Category Archives: Business

‘ITF equips 450,000 Nigerians on skills acquisition in three years’

About 450,000 Nigerians have been trained under the various vocational training programmes of the Industrial Training Fund (ITF), in the last three years.

ITF was established to regulate training standards, offer direct training intervention in industrial and commercial skills training and development using a corps of highly competent professional staff, modern techniques and technology.

Porsche Invests in Israeli Startup TriEye to Increase Road Visibility and Safety

Israeli startup TriEye, whose Short-Wave-Infra-Red (SWIR) sensing technology enables vision in adverse weather and night-time conditions, has expanded its Series A round to $19 million with an investment from the German sports car manufacturer Porsche. The additional funding will be used for ongoing product development and operations, as well as team growth.

MAN withdraws from W/Africa expo

The Manufacturers Association of Nigeria (MAN) on Monday withdrew its participation in the 2020 Annual Nigeria Manufacturing Expo/Manufacturing Partnership for African Development (NME/mPAD) events organised by Clarion Events West Africa.

The group said its decision was based on the decision of its partner, Clarion Events West Africa, to withdrew its business interest from Nigeria, and sack of its workers in Lagos.

Dangote Cement overtakes MTN as NSE’s biggest firm

Dangote Cement Plc has regained its position as the biggest listed firm on the Nigerian Stock Exchange as sell-offs were witnessed in MTN Nigeria Communication Plc’s shares on Tuesday.

On Monday, MTN Nigeria overthrew Dangote Cement, becoming the most capitalised company on the NSE just three months after its listing, as its share price increased to N138.70 from N135 on Friday.

Crude Oil inches above $60 as U.S. delays tariffs on Chinese goods

Crude Oil prices continued to rally yesterday, following reports that the United States has decided to delay the next round of tariffs that were to be imposed on Chinese goods.

The delay gives hope to a skittish market that the trade war really won’t go on forever.For WTI, oil prices had climbed 4.13% to trade at $57.20 as at the time of filing this report. Brent Crude was trading up even more at 4.68%, at $61.31—resuming its over $60 per barrel that it had fallen under during the first week of August as the trade war stoked fears of souring oil demand growth.

CAC extends deadline for discounted business names’ registration fee

The Corporate Affairs Commission (CAC) has extended the 50 per cent reduction in the registration fee for business names by 3 days beginning from 13th August to Friday, 16th August, 2019.

The three-day extension is to enable the Micro, Small and Medium Enterprises (MSMEs) that failed to register their businesses as a result of the Sallah holidays to take the advantage to do so with immediate effect.

Solidaridad partners Kogi on palm oil production

Kogi State Government of Nigeria is partnering with Solidaridad, a global non-governmental organisation (NGO) to improve oil palm production and the livelihood of smallholder oil palm farmers in the state.

The project is aimed at building farmer’s capacity to implement best management practices, intensification and rehabilitation efforts.

‘Quality Feeds Crucial To Productive Poultry Business’

NigeriaThe MANAGING director, FACCO West Africa Limited, Mr Bolaji Adelayo, has posited that the success of poultry business solely lies on the quality of feeds given to livestock.

Adelayo stated this while speaking with the Nigerian Tribune at his office in Lagos.

He noted that the success and failure of poultry business are determined by the quality of feeds used by poultry operators

Nigerian traders seek National Assembly’s ratification of AfCFTA agreement

The National Association of Nigerian Traders (NANTS) has advised the National Assembly to urgently ratify the African Continental Free Trade Area (AfCFTA) agreement to ensure its speedy implementation.

Ken Ukaoha, the NANTS president, in an interview with the News Agency of Nigeria (NAN) in Abuja said that its ratification would enable Nigeria to quickly join the nations that would benefit from the agreement.

Palm oil imports gulp N504bn in five years

Importation of palm oil into the country gulped $1.4bn (about N504bn) in the past five years, investigation has shown.

Global import data from the United States Department of Agriculture indicate that Nigeria imported a total of 2.04 million tonnes of palm oil between 2014 and the first few months of 2019.