Are You A Victim of Supermarket Frauds?
An item is tagged N800, and when you pick some quantity with a known price, you will be shocked that the price at the pay counter will be over N1000 per item.
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MAN: Nigeria’s Manufacturing Sector Outlook in 2024
2024 is here. What are the themes and trends to watch in the manufacturing sector in Nigeria? Segun Ajayi-Kadir, the Director-General of Manufacturers Association of Nigeria(MAN) , pinpoints the following anticipated developments and trends: ▪︎Dwindling GrowthA quick examination of the trajectory of manufacturing globally portrays a struggling sector that is now more than ever challenged…
Closure of JSM Syringe Factory : The Bigger Picture
There is a bigger picture to see beyond the closure of Jubilee Syringe Manufacturing (JSM) Company Limited which forced the management to have declared the over 200 staff temporarily redundant. In a memo to the staff, the Akwa Ibom State based company, which was commissioned in 2017 by former Vice President, Yemi Osinbajo, told the…
UNIDO: Global Industrial Sectors Post 2.3% Growth in 2023
The United Nations Industrial Development Organisation (UNIDO) says that globally, there was a 2.3% growth in industrial sectors, encompassing manufacturing, mining, electricity, water supply, waste management, and other utilities, signalling a post-pandemic recovery. UNIDO, in its 29th edition of the International Yearbook of Industrial Statistics, said that manufacturing accounted for most of this dynamism, with…
Retirement Advice For All Employees
Don’t ever compete with your bosses. You will burn your fingers
NIPC To Investigate Impacts of Tax Holidays on Economy *34 Industries Benefit in 2023
▪︎Executive Secretary of NIPC, Mrs. Aisha Rimi. The Nigerian Investment Promotion Commission (NIPC) says it will investigate and publish the impacts assessment of the federal government’s tax holidays to industries. Tax holiday is an incentive granted by the government to qualifying industries exempting them from the payment of corporate income tax for an initial period…
Mkulazi factory to ramp up sugar production for Tanzania users
(The East African)A sixth sugar factory has started production, boosting the Tanzania government’s efforts to cut down on sugar imports and control retail prices. The Mkulazi Sugar Factory, a joint venture by the National Social Security Fund (NSSF) and the Tanzania Prisons Service started production in December, aiming to produce 50,000 tonnes per year. The…
Vitafoam Yet To Introduce Renewable Energy Into Its Power System
The Vitafoam Group is yet to introduce renewable energy into its power system. Checks by Industrialtimesngr on the company’s energy management and Co2 footprint, shows that the primary source of energy is the National grid through Power Holding Company of Nigeria (PHCN). However, as back-up to the primary source are diesel powered generators installed across…
Vitafoam Nigeria New Year Dividend For Shareholders: N1.9bn FY 2023
▪︎Taiwo Adeniyi, GMD/CEO The Board of Vitafoam Nigeria Plc will present a dividend of N1.951,317,000, representing 1.56 kobo per share to shareholders for approval at the next annual general meeting in 2024. This is even as the company says that it’s expansion drive to Sierra Leone has begun to yield positive outcome by way of…
Nigeria:Tobacco Industry Regulator Fines BAT $110m For Market Violations
“We are not attempting to shut down businesses, but they must understand that if you snooze, you lose. You can’t manipulate the market and expect nothing to happen.” That’s Babatunde Irukera, the Executive Vice Chairman of the Federal Competition and Consumer Protection Commission (FCCPC). He cited a substantial fine of $110 million to be paid…