Awwal Ademola Blog

Delta State is located in the Southern region of Nigeria. It's capital is Asaba which is located at the northern region of the state. Delta State is known as an oil producing state contributing 21.56-35% of the nation's oil output. The oil producing local government areas in the state include Warri North and South, Ughelli North and South, Isoko North and South, Burutu, Sapele, Ethiope East and West, Okpe and Ndokwa East and West. It has refinery and a petrochemical plant located in Warri. The most populous and commercial centre of the state is Warri, and it is located at the Southern region of the state. Apart from oil production activities, the state is also engaged into agricultural activities like fishery, forestry, veterinary, planning and research. Agricultural programs in the state include Delta Agricultural Development Program (DADP), Task Force on Communal Planning, Fishermen Farm Settlement Scheme and Tree Crop Unit. The state also involves itself into man...

 Various researches conducted had shown that Nigeria produces about 2.5 million barrels of crude oil daily, and it is majorly derived from the Niger Delta regions in the country. The oil resources are generated from 7.5% of the country's land area. The following states are the major and top contributors to the oil production in Nigeria: 1. Akwa-Ibom: This state is among the Niger Delta regions in the country and it is located in the South-Southern area of the country. It makes up to 31.4% of the total oil produced daily. 2. Delta: It is the second largest oil producing state in the country. Also located in the South-Southern region and also the main location of the Niger Delta as the name implies. It production level is 21.56% of the total crude oil output. It has a refinery and a petrochemical plant in Warri. 3. Rivers: This state was once the largest producer of oil before Akwa Ibom took over. It is also located in the Niger Delta region and contributes 21.43% to ...

Rasaq Okoya is the founder and chairman of Eleganza Group, one of the largest conglomerates in Nigeria. And it is also a company that focuses on production of household items like cutleries, kitchen utensils, ballpoint pens, food warmers, ice chests, electric fans etc. Okoya was born in Lagos on 12th January, 2020 to the family of Tiamiyu Ayinde Okoya, a popular fashion designer. His father's fashion designing business gave him the experience and courage to venture into business activities because he helps his father in tailoring and sales of tailoring materials. He traveled out of the country to acquire manufacturing skills, and came to implement them in Nigeria. The result gave birth to his multi billion naira business which is Eleganza Group. And his factory has locations in Iganmu, Alaba, Isolo and Oregun-Ikeja. He also owns a real estate entity known as RAO Property Investment and he owns the Oluwa Ni Shola Estate around Lekki/Ajah expressway. He began the import...

The following are the business opportunities for small investors in the oil rich nation of Qatar: 1. Information Technology: This is really booming in the oil rich nation just like other nations around the world. It includes digital marketing, mobile wallet technology, content writing and delivery, networking etc. 2. Fashion Designing: This is also a good business especially for women entrepreneurs. You can engage in sowing of hijabs, veils and other forms of Arab clothing. The men can also engage in this kind of business as far as they are talented in sowing men's wears. 3. Halal Business: If you are a muslim, you can engage into selling of Islamic materials like Quran, praying mats, Islamic books etc. and also Islamic dresses for males and females. 4. Computer Repairs and Sales: Most households in Qatar makes use of computers and their accessories. And this is an opportunity for those who are talented in computer solutions and sales. 5. Corporate English Training an...

The Nigeria Social Insurance Trust Fund (NSITF) was established by the Act of Parliament in 1961, purposely to protect and compensate employees in the private  and public sectors against events such as occupational hazards, disability,  injuries in wo rkplaces, mental stress, occupational hazards and death. The scheme is purposely established to cater for the welfare needs and compensations of employees against unforeseen occurrences. Under the Provisions of the NSITF Act 1993, all employers of labor registered under the Companies and Allied Matters Act (CAMA) 1990, either as companies or partnerships, having a minimum number of 5 employees are required to register as members of NSITF and remit their contributions monthly. The monthly contribution is calculated as 1% of the employees'  monthly gross income which will cater for the social, insurance and welfare needs of the employees and also give them the opportunity of enjoying post employment benefits. In o...

The significance of the Finance Bill of 2020 presented to the National Assembly by President Muhammadu Buhari includes : 1. Increase in government revenue through the increase of the Value Added Tax (VAT) from 5% to 7.5%. 2. Introducing tax incentives for investment into infrastructure and capital markets. 3. Promote the ease of engaging in business activities especially by Micro, Small and Medium Enterprises (MSMEs). 4. Improving the domestic tax laws to align with the global best practice. 5. Promoting fiscal equity, especially in avoiding double taxation on Income generated by organizations. The finance bill made changes to different tax laws in Nigeria such as : 1. Increase in VAT from 5% to 7.5 %. 2. 0% Company Income Tax rate for small businesses and 20% for medium businesses. Therefore there is a bonus of 2% for companies that pay their taxes 90 days before the due date. This makes their tax percentage 18%. 3. Taxation of the digital econom...

On 8th October, 2019, President Muhammadu Buhari presented the estimates of the Nigerian budget for the year 2020 which amounted to a total of N10.33 trillion to the National Assembly. The following are the highlights and components of the budget: 1.  Non-Debt recurrent expenditure which was estimated to be N3.6 trillion for personnel and pension costs. The estimate showed an increase of N620. 28 billion over the 2019 buudget, in order to ensure the payment of the new minimum wage. And also the estimate was made to make provisions for increase in remunerations of the Police and Armed Forces. 2. To build and develop more cargo terminals in existing ports outside Lagos. 3. Increase of VAT from 5% to 7.5%. 4. VAT registration threshold amounting to over N25 million annual turnover. 5. Innovative borrowings such as Sukuk, Green Bonds and Diaspora Bonds. 6. Presentation of the two Petroleum Industry Executive Bills to the National Assembly. 7. Re-present the Deep Of...