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IFC to support private sector with $1bn Naira-denominated bonds... NAIJA INVEST

IFC to support private sector with $1bn Naira-denominated bonds

Aug 11, 2013

Still basking in the success of its debut Naija Bond, the International Finance Corporation (IFC) is to float a series of $1 billion Naira-denominated bonds to deepen Nigeria’s capital market and support private sector development in the country. According to its Vice President and Treasurer, Mr Jingdong Hua, who disclosed this Wednesday in Lagos at the Debt Markets Conference organized by Securities and Exchange Commission (SEC) and IFC in partnership with National Pension Commission (PenCom), the objective of the programme is to help the private sector grow at micro level: “One entrepreneur at a time.” He explained that the organization…

UN partners Nigeria, seven others on reproductive health.... NAIJA INVEST

UN partners Nigeria, seven others on reproductive health

Aug 6, 2013

The United Nations Population Fund (UNFPA) said it would support programmes in eight African countries over the next three years to boost access to reproductive health services for millions of adolescent girls. According to UNFPA Executive Director, Dr. Babatunde Osotimehin, the countries include Nigeria, the Democratic Republic of the Congo (DRC), Ethiopia, Mozambique, Niger, Sierra Leone, South Sudan and Tanzania. “We are working specifically to ensure that the continent’s adolescent girls, between the ages of 15 and 19, who lives in sub-Saharan Africa get a good education, are able to decide whether and when to marry and have children, are…

First Bank signs $100m SME facility agreement with China Bank... NAIJA INVEST

First Bank signs $100m SME facility agreement with China Bank

Aug 6, 2013

In its bid to boost lending to small and medium scale enterprises in Nigeria, and also stimulate economic growth in the country, Nigeria’s Best Banking Brand, First Bank of Nigeria Limited today signed a $100m facility agreement with China Development Bank (CDB), a leading bank in the Peoples’ Republic of China. This is coming on the heels of the FirstBank’s extension of a single digit credit facility to Nigerian entrepreneurs in partnership with the Nigeria Association of Small Scale Industrialists (NASSI). The signing of the landmark agreement, witnessed by President Goodluck Jonathan, who is on a State visit to China;…

Effective positioning of agric sector as alternative to oil... NAIJA INVEST

Effective positioning of agric sector as alternative to oil

Aug 5, 2013

There is currently a revolution in the agricultural sector of the economy. The bankers committee, multi-lateral agencies and the agric ministry are demonstrating a renewed commitment to transforming the sector. It is beginning to dawn on stakeholders, particularly the federal government, that there must be a gradual shift from over-reliance on oil to the agric sector as the current dynamics surrounding oil in the international arena call for a rethink. For many years, crude oil has stood as major export earner for the country even though it hasn’t been effective in creating employment opportunities for the huge population of over…

How basket weaving yields profit... NAIJA INVEST

How basket weaving yields profit

Aug 5, 2013

Weave and Co. is an indigenous company mainly into basket works, furniture making, wood work, sculptural and metal works, sourcing everything locally. The basket work was started four years ago while the sculptural and metal works started about 16 years ago. Founder Ora Akpague, the founder, studied English Language at the University of Jos. She says, “I have always been very good with my hands. I dabbled into tailoring at a time, but when I came in contact with some furniture makers, we decided to work together. I was producing in a factory in Cotonou, Benin Republic, because of poor…

Establishment of a modern bakery... NAIJA INVEST

Establishment of a modern bakery

Aug 2, 2013

The importance of food to the existence of human race cannot be overemphasised. Food must be available in the right quantity, right quality and at the right time for human beings to have meaningful existence. It is against this background that all efforts must be made to promote food and allied productions. Bread is a major product of bakery and about the most demanded all over the world. The implication of this is that demand for bread is automatic. Consumption of bread cuts across all ages, gender and races. Bread is taken virtually every minute. It can be taken as…

Nigeria's Foreign Direct Investment Now $8.9bn... NAIJA INTEL

Nigeria’s Foreign Direct Investment Now $8.9bn

Aug 2, 2013

The Minister of Foreign Affairs, Ambassador Olugbenga Ashiru,  Thursday told the members of the National Working Committee (NWC) of the Peoples Democratic Party (PDP) that the foreign direct investment (FDI) into Nigeria rose significantly to $8.9 billion at the end of 2012. The amount, he said was far higher than the $6.1 billion realised by the country in 2010. He also said at the end of 2012, Nigerians in the Diaspora contributed over $15 billion to the economy. Also, the minister of foreign affairs told the PDP NWC members that there were over 9,500 Nigerians in foreign prisons. Giving accounts…

BOI pledges support to Nigerians in Diaspora... NAIJA INVEST

BOI pledges support to Nigerians in Diaspora

Aug 1, 2013

The Bank of Industry (BoI) will support Nigerians in the Diaspora to invest in the manufacturing sector. Its Principal Manager, Strategic Planning, Mrs Betty Obaseki, has said. Speaking at a capacity building workshop for Micro, Small and Medium Enterprises (MSMEs) in Abuja, she said the bank was considering setting up a special desk in Lagos and Abuja to attend to the needs of such Nigerians. The workshop was organised by the Ministry of Industry, Trade and Investment as part of activities to mark the 2013 Diaspora week. “We are considering setting up a special desk in collaboration with the ministry…

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How basket weaving yields profit... NAIJA INVEST

How basket weaving yields profit

Weave and Co. is an indigenous company mainly into basket works, furniture making, wood work, sculptural and metal works, sourcing everything locally. The basket work was started four years ago while the sculptural and metal works started about 16 years ago. Founder Ora Akpague, the founder, studied English Language at the University of Jos. She says, “I have always been very good with my hands. I dabbled into tailoring at a time, but when I came in contact with some furniture makers, we decided to work together. I was producing in a factory in Cotonou, Benin Republic, because of poor…

Establishment of a modern bakery... NAIJA INVEST

Establishment of a modern bakery

The importance of food to the existence of human race cannot be overemphasised. Food must be available in the right quantity, right quality and at the right time for human beings to have meaningful existence. It is against this background that all efforts must be made to promote food and allied productions. Bread is a major product of bakery and about the most demanded all over the world. The implication of this is that demand for bread is automatic. Consumption of bread cuts across all ages, gender and races. Bread is taken virtually every minute. It can be taken as…

Make millions from photography... NAIJA INVEST

Make millions from photography

PHOTOGRAPHY is an excellent career choice for anyone who wants to get paid for using his creative talents. It is where reality meets memories, a competitive field where you can start small while you perfect your craft and build a portfolio of your best work. Who can do the business? Any creative and self-disciplined person can successfully explore the industry and make cool money, literally catching his fun. Start-up cost: You can actually start photography without a dime, or with little, even with millions of naira, as you can borrow or rent camera, then print at commercial digital laboratory. You…

Investors bank on buy-to-let properties for high returns... NAIJA INVEST

Investors bank on buy-to-let properties for high returns

Nigerian  developers are shying away from the otherwise promising build or buy-to-let segment of the property market,unlike in the United Kingdom, United States and South Africa, where that segment is delivering fabulous returns to investors. However, mortgage operators in Nigeria are optimistic that a positive mortgage outlook arising from the on-going reform and recapitalisation of the primary mortgage banks (PMBs) as well as the on-going establishment of a Mortgage Refinance Company (MRC) by  government and the World Bank, will spur interest in that market. Property market analysts explain that investment in build-to-let or buy-to-let property is not popular here, because…