Businessday Nigeria Archive for June 2015

Monday, June 29, 2015

Buhari inaugurates NEC, challenges governors to pay outstanding workers’ salaries

AfDB to spend N3bn on infrastructure in Kano

Fire at Agip facility in Nigeria halts 20,000 bpd production

UNESCO says $2.3bn needed to send 34m children, adolescents to school

El-Rufai appoints Chief of Staff

Novartis buys pain drug firm Spinifex

Greece closes banks, limits ATM withdrawals

Ebola-hit African countries firm up economic recovery strategies

Nigeria plans to sell 180-240 bln of naira bonds in Q3

Nigeria’s external debt stock stands at $9.4 trillion — DMO

Forte Oil, Siemens sign $83m contract to upgrade power plant

Concept Nova extends TI-KON tracker sale to offline retail space

6 fuel-laden ships arrive Lagos ports

Aremu advises Buhari to ignore calls for fuel subsidy removal, naira devaluation

Kebbi distributes Ramadan support materials worth N14 million to less privileged

bond yields rise on FX, higher borrowing risks

Don urges FG to elevate standard of technical, vocational education

Naira down 2.7 percent since new CBN FX rules

Rusal spends $6m yearly to maintain ALSCON

NNPC at bottom of global disclosure ranking

Court reverses suspension of FHA Homes MD

Telcos make content provisioning inroad as data revenue lags Telecommunica

Shell extends Caverton helicopter contract for 2 years

Oil and gas stakeholders differ over payment of dividend from NLNG to federation account

Afam VI delivers 20m MWh electricity into national grid in 7 years

Sunday, June 28, 2015

Buhari euphoria fades one month in as investors await direction

S/African Liberty, UK Prudential, 10 others push for Nigerian insurance market

CGPI names El-Rufai Governor of the month

A beautiful mind

Bound to despair

Sovereign Trust Insurance start year with profit despite premium drop

Monitoring your health risks will give you longer life, save cost

El-Rufai’s exemplary leadership on cost of governance

New emerging-economy development banks are taking off

Why we have to be very careful

Friday, June 12, 2015

APC and the crumbling edifice

Ikpeazu will be first ‘Common’ governor in Nigeria – CPS

Interbank rates unchanged for second straight week

Attacks on peacekeepers, civilians in Darfur increasing says U.N.

Ambode pledges to expand frontiers of democratic governance

Nigeria bonds yields up

Austria urges Buhari on fighting corruption

South Africa considers tax reforms to raise revenue, says official

AU summit: African states consider single currency, passport

NIPC assures Chinese company of support

Buhari will act on Amnesty International report on rights abuse says spokesman

Union tasks NASS leadership on reconciliation

Buhari extends G7 requests on Boko Haram to LCBC

NDIC submits 2014 report to financial council

Speaker promises to partner with Gov. Ortom to move Benue forward

Stop meddling in South China Sea dispute, China tells Japan

South Africa xenophobia attack under spotlight at AU summi

Unpaid subsidy claims hinder importation of fuel says DAPPMA

NAICOM has organised over 200 workshops, training for stakeholders

NULGE tasks 8th National Assembly

ICT stakeholders task ISPs on facility upgrade for better service delivery

NSE steps up regulation of online trading

Mark, not Senate leader, says Melaye

Bayelsa: PDP blames APC, police for rescheduled election violence

We’ll make Lagos investors’ delight, Ambode assures

CBN, banks to name and shame loan defaulters over N450bn NPLs by August

Low prospects in oil-producing Nigeria, Angola to pull SSA growth to 4.2%

Thursday, June 11, 2015

Nigerians feel strain as oil slide hits main street

Telcos target $1.5bn mobile money revenue amid regulatory constraints

Abuja property market set for boom with new lawmakers, politicians

US becomes world’s biggest oil producer in 2014

Stefan Borgas’ global ambitions

Lee Kuan Yew: Lessons for African leaders

Housing and falling budgetary allocation

Make your time productive to improve your money worth

A moment at Mode gallery

FIFA Women’s World Cup: Nigeria, Australia in a must-win cracker

Examining the role of NCS in rice importation

Transcorp’s aggressive expansion plan weighs on bottom-line

Community development important to my administration, says Ambode

Court sustains order restraining NERC from implementing proposed new electricity tariff

