Logo Year 1 | Edition 4 | 15 October 2015
Nigeria Produced 445million Barrels of Crude Oil in Seven Months
 

Nigeria produced 445 million barrels of crude oil and condensates from January to July 2015, a monthly report of the activities of the Nigerian National Petroleum Corporation (NNPC) has shown.

The report, which was released by the NNPC in Abuja, also showed that within the same period, a total of 1,677 billion cubic feet...

[ Read More ]
Nigeria, Turkey Trade Volume Hits $2.5bn
 

Turkish Ambassador to Nigeria, Hakan Cakil, has said trade volume between both countries has now reached $2.5 billion.

The Turkish envoy stated this at a forum organised by the Abuja Chamber of Commerce and Industry (ABUCCIMA) for the visiting Turkish business delegation to Nigeria...

[ Read More ]
Fidelity to Launch Online Marketplace for SMEs
 

Fidelity Bank Plc said it plans to launch the GreenMall, an online market place with fully integrated e-commerce capabilities for online payment engine, delivery logistics, advertising boards, and business networking opportunities, for SMEs.

This was disclosed by the Executive Director, South, Fidelity Bank, Aku Odinkemelu at the bank’s South-East Regional SME conference recently...

[ Read More ]

[Interview] Sheriff Aligbeh, Founder, Clever Culture Communication, Amsterdam
 

By Andrea Ayemoba. Sheriff Aligbeh is a Nigerian/Dutch, who has dedicated himself to bridging the cultural gaps that stand in the way of doing business across Sub-Saharan Africa and the West.

His interview with Nigeria Business Communities:

Would you please introduce Clever Culture Communication?

Clever Culture Communication creates and delivers tailor-made cross-cultural (business) training and consulting to corporate and public sector organizations operating in the Sub-Saharan African region. Our training and consulting programs are designed to help our clients acquire a better understanding of the various Sub-Saharan African cultures and provide them with the necessary skills and flexibility they need to ensure success in that region...

[ Read More ]

GT Bank, AFD Launch N3bn Initiative For SMEs
 

Guarantee Trust Bank Plc has launched a N3 billion scheme in partnership with Agence Française de Development (AFD) to promote Small and Medium Enterprises (SMEs) development in the country.

The statement said that the initiative was designed to boost financing for business start-ups and development projects in Nigeria.

[ Read More ]
Heineken Nigeria Set to Raise N100billion to Boost Liquidity
 

Giant Brewer, Heineken Nigeria, an arm of Nigerian Breweries has disclosed to sell N100 billion in debt to boost liquidity as lower crude prices impact spending.

The company’s Finance Director, Mark Rutten, said the debt sale, expected by October 8, will enable the company to diversify its funding and attract non-bank investors...

[ Read More ]
[Interview] Bukky Olaleye, Founder, ReAfrica, UK
 

By Andrea Ayemoba. Bukky Olaleye is founder of platform Reafrica.com, as well as leadership coaching company, Julianmiles. Her interview with Nigeria Business Communities:

Would you please introduce ReAfrica?

ReAfrica is a platform that showcases the personal and professional achievements of people of African descent across the globe. We celebrate the vibrant culture, advancements in business, innovation and technology. We do this through our website, bi monthly magazine and social media channels...

[ Read More ]
Mobile Telecoms Industry Adds $100billion to Sub-Saharan Africa Economy
 

According to a new study by Global System for Mobile Communications Association, GSMA, the mobile telecommunications industry in Sub-Saharan Africa has contributed $102 billion to the region’s economy in 2014.

The figure is an equivalent to 5.7 per cent of the region’s gross domestic product, GDP.

[ Read More ]
MAN Diesel & Turbo opens new office in Nigeria
 

MAN Diesel & Turbo has opened a new sales office in Nigeria. The company’s new representation is located in the country’s main business location, Lagos. “We have been doing business in Nigeria for a long time.

Now we are resident in one of Africa’s most economically powerful cities,” says Dr. Uwe Lauber, CEO of MAN Diesel & Turbo. “By deepening our local footprint we hope to further grow...

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MAN Diesel & Turbo opens new office in Nigeria
 

MAN Diesel & Turbo has opened a new sales office in Nigeria. The company’s new representation is located in the country’s main business location, Lagos. “We have been doing business in Nigeria for a long time.

Now we are resident in one of Africa’s most economically powerful cities,” says Dr. Uwe Lauber, CEO of MAN Diesel & Turbo. “By deepening our local footprint we hope to further grow...

