Entrepreneur

Sweet Revenge: Businessman who was refused bank loan bought the bank 17 years later

A Manchester businessman has had the last laugh after he was refused a bank loan for being "too young and inexperienced".

That's because 17 years later, Adam Deering has bought the bank.

The 39-year-old, from Urmston, was rejected for a £10,000 business loan application in 2002.

But following his rejection, Adam went on to build a successful debt management company, which he sold for £5million in 2014.

Traders advocate border opening, compensation for impounded goods

The National Association of Nigerian Traders (NANTS) has called for the opening of the land borders and compensation of genuine traders whose goods were impounded since borders’ closure.

Dr Ken Ukaoha, NANTS President made the appeal recently during a Webinar on the “Implications and Matters Arising from the Nigeria Border Closure and Dynamics of COVID-19 on Nigeria’s Trade Competitiveness.”

Industrialisation: Development Agency signs investment agreements

The Nigerian Content Development and Monitoring Board (NCDMB) has signed an equity investment agreement with Duport Midstream Company for the establishment of an Energy Park in Egbokor, Edo State.

The Board also signed an equity investment agreement with Eraskon Nigeria Ltd. for establishment of a lubricating oils blending plant in Gbarain, Bayelsa.

The Board, in a statement on Friday in Abuja, said that the investments would catalyse industrialisation and was expected to generate about 1,500 direct, indirect, and induced employment opportunities.

COVID-19: ICT Expert advises Nigerians to digitise businesses

An Information Communication Technology (ICT) expert, Mr Tunde Badmus, on Tuesday advised businesses to remodel their style of service delivery to contactless form.

Badmus, who gave the advice in an interview in Abuja, said Coronavirus (COVID-19) is the new reality and companies need to devise means of survival.

According to him, large scale and some medium scale businesses prior to COVID-19 pandemic were already conversant with digitising their business.

Financial expert harps on massive investments in SMEs

A Financial expert in Nigeria, Mr Ahmed Abolaji, has advocated for massive investment in entrepreneurship development and skill acquisition to boost diversification of the nation’s economy.

Abolaji, who is also the Chief Executive Officer, Grassroot Alliance Consult, told Journalists in Omu-Aran, Kwara state, that such investment would help actualise the desired self sufficiency among the citizenry.

He said promotion of Small Scale Enterprises (SMEs) would also help to reduce unemployment, youth restiveness and the prevalent spate of insecurity in the country.

Skill acquisition: NDE empowers youths and women in Kaduna

The National Directorate of Employment (NDE) on Monday, said it had trained 1,680 youth and women on various skills and other empowerment schemes in Kaduna State in 2020.

The State Coordinator, Sani Maiwada, who gave the figure during an interview with Journalists in Kaduna said that the training was part of the directorate’s mandate to drastically reduce unemployment and poverty among youths and women.

Group trains youths on digital economy

A group in Lagos state, the Computer Village Hub (CVhub), has trained about 74 street hawkers dealing with software on digital economy.

The Chief Executive Officer, CVhub, Mr Austin Agbakor, who disclosed this in an interview with some Journalists in the State, said that the training was to empower the street hawkers on how to run or sell their software online, secure and configure network.

SMEs, stakeholders meet to fast track business sustainability

Small scale businesses in Nigeria’s commercial capital, Lagos, are meeting with key stakeholders in line with efforts to fast track their growth and sustainability.

The two day event organised by the small and medium enterprises development agency in collaboration with the Nigerian investment promotion commission (NIPC) will explore avenues of cooperation between small businesses and larger corporations and companies.

The event is part of the micro, small and medium enterprises (MSME) market linkage initiative.

Organisation urges more market-friendly policies for business ease

The Chief Operating Officer of Mouka Foam Ltd, Femi Fapohunda, has urged Federal Government to introduce more market-friendly policies to further improve the “Ease of Doing Business” in Nigeria.

Fapohunda said this at the 60th Anniversary Gala Dinner of Mouka Foam held on Saturday in Lagos, news agency Voice of Nigeria reports.

“Nigeria currently ranks 146 amongst 190 economies in the 2019 World Bank’s Ease of Doing Business ranking.

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