NNPC to inject 1.1bn litres of petrol into system to ease scarcity

Insurgency:USAID, UN sign N2.09bn grant deal to assist IDPs

Buhari insists Nigeria retain leadership of Boko Haram’s taskforce

Prices of food items soar in Lagos markets

Stable electricity, efficient security attract says entrepreneur

Lawyer blames EFCC for filing frivolous charges against past governors

Lagos state government declares June 12 work-free day

African leaders urged to mobilise domestic resources to support investment, export

Fitch cuts South Africa growth forecasts on energy shortages

Bailed-out African Bank expects of more losses

Ghana to add 1,000 MW of power and end blackouts in 2015

CBN pegs naira/dollar exchange rate at N196.90

Oil prices fall as World Bank cuts economic growth outlook

PZ Cussons’ FY performance in line with expectations

World Bank sees slower global growth, urges Fed to wait on rates

Ex-Gov. Babangida Aliyu asked to refund N2.9bn

African textile exports may reach $4 bn under U.S. trade deal

Kano Govt. inaugurates N140m Injection sub-station at Tamburawa

Stock market sheds N10bn as sell pressure persists

INEC suspends Brass 2 rescheduled election result

BRT boosts operations with 100 new buses

Nigerian real estate gets $100m architectural boost

End fuel scarcity now, NLC tells Buhari

Naira falls N1.28k against dollar at inter- bank market

Summit on Boko Haram holds in Abuja

Ignorance blocks SMEs from CBN N200bn facility

Ambode may seek re-ordering of 2015’ N489.690bn budget

Political office holders face pay cut as RMAFC reviews remuneration law

Jaiz Bank breaks even in 3yrs

Wednesday, June 10, 2015

Nigeria faces $20bn in short term liabilities

Insurers cash-in on informal sector potential for higher retention, profitability

Govt must move quick on infrastructure, healthcare, education says WEF

National Assembly elections and the trouble within

Emotional rollercoasters

Stock market sentiment still favours bears

Why Africa needs to become more like China

SWIFT Networks acquires Chromecom

Communities stall Enugu – Ikot Ekpene 330KV NIPP Transmission Line Since 2010

Ambode has begun well

Atiku, Nyako, Gov Jibrilla and Adamawa people

FG urges ILO to set up permanent office in Nigeria

Jaiz Bank records 220 per cent income increment in 2014

NSE moves 590.79m shares worth N4.13bn

Nigeria performs excellently in ICAO’s audit

Removing Nigeria from JP Morgan bond index list will affect naira says analyst

SEC urges state govts to embrace capital market for infrastructural development

Kogi commences free distribution of new maize varieties to farmers

Stanbic IBTC to raise N20.4bn in rights issue

Consulate General set to host Buhari in South Africa

UNICEF appeals for humanitarian aid to child refugees

We are not going to sell the National Theatre – GM NAN-ELS-1

FEATURES: Cutting cost of governance in Nigeria

Stakeholders task new govt. to review auto policy

42 ships laden with fuel, food items to arrive Lagos

Unverifiable addresses hinders registration of workers in the informal sector

China vehicle sales fall again in May

IPMAN committed to end fuel scarcity in Kaduna

Protect girl-child, NGO urges National Assembly

2,100 Boko Haram victims to benefit from UN rebuilding of North-East

Osun cassava farmers demand more govt. financial support

Large cap stocks drag Nigerian market further south

Amosun pledges non-interference with legislative affairs

Lekki Gardens provides insight into successful real estate investment

‘About 80% of commercial disputes in courts can be reduced through arbitration’

FG to issue $353 domestic bonds next week

Maersk targets Nigeria, Kenya ports in Africa expansion push

NBS’ new data show Nigeria’s informal sector drove total jobs to 474,000 Q1 2015

NSE market capitalisation drops further by N34bn

EU Commission approves $44.82m for police, internal security

DPR assures public of adequate supply of petrol, deploys 300 trucks to FCT

Bosch opens Nigeria’s outlet to boost economic activities

APBN tasks Buhari to immediately embark on implementation of his programmes

Tuesday, June 09, 2015

Power, skills, policy stalling manufacturing benchmark

APC cries foul, Buhari congratulates, as Saraki Ekweremadu lead Senate

The 8th National Assembly

GEMS4 plastic crates initiative seen as solution to tomato wastage

Exploring technologically savvy alternatives to sending money abroad

The world is spinning out of control: who takes responsibility in crises and conflicts?

