Businessday Nigeria Archive for January 2015

Friday, January 30, 2015

Zimbabwe’s Mugabe now African Union chairman

CBN sells dollars to lift naira

MasterCard’s quarterly profit rises 29 percent

Naira exchanges for N210.50k per dollar at parallel market

Amosun alleges planned manipulation of elections through PVC sale in Ogun

Bayelsa ex-deputy governor predicts PDP victory in Ekeremor

2015: INEC, NURTW sign logistics pact

Senator makes case for reduction in kerosene price, repairs of refinery

Market women, others root for Jonathan’s re-election

Ladoja is anti-masses, APC alleges

Peterside asks Rivers’ indigenes to reject ‘cloned’ road map

19 ships laden with foods, petroleum products arrives Lagos ports

NBS reduces Nigeria’s economy growth forecast to 5.54 percent

NACC 2015 trade mission focuses on agri, health, ICT, others

Foreign exchange reserves fall to $34.38bn

Elumelu unplugged at Davos  

Thursday, January 29, 2015

Nollywood reviews distribution to boost revenue, curb pirates

FG commissions N60bn steel mill in Sagamu

Shell earnings slide on plunging crude price

My tea and I

Alex Otti and the change Abia craves for

Another face of tyranny

Paying for the APC manifesto’s spending promises

Surge in dollar-debt leaves some African nations exposed

Internally displaced persons and 2015 elections

Facilitating trade through ICDs

INEC mulls distribution of PVCs at polling units

More microfinance banks may collapse, says operator

Chad ‘captures Nigerian town from Boko Haram

Nigerian stock market rises by 0.16%

Nigeria-China trade volume exceeds $16bn in 2014

Federal Inland Revenue generates N4.69trn in 2014

Naira sheds 1.64% against dollar

We will counter PDP strategies on rigging, says Sylva

Akinwumi Adesina: H5N1 bird flu now in 11 states

UNICEF makes record $3.1 billion appeal to help 60 million children in crisis

‘Free and fair election will guarantee acceptable result to all candidates’

Rivers State 2015 economic prospect by Governor Chibuike Rotimi Amaechi

Nigerian banks suffer in the oil storm

NCC to sanction network providers over unsolicited messages

OPS queries use of commission-driven consultants for tax collection in Lagos

BusinessDay publisher speaks at advert managers’ business session

Naira gains N4.70k against dollar at inter-bank market

Shell to cut spending by $15bn over three years

Weekly Ebola cases below 100, WHO says endgame begins

Wednesday, January 28, 2015

Investors weigh banks exposure as oil slump echo 2009 crises

February polls: Let’s just get it over with

Mixed feelings trail equities amid recent gains

China to ease foreign investment regulations

NOI December consumer index further declines

If you know what the true meaning of transformation is, you’ll know how to vote in the presidential election

Manufacturing job data show policy gaining traction

Playing the Keynesian beauty contest game on the NSE

LEDAP presents acquitted death row inmates at office opening

Oil price slump: MainOne urges stakeholders to adopt ICT for cost efficiency

Banks earning outlook for FY 2014

Radisson Blu Anchorage Hotel confirms renovation activities underway

FG to sell N192bn in treasury bill

Naira gains after NNPC sells $350m

Okonjo-Iweala: 22,000 graduates benefit from FG’s graduate internship programme

Eunisell promotes innovation at 19th Offshore West Africa Conference

Pipeline vandals kill 2 policemen in Lagos

AMCON to collect 13,000 debts, transfers 2 bridge banks to Heritage, Skye banks

FG has revived 3,500km railway nationwide

DPR seals 6 filling stations in Enugu

SEC to empower SROs, trade groups

Sterling bank strong with customers online

Kogi govt to prosecute officials involved in N500m exams fees scam

IFC grants N400m loan to Lafayette MFB

iArea Network launches robust car tracking device

Jonathan, Buhari must commit to peace accord, says Fashola

Oil price holds above $48 as market stabilises

ASUU-LASU alleges plans by external forces to create crisis in school

HMK REIT offer now to close January 28

Ministers, public office holders get ultimatum to cut travel expenses

Naira opens at record low of 192.60 on tight dollar supply

Tuesday, January 27, 2015

Police spend $398m on bogus project as insecurity rages

Don’t panic, says Central Bank of Nigeria governor

FG abandons LPG policy for kerosene to make more money

Getting more involved in your pension scheme

Why the oil market imbalance will last for half of 2015

Nigeria’s multiple crossroads

The ugly side of Buhari and Jonathan

Saving oil prices: All eyes on Saudi Arabia’s new king

Banking tears in a cashless society (2)

