Ajaokuta Steel Plant Coming Back on $2bn Funding – Minister
Group photo of the Minister of Steel Development, Prince Shuaibu Abubakar Audu, and the Russian consortium led by TPE. Image Credit: Bayo Onanuga ‘s X
Companies & Regulators
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PZ Cussons to stop manufacturing in Nigeria, entire Africa
▪︎Jonathan Myers, CEO of PZ Cussons Group PZ Cussons Group is considering to move its operations in Africa to where the business can be most competitive. Jonathan Myers, CEO of PZ Cussons Group, disclosed this in a statement, and said the group is considering to exiting the continent, partly driven by economic challenges in Nigeria such as…
Presidential CNG Initiative Set For Rollout
By Bayo Onanuga ▪︎CNG Vehicles production factory. Source: X After the removal of the fuel subsidy on May 29, 2023, President Bola Ahmed Tinubu launched the Presidential CNG Initiative in October last year to deliver cheaper, safer and more climate friendly energy. The CNG Initiative was designed to deliver compressed natural gas especially for mass…
Dangote Returning Nigeria To Oil Exporter
From the 1960s up to 2010, Nigeria refined and exported millions of barrels per day of crude oil and petroleum products to the United States of America and other countries.
MAN Backs Erisco’s Action on Chioma for defamation
▪︎Assures Amicable Resolution ▪︎A photo collage of the CEO of Erisco Foods Limited, Mr Eric Umeofia, and Chioma Okoli. The Manufacturers Association of Nigeria (MAN) says that the actions taken by Erisco Foods Limited – the manufacturers of Nagiko tomato paste, on Chioma Okoli, were justified. The Association assures the public that it will resolve…
Nigeria Lauds ANRML $600m Iron Ore Investment In Kaduna
” The $600 million Iron Ore Mining & Processing Facility owned by the African Natural Resources and Mines Limited (ANRML) in Kaduna state, is a significant stride in Nigeria’s mining sector.” This statement was made by Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite. “Alake Dele and I inspected the $600m ANRML investment in…
Fan Milk To Off-take Raw Milk From Obasanjo Farms
Fan Milk PLC, a subsidiary of Danone Company, has signed a partnership agreement with Obasanjo Farms Nigeria Limited, to supply raw milk for its operations. Chief Olusegun Obasanjo, the Chairman of Obasanjo Farms Limited, signed on behalf of the Farms, while Mr Vikram Agarwal, Global Chief Operations Officer Danone, signed for Fan Milk PLC. In…
Like Lagos, Oyo State Bans Takeaway Packs For Food Packaging
The Oyo State Government has banned the use of styrofoam, popularly called takeaway packs for packaging food. The State’s Commissioner for Health Oluwaserimi Ajetunmobi, stated this during the Food Safety Stakeholders Forum held today, at the Conference Room of the Ministry in Ibadan. Ajetunmobi said the menace of food poisoning, indiscriminate use of chemical products…
NAFDAC Recalls Fake Arla Dano 14kg Cream Milk
“Anyone possessing the counterfeit Arla Dano 14g full cream milk powder is advised to submit stock to the nearest NAFDAC office.” The National Agency for Food and Drug Administration and Control (NAFDAC) gave this directives to alert consumers, ditributors and retailers. In the statement, NAFDAC, said that the alert was as a result of investigations…
Unilever Is Not Doing Well in Ghana – Report
…the receivable from Unilever Ghana Limited was N202, 528 million for the period ended. Incomes received by Unilever Plc from its subsidiaries as reported in the Unilever Nigeria Plc unaudited interim report for the twelve months ended 31st December 2023, shows that its operation in Ghana is not robust. Analysis of the group’s revenue reveals…