“Reserves don’t drive industrialisation, infrastructure does. The future of Nigeria’s industrial growth lies in our ability to harness our vast natural gas resources. Businesses that align with this vision will not only survive but thrive in the years to come.” – Audrey Joe-Ezigbo, Managing Director of Optimera Energy.
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Scrap And The Steel Industry
By Felipe Maciel, Manager, Environment and Climate Change Steel scrap is a vital part of the whole steel industry and its importance in reducing CO2 emissions, conserving resources, and driving the economics of the industry is only growing, but the difficulties in each of the stages of scrap processing pose challenges to steelmakers. The pressure on…
Nigeria: Sugar Industry’s Regulator hobnobs with Chamber of Commerce for investments Prospecting
The National Sugar Development Council (NSDC) has commenced talks with the Abuja Chamber of Commerce and Industry (ACCI) for potential collaborations aimed at mobilising about $5 billion to drive investments in the sugar subsector. The proposed agreement followed the visit of ACCI President, Mr. Emeka Obegolu, to the Executive Secretary of NSDC, Mr. Kamar Bakrin,…
FG Tags Onne Port Notorious for Arms Entry
The Federal Government has declared a state of emergency at the Onne Port in Rivers State following the repeated incidents of importation of dangerous cargo, including arms and ammunition through this port. To this effect, the government said it is immediately implementing emergency protocols at Onne Port for the next three months by conducting thorough…
Dangote Unveils refinery’s first petrol sample
The President of Dangote Group, Aliko Dangote, has presented the first sample of Premium Motor Spirit, commonly known as petrol. Dangote made the presentation on Tuesday during a broadcast at his refinery located in the Ibeju-Lekki area of Lagos State. The refinery, with a capacity of 650,000 barrels per day, has been engaged in a…
China-Africa Cooperation Forum
Lagos State Governor, Babajide Sanwo-Olu, attending the 2024 Summit of the Forum for China-Africa Cooperation alongside President Bola Ahmed Tinubu., NGF Chairman Governor AbdulRahman Abdulrazaq and Hon. Minister of Finance Wale Edun, in Beijing.
NEPC says ‘Operation Double Your Exports’ yielding results
▪︎Nonye Ayeni, NEPC’s ED/CE The Nigerian Export Promotion Council (NEPC) has affirmed that its “Operation Double Your Exports” initiative, positively influenced the sector’s performance as it recorded $2.7 billionnon-oil exports in the first half of 2024. This represented a 6.26 per cent increase from the $2.5 billion recorded during the same period in 2023. This…
Etuh, Danjuma Buy Notore Chemical for $150m
▪︎Thomas Etuh Thomas Etuh’s Tak Agro and Theophilus Danjuma’s TY Holdings, have acquired Notore Chemical Industries Plc in Onne, Rivers State, for $150 million. “We put $150 million into an escrow account. Being a publicly quoted company, we were made to go through a bid process and won the bid,” Etuh told BusinessDay.“I am excited…
Iron Dealers Await Outcomes of SON Reports on Substandard Steel to NASS
The Iron Rod and Steel Distributors Employers of Nigeria (IRSDEUN) is demanding the outcome of the reports on suspected iron rod producers from the Standard Organization of Nigeria and Tax laws from the Federal Inland Revenue Service, as mandated by the House of Representatives Committee on Steel Development. Industrial Times, learned that in a letter…