(Business Day) The shutdown of textile companies across Nigeria has weakened Nigeria’s cotton production, pushing the crop into near-oblivion. Cotton is a critical plant-based raw material for textiles, with others being jute, hemp and sisal. Nigeria produces about 51,000 metric tons of cotton from over 300,000 tons in 1980s. The low cotton production is attributed…
Ajayi-Kadir emphasised that while the government sees the tax stamp as a way to curb smuggling and counterfeiting, and to enhance transparency, the global evidence does not support its efficacy.
The Centre for the Promotion of Private Enterprise (CPPE) has critiqued the Raw Materials Research and Development Council [RMRDC] Bill in the National Assembly, calling for its withdrawal. The RMRDC Bill proposed by Senator Peter Onyekachi Nwaebonyi, which aims to ensure local processing of at least 30 percent of Nigeria’s raw materials before exportation, has…
▪︎Aliko Dangote with Sen Heineken Lopkobiri. Photo credit: Sen Heineken Lopkobiri’s X. In Summary 1. Nigeria and Africa can become completely self-sufficient in petroleum products, and saves annual imports bill of $17 billion. 2. Nigeria must develop a refining capacity of 1.5 million barrels per day and prioritise domestic crude supply obligations. 3. He urged…
Ekperikpe Ekpo, during the flag-off of the programme at the Apo Resettlement area of Abuja, said that the government is determined to increase domestic gas usage through the free distribution of gas cylinders with a target of moving at least one million homes to clean cooking gas by 2030.
Dr Olusegun Aganga, the former Minister of Industry, Trade and Investment, urged the federal government to declare the manufacturing sector a national priority sector and back it up plans, policies and money.
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Cardoso made the disclosure on the occasion of the renaming of the edifice The Wole Soyinka Centre for Culture and the Creative Arts, by President Bola Tinubu, as parts of events to mark Nigeria’s 65th independent anniversary, yesterday.
The Manufacturers Association of Nigeria (MAN), on Thursday, called on the federal government to continuously improve macroeconomic indices, citing the cost of manufacturing shipment which rose to 22.16 percent in Q1 2024 from the 19.48 percent recorded in Q4 2023. Dr Oluwasegun Osidipe, Director of Research and Advocacy, MAN, presented the Q1 2024 MAN CEO’s…
The agreement was signed in Yaoundé on Wednesday by Nigeria’s Minister of Defence, General Christopher Musa (retd.), and Cameroon’s Minister Delegate at the Presidency in charge of Defence, Mr Joseph Assomo, following two days of deliberations by defence and security experts from both countries.
