Showing posts with label BUSINESS. Show all posts
Showing posts with label BUSINESS. Show all posts

Friday, June 30, 2023

Thirty strategies of setting up a small scale business in Nigeria

 


Thirty strategies of setting up a small scale business in Nigeria 

Setting up a small-scale business in Nigeria requires careful planning and strategy. Here are thirty strategies to consider:

Identify a viable business idea: Conduct market research to identify profitable business opportunities in Lagos.

WhatsApp Sales Blueprint 2.0 Course


Develop a comprehensive business plan: Outline your business goals, target market, products/services, marketing strategies, and financial projections.

Determine your target audience: Define your ideal customer base and tailor your offerings to meet their needs.

Tuesday, June 13, 2023

New York named the billionaire capital of the world

   


  New York has been named the billionaire capital of the world as it boasts 136 of the super wealthy moguls, fresh analysis shows. Airbnb Arbitrage Dollar Masterclass

Saturday, June 10, 2023

How to Sell to Millions of Nigerians

 


Decide on a timeline. Typically, revenue is forecasted over 12 months. ...

Consider what may drive or hinder growth. ...


Estimate your expenses. ...

First 7 Figures Selling Other People’s Products Online

 



   If you have ever wanted to build a wildly successful online business. You want to be able to make so much money that your needs will be meet at ease, and In extension, that of your loved ones.

I’m about to expose to you a clear road map you can apply today to make money on the internet simply by selling other people’s product

Friday, November 18, 2022

CBN doles out $8.8bn to eight sectors for imports

   


   The Central Bank of Nigeria (CBN) has revealed that it provided $8.89 billion to seven sectors of the economy between January and June 2022 to fund their import obligations.


    CBN stated this in its sectoral utilization of foreign exchange published on its website. A breakdown from the report shows that the industrial sector which includes cement companies received the giant share, accounting for 49.9 per cent of the total amount of $4.4 billion.

Wednesday, September 7, 2022

Brazil Prohibits Sale Of iPhone Without Charger

   



   Apple has been barred from selling iPhones without a charger in Brazil and fined more than $2 million over the issue, the government said Tuesday, after accusing the US tech giant of “discriminatory practices.”


In an official notice, Brazilian authorities ordered “the immediate suspension of the distribution of iPhone brand smartphones, regardless of model or generation, that are not accompanied by a battery charger.”

Friday, August 12, 2022

FG To Implement New Tariff Hike On Data, Calls

 



    The Minister of Finance, Budget, and National Planning, Zainab Ahmed, has said the Federal Government is on course to implement a new tariff hike on data and calls.


According to her, this will start with the implementation of a percent excise duty tax on all voice calls, SMS, and data services.


This is “in addition to the existing 7.5 percent Value Added Tax (VAT), paid for goods and services across all sectors of the economy,” a statement from

The minister’s Special Adviser, Media & Communications, Yunusa Tanko Abdullahi, added.


“The government made the disclosure on five percent excise duty during a stakeholders’ meeting, organised by the Nigerian Communications Commission (NCC), the telecoms industry regulator.


“At that meeting, Mrs. Zainab Ahmed, Honourable Minister of Finance, Budget and National Planning, who was represented by the Assistant Director, Tax Policy, Federal Ministry of Finance, Budget and National Planning, Musa Umar, noted: ‘The five percent excise duty has been in the Finance Act 2020, but has never been implemented. Henceforth, the five percent excise duty will be collected by telecom operators and payment made to the federal government on a monthly basis, on or before 21st of every month,’” the statement read further.


Read full statement below: 


FG On Course To Implement New Tariff Hike On Data, Calls – Ahmed


– Circular Issued On Planned Increase

– Implementation In Line with Finance Act To Drive Revenue Growth


The federal government has stated that it is set to implement the new tariff hike of five percent on calls and data.

The government through the Ministry of Finance, Budget and National Planning disclosed this, saying it would begin the implementation of five percent excise duty tax on all voice calls, SMS and data services, in addition to the existing 7.5 percent Value Added Tax (VAT), paid for goods and services across all sectors of the economy.

