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PERFECTION Motors Company Limited in collaboration with a Chinese automaker, FAW, is targeting to produce 1000 vehicles in Nigeria yearly from its Semi Knock Down (SKD) auto assembly plant in Lagos. Unveiling the new showroom, workshop and SKD auto plant in Lagos, the General Manager of Perfection Motors Company Limited, Adrian Fourie said: “In view of the fact that we will outgrow this assembly line in the next three years, we will be breaking ground on the future Complete Knock Down (CKD) assembly plant in Ogiju, with construction starting later this year”. According to him, Perfection Motors Company Limited is a member of the Lee group in Nigeria is positioning to provide “first class sales, after-sales and spare parts”. “FAW being one of China’s biggest and most prestigious heavy duty vehicles manufacturers is regarded as the number one selling heavy duty vehicle in China. Partnering with FAW has given us as a group the confidence to invest. As you know, we are bringing a qu

The Japanese electronics multinational Kyocera has begun work on what it says will be the world’s biggest floating solar farm. The power plant is being built on a reservoir in Japan’s Chiba prefecture and is anticipated to supply enough electricity for nearly 5,000 households when it is completed in early 2018. Space-starved Japan has already seen several floating solar farms built as part of the country’s drive to exploit more renewable energy in the wake of the 2011 Fukushima disaster. The shutdown of nuclear plants has seen Japan increasingly reliant on fossil fuel imports that have hit its emissions-cutting ambitions. The Yamakura dam power plant will see more than 50,000 solar photovoltaic panels cover a 180,000 m sq area, but compared to other land-based plants it is relatively small. At 13.7MW when finished, it would not make the top 100 of the world’s largest solar photovoltaic farms. In the UK, water company United Utilities started work on a floating solar

The contemporary startup garage is often the founder’s living room, a friend’s spare desk or a coffee shop with reliable WiFi. As cozy and cash-efficient as these setups can be, in time -- and with revenue or a successful fundraising -- your growing team needs a legit space. For a growing team, securing an office has traditionally required signing a multi-year lease -- often with extra room secured up front to accommodate future growth. In other words, it's a long-term cash commitment for more than what you need now. I’ve been there. During my first stint as a CEO nearly 16 years ago, I recall how uncomfortable it felt to have to guess whether we’d need space for 50 or 500 people three years down the road. Entrepreneurs today are fortunate to have more options and flexibility than ever before in securing professional office space. The commercial real-estate industry is undergoing a dramatic transformation, offering new solutions that better fit the needs of fast-growing comp

By Brandon Turner. Sometimes a team can accomplish far more than a group of lone individuals. For example, cyclists in the Tour de France take turns riding at the front of their group, decreasing the wind for those behind them. Wolves hunt in packs to take down animals 20 times their size. And for those of us who were children of the '90s, we all remember Ducks Fly Together. This brings up another team that can accomplish amazing things -- not a team of people, but a team of benefits which, when combined, can help you achieve your greatest financial goals. Specifically, I want to talk about real estate. I’m a real estate investor, and I firmly believe that real estate is the best traditional investment on Planet Earth today. However, just because you buy a piece of real estate doesn't mean you're going to make money. As I explain in The Book on Rental Property Investing, big wealth is built through real estate investing by capitalizing on something I c

WITH world’s ultra high net worth population growing, and real estate playing unique role of an investment opportunity, a new report forecasts that the ongoing shift in the wealth creation cycle from the West, and the growing significance of inter-generational wealth transfers will have significant consequences on the luxury residential real estate market, especially on new developments and a change in investment grade cities such as Lagos. The Wealth-X and Sotheby’s International Realty Global Luxury Residential Real Estate Report reveals that the future of luxury residential real estate looks highly promising and positive, with its tendency to gain in value faster than traditional real estate and its greater appeal to ultra high net worth (UHNW) individuals with inherited wealth as well as its reputation as a safe asset. Essentially, luxury residential real estate is set to see more and more growth in demand, for example, with the anticipated fast growth in UHNW wealth and o

THE Federal authorities have gone back to the drawing board to fashion out new ways to ensure sustainable public private partnership in infrastructure provision, especially in road concessions. Under the new development, the Ministry of Power, Works and Housing has commenced an internal review of some laws and the Federal Highways Act, with a view to making recommendations to the Ministry of Justice to consider and effect some changes. Minister of Power, Works and Housing, Babatunde Raji Fashola, who made the disclosure at the Nigerian Pension Industry Strategy Implementation Roadmap Retreat, last week, said the legal regime for regulation of privatization of public assets needs some reform. He said: “As far as privatization and concession of public assets is concerned, it will require the immense skills of very experienced legal practitioners to carefully navigate through the provision of at least five general laws in order to be able to give sound advice to any investo

