Manufacturing

Buhari Talking

Buhari orders review of economic policies before 2016 budget

President Muhammadu Buhari said Monday in Abuja that he would gladly reverse or abandon some…

alscon_gal_4

ALSCON sale: Reps orders probe of BPE, NCP’s refusal to enforce Supreme Court ruling

The House of Representatives on Tuesday mandated its Committee on Privatization and Commercialization to immediately…

miners

Nigeria must bring back solid mineral revenue — RMAFC

The Revenue Mobilization Allocation and Fiscal Commission (RMAFC) on Friday urged the Miners Association of…

Emulsion-Texcote-and-Gloss-Paint-Building-materials-Exchange-swap-at-Ogbomosho-Oyo

Standard Organisation of Nigeria to curb high lead content in paints

The Director, Standards Organisation of Nigeria, on Friday said the organisation would come up with new standards to reduce lead content in paint. Mr. Komolafe said this when a technical committee from the SON met with paint’ stakeholders in Lagos. He said the idea is to guard against the hazardous…

Bank of Industry

Bank of Industry grants N24.6bn loan to solid minerals investors

The Bank of Industry on Wednesday put its total loan portfolio in the solid minerals sector of the economy at N24.6 billion. The Managing Director of the bank, Rasheed Olaoluwa, said this in Abuja at the opening session of the bank’s one day Solid Mineral Sensitisation Forum tagged “investment opportunities…

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Tiger Brands acquires Dangote Flour; may change name at AGM

Following the recent successful acquisition of majority shares in Dangote Flour Plc, shareholders of the company are poised to take a resolution during its annual general meeting (AGM) on Friday (today) to effect a name change. If the proposal by the Chairman of the company, Aliko Dangote, to the shareholders…

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“Made in Nigeria” goods rejected in Mexico, others due to poor packaging

Due to a lack of quality control and poor packaging, hundreds of containers loaded with ‘Made in Nigeria’ products are being rejected in the international market and are returned home, the Nigerian Shippers Council has said. According to the North-West zonal coordinator of the council, Karimatu Uthman, this and many…

Speaker, House of Reps, Yakubu Dogara.

Nigeria may compel multinationals to list on Nigerian Stock Exchange — Dogara

The Speaker of the House of Representatives, Yakubu Dogara, on Wednesday lamented the refusal of multinational companies to list on the Nigerian Stock Exchange, expressing the need for a law to reverse the trend. In a statement issued by his Special Adviser on Media and Public Affairs, Turaki Hassan, the…

lafarge

Lafarge Africa announces successful completion of $40 Billion merger between Lafarge Group, Holcim

On July 15, 2015, LafargeHolcim officially launched its new group around the world and announced key elements of its ambitions for the future. Following the successful completion of the merger between Lafarge Group of France and Swiss company Holcim, the new Group will now work towards creating the highest performing…

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 of goods and services items barred from for accessing foreign exchange in the Nigerian market for their imports. The Bank’s Director of Trade and Exchange department, Olakanmi Gbadamosi, said the new policy was part of…

nigerianminers

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 are set to commence operation, an official has said. The Director-General of the Nigeria Mining Cadastre Office, Mohammed Amate, said the seven mining firms were at the moment mobilising the required financing from the capital…

Photo credit: bbc.co.uk

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 to generate alternative power for their production operations due to the collapse of public electricity supply, the Nigeria Labour Congress, NLC, said on Thursday. The president of NLC, Ayuba Wabba, said providing alternative power for…

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…

Photo: [nationalmirroronline.net]

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”…

crude-oil-pipe

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…

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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…

Aganga,_Olusegun_Olutoyin_(IMF)

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…

Photo: businessnews.com.ng

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,…

Cars

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…)

ajaokuta-steel

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…)