The International Monetary Fund (IMF) on Wednesday said Nigeria was slowly exiting recession but remains vulnerable because its growth is tied to oil prices with improved revenues restricted to the energy and agriculture sectors. The assessment, published in a report on Wednesday, came in its Article IV consultation, an annual appraisal of a country’s economy. […]
Latest Forbes Top 10 Billionaires List for 2018 showcases the likes of Amazon chief Jeff Bezos, Microsoft co-founder Bill Gates, famous investor Warren Buffet, Facebook founder, Mark Zukerberg among others. A record 2,208 billionaires made the Forbes’ 32 annual ranking of the world’s billionaires this year. Amazon chief Jeff Bezos tops the Forbes list of […]
By Foster Obi Coca-Cola is about to produce an alcoholic drink for the first time in the company’s 125-year history – with an alcopop-style product in Japan. Nigeria is expected to be the next port of call after this. WHY NIGERIA? Analysts believe there is a huge market for alcoholic beverage in Nigeria and Coca-Cola […]
US President Donald Trump’s top economic adviser Gary Cohn is resigning, the White House has said. It is the latest in a series of high-profile departures from President Trump’s team. There has been speculation that Mr Cohn, a supporter of free trade, was angered by Mr Trump’s plans to impose tariffs on aluminium and steel […]
Nigerian oil company Oando has dropped its lawsuit against the domestic Securities and Exchange Commission (SEC), paving the way for a forensic audit of the firm, the regulator said in a statement on Tuesday. Oando had filed a lawsuit against the SEC to halt the regulator’s suspension of the company’s shares and the planned audit, […]
Nigeria’s central bank said on Tuesday it had injected $210 million into the interbank foreign exchange market, extending efforts to boost liquidity and alleviate dollar shortages. The bank said in a statement it had released $100 million earmarked for the wholesale market, $55 million for small businesses and individuals, and $55 million for certain dollar […]
By Foster Obi Africa’s richest business magnate, Alhaji Aliko Dangote, has said that doing business in any other part of the country is hell describing Lagos as the most convenient and peaceful state for doing business. Dangote made this remark at the forum “Lagos Means Business,” organized by the Lagos state government. “I am not […]
By Foster Obi Hope of sustained availability of petrol at filling stations may have been rekindled with the arrival of eleven vessels at the Lagos ports carrying various products, including petrol. From the Nigerian Ports Authority daily ‘Shipping Position’ the ships are waiting to berth at the various ports. From the daily report, nine of […]
Chief executive of Japan’s Kobe Steel has resigned after a data falsification scandal. Hiroya Kawasaki said he would step down, as the firm released a long-awaited report into the alleged fraud. It confirmed that staff had changed or made up data on the quality of some of its products before they were shipped. According to […]
By Foster Obi Nigeria’s effort at developing a value-driven Nigeria movie industry moved a notch yesterday with the launch of ‘Nollytaiment,’ a blockchain technology designed to power a new movie entertainment ecosystem. The technology is financed through the Nollycoin , which is the official coin to access and purchase products in the Nollytainment ecosystem. At […]