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Business

Business

23 Companies To Assemble Vehicles In Nigerian

News Introduction: 
Twenty-three companies have signed commitments with technical partners to assemble cars, minibuses, pickups, buses and trucks in the country, under the a new Automotive Industry Development Plan, NAIDP.

Twenty-three companies have signed commitments with technical partners to assemble cars, minibuses, pickups, buses and trucks in the country, under the a new Automotive Industry Development Plan, NAIDP.
Nigerian Automotive Council, NAC, Director-General Aminu Jalal gave the cheering news while speaking at the South African Automotive Week conference, in Midrand, recently.

PIB Best Option For Nigeria’s Oil Sector- Ogbeifun

News Introduction: 
Former Deputy President General of the Trade Union Congress, TUC, Dr. Brown Ogbeifun, has said the Petroleum Industry Bill, PIB, remains the best option to move Nigeria’s petrol industry forward. - By Alex Emeje

Former Deputy President General of the Trade Union Congress, TUC, Dr.  Brown Ogbeifun, has said the Petroleum Industry Bill, PIB, remains the best option to move Nigeria’s petrol industry forward. Ogbeifun, who was also an ex-president of Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN,   argued that PIB would definitely add value to the country,s national hydrocarbons if passed  and the sole beneficiaries would be Nigerians and Nigeria.

Banks Rush For Eurobond To Boost Power Sector Lending

News Introduction: 
Nigeria’s drive to overcome a mismatch between demand for electricity and generating capacity is prompting the nation’s lenders to sell dollar bonds to finance power projects. - By Kehinde Ibrahim

Nigeria’s drive to overcome a mismatch between demand for electricity and generating capacity is prompting the nation’s lenders to sell dollar bonds to finance power projects.

WEF Contemplates Inclusive Growth for Africa

News Introduction: 
Cooperation and integration amongst African states identified as possible ingredients to mitigate the inequality existing between countries in the region at the World Economic Forum in Abuja. - By Kenneth Azahan

Despite skepticism expressed in some quarters over the benefits the World Economic Forum, WEF would bring for Nigeria and Africa in general, the African Development Bank, AfDB has said the forum has potential of closing the inequality existing between countries in the continent. The presence of many economic stakeholders in the continent and beyond present at the forum could be seen as a perfect avenue for such cooperation to be sealed.

Growing Nigerian Manufacturing, Sector Via Accurate Legislations

News Introduction: 
No nation can grow without a vibrant manufacturing sector. Unfortunately, a lot of factors inhibit this sector in Nigeria. The recent 26th Annual General Meeting of the Manufacturers’ Association Nigeria (MAN), Abia/ Imo Branch, which was held in Owerri, the Imo State capital, proffered solutions to the problems bedeviling this sector. - By Okechukwu Keshi Ukegbu

The theme of the AGM “The Role of the Legislature in a Growing Economy- Reference to the Manufacturing Sector” was timely. The Chairman of the Branch, Chief Godfrey C. Ekenma set the tone for the meeting. In his address,   he urged government at all levels to provide cheap and long term funds for its bonafide members. Ekenma also called on governments to grow manufacturing in order to create jobs and wisely improve their Internally Generated Revenue (IGR).

Kuforiji-Olubi, Nigeria’s First Female Banker

News Introduction: 
When Nigerian women were still groping in the kitchen because of ignorance and lack of empowerment, Chief Bola Kuforiji – Olubi was one of the first women to pride themselves in the banking . - By Joyce Remi- Babayeju

When Nigerian women were still groping in the kitchen because of ignorance and lack of empowerment, Chief Bola Kuforiji – Olubi was one of the first women to pride themselves in the banking profession which was an exclusive for domain for men in the country.

IITA Inching On More Maize Varieties

News Introduction: 
International Institute for Tropical Agriculture, IITA takes step to bridge the short fall in maize demand in Nigeria with research on more varieties. - By Kenneth Azahan

From north to south and east to west, maize is planted in Nigeria. It is one of the staple foods; it is either boiled and eaten or processed into flour for several food uses. Aside being a food crop, maize is also a raw material for industrial production. This dual nature of the crop puts it in high demand. 
Two types of maize are planted in the country, the yellow and white varieties and due to its rate of adaptability; it is not a seasonal product.

Maximising Revenue Base Via Consultancy

News Introduction: 
Federal Government involves consultants to assist FIRS in revenue collection as step to increasing her revenue base in 2014-any hope in the horizon? - By Kenneth Azahan

In order to curtail incidences of tax evasion, the federal government says it has contracted an international tax firm to assist the Federal Inland Revenue Service, FIRS, in strengthening tax collection in the non-oil sector.
Under the arrangement, additional N75 billion is expected t be raked into the FG’s revenue within the 2014 fiscal year. The increase will be through tightening the lapses in tax collection. Also, the drive will increase the FIRS revenue target which is put at N2.2 trillion in 2014 by another N75 billion, making it a total of N2.95 trillion.

Promoting Made-In-Nigeria Goods

News Introduction: 
Efforts to draw patronage for home made goods by the federal government is gathering momentum with private sectors support. - By Rita Onuoha

Locally produced goods hardly catch the fancy of most Nigerians due to what the market observers blame on the passion for foreign goods.
Interestingly in recent times, rising campaign for Nigerian made items is reversing the situation. In this vein, series of exhibitions are being organized by the stakeholders in the country.
For instance, the made -in-Aba fair which will begins this week, it is expected to show case leather works, steel fabrication and garment home made goods.

Nigeria’s Robust Economic Potentials

News Introduction: 
Going by the rating released recently by the World Bank, Nigeria is poised to become a world economic hub. = By Kenneth Azahan

According to a recent report by the World Bank, various reform programmes initiated and implemented by the Federal Government in the different sectors of the economy indicate significantly improvement in the country’s business regulatory environment, in the last one year. 
The report is coming after a review by the International Finance Corporation, IFC, which also revealed that between June 2012 and June 2013, Nigeria moved closer to global best practices in business regulations than previously, particularly since 2009.

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