The African development Bank (AfDB.org) will on Friday, 8 February 2019 present the 2019 edition of its flagship African Economic Outlook (AEO) report, on the sidelines of the 32nd Ordinary Session of the Assembly of Heads of State and Government of the African Union. The annual AEO highlights economic prospects and projections for the entire continent and for each of the 54 countries. The 2019 AEO aligns with the mission of the African Union to “promote sustainable development at the economic, social and cultural levels as well as the integration of African economies.
The Federal Road Safety Corps (FRSC) and Lagos State Traffic Management Authority (LASTMA) have advised Lagos residents to use Bus Rapid Transit (BRT) and waterways transportation during the repair of Third Mainland Bridge. Mr Hyginus Omeje, Lagos State Sector Commander of FRSC and Mr Chris Olakpe, LASTMA Chief Executive Officer, gave the advice on Thursday in separate interviews with the News Agency of Nigeria in Lagos. They were reacting to the proposed closure of the bridge for emergency rehabilitation/maintenance. NAN reports that the Federal Controller of Works, Lagos, Mr Adedamola Kuti, had on Wednesday said that the emergency rehabilitation/maintenance of the Third Mainland Bridge project would begin on July 27. Kuti, who spoke at a stakeholders’ meeting in Lagos, said t
The Federal Government said its approach to the fight against malaria has yielded positive result, going by records which confirmed significant drop in malaria prevalence in the country. Government insisted that malaria is still a major cause of morbidity and mortality in the country, in spite of the significant drop in its prevalence from 42 percent in 2010, to 27 percent in 2015, according to Malaria Indicator Survey (MIS) report. National Coordinator, National Malaria Elimination Programme (NMEP), Dr. Audu Bala Mohammed, told journalists in Abuja, yesterday, that the success was due to the ban placed on the use of monotherapeutic drugs such as chloroquine, to treat malaria. “We did extensive research and discovered that the monotherapeutic drugs have lost effect on malaria. We r
The Government of Japan has announced that it will fund a project to promote youth entrepreneurship in north-eastern Nigeria. This is one of eight new projects implemented by the United Nations Industrial Development Organization (UNIDO) in Ethiopia, Iraq, Jordan, Lebanon, Liberia, Nigeria, Somalia and the Syrian Arab Republic, with Japanese funding totaling $5.2 million. The project will build on a previous project funded by the Government of Japan to further improve senior secondary school education. By providing students with technical trade knowledge and entrepreneurial knowledge and skills, young people will learn how to start and manage their own micro and small-scale businesses, thus promoting youth-led entrepreneurial development. Upon successful implementation of the project...
Kogi State government has launched its online agricultural market place, kogiadp.org, which will connect farmers to the world. Managing Director, Kogi Agricultural Development Project, ADP, Mr. Oyisi Okatahi, who revealed this yesterday while speaking with newsmen, said the scheme was made possible due to the commitment of Governor Yahaya Bello in making Kogi the foremost agricultural state in the country. He said: “The digital market will enable farmers to fully dispose of farm produce, help in mitigating against loss of profit to middlemen and prevent their goods from getting spoilt since buyers can off-take their produce, even before harvest. “The strategy is for extension agents to help farmers list their produce online and get the best prices for their labour.” He urged yo
Africa’s richest man and chairman of Dangote Group, Alhaji Aliko Dangote has partnered the Government of Abia State to fight the scourge of unemployment and enhance human capital development in God’s own state. To achieve the set objectives the chairman of Dangote Group has made available N18.5 million seed money for the establishment of a job centre at Okpuala the headquarters of Isiala Ngwa North Local Government. Speaking at the ground breaking ceremony for the Dangote Education for Employment (E4E) Job Centre, the renowned industrialist said that the job centre was a demonstration of his interest in human capital development, especially in Abia State. Dangote, who was represented by the head compensation and benefits of the Dangote Group, Mr. Charles Obera, said that it was hi
As Technologies such as Internet of Things (IoT) and Big Data Analytics continue to transform and disrupt the business world, the Managing Director of Vodacom Business Nigeria, Lanre Kolade, calls on Nigerian Businesses to adopt new technologies to drive productivity and efficiency to remain competitive. Speaking at the recently held Business Day CEO Forum Nigeria 2017, an annual thought leadership initiative in collaboration with McKinsey & Co, Kolade said “Technology such as IoT enables growth across business sectors. Today, many organisations are using this technology to cut costs, reduce risk, increase revenue and efficiency”. Businesses in Africa are gradually adopting IoT, with Nigeria being one of the leading IoT markets in Africa. This adoption is driven by the increasing
The Nigerian Institute of Medical Research (NIMR) has revealed that high blood pressure remains number one killer disease in Nigeria, accounting for about 52 per cent cause of sudden deaths in the country. The Director-General of NIMR, Prof. Babatunde Salako, made this known at a symposium on ‘Sudden Death in Nigeria: Public Dissemination of National Survey’ held at the research centre in Yaba, Lagos. Citing Wikipedia, the DG defined hypertension, also known as high blood pressure (HBP), as a long-term medical condition in which the blood pressure in the arteries is persistently elevated. According to Salako, hypertension is a silent killer which 70 per cent of people were not aware of. “It is a silent killer because it usually comes with no early symptoms. To stem the rate of
The past year has been one of economic progress for Nigeria, with Africa’s largest economy managing to crawl back into growth territory in the second quarter of 2017. The Nigerian government has realised that they need to make the country as attractive and lucrative as possible for offshore investors to bring their capital, skills and business trade into the country. One way is to provide tax holidays to “pioneer companies,” who are engaged in the production of export goods, establishing new industries, or expanding production in vital sectors of the economy. Pioneer companies that are eligible under the Industrial Development (Income Tax Relief) Act can enjoy an income “tax holiday” for a period of up to five years. In addition, pioneer companies enjoy other benefits such as the exe
As a general rule, every business must operate around a budget. From allocating resources to financial responsibility, a budget shows the amount of money that is available for capital and recurrent expenses, required for essentials or for miscellaneous expenses at a particular period. While entrepreneurship generally comes with a certain level of risk taking, it is usually wise to manage certain risks as you go along. This is one of the many roles a budget plays in small to large scale businesses. There are many tools available to manage budgeting you can take a look online for available softwares but we will easily recommend Microsoft Excel as the most accessible of the lot. Understand Business Costs Regardless of the type of business you're running, there is a cost