Business News In Nigeria Today 28th January 2019

iDONSABI presents the business news in Nigeria today 28th January 2019.


Entrepreneurship Key For Poverty Eradication In Africa, Says Elumelu

The founding father of the Tony Elumelu Foundation (TEF), Mr. Tony Elumelu, has described entrepreneurship as a vital tool for eradicating poverty in Africa.

More importantly, he stressed that entrepreneurship would get youths in the continent busy and keep them out of social vices as well as create employment opportunities in the continent.


Development Bank Of Nigeria To Boost MSMEs With N70bn Funding

The micro, small and medium scale enterprises (MSMEs) space of the Nigerian economy will witness a major boost this year as the Development Bank of Nigeria (DBN) will channel N70 billion long term funding into the sector.

The DBN was set up with the aim of alleviating financing constraints faced by MSMEs and small corporate in the country. This is achieved by providing financing, partial credit guarantees and technical assistance to eligible financial intermediaries on a market-conforming and fully financially sustainable basis.


Celebrations Cards And Gifts To Launch In Lagos

Foremost Card and Gift retailer, Celebrations, is set to make its debut in Lagos on February 10, 2018.

With over two decades of quality service and happy shoppers in Jos and Abuja, Celebrations will expand operations with its store located in Lekki Phase 1, Lagos. The stylish and modern store is set to offer shoppers a unique shopping experience for gift items ranging from greeting cards, perfumery, jewellery, accessories, leather goods, confectionery, porcelain pieces and precious items that are perfect for celebrating life’s special people and occasions.


Club Gears Up For Annual Lions Day

The Lions Clubs International has announced that over 1,500 dignitaries are up for its 41st Annual Lions Day, in collaborations with the United Nations.

The club in a statement explained that the day was set aside to address protection of children’s health and to mark 74 years of partnering with the United Nations, amongst others.

With this year’s theme as, ‘Protecting Our Future, The Health of our Children’, the historic event would be graced by Lions, Leos, UN Diplomats and other dignitaries across the globe.


Lagos Partners Echostone to Deliver Affordable Housing Solutions

As part of efforts to tackle housing deficit in the country, Echostone Nigeria Limited has partnered Lagos State Ministry of Housing to construct 20,000 affordable homes in one year.

The public-private partnership with Lagos State aimed to provide 100,000 affordable homes in five years with modern day technology.


Kecam Releases Imaging Solutions For Data Improvement

Information Communication Technology firm, Kecam Technologies Limited, has unveiled the latest innovative imaging solutions, manufactured by Fujitsu to enhance digital transformation among businesses.

The solutions were displayed at a well attended industry-wide forum organised by Kecam to set agenda for data protection in the country.

Some of the products on display included Fujitsu Document Imaging Solutions ranging from the entry-level scanners to high-end high-speed enterprise scanners, based on cutting-edge technologies and ease of use and maintenance.


Experts Predict Minimal Growth For Retail At Confab

Riding on the forecast of the International Monetary Fund (IMF) where Nigeria economy has been projected to grow at two per cent in 2019, experts in the retail space have said that they are expecting a minimal growth in the sector in the year.

This is as activities in the economy are expected to shape the sector’s movement and consumers behaviour in general.

Guest Speaker at a retail roundtable organised by Bervidson Group, Dr. Doyin Salami, noted that actions in the industry would be determined by trends in polity, price conditions, employment, income, purchasing power, spending patterns, credit and demographic conditions.


FIRS’s Impressive N5.3trn Revenue In 2018

When Babatunde Fowler was appointed the Executive Chairman of the Federal Inland Revenue Service (FIRS) in 2016, he vowed that the agency would substantially surpass previous revenue generation record of the agency. Fowler has not disappointed. He has taken FIRS to the next level. Revenue generation has been on the rise in the last three years, following the reinvigoration of the agency by Fowler. The most remarkable is the record N5.3 trillion generated in 2018. It was the highest revenue ever generated in its history.

Fowler actualized his dream, despite the fact that crude oil, a key source of revenue for the FIRS, oscillated between $50 and $70 per barrel in 2018.


NCC Warns against Buying Preregistered SIM

The Deputy Director, Consumer Affairs (Protection Advocacy Group), National Communications Commission (NCC), Mr.Bamiji Ojo, has warned against engaging in buying Preregistered SIM cards, saying the dangers inherent in it are enormous.

He also warned that anybody who used preregistered SIM which had been used to commit crime would pay dearly for it if caught.

He gave the warning at the 102nd edition of Consumer Outreach Programme(COP) with the theme, ‘Mitigating Effects of Cybercrimes: Roles of Telecoms Consumers’, held at the Mapo Hall, Ibadan, the Oyo State capital.


MTN Protests Kogi State Shutdown Of Its Facilities

MTN — A South African country — has expressed grave concern over the whimsical closedown of its base sending facilities by the Kogi State taxation Service (KGIRS), over allegations that it has not met its tax obligations to the government.

The government is hard-to-please for cash of work Contribution levy, worker Development levy and annual rent for Right-of-Way on fibre optics cable.

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