By Alex C The Debt Management Office (DMO) sold N100 billion ($610.1 million) worth of bonds at higher yields for three- and 10-year paper while it was able to offer lower yields on 20-year benchmark debt. The DMO, on Thursday, said it sold N15 billion of three-year debt at 11.49 percent, 37 basis points higher than 11.12 percent the paper fetched in August. It also sold N50 billion of 10-year debt at 12.23 percent against 12.22 percent previously. The debt office sold N35 billion worth of 20-year paper at 12.29 percent, lower than 12.38 percent at the previous auction. All…
Author: Pride Team
By Alex C Nigeria’s leading social innovation centre Co-Creation Hub (CcHUB) is set to boost its incubation program with the launch of a $500,000 seed investment fund to support early stage start-ups over the next two years. CcHUB, which leverages software developers, organizations, etc., believes that start-ups will receive sums ranging from $10,000 to $25,000 to support business model experimentation and operations. It gave the name of initial beneficiaries of the seed program as Vacantboards, Truppr, Traclist, 500shops and GeniiGames. The announcement comes on the occasion of first anniversary of its incubation office which amongst other things provides entrepreneurs with…
By Alex C Revenue earnings from Nigeria’s entertainment and media industry are expected to hit an estimated $8.5 billion by 2018, a multinational advisory and auditing firm PwC report has revealed. The sector’s returns are expected to double 2013 figure of $4.0 billion at a CAGR of 16.1 percent. This figure, analysts say, is considered one of the fastest growth rates in the world. The Internet remains a key driver for Nigeria, where the number of mobile Internet subscribers is forecast to surge from 7.7 million in 2013 to 50.4 million in 2018. Television in the form of advertising and…
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The Women On Women Initiative in partnership with ROWEAD held a thought provoking and lively discussion at the Nigerian Institute of International Affairs in Victoria Island, Lagos. Chaired by Hon. Justice Victoria Okobi (Rtd), a predominantly female audience discussed the role of women in the pursuit of peace and unity in Nigeria. The event featured three renowned speakers, Professor Abiola Awoshika, Chief (Nze) Charles O Anyiam-Osigwe and Mrs Onari Duke, who presented their thoughts to the audience before a wider debate opened up. Professor Awoshika, spoke about the role of women in resolving the ethno-religious crisis currently gripping the nation.…
Like most people of his generation, President Yoweri Museveni was born at a time when hospital records of birth were not the norm. So unlike his children and grandchildren he cannot say for sure what his exact date of birth is. However he has adopted September 15, 1944 as his natal day after piecing together circumstantial information of his birth from his dear mum Esteri and an old lady with a sharp memory. President Museveni said that he “I was born approximately on September 15, 1944; there were no hospital records of my birth but from accounts from my mother…
A gun bought by loving father to protect his family against marauding armed robbers has bizzarely become the agent of self-execution of his son. Unaware that it was loaded the boy obviously clicked the trigger, possibly imitating what he had previously seen the father do while cleaning the gun. The boy’s mother had heard “a big bang in the family’s room” as she took care of her son’s little sisters in the evening at Ofankor, a suburb of the Ghanaian capital. “I blacked out when I attempted to verify the incident immediately after the bad news got relayed to me”,…
The magic of reconstructive surgery is giving a new lease of life to South African children born with facial deformities that made them the bout daily jokes from thoughtless classmates and friends. One of them had constantly been teased as having “a nose like a pig’s” Now, however, 27 such children have benefited from the expertise of plastic surgeons in Bloemfontein. Performed at Bloemfontein’s Universitas Academic Hospital, the surgeries were aimed at making the children “normal” again. For Brenda Ernst, mother to Puane, 11, the taunts left both her daughter and herself heartbroken. Having been conceived a twin, Puane’s nose…
By Alex C Players in Nigeria’s insurance industry has disclosed plans to standardise rating for motor insurance to enhance industry profitability and bring an end to rate cutting, a major killer in the sector’s business. This, they said, would be extended to group life insurance, another cash cow of the industry, which has also suffered rate cutting. Motor insurance contributes about 26 percent of the total industry premium. Sunday Thomas, director general, Nigerian Insurers Association (NIA), speaking at the maiden insurance industry joint media retreat in Abeokuta, said poor rating of some classes of insurance was borne out of the…
By Alex C Carmudi, an online car classifieds platform, have picked out five most exciting vehicle innovations that will hit the market in the next few years. From cars that will allow you to sleep behind the wheel to the ones that will keep you hydrated for hours, there will be outrageous revolutions on the road in the coming years. Carmudi, the world’s fastest growing car classified, has zeroed in on five key technologies as listed below that will hit the market in the next decade. And these are bound to change the rules of driving across the globe. With…