Two explanations of corruption by economists (3)  

Emefiele rules out naira float

Multitrex inability to access working capital dents growth prospects

Digital TV revenues to hit $1,148 million in 2020

CBN explains challenges in monetary and fiscal sector

Shale or OPEC: Who Will Rule the Oil Market?

Oil price recovers as dollar weakens against euro

2015 Nigeria outlook & Synopsis


Buhari’s integrity faces acid test over alleged perjury

NAICOM gives insurance firms one month to submit report on unpaid claims

Eko Disco begins tender process for embedded generation project

AU, China sign MoU for speed rail system in major African cities

Naira devaluation increases drug price

CME Group to launch euro-denominated cocoa contract

Jonathan promises more investment in agriculture to create jobs

NASENI to ride on Japanese agency’s expertise to boost technology transfer

Bestman Games partners Lamudi on African editions of Monopoly

Former Super Eagles goalkeeper, Wilfred Agbonavbare, dies

ISPs fail to fix Nigeria’s internet access challenge

Agric ministry tackles policy reversal with NAGESS Act

Radisson Blu Anchorage Hotel to conduct extensive renovation

Naira defies analysts’ expectation, CBN’s $235m forex auction

NUPENG urges declaration of state of emergency on refineries

Hotel services growth throws up opportunities for investments, diversification

Challenging trading conditions in Nigeria hurt PZ Cussons first-half profit

Local vendors, not supermarkets, key to Africa food security – researchers

Afren holds talks with bondholders about funding

Monday, January 26, 2015

Marketers keep diesel price high, despite 55% global crude drop

Ongoing electioneering campaigns: matters arising

Aid in a world of crisis

‘Oil price fall underscores recurrent cost cut, subsidy removal’

Failure is not an option

Media agencies involved in political campaigns hide from exposure

Banking tears in a cashless society (1)

Counting the cost of Nigeria’s absence at AFCON 2015

Nigeria’s mini sugar market in growth spurt

High rental yield, value appreciation define Femab Properties selling proposition at Diamond Estate II

February 14 presidential poll: Lawyer seeks disqualification of Buhari

Nigeria can generate over N100b annually from cultures, museums, says Curator

Gross earnings for accommodation sector stands at N2.5bn in 3 years

Naira closes at record low, despite CBN intervention

We won’t observe elections in North East, says EU

Military fights to recapture Monguno from Boko Haram insurgents

Trans Forcados oil pipeline reopened after one-week shutdown

Access Bank starts marketing N52.6bn rights issue

Naira nears record intraday low against dollar

Seplat sees 30% earnings from gas by 2017 on Nigeria reforms

Indorama spokesman bags PhD in Marketing (PR)

Lagos 2015: Ambode or Agbaje?

Naira to stabilise this week as CBN raises dollar sales to BDCs by 100%

What about diesel, kerosene?