Equity Assurance low margins accentuates insurance firm’s low caps  

OPEC meeting: No surprises!

Investors’ questions on mini-refining opportunities in Nigeria

‘Capacity shortage, skills gap causing premium flight in African insurance market’

Drones for development

APC rejects the election of Saraki, Dogara as Senate President and House Speaker

Dogara elected as new House as Assembly speaker

Why upscale locations are viable investment destinations

CBN Scam: Court reserves ruling on bail till June 15

G7 expresses willingness to support Buhari

10 ships laden with fuel, food items arrive Lagos

China flays G7 remarks on East, South China Seas

Ghana seeks $15bn over 10 years to close infrastructure gap

UN appoints new UNICEF deputy chief

Vandals attack Ije-Ododo pipeline, NNPC shuts facility in Lagos

CBN, RUFIN move to promote financial inclusion in rural areas

Gambia’s Jammeh wants ICC to investigate migrant deaths

Telecom equipment not responsible for health hazards – NCC official

Ike Ekweremadu re-elected as Deputy Senate President

SoundCloud signs deal with 20,000 independent labels

Apple launches music streaming service

Tax Appeal Tribunal adjourns N1.2bn suit filed against FIRS

Bukola Saraki is new Senate president

Lagos Police Command investigates N3.4m theft in Justice Ministry

Faulty Aircraft: NCAA commences immediate investigation on AERO incident

North has the highest rate of early marriage in Nigeria, says WOTCLEF

ISPs devise new tactics to boost customer retention, revenues

More banks search for bond liquidity on OTC platform

Naira strengthens against dollar at BDCs

Ambode seeks legislative support as 8th Assembly begins sitting

NMRC N140bn bonds assigned ‘Aaa’ credit rating by GCR

Community shut Agip facility for negotiation

95m Nigerians rely on wood, kerosene for energy

Monday, June 08, 2015

Taleveras winds down Duke/NNPC oil swap arrangement

Professionals tell how ICTs present shortcuts to governance, economy

Lagos, Abuja, PH account for 65% of real estate activities in Nigeria

Memo to Muhammadu Buhari, president, C-in-C (3)

‘PR must go beyond functional messages’

WEF: Global Shapers’ initiative, Coke’s move to rebuild Africa

Vicious circle in coastal shipping (3)

The Buhari administration: Addressing the challenges we face

Corruption, security agencies and national security

Borrowing costs, rising Opex pressures International Breweries profit growth

China signs $50m South-South Cooperation pact with FAO

China’s export decline narrows, imports still troubling

Ghana mourns 200 flood, fire victims

NCC says telephone penetration now 103%

NDPHC blames delay in completion of transmission lines on vandals, host communities

Military moves anti-Boko Haram HQ to Maiduguri

21 million people in forced labour globally

N8 billion currency scam: Court fixes June 11 to hear bail applications

G7 threatens further sanctions against Russia

Ecobank names Ade Ayeyemi as new CEO

Nigeria, others to benefit from Coca Cola’s $4.5m youth empowerment initiative

‘Holistic approach to regional integration vital for Africa’s economic development’

New development goals to boost Africa’s fight against poverty

JPMorgan may eject Nigeria from key bond index by year-end

Chinese firm to invest $45m in steel plant in Lagos

MultiChoice reassures on investment on content, service

Boost investment in Africa’s energy for a triple win for people, power and planet, Annan report urges

Sunday, June 07, 2015

Focus shifts to Buhari’s economic team as revenue crisis rages

NAICOM pursues multi-sector strategy to drive compulsory insurance business

46 stocks get revival boost in SEC’s new price-floor

Lagos consolidates position as African financial hub

Free gas from protocols, politics, stakeholders demand

The primacy of industrial policy

False hopes lead to a dead end

Will Buhari walk the talk?

Europe’s last act?

