The Centre for the Promotion of Private Enterprise (CPPE) has critiqued the Raw Materials Research and Development Council [RMRDC] Bill in the National Assembly, calling for its withdrawal. The RMRDC Bill proposed by Senator Peter Onyekachi Nwaebonyi, which aims to ensure local processing of at least 30 percent of Nigeria’s raw materials before exportation, has…
PREPARATIONS are in top gear for the 2025 edition of the Nigeria Manufacturing Equipment / Nigeria Raw Materials Exhibition (NME/NIRAM). Organised by the Manufacturers Association of Nigeria (MAN) and the Raw Materials Research and Development Council (RMRDC) , this year’s segment will hold in Lagos at the Balmoral Hall of the Federal Palace Hotel, August 5-7. Segun…
The Managing Director of NIXIN Paper Mill, Eric Wang, highlighted the potential of Nigeria’s paper industry, comparing it with his hometown in China, with a population of just 300,000, supporting a paper factory that consumes over 20,000 tons monthly. The Lagos Chamber of Commerce and Industry (LCCI) attracted over $60 million investment into the Nigeria’s…
The Africa Export-Import Bank (Afreximbank) has disbursed $50 billion for the execution of various projects in Nigeria in the last 19 years. The President of the bank, Prof. Benedict Oramah, disclosed this during the recently commissioned Afreximbank Africa Trade Centre, AATC, in Abuja, where he also reaffirmed the Bank’s vision to dismantle trade barriers and…
SINOMACH, a Chinese conglomerate, is investing $1 billion in Nigeria’s sugar Industry. The memorandum of understanding for the development of a sugarcane cultivation and processing plant capable of producing one million metric tonnes of sugar has been signed by the investor and the National Sugar Development Council (NSDC). In the agreement, SINOMACH is set to…
The National Agency for Science and Engineering Infrastructure (NASENI) has unveiled its different brands of made-in-Nigeria products in Katsina State as part of efforts to strengthen Nigeria’s industrial sector and reduce reliance on imports. The products, which include a Hilux vehicle, laptops, phones, batteries, smart TV, microwaves, water dispensers, hydraulic equipment, were unveiled at the…
Photo : (L-r) Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem; Governor of Zamfara State, Dauda Lawal; Federal Minister of Industry, Trade and Investment of Nigeria, Dr. Jumoke Oduwole; National President, Nigerian-American Chamber of Commerce (NACC), Sheriff Balogun and the President/CEO, African Finance Corporation, Samaila Zubairu. The new leadership of the Nigerian-American…
• Segun Ajayi-Kadir, MAN DG, during a factory visit to a company in Kano ,recently. The Manufacturers Association of Nigeria (MAN) has called on the Federal Government not to bow to potential pressure to reciprocate by reducing its own tariffs on U.S. goods entering the Nigerian market. MAN, in its position document on the new…
Nigerians are in shock, disbelief, and tears after another Ponzi scheme named CBEX crashed early this week. Weeks ago, many who invested in the scheme advertised their newly-found pathway to ‘financial freedom’ on social media with screenshots of account balances from $1,000, $10,000, and $85,000. As of Tuesday morning, their accounts have been blanked, with…
Cover image: CBN Governor, Olayeni Cardoso The Central Bank of Nigeria (CBN) has called on local manufacturers and exporters to explore financing opportunities available through various government agencies as part of broader efforts to ease pressure on the naira and strengthen the country’s export base. Dr Aisha Olatiwon, the Director of Consumer Protection and Financial…
