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COVID-19: NCDMB Cuts Interest Rate On NCI Fund Loans, Extends Tenure



The Nigerian Content Development and Monitoring Board (NCDMB) says it has reduced the interest rate for beneficiaries of loans under the Nigerian Content Intervention (NCI) Fund from eight to six percent per annum.
The board says it has also extended the loans moratorium and tenure effective from April 1.
Executive Secretary, NCDMB, Mr Simbi Wabote,said that the move was part of measures to spur business continuity, particularly in the oil and gas sector due to the COVID-19 pandemic.
Wabote explained that these palliatives seek to reinforce the various economic stimulus packages by the Federal Government to support businesses to overcome the difficulties created by the Coronavirus outbreak in Nigeria.
He reaffirmed the board’s commitment to continue to provide impetus to businesses in the oil and gas industry to surmount emerging operating difficulties in line with the Federal Government’s policy direction.
“Under this palliative regime, all running loans with outstanding tenure within three years will be extended by six months, while all running loan facilities with a tenure above three years will get extra 12 months tenure.
“Similarly, there will be moratorium extension on all running loan facilities under manufacturing, asset acquisition and contract finance with outstanding tenure not exceeding three years by six months and by 12 months for all applicable running loan facilities, effective April 1.
“The five loan products under the NCI Fund are manufacturing, asset acquisition, contract finance, loan refinancing and community contractor financing.
“However, there have been no disbursements yet under Community Contractor Financing to date,” Wabote said in a statement.
He also disclosed that about 91 per cent of the 200 million dollars NCI Fund had been disbursed to 26 beneficiaries and many of the borrowers had started repaying.
According to him, the current success rate of the Intervention Fund is above 95 percent.
He said: “Since the COVID-19 outbreak and lockdown in Nigeria, NCDMB has continued to roll out measures to ensure resilience and business continuity in the oil and gas industry.
“Just last week, the board offered business advisory to Project 100 companies and other oil and gas service companies in Nigeria on how to navigate through these precarious times and remain resilient.
“The board also directed NLNG to give priority to Project 100 companies with proven capacities in the Train 7 project.
“Much more than these, despite the lockdown, NCDMB also wrote to NLNG granting final clearance on Nigerian Content requirements and for the Train 7 contract to be signed and project to commence.”
Wabote added that on the fight against COVID-19, the board had donated ambulances and medical equipment to some states.

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Why Social Media Is Important For Marketing in Business



Nowadays running a business is one of the easiest thingsthat you can do. It can be a small business or a big one it doesn’t matter. Thanksto technology there are so many easy ways to market your business online. This brings us to the topic at hand as to why social,media is important for business marketing.

Directing Traffic towards Your Business

Marketing your business on social media will give your business the limelight that you needs to get the customers that you want. Besides getting visibility you also can attract a global audience through social media platforms. There is no other platform that gets more attention than social media.

Social Media Shows Trustworthiness

One thing that you should keep in mind while marketing your online casino au business on social media is that customers want something they can trust. By posting your brand on social media you get the feedback you need. The more response that you get from your post is what will get more people to trust your brand.

Humanizing Your Brand

Connecting with your customers on social media is one of the ways to bring life into your new online casino business. It’s not all about your making use of these platforms to market your business but also getting to understand theneed of your customers.

Gets You Customer Loyalty

What could be better than a free way to establish brand loyalty? Customers interact with and follow the companies they like. What’s more fascinating is that 53% of clients who follow your company on social media are likely to be loyal to it specifically.If clients follow you on social media, they’re more likely to select you over your competitors.


There are so many benefits that can be brought about by the use of social media in your business. It’s the new way of, marketing that will make your brand grow.

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Ways to Use Technology in a Small Business



Technology can greatly increase the success of your business. In different cases, the use of technology may be the progression of the processes you have in place already. In this competitive era using technology as a kind of support to boost your business skills and opportunities can be the best way.

Technology has also changed the online casino gambling industry. It has increased convenience formobile users so that gambling is accessible all the time.

In this article, we are going to give you ways to use technology in a small business.

Use Technology in a Business to Connect with People

One of the great ways of using technology is the ability to communicate and connect with other people. Technology has become a crucial part of not only an individual’s life but also the business. It is an amazing tool to get in touch with customers and employees.

When it comes to modern technology, sending emails and newsletters to the customers can lead one to grow his business overtime.

Therefore, there is an important increase in the sphere of collaboration, with a certain level of flexibility. It has become convenient and also teamwork has grown to a level of understanding.

Improve Marketing Tactics

Regardless of the type of business that an individual is starting, there need to be specific marketing techniques. It would help in the company’s expansion. With technology, it has now become more accessible than ever to hone on those tactical skills to have a real money casinos in Newzealand to be successful business.

In addition, there is software that can help one to build a reliable and solid business plan. Building a company website is an excellent goal for creating a business plan.

In conclusion, these are some ways on how to use technology in a small business.

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Top Reasons Why a Research is Necessary When Traveling



When traveling, research can significantly affect how the new environment you’re going to will receive you. Researching about a country you’re going to gives you a great understanding of the area. It also gives you information on what to expect and what to avoid. However, researching is also important when you want to play online gambling games as well.

Let’s look at the reasons why researching is important before you travel.

You Discover the Hidden Gems of Your Destination When You Research

If you research properly before traveling, it gives you an insight into the must-visit places. Researching also gives you a chance to be adventurous without the need of relying on a tour guide. Having proper information about a place you want to travel to gives you the chance to explore more.

Helps to Understand and Appreciate Different Cultures

Moreover, understanding the social norms of your travel destination helps you to easily get used to the environment. You should be in a position to teach yourself a few words used by people in the country you’re in. Doing this can help you to minimize the issues of a language barrier.

Appreciating the culture of a country you’re traveling to is necessary. For instance, knowing the appropriate dress code for a certain occasion is important since some places have rules on this. Believe us, you do not have to dress offensively in a foreign country you’re unfamiliar with.

Know the Places to Avoid

Furthermore, if you research properly before traveling, you’ll know certain places to avoid. For instance, make sure you gather some information on the streets that may be dangerous. This helps to avoid situations of being robbed your hard earned money from online blackjack games .

Researching Helps You to Evade Scammers

In addition, it is important to know how to stay away from places and people leading you to get scammed. So, how do you avoid getting scammed? Researching well can help you with that.

Doing proper research gives you the chance to make informed decisions when the need arises. It is crucial to understand that not everything will flow smoothly in your travel expeditions.

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