Dangote set to invest $16bn in Africa in 3yrs

Textile makers’ woes mount as smuggling reduces production to $40m

Saturday, June 06, 2015

The future belongs to Nigeria’s entrepreneurs 

EPL revenues soar to £3.26billion

Seplat’s gas profit soars as oil revenue falls

Eight interview etiquette blunders and how to avoid them

Building capacity in the capital market

SBL conference and Nigerian economy

Seven Energy Plc: First Quarter profit growth authenticate aggressive expansion drive

Hand-over 2015: Saving Nigeria’s economy from its ‘deep trouble’

Universal Compulsory Free Primary & Secondary Education

Illicit tobacco trade and brand destruction

The dream killers

An act of God

Friday, June 05, 2015

UN asks Buhari to prosecute crimes by army, Boko Haram

Oil prices rise after OPEC keeps low output target

FDI can boost poorest economies, says UNCTAD

Group to train 150 farmers in modern farming techniques in Kano

Etisalat to sell stake in Tanzania’s Zantel to Millicom

NSCDC shuts 15 illegal guard companies in Anambra

NAICOM declares zero tolerance for board, management squabbles in insurance coys

Yola blast: Hospital urges public to donate blood

Shareholders kick against SEC’s directive on unclaimed dividends

Encouraging multinational firms to raise corporate bonds seen as key to deepening capital markets

Experts seek maximization of economic relations between Nigeria, China

Crisis rocks APC over national assembly leadership

Nestle pulls Maggi noodles off Indian shelves as food scare spreads

‘Nigeria loses N2trn to tax evasion, cyber crimes’

Naira gains as CBN pegs exchange rate at N196.95k

Video Conferencing Tools Make Communication Easy for Home Business Owners

Thursday, June 04, 2015

Nollywood loses over N7.5bn to piracy yearly

OPEC holds crunch meeting today without president Diezani

Nigeria more compelling investment destination – Doyin Salami

Be kind to one another

9 mega-trends shaping the future of Africa

Fortis Microfinance Bank survives tough operating environment

Need for rethinking of local operatorship of Nigeria’s oil acreage

The impunity trap

Champions League final: Can Juventus survive Barcelona’s ‘MSN’ onslaught?

Towards combating environmental degradation

Arik Air ranks top in world’s ten best economy class seats  

U.S and Nigeria renew cooperation to fight Boko Haram

Blatter set to start FIFA reform

Nigeria move two places up in latest FIFA ranking

NABDA set to ensure national food security

Currency scam: Court remands 5 other bank officials in prison

Faulty air bag: Mazda recalls fresh 75,000 cars in Japan

30 agro-tourists from Nigeria to visit Songhai Farm in Benin Republic

SON siezes fake baby diaper worth over N200m from 3 Chinese

CBN adjusts FX rate peg to 196.95 per dollar

EFCC charges more bankers with N8.27bn currency fraud

Gates Foundation to spend $776 million tackling hunger

FX uncertainty slows investment as market players await CBN’s policy action

Interswitch in fresh expansion push, considers IPO in London, Lagos

Buhari-G7 meeting-TUC, PENGASSAN make case against oil theft

NIPCO cushions fuel agony, imports 37m litres

WEF: Business leaders push for cooperation among regulators as key to financial inclusion

Wednesday, June 03, 2015

Turn Nigeria’s successful polls into good economic policies- Say investors at WEF, Africa

BusinessDay launches Nigeria-South Africa Investment Summit at WEF

$350bn extra revenue possible for Africa

Global oil glut leaves Nigeria with bruises all round

Central Bank and its filthy notes

Before Buhari appoints ministers

Economy in transition (4)

Building competitive advantage in fast moving markets

Positive sentiments trail equities as new government berths

Memo to Nigeria’s social media-shy CEOs (1)

After the Inauguration…

Russia oil output nears record before OPEC meeting

Internet society report points to rapid internet growth in Africa

FIFA crisis: FBI to probe 2018, 2022 World Cup host awards

Poor financing, operational strategies stall NSE’s Investors’ Protection Fund

IFAD calls for sustained agricultural development in communities

Mobile phone access in Africa to double by 2020

FG raises N116bn in T-bills, yields fall

Senate passes 46 bills in 10 minutes

Boko Haram: Amnesty International releases shocking video of Nigeria military war crimes

