New CBN Policy: Over 40,000 Nigerians to Lose Job

There are strong indications that the new Central Bank of Nigeria (CBN) rule excluding some essential raw materials from the list of items valid for forex will in no time lead to the lay-off of over 40,000 Nigerians who work in the manufacturing sector, analysts say. According to the Central Bank of Nigeria (CBN), the policy is intended to sustain the stability of the foreign exchange market, “resuscitate local manufacturing”… Continue Reading

Hard Times Fall on Julius Berger, Other Construction Companies

Heavyweight firms like Julius Berger and other construction companies are not spared of the raging economic recession that has plagued Nigeria since the President Muhammadu Buhari government took over in 2015. Construction stocks are not feeling the impact of the federal government’s acclaimed expenditure on the infrastructure. Julius Berger and Roads Nigeria Plc, both listed in the Infrastructure Heavy Construction sector of the Nigerian Stock Exchange have their stocks currently… Continue Reading

MACRON EMBRACES AFRICAN ENTREPRENEURSHIP

TONY ELUMELU FOUNDATION (TEF) HOSTS VIBRANT SESSION WITH NEARLY 2,000 ENTREPRENEURS  French President Emmanuel Macron offered a bold and new vision of France’s relationship with Africa, speaking to Tony Elumelu Entrepreneurs in Lagos today. He passionately advocated a new partnership, prioritizing the role of entrepreneurship in driving Africa’s renaissance, highlighting the importance of the private sector and urging the creation of a business ecosystem that leverages Africa’s vibrant private sector… Continue Reading

Transcorp Committed to Significantly Increasing Power Generation in Nigeria.

……Chairman Elumelu states “Transcorp will light up Nigeria”. At the 11th Annual General Meeting of Transnational Corporation of Nigeria Plc(“Transcorp”), the Board ofDirectors confirmed their confidence in Transcorp’s growth trajectory and affirmed the Company’s commitment to increasing yield and returns to shareholders, while continuing its significant capital investment strategy. Despite the difficult economic climate, revenue grew by 46% in 2017(N59.42bn). Transcorp is Nigeria’s leading listed conglomerate, active in the power,… Continue Reading

TONY O. ELUMELU LEADS HIGH-LEVEL TEAM TO WORLD ECONOMIC FORUM IN DAVOS Team Includes Consortium of Heirs Holdings Group Executives

Philanthropist and serial entrepreneur Tony O. Elumelu, CON leads a delegation of senior executives from his proprietary investment firm, Heirs Holdings, to the World Economic Forum (WEF), which begins in Davos, Switzerland today. Elumelu will join global business and political leaders during the event, bringing a message of Africa’s continued economic renaissance and of the critical role that Africa’s private sector is playing in the continent’s transformation. Heirs Holdings executives… Continue Reading

FG PRESENTS N7.3 TRILLION BUDGET AS 2016 FAILS TO DELIVER CHANGE

Nigerians have angrily reacted to the news of the budget presentation by the country’s number one man. Unbelievable as it may sound, the figure to be spent on fixing the mess the country is presently in is a staggering 7.3 trillion Naira according to the President Mohammad Buhari just as the budget of 2016 has failed to bring the country out of the doldrums.President Mohammad Buhari whilst presenting the 2017… Continue Reading

REASON ELECTRICITY REGULATORY COMMISSION NOMINEE PROFESSOR AKINWANDE DECLINE THE OFFER

….how Presidency allegedly mounts pressure on him to rescind his decision. It’s no longer news that three months after he was nominated by President Buhari as the Chairman of Nigeria Electricity Regulatory Commission, Prof. Akintunde Akinwande is yet to confirm that he is ready to take up the appointment. However, the absence of the Massachusetts Institute of Technology (MIT) professor to appear before the senate committee on power for screening… Continue Reading

Elumelu: “We give to empower and break the cycle of dependency. Entrepreneurship is the only path to independence and sustainability.”

President Koroma of Sierra Leone, President Obasanjo of Nigeria, Governor Ikpeazu, Minister Lai Mohammed, Mrs Folorunsho Alakija, Join 1,000 African Entrepreneurs At 2016 Tony Elumelu Foundation Entrepreneurship Forum. • Foundation Announces Partnerships with African Development Bank, ECOWAS, Coca-Cola, Nigerian Ministry of Information. —- At the largest annual gathering of African entrepreneurs, held in Lagos, Nigeria, the Tony Elumelu Foundation (TEF) hosted almost 1,000 women and men from 54 African countries,… Continue Reading

Nigerians lambast Africa richest man…Says he’s greedy

As the economic hardship facing Nigeria rages on, Alhaji Aliko Dangote, the country and African richest business man, has incurred the wrath of Nigerians for making an unpopular advice to the Federal Government to sell off the Nigerian Liquified Natural Gas company, NLNG.    The multi-billionaire business mogul has been receiving torrents of backlash from Nigerians on social media after he stated in a recent interview with CNBC Africa that… Continue Reading

Much Ado about NiTel/MTel Sale to NatCom

On October 8, 2016, ntel, Nigeria’s fifth mobile network and, according to their website and social media platforms, Nigeria’s first pure play 4G/LTE advanced network will celebrate 6 months since the commencement of commercial operations on 08-04, 2016. In those 6 months, ntel has attained full network coverage in Abuja, across large swathes of Lagos and then parts of Ogun, Nassarawa and Niger states. It has launched full VoLTE services,… Continue Reading

ADEBOYE IN ANOTHER ALLEGED N6B IMPORT WAIVER MESS

Recently the public space was agog that the regime of former President Goodluck Jonathan granted waiver to some privileged Nigerians to the tune N215b. The waiver beneficiaries included operators and individuals in the gas sector, agriculture, health, mines and steel and “other sectors”. One of the privileged Nigerians that got this waiver which was said to have been granted during visits to the former president at nights by these well… Continue Reading

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