A nation in chains: How herdsmen, bandits, bad policies plunged Nigeria into recession

When United Airline, an American commercial passenger carrier, shut down its operations in Nigeria during the 2016 recession, all its Nigerian staff were sacked, travel agencies and other business partners were also affected. Till date, some of those employees and many others from other companies that downsized to stay afloat during the 2016 recession are……

Border reopening, FX liberalisation seen lifting retail sector out of recession

Border reopening, liberalisation of foreign exchange (FX) market, improvement of infrastructure and good policies have been identified as some of the policies that can lift the wholesale and retail trade sector, Nigeria’s second biggest sector by output contribution, out of recession. BusinessDay findings from the recently released third quarter (Q3) 2020 GDP report by the……

Retailers struggle to pay rents as sales decline

Retail shops are struggling to pay rents due to decline in revenue and escalating costs caused by Covid-19 pandemic, forcing them to resort to pop-up stores. “It is a fall-out of cash flow problems that arise from reduced sales – caused by poor macro conditions in the economy,” Gbolahan Ologunro, senior research analyst at Cordros……

Can Nigeria survive era of peak oil?

Nigeria’s dependence on oil has been brought into cross-examination for the umpteenth time to such a degree that some economists are questioning whether the country can survive the coming era of peak oil. The timing of peak demand has big repercussions for the planet and future of oil producers, most especially countries like Nigeria who……

#EndSARS aftermath reflects government disconnect with Nigeria’s future

After the infamous shooting of #EndSARS protesters at Lekki Tollgate, Lagos, by Nigerian soldiers on October 20, youth representatives were invited for talks by various state governments. But, as governors were setting up judicial panels of inquiry, the Federal Government was surreptitiously perfecting plans to go after the protesters. From late October to early November,……

Hal Gregerson headlines BusinessDay’s CEO Forum

The 12th edition of the BusinessDay CEO Forum, which will take place tomorrow (November 19), features a Master Class by Hal Gregerson, the executive director of the MIT Leadership Centre and New York Times bestselling author. The Masters Class is themed Questions are the Answer: Leveraging the Power of Inquiry to Win Competitive Advantage. Gregerson……

From tech to consumer goods: Here’s where PE investors see opportunities amid COVID-19

The COVID-19 pandemic may have upended global markets but there are still profitable investment opportunities lurking in the dark. It was in a bid to identify these opportunities that the Private Equity and Venture Capital Association, Nigeria (PEVCA) recently held a webinar on Private Equity (PE) investment opportunities across market segments. With most of the……

Border closure: Dangote Cement says report on sole export exemption misleading

At least three firms in Nigeria received exemption from the country’s controversial closure of its land borders, but the government’s silence on the criteria for its selective action is causing more worry among leading business leaders and investors. The border closure came under fresh condemnation after leading banker, Atedo Peterside, on Tuesday lashed out at……

Lagos to prioritise youth empowerment, security with N1.1trn 2021 budget presentation 

With N1.155 trillion presented to the Lagos State House of Assembly for approval for the 2021 fiscal year, the Lagos State governor, Babajide Sanwo-Olu, says youth empowerment and security will top his priority list. Sanwo-Olu, while presenting the budget estimates on Tuesday,  said youth empowerment has become expedient to leverage the state’s developmental efforts by……