Tag: business nigeria

How low production and manufacturing kills Nigerian economy

Minister of Budget and National Planning, Mr Udoma Udo Udoma, has blamed the slow growth of Nigeria’s economy on weak production and manufacturing sector. Udoma told members of The Situation Room, a civil society group, on Tuesday in Abuja, that economic downturn had made the Federal Government to focus on the fundamentals of issues frustrating […]

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Lagos stock market: Trading volumes tripples

The Lagos stock market has climbed nearly a third in the past six weeks and trading volumes have more than doubled. Local bonds, some paying yields over 20 percent are also luring more foreign investors, local traders said The new window has re-opened the doors to the carry trade in naira – one of the […]

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Nigeria: Investors return for market rebound

Nigeria’s recent tentative steps to free up its naira currency, particularly via a new trading window, have gone down well with some adventurous stock and bond investors who are cautiously returning to the markets they fled two years ago. Once considered one of the most promising emerging markets, Nigeria was hammered when it introduced draconian […]

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CBN warns against poor handling of naira, encourages e-payment solutions

The Central Bank of Nigeria (CBN) has urged members of the public to desist from ill handling of the nation’s currency, the naira. The central bank stressed that the cost of maintaining the naira note was expensive, while also urging members of the informal sector to embrace the various e-payment options in the economy. This […]

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Nigeria: Expect $8bn from Foreign exchange

The Federal Government says it is targeting about $8 billion as annual foreign exchange from the exportation of yams to other countries if its yam export programme succeeds. The Minister of Agriculture and Rural Development, Audu Ogbeh, said this when he received the Technical Committee on Nigeria Yam Export Programme in Abuja on Thursday. Mr. […]

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CBN moves to combat Nigerian banking sector non-performing loans

The Central Bank of Nigeria (CBN) has unveiled to members of the public, a draft document for licencing of Private Asset Management Companies (PAMCs) that are expected to play complementary roles in the management of non-performing loans in the country. The CBN, in the exposure draft for the licencing and regulation of PAMCs in Nigeria, […]

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Nigeria: Equity funding for SMEs and agric sector

In just about six months after banks and the Central Bank of Nigeria (CBN) agreed that commercial banks to set aside a percentage of their profit- after- tax to finance small businesses and the agriculture sector, N26 billion has been pooled into the fund. This provides another funding option for small and medium-scale enterprises (SMEs) […]

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Diversification of the economy can’t be achieved without good transportation system, power supply -Adeosun

Mrs Kemi Adeosun, the Minister of Finance, said the Federal Government invested the sum of N200 billion on roads in 2016. According to the minister, the amount is part of N1.2 trillion earmarked for capital projects to ensure ease of doing business. She said that the N200 billion was against N90 million earmarked for road […]

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Nigeria: Bond investors embrace the more liberal pricing mechanism

medianet.info

  There are no wizards or muggles in the currency-forwards markets. Yet in Nigeria, a parallel universe is taking shape. The African country’s traditional currency-forwards market is facing competition from an upstart system based on the new exchange-rate window policy makers opened six weeks ago. Bond investors and speculators are switching away from non-deliverable forwards […]

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Getting Biz Funds: Easier in Nigeria now

medianet.info

  Funds hinders business growth. And in Nigeria, it is almost always part of the usual suspects young entrepreneurs list when asked what challenges they face growing their business. However, the country has recently witnessed both the private and public sectors increasingly enlist support for young Nigerian entrepreneurs with special funds and business mentorship programs. […]

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