UNIDO and WTO are mobilising USD5 billion in investment over a 10-year period, to establish modern textiles and garment industry across West and Central Africa. Ngozi Okonjo-Iweala, WTO Director-General, disclosed during the WTO 14th Ministerial Conference. “Today, around 98 percent of the region’s cotton is exported as raw fibre, although the region has the potential…
Aluminium prices climbed around six per cent in early trading on Monday after Iran attacked two major plants in the Gulf that produce the widely used metal, raising concerns over supply disruptions, according to AFP. Gains later reduced, though prices were still up 4.2 per cent at $3,435 per tonne on the London Metal Exchange….
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…
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…
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,…
The Executive Director of Public Sector and Intervention Programmes at BOI, Hadiza Shuaib, disclosed that the bank will serve as the fund manager for SPAF while NSDC will provide sector leadership and technical guidance.
The President of Dangote Group, Aliko Dangote, says that electricity generation for Nigerians is his next investment. Dangote stated this in a recent interview with New York Times. Dangote, whose conglomerate spans cement, sugar, salt, fertiliser, and petrochemicals, said, ” We have to industrialise Africa.” He emphasised that his next focus areas include the steel…
