January 17, 2018

Europe to ban oil stolen from Nigeria

Europe to ban oil stolen from Nigeria... NAIJA INVEST

The European Parliament is set to stop the purchase of stolen oil from Nigeria in Europe. Any crude oil meant to be sold in the European market is now to be accompanied with a certificate of origin. This was one of the landmark decisions taken at the meeting of the members of the African, Caribbean, Pacific Parliaments and their European Union counterparts (ACP-EU) at the conclusion of their three-day regional meeting in Abuja last week. Mitchell Rivasi (Acting Co- President ACP- EU) and Joyce Laboso (Co- Secretary General) told reporters that the need to stop the huge loss of Nigeria’s…

Investment opportunities seen in Nigeria’s $2bn rig repair market

RIG... Investment opportunities seen in Nigeria’s $2bn rig repair market... NAIJA INVEST

The Nigerian maritime and logistics services sector is brimming with untapped investment opportunities valued at over $2 billion for indigenous and foreign investors in the ship and oil rig repair business. The business also promises to be a key employment driver, BusinessDay findings have shown. Findings also show that in terms of revenue and job creation, one repair facility is capable of domesticating over $200 million annually, and generating about N12 billion in Customs duties, millions of dollars for the Nigerian Ports Authority (NPA) as dues collected from vessels and rigs that call the facility, as well as about 1,000…

Investment One eyes one-stop investment services

Investment One eyes one-stop investment services

The regulatory regime of the Central Bank of Nigeria (CBN) that redirected Nigerian deposit money banks to core banking activities created challenges and opportunities. CBN’s Scope of Banking Activities and Ancillary Matters No 3, 2010 requires banks to fully concentrate on core banking functions. It requires banks to either sell non-core banking businesses or form a holding company to hold such non-core banking businesses including activities such as insurance, asset management and capital market operations. Most banks, including Access Bank Plc, Diamond Bank Plc, Fidelity Bank Plc, Guaranty Trust Bank (GTB) Plc, Skye Bank Plc, Sterling Bank, Zenith Bank, Unity…

Nigeria as Africa’s new investors’ haven

Nigeria as Africa’s new investors’ haven.. NAIJA INVEST

The recent UN World Report indicated that Nigeria recorded great improvement in Foreign Direct Investment (FDI) in 2012. The report put FDI flow into the country in 2012 at 8.9 billion U.S. dollars, compared with the 6.1 billion U.S. dollars recorded in 2010. The Minister of Foreign Affairs, Dr Olugbenga Ashiru, who spoke at the ongoing Ministerial Platform in Abuja, attributed the increase to the strengthening of economic diplomacy by President Goodluck Jonathan’s administration. “The inflow of these investments had effect on the Transformation Agenda of President Goodluck Jonathan in supporting the economic programme of the government,’’ he said. Ashiru…

Nigerian Govt. told to Invest in women farmers.

Nigerian Govt. told to Invest in women farmers.

AGRICULTURE  expert Dr  Elizabeth Oluwalana has urged the  Federal  Government to invest in women  farmers to ensure long-term food security. Mrs Oluwalana, of the Department of  Business Enterprise and Management and Entrepreneurship Studies, College of Management Sciences, Federal University  of Agriculture, Abeokuta, Ogun State, said food security indicators are on red alert despite measures taken. She added  that  a  functional  strategy must focus on long-term investment in women farmers  who  labour to produce food. She urged the government to redistribute the revenues extracted from the country’s natural resources to  benefit women farmers. Mrs Oluwalana  said  food insecurity must be addressed…