The regulations seek to prohibit the production and use of single-use plastic products below 80 microns in thickness pursuant to Section 26(1), impose taxes on shopping bags with wall thicknesses ranging from 30 to 50 microns under Section 26(2), and restrict a wide range of plastic products listed in the Eleventh Schedule.
On July 29, 2025, UAC Nigeria announced that it had reached an agreement to acquire CHI Limited, the manufacturer of popular beverage and dairy brands such as Hollandia and Chivita, from The Coca-Cola Company.
▪︎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…
The Central Bank of Nigeria on Friday announced the introduction of the Nigerian Overnight Financing Rate (NOFR) as a new benchmark for the country’s money market, aimed at improving transparency and strengthening monetary policy transmission. The disclosure was contained in a press statement issued by the CBN’s Acting Director of Corporate Communications, Hakama Sidi-Ali. According…
The big manufacturers being reached out to across the country includes Innoson Vehicle Manufacturing Company, Dangote Cement, LaFarge, Julius Berger, MTN, Airtel, Oando, Transcorp, Marriott, Eko Hotels, TotalEnergies, Obasanjo Farms, R.T Briscoe, Dantata Organisation, Nord Motors and many others.
Baladna’s Marketing and Communications Director, Aladdin Idilbi, has clarified that the Qatari firm and the Ogun State government hadn’t signed any agreement on building a multi-million dollar factory. Idilbi, in a WhatsApp message, said, “To clarify, the visit to Ogun State Governor, Dapo Abiodun, was purely exploratory, aimed at assessing potential sites for arable and…
The German Federal Ministry for Economic Cooperation and Development (BMZ) is contributing EUR 600,000 (approximately CHF 560,000) to the Standards and Trade Development Facility (STDF) to help developing economies and least-developed countries (LDCs) meet international food safety, animal and plant health standards for trade and improve their access to global and regional markets. The STDF is…
Reacting, the Director-General of the Manufacturers Association of Nigeria, Segun Ajayi, explained that the deficit is not only a result of consumer choices but also of government procurement patterns.
The Nigeria Customs Service (NCS) has again been commended by the Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, for its remarkable strides in customs modernisation and trade facilitation. The recognition came during the 145th/146th Sessions Opening of the Customs Co-operation Council, held on Thursday, June 26th, 2025, at the World Customs Organisation…
A strong domestic refining base is fundamental to building a resilient, energy-secure and sovereign economy. It is also critical for job creation, foreign exchange conservation, macroeconomic stability and the development of export-oriented refining capacity.