Ecobank to comply with Ivorian order in defamation case

Sunday, January 25, 2015

Army repels suspected Boko Haram attack on Maiduguri

N220bn MSMEDF: CBN may cut rate to PFIs to 2%, collateral requirement to 50%

Doubling VAT may yield N620bn for states

Balance sheet of the Goodluck Jonathan presidency  

Manufacturers defy North’s insecurity with new investments

PDP’s covenant with Nigerians: 16 years on

Specks of optimism after days of pessimism for world growth as Davos ends  

Business-Day survey shows 97% of Nigerians pay above Kerosene subsidy price

Terror management theory

Manufacturers expand operations on back of regional trade opportunities

Human capital agenda for Nigeria

MTN may cut more jobs this year

Saturday, January 24, 2015

Real Madrid tops football rich list

Naira rebounds from record lows on central bank action

Seplat granted deadline extension for Afren takeover

EcoBank to petition $15m compensation ruling for Ex-CEO

Africa oil boom on hold as prices spur explorer caution: Energy

More cost-cutting, streamlining for mining firms in 2015 

Engendering financial inclusion through BVN

The new health-care continuum

The year of resilience

Dwindling oil prices take their toll on energy industry

Apapa Mall: A unique shopping experience

Lekan Abioye: Open your mind through books

Nigeria-Australia trade volume stands at $2bn

Friday, January 23, 2015

Jonathan approves N26bn for 2015 dry season farming

Sony delays official submission of its third quarter results after hacking

Africa still attractive FDI investment destination

Nigerian stock market dips further by 0.24%

Lagos collapses existing land registration laws into one to fast-track transactions

Buhari fund-raising: APC asks Jonathan to call NCC to order

2011-2025: WHO estimates economic losses due to NCDs at US$7trn

Challenging macroeconomic environment slowing FM industry growth

Rep seeks FG’s timely intervention on 12 Nigerians on death row in Indonesia

CPC withdraws litigation against NBC, Coca-Cola

Faced with tight business climate, manufacturing tops total jobs Q3, 2014

Thursday, January 22, 2015

Elumelu, Dangote reassure global fund managers on concerns about investing in Africa

Nigerians spend N12bn on armoured vehicles as demand shoots up 20%

Free food for pupils: An expensive food for thought (2)

Checking excesses of microfinance banks

AFCON 2015: Who wins the $1.5m prize money?

African capital markets approach tipping point

Social justice and development

Fayose, PDP and the height of insensitivity

IEA chief warns oil drop may hurt investment in energy projects

Cocoa, sesame, cashew exports hit $48m, boost non-oil export

PDP raises dust over Buhari’s released result  

SecureID builds smartcard manufacturing unit in Lagos

What we need in Nigeria are leaders with global vision – NBA president

FMDQ OTC 2014 market turnover reaches N104trn

Rotary hands Nigeria $8.1m in final push to eradicate polio

Nigeria’s average life expectancy increases to 54, says Jonathan

United Capital releases 2015 Nigerian economy, financial markets report

Naira drops N1.00k despite CBN’s $173.6m forex sales

Agbaje says Lagos underfunding education

Impact of dwindling oil prices beginning to have victims

Nigeria will become net rice exporter if re-elected, says jonathan

Seplat, Forte, Guinness, other stocks drive market’s 0.20% loss

Bird flu: Ogun, Delta, Edo, Rivers record poultry deaths

CBN to engage with JPMorgan as FMDA meets on FX markets

Wednesday, January 21, 2015

SEC mulls aggressive investor education plan to mobilise local investments

Business, political leaders canvass cooperation at Davos amidst uncertainty

Developers devise new offerings to attract buyers

Buhari, Fayose and the odious death wish

Can countries still trade their way out of poverty?

Investors must factor in South African power cuts, Minister says

The Americans are coming, the Americans are here

The politics of economic stupidity

We are not angry enough

Rethinking Nigeria’s foreign policy

Bervidson, Soysal partner to boost Nigeria-Turkey trade relations

I will present my certificate to the public soon, says Buhari  

iPhone 6 hands Apple record share of Samsung’s home market

MTN to reorganise its South African business unit

Crude oil decline threatens three Nigerian deepwater projects

Stakeholders see double taxation as challenge to REITs investment

WorldRemit, MTN in pact to drive mobile money, remittance services

NNPC mega station, others fail to comply with new pump price in Kogi

APC unveils fundraising platforms for presidential campaign

EU deploys election observation mission in Nigeria

Lagos vegetable farmers want irrigation for improved harvest

Army, Police intercept 3,600 Uyo-bound INEC ballot boxes in Ogun

37 ships laden with foods, petroleum products to arrive Lagos ports

Tuesday, January 20, 2015

Crude war: Shale losing battle to OPEC

Telcos target fresh revenue in video streaming amid rising user affinity

Banking sector non-performing loan to rise 4.6% in 2015

Driving growth of financial services with bancassurance

From welfare state to innovation state

Two explanations of corruption by economists (2)

