business
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In a bid to mitigate the economic strain imposed by the removal of fuel subsidies, the Federal Government has announced the imminent commencement of financial assistance under its Presidential Palliative Programme. This initiative aims to provide much-needed relief to vulnerable households and businesses across the country. A statement issued by the Minister for Industry, Trade […]
In a landmark ruling, the Supreme Court of Nigeria has declared that both the old and new naira notes will continue to be legal tender until further notice. This decision effectively reverses the Central Bank of Nigeria’s (CBN) directive to phase out old naira notes by December 31, 2023. The court’s decision was based on […]
Mergers and acquisitions loom as Nigeria’s Deposit Money Banks brace for another round of recapitalization in line with the country’s $1 trillion economy target. Last week, the Central Bank of Nigeria Governor, Olayemi Cardoso, in his speech at the 50th-anniversary dinner of the Chartered Institute of Bankers of Nigeria, CIBN, in Lagos, announced plans to recapitalize […]
Dele Alake, minister of solid minerals development, has rolled out strategies to ensure maximum security at mining sites across Nigeria. Alake highlighted insecurity as a major challenge hampering the development of the sector. He said plans were ongoing in partnership with the National Security Advisor and the Ministry of Defence to further the process of […]
In a significant move to address the challenge of poor information dissemination hindering small businesses’ access to government funding, the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has partnered with Sterling Bank. This strategic collaboration aims to bridge the information gap and ensure that eligible SMEs are informed about and able to access […]
In a significant step towards fostering innovation and entrepreneurship, the Federal Government has launched the Startup Support and Engagement Portal. This portal, a cornerstone of the Nigeria Startup Act implementation, aims to streamline the identification and aggregation of startups across the country. The Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, announced the […]
A new report has highlighted a widening gap between Nigeria’s rice consumption and domestic production, leading to a supply shortfall of approximately two million metric tonnes annually. This imbalance has driven up rice prices by over 37% in 2023 alone, according to the AFEX 2023 wet season crop production report. Despite its potential to become […]
Employment provides a means to meet financial needs and achieve a level of financial independence. However, it also unveils a myriad of challenges and life lessons that shape our perspectives and understanding of the world. 1. Money Makes Money: While employment offers a steady source of income, the reality is that earning money requires money. […]
The world of entrepreneurship beckons with its promises of excitement, rewards, and personal fulfillment. However, it’s crucial to recognize that this path also presents its share of challenges and risks. To navigate this terrain effectively, a well-structured approach is essential. Self-Assessment: Laying the Foundation Before diving headfirst into the business world, take a step back […]
The World Bank has initiated the disbursement of the $800 million loan approved for the National Social Safety Net Program-Scale Up. Under this program, the World Bank has already released approximately $299.99 million to Nigeria, as per the approval granted on December 16, 2021. This information was confirmed by documents obtained from the World Bank, […]
