OTHER BUSINESSES

Starting a business in Nigeria, like many other countries, usually comes with many road bumps. It is not just enough to have a brilliant idea that can be built into a mega business; more is required than just a good thought process. More often than not, entrepreneurs would always believe...

Stanbic IBTC Pension Managers has advised Nigerian workers to start planning for their retirement as soon as they are in active service. Planning for retirement, according to the PFA, should commence from the first day the individual starts working, noting that the individual will not encounter the usual apprehension associated...

The Federal Government has approved the purchase of three new 150MVA transformers at Shiroro, Ondo and Oshogbo sub-stations even as it has also approved the resuscitation of the National Council on Hydrocarbon The hydrocarbon council is an ombudsman council that meets once a year, in extraordinary times, to review policies...

The Federal Government on Wednesday accused the World Bank and the International Monetary Fund (IMF) for contributing to the problem of power shortage in the country by frustrating the country’s efforts at addressing the electricity supply deficit facing the country through the use of coal. Speaking during a panel discussion...

The Nigerian National Petroleum Corporation (NNPC) will soon begin the first large scale commercial bio-fuel venture as alternative to fossil fuel its Group Managing Director (GMD), Dr Maikanti Baru, has revealed. Baru made the disclosure on Wednesday in Abuja at a two-day Environment Dialogue, titled `Diversification of the Economy, the...

  United State’s industrial firm General Electric (GE.N) plans to invest around $150 million in Nigeria by 2017, a senior executive said on Monday. According to Reuters’ report monitored by Business247 News Online, "There are development projects where we are investing," Jay Ireland, Chief Executive of General Electric in Africa...

The Federal Government is now set to float bonds in the next couple of weeks to offset its huge pension arrears, Business 247 News Online has learnt. There are strong indication that the amount to be involved could be in the region of N100 billion, even as activities have reached...

The Professor of Ceramics Technology, Patrick Oaikhinan, has regretted that Nigeria imports about $600 million (about N252 billion) worth of ceramic products yearly. He said because Nigeria did not produce up to one per cent of the global market demand for ceramics, the nation would continue to lose out in...

  President, Manufacturers Association of Nigeria (MAN), Dr Frank Jacobs Udemba, has reacted to the recent statement of the Finance Minister, Mrs Kemi Adeosu that Nigeria would be out of economic recession before the end of the year, saying that to come out of the recession, manufacturing must be prioritised....

The Federal Government has been urged to maintain its position on the ban on rice importation in to the country through the land borders and encourage more rice farming and processing across the country. Former Minister of Commerce and Industry and one-time President of Manufactures Association of Nigeria (MAN), Engineer...