The BFI Group and CNCEC International have signed $1.2 billion investment agreements to revive the long-dormant 135MMscfd Gas Processing Plant at ALSCON in Ikot Abasi, Akwa Ibom State. The Minister of Petroleum Resources (Gas), Ekperikpe Ekpo, broke the news today at the agreement signing ceremony. Ekpo , on his official X, on Tuesday, said, ”…
BUA Industries Limited has secured US$200 million Corporate Finance Facility from the African Export-Import Bank (Afreximbank) to boost its expansion plans. In a statement, Afreximbank said that the first tranche of $150 million was disbursed on October 16, 2024 and the balance of $50 million disbursed yesterday, 11, November, 2024. Mrs. Kanayo Awani, Executive Vice…
With Nigeria’s power supply remaining inconsistent and expensive, manufacturers face significant challenges in maintaining production costs and scaling their operations.
The General Council of the World Trade Organization (WTO) said today – 9 November- that nominations for the position of Director-General closed yesterday, 8 November and that the incumbent Director-General, Ngozi Okonjo-Iweala, is therefore the only candidate for the role. Ambassador Petter Ølberg of Norway, Chair of the General Council, informed the member countries via…
▪︎State House Photo The Federal Government has brought onboard Mr Innocent Idibia(Tuface) to create more awareness in the country on MSMEs, especially among the youth in the entertainment and the creative industry. The Brand Ambassador partnership agreement was signed by Tuface and Mr Tola Adekunle-Johnson, the Senior Special Assistant to the President on Job Creation…
▪︎Photo (from left-hand): Representative of DIMEX Shipping, CSC Lauretta Utubor, representing Comptroller Trade Facilitation, Comptroller Olomu, Customs Area Controller Apapa, Mr. Olusegun Olutayo, Nigeria AfCFTA Coordinating Office, Mr. Girdhar Chandak, Commercial Head. Nigeria has commenced full participation in the African Continental Free Trade Area (AfCFTA) with its first export of Lucky Fibres Ltd hair products to…
The constant bickering between Dangote Industries Limited, the owners of the Dangote Petroleum Refinery, and oil marketers has snowballed into a court case at the Federal High Court in Abuja. Three oil marketers- AYM Shafa Limited, A. A. Rano Limited., and Matrix Petroleum Services Limited, are asking the Abuja Federal High Court to dismiss a…
Mr Devakumar Edwin, the President of the Chemical and Non-Metallic Products Employers Federation (CANMPEF), says that Nigeria can earn its position among industrialized nations if the Federal Government gives immediate attention to policies that promote growth, investment, and innovation. Devakumar Edwin, who is also the Vice President of Oil and Gas at Dangote Industries Limited…
▪︎The new Ministers with VP Kashim Shettima and President Bola Tinubu/ State House photo. Dr Jumoke Oduwole officially took over today as the Industry, Trade and Investment Minister. During the sworn-in ceremony at the Presidential Villa, Dr Oduwole pledged to maximize benefits from the African Continental Free Trade Area (AfCFTA) to support Nigerian exports and…
▪︎Aliko Dangote and Minister of petroleum Resources, Heineken Lopkobiri. File Photo “IF anyone claims that they can land PMS at a price cheaper than what we are selling at the Dangote Refinery, then they are importing substandard products and conniving with international traders to dump low quality products into the country, without concern for the…
