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Nigeria needs $110 bn investment annually to lift citizens out of poverty –Rewane

Nigeria needs to invest a minimum of $110bn annually to be able to lift 10 million people out of poverty each year, Bismarck Rewane, a member of the Nigeria’s Economic Advisory Council, has said. President Muhammadu Buhari  announced last June that Nigeria would over the next 10 years lift 100 million Nigerians out of absolute poverty, which translates into lifting an average of10million…

Banks turn laggards as CBN’s CRR policy takes shine off lenders’ stocks

Negative sentiment greeted the Cash Reserve Rate (CRR) raise by the Central Bank of Nigeria (CBN), as big lenders’ stocks slumped Monday with the sector emerging day’s worst performer. Apart from Guaranty Trust Bank which traded flat, tier-one banks lost, bringing the sector’s index 1.19 percent lower in the day, while the broader market dipped 0.26 percent. CBN’s Monetary Policy Committee…

Lagos gov. restricts ‘Okada’, Keke as 600 deaths, 10,000 accidents recorded in 4 years

After what seems forth and back debate with all stakeholders, the Lagos State government, on Monday, finally resolved to begin strict enforcement of its laws which restriction motorcycle (Okada) and tricycle (Keke)  on some roads and bridges in the state. The decision arrived at during the security council meeting of the state government, chaired by Governor Babajide Sanwo-Olu, is motivated by…

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Wealth And Investing

How investors can take advantage of FGN Bond issuance in Q1 2020

The Debt management office (DMO) has released the calendar for 2020 first quarter FGN Bond issuance. FGN Bond is a bond issued by the Nigerian government in exchange for cash at a given interest…

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Women in Business

‘We need to build bridge between female engineering graduates and…

Funmilola Ojelade is the newly installed president of the Association of Professional Women Engineers of Nigeria…

Reva Stryder: Designed in Lagos, handcrafted in Italy

In 2014, Temitola Olanrewaju started her career as an Executive Trainee in Corporate Banking. As a relationship…

Women in Business: Clare Omatseye

Clare is the Founder and Managing Director of JNC International,   a 12-year old Turnkey Medical Equipment…

Women in Business: Nkasi Obim Nebo (PhD)

Nkasi Obim Nebo (PhD) was recently named Nigeria’s winner for the Commonwealth Points of Light Award by Her…

Sponsored

An overview of The Insurance Industry in Nigeria

The insurance industry of Nigeria consists of 57 registered insurance companies. 14 of them are in the life…

Rage Group, Africa’s Fastest Growing Media and Communications Company…

It’s no surprise that a company fueled by the instinct of the king of the jungle tops the Business Day’s 100…

Kuda Starts Banking Revolution In Nigeria With Free Transfers For All…

Kuda, a digital-only bank licensed by the Central Bank of Nigeria, has kickstarted a revolution in Nigeria’s…

Companies

OGFZAA vs Staff: Industrial court fixes Feb. 27 for hearing

The National Industrial Court on Monday fixed February 27 to hear the suit filed by a suspended staff of the Oil…

Sahara’s Asharami Energy says on-going talent recruitment to aid landmark…

Asharami Energy Limited, a subsidiary of Sahara Group Upstream, has commenced a recruitment exercise targeted at…

Nigerian equities fall out of favour as December foreign inflow drops to…

Following Central Bank’s restriction of locals and non-banking corporates from  participating in the high-yielding…

Economy

Nigeria needs $110 bn investment annually to lift citizens out of poverty…

Nigeria needs to invest a minimum of $110bn annually to be able to lift 10 million people out of poverty each year,…

CPI climbs to a nine-month high on border closure

It has been over three months since the Nigerian government closed its land borders. It was a move aimed at…

Border re-opening: Businesses, W/African nations await FG as Jan. 31…

As the January 31 deadline for the expiration of the first phase of the Joint Security Operation ‘EX-SWIFT’…

Energy

NLNG signs Sale and Purchase Agreement with Eni

Nigeria LNG Limited (NLNG) and Eni have signed a LNG Sale and Purchase Agreement (SPA) for some of the remarketed…

IPMAN threatens strike over non-supply of kerosene to NNPC Calabar depot

The Independent Marketers Association of Nigeria, (IPMAN), Cross River State chapter has explained that the Union …

Nigeria Says Official Got Bag of Cash from ‘Sham’ Energy Firm

Nigeria is alleging that suspicious payments were made to officials involved in the award of a 20-year gas supply…

Politics

Updated: Tambuwal emerges PDP governors’s chairman

Sokoto state governor, Aminu waziri Tambuwal on Monday, emerged the chairman of the People's Democratic Party (PDP)…

Crisis in Senate over denial of Omo-Agege as head constitution review…

Indications have emerged that there is serious crisis brewing within the ranks of the Senate over a reportedly…

Tambuwal emerges PDP governors’ chairman

Sokoto state governor, Aminu waziri Tambuwal has emerged the chairman of the People's Democratic Party  (PDP)…

