Friday, January 6, 2017
Thursday, January 5, 2017
Wednesday, January 4, 2017
Monday, November 3, 2014
Dangote Knocks Down Cement Prices By 40%
The first and potentially a game changing salvo was fired last night in a new cement price war, when Dangote Cement Group crashed its price for the 50kg bag to just N1,000.Industry watchers say this should bring relief to builders and force the hand of the competition similarly downwards.
Devakumar Edwin, Dangote Cement’s group managing director said yesterday, that the company has pegged its 32.5 cement grade at N1,000 per 50 kg bag, while the higher 42.5 grade is to sell for N1,150 per bag.Cement prices were last in that range around 2005.
The new prices, exclusive of the Value Added Tax (VAT), represent a drop of about 40 percent on the prevailing market price of the product which currently goes for about N1,700 irrespective of the grade, across the country.Edwin said the price slash underscores the company’s commitment to support the development of infrastructure around Nigeria and boost ongoing efforts by the federal and state governments to reduce the near 20 million housing deficit in Africa’s largest economy.
Industry watchers say the price slash is enabled by economies of scale, arising from increased capacity, and add that it should see demand and the margins of the manufacturers marking up...Read More
Friday, October 31, 2014
Nigerians account for 60% Dubai apartment sales
A steady shift from the development of residential to hotel apartments in Dubai, riding on the back of the huge tourist and business traffic, is likewise seeing a significant paradigm shift in the investment portfolio of Nigerian property investors who today account for 60 percent of hotel apartment purchases in the burgeoning Dubai hospitality market.
During the property market boom which suffered a crash in the world economic recession of late 2008 to 2010, Nigerian investors accounted for well over 40 percent of Dubai’s residential market, such that a significant number of houses on Palm Jumaireh—one of Dubai’s exclusive locations—belong to Nigerian home buyers.
Investing in hotel apartments in Dubai is fast becoming a new investment lifestyle, particularly for Nigerians and Arabs, and this, according to close watchers of the market, is driven by the United Arab Emirate’s (UAE’s) duty free environment and increasing demand for hotel rooms and apartments in the city touted as the cynosure of the Arab world...Read More
Arik Named Best Airline in West Africa
Arik Air has been awarded the best airline in West Africa at the annual Akwaaba African Travel Market awards/dinner held at the Eko Hotels and Suites, Lagos on Sunday.The organisers of the award said the process leading to the choice of Arik Air as the best airline in West Africa was painstaking and the airline has become a pride to Nigerians.
The award was presented by Senator Florence Ita-Giwa to Arik Air’s Senior Vice President Finance, Rajan Nambiar.It was a convergence of stakeholders in the African travel and tourism sector as Akwaaba has become the most important travel marketing platform in the region drawing 7,000 to 10,000 visitors from over 20 countries...Read More
Thursday, October 30, 2014
Nigeria up in global doing business ranking
Africa’s largest economy, Nigeria, made further improvement in the World Bank ease of doing business global ranking which has seen the country move up five places in the last one year.
The World Bank analysis showed it is getting better to do business in emerging markets, as Nigeria jumped to 170 out of a total of 189 counties measured in the ease of doing business survey.
The report finds that Nigeria now ranks among the top five economies in Sub-Saharan Africa in two areas: the ease of getting credit and the strength of minority investor protection. Also some improvement was recorded in the process of starting up a business.
“The latest World Bank doing business global ranking which indicated Nigeria’s appreciable progress with regard to the ease and speed of doing business is encouraging and laudable. The report showed that Nigeria recorded remarkable...Read More
Wednesday, October 29, 2014
Facebook CEO Reveals His Grand Vision For The Next 10 Years
Facebook's CFO Dave Wehner and CEO Mark Zuckerberg both said that next year, Facebook will be making a series of aggressive talent and ad tech investments that will set it up for a successful future. But that could mean Facebook's expenses will increase 50%–70%.
Zuckerberg also outlined his three-, five-, and 10-year plan for the company.In summary, he wants to have multiple Facebook products — WhatsApp, Messenger, Search, Video, NewsFeed, Oculus, and Instagram — each connect 1 billion users... Read More
20 Inspirational Quotes From The Richest Africans
One stop on the road to attaining a billion-dollar fortune is to seek advice at the feet of those who have already attained it. And while it might be difficult to get face time with some of Africa’s richest people, you can learn a lot from their words of wisdom.
In the spirit of self-motivation, here are 20 inspirational quotes from a few members of Forbes’ list of 50 Richest Africans:
- If you don’t have ambition, you shouldn’t be alive. – Aliko Dangote
- Every morning when I wake up, I make up my mind to solve as many problems, before retiring home. – Aliko Dangote
- As you start out in life, it is important that you know at least something about everything, but as you get older it is important that you know everything about something. – Johann Rupert
- The harder you work, the luckier you get. – Mike Adenuga
- In Life, you don’t get anywhere or do anything you hope to without some sort of sacrifice. – Stephen Saad
- I think there are a lot of people with family connections but who are actually nowhere. If you are hardworking and determined, you will make it and that’s the bottom line. I don’t believe in an easy way through. – Isabel Dos Santos
- One has to set high standards… I can never be happy with mediocre performance. – Patrice Motsepe
- Money is not my objective. – Desmond Sacco
- I own quite a lot and I have worked very hard for it. – Sudhir Ruparelia
- In today’s world, paradoxically, it is the boldest action that is often the safest. Remaining where you are in a world that is changing so rapidly is in fact the most dangerous of all places to be in. – Hakeem Belo- Osagie
- Failure is a good thing – Hakeem Belo-Osagie
- It’s essential to draw up a “things to do” list on a daily basis and set priorities in executing them, making sure that any unfinished task get posted to the next day’s list. – Folorunsho Alakija...Read More
Tuesday, October 28, 2014
Nigeria new automotive policy to open up more opportunities in import business
The federal Government Nigeria new automotive policy is expected to cause a paradigm shift from the trend of importing fully built new vehicles to the importation of newly built automobile components (spare parts) for the utilisation of the assembly plants that are springing up in the country, analysts have said.
This development, they said, is likely going to shape the growth and content of Nigeria’s containerised imports in 2015 as the automobile spare parts are expected to come into the nation’s seaport packed in container boxes.
Investigation reveals that since the increase in the duty and levy paid on imported new vehicles from 20 percent to 70 percent by the Federal Government, Nigeria’s automotive market has started witnessing a systematic drop in the volume of imported new vehicles.
However, this development is also opening up new market opportunities and frontiers for importers, auto dealers, shipping companies and the entire business community...Read More
Nigeria MTN and Etisalat to split voice, data service with new spectrum
This move, the insiders explained, would help improve network performance and efficiency as mobile operators look to meet rising customer expectations for better service delivery and generate more revenue...Read More
Monday, October 27, 2014
Mba: Nigeria Lacks Adequate Funding for Digital Switchover
Google CEO Larry Page Explains Why He's Reorganizing The Company
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