Industry

NACC seeks stronger agribusiness, power ties with U.S.
Business Industry NACC Otunba Oluwatoyin Komolafe

NACC seeks stronger agribusiness, power ties with U.S.

The Nigerian American Chamber of Commerce (NACC) has announced plans to attract fresh long term Foreign Direct Investments (FDIs) from the United States into Nigeria’s agriculture and power sector. Preparatory to its Independence Investment Forum (TIIF) forum scheduled to hold on the 1st of October, 2018 in Lagos, NACC President, […]

OPS seeks deployment of trade facilities to cover infrastructure gaps
Business Industry Lagos Chamber of Commerce and Industry LCCI OPS Organised Private sector

OPS seeks deployment of trade facilities to cover infrastructure gaps

Indeed, China Development Bank (CDB), in Changsha, China, had signed an agreement providing a $500-million facility to the African Export-Import Bank (Afreximbank) to enable the trade finance bank support trade enabling infrastructure projects across the continent. Members of the Organised Private Sector (OPS) have urged government to take advantage of […]

‘Why non-oil export sector may remain at level of potential’
Bamidele Ayemibo Business GDP Gross Domestic Product Industry Lagos Chamber of Commerce and Industry LCCI National Bureau of Statistics NBS

‘Why non-oil export sector may remain at level of potential’

Chairman, Export Group, Lagos Chamber of Commerce and Industry (LCCI), Bamidele Ayemibo, said the hydra-headed challenges can be addressed through collaboration between the private sector and government in the areas of policy initiation and implementation. The expectations of an end to the rhetorics of “potential” in the non-oil sector may […]

China explores Nigeria’s silk industry to deepen $7.2b trade ties
Business China Gao Hongliang Industry Nigeria

China explores Nigeria’s silk industry to deepen $7.2b trade ties

Textile Industry Chinese investors have expressed interests in Nigeria’s silk industry in a bid to deepen its $7.2b trade ties between the two countries. Speaking at China Homelife exhibition in Lagos recently, China’s Commercial Consular, Gao Hongliang, noted that his country’s interest in Nigeria hinges on the population and potential […]

Operators seek fiscal policies to aid real sector performance
CBN Industry LCCI Muda Yusuf

Operators seek fiscal policies to aid real sector performance

Muda Yusuf, LCCI Boss. Though the Manufacturing Purchasing Managers’ Index (PMI) for August stood at 57.1 index points, indicating further expansion in the manufacturing sector for the 17th consecutive month, stakeholders in the private sector have urged for fiscal policy measures that check unintended consequences on cost of operations of […]

CPC restates commitment to consumer safety
Business Consumer Protection Council CPC Industry NAFDAC

CPC restates commitment to consumer safety

Director General, Consumer Protection Council (CPC), Babatunde Irukera The Consumer Protection Council (CPC) has reaffirmed its commitment to protect the rights and safety of Nigerian consumers. Indeed, the council stated the need to seek ways to provide innovative and efficient to address consumer complaints in the country, stressing that the […]

‘Importation of sub-standard Asian steel threatening local manufacturers’ survival’
Aarti Steel Nigeria Limited Asian steel Business Industry Keshav Sharan Sharma

‘Importation of sub-standard Asian steel threatening local manufacturers’ survival’

Aarti Steel Nigeria Limited. Photo/ gcpl The increasing menace of dumping of sub-standard goods from Asian countries, into the Nigerian market is seriously undermining the competitiveness of the nation’s already distressed manufacturing sector, local operators have lamented. Steel distributors who are currently affected by the situation stated that the importation […]

‘Trade momentum may soften further in Q3 on rising tensions’
Business Industry World Trade Outlook Indicator WTO WTOI

‘Trade momentum may soften further in Q3 on rising tensions’

UNCTAD Secretary-General, Mukhisa Kituyi Trade expansion will likely slow further in the third quarter of 2018 according to the WTO’s latest World Trade Outlook Indicator (WTOI), as rising trade tensions continue to pose risks to the trade forecast. The most recent WTOI reading of 100.3 is below the previous value […]

‘Proposed five per cent credit facility to MSMEs will stimulate economy’
Business economy Industry Mines and Agriculture MSMEs NACCIMA Nigerian Association of Chambers of Commerce

‘Proposed five per cent credit facility to MSMEs will stimulate economy’

NACCIMA President, Iyalode Alaba Lawson The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has stated that the proposed five per cent credit facility for Micro, Small and Medium Enterprises(MSMEs) will help to stimulate the economy. Indeed, the Vice President, Prof. Yemi Osinbajo, had announced that government […]

BoI to drive import substitution with leather manufacturing scheme
Bank of Industry BoI Business Industry leather manufacturing

BoI to drive import substitution with leather manufacturing scheme

Bank of Industry To improve capacity of operators in the leather products manufacturing sector and intensify import substitution, especially those in Aba cluster, the Bank of Industry (BoI), has unveiled the Aba Finished Leather Goods Cluster Financing programme, targeted at over 150,000 artisans in the cluster. According to the bank, […]

AfDB seeks technology transfer to farmers for processing
AFDB Akinwumi Adesina Industry

AfDB seeks technology transfer to farmers for processing

The President of the African Development Bank Group, Akinwumi Adesina, has sought that farmers across the continent be given access to new technologies with the potential to transform agricultural production and intensify processing. Adesina said the technology transfer was needed immediately and that evidence from countries like Nigeria demonstrated that […]

‘Why Nigeria, others should develop local drug manufacturing capacity’
ECA Frank Jacobs Industry

‘Why Nigeria, others should develop local drug manufacturing capacity’

Frank Jacobs, MAN President There is an urgent need to develop the pharmaceutical sector in Africa to reduce the continent’s dependence on imported pharmaceutical and medical products, says United Nations Economic Commission for Africa’s Soteri Gatera. Chief of the Industrialization and Infrastructure Section at the ECA, Gatera, says Africa bears […]

‘Public transportation as a social service requires subsidy’
BRT Business Fola Tinubu Industry LAMATA Primero Transport Services Limited

‘Public transportation as a social service requires subsidy’

Fola Tinubu is the Managing Director/Chief Executive Officer, Primero Transport Services Limited Fola Tinubu is the Managing Director/Chief Executive Officer, Primero Transport Services Limited. In this interview with BENJAMIN ALADE, he spoke on the need to address chaotic transport system in Nigeria, especially Lagos, as this would make the nation […]

‘Inclusiveness, community-level engagement crucial for AfCFTA’s success’
AfCFTA AUC Business Industry man

‘Inclusiveness, community-level engagement crucial for AfCFTA’s success’

PHOTO: Africa Union Commission. Echoing the views of local manufacturers on the need to engage critical stakeholders preparatory to the AfCFTA ratification, the African Union Commission (AUC) has highlighted the importance of stakeholder consultation platforms for the success of the trade deal. The Manufacturers Association of Nigeria (MAN) notes that […]

Lafarge Africa to reduce leverage position with N90b fresh capital
Business Industry Lafarge Africa Nigeria

Lafarge Africa to reduce leverage position with N90b fresh capital

Lafarge Africa Plc Lafarge Africa Plc has announced plans to raise up to N90billion by way of rights to existing shareholders, subject to all corporate and regulatory approvals. According to the company, the restructuring is aimed at leveraging position, improve its industrial operations as well as strengthen its profitability. Besides, […]