N37bn NASS renovation budget, $29.9bn loan, constitution amendment,…

The Ninth National Assembly will resume on Tuesday and top on agenda for lawmakers' debate are N37 billion…

Life and Culture

Minister woos investors to Nigeria’s Creative Industry

The Minister of Information and Culture, Lai Mohammed, has urged investors to take advantage of the burgeoning…

Mr Jollof and other Influencers create value in a struggling economy

How did Mr Jollof, Warri-born, social media influencer, end up being chauffeured through London in the back of a…

‘I spend ₦ 200,000 on therapy sessions every month’

In the spirit of World Mental Health Day,  on today’s episode of ''How I spend it'', we share the diary of a young…

How I Spend It: Is ₦2million enough savings in Nigeria?

Going by how boring life can get for young professionals, the need to add some spice comes up more often than not.…

Technology

Why next Bitcoin Halving matters to cryptocurrency traders

By May 2020, it would be the fourth year since the cryptocurrency market had a Bitcoin halving, which occurs once…

Eleven days after SAT3, WACS outages, repair vessel yet to reach site

The Leon Thevenin, a ship carrying engineers and equipment to the West Africa Cable System (WACS) Sli cable grounds…

Airtel gets new number range, 0904

Telecommunications services provider, Airtel Nigeria, has announced that it has added 0904 number series to its…

Impact on the Digital Economy

Technological changes are constantly shaping business relationships and organizations have continued to refine…

Market Intelligence

13 Banks set to record combined N955bn in net profits in 2019

If there were any doubts that banks are true titans of business in Nigeria, the 2019 performance of Nigerian banks…

Dangote Cement is the most profitable company in Nigeria

A glimpse of Dangote Cement finances reveal that is it Nigeria’s most profitable company. The largest company by…

Why Presco’s stock price fell by almost 30% in 2019

Presco Plc, Nigeria’s second largest agricultural firm by market capitalization saw its stock price decline by 26…

The N781bn wall of liquidity set to sustain equities rally

Analysts are increasingly pointing to potential investments from Nigerian pension funds this year to sustain a…

Financial Times

Vladimir Putin hands new PM mandate to begin spending spree

Mikhail Mishustin, Russia’s new prime minister, made his reputation collecting money for Vladimir Putin. His next…

Saudi Arabia takes £350m shot at Newcastle United

As Newcastle United were held to a goalless home draw on Saturday in an FA Cup match against third-tier side Oxford…

Why big pharma sees a remedy in data and AI

When Mac Holmes noticed a lump in the middle of his chest it took him a year to mention it to his physician. The…

Democrats dream of Bolton bombshell in impeachment trial

When Democrats push to call witnesses in the Senate impeachment trial of President Donald Trump in the coming days,…

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Businessday Investigates

Customs, police, army using fake document to extort farmers – Federal agency implies

Some officers of the Nigeria Customs Service (NCS), Nigeria Police, and the Nigerian Army have been at the centre…

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Coronavirus: ECOWAS tasks states on active surveillance, collaboration

Following the detection of a suspected case of Coronavirus in Abidjan, Ivory Coast, the Institution of ECOWAS for…

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Nigerian workers are biggest losers in FG’s plan to raid pension funds for N2trn

Nigerian pensioners will be lending to the government at an interest rate well below inflation rate if the Federal…

Regulatory headwinds cast a pall on banks’ future dividends

In the last eight years, Nigeria’s five largest banks have paid a total of N1.25 trillion in dividends to their…

Here’s how you benefit if Nigeria replicates telecoms success story on subsidy regime

Nigeria may have forgotten so soon the huge success story recorded in the telecommunications industry following the…

Banks’ deposit with CBN to rise by 22% on new CRR implementation

It is likely going to be a tough year for the banking sector, following the new Cash Reserve Ratio (CRR) announced…

Women In Business

‘We need to build bridge between female engineering graduates and multinationals’

Funmilola Ojelade is the newly installed president of the Association of Professional Women Engineers of Nigeria…

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Energy & Technology

Financial Times

Vladimir Putin hands new PM mandate to begin spending spree

Mikhail Mishustin, Russia’s new prime minister, made his reputation collecting money for Vladimir Putin. His next…

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Nigeria needs $110 bn investment annually to lift citizens out of poverty –Rewane

Nigeria needs to invest a minimum of $110bn annually to be able to lift 10 million people out of poverty each year,…

‘Rate of under-five children’s death in Nigeria unacceptable’

The Permanent Secretary, ministry of Health, Abdullaziz Abdullahi has decried that the rate of under-five…

Auto policy must prioritize industry, national and consumer interest

To many stakeholders and original equipment manufacturers (OEM)s, the delay in cleaning up Nigeria automotive…

Updated: Tambuwal emerges PDP governors’s chairman

Sokoto state governor, Aminu waziri Tambuwal on Monday, emerged the chairman of the People's Democratic Party (PDP)…