[ Read More ]

Dangote Cement Inagurates $600million Plant in Tanzania
 

Africa’s giant material manufacturer, Dangote Cement Plc has commissioned its new three million metric tonnes per annum cement plant located in the Mtwara District of Tanzania.

The new plant, which is part of the company’s Africa expansion strategy, is the fourth plant to be commissioned after Ethiopia, Zambia and the Cameroun plants.

[ Read More ]
[Column] What lies ahead for the Nigerian Graduate? (Pt 1)
 

By Stallone-Obaraemi Samuel. Between the ages 4-6, Olumide has already been enrolled in a primary school. Ages 10 and 12 will see him probably out of primary and in a secondary school. Between 16 and 18, he is out of secondary school and most likely in the university.

Between 22 and probably 25, he is out of the higher institution depending on his programme of study, and is set for the National Youth Service Scheme.

[ Read More ]

Weststar introduces Mercedes Maybach S-Class into Nigeria
 

Weststar Associates Limited, the authorised general distributor of Mercedes-Benz in Nigeria is set to add the Mercedes-Benz Maybach S-Class to the portfolio of S-Class Saloons in the country.

While there is no doubt that the Maybach traditionally stands as a proud example of high-end automotive...

[ Read More ]

CBN Insists Oct 31 Remains Deadline for Obtaining Bank Verification Numbers
 

The Central Bank of Nigeria has said October 31 remains the deadline for bank customers to obtain their Bank Verification Numbers. The Director, Banking and Payment System Department of CBN, Dipo Fatokun, re-affirmed this while speaking to journalists on Wednesday in Abuja.

Mr. Fatokun said at the deadline, bank customers that had not enrolled for BVN would not be able to access their accounts. "Last week Friday the bankers communicated that there is no extension on the BVN.

[ Read More ]
London, SEC to strengthen Islamic finance in Nigeria
 

The Securities and Exchange Commission and the City of London on Tuesday pledged to work together to deepen Islamic finance in Nigeria in order to bring financial inclusion to Nigerian Muslims and non-Muslims averse to traditional financial system and products.

The Lord Mayor of London, Mr. Alderman Yarrow, and the Director-General of Securities and Exchange Commission, Mr. Mounir Gwarzo, made...

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[Column] Staff Come in Different Shades
 

By Chioma Nnani. So, in one of my previous articles, I talked about how I found it really bewildering that a number of Nigerian business-owners tend to treat their staff horribly. And I got a fair bit of feedback – especially on Facebook.

A lot of business-owners bewailed the fact that their businesses were plagued with incompetent, lazy, money-grabbing staff...

[ Read More ]
Jumia to partner with MTN for free internet in Nigeria
 

In order to reduce data costs and boost e-commerce in Nigeria, Jumia, leading online shopping destination in Africa, launched its free internet service with MTN, Africa's leading cellular telecommunications company.

The move means it won’t charge users of its mobile network for the data they consume while using the Jumia app.

[ Read More ]

Nigerian FG Plans to Ban Rice Importation in 2017
 

The federal government has unveiled plans to impose a ban on the importation of rice into the country by 2017.

Zamfara State Governor and Chairman of the Nigeria Governors’ Forum (NGF), Abdulazeez Yari, on Wednesday, October 14, disclosed that Nigeria will ban importation of rice in the next two years...

[ Read More ]
[Interview] Vikas Pota, Founder of Varkey Foundation
 

By Afia Owusu Nyantakyi. Vikas Pota is the Chief Executive of Varkey Foundation,a Young Global Leader who is passionate about Education. The Varkey Foundation believes in the power of education to make positive and developmental change, globally. During his visit to Ghana, Africa Business Communities, caught up with Vickas for a chat.

For those who may not know Vikas Pota, how would he describe himself?

I am interested in the big picture...

[ Read More ]
[World Bank] Africa Faces the Challenge of Sustaining Growth amid Weak Global Conditions
 

Sub-Saharan Africa countries are continuing to grow, albeit at a slower pace, due to a more challenging economic environment.

Growth will slow in 2015 to 3.7 percent from 4.6 percent in 2014, reaching the lowest growth rate since 2009, according to new World Bank projections.

[ Read More ]

Zenith Capital confirms Enakele’s appointment as Managing Director
 

The board of Zenith Capital Ltd., has confirmed the appointment of Mr Jubril Enakele as its Chief Executive Officer and Managing Director, five months after he was appointed.

