Weak oil prices present business case for eliminating fuel subsidy

The current oil price volatility that has seen the price of crude oil in the international market drop to $78 per barrel, presents Nigeria a rare opportunity to remove the entire controversial and highly abused fuel subsidy regime in the country. This was part of the emerging consensus among over 150 participants at a BusinessDay conference in Lagos yesterday. The conference discussed the impact... Read More »

Ease of doing business non-negotiable prerequisite for economic growth

Over the years, the debate over the overbearing attitude of regulators as it concerns the ease of doing business in Nigeria has never been as contentious or rancorous as it is today. What majority of the stifling policies or policy witch-hunt have effectively succeeded in doing is restrict or hinder innovation, investment opportunities, growth of economy and most importantly bring about a static economy... Read More »

Reduced costs help Mutual Assurance revert to profitability

The ability of the management of Mutual Assurance Nigeria plc to trim costs has helped the insurer revert to the path of profitability, analysis of its financial statement shows. The audited 2013 financial statement o released on the website of the Nigeria Stock Exchange (NSE) showed the Nigeria Insurer posting a profit before tax of N911.07m from N3.07bn losses recorded in the corresponding period... Read More »

RMB sees Nigeria’s creative industry as catalyst to economic growth

In a clear move to replicate feats already achieved in South Africa’s creative arts sector, Rand Merchant Bank (RMB) Nigeria Limited has unveiled a new partnership with the Nigeria Theatre Society, aimed at harnessing the immense potentials of the country’s creative industry to spur economic growth. The new partnership which will provide a viable platform for indigenous talents to be discovered, grown and nurtured,... Read More »

Pension Reform Act 2014: Redefining future of Nigerian retiree

The Pension Reform Act, 2004 ushered in a uniformed Contributory Pension Scheme for workers in both the private and public sectors in Nigeria. The law, whose implementation started June, 2004 reformed the crisis-ridden unfunded and under-funded defined benefit pension schemes in the country. Before then, the huge and increasing pension liabilities in the public sector needed to be addressed while most workers in the... Read More »

Maximise your time, maximise your money and Your Time

Trading time for money is one of the hardest ways to make cash. But when it’s your job (or hobby, or second job), you must use it wisely or you lose. Since time is finite, every second wasted means dollars gone. When you waste money, car payments may come up late, rent may be hard to make, or you may not have enough to... Read More »