BUSINESS NEWS & TIPS

In the Quinquagenary , Nigeria has been dependent on its oil resources, which unarguably have brought great wealth to selected few in the country. The oil resources however brought along with it redundancy to Nigerians in exploring other available resources. Nevertheless, as Nigeria’s economic changes, its economic structure diversifies to overcome its dependency on oil. This shift has led to the emergency of a new generation of entrepreneurs in Nigeria. People, who can identify business opportunities in Nigeria, know that the oil industry is not the only business that is highly profitable. Some businesses have been identified to be highly profitable yielding millions of naira. Some of these businesses are listed below ; 1.     Rice Farming –  This is a fast rising business now in Nigeria, as part of the economic diversification strategy in Nigeria, Nigerians are beginning to go back to farming which was further encouraged by the ban of rice importation into Nigeria.  It is the mos

The  Presidential Ease of Doing Business panel  has reduced the number of days required for registration of new businesses in Nigeria from 10 to two days.  The panel also approved 24-hour time-line for companies registration from when application form was completed, submitted and all required documents made available. The report was presented by Dr Jumoke Oduwole, Senior Special Assistant to the President on Trade and Investment and came as reforms targeting the end of the 60-day Action Plan on Ease of Doing Business in Nigeria. According to the  recommendations prospective business owners can now search on Corporate Affairs Commission (CAC) portal   (www.cac.gov.ng) to avoid duplic ation of names and prevent selection of prohibited names. I t is now optional for SMEs to hire lawyers