Guinness Nigeria Sweeps 7th Edition of The Industry Awards, Named Most Outstanding Company in Sustainability

(i) Less likelihood of strong national carrier from “survival of the fittest local strategy;
(ii) Disorderly development of air transport market: increases of financial cost from collapse of several domestic carrier;
(iii) Great likelihood of worsening safety records in Nigeria;
(iv) Increased reliance on foreign carriers, among others.
(v) Nigeria would most unlikely not develop into a regional hub.

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The Power of Faith to End Extreme Poverty by 2030

24/04/2015

Over 30 leaders from major world religions and heads of global faith-based organisations launched a clarion call to action to end extreme poverty by 2030, a goal shared by the World Bank Group. Ending Extreme Poverty: A Moral and Spiritual Imperative notes that remarkable progress has been made in reducing extreme poverty.

Over 25 years, the world has gone from nearly 2 billion people to fewer than 1 billion living in extreme poverty. Now, for the first time in human history, there exists both the capacity and moral responsibility to ensure that no one has to live in extreme poverty’s grip.

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The Uninsured Vs The Insurance-less Among Us

Business Journal

24/04/2015

Many Nigerians entered the New Year with anxiety and prayers over their lives and properties, especially because the elections were expected to come with violence that would lead to losses and damages. This seems normal.

Some decided to take the abnormal step to take up insurance, having become more informed and aware of the positive developments in the insurance sector, and are already enjoying a less anxious life even if they would not feel secured. Such insurances are of personal nature namely: Life, Health, Pensions, Mortgage, Children Education and Motor (mostly Third Party).

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Football Against Poverty

Business Journal

24/04/2015

Didier Drogba , Ronaldo, Zidane in 12th Annual Match Against Poverty.
Football superstar and Chelsea striker Didier Drogba joined a star-studded array of international active and retired players for the 12th Annual Match Against Poverty which will took place on 20 April at the Geoffroy-Guichard Stadium in Saint-Etienne, France.

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The Cement War

Business Journal

24/04/2015

The global supremacy for cement production is growing per second across many nations. Today, nations have come to realise the key importance of attaining domestic cement sufficiency for national development and export.

In Nigeria, the Dangote Group is leading the nation’s dream for cement sufficiency and expansion in Africa. The Cement war is presented in infographics for greater appreciation.

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Do You Really Need a Consultant?

Business Journal

23/04/2015

The argument as to whether or not an organisation with a well-staffed and well-equipped public relations department still needs the services of an outside consultant may never cease, well, as long as organisations exist, or, should we say, as long as life itself exists.

Why bother about a consultant who may not be found when needed most, and whose cost you may not be able to contend with, especially against the background of other competing and more pressing needs?

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The IMF perspective: 7 Questions on Oil Price Slump

Business Journal

23/04/2015

Oil prices have plunged recently, affecting everyone: producers, exporters, governments, and consumers. Overall, we see this as a shot in the arm for the global economy. Bearing in mind that our simulations do not represent a forecast of the state of the global economy, we find a gain for world GDP between 0.3 and 0.7 percent in 2015, compared to a scenario without the drop in oil prices.

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Shelter Report 2014: Step by Step: Supporting Incremental Building Through Housing Microfinance

Business Journal

23/04/2015

Habitat for Humanity has just published a report on how Housing Microfinance (HMF) can be effective when used in conjunction with incremental building: ‘In our rapidly urbanising world, decent living conditions are becoming scarce, especially in developing countries. The lack of economic opportunities in rural communities is encouraging a global urban migration, but many of the world’s cities do not have the capacity to support this influx of new inhabitants.

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African Economies Drive Growth via IT Adoption

Business Journal

23/04/2015

Emerging African economies are increasingly embracing Information Technology (IT) service solutions in a bid to support their growth initiatives.

That’s according to the latest insights released by International Data Corporation (IDC), with the global advisory services firm also explaining that growing public and private sector IT spending, together with maturing and increasingly competitive business environments, are also driving IT services demand.

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US Oil Import from Nigeria Down 67%

Business Journal

20/04/2015

The United States decreased its oil import from Nigeria by 67 per cent in 2014, signaling growing economic pain and sustained
pressure on foreign reserves, already down to $29.3 billion as at April 15, 2015, its lowest point since 2010.

Figures from the US Department of Commerce suggest that U.S. total trade in 2014 (exports plus imports) with sub-Saharan Africa (SSA) also went down by 18 per cent to $52.1 billion compared to 2013.

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IFC Invests $2bn on Power Generation in Africa

Business Journal

20/04/2015

The International Finance Corporation (IFC), an arm of the World Bank Group, says it has mobilised and invested over $2 billion to support more than 1, 5000 megawatts of new generation capacity in Africa in the past two years.

It says Africa needs to increase its power generation capacity by 7, 000 megawatts each year to meet rising demand for electricity in a continent where most people live without electricity lamenting that such gap hinders economic growth and deters much-needed foreign investment. It says that expanding the supply of energy has become an imperative that cannot be delayed in Africa.

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A Tale of Three Regimes

Business Journal

20/04/2015

Since 2004 to date, the banking sector and Central Bank of Nigeria (CBN) have welcomed three different Governors of three different governing styles. In essence, Chukwuma Soludo, Lamido Sanusi and Godwin Emefiele represent three dimensional regimes in one critical sector-Banking.

For those that lived through the Central Bank of Nigeria (CBN) regimes of Professor Chukwuma Soludo and Mallam Lamido Sanusi, it was always a difficult act to objectively locate the successes and failures of both administrations in terms of curing the banking sector of its endless Ebola diseases and building strong bricks for sustainable future growth.

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Optimism Reigns in 2015 Insurance Industry Outlook

Business Journal

20/04/2015

Despite falling oil prices and post-election uncertainties,the Nigerian insurance sector is looking into the future with broad optimism and confidence. Mr. Fola Daniel, Commissioner for Insurance, National Insurance Commission (NAICOM) says the industry is undergoing rapid transformation, thus requiring the strategic support of operators and other relevant stakeholders to enable the industry occupy its rightful position in the forefront of the financial services sector in Nigeria.

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Nigeria Airways: Murdered in Cold Blood 12 Years Ago by Government

Business Journal

20/04/2015

This is the story of a national titan, who offered service to the nation for over 40 years. In these years, in keeping with the social responsibility philosophy of its establishment, “WT” (Whisky Tango), as it was fondly recognised in the global aviation circle, flew daily sorties in addition to scheduled operations to advance the aspirations of a new nation.

Between 1960 – 1975, Nigeria Airways announced, publicised and projected the image of a new independent black African nation. From Europe to America, from Africa to Middle/Near East, the Nigerian flag flew on WT. It not only brought pride to the nation and its people, but also raised their profile globally at a time when very few nations of the world were in the global air space.

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APC Plans Mass Re-engineering of Federal System

Business Journal

16/04/2015

The emerging APC administration is seriously considering mass re-engineering of the federal system, especially Ministries, Departments and Agencies (MDAs) to ensure the success of its policies and programmes when the party takes office at the federal level on May 29, 2015.

A senior APC chieftain confided in Business Journal in Abuja that considering that most of the heads of the MDAs were brought into office by the Peoples Democratic Party (PDP) or were clandestine card carrying members of the PDP, which had been in power since 1999, the success of APC policies may not be guaranteed under them.

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