UN Trade and Development UNCTAD says that Strait of Hormuz disruptions has started weakening developing country currencies. UNCTAD, in its monitoring of changes in exchange rates against the dollar since the start of the military escalation (28 Feb 2026) till March 26, also said that the closure of the shipping line have started weakening global…
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…
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…
