The management of Dangote Industries Ltd. reacted to the Economic and Financial Crimes Commission’s (EFCC) raid on its Lagos head office regarding alleged foreign exchange transactions during Godwin Emefiele’s tenure as Governor of the Central Bank of Nigeria (CBN). In a statement, the multi-product group expressed its readiness to cooperate with the EFCC in its Read More…
Manufacturing
Inflation: Specific blueprint critical to manufacturing, other performances in 2024
By Rukayat Moisemhe, News Agency of Nigeria (NAN) Some Stakeholders in the manufacturing sector say Nigeria needs a specific blueprint to critically address the impact of inflationary pressures on all economic activities in the country. According to the World Economic Forum’s Global Risks Report 2023, the world’s top current risks are energy, food, inflation, and Read More…
Experts emphasise collaboration for Nigeria’s manufacturing growth
During the Manufacturers Association of Nigeria (MAN) Ikeja Branch public lecture in Lagos, experts highlighted the pivotal role of collaboration in fostering a robust manufacturing ecosystem and propelling industrialisation in Nigeria. Dr. Paul Alaje, a Chief Economist, underscored collaboration as pivotal in advancing the country’s industrialization. He emphasised the need for a holistic approach to Read More…
Stakeholders advocate increased local production to strengthen Naira amid volatility
As the Naira grapples with ongoing volatility, stakeholders are urging a boost in local production of goods and services as a key strategy to fortify the currency. The News Agency of Nigeria (NAN) highlights the recent breach of the N1,000 to the dollar threshold at the parallel market, coupled with significant weakening at the official Read More…
MAN, RMRDC, and partners to drive innovation and sustainability in African manufacturing industry
The Manufacturers Association of Nigeria (MAN), in collaboration with the Raw Materials Research and Development Council (RMRDC) and other key stakeholders, is gearing up to explore innovation, technology, and sustainability strategies aimed at accelerating the entire manufacturing industry in Africa. Speaking at a press conference in Lagos, Otunba Francis Meshioye, President of MAN, announced the Read More…
Sanwo-Olu assures manufacturers of continued support for business growth
Lagos State Governor, Babajide Sanwo-Olu, reiterated the state government’s unwavering commitment to supporting manufacturers and fostering the growth of their businesses within the state. He made this assurance during the completion ceremony of the first 2,000 vehicles assembled by GAC Motors in Ikeja, Lagos, marking a significant milestone for the indigenous automotive industry. The event, Read More…
Nigerian industries seek relief amid fuel subsidy removal challenges
The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has called upon the Federal Government to extend relief measures to all productive industries in order to mitigate the impacts of the removal of the fuel subsidy. At the 3rd Quarterly Council meeting of the association in Abuja, NACCIMA’s National President, Otunba Dele Read More…
Requiem for Production?
Anyone who still wonders why Nigeria and its citizens have become mendicants in spite of their rich natural endowments should take another look at the number of manufacturing companies that have gone under or relocated from the country in the last five decades. In the 70s and 80s, Nigeria-made goods were the gold standard in Read More…
New FG car industry growth plan sets the stage for local electric car manufacture
The first-ever National Investment Policy for Nigeria (NInP) has been approved for execution, and a new National Automotive Industry Development Plan (NADIP) covering the years 2023 to 2033 has also been adopted by the Federal Government. This was revealed by Otunba Adeniyi Adebayo, Minister of Industry, Trade, and Investment, in a statement issued by Mrs. Read More…
SON vows to rid Nigeria of substandard products
On Wednesday in Abuja, the Standard Organisation of Nigeria (SON) vowed to leave behind a nation devoid of the spread of subpar goods. Malam Farouk Salim, the director general of SON, made this statement at a press conference to announce the official start of the celebrations planned for the organisation’s 50th anniversary. The grand opening Read More…