News

Total pension assets rose to N12.3tn in 2020 – PenCom

Total pension assets rose to N12.3tn in 2020 – PenCom

Total pension assets under the Contributory Pension Scheme rose by N2.1tn to N12.3tn as of the of the 2020 from N10.2tn as of the end 2019, latest statistics from the National Pension Commission showed on Thursday. PenCom stated that N8.13tn of the funds was invested in Federal Government of Nigeria Bonds. According to the figures, N858.46bn and N92.91bn were invested in domestic and foreign ordinary shares respectively. It added that N1.68tn and N161.39bn were also invested in local money market securities and mutual funds respectively. As part of efforts to boost services in the industry, PenCom opened the transfer window to enable workers in...

Continue reading

Manufacturers seek import duty waiver on raw materials

Manufacturers seek import duty waiver on raw materials

Leading manufacturers in the South-East on Wednesday, appealed to the Federal Government to grant their companies and other manufacturers in the zone waiver on import/custom duties of relevant raw materials and machines. The manufacturers made the appeal when a delegation from the Federal Ministry of Industry, Trade and Investment on assessment of the level of development at the Enugu International Trade Fair visited their factories. They added that the high cost of clearing and handling of imported raw materials remained one of the major challenges of manufacturing in Nigeria. The General Manager, Innoson Technical Company Ltd Enugu, Mr C.O. Ubah and Chief Executive...

Continue reading

Auto dealers, others battle FG over used Chinese cars.

chinese

The Federal Government has come under intense pressure to stop the planned sale of used Chinese cars in the country even as some Nigerian firms interested in marketing the low-cost vehicles are reportedly making enquiries. Already, many vehicle assemblers, car dealers and relevant organised groups have vowed not to back down on their opposition of used Chinese imports until the idea is jettisoned. China’s Ministry of Commerce announced about two months ago in a statement that it would soon begin the shipment of its used cars to 10 global markets including Nigeria. The action is aimed at driving the China’s vehicle sale, which...

Continue reading

Entrepreneurship panacea to youth unemployment.

The Chairman, Board of Directors of Anambra Motor Manufacturing Company Limited (ANAMMCO) Ltd, Chief Godwin Okeke, has said that the solution to youth unemployment, cultism and cyber crimes is setting up three-month entrepreneurship programme in place of current National Youths Service Corps (NYSC) programme. He said that restructuring of NYSC programme to an intensive three-month entrepreneurship training and giving the corps members bulk money of the service to start their own business would not only reduce the rate of unemployment but create jobs for the teeming youths that turn out every year from universities. Okeke, who is also the Chairman of G.U.O Transportation Service Limited, stated this while speaking with our reporter...

Continue reading

Lagos NLC demands 400% increase in workers allowances.

NLC

The Lagos Chapter of the Nigeria Labour Congress (NLC) has demanded that the transport, housing and other allowances paid to workers in the state should be increased by 400 per cent. The union said while N30,000 has been approved as the new national minimum wage, the minimum wage for workers in Lagos State should be N50,000. Stating these demands during a rally to mark the World Day for Decent Work in Lagos on Monday, the union said working in Lagos was more challenging than in other states. The Chairman, NLC, Lagos Chapter, Funmi Sessi, said Lagos was a special place and should attract a special form of allowances...

Continue reading

Exporters Accessing Our Intervention Funds, NEXIM Insists.

nexim

Contrary to some media reports, Nigerian exporters have not shunned government intervention and are accessing funds under the N50 billion Export Development Fund (EDF), being managed by the Nigerian Export-Import Bank (NEXIM) NEXIM made the clarification in a statement Thursday. According to the Bank, over the last nine months, more than N60 billion had been approved in support of commodity exports such as cocoa, sesame seed, cashew nuts, hibiscus, ginger shea products as well as hides and skin, among others, in the different geological zones of the country. “Exporters are drawing down gradually in line with the seasonality of agricultural produce. Indeed,...

Continue reading

NISA Tasks FG on Improved Healthcare Delivery.

nisa

The Nigeria Implementation Science Alliance (NISA) has tasked the federal government on policy implementation towards improved healthcare delivery in the country. The Chairman, NISA Board of Trustees, Prof. Echezona Ezeanolue stated this at the fifth NISA Conference with the theme “Achieving impact through Implementation Research’ in Abuja recently. He said health organisations and government agencies need to share information on research and bridge the gap between research and practice.The chairman, who is also the Vice President, Healthy Sunrise Foundation, said the conference was aimed at solving problems including those concerning healthcare in the country. He said “We are looking for a solution through...

Continue reading

FG to Commence Database Capturing of MSMEs Nationwide.

msmes

The federal government has announced plan to commence national database capturing of all micro, small and medium sized enterprises (MSMEs) nationwide, in a bid to enhance support towards the sector. The Chairman, Governing Board Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Mr. Femi Pedro, said the database would enable the federal government allocate resources to grow the segment of the economy which in turn would reduce unemployment. Speaking at SMEDAN’s review of the national policy on MSMEs in Lagos, yesterday, Pedro said: “This year, SMEDAN is embarking on a project that is very important to us and already has the...

Continue reading

Linking SMEs to Global Value Chains.

smes

Written by :: Anderson Ezekiel Hart Prince Joel, the Senior Partner of Prince Joel & Associates was one of the Panelist at the 4th Portharcourt Business Linkages Forum, Portharcourt. Organised by Wider Perspective Ltd in collaboration with Portharcourt Chamber of Commerce, industry, mines & Agriculture.. Theme:: Linking SMEs to Global Value Chains.. Rivers SMEs Urged To Explore Networking For Growth** As globalization continues to open up more opportunities for business expansion all over the world, business owners in Rivers State in particular and Niger Delta at large have been advised to take advantage of networking and digital marketing to grow their businesses and make...

Continue reading

The Author’s Story!

Immigration

WRITING A BOOK ON VISA AND IMMIGRATION. Over the years He has been deeply involved in Corporate Immigration services, assisting foreigners to set up businesses in Nigeria and managing their Company’s expatriate. Through his online platform, (www.immigrationlawyernigeria.com) He created a hub where Nigeria investment opportunities, business advisory and immigration information can be accessible to the world. He has also continually provided information which eases immigration process to Nigerians. As a legal entrepreneur, He has studied the visa and immigration processes in Nigeria for those seeking for either short stay, long stay or those who want to migrate. He has seen and witnessed how touts and unscrupulous elements...

Continue reading