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Tony Elumelu Foundation commits $100m to African Entrepreneurs

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In his recent article in the Economist, Tony Elumelu declared that, “In 
2015, the African entrepreneur will explode on to the global stage, as a
 new generation shows the world what those of us doing business in 
Africa have long known: that our continent is home to some of the most 
exciting and innovative entrepreneurial talent.”<br />
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At 11:00am, during a major press conference at Heirs Place today 
December 1sr, Mr. Elumelu announced the launch of The Tony Elumelu 
Foundation Entrepreneurship Programme (TEEP).

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<span style="font-size: x-small;"><span style="font-family: inherit;">TEEP
 is the flagship entrepreneurship programme of the Tony Elumelu 
Foundation, with the aim to create 10,000 businesses that span the 
continent, generating 1,000,000 new jobs and contributing at least $10 
billion in annual revenue to the African economy.</span></span></div>
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<span style="font-size: x-small;"><span style="font-family: inherit;">It 
is backed by $100,000,000 and a commitment to giving start-ups and 
entrepreneurs with a dream the funds, the mentorship, and the network, 
to become the next generation of global business titans from Africa.</span></span></div>
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<span style="font-size: x-small;"><span style="font-family: inherit;">The 
1,000 start-ups selected from the tens of thousands of applicants across
 the continent will participate in a comprehensive programme designed to
 equip them to build successful value adding businesses. The programme 
includes seed capital funding, a customized 12-week business skills 
training course, mentoring, an entrepreneurship ‘boot camp,’ 
participation in the annual Elumelu Entrepreneurship Forum, membership 
in the TEEP Alumni Network and much more.</span></span></div>
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<span style="font-size: x-small;"><span style="font-family: inherit;">More
 details about the program, including eligibility and the application 
and selection processes are available on the website at: <a href="http://www.tonyelumelufoundation.org/TEEP" target="_blank">www.tonyelumelufoundation.org/<wbr></wbr>TEEP</a>.</span></span></div>
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<span style="font-size: x-small;"><span style="font-family: inherit;">Encourage
 your friends and family to apply and tell your networks about this 
exceptional opportunity. Follow @TonyElumeluFDN for more information on 
the process and the program and use #AfricanEntrepreneurs to join the 
conversation.</span></span></div>

Tony Elumelu Foundation commits $100m to African Entrepreneurs

In his recent article in the Economist, Tony Elumelu declared that, “In 2015, the African entrepreneur will explode on to the global ...

