NIGERIA NEWSPAPERS: TODAY’S BUSINESSDAY NEWSPAPER HEADLINES [6 JULY, 2018].

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Hotel sector expands on rising foreign, domestic travellers
Fri, 06 Jul 2018
Nigeria’s hotel industry achieved double-digit growth in 2017 with increasing foreign and domestic travellers reinforcing the sector’s potential for growth. In a PwC report on hospitality in Africa released yesterday, titled Hotels Fact 2018-2022, Nigeria recorded the largest forecasted expansion in the hotels market compared to other African countries. According to the report,… The post Hotel sector expands on rising foreign, domestic travellers appeared first on BusinessDay : New
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BUY OR SELL OLD AND NEW CARS, PARTS, CAR MATERIALS AS CAR MART NG LAUNCH IN NIGERIA

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Banking industry stakeholders mourn Adamu Ciroma’s death
Fri, 06 Jul 2018
The banking industry was thrown into mourning on Thursday over the death of Adamu Ciroma, former governor of the Central Bank of Nigeria (CBN) and former minister of finance. The 84-year-old founding member of the People’s Democratic Party (PDP) died in an Abuja hospital on Thursday after a protracted illness. Reacting to the news of… The post Banking industry stakeholders mourn Adamu Ciroma’s death appeared first on BusinessDay : News you can trust.
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Nigeria debt service burden jumps to N2trn in 2018
Fri, 06 Jul 2018
Nigeria debt service burden appears to be worsening as budget office estimates an increase of around N340 billion in debt servicing cost this year. This year, Nigeria’s debt service provision is expected to increase significantly by 27 percent from N1.66 trillion recorded in 2017 to N2.01 trillion according to 2018 budget estimates. As a… The post Nigeria debt service burden jumps to N2trn in 2018 appeared first on BusinessDay : News you can trust.
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Orange holding off Nigeria investment until mobile money regulatory tweak
Fri, 06 Jul 2018
A Central Bank regulation barring non-financial institutions from providing financial services in Nigeria is all that stands in the way of Orange SA from rolling out mobile banking operations in Africa’s most populous nation, according to two persons familiar with the matter. The French telecommunications group did not immediately respond to an email seeking… The post Orange holding off Nigeria investment until mobile money regulatory tweak appeared first on BusinessDay : News you can tr
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Rite Foods competes for market share after N30bn investment
Fri, 06 Jul 2018
With N30 billion worth of investment already down, Rite Foods Limited has tripled production capacity to capture a large share of the sausage rolls and Carbonated Soft Drinks segments. The production of its soft drink in different variants of Cola, orange, bitter lemon, apple, soda water and two exclusive variants is further widening competition… The post Rite Foods competes for market share after N30bn investment appeared first on BusinessDay : News you can trust.
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Lillypond Customs Command generates N12.6bn in six months
Fri, 06 Jul 2018
The Lillypond Container Terminal Customs Command says it generated N12.61 billion in the first half of 2018 in contrast to N4.31 billion generated in the corresponding period of 2017. Mr Faruq Abubakar, the command’s Public Relations Officer, made this known in an interview with the News Agency of Nigeria (NAN) in Lagos on Thursday. Abubakar… The post Lillypond Customs Command generates N12.6bn in six months appeared first on BusinessDay : News you can trust.
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Ambode urges FG to sign AfCFTA to boost export
Fri, 06 Jul 2018
Gov. Akinwunmi Ambode of Lagos State on Thursday declared support for the African Continental Free Trade Agreement (AfCFTA) and urged Nigeria to sign the agreement. He made the declaration during the second National Committee on Export Promotion Meeting in Lagos. ‘Nigeria is one of the two countries left to sign the African Continental Free Trade… The post Ambode urges FG to sign AfCFTA to boost export appeared first on BusinessDay : News you can trust.
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MPR forecasted to remain constant through 2018
Fri, 06 Jul 2018
Economists at Bloomberg forecasted that Nigeria’s current Monetary Policy Rate (MPR) at 14 percent will remain constant till the end of H2 2018. If that happens it means that the rate which has been constant at 14 percent since July 2016 will remain unchanged till end-year 2018. ‘Economists say areconfiguration of the monetary policy committee… The post MPR forecasted to remain constant through 2018 appeared first on BusinessDay : News you can trust.
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Rising domestic debt service at N1.48trn raises analysts concern
Fri, 06 Jul 2018
The rising domestic debt service which stood at N1.48 trillion in 2017 is raising concern among financial analysts who see capital projects bearing the brunt. The 2018 budget projects a combined total of N2.01 trillion for domestic and external obligations, but that excludes sinking fund contributions for the settlement of arrears to contractors and other… The post Rising domestic debt service at N1.48trn raises analysts concern appeared first on BusinessDay : News you can trust.
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June PMI shows positive growth in Nigeria’s economy
Fri, 06 Jul 2018
According to analysts, the latest Central Bank of Nigeria (CBN) Purchasing Manager Index (PMI figure for the month of June which stood at 57.0 index points improving from 56.5 index points in May, shows a positive economic growth for the economy. ‘These numbers indicate positive economic growth. It is a recovery from the moderation… The post June PMI shows positive growth in Nigeria’s economy appeared first on BusinessDay : News you can trust.
