ECONOMY

Lagos State Residents Registration Programme Will Foster Development – Asugha

  The Special Assistant to the Imo state governor on Lagos/Southwest Liaison, Hon. Lisa Asugha-Enogha has said that the proposed compulsory registration for all Lagos residents, tagged: ‘Lagos State Residents Registration Programme’, LSRRP, would foster development for the well-being of

Fidelity Bank Targets 50% SME Lending

Mr. Nnamdi Okonkwo, the Managing Director/Chief Executive Officer, Fidelity bank revealed the bank’s plans to increase its lending to small and medium scale enterprises (SMEs) also to the retail segment from 28% which it attained in 2013 to 50%

US Ambassador, Entwistle Optimistic About Nigerian Capital Market

  Mr. James Entwistle, United States Ambassador to Nigeria said on Wednesday that the improvement in the regulation of the Nigerian capital market and its general business environment will attract more investment from the US into Nigeria. He said this

FAAN Deploys Adequate Security at Airports

Mr. Yakubu Dati, the General Manager, Corporate Communications, FAAN said in an interview in Abuja yesterday that it has deployed adequate security at the airports across the country along with anti-terrorism squads. According to him, Federal Airport Authority of

Lagos to Build 7 Floor Car Park in Onikan

The Lagos State Government says it has began the building of an ultra-modern seven-floor car park at Onikan in Lagos Island. The Commissioner for Works and Infrastructure, Obafemi Hamzat, said this during the ministry’s 2014 press briefing on Wednesday in

Skye Bank Appoints Timothy Oguntayo CEO-designate

Skye Bank’s Board of Directors has confirmed a successor to the present Group Managing Director/Chief Executive Officer, Mr. Durosinmi-Etti who is to retire from the bank on the 31st of July, 2014 to mark the end of his tenure. His

FBN Microfinance Bank Extends Operations to Other States

      First Bank Microfinance Bank Limited, with 23 branches in Lagos, seeks to extend its operations to other states in the country, especially Ibadan, Oyo State and Abuja FCT among others. This decision was made as a response

World’s Biggest Outdoor Agency to Participate at LASAA’S Africa Sign Expo

Lagos State Signage and Advertisement Agency (LASAA) will hold the African Outdoor Advertising Conference and Exhibition (Africa Sign Expo) between June 25 – 27, 2014 at the Eko Hotel Convention center, Victoria Island. The event, which is being organized by

Nigeria to Host African Internet Governance Forum in July

Nigeria is to host the 3rd African Internet Governance Forum in Abuja. The forum is targeted at considering and adopting efficient ways to improve internet service and internet access in the continent. The secretariat of the Forum announced this on

Zenith Bank’s US$500M Euro Bond Massively Over-Subscribed

Zenith Bank Plc has announced a massive over-subscription of 200% in her US$500m Euro bond issue under a US$1bn Global Medium Term Note (GMTN) Programme announced on 1 April 2014. According to a press release issued this afternoon, the bank’s

Oyo Govt. Reveals Plans For Economic Summit 2014

Oyo State Government has concluded plans to hold its first economic summit in conjuction with the International Institute of Tropical Agriculture (IITA) in Ibadan in April 14th – 15th, 2014. The Ministry of Trade, Investment and Cooperatives told journalists at

Austrian Glass Company Plans Nigeria Entry

  Austria-based glass manufacturer, Lisec Group has revealed plans to enter the Nigerian glass market as it continues its growth strategy in Africa. With its strong presence in Egypt, Kenya and South Africa, it insists for its presence also in

Arik Air Build Mini-Hub to Connect West/Central African Destinations

Arik Air has established a mini hub in Cotonou, the capital of Benin Republic – a 15 minutes flight from Nigeria’s commercial capital, Lagos in a bid to expand its operations to French speaking West and Central African destinations. The

Private Equity Firms Prefer Africa as Investment Destinations

In a survey released last week, majority of private equity firms favor Africa as an investment destination over other emerging markets. Most of these firms are largely drawn to Africa by the potential earnings from the higher economic growth rate

Rice Production to Boost Nation’s GDP by $9bn, Says Adesina

Dr. Akinwunmi Adesina, the Minister for Agriculture and Rural Development, has predicted that when new investments on facilities for rice production and processing becomes fully operational, rice would be adding about $9 billion yearly to the nation’s GDP. He made

Experts List Ways to Accelerate Electricity Delivery to Lagos

Against the reported dwindling daily supply of electricity to Lagos State, experts and stakeholders in power, gas and related sectors have canvassed for significant improvement in the current gas supply across the country as one of the critical issues that

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