24 C
Lagos, South Africa and New York
Monday, August 10, 2020

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...

Nigeria’s Business Activity Expands Stronger in Dec. ’18; Outpaces Global Manufacturing…

Recently released Purchasing Managers’ Index (PMI) survey report for December 2018 showed faster expansions in both the manufacturing and non-manufacturing businesses in line with anticipated increase in demand associated with the “seasonal” festive month coupled with electioneering spending activity. According to the survey, the...

Nigeria’s extractive industry has potential to generate N50 bln annually

Nigeria's extractive industryhas potentials to generate approximately N500billion naira annually from royalty, taxes and other fees, Acting chairman of the Revenue Mobilisation and Fiscal Commission, Shettima Umar Abba-Gana has said experts analysis on the viability of the mining sector has estimated that The...

With estimated $1 billion backlog of unmet dollar demand, Nigeria manufactures lament over foreign currency scarcity

A Nigerian manufacturers group says members can’t access dollars as the impact of the coronavirus pandemic and fall in oil prices have cut the flow of foreign currency to Africa’s top oil nation “It was pretty difficult to source forex from all the available windows,”...

Nigeria’s Cross River State Government partner Ex- Israeli Weapons Supplier to build cocoa processing plant

It is widely known that Nigeria’s Cross River State Governor Ayade has many grand ambitions and projects. With numerous projects ranging from a toothpick factory, rice mill, a piles and pylon outfit, instant noodles factory, and poultry farm. Indigenous people in Cross River State...

Nigeria Earned U.S.$2 Billion From Onne Free Zone in 6 Years – Umana

Lagos — The Federal Government of Nigeria realised a whopping $2 billion (N611 billion) as revenue from the operation of the Onne Oil and Gas Free Zone through the Nigerian Ports Authority (NPA) within the last six years. The Managing Director of Oil and Gas...

Nigeria: Indonesia set to Invest Billion of Dollars in Nigeria’s Solid Minerals and Mining Industry

Mining Monday, December 18,2017 An Indonesian government owned Mining Corporation P. T. Timah is set to invest billions of dollars in the Nigerian solid minerals and mining sector to boost production and increase non-oil revenue earnings in line with the present administration resolve to diversify the...

Nigeria central bank to clear backlog of dollar demand for importers

LAGOS, March 2  - Nigeria's central bank said on Thursday it will sell dollars via a book-building process to clear a backlog of dollar demand for companies importing machinery, airline equipment and petroleum products. Companies would be required to pay the naira equivalent for their...

Nigeria’s mining sector can generate N5 trillion annually – Minister

Nigeria’s Minister of Mines and Steel Development, Dr. Kayode Fayemi  has said that the nation’s mining industry has the capacity to generate N5 trillion annually from mining and exporting of vast solid mineral, with anticipated Gross Domestic Product (GDP) in excess of $25 billion...

CBN’s 60% forex allocation saved manufacturing sector from collapse – Report

Although the Central Bank of Nigeria’s preferential allocation of foreign exchange to the manufacturing sector was short-lived and fraught with controversies, a report has emerged showing that the initiative registered a huge impact and lent a boost to the manufacturing sector during the period. The...
WP to LinkedIn Auto Publish Powered By : XYZScripts.com
Open chat
Send us your story