Patronage of Second-Hand Clothing Threatens Employment for Over One Million Nigerian Tailors
The smuggling of second-hand clothing into Nigeria poses a significant threat to the livelihoods of approximately one million five hundred thousand Nigerian tailors. Mr. Alok Bhardwaj, Managing Director of Sunflag Nigeria Ltd., conveyed this critical statistic to the Minister of State for Industry, Trade and Investment, Sen. John Enoh, during a recent visit to the…
President Bola Ahmed Tinubu: “This partnership conversation with Google aligns seamlessly with our Renewed Hope Agenda, which emphasises economic diversification through industrialisation, digitisation, and innovation. This will empower businesses, create new opportunities, and establish Nigeria as a significant player in the global digital economy.”
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Africa Energy Bank to take off Q1: 2025
Exciting developments are on the horizon with the anticipated launch of the Africa Energy Bank (AEB) set for the first quarter of 2025. Heineken Lokpobiri, Nigeria’s Minister of State for Petroleum Resources, has announced that this significant financial institution will be headquartered in Nigeria’s capital, Abuja. With a deadline of January 28, 2025, for its…
Nigeria Customs Service Suspends Implementation of 4% FOB Levy
On Tuesday, the Nigeria Customs Service (NCS) announced a temporary suspension of the implementation of the four percent levy on the Free On-Board (FOB) value of imports. Abdullahi Maiwada, the spokesman for the service, communicated this development in a statement issued from Abuja. The suspension aims to facilitate comprehensive stakeholder engagement and consultations regarding the…
Lagos State Launches Industrial Policy 2025-2030
The Lagos State Government has unveiled its new Industrial Policy (2025-2030) to foster a sustainable industrial environment. Commissioner for Commerce, Folashade Ambrose presented the policy during the Lagos State Industrial Policy Consultative Assembly at Alausa Ikeja. Ambrose emphasized the need to realign industrial strategies with modern economic trends, sustainability, and global competitiveness. The policy aims…
Dangote Peugeot Highlights Features of The New 3008 GT Model
The official manufacturer and marketer of the Peugeot brand of vehicles in Nigeria, Dangote Peugeot Automobiles Nigeria Limited (DPAN), has taken another bold step towards regaining its leadership position in the auto market. This time, DPAN has commenced the assembly of the GT model of the wave-making Peugeot 3008, which has hit commercial success and…
Manufacturers Request Collaborative Action on Customs FOB Levy and NPA’s Tariffs
The Manufacturers Association of Nigeria (MAN) is reaching out to the Federal Government with a request for immediate engagement with the Nigeria Customs Service to reconsider the implementation of the 4% Free-on-Board Levy and the NPA’s 15% Ports Tariff. Segun Ajayi-Kadir, the Director-General of MAN, emphasized the need for collaboration on Tuesday, expressing the Association’s…
PAMA Anticipates Top Ten African Countries for Global FDI in 2025
The Pan African Manufacturers Association (PAMA) is looking forward to the top ten countries on the continent that are poised to attract significant foreign direct investment inflow in 2025. PAMA has identified these promising nations by analyzing their GDP, inflation, exchange rate, and interest rate trends over the past two years. Engr Mansur Ahmed, the…