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Informal, agric sectors set to drive bank revenues in Nigeria, other emerging markets

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Over the next five years, banking revenues from micro-, small-, and medium-sized enterprises (MSMEs) in Nigeria and other emerging markets will grow 20 percent per annum, from $150 billion (N23.7trn) to $367 billion (N57.9trn), with the agric and informal sectors accounting for a significant share of the growth, a McKinsey report shows.

Passion, a potent driving force for entrepreneurship

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Why are the richest men in the world still working? The answer is: We cannot pursue more than we see! Passion is it! Bill Gates will be a good case study in this regard. In his junior year, Gates left Harvard (a university many will give up all they own to attend) to devote his energies to Microsoft, a company he had begun in 1975, with his childhood friend Paul Allen. Very critical to this survey was a statement quoted on the Bill Gates’ Web Site/Biography of Bill Gates: “Guided by a belief that the computer would be a valuable tool on Every Office Desktop and In Every Home, they began developing software for personal computers.

Titus and Tobias Igwe: Delivering speedy food service

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Consumption patterns normally contribute greatly to the social and economic policy of the country. In developing countries like Nigeria, the consumption pattern is skewed towards food i.e. food accounts for a higher proportion of the total expenditure, the reason food businesses have become common and important features of urban towns in the country. Apart from providing incomes for those involved, they are a ready source of food for the urban population.

US trade barrier forces Nigeria’s palm oil business into reverse gear

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The big opportunity for Nigeria and other developing countries to reap the benefits of the ongoing robust global development for biofuels has suffered a setback.

Bad things small enterprises do

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The Nigerian economy, like the economies of many other developing economies, is largely an informal economy. Small businesses loom large in Nigeria. Businesses you find in places like the Alaba International Market, Lagos International Trade Fair Complex, Otigba Village, otherwise known as Computer Village, all in Lagos, are small businesses.

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