26 C
Lagos, South Africa and New York
Friday, June 5, 2020

Textile manufacturers appeal to state govts to use local content for face masks

The Nigerian Textiles Manufacturers Association (NTMA) has appealed to Lagos State Government and other state governments interested in procuring face masks for their citizens to consider using its garment and textile manufacturing member-firms for supplies for safe, secure, and hygienically-produced masks. President of the NTMA,...

Reps adopt 2 bills to prevent concession of Ajaokuta Steel

The House of Representatives on Wednesday adopted two bills seeking to prevent the concession of Ajaokuta steel company and to ensure its completion. The bills, each sponsored by 301 lawmakers, were introduced for first reading on Wednesday, March 21. The bills are: An act to provide...

Nigeria’s manufacturing Purchasing Managers’ Index slightly up to 54.7 in Feb

The manufacturing Purchasing Managers’ Index (PMI) for Nigeria, which takes the temperature of the sector rose slightly from 54.6 to 54.7 in February, according to a report by FBN Quest, a unit of FBN Holdings. The report said the stability was to be expected...

World Bank’s $150m credit will boost Nigeria’s mining sector’s competitiveness – Olufon

The World Bank on Wednesday approved 150 million dollars credit to help increase the mining sector’s contribution to the Nigerian economy. The Senior Communication Officer of the bank, Ms Olufunke Olufon said in a statement in Abuja that the project would help to establish a...

Nigerians spent N6.7trillion on imported consumables, household items in 2015

Nigerians spent N6.7 trillion on importa-tion of consumables and household items in 2015, Minister of State for Industry, Trade and Investment, Mrs. Aisha Abubakar stated yesterday. She spoke in Kano at a stakeholders’ meeting on “Buy Made-in- Nigeria Products” by the Ministry in collaboration with...

CBN to sell dollar forwards to fuel importers, airlines

LAGOS, April 4 (Naija247news) - Nigeria's central bank said on Tuesday it will offer dollar forwards to be delivered within two months to offset a backlog of matured foreign exchange obligations to manufacturers, airlines, fuel importers and agriculture businesses. "Authorised dealers' accounts with the central...

Nigeria to raise tomato import duty to boost local production

ABUJA Feb 8 (Naija247news) - Nigeria will increase custom duties for tomato imports and waive tariffs for some farming equipment to stimulate local production and investment in the agriculture sector, its trade minister said on Wednesday. "We are going to go up. We will be...

Mines and Steel Road Map targets N9.7tn contribution to GDP by 2025

The Ministry of Mines and Steel Development says it will contribute $27bn about (N9.7tn) to the Gross Domestic Product by 2025. The ministry stated this in its Road Map in Abuja on Sunday, adding that the contribution would be achieved in three phases. It said that...

CBN: Nigeria’s Manufacturing PMI rises to 56.9 in April

Nigeria’s Manufacturing Purchasing Managers’ Index (PMI) rose to 56.9 in April, improving slightly from 56.7 index points in March, the Central Bank of Nigeria’s (CBN) PMI report published yesterday, shows. According to the apex bank: “The manufacturing and non-Manufacturing PMI report on businesses is...

Nigeria’s distributable revenue rose by 3.4 percent in December

ABUJA Jan 20  - Nigeria's distributable revenues to the government rose in December by 3.4 percent to 400 billion naira ($1.31 billion) as the country collected more royalties from oil, the minister of finance said in a statement on Friday. "Collection from royalties increased significantly,"...