UNIZIK buys many cars from Innoson

Nnamdi Azikiwe University, UNIZIK, has bought many cars from Innoson, the Nnewi-based car maker.

This will help create jobs and boost the economy.

Economy International Business News

Crude Oil: Innoson Takes On Shell

Innoson Oil and Gas has won 9 crude oil blocks in Sierra Leone – a coup in a sector normally dominated by such oil giants like Shell BP. The oil blocks are based in the South, near Sierra Leone’s border with Liberia.

Also read the Igbo translation: Mmanụ Ugbọ: Innoson Nke Nnewi Chọrọ Inapuzi Shell BP Okpu Eze Ha

Innoson won in a keenly contested licencing round. She competed against 6 other companies. Reports from Energy Voice state that Innoson won crude oil Blocks 96, 97, 114, 115, 116, 117, 133, 134 and 135. Another company, Cluff Energy won Blocks 23, 24, 25, 36, 37, 38, 39, 54, 55, 56, 57, 74, 75, 94 and 95.

Also Read: Despite Opposition From Governments, Facebook Goes Ahead With Libra Cryptocurrency

This development signals Innoson Group’s big entry into oil. Innoson is known more for vehicle manufacturing. Before that, they pioneered an innovative way of assembling motorbikes in Nigeria called CKD. CKD means Completely Knocked Down goods.

With Innoson’s record of excellence, it will not be surprising if it begins giving the Shells and Totals of this world a run for their money very soon.

Innoson recently expanded its car manufacturing operations with another plant in Nnewi. The Igwe of Nnewi was present.The foray into crude oil in Sierra Leone may be strategic. There are speculations that Innoson might be about to build an affordable car model for the West African country.

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Business Economy

4 Reasons Nigeria Is Great for Business

Nigeria is a unique country. There is no other country quite like Nigeria. Here are 5 reasons why Nigeria is good for business.

  1. Nigeria has the largest concentration of people in Africa. I mean, just look at the sheer economics of it. 180 million people in one country. If you sold one thing for 180 million Nigerians at $1, you’d be a millionaire. By 2050, it estimated Nigeria would have risen to 300 million. Why not dig your economic well before you get thirsty?
  2. Nigerians like spending big. Nigerians are natural big spenders. Forget that the oil price crash has dampened things a bit. (Ask Harrods Hypermarket.) But if the economy bounces back, you’ll see the spending power of Nigerians at its best.
  3. Lots of untapped mineral resources lie under Nigeria’s ground. If you can get a license to mine it, you’ll have cornered your own pot of gold.
  4. Resourceful people. Nigerians are very resourceful. In the United States for instance, Nigerians are known as the most successful immigrants. All Nigerians really need is the right atmosphere to succeed. Perhaps your company can help. Can you profitably bring in some good organizational culture that would drive productivity and innovation in its own small way?

Are Collapsed Oil Prices About To Make Nigerians Even Poorer?

I read this analysis about what the collapse of the crude oil might mean to Nigeria. And I must tell you; it is scary. Read it because to be forewarned is to be forearmed.

Economy Health Politics

Coronavirus: Madagascar’s Remedy Boosts Equatorial Guinea Recovery By 44% In 5 Days (Photo)

Just the other day we got you news that Equatorial Guinea sent a minister to get Covid Organics cure from Madagascar.

Equatorial Guinea is already smiling for that early step. Covid Organics herbal tea has already boosted the recovery rate in the courageous country by 44%. That is from 9 to 13 recoveries in 5 days.


Meanwhile Nigeria that is yet to make a significant move to get the anti-coronavirus beverage, we are seeing an alarming rise in infections and deaths.

Lagos Nigeria’s economic capital, which doubles as the 4th largest economy in Africa, got 176 new infections just yesterday.

(This steep rise in Lagos cases is a far cry from the low infection rates when the index case was still around…what changed?)

If just N500 million of the N10 billion the Nigerian Federal Government sent to Lagos for its noticeable efforts to fight coronavirus is used to import the Covid Organics cure from Madagascar, I think we will not just start seeing an increased recovery rate. We will also start seeing a decreased infection rate.