The Manufacturers Association of Nigeria (MAN) says that the disruptions to the Strait of Hormuz – the global shipping routes occasioned by the US middle East War, have started arriving on the doorsteps of domestic factories in Nigeria. The sectoral groups being mostly impacted are Chemical and Pharmaceuticals including the Food, Beverage and Tobacco Industries….
Ultimum Limited, the manufacturers of Razzl brand of carbonated soft drinks has commissioned its state-of-the-art beverage manufacturing plant in Aba, Abia State. Razzle beverages include Razzl Pamplemousse (a unique and special grapefruit flavour), Razzl Cola, Razzl Orange, and Razzl Lemon. Otti described the investment as a clear signal of economic revival and growing investor confidence…
The President of Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA), Nnanyelugo Onyemelukwe, praised the Dangote Group’s commitment to the growth of the domestic economy. He gave the commendation during the ongoing 37th Enugu International Trade Fair organised by the chamber . “it is obvious that Dangote Group has added a lot of value…
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…
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 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 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…
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…
•©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…
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,…
