Entries are now being accepted for the second edition of PwC’s media excellence awards for 2017.According to a statement released in Lagos by the professional services firm, entries for the award which celebrates excellence in business reporting in Nigeria will close on Wednesday 20 September 2017 with the Award gala night slated to hold on Friday 6 October 2017.The award [...]
Mckinsey, a global consulting firm, says out of the 930 Chinese companies operating in Nigeria, only 317 are documented by the Chinese ministry of commerce.According to a new research report titled 'Lions on the move II: Realising the potential of Africa’s economies', there are over 10,000 operational Chinese firms spread across the manufacturing, construction, trade, services and real estate sectors [...]
The forces behind currency markets and what makes them tick is always an interesting topic, especially when you talk about the Nigerian naira. The strength of a country’s currency is often in direct proportion to their fiscal health and political stability, and this can clearly be seen when you look at the Nigerian economy.The Naira has been battling all kinds [...]
Aliko Dangote, Nigerian businessman and richest man in Africa, says his refinery which is under construction will be completed in the last quarter of 2017.In a recent interview with Bloomberg, the chief executive officer of Dangote Group shared his business ideals and the next step for his business empire.Here are 10 key topics he touched on.REFINERY IN 2017Dangote says his [...]
Sterling bulls were hesitant to make an appearance during Thursday’s trading session, despite UK retail sales exceeding market estimates by rising 0.3% in July.July sales were largely driven by the biggest increase in food buying in almost two years, which offset a decline in the purchase of other goods. However, in annual terms, sales disappointed by growing just 1.3%, which was below [...]
The US dollar remained on the defensive early Thursday, after yesterday’s declines led by increased uncertainty over another US rate hike in 2017 and President Donald Trump’s fiscal agenda after abolishing the Manufacturing Council and Strategy and Policy Forum.The fall out between President Trump and corporate America was the latest blow to his weakening administration. I wouldn’t be surprised to see [...]
African businesses will get a chance to showcase the continent and improve economic relations between the United States and the regions.This will be done with the possibility of exporting qualifying products into the USA duty free at the first ever Trade Expo Africa (TEXA).According to a statement by the organisers, TEXA aims to boost export opportunities in Africa by leveraging [...]
Ahmed Idris, accountant general of the federation, says the federal government is now able to save N4.7 billion that would have been spent on bank charges before the advent of the treasury single account (TSA).Idris gave this figure while speaking at a two-day workshop for finance journalists on the TSA and other public financial management reforms in Abuja.He said the [...]
For the second consecutive day, the Nigerian Stock Exchange (NSE) closed in the negative losing N435 billion after an initial loss of N294 billion on Tuesday.The market, which had a 35-month high, hitting N13 trillion ended in the red on Friday, to recover on Monday and begin the downward movement on Tuesday.Market capitalisation closed at N12,443,508,048,791 losing N435,608,813,894 as against Tuesday's closing [...]
The Nigerian National Petroleum Corporation (NNPC) says it has successfully reduced the cost of producing one barrel crude oil to $23 from $78 as at August 2015.According to a statement signed by Ndu Ughamadu, the corporation's spokesman, this fact was disclosed at the inauguration of the anti-corruption committee by Dafe Sejebor, group general manager of National Petroleum Investment Management Services [...]
