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Browsing the "Economy" Category

Pernod Richard To Get Into Africa’s Alcohol Market

French multinational alcoholic drink company, Pernod Ricard stated it plans to open up more marketing possibilities in Africa simply by bottling 2 Indian whisky brands (Imperial Blue and also Royal Stag) for the continent’s buyers this year. It has pinpointed [...]

June 24, 2014 Economy

More Good News for African Foreign Investment

Later on this summer the 1st ever African Leader’s Summit will provide heads of state from all over the continent to Washington DC to talk about a variety of trade as well as investment matters. A latest study on the [...]

June 24, 2014 Economy

Global Windsor excites property industry with Bisazza Show

In affirmation of the desire to entrench itself as being the pioneer of first class, brand new and innovative products as well as services within the country’s property industry, Global Windsor Luxury Developments has revealed its first Bisazza Mosaic show [...]

June 24, 2014 Economy

64 firms join LCCI

64 firms might be granted certificates of membership by the Lagos Chamber of Commerce and Industry (LCCI) at an induction ceremony scheduled for Tuesday, June 24, 2014, at the LCCI Conference and Exhibition Centre, Alausa, Lagos. Chairman Babatunde Ruwase, membership [...]

June 24, 2014 Business, Economy

South Africa’s Woolworths to purchase Australian billionaire’s Country Road stake

South Africa’s Woolworths Holdings Ltd offered on Tuesday to purchase the 12 % of Australian clothes retailer Country Road Ltd it doesn’t currently own from billionaire Solomon Lew for A$213 million ($200.20 million). The offer possibly ends a stand-off more [...]

June 24, 2014 Economy

Guinea Insurance receives NIPEX nod for energy good deals

The strategic reengineering projects introduced by Guinea Insurance plc are starting to yield good result, because the company has been qualified to execute huge energy businesses. The accomplishment came as Guinea Insurance documented another accomplishment by its readmission towards the [...]

June 24, 2014 Economy, Oil & Gas

Stakeholders confident Nigeria can fund oil, gas projects

Gas and oil industry stakeholders currently have said Nigeria can obtain the essential funds necessary to be invested in the industry if she displays sense of seriousness and is also dedicated to what she wanted. The participants, that spoke at [...]

June 24, 2014 Economy, Oil & Gas

NDDC Launches Port-Harcourt’s Ultra-Modern Foot Bridge

The NDDC (Niger Delta Development Commission), has opened up an ultra-modern foot-bridge across the busy Aba Road in Port Harcourt. The bridge, that has turn into a brand new landmark within the capital city, can be a tube connecting the [...]

June 24, 2014 Economy

Globacom Launches its Centenary Lottery

The lottery, that has been endorsed by the office of the Secretary-General of the Federation, the Nigeria Lottery Regulatory Commission as well as other technical partners, was launched Tuesday in Abuja. The lottery also comes in form of an SMS [...]

June 24, 2014 Economy, Telecomms

Analyst Suggests FG To Create Renewable Energy Masterplan

The Team Nigeria Creative Director at the World Solar Challenge happening in Australia in the coming year, Mr Ebube Ebisike who had been a visitor on Business Morning, stated Nigeria had received great potentials with regards to renewable energy however [...]

June 24, 2014 Economy, Power

Shell will pay £30 million (R543m) Nigeria for 2 oil spills in 2008

Shell Oil company was prepared to pay £30 million (R543m) in payment for 2 oil spills in Nigeria in 2008 after the London court declined a bigger claim, sources in the case stated on Friday. About 15 000 residents of [...]

June 23, 2014 Business, Economy

FG to spend N268.37bn on infrastructure under SURE-P

The Federal Government would likely spend N268.37 billion on the country’s infrastructure in 2014 under the Subsidy Reinvestment and Empowerment Programme (SURE-P). According to SURE-P Chairman, General Martin Luther Agwai (retd.) in Abuja, “The president promised the Nigerian people that the [...]

June 23, 2014 Economy

NLNG – 6 Varsities Sign MOA of U.S.$12 Million On Brand New Engineering Labs

In satisfaction of their dedication to improve educational improvement in Nigeria, the Nigeria Liquefied Natural Gas Limited, NLNG, has started the procedure resulting in the disbursement of $12 million to be donated for building of latest engineering laboratories throughout 6 [...]

June 23, 2014 Business, Economy, Technology

World Bank to Set aside N80.7 Billion to improve Agriculture in Northern Nigeria

The World Bank has approved N80.7 billion to improve agriculture in Northern Nigeria. The executive directors of the bank approved the cash to boost farmers’ access to irrigation as well as drainage services, reported by Sahara Reporters. These funds may [...]

June 23, 2014 Economy

Nigeria to get $227m from Abacha loot

Nigeria will get $227 million through the government of the Principality of Liechtenstein as a part of looted funds retrieved from the family of former military leader, late Gen. Sani Abacha, reports stated Friday. The Principality of Liechtenstein is among [...]

