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Saturday, August 8, 2020

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...

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...

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...

Nigerian manufacturers imported 1.4m MT of raw sugar in H1 2017

by Godwin Okafor with Agency Reports FG says it’ll resolve manufacturers’ hiccups As CBN say Nigeria imports $100m sugar annually DOMESTIC sugar manufacturers imported over 1.4 million metric tonnes of raw sugar into the country in the first half of 2017 (H1’17). The imports were...

Nigeria plans 142 bln naira Treasury bill auction on Feb. 15

LAGOS Feb 7 (Naija247news) - Nigeria plans to raise about 142.43 billion naira ($453.60 million) in short-dated Treasury bills at an auction on Feb. 15, the central bank said on Tuesday. The bank said it would raise 32.43 billion naira in three-month debt, 30 billion...

65% of Chinese firms in Nigeria not documented –Report

global consulting firm, Mckinsey, says out of the 930 Chinese companies operating in Nigeria, only 317 are documented by the Chinese Ministry of Commerce. According to a new research report titled, ‘Lions on the move II: Realising the potential of Africa’s economies’, there are over...

World Bank, BoI backs Nigeria’s machinery lending initiative for mining sector

World Bank and the Bank of Industry (BoI) are now actively in support of Nigeria’s initiative to secure and lend machinery to help small scale artisanal miners in mechanising and making safer their mineral exploitation and processing operations. Kayode Fayemi, minister of mines and steel...

Nigeria mulls reversal of EU’s ban on beans export

Plans are in top gear by the Nigeria Agricultural Quarantine Service (NAQS) to get the European Union EU lift its ban on exportation of beans from Nigeria to its member countries. The Coordinating Director of the agency, Dr. Vincent Isegbe, who disclosed this at the...

Local manufacturing in Nigeria expands to 58.2% as employment dips

The Manufacturing PMI in the month of October stood at 58.2 index points, indicating expansion in the manufacturing sector for the thirty-first consecutive month. The index grew at a faster rate when compared to the index in September. Thirteen of the 14 surveyed subsectors...

FirstBank: Towards reviving Nigeria’s textile industry

By Chinyere Joel- Nwokeoma (NAN) For many years, until the early 1980s, the Nigerian textile industry was the highest employer of labour, after the public sector. Sadly, the industry is in dire straits battling for survival in recent times. Among the challenges that confronted the sector...
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