Nigeria’s e-commerce market to peak $50bn in a decade as expansion seen beyond retail transactions
Bukola Odufade
September 23, 2017
Though the retail segment has largely driven the Nigeria’s ecommerce market, financial experts see exponential growth of the $13 billion current market value to over $50 billion in a decade on expansion beyond retail merchandising to including wholesale high-end products like property, auto and professional services. “E-commerce platforms are now expanding beyond online shopping malls […]
Outlook for Nigeria’s media, entertainment industry upbeat as consumer, advertising spend seen grossing $2.8bn in 4yrs
Bukola OdufadeSeptember 23, 2017
Nigeria’s entertainment and media (E&M) industry is seen grossing over $2.8 billion in the next four years on growing consumer experience and increasing advertisement spend. This is according to a PwC’s report ‘Entertainment and media outlook: 2017 – 2021: An African perspective’ released in the week. The outlook, a comprehensive source of analyses and five-year […]
Lagos highbrow residential, commercial Ikeja GRA faces rising level of vacant properties
Businessam StaffSeptember 23, 2017
An increasing number of properties in Lagos’s highbrow Ikeja Government Reserved Area (GRA), as with many other parts of the state, is coming on the market and staying empty for an average of 12 months without being occupied, an investigation by businessamlive.com has shown. The situation appears to reflect happenings in the economy where fortunes […]
Nigerian stocks end week positive, record 1.38% gain w-o-w
Businessam StaffSeptember 22, 2017
Nigeria’s equities market closed positive Friday after a flip-flop performance during the week, as benchmark index appreciated by 0.85 percent to close at 35,488.81 basis points as against 0.05 percent depreciation recorded previously. Market capitalisation rose by N103 billion or 0.85 percent to close at N12.233 trillion against the N12.130 trillion recorded Thursday as market […]
Improved lending to Nigeria MSMEs seen as banks register N392bn movable assets on the National Collateral Registry
Businessam StaffSeptember 22, 2017
The Central Bank of Nigeria is hopeful that increased acceptance of registry of movable assets as collateral by financial institutions would reduce funding gaps of medium and small-scale enterprises (MSMEs). In a foreword to the maiden edition of the NCR Newsletter, released Thursday, Godwin Emefiele, the governor of the CBN disclosed that as at 24 […]
No end in sight for skills shortage as Nigeria’s policy environment for education poor with score of 23.7%
Steve OmanufemeSeptember 22, 2017
A new worldwide educating for the future index created by the Economist Intelligence Unit (EIU) and commissioned by the Yidan Prize Foundation, indicates that the policy environment for education in Nigeria is poor at a score of 23.7%, which accounts for the country’s overall low rank of 32 in a survey of 35 global economies. The […]
AFIG, African private equity fund managers, takes stakes in Nigeria’s FSDH Merchant Bank
Businessam StaffSeptember 22, 2017
FSDH Merchant Bank (FSDH), a financial services group in Nigeria, has announced that Advanced Finance and Investment Group (AFIG Funds), a leading African private equity fund manager has, through the Atlantic Coast Regional Fund (ACRF), completed an investment in the bank. By this development FSDH becomes an AFIG portfolio company. In a statement released late […]
WTO upgrades trade forecast for 2017 on resurgent Asian flows
Businessam StaffSeptember 22, 2017
The World Trade Organization (WTO) on Thursday revised upward its forecast for global trade growth in 2017 to 3.6 percent, from the previous estimate of 2.4 percent, citing a sharp acceleration in global trade growth in the first half of the year. According to WTO economists, stronger growth in 2017 was attributed to a resurgence […]
OPEC meets to see over need for oil cuts extension as Nigeria considers output cap soon
Businessam StaffSeptember 22, 2017
OPEC and its allies indicated that they’ll wait a bit longer to see if further action is required in their bid to clear a global oil glut, while the Nigerian Minister of State for Petroleum Emmanuel Ibe Kachikwu said that his country would accept an output cap once security in its oil-producing region has fully […]
Investors’ profit booking sell-offs in Dangote Cement dip Nigeria equities index 0.05%
Businessam StaffSeptember 21, 2017
A raft of investors’ profit booking on Wednesday’s price gains by Nigeria’s most capitalised company, Dangote Cement plc, saw sell-offs of shares in the company that led to a reversal of fortune for the country’s equities index, which went down 0.05 percent at the close of Thursday’s trading. At the close of trading the Nigerian […]