Growing opportunities in messaging apps

Ways to tackle debt… and the cause

Cost-cutting measures hit front burner in the industry

Taxing authority

Political campaigns keep Jonathan away, but Dangote, Elumelu, Tinubu, lead Nigeria’s business elite to WEF 2015

Union Dicon lists 41m new shares

Market rebounds by 2.54% as large cap stocks gain

Three-year anniversary of subsidy strikes revisits need to eliminate subsidy

Deplorable state of roads hindering market access to farm Produce

Naira falls N2.00k against dollar as analysts predict more devaluation

Nigeria maintains top spot as the most-watched frontier market despite election jitters

Amosun vows to increase local councils in Ogun by 50

NCC yet to lift market dominance sanctions on MTN, Globacom

Ambode addresses business leaders, pledges tax review if elected Lagos governor

Borno blackout: minister issues 48-hour ultimatum for reconnection

Oil plunge reverses Nigeria’s JPMorgan index gains as yields soar

Monday, January 19, 2015

MainOne opens $25mn Tier-III data centre

Analysts see investment growth, increased real estate revenue in Lagos land tax cut

2015 elections and the economy

CBN will not raid domiciliary accounts held in Nigeria

Coup plotters, militants, terrorists & democrats

Nigerian bonds to remain on JPMorgan index despite negative watch

Rokana post loss to end 2012 financial year

Education and the private sector fetish

Nurturing our youths for leadership

Templetons Realty’s new market focus pioneers tenants’ representation service

Re: Neither Jonathan nor Buhari

FG slashes petrol price to N87 per litre

Air travel may stall as traffic controllers threaten to down tools

Egbin Power boosts national grid with additional 220MW

Sunday, January 18, 2015

Leveraging e-learning for more inclusive education

Investors’ chase for ‘risk-free’ assets spurs N100trn OTC deals

World leaders to discuss New Global Context as WEF meeting kicks off Wednesday in Davos

Adieu, Ambassador Felix Awanbor

Jaiz Bank eyeing national, global market capture – Nurul Islam

Analysts rate AshakaCem ‘Mandatory Tender Offer’ shareholder positive

Seplat top pick among African oil & gas firms

Nigeria may miss N9.3trn new spectrum revenue as digital migration stalls

Time to look at the post-elections landscape

Slaves to ignorance, malice and racism

Nigeria’s presidential race 2015: The onus on the incumbent and the challenger  

MainOne unveils MDX-i, West Africa’s premier tier III data center

Suicide bomber kills four at bus station in Potiskum

Saturday, January 17, 2015

New space for Nigerian art

Hell no, Nigerians are not all forgetful!

Preparing for the unknown unknowns

Economic managers face tough questions as oil woes mount

Lagos and the defining moments of 2014

Mansard tap into Nigeria robust economy as premium grows by 18.12 percent

No wish to be negative, but what are electricity companies doing?

Security, naira decline key issues as elections draw closer

Affordable housing, basic urban services and shared prosperity

Vitamin M

Friday, January 16, 2015

Jonathan pledges partnership with traditional rulers

Oil price up $2 as IEA sees signs ‘tide will turn’

Container volume at Apapa Port rises 16% to 970,000 TEUs in 2014

Seplat gets $700m war chest as Afren merger on the cards

Naira loses N2.50k against dollar despite CBN’s intervention

Stock Exchange records first listing in 2015 with Transcorp Hotels

Rivers 2015 budget presentation still stalled  

3.7 PVCs for fresh distribution in Lagos, says INEC

Agric ministry issues red alert on bird flu

Thursday, January 15, 2015

Memories of a certain New Year’s Day

Price crisis persists as cement enters 2015 at N2,000/50kg

Arunma Oteh and her quest for a world-class capital market

Jonathan visits soldiers in Maiduguri, salutes their courage, patriotism

The people factor in a democracy

BP announces North Sea job cuts

Nigeria, Ukraine, USSR and the West (2)