18:21

BISHOP OYEDEPO READY TO PAY 399 MILLION ANNUAL TAX FOR USING HIS 4 PRIVATE JETS........SEE FULL LIST OF PAYERS

<p dir="ltr">Bishop David Oyedepo, Alhaji Aliko Dangote and<br>
Dr. Mike Adenuga are among the top 10 wealthy Nigerians who<br>
will shell out hundreds of millions annually as luxury tax due to<br>
the imposition of a whooping $4,000 luxury tax by Aviation<br>
Ministry on private jet owners and operators per departure.</p>
<p dir="ltr">Information available to ENCOMIUM Weekly state that most of<br>
these super rich Nigerians make use of their toys at last thrice<br>
in a week either within or outside Nigeria. Some of them use<br>
them five times in a week.Those who have more than one are<br>
mostly affected.</p>
<p dir="ltr">According to our sources, among the four jets owned by Bishop<br>
Oyedepo (Gulfstream V and G550, Bombardier and Gulfstream<br>
G430), he uses three regularly personally and for his missionary<br>
work. Thus, his luxury tax annually will be an average of N399<br>
million. Alhaji Aliko Dangote who has three private jets in his<br>
hanger will also pay an average of N399 million per annum. Dr.<br>
Mike Adenuga, Jnr, whose Falcon 7x and Bombardier jet are<br>
used for personal and business purpose should pay an average<br>
of N266 million.</p>
<p dir="ltr">Governor Rotimi Amaechi and his Akwa Ibom counterpart,<br>
Governor Godswill Akpabio would shell out an average of<br>
N166.4 million annually. Pastor Ayo Oritsejafor falls into the<br>
same category of N166.4 million naira payer. Meanwhile, Pastor<br>
Enoch Adejare Adeboye, Jide Omokorie and Ifeanyi Ubah would<br>
pay an average of N133 million annually, while Jimoh Ibrahim<br>
falls within the N100 million category. Furthermore, the richest<br>
woman in Nigeria, Folorunsho Alakija would spend N66 million<br>
on luxury tax.</p>
<p dir="ltr">Findings by ENCOMIUM Weekly revealed that the top 10 private<br>
jet owners who would cough millions annually on the new<br>
luxury tax are below.</p>
<p dir="ltr">The clash of the titans between the Federal Government and<br>
private jet owners reached a crescendo with the imposition of<br>
the $4,000 luxury tax on private jet owners and operators per<br>
departure. A memo was sent to all private jet operators stating<br>
that Nigerian registered private jets would henceforth pay<br>
$3,000 for every departure, while foreign registered private jets<br>
would pay $4,000.</p>
<p dir="ltr">+ List of top 10 payers<br>
NAME NO. OF JETS LUXURY TAX ANNUALLY<br>
1 Bishop Oyedepo 4 N399 million<br>
2 Alhaji Dangote 3 N399m<br>
3 Dr. Mike Adenuga 2 N266m<br>
4 Gov. Rotimi Amaechi 1 N166m<br>
5 Gov. Godswill Akpabio 1 N166m<br>
6 Ayo Oritsejafor 1 N166m<br>
7 Pastor Adeboye 1 N133m<br>
8 Jide Omokore 1 N133m<br>
9 Ifeanyi Ubah 1 N133m<br>
10 Jimoh Ibrahim 1 N100m</p>
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BISHOP OYEDEPO READY TO PAY 399 MILLION ANNUAL TAX FOR USING HIS 4 PRIVATE JETS........SEE FULL LIST OF PAYERS

Bishop David Oyedepo, Alhaji Aliko Dangote and Dr. Mike Adenuga are among the top 10 wealthy Nigerians who will shell out hundreds of mill...

