Manufacturers Association wants CBN to Reduce Lending Rate

The Manufacturers Association of Nigeria (MAN) has called on the Central Bank of Nigeria (CBN) to drop the lending rate from 14 per cent to accelerate productivity and economic growth.

The President of MAN, Mr Frank Jacobs, made the appeal in an interview with the News Agency of Nigeria at the weekend in Lagos.

The Central Bank had maintained a 14 per cent lending rate to commercial banks since July 26, 2016 in its bid to check inflation and stimulate economic growth.

Nigeria has Limitless Capacity to Grow SMEs –Osinbajo

Acting President Yemi Osinbajo, SAN, has stated that President Muhammadu Buhari knows Nigeria's capacity is limitless in terms of what we can produce, even as he disclosed that in his relationship with the President in the last two years, he has been treating him more like a brother and a son.

Speaking on the President's convictions he said "when he gave the 2017 budget speech in December 2016, the President said the central vision of our government is to grow everything that we would eat and to make everything we would use."

State Govt Secures $1.5b Deal for Shoemakers

Gov. Okezie Ikpeazu of Abia says his administration will enhance the standard of shoe making in Aba as part of its investment development strategy.

Ikpeazu, who made the promise at a press briefing in Government House in Umuahia on Monday, said that he would facilitate capacity building in the industry.

He said that the state government was determined to reposition shoe makers in Aba and as such had secured a 1.5 billion dollars shoe factory deal with a Chinese shoe industry.

Tax Holiday for Miners in Nigeria –FG

The Federal Government on Thursday Promised to give tax holidays to some miners in the country.

Dr Kayode Fayemi, the Minister of Mines and Steel Development, made the promise at a stakeholders meeting of the Association of Miners Processors of Barite (AMAPOB) and Tse Torkula Community in Guma Local Government area of Benue state.

The Minister for State Mines and Steel Development, Mr Abubarkar Bwari, also attended the meeting.

Empowerment: World Bank gives 81 Nigerians ₦756.3m

Drawing from the successes recorded by the Buhari administration’s youth empowerment schemes, the World Bank, under its Growth and Employment (GEM) project, has approved the sum of N756.3 million for disbursement to 81 young Nigerian innovators who participated in the 2016 Aso Villa Demo Day (AVDD) – one of the economic empowerment initiatives of the present administration.

Young Entrepreneurs form Sub-regional Trade Network

Young entrepreneurs from four African countries have formed a new network to address challenges to sub-regional trade and youth unemployment.

They are from Nigeria, Cameroon, Ghana, and Sierra Leone.

The network is “Commonwealth Alliance of Young Entrepreneurs – West Africa (CAYE-WA)’’.

It was inaugurated on Wednesday in Accra, Ghana, according to a statement by Mr Will Henley, the media contact at the Commonwealth Secretariat.

The network aims to support youth business leaders to expand cross-border trading opportunities.

The Wine Boss who was Glad to be Sacked

Rowan Gormley says he had no idea that he was about to be sacked.

Back in June 2008, as the founder and boss of Virgin Wines, he was trying to lead a management buyout from its then-parent group Direct Wines.

"I got called into a meeting, I thought it was to discuss the purchase price," says Mr Gormley, now 54. "Instead, a letter was pushed across the table to me, which said I was being dismissed.

"I immediately walked out of the room and tried to use my [company] mobile phone, but it had been barred while I had been in the meeting."

The Obamas Get Over $60m Deal for Memoirs

Penguin Random House has landed a deal to publish two forthcoming memoirs by former U.S. President Barack Obama and the former first lady, Michelle Obama, with one volume to be written by each, the publishing company said on Tuesday.

Terms of the agreement, in which Penguin Random House acquired worldwide publication rights for the two books, were not disclosed, but Financial Times said the Obamas may have set a record deal in excess of $60million.

Entrepreneurship: Group applaud Tony Elumelu Foundation

A group of young Nigerian entrepreneurs have commended the contributions of the Tony Elumelu Foundation in encouraging and supporting budding entrepreneurs to grow into big enterprises with positive impact on the economy.

The group led by Chairman of Stanel Group, Mr Stanley Uzochukwu, made the commendation during a courtesy visit to Dr Tony Elumelu, the chairman of the Tony Elumelu Foundation.

Lagos Govt Approves Funding for MSMEs

The Lagos State Government says it has so far approved funds for 281 micro-enterprises, of which 150 have received offer letters under the pilot scheme of its Employment Trust Fund (ETF).

Mr Akintunde Oyebode, the Executive Secretary of the ETF, made the remark on Friday in Lagos, at the presentation of offer letters to some of the beneficiaries.

According to Oyebode, the pilot scheme of the ETF seeks to support 1,000 Micro, Small and Medium Enterprises (MSMEs).