BOI targets young entrepreneurs with venture capital

AFCON 2015: A preview of tournament favourites

JSE, NSE partner to promote cross-listing, strengthen African capital market

Copper suffers meltdown on growth anxiety

Caribbean hotels reborn

Nigeria’s foreign reserves fall to $34.51bn

FG signs 3 MoUs with Chinese firms on power transmission  

Military repels terrorists’ attack on Biu

Redeploy officers sabotaging operations, Jonathan urges military leadership

Jonathan urges politicians, religious leaders to avoid provocative statements, threats

Annan says Nigeria’s polls can make or mar stability of Africa

Negative sentiments meet DMO maiden bond auction

Banks face cut in profit as costs weigh

N54bn properties lost to fire in Lagos in 3 years  

Osoba finally dumps APC for SDP

Nigeria’s maritime sector can generate N7trn annually, says Agbakoba

Wednesday, January 14, 2015

February polls, presidential fury and generational waste

Capital inadequacy triggers M&A in insurance sector

NEXIM Bank’s strategic plan to boost African trade through efficient transportation

Investors lose N2.2trn as equities take a beating

To bring value to the society we seek to serve, we must develop ourselves as lawyers- ALEGEH, SAN

Nigerian equities suffer contagion of oil price decline

Manufacturing under pressure (4) – Constructive suggestions

UTC flounders, fails to take advantage of Nigeria burgeoning middle class

Surviving the harmattan

As MTN crosses the 60m subscriber milestone (1)

U.S. trade deficit drops to 11-Month low

“Earnings, M&A outlook for upstream firms”

Hope for early passage of 2015 budget dashed

CBN policy fails to lift naira, as currency loses N1.50k against dollar at inter-bank market

Inflation moderates to 8%, stays within single digit in 24 months

Meristem, Stanbic, CSL, Rencap, ChapelHill account for 51% transactions on NSE in 2014  

NNPC rallies Nigerians to fight pipeline vandalism

NCAA suspends Discovery Airways

Gaslink allays fears over gas leakages from its facility

MSMEs stakeholders seek partnership for new Trust Fund as govt interventions fail

Manufacturers urge FG to intensify efforts on security challenges  

Lagos to give financial aids to Balogun market fire victims

Obasanjo advises Buhari to do away with bad eggs if voted president

‘OPEC will no longer shore up oil price’  