08:58

FG, States Debt Skyrockets To N10.84trn

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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEix4OfeUhu4K7mT_vATTy0Z1m3SOnFZ3slF7Ca4h4htjQ-dtv7mMs1ZY7dD77zCfAYQs4Uqn4IjgxzyS2C5ooB5i4oUGQve8XO7YgcZwJdz6Y5HX9we5R1GvI8zfjz1In8mLzmjoDF8XLI/s1600/download.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEix4OfeUhu4K7mT_vATTy0Z1m3SOnFZ3slF7Ca4h4htjQ-dtv7mMs1ZY7dD77zCfAYQs4Uqn4IjgxzyS2C5ooB5i4oUGQve8XO7YgcZwJdz6Y5HX9we5R1GvI8zfjz1In8mLzmjoDF8XLI/s1600/download.jpg" /></a></div>
The total debt of the Federal Government and the 36 states of the 
federation as well as the Federal Capital Territory now stands at 
N10.84trn, the Debt Management Office has said.<br /><br />Statistics 
obtained from the DMO in Abuja on Monday showed that the total debt as 
of September 30 is higher than the total debt of the country as of 
September 30, 2013 by 30.29 per cent.<br />As of September 30, 2013, the 
total debt of the three tiers of government stood at N8.32trn. This, 
however, excluded the domestic debt of the states which was included in 
the current debt status of the country.<br /><br />Details of the current 
debt status of the country showed that the external debts of both the 
Federal and state government stood at $9.52bn or N1.48trn.<br /><br />As of 
September 30, the domestic debt stock of the Federal Government alone 
stood at $49.12bn or N7.65trn. The domestic debt of states, on the other
 hand, stood at $10.97bn or N1.71trn.<br /><br />In comparison, the external
 debt of both the federal and state governments stood at N1.28trn (or 
$8.26bn) as of September 30, 2023. Also, the domestic debt of the 
Federal Government a year ago stood at N7.03trn.<br /><br />Dissecting the 
Federal Government’s current domestic debt of N7.65trn by instruments, 
the Federal Government Bond contributed N4.6trn or 60.12 per cent to the
 profile; Nigerian Treasury Bills contributed N2.74trn or 35.76 per cent
 while Treasury Bonds contributed N315.39bn or 4.12 per cent.<br /><br />As of June 2014, out of a total external debt of $3.01bn owed by the states, the Lagos State Government owed $1.02bn.<br /><br />Other
 major holders of the country’s external sub-national debts included 
Kaduna State which owes $245.51m and Cross Rivers State, $120.21m. 
Others are Ogun State, $116.69m; Bauchi State, $111.61m; and Oyo State, 
$80.11m.<br /><br />The states least exposed to foreign debts included 
Borno, $16.07m; Plateau, $22.99m; Taraba, $24.06m; Delta, $24.7m and 
Benue, $28.79m.<br /><br />However, in comparison to the nation’s total 
external indebtedness, the states owed only 32.13 per cent; leaving the 
Federal Government with 67.87 per cent. <br /><br />Loans from China Export 
Import Bank and monies raised from Eurobond accounted for $2.54bn of the
 Federal Government’s $6.36bn external debt while multilateral sources 
accounted for $3.82bn.<br /><br />As of June 2013, the nation’s total 
external loan stood at $6.92bn. This means that over a period of one 
year, the country’s external debt rose by $2.46bn showing 35.51 per cent
 increase.<br /><br />The growth of the nation’s debt stock can be seen in 
the budget for debt servicing. The Federal Government plans to spend 
N2.08tn servicing the country’s debt within the next three years.<br /><br />The
 figures for debt servicing as well as the county’s debt stock are 
contained in the Medium Term Expenditure Framework and Fiscal Strategy 
Paper of the Federal Government.<br /><br />The document stated that while 
N591.76bn was utilised in servicing the nation’s debt in 2013, the sum 
of N712bn, N684bn and N684bn would be used for the 2014, 2015 and 2016 
fiscal periods respectively.

FG, States Debt Skyrockets To N10.84trn

The total debt of the Federal Government and the 36 states of the federation as well as the Federal Capital Territory now stands at N10....

23:58

Richest persons list: Dangote slides to 37th in 24 hours

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<img alt="President, Dangote Group, Alhaji Aliko Dangote" class="attachment-bigstoryimage" height="270" src="http://punch.cdn.ng/wp-content/uploads/2011/12/Aliko-Dangote-360x270.jpg" width="360"><div class="featured-image-caption">
President, Dangote Group, Alhaji Aliko Dangote</div>
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<ins class="adsbygoogle" data-ad-client="ca-pub-7167863529667065" data-ad-slot="6184555097" data-adsbygoogle-status="done" style="display: inline-block; height: 140px; width: 370px;"><ins id="aswift_0_expand" style="background-color: transparent; border: none; display: inline-table; height: 140px; margin: 0; padding: 0; position: relative; visibility: visible; width: 370px;"><ins id="aswift_0_anchor" style="background-color: transparent; border: none; display: block; height: 140px; margin: 0; padding: 0; position: relative; visibility: visible; width: 370px;"></ins></ins></ins> </div>
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Billionaire business mogul, Aliko Dangote, slid down 14 places to 37<sup>th</sup> position in the World Richest Persons list within 24 hours.</div>
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Dangote, the President, Dangote Group, who remains Africa’s richest person, was ranked 23<sup>rd</sup> on Thursday by Forbes.</div>
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A
 check on Forbes website on Friday, however, revealed that the business 
mogul, who is said to be worth about $21bn, is now ranked 37<sup>th</sup> richest person.Continue..</div>

Richest persons list: Dangote slides to 37th in 24 hours

President, Dangote Group, Alhaji Aliko Dangote Billionaire business mogul, Aliko Dangote, slid down 14 places to 37 th position ...