Industry
18 Oct
The Director-General of the World Trade Organisation (WTO), Ngozi Okonjo-Iweala and Managing Director, International Finance Corporation (IFC) Makhtar Diop, have again stressed the importance of increasing access to trade finance for small businesses to assist their integration into global supply chains. The WTO boss emphasised that trade finance plays a vital role in supporting inclusive…
16 Oct
Less than two weeks after announcing the reduction in the price of cement from N5500/6000 to the ex-factory price of N3, 500 per bag, the BUA Group has increased the prices of sugar, flour and spaghetti products. While the price slash in cement is yet to be felt by consumers across the country as the…
16 Oct
Projections for growth in global merchandise trade in 2023 have been scaled back by economists amid a continued slump that began in the fourth quarter of 2022, according to the latest World Trade Organisation (WTO) trade forecast released recently. According to them, the volume of world merchandise trade is now expected to grow by 0.8…
16 Oct
Local manufacturers of clothing in the country have complained about worsening conditions in the sector, saying if the situation does not improve soon, they will be forced to close shops indefinitely. The latest crisis to hit the sector is the scarcity of dye for polyester fabrics, a situation that has caused production to slow down significantly,…
16 Oct
In recognition of its contributions to the manufacturing industry and innovation, the Nigerian Bottling Company (NBC) Ltd., has been recognised at this year’s edition of the ECOWAS Manufacturing Excellence Awards (EMEA) organised by Independent Newspapers, BusinessDay- Ghana and African Consolidated Analytical Limited. The ECOWAS Manufacturing Excellence Award is aimed at celebrating outstanding individuals and organisations…
13 Oct
Increase in capital inflow into the manufacturing sector in the first half of 2023 rose to $861.16 million or 88.16 per cent, compared to $457.67 million in the first half of 2022, data from the National Bureau of Statistics (NBS) has revealed. Speaking on this development, the Director-General of the Lagos Chamber of Commerce and…
4 Oct
President of the Lagos Chamber of Commerce and Industry (LCCI), Asiwaju Michael Olawale-Cole, said that addressing Nigeria’s many infrastructure challenges would require sustained expenditure of almost $14.2 billion yearly in the next decade, or about 12 per cent of national output. In a press statement reviewing the state of the economy and businesses in the last…
4 Oct
Director-General, World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala, has stressed the importance of trade in supporting women-led small businesses in addressing climate change and fostering innovation. At a workshop jointly organised by the Informal Working Group on micro, small and medium-scale enterprises (MSMEs), Informal Working Group on Trade and Gender and the Trade and Environmental Sustainability…
4 Oct
In the last few weeks, the cost of diesel has shot up significantly, complicating the already high operating cost of manufacturing and leaving industrialists in panic. With naira also losing its value by the day while electricity supply remains unstable, there is fear that manufacturing companies will continue to close shops in the coming months…
20 Sep
Director-General, Standards Organisation of Nigeria (SON), Farouk Salim, has advised manufacturers to standardise their products and carry out necessary quality assurance procedures for the best quality to promote economic growth.
20 Sep
Producers of agro-allied products in Nigeria have received the requisite skills and tools to enable them to compete with their counterparts all over the world.
17 hours ago
The call for full adoption of gas for vehicles has hit the front burner, as stakeholders agreed that Autogas has the prospects to turn around the nation’s ailing economy with the potential to contribute a turnover of about N2trn.
18 hours ago
The players and stakeholders in the event business in Nigeria have advocated the adoption of technology to deepen the craft of event business and grow the industry that is at present valued at about $20b.
19 hours ago
Investors have been urged to consider investment opportunities in waterfront communities, which are currently vastly untapped. The Director, Acquisition, Revocation and Compensation, Land Services Directorate of Lagos State..
19 hours ago
The French Minister for Foreign Trade, Economic Attractiveness and French Nationals Abroad, Olivier Becht, has pledged to support the Nigerian government and private sector in the area of energy.
2 days ago
Zenith Bank Plc has signed a memorandum of understanding (MoU) with the Chartered Financial Analyst (CFA) Institute to promote efforts and activities that support formation, training and updating of human capital in finance and investment...
2 days ago
Africa Association of Professional Freight Forwarders and Logistics of Nigeria (APFFLON) has urged the federal government to reduce customs duties on ambulances, firefighter vehicles as well as agricultural equipment.
2 days ago
Director-General of the Lagos Chamber of Commerce and Industry (LCCI), Dr Chinyere Almona, has urged the federal government to, as a matter of urgency, improve its budget performance in terms of capital expenditure in 2024.
2 days ago
The Organised Private Sector of Nigeria (OPSN) has urged President Bola Tinubu to enhance the business environment to attract foreign direct investments (FDIs), emphasising the need for a conducive atmosphere to retain local businesses and attract foreign investments.
2 days ago
Plans by the insurance sector to generate a premium of N148.30 billion from third-party motor insurance by December 31, 2023, as against N56.76 billion recorded in 2022, may not be realised owing to the rising economic challenges in the country.
2 days ago
Amidst efforts to take rising food inflation and poverty in the country, the federal government said it is targeting the production of 31 million metric tonnes (MT) of grains in 2024.