Industry

The Lagos Chamber of Commerce and Industry (LCCI) and the Nigerian Exchange Limited (NGX) have disclosed plans to sign a memorandum of understanding (MoU) to work together for the future growth of the country’s capital market. LCCI’s president, Dr Michael Olawale-Cole, made this known when LCCI’s management paid a courtesy call to the NGX, where…

More than two years after the African Continental Free Trade Area (AfCFTA) kicked-off, Nigeria’s trade volume with other African countries has continued to decline. The trade value fell year-on-year (YoY) to N842.6 billion in the first quarter of 2023 (Q1 ‘23), 11.95 per cent down from N956.93 billion recorded in Q1 ‘22

Industry stakeholders have urged entrepreneurs and exporters to fully tap into e-commerce to benefit from the Africa Continental Free Trade Area (AfCFTA) $3.4 trillion market.

Global goods trade showed signs of a turnaround in the second quarter of 2023, driven by strong automobile production and sales, but further upward momentum in Q3 and beyond may be limited as long as export orders remain weak....

Stakeholders in the manufacturing and industrial sector have called on the new Minister of Industry, Trade, and Investment, Dr Doris Uzoka-Anite, to actively and sincerely engage them to give life to the ailing industries across the country.....

The hardship being faced by the masses over the removal of subsidy on Premium Motor Spirit (PMS) with galloping inflation and unsettling foreign exchange crisis may not stop anytime soon as the succour expected to come in December this year .....

The confidence of local manufacturers further dipped to 54.1 points in the first quarter, compared with 55.0 points recorded in the previous quarter.

The overall economy and business conditions for manufacturers and Micro, Small and Medium Enterprises (MSMEs) in the first half year remained challenging due to rising interest rates, inflationary pressure...

Director-General of the Manufacturers Association of Nigeria (MAN), Segun Ajayi-Kadir, said the current inflationary trend is adversely affecting the operations of the manufacturing sector. Ajayi-Kadir pointed out that elevated inflation served as a significant sign of underlying macroeconomic weaknesses the authority has neglected. “It is important to note that addressing inflation is a complex and…

As basic food commodities continue to rise and the country suffers from rapidly dwindling Foreign Direct Investment (FDI), stakeholders said all hope is not lost as some sectors of the industry still have massive growth, trade, and export potential to turn the economy around.

Deputy Director-General (DDG) of the World Trade Organisation (WTO), Ananbel Gonzalez, has urged developed nations to increase trade capacity building to help developing economies implement new commitments

In recent years, global supply chains have come under immense pressure because of trade turbulence, economic uncertainty, geopolitical tensions and natural disasters, leaving the systems, a recent United Nations Conference on Trade and Development (UNCTAD) report has revealed. These, among other similar factors, have led relevant stakeholders in Nigeria, such as manufacturers and industry players, to continue…