Canada’s Come By Chance refinery buys Nigerian oil for first time in 10 years

FG must increase natural gas prices to boost production, says Bolaji Osunsanya

Taiwan seeks improved business relationship with Nigeria

PENGASSAN tells government to deregulate oil sector

NERC moves to legalize illegal billing, experts allege

Swiss-Re in talks for Nigerian acquisition to tap African growth

Glo expands retail outlets in Benin

OPEC finds oil output consensus: “Don’t rock the boat”

Sub-saharan Africa M&A deals fall to lowest in 10 years on unattractive commodity prices

Tuesday, June 02, 2015

Buhari risks Brazilian type discontent without quick reforms

BusinessDay hosts economic session as WEF kicks off in S/Africa

Registrars under scrutiny as SEC applies new measures on unclaimed dividend

Buhari’s inaugural speech

Expectation as oil, gas crisis welcomes new administration

Strengthening a public health approach to the world drug problem

The business case for sustainability

Dysfunctional predatory governance at FRC (1)

Ranger Odyssey contest in Namibia produces Nigerian qualifiers

Awaiting Buhari’s economic blueprint

MasterCard brings mobile payments to andriod device owners

Huge Borrowing costs dent Japaul Oil’s bottom line

Embattled FIFA president Sepp Blatter resigns amid scandal

EFCC sues CBN, banks officials over N8 billion fraud

Bomb blast hits market in Maiduguri city, 50 reportedly killed

Electricity companies oppose stopping of estimated billing

BASG pledges to improve investment in agriculture

African leaders thumb up for AfDB’s financial results

Africa govts lose $11bn in taxes to multinational, says Oxfam

Bashir sworn in for new presidential term

Niger meningitis epidemic has peaked, 545 dead

PIPP LVI Genco plans 200mw for Lagos

Buhari to appoint ministers after inauguration of 8th legislative assembly

CBN dismisses staff involved in N8bn mutilated note scam

Nigerians defy FX pressure in N387.5bn imported Chinese goods

Industrialist wants Buhari to deregulate oil sector, stem exchange rate volatility

Prestige Assurance pays $5.7m claim on Dana Air crash

WEF: Global leaders converge on S/Africa to discuss Africa as new economic frontier

AfDB Presidency: How Buhari, Amosun’s phone calls prompted my emergence – Adesina

Monday, June 01, 2015

CBN balance sheet up 30% to N13.7trn in 2 years

Long waits, rude staff, bureaucracy, top complaints against public hospitals– BRIU Report

Memo to Muhammadu Buhari, president, C-in-C (2)

Investors await Buhari’s economic blueprint

Automotive sales to hit $89m, buoyed by internet growth

Vicious circle in coastal shipping (2)

67% drop in budgetary allocation seen challenging Buhari’s 1m houses promise

Experts assess education sector performance, chat new course for Buhari

Ambode and the burden of expectations

Etisalat PR account: Pitch fee payment uncertain

The FIFA syndrome

NIPCO releases 49.5 million litres of fuel, imports 28 million metric tons

EFCC to charge six CBN officials, 16 banks for N8bn fraud

OPEC oil output in May reaches highest since 2012

‘Investment in health, education, others can generate $500bn annually in Africa’

Nigeria faces challenge of meeting 2015 MDG 7C target

Telcos, data centre operators target $121bn revenue in cloud services

Investors advised to explore REITs as alternative real estate financing

Rendeavour partners with Lagos State on a multi-billion naira urban development

UNFPA to spend $75m on health, data generation in Nigeria – Osotimehin

President Buhari appoints Adesina, Shehu as media spokesmen

Sunday, May 31, 2015

Stakeholders speak up as Buhari addresses MSMEs

FMCG firm’s woes mount as fuel scarcity slows consumer spending

PDP’s post-defeat trauma and the cycle of grief

Emergence of Akinwunmi Adesina as new AfDB president

US interest rates raise mount pressure on Nigeria’s foreign reserve, naira

CSCS PAT surges 330% in 5 years

NIBBSS partners PenOp to launch e-Pension Contributory System

Into the Buhari era: The Nigerian dream

In this time of economic downturn, insurance is the necessary

Hope (?) and the day after

The National Corporate Governance Code 2015 (Exposure Draft) – A Magic Bullet