Business Tips

'Nigeria Generates 24m Tonnes of Waste Annually'

Nigeria currently generates 24 million tonnes of waste annually at refuse dumpsites across the country, an environmental expert has said.

Dr Chukwukelo Chukwogo, the Managing Director of Boskel Nigeria, made the claim in the official bulletin of University of Port Harcourt (UNIPORT), a copy of which was given to News Agency of Nigeria in Port Harcourt on Tuesday.

Chukwogo made the claim when he delivered a lecture in the university.

Osinbajo Hosts Ghanaian President Akufo-Addo

Acting President Yemi Osinbajo on Tuesday received the visiting Ghanaian President, Nana Akufo-Addo, at the Presidential villa, Abuja.

Akufo-Addo arrived at the Villa and was welcomed by Osinbajo who ushered him into the Acting President’s office.

The visit lasted for barely four minutes as the Ghanaian leader proceeded immediately to the National Defence College to deliver a lecture to the college graduands.

Akufo-Addo won the country’s 2016 presidential poll against the incumbent, John Mahama, by a margin of 9.45 per cent.

Expert Predicts Mixed Performance of Equities

A financial expert, Ambrose Omordion, has predicted that activities in the nation’s bourse this week would be trailed with profit taking following fund managers window dressing.

Omordion, the Chief Operating Officer, InvestData Ltd., told the News Agency of Nigeria in Lagos that the market would witness profit taking after month-end dressing by fund managers.

He said that the market would experience mixed performance due to expected account rebalancing by fund managers which would lead to profit taking in preparation for the month of August.

Scaling Up Impact Investments to take centre stage at the Global Ethical Finance Forum

A leading financial intelligence platform spearheading the agenda of sustainable and inclusive finance, Middle East Global Advisors, will convene the second edition of the much-coveted Global Ethical Finance Forum (GEFF) in Edinburgh, Scotland. Based on a strategic partnership with Islamic Finance Council UK (UKIFC), the Forum will be held under the patronage of the Scottish Government, and will be hosted by the Royal Bank of Scotland (RBS), building upon the legacy of the inaugural Forum held in September 2015.

Port Operators Suggest Joint Cargo Inspection by SON, Others

A Trustee of Shippers Association Lagos State, Odolo Nicodemus, has advised the Standards Organisation of Nigeria (SON) and other government agencies at ports to jointly inspect cargoes to reduce time of doing business.

Nicodemus gave the advice in an interview with the News Agency of Nigeria on the sidelines of a one-day Sensitisation Workshop titled : “SON ACT 2015 and Ease of Doing Business,’’ in Lagos on Wednesday.

World Bank to Spend $495m on Irrigation in Nigeria

The World Apex Bank is to spend 495 million dollars on irrigation schemes in Nigeria, Minister of Water Resources, Mr Suleiman Adamu said on Thursday.

Adamu in an interview with the News Agency of Nigeria expressed hope that World Bank-funded 495 million dollars Transforming Irrigation Management in Nigeria (TRIMING) programme will revamp irrigation management in Nigeria.

He said that the seven-year programme was targeted at rehabilitating five irrigation schemes in five Northern states.

Annual inflation slows in June, but still above 16 percent

Annual inflation in Nigeria eased for a fifth straight month in June, slowing to 16.1 percent, the National Bureau of Statistics (NBS) said on Monday, Reuters reports.

A separate food price index showed inflation at 19.91 percent, up from 19.27 percent in May, indicating continued pressure on food prices, the NBS said in a report.

Annual inflation slowed in May to 16.25 percent. It recorded its first recent slowing in February.

Tough Market Conditions: Big Shift in Nigerian Shopping Patterns –Report

Beset by challenging macro-economic forces due to global commodity- turmoil, Nigeria’s market conditions are set to recover but the reality is that in the interim they have compelled Nigerian consumers to make fundamental changes in what, where and how they shop.

These are the findings in a new report from Nielsen titled ‘Navigating the New Normal in Nigeria’ which points out that the country’s sustained potential and the strength of its recovery, now hinges on business resilience and adaption to meeting consumers’ needs in a time of change.

Nigeria Sees Debt Service of $483.4m on Foreign Loans in 10 years –DMO

Nigeria's debt office plans to use $483.4 million to service its foreign debt over a 10-year period and make repayments starting from next year as its dollar debts begin to mature, it said in its annual report.

Debt Management Office (DMO) projects debt service repayments to amount to a total of $4.47 billion to be made in 2018, 2021 and 2023, Reuters reports.

Nigeria issued a debut eurobond in 2011 with a follow up tranche in 2013. Between February and March the West African country issued $1.5 billion due in 2032.