June 23, 2014 Economy

Nigeria keeps growing better than US, UK, Japan

At a merely ended 3-day seminar, set up by the Central Bank of Nigeria(CBN), for Business Editors as well as Finance Correspondents, seasoned Economic experts, Statisticians and also Financial experts in order to brainstorm on “Rebasing of Nigeria’s Economy and [...]

June 23, 2014 Economy

Government inaugurates power transmission sub-station worth N401m in Cross River

Honourable Mohammed Wakil, Minister of State for Power inaugurated a N401 million power transmission station in Calabar, Cross River State capital, just like he motivated youths within the country to take part forces together with the Federal Government to combat [...]

June 23, 2014 Economy

Creating credit to work in Nigeria

Experts usually have believed that the minimal financial improvement in Nigeria is a chance of stretching out banking services to help many people in Nigeria. This possibility was more outlined right after the GDP was revised in April. Although non-public [...]

June 23, 2014 Business

World Bank Grants $495M To Enhance Food and Job Creation

The Board of Executive Directors of World bank the other day approved a $495.3 million credit to enhance farmers’ usage of irrigation as well as drainage services in the nation. The assistance under the International Development Association (IDA) would certainly [...]

June 21, 2014 Agriculture, Business

Nigeria returns $227m looted by dictator

Liechtenstein will return $227 million looted by the late military dictator of Nigeria following the Nigerian government created a deal as well as lowered corruption charges on his eldest son, said by the government. However, the leading advocacy group cautioned [...]

June 21, 2014 Economy

Police officers to revoke unused licences of coal in Nigeria

The NPC (Nigerian National Council on Privatization) Thursday declared that most firms who had been offered licenses to discover coal resources throughout the nation have already been provided one month ultimatum to start working on their sites or perhaps get [...]

June 21, 2014 Business, Economy

Nigerians refuse offer from Shell compensation

Nigerians affected by 2 major oil spills within the country in year 2008 have turned down a proposal by the Royal Dutch Shell to get a compensation up to $51m. On Friday, the attorney that represent the claimants declined the [...]

June 21, 2014 Business, Economy

Engineers India wins mega contract for Nigerian fertiliser plant

Engineers India Ltd (EIL) has bagged a $ 139 million contract from Dangote Oil Refining Company of Nigeria to render project management consultancy (PMC) and engineering, procurement and construction management (EPCM) services for implementing a grassroot 20 MMTPA petroleum refinery and 600,000 TPA polypropylene plant in Lekki [...]

June 21, 2014 Economy

Shell engages 500 youths to protect pipelines in Ogoni

Shell Petroleum Development Company (SPDC) has engaged 500 youths in an experiment to protect pipelines delivering crude to Bonny through the volatile Ogoni areas. Shell said in Port Harcourt on Thursday that it borrowed the idea from other areas in [...]

June 21, 2014 Business, Economy

World Bank approves $495.3m to boost agriculture in Northern Nigeria

The World Bank on Friday has approved 495.3 million dollars (about N80.7 billion) to boost agriculture in Northern Nigeria, a statement issued by Mr Bamidele Oladokun, Communications Associate to the World Bank, in Abuja. The statement said that the bank’s [...]

June 21, 2014 Agriculture, Business

Oyo Secures N31.14 Billion World Bank Loan for Flood Management

The World Bank has approved a loan package of N31.14 billion (US $200 million) credit facility for Nigeria to improve Oyo State’s disaster risk management capabilities. The facility is expected to strengthen community-based resilience capacity, and provide support for risk [...]

June 20, 2014 Economy

Users relieve shopping experience on online shopping

The Managing Director of TradeStable, Andrew Hall, has expressed his excitement over the huge patronage of his online shop, Tradestable.com.ng by Nigerians. He noted that his company has been earning the confidence of shoppers in Nigeria which he attributed to [...]

June 20, 2014 Business

iPhone 5s Lands In Nigeria

Etisalat Nigeria has announced the official launch of the iPhone 5s with 12-month warranty and a trade-in offer that will allow Etisalat customers exchange their iPhone 5s devices for the yet to be released iPhone 6. The iPhone 5s was [...]

June 20, 2014 Technology, Telecomms

PwC has cosy news for local tourism

For the first time since 2009, the South African hospitality industry demonstrated good growth last year. And despite the economic headwinds, PricewaterhouseCoopers (PwC) predicts the sector will grow more in the next five years. The 2014 to 2018 hospitality outlook [...]

June 20, 2014 Economy

Stakeholders Support Youth Agripreneur Initiative to End Unemployment

Minister of Agriculture and Rural Development, Akinwumi Adesina, has called for entrepreneurial skills development for profitable agriculture and agribusiness enterprises among African youth. Just as the Director of Agriculture and Agro-Industry Department (OSAN), with the African Development Bank, Chiji Ojukwu, [...]

June 20, 2014 Economy, Employment