The government made the disclosure on five percent excise duty during a stakeholders’ meeting, organised by the Nigerian Communications Commission (NCC), the telecoms industry regulator.

At that meeting, Mrs. Zainab Ahmed, Honourable Minister of Finance, Budget and National Planning, who was represented by the Assistant Director, Tax Policy, Federal Ministry of Finance, Budget and National Planning, Musa Umar, noted: “The five percent excise duty has been in the Finance Act 2020, but has never been implemented.

Thursday, August 11, 2022

Buhari Reverses Approval Of Seplat Energy, Mobil Producing Oil Deal – Presidency

 


 Shortly after President Muhammadu Buhari authorised the acquisition of ExxonMobil Corporation assets by Seplat Energy Plc, he has made a U-turn on the deal.


Buhari had on Monday approved the acquisition as announced in a statement signed by presidential spokesperson, Garba Shehu.


However, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) later expressed its displeasure at the approval, describing it as a regulatory matter.


On Wednesday, Shehu said President Buhari had reversed his authorisation, choosing to support the position of the NUPRC. According to the media aide, the confusion trailing the deal was due to the non-coordination among the various agencies of government involved.

Wednesday, July 20, 2022

PremiumTrust Bank Opens in Abuja

   



    Founder, Dunamis International Gospel Centre, Pastor (Dr) Paul Enenche; Managing Director, PremiumTrust Bank, Mr Emmanuel Emefienim; Secretary, Economic Planning, Revenue Generation and Public Private Partnership FCTA, Hon Lukman Agboola Dabiri and Permanent Secretary, Federal Ministry of Finance, Alhaji Aliyu Shehu Shinkafi at the opening of PremiumTrust Bank Abuja... Monday,  18th July 2022


    Nigeria’s fastest growing Commercial Bank, PremiumTrust Bank opened to customers in Abuja yesterday, July 18, 2022. The Abuja business office becomes the sixth branch opened by the Bank in less than 90 days of commencing full banking operations. 

Bread Makers Begin Strike Over Rising Costs

   



    Breadmakers, under the aegis of Premium Breadmakers Association of Nigeria (PBAN), have begun a four-day warning strike over the rising cost of baking materials.


   The duration of the strike action will be extended if the government fails to intervene, Babalola Thomas, the association’s spokesperson said in a statement. Mr Thomas said their bakeries are incurring a “huge loss” due to the continuous increase in baking materials and diesel.

Tuesday, July 19, 2022

CBN Raises Interest Rate To 14% To Check Inflation

   


Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate (MPR) from 13 percent to 14 percent.


   CBN Governor Godwin Emefiele announced this on Tuesday during the 286th meeting of the Monetary Policy Committee held in Lagos. According to him, it was the right option considering economic realities. “The committee resolved that the most rational policy option would be to further strengthen its tightening stance in order to effectively curtail the unabated rising trend of inflation,” Emefiele said.

Thursday, June 23, 2022

The sole reason for fuel scarcity in Nigeria- PENGASSAN

 


   President of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), has given a reason for the ongoing fuel scarcity across the country, particularly in Lagos and Abuja.


Speaking during an interview on Channels Television’s Sunrise Daily, Osifo highlighted the issue of ‘bridging funds’ between the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and truck drivers who deliver the Premium Motor Spirits (PMS).


Osifo said, “The NMDPRA are the ones administering a bridging fund. At a particular time, they agreed with truck drivers that the bridging fund is going to be about N10 per litre depending on the destination you are going to all over the country.


“As at when they agreed, the cost of diesel was about N250, so it was fashionable and the N10 was a bit okay, but today, the cost of diesel is over N700. It has tripled. So, the expectation from the tanker drivers is that since the cost has gone up, instead of paying me N10.40kobo as the case may be, you’ve to multiply it by three. “At the end of the day, that’s the first problem.”

