10 Rules for Surviving the Recession

Nearly every business has felt an impact from the recession. There has been no escaping. The root causes were universal and had a domino effect. Some small-business owners believe they’ve seen the bottom and they are surviving — they are OK and they expect to persevere with modest adjustments. These small-business owners are kidding themselves. The bottom has not been reached, and it will be a long slide until it does. We are in for a five- to 10-year disaster. Defeat the Downturn  During such times, it’s easy to panic….

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Computer Village Traders Want Security Agents Called to Order

By Joshua Timi President of the Computer and Allied Products Dealers Association (CAPDAN), Comrade Ahmed Ojikutu has called on security agents to call their men to order for their continued ‘dehumanization’ of traders in the popular Computer Village market in Ikeja. An obviously enraged Ojikutu narrated the ordeal of a customer who purchased a computer keyboard from a trader in the market, but came back complaining of the malfunctioning of the item. He said an argument ensued between the customer and the trader, which led to the invitation of a…

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RECESSION: Punch, Leadership Newspapers Sack 100+ Journalists

The current economic crisis in the country has compelled media giants, Leadership and Punch newspapers to downsize their staff strength, Premium Times reports. Sources in Leadership Newspaper in Abuja and The Punch in Lagos revealed that the media outfits recently laid off over a hundred journalists between them, citing rising cost of operation amidst a general economic downturn. Sources in The Punch said the paper, one of the largest employers in the industry, cut between 30 to 40 jobs within the past week. A management source who confirmed the development…

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Lagos Plans More Housing Schemes, Flexible Payment

In a bid to cushion the effects of economic recession in the country, the Lagos State Government has perfected plans to introduce monthly payment plan on its Home Ownership Mortgage Schemes popularly called Lagos HOMS across the State. The State Governor, Mr. Akinwunmi Ambode, who stated this after embarking on an extensive inspection tour of projects across the State, said his administration has decided to scale up the rent-to-own policy by introducing monthly payment plan whereby people can pay monthly instead of being compelled to make a down payment of…

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Lagos Plans to Boost Rice Production

By Joshua Timi The Special Adviser to Lagos State Governor on Food Security, Hon.Ganiu Okanlawon Sanni has hinted that Lagos Rice production will jerk up to 200,000metric tonnes by 2017. He made the assertion while fielding questions posed by newsmen at a press briefing, organized by the Lagos state government Ministry of Agriculture on the proposed ‘Food security summit’, Theme:Actualising sustainable Food Security in Lagos: A New Comprehensive Agenda. The summit proposed to hold from10th to11th November,2016 is set to realign emerging realities with new global trends on food safety,…

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FREE TRADE ZONE: Ambode Approves Compensation for Lekki Communities

The Lagos State Governor, Mr. Akinwunmi Ambode has approved the sum of N730,461,043 of all outstanding compensation to Lekki free trade zone communities, including Yeguda and Abomiti. This much was declared during a press briefing in Ikeja by the Honourable Commissioner for Commerce and Co-operatives, Rotimi Ogunleye. He said: “Before these parcels of land were acquired, they were being used for farming mostly by various families within those projects sites. “With the acquisition, there is bound to be compensation of the land-owning families after a comprehensive enumeration and valuation,” Ogunleye…

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Jubilations as Ambode Declares Lagos’ Discovery of Oil

It is official. Lagos is now an oil producing state! The State Governor, Mr. Akinwunmi Ambode on Monday made the declaration after a company, -Tunde Folawiyo Petroleum Company Limited discovered crude oil in Badagry, Lagos. Governor Ambode who made the declaration when the management of the company led by the Group Managing Director, Mr. Tunde Folawiyo paid him a courtesy visit at the Lagos House, Ikeja, commended the firm for their doggedness to achieve the feat after 25 years of hard work, saying that by the provision of Section 162…

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Ambode Commissions 70,000 Capacity Motorbikes Assembly Plant

…SAYS LAGOS REMAINS MOST ATTRACTIVE INVESTMENT DESTINATION IN AFRICA   Lagos State Governor, Mr. Akinwunmi Ambode on Friday emphasised the leadership status of the State as the most attractive location financially and socially for investment in Africa, just as he reiterated the commitment of his administration towards putting in place policies to attract investment and facilitate conducive atmosphere for businesses to thrive. Governor Ambode, who spoke in Lagos at the grand opening of CFAO Yamaha Showroom and Assembly Plant, said with a population in excess of 21 million, a significant proportion of which comprises of the midclass with strong purchasing powers, he was convinced that the State has what every investor desires in investing in any city. He said aside the fact that Lagos accounts for 60 per cent of Nigeria’s industrial capacity, the State also attracts between 70 to 80 per cent of $6bn annual Foreign Direct Investment (DFI) into Nigeria, adding that measures are being taken to increase the figure by 50 per cent. The Governor lauded the collaboration between CFAO of France and Yamaha of Japan to bring about the joint venture in Lagos Nigeria, saying the partnership was good news for Lagos economy and a boost to the efforts of his administration in bringing investment to the State. “The significance of locating this Assembly Plant in Lagos is very clear. Lagos remains the most attractive location financially and socially for investment in Africa. I have come to assure you that you have made the right decision to locate your business here,” he said. He said the take off of the CFAO Yamaha Plant in Lagos brings the number of assembly plants located in Lagos to over 10, adding that the State still has the capacity to accommodate more plants. Besides, Governor Ambode recalled how his administration, upon inception, prioritized the issue of making Lagos the first choice destination for foreign investment. While stating that the State is open for business and serious investors, Governor Ambode assured investors and would-be investors that government would continue to invest in security, job opportunity and infrastructure which are the tripod upon which his administration was built.   He said: “We will therefore continue to invest in the critical infrastructure and security to guaranty safety and good return on investment. As a government, we will continue to explore ways to create an enabling environment to make your business thrive. We are committed to introducing new incentives for businesses in Lagos to enable them grow, support the society and take more of our youths off the street.   “The ease of doing business is of concern to us and as a result, we are working to improve the indices of doing business in Lagos while we continue in our commitment to carry out judicial and security sector reforms.”   Earlier, Chairman of CFAO Yamaha Motor Nigeria Limited, Mr. Gbenga Oyebode thanked Governor Ambode for making out time not only to personally attend the event, but also arriving on time, saying the development was an eloquent testimony of the Governor’s commitment to encourage investment in the State.   Also, Managing Director of the company, Mr. Olivier Levigne said the vision of the firm is to be the grand company and a great organisation that is an open enterprise and a leader in its chosen field.   The CFAO Yamaha Showroom and Assembly Plant has the capacity to produce 70, 000 Motorbikes annually.

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Work to Commence on New Mile 12 Market Next Week- Ambode

Says Eko Rice will be ready in six months Assures on delivery Of Agbowa Sawmill by September   Lagos State Governor, Mr. Akinwunmi Ambode on Tuesday inspected the new Imota site, proposed for the relocation of the popular Mile 12 Market, where he assured that work will commence on the site next week. The Governor who was accompanied on the inspection visit by top officials of the Ministry of Physical Planning and Urban Development and members of the State Executive Council said the relocation of the market became necessary following…

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