The organisation said, in a statement on Monday in Lagos, that Enakele, who was appointed in May, this year, would focus on investment banking...

[ Read More ]
[Column] LNG in Africa - LNG is not a rich man’s fuel
 

By Rudolf Huber. I have been writing about LNG in Africa for years now. Remember? Sub-Saharan Africa is going to be one of the most exciting plays in the LNG world for the next two decades. But it’s not going to be a walk in a Japanese garden – more like walking on burning charcoals barefoot.

Africans are slowly (very slowly) waking up to the fact that it might be better and more profitable to keep their home-produced LNG...

[ Read More ]

Access Bank Nigeria to modernise ATM, internet and mobile banking channels with CR2's BankWorld
 

Access Bank and CR2 have announced that the bank has selected CR2's BankWorld omnichannel suite to manage their self-service channels including ATM, Internet, and Mobile. This strategic alliance was celebrated at Access Bank'sLondon headquarters.

With CR2, Access Bank will be empowered to reduce their operational costs by managing all channels from a single point while also having the opportunity...

[ Read More ]
Nigerian Banks Post N400billon Half-year Pre-tax Profit despite Economic Headwinds
 

Nigerian banks and holding company (Holdco) financial institutions listed on raked-in a total of N403billion as pre-tax profit in the first-half (H1) of 2015.

This represents about 17 per cent or N58.5billion rise when compared to a total of N344.46billion pre-tax profit recorded in half-year 2014 by the listed banks and their Holdcos.

[ Read More ]
[Column] Finding the Perfect Home in Lagos, Nigeria

By Kayode Jesuseun. Lagos is Nigeria’s commercial hub due to its cosmopolitan nature and ever-increasing population estimated at over 21 million according to New York Times.

It is also the most expensive rental property market in the country and the second most expensive real estate market in Africa (second to Luanda, Angola) currently valued at 40% of the Nigeria real estate market valued approximately at N6.4 trillion...

[ Read More ]

NNPC, MOMAN, DAPPMA Rally to Consolidate Uninterrupted Fuel Supply
  A major step towards ensuring zero fuel queues throughout the country ahead of the forthcoming yuletide and beyond kicked off on Monday with a meeting between the Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Dr. Ibe Kachikwu and members of the Major Oil Marketers Association of Nigeria, MOMAN alongside the Depot and Petroleum Products Association, DAPPMA, at the NNPC Towers, Abuja.

[ Read More ]
AfDB President Akinwumi Adesina appointed Chair of Africa50 Boards of Directors
 

The Boards of Directors of Africa50 Project Development and Project Finance met on October 6, 2015 in Abidjan, Côte d’Ivoire.

The Boards approved the appointment of Akinwumi A. Adesina, President of the African Development Bank, as the new Chairperson of both Boards...

[ Read More ]

IMF Urges CBN to Review Forex Policy
 

As the foreign exchange market records further widening of the parallel market margin, the Director, African Department of International Monetary Fund, IMF, Ms Antoinette Sayer, has said that measures put in place by the Central Bank of Nigeria, CBN, to restrict access to foreign exchange, forex, needed to be reviewed.

While CBN forex trading window had exchange rate stabled at N197/US $1 last week, pressure however continued to mount at the parallel market, as the Naira depreciated from...

[ Read More ]
We need You to help us to improve Nigerian Business Data!
  As we all know the lack of reliable data on African economies is one of the major constraints for the economic growth and foreign direct investment on the continent.

In order to improve African Business Data we have launched the Africa Business Panel.

Over 15,000 people have joined the Africa Business Panel, making it the largest Online Pan-African B2B Market Research Panel...

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Advertising in this newsletter makes you reach over 15,000 Nigerian top business professionals like yourself.

Publishing your content in our Nigeria LinkedIn groups will give you access to 100,000+ Nigerian top business professionals like yourself.

If you think this might be interesting to your company, just drop me a line...

Bas Vlugt
Founder Africa CEO Network
bas@africabusinesscommunities.com

Do you want to advertise in this newsletter?
 

Advertising in this newsletter makes you reach over 15,000 Nigerian top business professionals like yourself.

Publishing your content in our Nigeria LinkedIn groups will give you access to 100,000+ Nigerian top business professionals like yourself.

If you think this might be interesting to your company, just drop me a line...

Bas Vlugt
Founder Africa CEO Network
bas@africabusinesscommunities.com

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Colofon

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