Economy
Business Travel Tips For Nigerians This 2017
By Nkem Ndem
Business travel is inevitable for most people in the Nigerian workforce. Aside from the fact that it contributes a lot to the economy and GDP of the country, it opens doors for the individual businessman or woman, opportunity seeker, and small scale business person or business owner.
In Nigeria, however, many companies view business travel simply as an expense and do not see the benefits that come from it. They, therefore, budget very little for it, making the trip in itself extremely tedious for the employee who gets the assignment to embark on the journey. The truth is, no matter the budget or destination, any Nigerian can survive a business trip by following certain rules. Jumia Travel offers 5 tips to aid Nigerians who regularly find themselves on the move for business.
Ensure you draft a packing list, and use it at all times
As a traveller, you already know what is essential to your trip and what is dispensable. However, before you set out on your journey, ensure you make a checklist where you include every item you will be travelling with, including personal documents and gadgets. This helps you remain organized and there is a very low risk of forgetting anything you need for the trip, or leaving it behind at your hotel. You really do not need to download an app or use software to do this; a pen and paper will suffice. Good thing is that once you make the list, you can always use it for every other business trip, only updating it where necessary.
Be punctual
Although some business trips might be impromptu, most are usually scheduled with ample time to make pre-arrangements. Do not leave your travel arrangements to the last minute and if the office is making the arrangements for you, ensure you follow up, making sure they keep you updated. Try and book your flight in advance. And on the day of the trip, get to the airport on time; check in on the way if you can, that way you limit every chance of missing your flight and dealing with the complications of a cancellation. Also ensure that you call ahead to notify the hotel and the car rental, and if you are being picked up by business partners at your destination, an early or scheduled arrival gives a good impression and hence a good start.
Make sure you keep your devices charging
When you are on the road, your devices should remain charged as they are what keeps you connected to your office and the contacts at your destination. Also, in this era of laptops and iPads, most of our information are stored as files on these gadgets. Charge these devices to full capacity before you set out on the trip, and even while on the trip, carry a travel charger and look out for ports where you can plug in and keep them charging. A great idea will be to pack a power bank which is very portable. Also, you can travel with extra batteries.
Stay on top of your expenses
When you are on business trip, usually your expenses are catered to by the office management. In most cases, there will be a budget while in other cases you would be asked to bring back a list of costs insured for reimbursement. Whatever the case, it is important to stay on top of your expenses. The office will not reimburse you for everything. Take a small jotter to record your expenses and ensure you write on the back of each receipt where you were or the reason for the expense. Keeping track of all your purchases and expenses will help you stick to your budget and will make writing a report easier.
Ignore the minibar and room service
The minibar poses a huge temptation for most business travellers as it is usually easy to just reach into the fridge and snack on something while working. But the thing about most minibars is that the price of the items in the minibar is highly inflated and never worth the convenience. Even the room service comes at an extra charge and also deprives you the chance to stretch your legs and drink in the ambiance of the hotel surroundings. The fact that you are on a business trip, does not mean you are confined to the hotel. Forget the minibar and room service, go out to local restaurants and stores far away from your hotel, mingle with others and explore in your free hours. Rather than spend more in the hotel, you will gain enriching experiences that you can share with your colleagues upon your return to the office.
Nkem Ndem is a PR Associate at Jumia Travel.
By Adedapo Adesanya
The National Pension Commission (PenCom) has defended its decision to allow Pension Fund Administrators (PFAs) to invest in the parent companies of their custodians, insisting that adequate safeguards are in place to protect contributors’ funds.
The director-general of the pension regulator, Ms Omolola Oloworaran, speaking on Tuesday during the Meet the Press Briefing at the Presidential Villa, Abuja, said the commission’s decision to relax the investment restriction followed a comprehensive risk assessment that found minimal conflict of interest.
She explained that under PenCom’s investment regulations, PFAs are only permitted to invest pension assets in carefully selected instruments that meet stringent criteria, including profitability, strong credit ratings and proven track records.
According to her, the commission regularly reviews its investment regulations, conducts routine examinations and spot checks on PFAs to ensure strict compliance with established risk management guidelines.
“PFAs cannot just go into the stock market and buy any kind of stock. There are strict guidelines. Companies must demonstrate profitability, have a proven track record and satisfy other criteria before pension funds can invest,” she said.
