‘Manufacturing Contributes Only 4% To Nigeria’s GDP’
THE Director General of the Manufacturers Association of Nigeria (MAN), Mr. Remi Ogunmefun has stated that despite the challenging operating environment characterised by poor electricity supply, high borrowing cost, infrastructural inadequacies and rising foreign exchange rate, among others, the manufacturing sector contributes an average of four per cent to Nigeria’s GDP.
Payments system: De-risking inclusion rate
The renewed campaign on financial inclusion in the country may have yielded positive results as the current rate of adoption has moved up by 6.8 per cent to 60.5 per cent.
Continent’s leaders urged to foster entrepreneurship development
A leading Nigerian businessman, Emperor Chris BaywoodIbe, has advised African leaders and governments to empower their entrepreneurs to facilitate intra trade as a way of achieving rapid socio-economic growth and development on the continent. He said no one would develop Africa better than Africans, thus re-echoing President Barack Obama’s recent charge on his visit to…
‘Despite challenges, Africa’s rising narrative is sustainable’
EY said the Africa’s ‘rising narrative’, which was premised on assessed economic potentials in the continent is sustainable, as there are remarkable positive trends in the last few years. While noting that uncertainties, which affect growth projections exist, it pointed out that Nigeria’s political trajectory, alongside other African economies, has become watershed in the region’s…
Firm Seeks Govt Intervention In Aluminum Sector, Explains Growth Strategy
A FRONTLINE pioneer aluminum extrusion company, Nigerian Aluminum Extrusions Limited (NIGALEX) has unfolded strategies to boost its operation, reinforce its competitive edge and put the company on the path of greater profitability.
CSR: Chinese Consulate, Firms Collaborate To Revamp Lagos School
AS part of its corporate social responsibility project and towards fostering better relations between Nigeria and China, the Chinese Consulate in Lagos in collaboration with China Civil Engineering Construction Corporation (CCECC) and other Chinese firms in Nigeria has rehabilitated a block of six classrooms at Satellite Junior Secondary School, Satellite Town, Lagos
Fayose to commission Sterling Bank’s e-Library project
The Executive Governor of Ekiti State, Ayodele Fayose will on Wednesday commission the e-library built by Sterling Bank Plc for the College of Education, Ikere-Ekiti, Ekiti State.
Standard Chartered leads $1.2b NNPC-Chevron’s JV financing
Standard Chartered, the parent company of Standard Chartered Bank of Nigeria has brokered a $1.2 billion Joint Venture (JV) funding for the Nigerian National Petroleum Corporation (NNPC) and Chevron, which has a 60-40 per cent interest in the project respectively.
Tier-2 banks worst hit by global oil crisis’
The nation’s Tier-2 banks have been adjudged to be the worst hit in the lingering sliding fortunes of international crude oil price, which has affected various calculations of cash flows upon which credit facilities were granted by the banking industry.
Group Welcomes Call For Stronger Trade Ties With China
THE Goods Made-in-China Importers Association (GMIA) has expressed delight with the recent call by the Chinese President, Mr. Xi Jinping for better cooperation with Nigeria on trade and investment.