W’Bank Cuts Nigeria’s GDP Growth Forecast to 2.1% for 2019
The World Bank Group has predicted real Gross Domestic Product (GDP) growth rate of 2.1 per cent for Nigeria for 2019, slightly lower than the 2.2 per cent it had predicted for the country same year in a report early this year. But the bank projected a 2.2 per cent growth for the country for 2020 and 2.4 per cent for 2021. Click here for more.
Presidency Meets Power Firms Over Electricity Crisis
As the nation’s power sector remains in crisis mode, the Presidency has met with electricity distribution companies in a bid to resolve some of the issues affecting the electricity supply industry, our correspondent has learnt. Click here for more.
Nigeria’s Oil Thieves Roar Back as Militants Kept in Check
Just as Nigeria gets to grips with militants who brought the nation’s oil industry to its knees a few years ago, another group of longstanding foes are slowly making a comeback: thieves. Click here for more.
Operators seek FG’s intervention in Oando, SEC saga
Capital market operators have called for urgent intervention of the Federal Government in the conflict between the Securities and Exchange Commission and Oando Plc. They made the call on Wednesday in separate interviews, the News Agency of Nigeria reported. Click here for more.
Fair to showcase food, drink opportunities
More than 150 food and drink businesses, both local and international, are set to take part as new food and drink trade show berths in Lagos, Nigeria. According to the organisers, the fair which is scheduled to hold on Victoria Island between June 18 and 20 has secured the backing of many businesses and trade associations. Click here for more.
Firm to invest $26m equity on solar
Azuri Technologies plans investing $26 million on production of solar energy in Nigeria, its Chief Executive officer, Simon Bransfield, has said. He said the firm is investing the money in conjunction with Fortune Global 500 Company Marubeni Corporation, FTSE 250 Company IP Group plc and others. Click here for more.
Nigeria’s E-Payment Deals Lose Over N5 Trillion In Q1
The first quarter (Q1) transactions record of the electronic payment (e-payment) channels across the country, showed a shortfall of N5.13 trillion at N34.02 trillion, against N39.15 trillion recorded in Q4 of 2018. Click here for more.
$48b Forex Inflows, $45b Reserves Stabilise Naira
Rising dollar inflows through the Investors’ and Exporters’ (I&E) Forex Window and foreign reserves accretion have stabilised the naira in the official and parallel markets. The I&E Forex Window has attracted $48 billion to the economy in 24 months. Click here for more.
German govt invests €2m in Nigeria’s rice production
The German government, with support from the Bill and Melinda Gates Foundation, has provided €2m for the implementation of the second phase of the Competitive African Rice Initiative in the country. The Programme Director of CARI, Mr Jean-Bernard Lalannehe, disclosed this on Wednesday to newsmen in Abuja. Click here for more.
China Issues 5G Licenses To Four Local Firms
China’s tech industry ministry on Thursday granted 5G licenses to China Telecom, China Mobile, China Unicom and China Broadcasting Network Corp, marking a major benchmark in China’s race to deploy and popularize 5G. Click here for more.
Managing money in small businesses
To adequately manage money is generally seen as a challenge by many. This is the same among owners of small businesses. The management skills you deploy in making your product or providing services is usually the reason your small business is successful. Click here for more.