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LCCI, others confirms manufacturers smiling as stable FX brings down financing cost

Major manufacturing companies are now witnessing a decline in their financing cost following stable exchange rate, their resort to cheaper sources of borrowing as well as the adoption of other cost reduction strategies. It was gathered that reliance on bank loans by many companies and the forex scarcity experienced in the country in 2016 had […]

US agency: Nigeria to emerge world’s second largest rice importer in 2019

According to US Department of Agriculture report, Nigeria to emerge the world’s second-biggest rice importer after China, with a projected 13 per cent jump next year to 3.4 million metric tons, “China and Nigeria are projected to remain the largest rice importing countries in 2019, followed by the EU, Cote d’Ivoire, and Iran,” the USDA said […]

Paga, Orange Mall signs exclusive partnership deal

Paga, a mobile money company in Nigeria said it has signed an agreement as the exclusive payment partner to Orange Mall, an e-commerce solution making global shopping from over 250 international retailers available for easy purchase and shipment to Nigeria. The General Manager, Online & Mobile, Paga, Folakemi Falodun, said, “Paga’s partnership with Mall for […]

Key takeways from Second Edition of Edusko Business of Education Summit

Edusko, a leading EdTech company, hosted hundreds of school leaders across Nigeria in its second edition of the Business of Education summit on Thursday, October 25, 2018. The Business of Education, is an annual education event where school owners, administrators, directors, policy makers and education entrepreneurs converge to discuss and proffer solutions to issues and […]

NIPC: Foreign investors pledge $73bn to Nigeria

The Nigerian economy recorded a total investment commitment of $73.08bn in various sectors of the economy between January and September this year. Figures obtained from the Nigerian Investment Promotion Commission showed that the $73.08bn investment commitments were made for 65 projects in 18 states and the Federal Capital Territory during the period. And an analysis […]

NCAA, NASENI to manufacture helicopters locally

The Nigerian Civil Aviation Authority (NCAA) and the National Agency for Science and Engineering Infrastructure (NASENI) are set to collaborate on local manufacturing of helicopters. The Executive Vice-Chairman and Chief Executive Officer of NASENI, Prof. Muhammed Haruna, during a courtesy visit to the NCAA on Wednesday, said the agency had placed an order for a […]

Eutelsat placed as market leader across Nigeria, Cameroon and Ivory Coast

A far-reaching in-depth study, led by Nielsen, of television reception throughout Nigeria, Cameroon and Ivory Coast, has positioned Eutelsat as satellite market leader within these countries. The face-to-face interviews were conducted with 3,000 households in Nigeria, 2,000 in Cameroun and 2,000 in Ivory Coast, representative of the population of the geographical area surveyed. Satellite television […]

Terragon acquires Asian marketing technology firm, Bizense

Terragon, Africa’s leading data and marketing technology company, today announced that it has acquired Bizense, a Singapore-based mobile technology company, in a cash plus stock deal which is the first of its kind and scale in Africa. Terragon which started operations in Nigeria about eight years ago now have offices in Ghana, Kenya, South Africa […]

NEITI: Solid Minerals Contributed N43.2Bn Govt Revenue in 2016

The solid minerals sector contributed a total sum of N43.22billion to government coffers in 2016, reports the Nigeria Extractive Industries Transparency Initiative (NEITI). A breakdown of the figure shows that taxes collected by the Federal Inland Revenue Service (FIRS) accounted for N40.38 billion or 93.43%, while fees collected by the Mining Cadastral Office stood at […]

NIRSAL, CBN, others to increase agric lending

The Nigerian Incentive-Based Risk-Sharing System for Agricultural Lending, the Central Bank of Nigeria and Deposit Money Banks have agreed to stimulate the flow of lending to the agricultural sector during a retreat organised by NIRSAL for chief risks officers of banks, the CBN and other stakeholders in the financial sector. On attendance at the meeting […]

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