ECONOMY

FG Enters Partnership with France to Develop SMEs In Nigeria

Nigeria has signed a Memorandum of Understanding with the French Government to facilitate the growth and development of Small and Medium-sized Enterprises (SMEs) in Nigeria. Bature Masari, Director-General of Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), and Viginie

GTBank Plc, CEO, Win Awards at World Finance Banking Awards

Guaranty Trust Bank Plc (GTBank) was awarded the ‘Best Banking Group – Nigeria’ at the 2013 Annual World Finance Banking Awards, recently. Segun Agbaje, Group Managing Director and Chief Executive Officer of GTBank, won the award for ‘Banker of the

Nigeria’s Economic Market Size now $247 Billion – Report

Mediafacts, an annual publication of MediaReach OMD, has revealed that Nigeria’s economic market size is around $247 billion (₦39.52 trillion). This is about 41 percent of the Gross Domestic Product (GDP) of West Africa. The report also says, “the sheer

Visa Plans to Expand Business in Nigeria

Visa, Global Financial Services Corporation that operates Visa card, has revealed that it is targeting expansion in Nigeria. The corporation’s newly appointed Group Executive for Central and Eastern Europe, Middle East and Africa, Kamran Siddiqi, visited Nigeria and spoke of

Low-cost Airline to Take Off in 2014 – Aviation Expert

  French investors are planning to launch a low-cost airline in Nigeria, says a Dutch Aviation expert and former Managing Director of Arik Air, Alex Van Elk. He said plans are underway and consultations are being made, to have the

FG to Establish Three Automobile Training Centres in Nigeria

The Federal Government has revealed plans to create three automobile centres in Nigeria across three zones. The centres, to be located in Lagos (Ibadan Zone), Nnewi (Aba Zone) and Kano (Kaduna zone), would train Nigerians in auto maintenance and spare

Arik Air Introduces Mobile Booking

Arik Air has announced its partnership with mobile commerce firm, SlimTrader, to provide a new mobile booking service for passengers. This, according to the Airline, is aimed at revamping its technology offering and enhancing the airline’s customer experience. The Global

FUTO Plans Automobile Production – Vice Chancellor

The Federal University of Technology, Owerri, is preparing to manufacture the first made in Nigeria car by 2015. The Vice-Chancellor, Prof. Cyril Asiabaka, in an announcement, said the university plans to manufacture the cars in commercial quantity by 2017. He

More X-ray Scanners Installed at International Airport in Lagos

The Federal Airports Authority of Nigeria (FAAN) has announced that it has installed seven new X-ray scanning machines at Murtala Muhammed International Airport (MMIA), Lagos. The General Manager, Corporate Communications, Yakubu Datti, made this known at a news conference. He

Dangote Group to Build $400M Cement Factory in Kenya – Presidency

The office of the President of Kenya, released a statement over the weekend, during President Goodluck Jonathan’s state visit to Kenya, that Dangote Group has signed an agreement to build a new cement factory in Kenya that will cost $400

FG to disburse N15Bn Agriculture Loan

Vice President Namadi Sambo has disclosed that the Federal Government has approved N15 billion as grant through the Bank of Agriculture (BOA) for farmers at single digit interest rate for the 2013 farming season. He made this known on Thursday

President Jonathan embarks on state trip to Kenya

President Goodluck Jonathan is on a three-day state visit to Kenya, at the invitation of President Uhuru Kenyatta. This visit is expected to boost diplomatic relations between Nigeria and Kenya and expansion of cooperation in areas of trade, economic development,

There’s More to Your Lemons Besides Making Lemonades

When life throw lemons at you, smile and convert them to a jar of lemonade. Well that is just an adage of life. Actually, there is much more to lemons besides making lemonades. Lemon is oval-shaped and has a greenish-yellow

UBA Considering $2Bn Investment in Power Sector

The Chief Executive Officer of United Bank for Africa (UBA), Phillips Oduoza, has said the bank is looking to invest $2 billion in the power sector in Nigeria and across Africa. He revealed that the bank has already invested $700

Dangote Group Signs $3.3Bn Loan To Build Refinery in Nigeria

Industry leader in Cement and Sugar Manufacturing in Africa, Dangote Group, has announced that it has signed a loan facility agreement of $3.3 billion to build a refinery and petrochemicals complex at the OK-LNG Free Trade Zone, between Ogun and

Nigeria-Indonesia Trade Hits $449M

Trade volume between Nigeria and Inodnesia currently stands at $449 million, and is projected to increase by 12 percent this year, according to the Indonesia Trade Promotion Centre (ITPC). Director of ITPC, Mr. Pontas Tobing, at a briefing to announce

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