Micro, Small, and Medium Enterprises or MSMEs constitute approximately 96% of businesses in Nigeria. There are even more SMEs in Nigeria than the United States which has 53percent and 60percent in Europe, studies say, but access the credit facility has been one of their major challenges. That’s why the microeconomic and financial analysts have severally … Read more
When you check the price of a property in areas like Lekki, Ikoyi, Ikeja, and other top choices in Lagos, Nigeria’s commercial capital, you are likely to see NGN50million or more for a plot of land measuring 600 square meters It becomes financially challenging for a prospective buyer to own property in the aforementioned top … Read more
One of the states in the southwest which hasn’t fully explored the mineral resources it is blessed with is Osun, a state which was created on August 27, 1991, by the military administration of Gen. Ibrahim Babangida. Despite the fact that Osun is full of honey, it remained a “Civil Service” state while the state … Read more
Since the oil was first discovered in 1956 in Oloibiri, the present-day Bayelsa State, Nigeria has made several billions of US dollars from the sales of oil. Since then Nigeria has become Africa’s number one producer of oil and number six on the global ranking. In 2018, Nigeria made $32.63 billion in revenue from the sales … Read more
There are hundreds of investment opportunities in Nigeria, but one of the challenges is insecurity, from the North to South, West to the East, even the Federal Capital Territory, the seat of power, the government can’t adequately assure maximum security. As such, as a foreign investor or a potential investor, you should “shine your eyes” … Read more
The six geopolitical zones in Nigeria are North East, North West, North Central (also known as Middle Belt), South East (comprises of majorly Igbo-speaking people of the defunct Biafra Republic ), South-South (also known as Niger Delta region), and the South West (majorly the Yoruba-speaking people). Creation of Nigeria’s six geopolitical zones The idea for the creation of Nigeria’s … Read more
The movement of products across the border isn’t the same as inter-state trade. The seller can personally deliver an order from Ibadan to Lagos where his customers are based, it isn’t like that in international trade. Because of this, an exporter has to understand the export market before diving in. Risk is inevitable in any … Read more
The military regime of Gen Olusegun Obasanjo in 1976 approved the establishment of the Nigerian Export Promotion Council (NEPC) through Decree No. 26 of 1976 which has now become an Act. Obasanjo’s regime at the time said Nigeria needed to build a viable economy that can be sustained through agricultural products aside from crude oil, … Read more
Bitcoin hit $61,183 (NGN34,989,273.30) for the first time in six months on Friday, October 15, 2021, as the United States’ body language shows that it may approve the launch of an exchange-traded fund based on its futures contracts. Usually, policies of major economies like China, USA, South Korea, Japan determine how the market reacts. For … Read more
Created on September 23, 1987, by the military administration of Gen. Ibrahim Badamosi Babangida, Akwa Ibom is one of the states that make up the South-South Geopolitical zone with its headquarters in Uyo. It was formerly part of Cross River until its creation as a result of the committed efforts of some of its prominent … Read more
What Is Dollar Debit Card? A dollar debit card is a debit card that carries out transactions in US Dollars. It operates like the Naira Debit card, the major difference is that it’s denominated in USD or whatever foreign currencies’ transactions it’s designed to perform. Some banks in Nigeria have Pound Debit Card, which means … Read more
Nigeria is in a dire economic crisis as the country uses 40% of its foreign exchange to import the resources it produces as non of its refineries remain redundant. The country is one of the major producers of crude oil, yet it finds it difficult to refine the fuel it consumes daily, but the Nigerian … Read more
The price of Bitcoin has spiked to NGN33,777,567.30, a few weeks after China announced the ban of cryptocurrency, although it reacted to the shock, it was momentary. Also, the new spike may also be as a result of a report by Bloomberg that the U.S. Securities and Exchange Commission didn’t oppose the launch of a futures-based Bitcoin exchange-traded fund … Read more
The Government of the United Kingdom has updated the list of companies and organizations that are licensed to sponsor foreign workers on work visa into the U.K. At the time of reviewing this article, the updated list contains 100,158 organizations that can legitimately bring workers on the employment-based work visa route into the country. The list was … Read more
On the global ranking of ease of doing business, Nigeria isn’t a conducive environment for investment, but the report by the Absa Africa Financial Markets Index 2021 (AAFMI) says Nigeria is the third most attractive country in Africa for foreigners to do invest. Producer: Official Monetary and Financial Institutions Forum (OMFIF) Sponsor: Absa Group Limited … Read more