Business News

LBN News Digest: Online Firm to Promote Nigerian Businesses in the USA, Non-Oil Sector Drives Nigeria’s Growth

Online firm to promote Nigerian businesses in US
The Nation
By Our Reporter 7 hours 22 minutes ago A United States-based Nigerian-owned online firm, Africa Infomedia, is using its platform to promote Nigerian hospitability businesses in the US market. The President, Net Video Media, the parent company of Africa 

Sub-Sahara Africa Stocks: Kenya Airways, Nestle Nigeria Move
BusinessWeek
The company said March 12 it plans to raise $3.6 billion, partly through a rights offer and loans, to fund its 10-year expansion plan. Nestle Nigeria Plc (NESTLE) , the West African nation’s largest food company by market value, dropped by the daily 

Nigeria: Trade and industrial strategies for quantum leap (II)
BusinessDay
The Import Substitution (IS) strategy led to the Pioneer Ordinance plan of 1958, with incentives such as a 5-year tax holiday to companies that came to invest in Malaysia. Other legislations such as Investment Incentives Act of 1968, Free Trade Zone 

Nigeria: Insurance Industry to Get New Regulatory Regime By 2013
AllAfrica.com
Daniel who made the assertion at the Lagos Business School, LBS, Pan African University breakfast club meeting in Lagos last week noted that the draft revised Consolidated Insurance Bill is ready for passage to the Legislature by the Executive.

Non-oil sector drives Nigeria’s growth
The Nation Newspaper
Besides, Kale said sabotage leaks resulted in Shell Development Company of Nigeria declaring a force majeure on its Forcados export programme for the last quarter of last year. Typically, force majeure clauses cover natural disasters or other “Acts of 

Nigerians must collectively determine to move the country forward – Dr. Obinna 
Vanguard
But it has since emerged that the building of the church is one of several philanthropic gestures credited to this accomplished business man and politician. Indeed Dr. Uzoh is said to have contributed a lot to improving the lives of the people of his 

London Olympics Committee honours Nigerians in UK
Nigerian Tribune
NUKOC will organise a series of business, networking and entertainment events for the UK Nigeriancommunity, and friends of Nigeria. The NUKOC project is led by CANUK’s Vice Chairman, Mr. Chima Olugh in collaboration with CANUK Project team and is made 

Nigeria’s Naira Weakens Most in Two Months on Fuel Import Demand
BusinessWeek
By Emele Onu on March 12, 2012 Nigeria’s naira weakened the most in two months against the dollar on higher demand for the US currency as the state oil company and independent dealers made gasoline import orders. The currency of Africa’s largest oil 

Guinness Nigeria Climbs to 10-Week High on Valuation Bets
BusinessWeek
Nigerian Breweries, the country’s biggest beer-maker by market value, last year acquired Sona Systems Associates Business Management Ltd. and Life Breweries Co., to expand its capacity and extend its brands. Guinness (GN) Nigeria, a unit of distiller 

Rwanda woos Nigerian investors
Vanguard
Kagame, who was speaking in Rwanda, when the NESG led a 15-man delegation on a five day business trip to the East–African country, said Nigerian business men should exploit the significant opportunities which exist for intra-African trade and commerce 

World Economic Forum to Provide Financing Avenue for Companies – NSE
AllAfrica.com
The outcome will be a strong Nigerian agenda at the forum,” he said. Head of Middle East and Africa Memberships, WEF, Mr. Grant McKibbin, noted that the event provided the international body the opportunity to meet its members and other business 

Islamic Development Bank holds a business forum with Nigeria
Azerbaijan Business Center
The Islamic Development Bank (IDB), the Ministry of Finance of Nigeria and the Nigerian National Investment Support Commission (NIPC) are conducting the IDB Group-Nigeria Business Forum in Abuja on 15-16 March. According to the Bank, the business forum 

Nigerian banks begin sale of assets in US, Europe, Africa
BusinessDay
Some Nigerian banks have started disposing their off-shore subsidiaries, particularly in Europe, the United States, and some African countries, a development which operators say is informed by the need to cut off unprofitable appendages, leaving leaner 

Netherlands Targets N3.3trn FDI Inflow into Nigeria
THISDAY Live
Smits disclosed this at the weekend, during a meeting with Nigeria’s Minister of Trade and Investment, Mr. Olusegun Aganga, in Abuja. He said: “Many of our businesseshave been active and committed in Nigeria for over 50 years.


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