Thriving private sector, enabling environment, key to healthy economy – Osinbajo
Businessam Staff
March 13, 2018
By Ajose Sehindemi and Temitayo Ayetoto Yemi Osinbajo, Nigeria’s vice president, has said without a thriving private sector and an enabling environment devoid of bottlenecks, the economy could find it difficult to achieve its full potential. He disclosed that the government’s spending relative to the size of the Gross Domestic Product (GDP) is a paltry […]
Gains in Dangote Cement push NSEASI up 0.04% as Nigerian stocks trade flat
Businessam StaffMarch 13, 2018
Nigerian equities recorded marginal gains Tuesday as market performance could barely lift benchmark index, the NSEASI, up 0.04 percent to close 43,073.42 points higher. The day’s performance was largely driven by price appreciation in DANGCEM (+1.3%), which offset losses in ZENITH (-1.8%), UNILEVER (-4.9%) and DANGSUGAR (-4.5%). In other words, without DANGCEM the NSEASI would […]
AfDB projects 3.8% growth for West Africa in 2018 on household consumption, commodity price recovery
Businessam StaffMarch 13, 2018
Economic growth in West Africa is projected to rise to 3.8 percent in 2018 and 3.9 percent in 2019 on the back of strong household consumption and price recovery, according to the African Development Bank Group (AfDB) in its latest African Economic Outlook released Tuesday. The Outlook with five regional reports indicates that there was […]
Regulatory framework needed to meet evolving challenge of crypto-assets – Lagarde
Goddey OdinMarch 13, 2018
Christine Lagarde, International Monetary Fund Managing Director, has called on governments and central banks around the world to harness the potential of cryptocurrencies to help bring them under control, warning that failure to do so would allow the unfettered development of a “potentially major new vehicle for money laundering and the financing of terrorism”. In […]
Nigeria’s state oil firm to start refinery overhaul projects in Q2 this year
Businessam StaffMarch 13, 2018
Nigerian National Petroleum Corporation (NNPC) is in the final stages of talks with consortiums including top traders, energy majors, and oil services companies to revamp its long-neglected oil refineries in an effort to reduce its reliance on imported fuel as the country’s refinery overhaul projects will begin in the second quarter 2018. Anibor Kragha, NNPC’s chief operating […]
Artificial Intelligence, bigger threat to civilization than nuclear weapons- Elon Musk
Businessam StaffMarch 13, 2018
Elon Musk, the chief executive officer (CEO), Tesla and SpaceX, has said the development of intelligent machines that far surpass human intelligence poses a greater threat to civilization than nuclear weapons. The business magnate, investor, and engineer told an audience at the South by South West festival in Austin, Texas, that efforts to advance artificial intelligence […]
UBA, Union Bank, Unilever drag Nigeria equities index down 0.26%
Businessam StaffMarch 12, 2018
Massive drop in the value of shares of United Bank for Africa (UBA), Union Bank of Nigeria (UBN) and Unilever Nigeria Monday dragged Nigeria equities index down 0.26 percent to 43,056.51 points. Markets year-to-date return moderated to 12.6% as market capitalisation lost N105.0 billion in value to settle at N15.4 trillion. The day’s bearish performance […]
‘Off-grid renewable energy not so much to displace oil and gas, but cabling of power’
Steve OmanufemeMarch 12, 2018
Miriam Tuerk is co-founder & CEO, Clear Blue Technologies Inc., a Canadian-based company that develops solar and wind hybrid controller and cloud software for outdoor lighting, security, telecom, and environmental companies. Its solar and wind hybrid controller solution integrates into various products, such as off-grid streetlights and other outdoor lighting, security systems. She was in […]
Nigeria’s external reserves growth steady, hit $46 billion
Businessam StaffMarch 12, 2018
Nigeria’s central bank, CBN, said the country’s external reserves is steadily growing and currently stands at 46 billion dollars. Isaac Okoroafor, the CBN Spokesman, said in a statement Sunday that the reserves grew by about 3.2 billion dollars between February and March 2018, according to News Agency, NAN. He said that the reserves at the […]
Lagos Chamber calls for suspension to sort out grey areas in state’s Land Use Charge
Ajose SehindemiMarch 9, 2018
Babatunde Ruwase, the president of Lagos Chamber of Commerce and Industry (LCCI), has called for the suspension of the implementation of the Lagos Land Use Charge (LUC) law, as he wants the grey areas sorted out in the interest of fairness, equity and natural justice. Ruwase said Friday at the chamber’s stakeholders’ forum on the […]