Godwin Emefiele, CBN governor

CBN explains denial of foreign exchange to rice importers

The Central Bank of Nigeria on Friday explained its new policy of making public lists…


Dangote, 6 others set for gold mining, other minerals in Nigeria

Seven firms licensed to mine gold and other solid minerals in different parts of Nigeria…

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Nigerian manufacturers spend N3.5trn yearly on generators — NLC

Manufacturers of goods and services in the country spend as much as N3.5 trn annually…

wuse market

Traders decry low turnout at Kaduna Trade Fair

Traders at the ongoing 36th Kaduna International Trade Fair on Sunday decried the low turnout of customers at the fair, describing the situation as “discouraging.” The News Agency of Nigeria reports that the Trade and Investment Centre, venue of the fair, has not been witnessing much customers, three days after…

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Why Nigeria embarked on ports sector reforms — BPE

The Federal Government’s ports reform was to reposition the sector into a modern and efficient system capable of exploiting modern trade and sea freight opportunities, the Director General of the Bureau of Public Enterprises, Benjamin Dikki, said. Mr. Dikiki, who spoke on the “Imperatives of Ports Reform & Its Objectives”…


Slide in oil price: Solid minerals can save the economy, says miners’ chief

The Miners Association of Nigeria on Wednesday said in Abuja that solid mineral remains the alternative to the nation’s economic success in the face of continued slide in oil price. In a statement, the National President of the association, Bani Shehu, acknowledged that the drop remained a source of concern…

ajaokuta steel

Buhari pledges to revive Ajaokuta Steel Complex

The presidential candidate of the All Progressives Congress [APC], Muhammadu Buhari, has promised to revive the moribund Ajaokuta Steel Company if elected president of Nigeria. Mr. Buhari made the promise during his campaign in Lokoja on Friday. He said he would resuscitate the company which had been out of production…


Nigerian Breweries targets 70 per cent market share after merging with Consolidated Breweries

The directors of Nigerian Breweries Plc and Consolidated Breweries Plc have agreed to merge the two companies into one. The agreement is expected to help realize the objective of actualizing their common aspiration of establishing an unassailable market leadership position to continually create value for their shareholders. The Chairman, Nigerian…


Nigerian cement industry accounts for 2.3 million jobs

The Federal Ministry of Industry, Trade and Investment, has said that cement production accounts for over 2.3 million jobs in Nigeria. Speaking at the ongoing Public Affairs Forum, the Minister of Industry, Trade and Investment, Olusegun Aganga, said under the present dispensation, cement industry accounts for 2.3 million jobs provided for Nigerians. “In 2011,…

coca cola

Nigerian govt to prosecute Coca-Cola, NBC executives over product quality

A Federal High Court in Abuja, on Thursday fixed November 4 to hear a government-instituted case against the chief executive officers of Coca-Cola Nig. Ltd. and Nigerian Bottling Company, NBC, Ltd. The office of the Attorney-General of the Federation, AGF, had filed a suit against the chief executives officers of…


EXCLUSIVE: BFIG writes BPE; alleges asset stripping at ALSCON since court ruling

BFIGroup Corporation, the Nigerian-American consortium declared winner of the bid for the Aluminium Smelter Company of Nigeria (ALSCON), Ikot Abasi, Akwa Ibom State, in 2004, has alleged unrestrained pilfering and stripping of assets at the plant since the September 30 ruling by the Federal High Court, Abuja. Justice Abubakar Abdul-Kafarati,…

Corporate Affairs Commission

CAC transaction portal not yet fully functional despite management assurances

Despite assurances by the management of the Corporate Affairs Commission, CAC, following protests by its customers over poor services, indications on Monday are that the situation is yet to fully normalize. Last week, normal business at the headquarters of the Commission in Abuja was disrupted by angry customers and agents during the protest by lawyers,…


30 vehicle manufacturing plants set to open in Nigeria, says auto council

The country had 14 existing plants at different locations in the country. (more…)

Segun Aganga

UN selects Nigeria as pilot to receive industrial support

Selection an endorsement of NIRP deigned to achieve inclusive economic growth through industrialization. (more…)

Steel ministry wants Nigerian banks to fund solid minerals sector

Investment would facilitate industrialisation, generate more jobs and additional revenue. (more…)


Nigeria to revive steel rolling mills – Official

Mr. Abdullahi disclosed that the Katsina Steel Rolling Mill, acquired and renamed Dana Steel Rolling Mill, had started producing pellets. (more…)

Abuja world trade centre

Jonathan lauds Nigeria cement industry’s contribution to economy

 Mr. Jonathan said the industry had also created about 1.6 million jobs in the country. President Goodluck Jonathan on Friday said that the cement industry had attracted $6 billion (N960 billion) local and foreign investments into the country. Jonathan made this known at the ground breaking ceremony for the expansion…

Segun Aganga

New Auto policy: Nigerian government commences inspection of local assembly plants

More auto companies are taking advantage of the new policy (more…)


Vehicle, tyre importers to pay more tariff, Central Bank of Nigeria directs

Vehicle importers will now pay more charges at the ports. (more…)


Indian auto firms, TATA, TVS to set up plants in Nigeria

Companies were encouraged to come to Nigeria by National Automotive Industry Development Plan (more…)


Nigeria makes N523.8 million from mineral titles

The highest revenue of N84.6 million was in June (more…)


Supreme Court chides BPE for refusing to comply with judgment on ALSCON‬

The BFIG wants an enforcement of a Supreme Court ruling on ALSCON. The Supreme Court on Tuesday chided the Bureau for Public Enterprises, BPE, for refusing to comply with its July 6, 2012 ruling ordering the revocation of the sale of the Aluminium Smelter Company of Nigeria, ALSCON, Ikot Abasi…


Lagos businesses, LCCI, condemn federal government’s vehicle policies

The government intends to increase import tariff on tokunboh cars. (more…)


Ajaokuta Steel: Lawmakers want Nigeria to source N156 billion revival fund

The lawmakers accused the federal government of abandoning the project. A member of the Senate Committee on Power, Steel Development and Metallurgy, Nurudeen Abatemi-Usman (PDP- Kogi) has asked the Federal Government to source for $1billion (about N156billion) to revamp the comatose Ajaokuta Steel Complex.‬ ‪Mr. Abatemi-Usman told the Minister of…

Aliko Dangote owns the Dangote conglomerate

Dangote more powerful than Jonathan, other African leaders — Forbes

Mr. Dangote's influence is growing in Africa and the world (more…)