Cement dealers and block makers in the Federal Capital Territory on Wednesday lauded the Federal Government’s intervention to bring down the high cost of cement within 30 days. A cross section of cement dealers and block makers who spoke in separate interviews with the News Agency of Nigeria in Abuja said they were very happy with the development. Cynthia Ndubisi,…
The Kogi State Property and Investment Company Ltd (KOPIC) says it has secured a N1.7 billion loan to build 350 housing units in Lokoja, the state capital. Its Sole Administrator, Moses Okino, said on Wednesday in Lokoja that the loan was sourced from the Federal Mortgage Bank of Nigeria. Mr Okino said that vast land had already been acquired for…
Many people frown when it comes to calls for the holistic respect of the rights of nature. By respecting the rights of nature and understanding that we can do well to work with it and not against it, we will be on the road to achieving the systemic changes needed to halt humanity’s march to the cliff-edge. We shall be…
Some market operators have said that despite the current positive trend been witnessed at the Nigerian capital market, the nation's bourse is still underperforming. Bismarck Rewane, managing director of Financial Derivatives Company Limited, a business consultancy firm, said in spite of the upward trend in the market because of "impressive earnings announcements that spur investors, the lack of market depth…
The federal government has commenced inter-agency collation of data on the country's commodities export-import trend required for the development of agribusiness and agro-allied industries. The data which involve all commodities for the period between 2005 and 2010 for their respective distributive zones, are required by the Committee on Africa's Agribusiness and Agro-business Development Initiative (3ADI) to help realise its mandate.…
Former finance minister, Mansur Muhktar, has been appointed alternate executive director of the World Bank. He joins former finance minister, Ngozi Okonjo-Iweala and former minister of education, Obi Ezekwesili at the 67-year-old global financial institution. Muhktar's appointment, which is a full-time position in Washington, follows the recent creation of an additional seat for Africa region on the board of the…
The Nigerian naira strengthened against the U.S dollar on the interbank market on Monday, helped by increased dollar supply from the Central Bank at its bi-weekly auction, traders said. The naira firmed to 155.60 to the dollar from 155.85 on Friday after the Central Bank met all demands at Monday's bi-weekly auction. The Central Bank sold the $499.89 million demanded…
Kola Jamodu, the former Minister of Commerce and Industry says there is nothing wrong for Nigeria to borrow money to finance its infrastructure. Mr Jamodu made the declaration when he spoke with the News Agency of Nigeria (NAN) in Abuja on Monday. He was reacting to comments by the Debt Management Office (DMO) that the country needed to borrow money…
Some finance experts have urged the Federal Government to source for funds internally to reduce the nation's rising external debt stock. They told the News Agency of Nigeria (NAN) in Lagos on Monday that persistent good debt management strategies and prudential borrowing would bail the country out of the debt burden in no distant time. Mashudd Fashola, a Senior Lecturer…
Compared to the negative outcome witnessed during last week's opening trading figures, investors at the Nigerian Stock Exchange (NSE) yesterday recorded more gains on the value of their equities, as market opened trading on positive note. The NSE market capitalisation of the 194 First-Tier equities closed on Monday at N8.252 trillion from last Friday's figures of N8.248 trillion, reflecting 0.04…
The clamour for a safer and cheaper alternative fuel for cars and domestic appliances is attracting more consumers to compressed natural gas (CNG) as source of fuel for their vehicles. CNG is a fossil fuel comprising mostly of ethane, or natural gas under high pressure with nearly zero emissions and is one of the cleanest burning alternative fuels for vehicles…
South Africa's Vodacom beat expectations with both its full-year profit and dividend, helped by a surge in mobile data usage that showed its diversification beyond voice revenue is paying off. Vodacom, which operates mainly in South Africa, the Democratic Republic of Congo and Tanzania, is fighting to defend market share from competitors such as MTN Group and India's Bharti Airtel,…
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Customer loyalty is one major thing that brands need to thrive in the market place. When customers are loyal to a brand, they become ambassadors by mouthing good stories about the brand. It is a basic truth that when customers are happy, they go to a large extent to promote a good image for the brand. Customer loyalty is all…
While the naira continues its slide, the Central Bank of Nigeria (CBN) insists that it would prefer to commit foreign reserves to defend the naira in order to curb inflation. After Wednesday’s currency auction, the naira slid to N153.39 to the dollar, from N153.18 at the previous auction. The Central Bank sold $300 million at N153.39, having sold same at…