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North building world class agro economy capable of changing its narrative—BH Analysis

Northern Govs

Clinical assessment of inflow in governments, foreign and indigenous investments in Nigeria in the last one year has shown that Northern Nigeria gained far more than other regions since the economic diversification regime of the present administration took off. The key factor driving the entire massive investment is far from favouritism but tied to availability of land and willingness of ...

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Fidelity Bank leads 35 others in Capital Adequacy Ratio in Ghana

BoG Yedu Addison

Even though the Ghana central bank has recently set new recapitalization hurdle for the entire 36 commercial banks operating in the country, latest statistics released by the Bank of Ghana (BoG) has shown that Fidelity Bank Ghana is leading other banks in Capital Adequacy Ratio (CAR) with 30 per cent. However, Fidelity Bank Ghana is independent and has no link ...

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Why Dangote yielded to FG’s 10-year tax free deal to deliver Apapa-Oshodi on concrete

Apapa port access

More details have emerged on why leading African industrialist and President of Dangote Group, Alhaji Aliko Dangote agreed with the federal government to reconstruct the Apapa to Oworonshoki Expressway in Lagos using concrete and not asphalt. A top official of the company who spoke on phone with our correspondent on Sunday revealed that “I think it is the same spirit ...

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Factors that drove Nigerian out of recession in Q2 unveiled

Udoma, Buhari, Adeosun

Since the release of data showing that the Nigerian economy exited recession in second quarter of 2017, the Business Hilights Economic Research Team (BHERT) started enquiry into what actually happened within the period that spurred a positive .055 per cent growth in Gross Domestic Products (GDP). The Statistician General of the nation and chief executive of National Bureau of Statistics ...

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CRL flags off construction work on $300m Lekki smart city scheme

Babatunde Fashola

Construction activities have commenced on the first eco-friendly smart business city in Africa, on 200- hectare land reclamation aimed at, expanding the Ikate kingdom. The $300 million Imperial International Business City (IIBC) scheme is being promoted by the Elegushi Royal Family and a private developer, Channeldrill Resources Limited (CRL). Business Hilights gathered weekend that the elite housing scheme is funded ...

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‘Customs connivance with importers’ reduced compliance to import regulations to 5 %’

Customs Ali 33

The claims by the Comptroller General of Customs, Hameed Ali, last week that less than 5 per cent of importers comply with laws guiding importation of goods into the country have been sustained by stakeholders. However, they agreed that the reduction in compliance is made possible by the robust tripartite connivance between importers, clearing agents and Customs officers working at ...

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China’s 85% funding for $5.8 billion Mambila hydroelectric power worries experts

dam scheme

Recent funding deal sealed between Nigeria and Chinese Export-Import Bank that will deliver the 3,050-megawatt Mambila hydroelectric power project in Taraba state within six year, has continued to draw both positive and discordant reactions from power stakeholders. The construction will equally be handled by a consortium of Chinese state-owned construction firms. However, and no matter how sweet and rosy the ...

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Zenith, 6 other Nigerian banks in Ghana race to meet new minimum capital base

BoG Yedu Addison

Following the recent upward review of banks’ minimum capital requirement for commercial Banks from ¢120 million to ¢400 million (about ($100 million or N30 billion) by the Bank of Ghana (BoG), Nigerian banks operating in the country have approached their Nigerian head office for assistance. However, not all of them are currently under pressure to meet the new minimum capital ...

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‘Idle $100m cabotage fund, disservice to indigenous shipping companies’

Amaechi

Stakeholders’ in the nation’s maritime sector have decried the protracted silence and inactivity of the management of the Nigerian Maritime Administration and Safety Agency (NIMASA) in resuming the effective disbursement of the over $100 million Cabotage Vessel Finance Fund (CVFF). Reviewing the situation at the gathering of leading public relations officers of maritime and related organizations, in Lagos, experts decried ...

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Another look at Elumelu’s observations on western thoughts about Africa

Tony Elumelu

Recent outpouring of leading African entrepreneur and chairman of United Bank for Africa (UBA), Mr. Tony Elumelu is mind boggling and has presented a serious challenge African. At a gathering of senior policymakers and developments experts hosted by UK’s leading foreign policy institute, the Chairman of Heirs Holdings spoke  in  a panel alongside United Kingdom Minister of State, Department for ...

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