Manufacturing
Manufacturing and general industrial sector news.
$350 million Cabotage Fund: NIMASA gives Banks 72-hour ultimatum to release modalities
The modalities to be released would include interest rate, tenure, collateral and requirements needed to access the fund.
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Nigerian manufacturers pay 74 different taxes – Economist
Dr Biodun Adedipe, said that Nigerian manufacturers are confronted with about 74 different taxes from their factory to the market...
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FG says it has revoked 3,402 mining titles
The Nigerian government released a list of 3,032 defaulters in the mining industry and revoked 3,402 titles
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Nigeria to begin local aircraft assembly, as FEC approves N2.3 billion for Magnus Aircraft
FG says the total contract sum is N2.3 billion with a completion period of 18 months.
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Nigeria’s Free Trade Zones rise to 46, attracted $30 billion in investments – Buhari
Buhari revealed there has been a geometric increase in the number of FTZs from 21 to 46.
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Nigeria’s non-oil exports rises to $4.8 billion in 2022 – NEPC
NEPC says this is the highest non-oil export record in its books since it was formed.
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Indian companies invest $19 billion in Nigeria in 40 years
$3 billion of that is in pharmaceuticals manufactured in Nigeria by Indian companies.
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We need to de-risk mining sector to attract investment – Minister of Mining
Minister of Mining and Steel Development, Lekan Adegbite, has emphasized the need to de-risk the mining sector
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Jeff Bezos-backed Zambian startup invests $150 million in cobalt exploration
KoBold aims to create a “Google Maps” of the Earth’s crust, with a special focus on finding cobalt deposits
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Consumers bear the brunt as consumer goods makers’ costs hit N1.373 trillion in 9 months
The manufacturers' operating expenses increased by 28.20% to N1,373 billion between January and September
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