Ms Oloworaran noted that each PFA also operates under the oversight of a board, an investment committee and a risk management committee, providing additional layers of governance to safeguard contributors’ funds.
She said PenCom recently issued a circular allowing PFAs to invest in the parent companies of their custodians after determining that the potential conflict of interest was negligible.
The PenCom boss explained that the parent companies involved are largely Tier-1 banks, including First Bank, United Bank for Africa (UBA) and Zenith Bank, which she described as A-rated institutions with strong financial foundations.
She said the policy was intended to widen investment opportunities for pension funds without compromising safety.
Using Stanbic IBTC as an example, Ms Oloworaran explained that if its custodian is Zenith Bank, the previous restriction prevented the pension administrator from investing in Zenith Bank shares despite the bank’s strong performance.
“We reviewed the risks and any potential conflict of interest and found the risks to be very low. That is why we opened that investment window,” she said.
By Aduragbemi Omiyale
Analysts at Meristem Research have predicted that the inflation rate for June 2026 in Nigeria should marginally rise to 15.95 per cent on a year-on-year basis from the 15.93 per cent reported in May 2026.
The National Bureau of Statistics (NBS) is expected to release inflation numbers for last month later today, Wednesday, July 15, 2026.
In its report sighted by Business Post, Meristem Research said it expects inflationary pressures to re-emerge across key economies in the near term, as the re-escalation of the US-Iran conflict has reignited upward pressure on global oil prices.
It disclosed that this marks a sharp reversal from most of June, when the ceasefire between the two countries helped drive oil prices lower, raising expectations of some relief on the inflation front.
With conflicts now flaring up again, oil prices are likely to increase again, and the anticipated easing in energy-driven inflation may not materialise as broadly as earlier envisaged.
“Nonetheless, some relief is likely from the food segment, where robust supply conditions across major producing regions and softening demand should continue to ease food price pressures,” it stated.
The team also explained that it projected a 15.95 per cent inflation rate because of the lingering effects of persistent food price pressures.
“However, we expect core inflation to moderate as the sharp reversal in energy prices begins to filter through to transportation, distribution, and other energy-related costs, easing underlying price pressures.
“On a month-on-month basis, the combined effect of lower petrol prices, a relatively stable Naira, and the gradual pass-through of reduced energy costs across the supply chain should exert further downward pressure on inflation.
“Based on our assessment, food inflation is expected to remain the key swing factor, as seasonal pre-harvest supply constraints are likely to offset some of the gains from lower logistics costs,” it said.
By Adedapo Adesanya
The duo of Central Securities Clearing System (CSCS) Plc and Afriland Properties Plc weakened the NASD Over-the-Counter (OTC) Securities Exchange by 1.61 per cent on Tuesday, July 14.
CSCS Plc saw its stock value drop N9.08 to close at N82.40 per share compared with the preceding session’s N91.48 per share, and Afriland Properties Plc slid by 17 Kobo to sell at N15.00 per unit versus N15.70 per unit.
The losses recorded by the two securities pulled back the market capitalisation by N41.64 billion to N2.546 trillion from N2.587 trillion, and cracked the NASD Security Index (NSI) by 69.36 points to 4,242.31 points from 4,311.67 points.
It was observed that the exchange witnessed two price advancers during the session, led by FrieslandCampina Wamco Nigeria Plc, which gained N1.37 to end at N151.37 per share compared with the previous day’s N150.00 per share, and Food Concepts Plc chalked up 5 Kobo to settle at N2.50 per unit versus N2.45 per unit.
The volume of securities traded by market participants surged by 50.7 per cent to 13.7 million units from the previous 9.1 million units, while the value of securities went down by 79.7 per cent to N65.2 million from N320.4 million, and the number of deals crashed by 3.6 per cent to 27 deals from the previous session’s 28 deals.
At the close of transactions, Great Nigeria Insurance (GNI) Plc remained the most traded stock by value on a year-to-date basis, with the sale of 3.4 billion units for N8.4 billion, trailed by Infrastructure Credit Guarantee (Infracredit) Plc, which exchanged 2.3 billion units valued at N6.5 billion, and CSCS Plc with 73.9 million units transacted for N5.2 billion.
GNI Plc also closed the trading day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units worth 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 valued at N415.7 million.
