Category: Business

    Recent successful fund raising by three major bike hailing companies, Gokada, Max.ng and Oride, has put the business in the spotlight as a source of revenue for government.   The three start-up companies that are leveraging technology for transportation cumulatively raised $62.3 million in the last two months to expand their business.   Gokada in May announced that it had raised a $5.3 million Series A round to grow its business. The company said it would use the financing to increase its fleet and ride volume, while developing…

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  In its efforts to deepen broadband penetration in the country, the Nigerian Communications Commission (NCC) has said it is focusing on ensuring that all new base stations to be built by the mobile network operators (MNOs) are 4G-compatible.   The commission said this became imperative to accelerate the spread of 4G service to 100 per cent of the country’s population with a minimum broadband speed of 1.5 megabit  per second (Mbps).   President of the Association of Telecommunications Companies of Nigeria (ATCON), Olusola Teniola, recently disclosed that mobile network operators…

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  The Federal Government, Sterling Bank, one of Nigeria’s foremost lenders, and Virtus Energy Solutions Limited are partnering to enhance power production for small businesses in Nigeria. The Managing Director/Chief Executive Officer, Rural Electrification Agency, Damilola Ogunbiyi, said the project would provide electricity access to over 80,000 shops across 16 economic clusters, empower over 340,000 micro, small and medium size enterprises, create over 2,500 jobs while serving over 18 million Nigerians. “This is a significant milestone in the financing of the Energizing Economies Initiative. Since the deployment of off grid…

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  Youths and adults alike are in for a great time at the #UBAMarketplace2019 as UBA’s award winning online network, REDTV, has lined up a number of exciting acts to keep visitors and participants entertained during the two-day event which will take place on July 26th and 27th 2019.   The UBAMarketplace2019 will be held on the sidelines of the Tony Elumelu Entrepreneurship Forum – the largest gathering of the entrepreneurship ecosystem in Africa.   The over 20,000 expected guests will be treated to a lot of  entertainment, panel sessions, fashion,…

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      Nigeria’s state oil firm NNPC plans to renew its contract for crude sales with Indonesia which expired last year, part of moves to boost exports, it said on Tuesday.   The Nigerian National Petroleum Corporation (NNPC) said it was interested in working with Indonesia’s national oil company Pertamina to improve its volume of crude exports, NNPC’s new group managing director Mele Kyari told Indonesia’s ambassador.   The corporation said in a statement that the partnership with Pertamina could open up opportunities for Nigeria’s crude oil in the…

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The Managing Director, Ecobank Nigeria, Patrick Akinwuntan has called on trainee bankers to imbibe the tenets of professionalism for them to excel in their banking career. Akinwuntan, who was speaking at the inauguration of the Entry Level Development Programme for graduate trainees at the Ecobank Academy in Lagos, enjoined the trainees to make deliberate effort to practice their assigned roles in line with the ethics of the profession. The Ecobank Entry Level Development Programme is an intensive 8-week medley of learning interventions for fresh graduates. It is targeted at equipping…

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Zenith Bank Plc, one of the biggest banks in the country by tier-1 capital and the most profitable bank in the country, has partnered with ReadManna, organizers of the competition in Nigeria, since 2007 and sponsored Nigerian winners’ participation in the World championship. The championship is organized annually in Nigeria by ReadManna Empowerment Initiative, a not for profit company led by Mrs Edna Augusto and focused on empowering students and youth in Nigeria with practical and relevant basic computer skills aligned to global standards. ReadManna is authorised by CertiportInc, a…

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.Bauchi gov optimistic The Nigerian National Petroleum Corporation (NNPC) has restated its commitment to resume oil search in the Chad Basin as soon as it receive security clearance. Group Managing Director of the Corporation, Dr. Maikanti Baru, disclosed this today when the Governor of Bauchi State, Senator Bala Mohammed, paid him a business visit in Abuja. “We will go back there as soon as we receive security clearance. There seems to be some prospects there because Niger Republic drilled over 600 wells and now they are producing while we have…

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