1.
In the past 10 years, MultiChoice has spent N1.5 billion in acquiring local contents in Nigeria. According to its Managing Director in Nigeria, Mr John Ugbe, the company has played its part in developing local content in the country. He added: “When the Nigerian economy was rebased and became the largest economy in Africa, it gave us cause for celebration that the entertainment industry was recognized. I think we can beat our chest on that. We were here when we have to put VHS cassette in an envelope, put them in flights just to ensure that Nigerian music video is on Channel O. I am proud when I fly into African countries, in some airports, they would call you ‘Oga’. People speak Ibo or Yoruba to you, it is shocking to me sometimes.”
2.
The Federal Government has disclosed that so far nine states have accessed the N220 billion Small and Medium Scale Enterprises fund floated by the Central Bank of Nigeria (CBN). This is even as it has said that 19 more states have completed the process and are at the stage of also accessing the fund. The Minister of Industry, Trade and investment, Mr. Olusegun Aganga, disclosed this at the inaugural meeting of the National Council on Micro, Small and Medium Enterprises set up by President Goodluck Jonathan to facilitate growth in the economy.
3. Africa’s largest economy, Nigeria, made further improvement in the World Bank ease of doing business global ranking which has seen the country move up five places in the last one year.
The World Bank analysis showed it is getting better to do business in emerging markets, as Nigeria jumped to 170 out of a total of 189 countries measured in the ease of doing business survey.
4.
Nigeria’s Federal Government has rejected the suggestion by Asiwaju Bola Ahmed Tinubu, the national leader of the All Progressives Congress for the printing of more Naira notes to cushion the effects of tumbling oil prices which has affected the country’s revenues. Ngozi Okonjo-Iweala in a statement yesterday, slammed the idea a “poorly thought out populist recommendation”. She said the idea would be disastrous for the country if implemented
5.
Proshare Nigeria Limited, a stockbroking firm in Nigeria has emerged winner of the Nigerian British Chamber of Commerce (NBCC) Guinness Nigeria 2014 Rising Star Award. The company would be presented with the award during the NBCC Annual Presidential Dinner and Awards Ceremony on Friday, November 21, 2014. The NBCC which aims to promote and encourage good practice on the Nigerian business landscape, and to recognize and celebrate outstanding achievements across various sectors of Nigerian business acknowledges that Proshare truly deserves this award.
6.
Travellers going to Europe and beyond with Virgin Atlantic may find it difficult to book flights or carry out travel transactions with the airline as it has proposed to close down its contact centre in Nigeria after asking its staff to go.
7.
Nigeria expects broadband penetration to hit 50 per cent by 2020 from current rate 6 per cent, connecting more Nigerians to the Internet at better speeds and at a better price, Information Technology and Communications Minister, Omobola Johnson said. “If we continue at this pace in terms of infrastructure we should see over 100 per cent mobile penetration and the broadband penetration will hit 50 per cent by 2020,” she said in an interview at the recently concluded FBN Capital Investor Conference 2014 in Lagos.
8. Nigeria must raise massive capital to invest in infrastructure in order to move the economy to greater heights.
Group Managing Director of Access Bank, Herbert Wigwe who made the assertion in Lagos, specifically harped on power supply and transportation where the huge capital should be channeled to push the economy forward. He said at a press conference to mark the end of the Africa Financial Summit held in Lagos that there is a huge infrastructure gap that is needed to be bridged if the country must rise to enviable heights.
9. The Minister of Finance, Dr. Ngozi Okonjo-Iweala, insists that Nigeria is not broke. She has spent the better part of this year denying that anything could be amiss with the economy.
As oil prices fall, with the United States using other oils, even ordinary people noted that lower oil sales would affect the economy. Dr. Okonjo-Iweala said nothing of the sort would happen. The economy was on a sound footing, she added.
10.
Justice Theresa Obot of the Akwa Ibom State High Court said that the state government had set up a family court to tackle the increasing cases of child witchcraft in the state. Obot told the News Agency of Nigeria (NAN) on Sunday in Abuja that the court was created after a commission of enquiry set up to investigate allegations of child witchcraft concluded its assignment. According to her, the court is set up to prosecute cases and allegations of child witchcraft in the state. The Commission of Enquiry was set up in November 2010, following the rampant stigmatisation of children in the state for alleged witchcraft. According to her, priority attention is being given to cases of child witchcraft in the state.
