Industry
17 Jan
FrieslandCampina WAMCO Nigeria PLC has appointed Roger Adou as managing director, effective January 1, 2024. He takes over from Ben Langat and will report to the President, the Middle East, Pakistan and Africa Business Group (MEPA), Ali Khan, and based in Lagos.
17 Jan
The Economic Report on Africa 2023 (ERA 2023) has revealed that achieving sustainable growth and building resilience requires structural transformation. It added that any successful industrial policy requires sectoral focus as well as getting the basics right...
17 Jan
The Illinois Department of Commerce and Economic Opportunity – the Office of Trade and Investment, Government of Illinois – is set to implement an inbound trade mission from the United States to Nigeria.
3 Jan
Nigeria's Terms of Trade (ToT) of all commodities recorded a slight decline of 0.03 percentage points in the third quarter of 2023, National Bureau of Statistics (NBS) has revealed.
3 Jan
As manufacturers and MSMEs kickstart a new business year, economic indicators do not look very promising as many industrialists are still reeling from the difficulties experienced in 2023, when many businesses experienced record losses arising from several factors.
27 Dec
In a bid to develop a framework to build and enhance consumer credit in Nigeria, the Presidential Council on Industrial Revitalisation has established a Technical Working Group with members from the Central Bank of Nigeria
27 Dec
Vice-President, Lagos Chamber of Commerce and Industry (LCCI) and head of the chamber’s Public Affairs and Advocacy Committee (PAAC), Prince Abimbola Olashore, has decried the exorbitant cost of testing and overly-rigorous processes local businesses...
27 Dec
To reward excellence, Crown Flour Mill, feted its distributors in Abuja and Lagos, hosting a customer forum to express gratitude to them for their patronage and support throughout the year. The Abuja event, which was held at Fraser Suites,
27 Dec
Total trade in goods and services (exports and imports) between the UK and Nigeria sits at £6.9 billion, an increase of 18.5 per cent or £1.1 billion, latest figures from the UK’s Department for Business and Trade have revealed.
20 Dec
The Intra-African Trade Fair (IATF) is a biennial event of the African Export-Import Bank (Afreximbank) in collaboration with the African Union (AU) and the AfCFTA Secretariat. This year’s edition, IATF2023, took place in Cairo, Egypt last month.
20 Dec
Cross-border digitally delivered services are the fastest growing segment of international trade, with new players emerging, registering an almost fourfold increase in value since 2005, a new report has said.
19 Dec
Determined to increase shareholders' confidence in its business, African Alliance Insurance Plc has delivered a gross premium income of N7.109 billion in the 2022 financial year. The underwriter, at the company’s 53rd and 54th yearly general meeting in Lagos, also declared an annuity claims payment of N4.263 billion. Chairman of the underwriting firm, Ogwemoh Sylva,…
1 day ago
A foreign investor at TLG Capitals, Isaac Marshall, has attributed the naira gain to the decision of the Central Bank of Nigeria (CBN) to clear the FX backlog. Nigeria's foreign exchange (FX) reserves have fallen to a six-year low, Marshall said in a statement on his LinkedIn account on Thursday. He stated that this decline…
1 day ago
Stakeholders in the insurance and pension industry have called on operators in the sectors to adopt artificial intelligence (AI) to drive business expansion in the country.
1 day ago
Though it does not have the power to regulate prices, the Federal Competition and Consumer Protection Commission (FCCPC) will deploy an existing legal framework to enforce fair competition and consumer protection provisions to achieve fair prices of commodities.
1 day ago
Inflation in Nigeria is reaching its peak now and will decelerate toward the middle of the year, Director-General of the Budget Office of the Federation, Ben Akabueze, has said.
1 day ago
Nigerian Breweries (NB) Plc has disclosed that the proposed N600 billion recapitalisation scheme by way of rights issue would settle N153 billion outstanding foreign exchange (FX) losses and part of its local bank debt facility.
1 day ago
The International Renewable Energy Agency (IRENA) is seeking a new approach to energy security amidst geopolitical concerns and a push from fossil fuels.
1 day ago
The Chartered Institute of Bankers of Nigeria (CIBN) 2024 yearly lecture, slated to take place on April 23, at the Civic Center, Victoria Island, Lagos, has its theme as "Improving Availability of Credit in the Nigerian Real Economy: The Critical Importance of Liquidity."
1 day ago
The International Agro Original Equipment Manufacturers (OEM) has called for the exemption of all agriculture equipment from all forms of taxes, import duties, Value Added Tax and other levies for at least two years to enable Nigeria to become self-sufficient in food production.
1 day ago
The Organised Private Sector (OPSN), comprising top Business Membership Organisations (BMOs), has warned that over 65 per cent of private businesses, especially manufacturing concerns and SMEs, may be forced to close down due to the over 200 per cent hike in electricity tariff. The BMOs, comprising the Manufacturers Association of Nigeria (MAN), National Association of…
1 day ago
Wema Bank has launched an anti-fraud campaign to protect its customers and other Nigerians against fraudulent activities perpetrated by some wallet accounts and fintech partners.