Economy
Bosch Power Box to Change Lives of Nigerian Artisans
By Dipo Olowookere
German-based multinational, Bosch Group, is set to bring the Bosch Power Box (BPB) concept to African artisans, the informal sector, often the driving force of African economies.
This is a revolutionary initiative designed to create, up-skill and grow small businesses and bring them into the formal, mainstream economy.
It is a long-term project designed to foster entrepreneurship and ensure a smooth transition for small businesses from the informal to formal sectors. Each BPB has managers, technical staff and trainers, all of whom have received dedicated training from Bosch.
In essence, Nigerian artisans will now be able to buy, lease or rent the very latest power tools developed by the world’s market leader and to be used at Bosch Power Boxes. This will contribute a significant improvement in the quality of the products manufactured, while increasing efficiencies. This will assist Nigerian artisans in growing their businesses.
Bosch Group has ambitions and plans of establishing ten Bosch Power Boxes with Nigeria being next in line.
Since its launch in Kumasi, artisans have been visiting the BPB to purchase products and services offered by Bosch, while 50 have registered for training. One can only imagine how positively this will impact Nigerian artisans.
The concept is in line with the company’s ethos of not just providing goods and services globally, but actively contributing to the socio-economic upliftment of developing nations. Bosch is motivated by a need to play a meaningful role in Africa, in particular by creating more sustainable jobs following the company slogan “Invented for life”.
Dr Markus Thill, the President of Bosch Africa says, “Each Bosch Power Box will also provide courses on product application and safety. Economic prosperity is about creating opportunities from the ground up to benefit individuals, communities, countries and the global community, and this is what we at Bosch aim to do.”
“Having Bosch is a dream come true in Africa and specifically for us here in Sokoban Wood Village. Artisans did not know before what it takes to build something very fast, they relied only on manpower,” says Kingsley Baafi, Manager at Bosch Power Box in Kumasi.
“We will provide product application services on how they can use the tools correctly, maintain and service them and ensure a prolonged lifespan. Another exciting feature is that, through our partnership with Equity Bank, these entrepreneurs will receive financial training and budget management assistance,” said Benjamin Ofori, Regional Sales Director of Bosch Power Box.
“At Bosch, we want to use our resources and expertise in developing countries to improve skills, create economic opportunities and growth at a micro level, providing world-class services at affordable prices and improving the lives of all citizens.”
By Adedapo Adesanya
The Nigeria Customs Service (NCS) is seeking a reduction in import duty exemptions, which rose to N34 trillion, limiting its ability to increase its revenue generation threshold.
The Comptroller-General of the Customs Service, Mr Adewale Adeniyi, disclosed that the value of import duty exemption certificate approvals increased to that level in 2025, describing the policy as one of the major factors restricting its revenue generation.
At an investigative session of the Senate Committee on Finance with revenue-generating agencies in Abuja on Monday, Mr Adeniyi explained that government fiscal policies have continued to impact the revenue-generating capacity of the Customs Service, both positively and negatively.
“The NCS would have generated significantly higher revenue over the years if not for government-approved import duty waivers and other external factors affecting collections,” he said.
He added that the Import Duty Exemption Certificate scheme, introduced in March 2020, accounted for about N34 trillion in approvals in 2025, with nearly 60 per cent covering duty-free importation of military hardware due to Nigeria’s prevailing security challenges.
Other government-backed duty waivers, he noted, covered the importation of Compressed Natural Gas (CNG), electric and hybrid vehicles, healthcare equipment and medical supplies, industrial machinery and manufacturing inputs, as well as food import intervention programmes.
While acknowledging the impact of the waivers on Customs revenue, Mr Adeniyi argued that fiscal policy should not be assessed solely on the basis of revenue generation but also on its broader economic and social objectives.
He, however, urged the federal government to establish stronger monitoring mechanisms to ensure beneficiaries of duty waivers deliver the intended economic outcomes, including lower consumer prices, increased local production and improved healthcare access.
The committee also expressed displeasure over the absence of several heads of government agencies invited to the hearing, including the Nigerian Civil Aviation Authority (NCAA), Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Industrial Training Fund (ITF), and the Federal Medical Centre (FMC), Jabi.
The Chairman of the Senate Committee on Finance, Mr Sani Musa, warned that the affected chief executives must appear at the committee’s next sitting or face severe sanctions under the Senate’s rules.
In the competitive world of online trading, finding a trading brokerage partner that balances reliability, technological innovation, and accessible conditions is essential. Headway broker has emerged as a significant player, currently serving over 4 million users globally.
In this article, we take a detailed look at what makes this broker for trading a notable option for both novice and experienced traders.
Headway Regulatory Foundation and Safety
Safety is the cornerstone of any trading relationship. Headway broker operates under the regulation and licensing of the Financial Sector Conduct Authority (FSCA). This regulatory oversight ensures that the broker adheres to strictly defined standards for transparency and operational conduct, providing traders with an added layer of security and confidence when managing their portfolios.
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Efficiency in trading Forex and other markets is driven by the tools at your disposal. Headway provides a robust technological trading ecosystem:
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Trading Account Types Offered by Headway
Headway broker understands that every trader enters the market with a different level of experience:
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Headway supports its user base with comprehensive resources and financial incentives:
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Conclusion
With its combination of FSCA regulation, a vast range of instruments, and modern platforms like MT4, MT5, and its own proprietary app, Headway FX broker provides a comprehensive environment for modern traders. Whether you are using the demo account to hone your skills or taking advantage of the 150 no deposit welcome bonus, this broker offers the stability and tools needed for your trading journey.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange rose by 0.40 per cent on Monday, July 13, buoyed by buying interest in 11 Plc, Central Securities Clearing System (CSCS) Plc and UBN Property Plc, which offset the profit-taking in Food Concepts Plc, the parent company of Chicken Republic.
11 Plc gained N20.69 to end at N227.64 per share compared with last Friday’s price of N206.95 per share, CSCS Plc grew by N1.83 to N91.48 per unit from N89.65 per unit, and UBN Property Plc added 1 Kobo to sell at N1.81 per share versus N1.80 per share.
On the flip side, Food Concepts Plc depreciated by 24 Kobo to close at N2.45 per unit, in contrast to the preceding session’s N2.69 per unit.
As a result, the market capitalisation increased by N9.2 billion to N2.587 trillion from N2.578 trillion, and the NASD Security Index (NSI) improved by 15.33 points to 4,311.67 points from 4,296.34 points.
Yesterday, the volume of securities traded by investors surged by 615.9 per cent to 9.1 million units from the previous 1.3 million units, and the value of securities rose by 997.1 per cent to N320.4 million from the preceding session’s N29.2 million, while the number of deals decreased by 12.5 per cent to 28 deals from last Friday’s 32 deals.
At the close of trades, Great Nigeria Insurance (GNI) Plc remained the most active stock by value on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units worth N6.5 billion, and CSCS Plc with 73.9 million units exchanged for N5.2 billion.
GNI Plc also closed the session as the most traded stock by volume on a year-to-date basis, with 3.4 billion units sold for N8.4 billion, followed by Infracredit Plc with 2.3 billion units traded for N6.5 billion, and Resourcery Plc with 1.1 billion units transacted for N415.7 million.