“Now where?” That’s a question many founders ask themselves after they prove their concepts and discover they need more space than their garages, basements or living rooms have to offer. Choosing the location of your growing startup’s headquarters isn’t an easy task -- and in today’s real estate market, deciding whether to buy or rent can be equally difficult. In 2015, 2.45 million jobs were created; as a result, growing businesses across the nation are searching for new digs. This has resulted in a competitive market.  According to a recent National Association of Realtors report, the demand for commercial office space continues to trend upward while supply struggles to keep pace. Evaluating the pros and cons of renting and buying before making such a major financial decision is vital. Here are a few things to keep in mind: Down payments vs. deposits. Buying is a long-term commitment. It requires a hefty down payment that can range from 20 to 25 percent and is

The Nigeria Extractive Industries Transparency Initiative (NEITI) has disclosed that the Solid Minerals sector requires a robust fiscal regime built on comprehensive reform to expand the revenue generation base for the nation. The Acting Executive Secretary, NEITI, Orji Ogbonnaya Orji, who stated this during a courtesy visit to Minister of Solid Minerals Development, Kayode Fayemi, called on the ministry to commence a comprehensive programme for the mining industry in the phase of the collapse of oil prices. Orji explained that from the scoping study conducted and series of independent oil reports by NEITI, the solid minerals sector had contributed poorly to national purse in recent years and therefore requires extensive reforms to bolster activities in the industry. According to him, the NEITI reports indicated that, “the sector reforms should include periodic review of royalty rates to conform with market prices encouraging companies to declare accurately what they ear

Twenty nine ships laden with petroleum products, food items and other goods are expected to arrive Apapa and Tin-Can Island Ports in Lagos from Jan. 21 to Feb. 5. The Nigerian Ports Authority (NPA) stated this in its publication – `Shipping Position’ – a copy of which was made available to the News Agency of Nigeria (NAN) on Thursday in Lagos. NPA stated that the expected ships contained general cargoes, buck wheat, containers, bulk sugar, steel products, bulk charcoal, bulk gas, diesel, petrol and base oil. The document noted that nine ships had arrived the ports, waiting to berth with petroleum products and frozen fish. Source: Guardian Newspaper.

Britain’s spending on its health service is falling by international standards and, by 2020, will be £43bn less a year than the average spent by its European neighbours, according to research by the King’s Fund. The UK is devoting a diminishing proportion of GDP in health and is now a lowly 13th out of the original 15 EU members in terms of investment, an analysis for the Guardian by the thinktank’s chief economist shows. Prof John Appleby also found that the government’s decision to increase the NHS’s budget by far less than the anticipated growth in GDP meant the service would miss out on what would have been an extra £16bn by 2020. What would you like to see from the NHS' mental health services? As part of our reporting on the NHS, we’d like to hear from our readers on what they’d like to see in its mental health services Ministers highlight that they are giving the NHS in England an increasing share of overall government spending, ringfencing its budget and hand

In a fresh move to boost distribution of petroleum products nationwide, the Nigerian National Petroleum Corporation (NNPC) is to locate its mega station in each senatorial district. It was gathered that the corporation has begun a nationwide consultation with stakeholders with a view to drumming support for the planned expansion of its retail outlets across the country. Under the plan, NNPC is seeking to expand the market share of its retail business to an appreciable level from the current 12 percent by building a mega station in every Senatorial district in the country in the months ahead. Speaking at the kick-off of the consultation during the week, with a visit to the Governor of Kaduna State, Mallam Nasir El-Rufai, the Group Executive Director, Commercial and Investment, Dr. Babatunde Victor Adeniran, who led the NNPC delegation said the purpose of the visit was to solicit support of Kaduna State government to provide lands for building new NNPC petrol stations in th

In 2015, the retail sector of the real estate industry experienced a huge setback in its growth and development due to some abrupt modifications to certain regulatory policies, which stalled new development activities and stifled existing operations FRONTLINE real estate firm, UACN Property Development Company Plc (UPDC) has urged the Federal Government to review the existing policy framework and create a robust platform that will support and indeed accelerate the much desired “retail revolution” in Nigeria. The firm spoke last week in Kaduna, Kaduna State, the takeoff of yet another project aimed at boosting the retail sector of the real estate industry, named Galaxy Mall, a partnership project between the Kaduna state government and UPDC. With the landed property provided by the state, the developer is set to create a unique node of commerce, entertainment and leisure, which will add great value to the entire citizenry of Kaduna state. Galaxy Mall, which has a gross

The real estate market is constantly fluctuating, but many of the basics stay the same -- as do these four rules. To jump start your career in real estate investment, here are the rules to follow. 1. Don’t wait for the right time. Much like the stock market, in real estate we’re always skulking and waiting, ready to pounce on what we believe is the perfect time to jump into the market. I’m here to tell you -- don’t keep waiting. You can spend the next few years waiting for the perfect time, but if you have the startup funds and are eyeing a particular set of properties at a good deal, it’s best not to wait. Start out simple. Buy one or a few properties and go from there. The earlier you begin investing, the sooner your properties will begin to appreciate and, in turn, provide you with more capital to start your next venture. 2. Start bigger, sooner. It’s perfectly fine to begin investing in smaller, low-end properties -- but that’s not how you build an empire. As