Elon Musk expands into Europe building Giant Factory in Germany

Tesla CEO Elon Musk made it official on Tuesday -- the electric car company plans to build a ‘Gigafactory,’ and engineering and design center in Berlin, Germany. The facility would be Tesla’s fourth, following the first Gigafactory battery plant in Nevada, near Reno; a factory that makes charging equipment and power electronics in Buffalo, New[...]

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Innovation: Bill Gates sponsors company that discovers unsinkable metal

It took just 2 1/2 hours for the Titanic to sink after it collided with an iceberg in 1912. Before the disaster, the ship was said to be unsinkable thanks to the design of its below-deck compartments. But the Titanic's engineers hadn't anticipated that a disaster would puncture six of those compartments. More than a[...]

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Dangote Group begins exporting Rice

The group said that its 150,000 hectares rice farmlands in Jigawa, Kano, Kebbi, Nasarawa, Niger, Sokoto, and Zamfara States as well as 10 rice mills it was establishing in different parts of the country would deliver one million tons of rice annually. This was disclosed by Dangote Group’s Executive Director, Kunt Ulvmoen, when he spoke[...]

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Reforms needs to be intensified for Ease of Doing Business in Nigeria

By the latest World Bank ranking, Nigeria is currently among the top ten most improved places to do business in the world, jumping 15 spots from 146 to 131 out of the 190 countries surveyed. The Doing Business Index is an annual ranking which objectively assesses prevailing business conditions across 190 countries based on 10[...]

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How the top Multimillionaires invest their money

With so many different options, following a successful investment plan isn't that straightforward. One common practice by many investors is to look at what the wealthiest investors are doing. Often, the most successful investors have stakes in diverse sectors, ranging from more traditional industries to disruptive technologies too. According to independent analyst Rafael Ojeda, "diversifying[...]

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Chevron to focus on US oil market and Sell off Nigerian assets

Chevron is reportedly making plans to sell some of its Nigerian oil assets and focus on growing its shale production in the United States. Reuters reports that the action is part of a decision reached to reshape the company’s portfolio. Discussions are reportedly taking place directly between the company and potential buyers while Chevron is[...]

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Research: the reality of Nigeria’s Border Closure

The Federal Government’s recent closure of its land borders with some neighbouring countries in the West Coast deserves some deconstruction – for the purpose of understanding its import at this time. The exercise came without any prior notice and expected terminal date. In other words, the fiscal policy was imposed without availing people the opportunity[...]

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World bank encourages African Countries especially Nigeria to do more.

Nigeria, as the biggest Economy in Sub-Saharan Africa, alongside others, have continued to improve their business climates, but needs to do more, the World Bank Group has said. Economies of the region enacted 73 reforms, down from a record high of 108, and the number of countries implementing at least one reform fell to 31[...]

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Is Facebook forced to abandon Libra Project amid regulation issues?

Facebook could be forced to abandon its own cryptocurrency project if the newly created group steering it decides to move forward without regulatory approval, CEO Mark Zuckerberg said Wednesday during his testiomony at a House Financial Services hearing. “Facebook will not be part of launching the libra payments system anywhere in the world until U.S.[...]

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Rice Farmers association applaud Border Closure, promise economic development

Alhaji Aminu Goronyo, National President, Rice Farmers Association of Nigeria (RIFAN), has said that the closure of the country’s land borders is a good omen for Nigeria’s blossoming economy. This, the RIFAN National President says, has begun to bolster the nation’s economy, hence, it is now becoming more formidably robust and transformed, which is expected[...]

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Africa’s Richest Man talks Plans to Create Jobs and alleviate Poverty

Africa’s richest man and Chairman of Dangote Cement Plc, Alhaji Aliko Dangote has promised to continue to do all within his power to help in alleviating poverty and spread wealth even as he charged Nigerians not to lose hope in the country. Speaking against the backdrop of commendations by winners in the ongoing extended Dangote[...]

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National Outrage as Telecoms begin to Charge for Airtime Banking

Beginning from today, Nigerians who use financial institutions’ unstructured supplementary service data (USSD) platforms to transfer money from one point to another are expected to incur additional charges for such services. The USSD services include the GTB’s *737#; First Bank’s *894#; Fidelity Bank’s *770#; Access Bank’s *901#; and UBA’s *919# that run on telecoms’ operators[...]

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Investment Inflow in Third Quarter is Over $9billion – FG

Over $9.29 billion worth investments came into the nation’s economy in quarter three (Q3) of 2019, according to the Nigerian Investment Promotion Commission (NIPC’s) July to September, 2019, Newsletter. Broken down, NIPC said a total of 13 projects across four states and offshore Nigeria were announced by investors from four countries. The investments however, fall[...]

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Investment Veteran Ken Fisher looses over $500mil for making Sexist Statement

The state of Michigan has pulled $600 million of its pension fund from wealth management company Fisher Investments after the company’s founder and CEO Ken Fisher made sexist comments at a summit in San Francisco this week. At the Tiburon conference, Fisher compared his wealth management strategy to picking up women for sex, made explicit[...]

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How to invest and make 3million dollars by age 20

Three million dollars sounds like a lot of money. And for the 22% of Americans who say they have less than $5,000 set aside for retirement, saving that much may seem like an impossible goal to work toward. But what if you could retire with $3 million by the time you were 67? The good[...]

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CBN emplores Nigerian Businesses to Utilise Technology to Succeed

Deputy Governor of the Central Bank of Nigeria (CBN) in charge of Operations, Mr Ade Shonubi, has advised business owners to prepare for the present and future of digital business environment using big data and tech. He said this at a maiden thought leadership colloquium organised by Greenwich Registrars & Data Solutions Limited, with the[...]

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Indigenous Automobile company talks assembling of solar cars in Nigeria by 2020

As Nigeria celebrates 59th Independence anniversary, an indigenous company says it is intensifying efforts to begin assembling of solar cars by 2020. Mr Moses Onaja, Chief Executive Officer, Sun Energy Community Development Initiative (SECODI), made the disclosure on Tuesday during an exhibition of solar products in Ibadan. The News Agency of Nigeria (NAN) reports that[...]

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CBN and other banks initiate N22billion Creative Scheme, Here’s Why

The Central Bank of Nigeria (CBN), has said the N22 billion creative industry intervention is aimed at consolidating positive results already recorded in the struggle to reposition the economy, following the 2014 oil price volatility and 2016 recession. The Creative Industries and Financing Initiative (CIFI), was scripted by CBN and the Bankers Committee, following their[...]

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