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This article was first published on 17th November 2014 and updated on November 21st, 2014 at 1:10 pm
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1. In the past 10 years, MultiChoice has spent N1.5 billion in acquiring local contents in Nigeria. According to its Managing Director in Nigeria, Mr John Ugbe, the company has played its part in developing local content in the country. He added: “When the Nigerian economy was rebased and became the largest economy in Africa, it gave us cause for celebration that the entertainment industry was recognized. I think we can beat our chest on that. We were here when we have to put VHS cassette in an envelope, put them in flights just to ensure that Nigerian music video is on Channel O. I am proud when I fly into African countries, in some airports, they would call you ‘Oga’. People speak Ibo or Yoruba to you, it is shocking to me sometimes.”
2. The Federal Government has disclosed that so far nine states have accessed the N220 billion Small and Medium Scale Enterprises fund floated by the Central Bank of Nigeria (CBN). This is even as it has said that 19 more states have completed the process and are at the stage of also accessing the fund. The Minister of Industry, Trade and investment, Mr. Olusegun Aganga, disclosed this at the inaugural meeting of the National Council on Micro, Small and Medium Enterprises set up by President Goodluck Jonathan to facilitate growth in the economy.
3. Africa’s largest economy, Nigeria, made further improvement in the World Bank ease of doing business global ranking which has seen the country move up five places in the last one year. The World Bank analysis showed it is getting better to do business in emerging markets, as Nigeria jumped to 170 out of a total of 189 countries measured in the ease of doing business survey.
4. Nigeria’s Federal Government has rejected the suggestion by Asiwaju Bola Ahmed Tinubu, the national leader of the All Progressives Congress for the printing of more Naira notes to cushion the effects of tumbling oil prices which has affected the country’s revenues. Ngozi Okonjo-Iweala in a statement yesterday, slammed the idea a “poorly thought out populist recommendation”. She said the idea would be disastrous for the country if implemented
5. Proshare Nigeria Limited, a stockbroking firm in Nigeria has emerged winner of the Nigerian British Chamber of Commerce (NBCC) Guinness Nigeria 2014 Rising Star Award. The company would be presented with the award during the NBCC Annual Presidential Dinner and Awards Ceremony on Friday, November 21, 2014. The NBCC which aims to promote and encourage good practice on the Nigerian business landscape, and to recognize and celebrate outstanding achievements across various sectors of Nigerian business acknowledges that Proshare truly deserves this award.
6. Travellers going to Europe and beyond with Virgin Atlantic may find it difficult to book flights or carry out travel transactions with the airline as it has proposed to close down its contact centre in Nigeria after asking its staff to go.
7. Nigeria expects broadband penetration to hit 50 per cent by 2020 from current rate 6 per cent, connecting more Nigerians to the Internet at better speeds and at a better price, Information Technology and Communications Minister, Omobola Johnson said. “If we continue at this pace in terms of infrastructure we should see over 100 per cent mobile penetration and the broadband penetration will hit 50 per cent by 2020,” she said in an interview at the recently concluded FBN Capital Investor Conference 2014 in Lagos.
8. Nigeria must raise massive capital to invest in infrastructure in order to move the economy to greater heights. Group Managing Director of Access Bank, Herbert Wigwe who made the assertion in Lagos, specifically harped on power supply and transportation where the huge capital should be channeled to push the economy forward. He said at a press conference to mark the end of the Africa Financial Summit held in Lagos that there is a huge infrastructure gap that is needed to be bridged if the country must rise to enviable heights.
9. The Minister of Finance, Dr. Ngozi Okonjo-Iweala, insists that Nigeria is not broke. She has spent the better part of this year denying that anything could be amiss with the economy. As oil prices fall, with the United States using other oils, even ordinary people noted that lower oil sales would affect the economy. Dr. Okonjo-Iweala said nothing of the sort would happen. The economy was on a sound footing, she added.
10. Justice Theresa Obot of the Akwa Ibom State High Court said that the state government had set up a family court to tackle the increasing cases of child witchcraft in the state. Obot told the News Agency of Nigeria (NAN) on Sunday in Abuja that the court was created after a commission of enquiry set up to investigate allegations of child witchcraft concluded its assignment. According to her, the court is set up to prosecute cases and allegations of child witchcraft in the state. The Commission of Enquiry was set up in November 2010, following the rampant stigmatisation of children in the state for alleged witchcraft. According to her, priority attention is being given to cases of child witchcraft in the state.