Tuesday, January 13, 2015

10 key numbers to shape Nigeria’s economy in 2015

Leaders, history and memories

Shacman trucks off ANAMMCO plant tomorrow

Foreign firms sabotaging Nigeria’s rice policy owe FG N36.5bn

Evil of the year

In short-term, prices could drop below $35 a barrel

Mobile technology aiding agricultural production increases, food price stability

Excess liquidity without lending puts banks under scrutiny

2015 Nigerian oil and gas industry outlook

Davos 2015 and the future of investments in Africa

68, 833, 476 Nigerians to vote in 2015 elections

Sub $50 – oil impact

143 Boko Haram militants killed in clashes, says Cameroon

Performance audit will guarantee sustainable development, says Ikuforiji

Lagos blue-line rail to take 4 hours off travel time between Okoko, Marina

Gwarzo takes over from Oteh at SEC

2015 budget: Kano earmarks N83m for emergency relief materials

MTEF, 2015 budget, PIB top agenda as Senate resumes today

JUSUN strike: FG can’t interfere in constitutional matters of states – Adoke

We are ready for elections, PDP tells opposition

Boko Haram attacks town in north Cameroon, killing one

2015: Okorocha formally declares for second term in Imo

Monday, January 12, 2015

New test for economy as CET begins this month

Reforming the practice of politics in Nigeria 

Economy at risk as lenders review loan facilities upwards

Nigeria’s proposed recourse to the debt market

Nigeria needs aircraft hangars to stem N50bn drain

Europe’s lapse of reason

MTN in full scale digital service drive as voice revenue plummets

CBN monthly FX sales ease 55% in December

Tinubu, Fashola, Ambode and the baton of excellence

Mutual Benefits returns to profitability, records N692m PBT

Negative oil outlook clouds Nigeria prospect

Jonathan promises 8m additional jobs in 4 years

Ajaokuta, Delta Steel Companies to begin production in 2015

FIRS generates N1.19trn in third quarter of 2014

Goods destroyed as fire guts 5 buildings at Balogun Market

Gas tanker runs aground off Nigeria

Naira up as oil firms sell dollars, stocks down

Kofi Annan to address civil society groups in Nigeria on electoral integrity

Investors, developers optimistic of vibrant post-election real estate sector

Nigeria stocks fall in world’s worst week on poll jitters

FG begins design of $5bn Trans-Nigeria Gas Pipeline

MAN raises alarm over growing depopulation of industries in Kano

Economy loses $25bn FDI in telecoms amid low local content push

NAICOM sets up internal committee to drive transformation agenda

Jonathan likens Nigeria’s challenges to Israelites’ journey to Canaan

NUBIFIE tasks government on transparency, prudence

Sunday, January 11, 2015

Politics, corruption, oil price top business leaders’ worries in ‘15

Discretion versus risk aversion

The ten laws of supernatural abundance

Insurance companies sign on new treaties for oil, gas, aviation risks

A tale of two general elections

WEF invites BusinessDay editor as media leader to Davos 2015 forum on’New Global Context’

New Year: Building the foundation for wealth creation

Stocks may hit new lows as OPEC girds for sub – $20 oil

2015: Between strategy and cost-efficiency

Nigeria Cocoa processors groan under huge debts

Saturday, January 10, 2015

Funke Felix-Adejumo, leading women to the winning edge

Who replaces Steven Gerrard at Anfield?

Football Loyalty fading off

Scaling up middle class settlement with new community for living, commerce and retail

Oil price still crashing

Will the campaign be about the economy? We wait and see

Labour union demand cut in fuel pump prices amid decline in global oil prices

Digital currency advocates target massive youth market for bitcoin

Between action governor and action government

The real task before the Igbo

NNPC initiates sensitisation campaign to tackle pipeline vandalism, oil theft

FG releases N3bn to 2011 post-election violence victims in Kaduna

Suicide bomber kills 22, injures 20 in Maiduguri market

Insurgency: 7,300 Nigerian refugees flee to Chad

Falling oil price may negatively affect educational system, says Bell University’s VC

LNG prices resume slide as weak demand weighs

S.Africa stocks slide as Shoprite, Aspen hit by valuation worries

Friday, January 09, 2015

Improved technology best way to fight corruption, says Jonathan

Market Watch: capitalisation dips by N92bn, amid panic selling

INEC to publish voters register on Tuesday

Naira appreciates against dollar at official, parallel markets

Naira seen on the ropes next week, as oil dollar sales dry up

Prices of beans, maize, palm oil increase after festivities

Sterling Bank to deploy additional 5,000 POS terminals nationwide

Tailor-made vaccine set to banish meningitis epidemics from Africa

FG says public financing of infrastructure will gulp N26.9trn in 5 years

Naira gains N3.40k on increased dollar supply

PDP says PIB will address perceived anomalies in oil sector

Coca-Cola to cut 1,800 jobs worldwide

AMCON to start nationalised Keystone Bank sale after elections

Old Mutual will consider raising India joint venture stake

IMF preparing $150m in aid to three main Ebola-hit nations

Boko Haram kills dozens in fresh raids in Nigerian town

Microfinance banks keep N224.6bn in govt. securities, starve MSMES of credit

Internet coverage slows as states obstruct fibre rollout

Jonathan woos youth in second term quest

419 gone local

Stakeholders see devaluation driving non-oil export, local industries

Drug use and abuse

Ebola, malnutrition, starvation and Nollywood