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FOCI president applauds utilisation of N100bn Sukuk fund
Fri, 06 Jul 2018
President of Federation of Construction Industry (FOCI), Nasiru Dantata, on Wednesday, expressed satisfaction over the utilisation of the N100 billion Sukuk fund released for the construction of critical roads across the country. Dantata, who disclosed this during the FOCIs annual general meeting in Abuja, also applauded President Muhammadu Buharis administration over the payment of outstanding… The post FOCI president applauds utilisation of N100bn Sukuk fund appeared first on BusinessDay : N
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Hilton opens first hotel under $50m Africa Growth Initiative
Fri, 06 Jul 2018
Barely eight months after the launch of its Africa Growth Initiative with $50 million to be expended over the next five years to support the expansion of its sub-Saharan African portfolio, Hilton has opened DoubleTree by Hilton Nairobi Hurlingham. Formerly known as Amber Hotel, the 109-room hotel is the first in Africa to benefit from… The post Hilton opens first hotel under $50m Africa Growth Initiative appeared first on BusinessDay : News you can trust.
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Health workers demand CONHESS implementation in states
Fri, 06 Jul 2018
The Medical and Health Workers’ Union of Nigeria (MHWUN) has called on governors of Anambra and Enugu States to implement the Consolidated Health Salary Structure (CONHESS) in their states. Chief Ikechukwu Nwafor, the South-East National Vice President of MHWUN, made the call during the opening ceremony of South-East Zonal meeting of the union on Thursday… The post Health workers demand CONHESS implementation in states appeared first on BusinessDay : News you can trust.
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Grass production business could disrupt cattle rearing, address violence
Fri, 06 Jul 2018
The prospect of readily available grass to feed cows across the country has the potential to curb recurring violent clashes in different parts of the country between farmers and herdsmen. It will also see the value of cattle improve as better feed implies improved beef and milk quality. ‘That is the only thing we need… The post Grass production business could disrupt cattle rearing, address violence appeared first on BusinessDay : News you can trust.
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Electricity distributors group accuses NERC of partiality, incompetence
Fri, 06 Jul 2018
Nigeria’s electricity distribution companies under the aegis of the Association of Electricity Distribution Companies (ANED) have said the major problem in the sector is the regulator, the Nigerian Electricity Regulatory Commission (NERC), who are partial, unfair and incompetent but the regulator says the group doesn’t worth a response. This highlights the depth of the… The post ”Electricity distributors group accuses NERC of partiality, incompetence appeared first on Bus
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RenCap sees International Breweries gaining market share from rivals
Fri, 06 Jul 2018
Recent report shows that the struggle for Nigeria beer market is kicking in strong, with different players battling to increase their market share. Nigerian Breweries, which owns the largest market share compared to Guinness and International Breweries have in recent times, faced new threats posed by International Breweries for market share with the Company’s pricing… The post RenCap sees International Breweries gaining market share from rivals appeared first on BusinessDay : News you can
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Investors reward top performing companies with higher valuation
Fri, 06 Jul 2018
While overall stock market performance over the last five years has been mostly flattish, a group of 15 publicly listed companies have been able to deliver cumulative stock return of more than 300 percent between July 2013 and July 2018. Thus, outperforming the market benchmark by large margins and enriching shareholders. The best 5 performing… The post Investors reward top performing companies with higher valuation appeared first on BusinessDay : News you can trust.
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South Korea seeks partnership with NAF on counter insurgency
Fri, 06 Jul 2018
The Republic of South Korea has expressed the desire of its Armed Forces to partner with the Nigerian Air Force(NAF) in the fight against insurgency and other forms of criminality in Nigeria. A statement by the NAF Director of Public Relations and Information, AVM Olatokunbo Adesanya, said retired Maj.-Gen. Lee In-Tae, the Ambassador of the… The post South Korea seeks partnership with NAF on counter insurgency appeared first on BusinessDay : News you can trust.
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Police question four for unsolicited job interview in Lagos
Fri, 06 Jul 2018
The Lagos State Police Command says it has invited and interrogated four suspects for allegedly sending unsolicited job interview messages to members of the public. The command’s spokesman, CSP Chike Oti, told the News Agency of Nigeria (NAN) on Thursday that the suspects were invited following a complaint by a member of the public. He… The post Police question four for unsolicited job interview in Lagos appeared first on BusinessDay : News you can trust.
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NAF deploys 52 senior officers to various formations
Fri, 06 Jul 2018
The Nigerian Air Force (NAF) has redeployed 52 senior officers to various formations in the country. The redeployment comprises of 16 Air Vice Marshalls, 16 Air Commodores, Nine Group Captains and Four Squadron Leaders. According to a statement issued by NAF Director of Public Relations and Information, AVM Olatokunbo Adesanya on Thursday in Abuja, prominent… The post NAF deploys 52 senior officers to various formations appeared first on BusinessDay : News you can trust.
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