Dangote Is Africa’s Richest For Seventh Year – Forbes

For the seventh year in a row, the President and Chief Executive of Dangote Industries Limited, Aliko Dangote, has been adjudged as the richest man in Africa with a net worth that Forbes pegged at $12.2bn for 2017. That was an increase of $100m from a year earlier. Bill Gates maintained his position as the richest in the world with a net worth of $86bn, while Warren Buffet and Jeff Bezos were second and third, respectively with net worth of $75.6bn and $72.8bn. “Dangote is looking beyond cement – his…

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Forte Oil Remains Worst Performing Stock On NSE In 2017

For the second year running, Forte Oil maintained its leadership as the worst performing stock on the Nigerian Stock Exchange in 2017 in percentage terms. Statistics obtained by the News Agency of Nigeria from the exchange indicated that the stock, which opened trading in 2017 at N84.43, dropped by 48.50 per cent to close the year at N43.48 per share. NAN reports that Forte Oil in 2016 also emerged the worst performing stock in 2016 in percentage terms having dropped by 74.42 per cent. The stock, which opened trading in…

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Apply For Tony Elumelu Foundation Entrepreneurship Programme 2018

The Tony Elumelu Foundation (TEF) is now accepting applications for business ideas that can transform Africa. The Programme, in its 4th cycle, is Tony Elumelu Foundation’s 10-year, $100 million commitment to identify, train, mentor and fund 10,000 African entrepreneurs by 2024. 1,000 entrepreneurs will be selected based on the viability of their idea, including: market opportunity; financial understanding; scalability; and leadership and entrepreneurial skills demonstrated in the application. Benefits The Programme provides critical tools for business success, including: Training:12 weeks of intensive online training which guides creating and managing a…

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We Can No longer Sell Petrol At N145 Per Litre – Oil Marketers

Stakeholders in the oil sector held a meeting with top government officials at the presidential villa in Abuja on Tuesday. Abba Kyari, chief of staff to the president, presided over the meeting which held at the state house conference centre. Maikanti Baru, group managing director of the Nigerian National Petroleum Corporation (NNPC), Ibe Kachikwu, minister of state for petroleum resources, and Lawal Daura, director-general of the Department of State Services (DSS), were in attendance. Addressing journalists at the end of the meeting, Dapo Abiodun, chairman of Depot and Petroleum Marketers…

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Dangote Reveals Secret Of Business Success

Africa’s richest man and most successful industrialist, Aliko Dangote, today revealed the secret of his business success: self-sufficiency and backward integration, a manufacturing strategy that extracts value from entire processes. “We are not going to import anything any longer,” Dangote said, in the presence of Nigerian vice-president Professor Yemi Osinbajo, Congolese presidential hopeful Moise Katumbi, and about 300 business leaders. He made the  disclosure At the Financial Times’ 4th annual Africa Summit  at Claridges in London. “In Nigeria we are learning how to produce the entire value chain,” Dangote added. Once…

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Aisha Ahmad Nominated by Buhari as Central Bank Deputy Governor

President Muhammadu Buhari has asked that the Senate confirm the appointment of Aisha Ahmad as the new Deputy Governor of the Central Bank. Femi Adesina, the president’s Special Adviser on Media and Publicity, announced this in a statement on Thursday in Abuja. Ahmad will be replacing Sarah Alade who retired in March this year. She was born on October 26, 1976, and was the Head, Consumer and Privilege Banking at Diamond Bank before her appointment. Ahmad, before joining Diamond Bank, had served in Stanbic IBTC Bank as Head, High Net-worth Individuals; Head, Private Client Services and Deputy…

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Google Sued Over Sex Discrimination

Three women who used to work at Google have filed a lawsuit against the technology giant, alleging it pays women less than men for comparable work. The suit says Google is aware of the situation, but has not moved to fix it. It comes as companies in Silicon Valley face growing scrutiny over gender relations. Google is also under investigation by the US Department of Labour over its pay practices. “It is time to stop ignoring these issues in tech,” said Kelly Ellis, a former software engineer at Google and…

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“I Am Not Interested In Politics, People Should Stop Dropping My Name For 2019 Presidency” – Dangote

Aliko Dangote has reacted to a report that a Peoples Democratic Party (PDP) think tank set up by former president Goodluck Jonathan has contacted him to contest in the 2019 presidential election under its platform Tthe President/Chief Executive Officer (CEO), Dangote Group said: “I am an entrepreneur. My passion is to create jobs for Nigerians and not otherwise.” “I am not interested in politics and this is authoritative. No member of any think tank committee has contacted me. People should stop dropping my name for the 2019 presidency. This whole thing is an attempt by people who do…

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4 Best-Kept Secrets Of Business Success

Business success typically requires hard-work, commitment and dedication. However, there are a couple of secrets, the knowledge of which can help significantly drive business success. Jumia Travel, the leading online travel agency, shares 4 best-kept secrets of business success. Have a Worst-to-Best Scale The best way to avoid bad business decisions is to first recognize them, and one of the best ways to do this is by evaluating your business on a worst-to-best scale. Once you are able to recognize bad business decisions, it will be easier to eschew them,…

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Wealthy Tax Evaders Must Declare Assets In 90 Days – Osinbajo

It won’t be business as usual for tax evading wealthy Nigerians as the Federal Government Monday said it had given tax evading wealthy Nigerians and corporate bodies 90 days to declare their taxable income and pay appropriate taxes or face the full wrath of the law. The ultimatum came through Vice-President Yemi Osinbajo during the 57th Annual Conference of the Nigerian Bar Association (NBA) in Lagos, where the state Governor, Mr. Mr. Akinwunmi Ambode, called for a review of the country’s revenue allocation formula. Osinbajo had in June 2017 signed…

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