Twinings Boosts Local Manufacturing of Ovaltine in Nigeria By £24mn
British beverage maker Twinings Ovaltine is pumping a fresh £24 million into its Lagos manufacturing…
Twinings Boosts Local Manufacturing of Ovaltine in Nigeria By £24mn
British beverage maker Twinings Ovaltine is pumping a fresh £24 million into its Lagos manufacturing facility in an efforts to strengthen the bilateral trade between Nigeria and the United Kingdom. This is disclosed in a statement a statement issued by the UK’s Department of Business and Trade. It said that the investment will create over…
Nigerian Manufacturers Seek Subsidies As Global Energy Cost Bites Harder
Image: Dr Jumoke Oduwole, Minister of Industry Trade and Investment The recent surge in global fuel prices, driven by geopolitical tensions, is compounding Nigerian manufacturers challenges, prompting their call for urgent government intervention to cushion the impact on small and medium enterprises and other critical sectors. Making the calls are the Managing Director/CEO of Coleman…
President Tinubu Working Out Tariff Slash for Media Industry
President Bola Ahmed Tinubu has assured the media industry owners of tariffs slash on imported newsprint, plates, chemicals, including radio and television broadcast equipment, which currently attract tariffs of 5 to 10 percent. The tariffs slash is aimed at cushioning the harsh economic headwinds affecting local media across all platforms. President Tinubu gave this assurance…
Indorama, NB, Genesis Seek Regulatory Approval to Build rPET Plant in Nigeria
Indorama Ventures Public Company Limited, Nigerian Breweries Plc and Genesis Power and Energy Solutions Ltd are pulling their resources together to build Africa’s largest state-of-the-art recycled PET (rPET) production facilities in Nigeria. Located in Lagos, the site represents an investment to develop a facility capable of producing up to 45,000 tons of food grade rPET resin…
Why global oil shocks hit Nigeria hard – Peter Obi
Nigeria’s Presidential hopeful under the African Democratic Party (ADC) Peter Obi, has said Nigeria’s recurring vulnerability to global economic shocks, particularly in the energy sector, is a direct consequence of poor planning and the absence of strategic buffers. Obi made the observation in a post on Friday while reacting to the recent increase in fuel…
Strait of Hormuz disruptions: Implications for global trade and development
•©Shutterstock/AU USAnakul The Strait of Hormuz is one of the world’s most critical maritime chokepoints, carrying around a quarter of global seaborne oil trade and significant volumes of liquefied natural gas and fertilizers. UNCTAD reports that the ongoing military escalation in the region has disrupted shipping flows through this narrow passage. The resulting ripple effects…
Traders Resist Takeover of Lagos International Trade Fair Complex by State Govt
Image: Minister of Industry, Trade and Investment, Jumoke Oduwole Commercial activities at the Lagos International Trade Fair Complex were disrupted today as traders shut down the facility while protesting a proposed takeover of the market’s management by state and local government authorities. This was amidst the visit of the Minister of Industry, Trade and Investment,…
IATF2027 Nigeria: What To Expects
• IATF2027 Host Signing Ceremony ( From left ) : Kanayo Awani, Executive Vice President, Intra-African Trade & Export Development, Afreximbank; H.E.Francisca Tatchouop Belobe Commissioner for Economic Development, Trade, Tourism, Industry and Minerals, African Union Commission; Dr. George Elombi, President and Chairman of the Board of Directors of Afreximbank, Chief Olusegun Obasanjo, Chair, IATF, Dr….
Bakrin Secures N10bn Sugar Projects Acceleration Fund for Greenfield Projects
The Executive Director of Public Sector and Intervention Programmes at BOI, Hadiza Shuaib, disclosed that the bank will serve as the fund manager for SPAF while NSDC will provide sector leadership and technical guidance.
Dangote Electricity is Coming,says Aliko
The President of Dangote Group, Aliko Dangote, says that electricity generation for Nigerians is his next investment. Dangote stated this in a recent interview with New York Times. Dangote, whose conglomerate spans cement, sugar, salt, fertiliser, and petrochemicals, said, ” We have to industrialise Africa.” He emphasised that his next focus areas include the steel…
