Business

Sterling Bank, EAS To Grow FX Earnings For Nigerian SMEs.

Published

10 months ago

March 4, 2024

Sterling Bank, EAS To Grow FX Earnings For Nigerian SMEs.

Sterling Bank Ltd., Nigeria’s leading commercial bank, has proudly announced a strategic partnership with Export And Sell Nigeria Limited (EAS), a leading international trade consultancy, to organize the “Export to Wealth” conference. This ground-breaking initiative which is being held between 6th – 7th of March 2024, aims to empower at least 2,000 export-ready businesses by providing practical tools and resources for successful sales on international retailing platforms.

The collaboration between Sterling Bank and Export and Sell Nigeria Limited represents another milestone in the lender’s continuing commitment to fostering economic growth and Nigerian empowering businesses of all sizes to thrive in the global market. Leveraging their expertise, both organizations will combine forces to create an impactful event that equips entrepreneurs with the skills and knowledge necessary to navigate the intricacies of international trade.

The “Export to Wealth” conference will feature workshops and networking opportunities to guide businesses through the export process. Attendees will gain insights into market trends, e-commerce strategies, and regulatory compliance, with a granular emphasis on accessing the United States market.

Mustapha Otaru, Chief Product Officer at Sterling Bank, expressed enthusiasm about the partnership, stating, “We are excited to collaborate with Export and Sell Nigeria Limited to bring the ‘Export to Wealth’ conference to fruition. This initiative aligns with our commitment to supporting local businesses and fostering economic development. By providing practical solutions and facilitating market access, we aim to empower businesses to scale and succeed globally.”

Speaking on the forthcoming event, Chairman and Chief Executive Officer of Export And Sell, Nduka Udeh, said that “the seminar will train Nigerian businesses with exportable products to identify opportunities in international markets for their products, label and package their goods to the best international standards with aim of earning FX via exports.”

Export and Sell Nigeria Limited brings a wealth of experience in international trade and e-commerce, making it a valuable partner for Sterling Bank. Together, they aspire to contribute to the growth of Nigeria’s export sector and position businesses for success on the global stage.

Businesses interested in participating can register on the official event website, sterling.ng/global.

The forthcoming event reinforces Sterling Bank’s commitment to the growth of small and medium scaled enterprises in Nigeria, as the bank recently signed an agreement with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to disburse N 5 billion in capital to businesses, at a single digit interest rate, to stimulate sustainable growth in the real sector of the Nigerian economy.

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Business

Dangote Hails Tinubu on Impact of Crude for Naira Swap Deal

Published

16 hours ago

December 21, 2024

Sahara Weekly

Dangote Hails Tinubu on Impact of Crude for Naira Swap Deal

…As Dangote Refinery partners MRS to sell PMS at N935 per litre nationwide at its retail outlets

Sahara Weekly Unveils That The Foremost entrepreneur and President of the Dangote Industries Limited, Aliko Dangote has commended President Bola Ahmed Tinubu for the positive impact of the naira for crude swap deal on the Nigerian economy, which has led to reduction in prices of petroleum products in the country.

To provide succour to Nigerians, Dangote recently reduced the price of Premium Motor Spirit (PMS) from N970 to N899.50 at its Refinery loading gantry and provided generous credit terms to marketers.

“To ensure that this price reduction gets to the end consumer, we have signed a partnership with MRS to sell petrol from its retail outlets nationwide at N935 per litre” he added. This price has already commenced in Lagos, and it will be offered nationwide from Monday.

In his statement, he called on other oil marketers such as the NNPC Retail and all other marketers, “to work with us to ensure that Nigerians enjoy high-quality petrol at discounted prices.”

According to him, “The Dangote Refinery is for the benefit of Nigeria and Nigerians. We will therefore continue to work with various value chain players to deliver high quality petrol at cheaper prices. Our aim is for all Nigerians to have ready access to high quality petroleum products that are good for their vehicles, good for their health, and good for their pockets.

Recall that in September, the Federal Executive Council (FEC) under the leadership of Mr. President approved the sale of crude to local refineries in Naira and corresponding purchase of petroleum products in Naira. The move, which commenced on October 1, led to reduced pressure on the dollar and ensured the stability of the local currency.

Dangote thanked Nigerians for their unwavering support and the government for creating an enabling environment for the domestic refining industry.

Business

Port Harcourt Refinery Stays Active: NNPC Denounces Sabotage Rumors

Published

23 hours ago

December 21, 2024

Sahara Weekly

Port Harcourt Refinery Stays Active: NNPC Denounces Sabotage Rumors

NNPC Debunks Shutdown Rumors, Confirms Port Harcourt Refinery Fully Operational

The Nigerian National Petroleum Company Limited (NNPC Ltd) has dismissed reports circulating in certain media outlets claiming that the Old Port Harcourt Refinery, which was re-streamed two months ago, has been shut down.

In a statement released by Olufemi O. Soneye, the Chief Corporate Communications Officer of NNPC Ltd, the company clarified that the refinery is fully operational. The statement noted that the facility’s operational status was recently verified by former Group Managing Directors of NNPC during a site inspection.

“Preparation for the day’s loading operation is currently ongoing,” the statement confirmed, emphasizing that allegations of the refinery’s shutdown are baseless and intended to create panic or artificial scarcity in the fuel market.

NNPC Ltd urged members of the public to disregard such misleading reports, labeling them as the work of those seeking to exploit Nigerians.

The Old Port Harcourt Refinery has been in operation since its re-streaming, and the company remains committed to ensuring stability in the supply of petroleum products across the country.

Business

Nigerian Banks Donate Multimillion Naira Relief Materials to Jigawa Flood Victims

Published

2 days ago

December 20, 2024

Sahara Weekly

Nigerian Banks Donate Multimillion Naira Relief Materials to Jigawa Flood Victims

In a show of solidarity, the Committee of Banks in Nigeria has extended a helping hand to victims of the September 2024 floods in Jigawa State. On Thursday, a high-profile delegation led by Dr. Oliver Alawuba, Chairman of the Committee and Group Managing Director/Chief Executive Officer of United Bank for Africa Plc (UBA), visited Dutse, the state capital, to present relief materials to the state government.

The donated items, worth several million Naira, included essential food supplies such as rice and cooking oil, along with mattresses and beverages. Dr. Alawuba highlighted that the gesture aimed to alleviate the hardship faced by flood victims and support critical institutions, especially public hospitals, in their efforts to assist those affected.

“We stand in solidarity with the people and government of Jigawa State during this difficult time. This donation is our way of expressing empathy and supporting those who have lost loved ones, properties, and livelihoods,” Dr. Alawuba stated.

The delegation included notable banking leaders such as Mr. Roosevelt Ogbonna of Access Bank Plc, Dame (Dr.) Adaora Umeoji of Zenith Bank Plc, and Dr. (Mrs.) Nneka Onyeali-Ikpe of Fidelity Bank Plc, among others. Their collective presence underscored the banking sector’s commitment to corporate social responsibility and national development.

Governor Malam Umar A. Namadi expressed profound gratitude for the donation, describing the visit as a rare and commendable act of compassion. He assured the delegation that the relief materials would be judiciously distributed to the intended beneficiaries, emphasizing the importance of partnerships in rebuilding lives and communities.

The Committee of Banks also reiterated their commitment to supporting Nigerians during emergencies, drawing attention to previous interventions, including relief efforts during the 2011 and 2013 floods, the COVID-19 pandemic, and security initiatives like the Lagos State Security Trust Fund.

This humanitarian gesture reflects the collective resolve of Nigeria’s financial institutions to foster social and economic growth, making a meaningful impact in times of need.