Industry

A public affairs advisory firm, Thekla Advisory, has urged restraint on the recent visa policy review announcement by the Minister of Interior, Hon. (Dr.) Olubunmi Ojo, during a press conference held on October 4th, 2023. During the event, the Minister expressed concern about the failure of some countries to reciprocate Nigeria’s visa-on-arrival policy and declared…

President, West Africa Specialty Coffee Association (WASCA), Larry Segun-Lean, has decried Nigeria’s dwindling coffee and tea exports, a situation he described as extremely worrisome. He said despite the nation’s large economy and huge population...

Manufacturing, a major aspect of any nation’s economy, is a key driver of economic transformation and industrialisation, capable of generating employment, fostering intra-African trade, technological advancement and reducing poverty.

As part of efforts to facilitate bilateral trade and investments between Nigeria and the U.S, a delegation of investors from the United States of America have expressed optimism about the various opportunities that abound in the country. The investors, a part of the USAID-sponsored American Institutional Investor Reverse Roadshow, spoke at a meeting hosted by the Consul General…

Chief Executive Officer, Guinness Nigeria Plc, John Musunga, has again reiterated that the company has no plan to leave the country and is rather looking to increase its capital investments and expanding production capacity. He added that they are doing this with a recently acquired land just behind their present manufacturing plant in the Ikeja…

From all indications, Nigeria may likely fail in its bid to commence trading in the African Continental Free Trade Area (AfCFTA), under the Guided Trade Initiative (GTI). This is because not all the requirements have been met yet. Nigeria had missed the former commencement date two months ago and now, is on the verge of…

The Lagos Chamber of Commerce and Industry (LCCI) has commended the Central Bank of Nigeria (CBN) on its removal of the restrictions on 43 items previously banned and the decision to raise dollar supply to meet the demand pressure. President of the association, Michael Olawale-Cole, said the commitment of CBN to offset the forex backlog…

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…

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…

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…

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,…

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…