NEED for SMEs to Thrive in Nigeria

The government is determined to rebuild and reactivate the SME sector but the private sector must play a formidable part in the exercise. Government’s determination is exemplified by the inception of the Bank of Industry (BOI) which assumed the assets and functions of the old NIDB and NBCI. The BOI is tailored to be a reliable source of long term funds for SMEs and the interest and amortization rates should be more friendly than the commercial banks.

Why Telcos Lost Over 1million Internet Users in February

Service providers in Nigeria’s telecommunications networks lost 1,275,573 internet users in February, the Nigerian Communications Commission (NCC) has said. The NCC made the disclosure in its internet subscribers’ data for February. The publication indicated that internet users on both Global System for Mobile communications (GSM) and Code Division Multiple Access (CDMA) networks dropped from 91,304,755 … Continue reading Why Telcos Lost Over 1million Internet Users in February

World Bank approves $200m loan for Nigerian farmers

The World Bank said it has approved the sum of $200 million as loan to Nigeria to support the government’s effort to boost small and medium-scale farmers. The loan would be disbursed by World Bank's low-interest arm, the International Development Association, and has a maturity of 25 years with a grace period of five years. The bank said on Friday that about 60,000 individuals will benefit directly from the funding, 35 percent of whom are expected to be women. It also stated that about 300,000 farming households will be affected indirectly.

Kenya: Using Technology to Tap a Pool of Small Investors

Today, there are at least five GSM service providers with over 100 million active subscribers. The complementary growth GSM has offered Nigeria’s potential for ICT advancement is significant, with over 60 million subscribers using internet mobile data provided by telcos. Although GSM has revolutionized the ease with which business is done in Nigeria, there are still huge untapped potentials. Kenya has just revealed one.

2019: INEC to partner indigenous printers

Chairman if the Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu, has promised professional printers in the country that the commission would explore areas to utilize their services preparatory to the 2019 general elections. Yakubu made this promise in a press statement released through his chief press secretary, Rotimi Oyekanmi, at the commission's headquarters in … Continue reading 2019: INEC to partner indigenous printers

Nigeria records first external reserves drop since December

According to latest data from the Central Bank of Nigeria, the nation's foreign exchange reserves, which had increased significantly in recent months to hit the $30bn mark, fell for the first time in 2017 on Tuesday. Punch newspaper reported on Wednesday that the external reserves dropped to $30.349bn on Tuesday  from $30.352bn on Monday. The … Continue reading Nigeria records first external reserves drop since December