Friday, June 3, 2022

Customers Must Pay Indemnity For Transfers Above N1m- Central Bank of Nigeria

   


   The Central Bank of Nigeria, CBN, has ordered banks to collect indemnities from their customers for highly secured online funds transfer amounting to N1million and above for individual customers and N10 million for corporate customers.


  However, the apex bank placed an upper limit on the transferable amount at N25 million and N250 million for individual and corporate customers respectively. The indemnity was meant to put liabilities for any infringements or risk arising from such transfers on the customers.

Thursday, June 2, 2022

Amazon To Close Kindle e-Bookstore In China

   


    US tech giant Amazon said on Thursday that it will stop operating its Kindle e-bookstore in China from next year, closing the chapter on a massive consumer market. The e-commerce pioneer has in recent years appeared to admit defeat to local Chinese rivals such as Alibaba and JD.com, ending its online retail operations for Chinese consumers in 2019.


Amazon’s decision to pull the Kindle service comes about eight years after it first set up an official store for the e-book reader on Alibaba’s Tmall platform. “Amazon will stop operating its Kindle e-bookstore in China a year from now on June 30, 2023,” the company said Thursday in a statement on Chinese social media platform Weibo.

Monday, May 23, 2022

Central Bank of Nigeria begins two-day meeting to review the economy

 


Central Bank of Nigeria (CBN)  begins a two-day meeting to review the economy and decide on exigent monetary policies in view of global and national outlooks.

Investment bankers, financiers, investors, business owners and research and advisory experts agreed yesterday that the decisions of the apex bank’s Monetary Policy Committee (MPC) will have a significant influence on the general economic outlook, including the flows of investments between the fixed and non-fixed security markets.

Thursday, May 19, 2022

Naira Battered Further By U.S. Dollar

   



    The Naira, on Wednesday, exchanged at 419.25 to the dollar at the Investors and Exporters window, compared to 418.50 traded on Tuesday, representing 0.18 per cent depreciation. The open indicative rate closed at N418.00 to the dollar.

Tuesday, May 17, 2022

Dollar Hits N618 At Parallel Market

 




   


Dollar Hits N618  At Parallel Market, Forex Supply Shrinks. The dollar exchanged at N600 on Monday at the parallel market, heightening fears of a further devaluation of the nation’s currency.  The rate at the Importers and Exporters Window was, however, N415.75 on Monday, widening the exchange rate spread to N184.25.

Thursday, August 26, 2021

Nigeria’s GDP Records 5% Growth For Second Quarter

   


    Nigeria’s Gross Domestic Product (GDP) grew by 5.01% (year-on-year) in real terms in the second quarter of 2021, the National Bureau of Statistics (NBS) has said.

   The NBS disclosed this in the latest report on the nation’s GDP entitled Nigerian Gross Domestic Product Report (Q2 2021) released on Thursday. It explained that the increase in the GDP index marked three consecutive quarters of growth following the negative growth rates recorded in the second and third quarters of 2020.

Buhari Announces ₦287bn NNPC Profit After Tax For 2020

   


President Muhammadu Buhari has announced the declaration of a Profit after Tax (PAT) of N287billion in the year 2020 by the Nigerian National Petroleum Corporation (NNPC).

   According to a communique by his special media aide, Femi Adesina, the President’s announcement is in fulfillment of an earlier pledge by the Federal Government to publicly declare the financial position of the NNPC. Adesina’s statement notes that Buhari has disclosed a Net Profit, making it the first time in the 44-year history of the establishment.

Tuesday, August 24, 2021

PIA: 3% Allocation To Host Communities Higher Than 30% Of Profit Oil And Gas For Frontier Exploration, Says Mele Kyari

   


   Group managing director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari has expressed that allocation of three percent oil companies operating expense to host communities is higher than 30 percent of profit oil and gas for frontier exploration. Kyari disclosed this when he appeared on an NTA interview programme on Tuesday.

   Speaking during the interview, Kyari said the allocation for host communities has a low percentage but a bigger value.  He stated that the three percent from operating expense is bigger than 30 percent allocation from profit oil and gas.