Manufacturing/Industry

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L-R: Executive Director, Corporate Services, Nigeria Deposit Insurance Corporation (NDIC), Mrs. Emily Osuji supporting the representative of the MD/CE and Executive Director, Operations, Mr. Mustapha M. Ibrahim to receive the Industrial Training Fund (ITF) award as “Best Contributing Employer in Human Resources Development” for Year 2022, presented on behalf of the ITF DG, Sir Joseph Ari by the Abuja Area Manager, Mrs. Hauwa Mohammed
Manufacturing/Industry

NDIC emerges ITF Best Contributing Employer

Abuja, March 26, 2023 – The Industrial Training Fund (ITF) has conferred the award of “Best Contributing Employer in Human Resources Development” for the 2022 Service Year on the Nigeria Deposit Insurance Corporation (NDIC). The award was presented to the Corporation by the Director General, ITF, Sir Joseph N. Ari, who was represented by the Abuja Area Manager and Deputy Director, Mrs Hauwa Mohammed. Ari said that NDIC was the most compliant with the ITF Act through consistent periodic remittance of the statutory one per cent of its total staff …

Agriculture Capital market Manufacturing/Industry Money market

ECONOMIC AGENDA FOR INCOMING ADMINISTRATION

By – DR MUDA YUSUF The Nigerian economy is in a stumbling and fragile state and in dire need of a new direction.  The political transition offers a great opportunity to chart a new course. ECONOMIC GOVERNANCE The administration should establish quality economic governance consistent with tested economic principles and empirical evidence, and contextualized within socio-economic peculiarities. This is critical from the onset of the administration for signaling and investors’ confidence. Good economic governance framework would entail the following: FOREIGN EXCHANGE POLICY REFORM OIL AND GAS SECTOR REFORM OIL AND …

Manufacturing/Industry

Dangote, Sinoma sign agreement on 6Mta cement plant in Itori, Ogun State 

Lagos, Feb. 2, 2023 – Dangote Industries Limited (DIL) has signed an agreement with China Sinoma International Engineering to build a six million tons per annum cement plant in Itori, Ogun State. The agreement was signed by the Chairman of Dangote Cement Plc, Aliko Dangote, alongside the Group Executive Director, Strategy, Capital Projects & Portfolio Development, DIL, Devakumar Edwin, while China Sinoma Engineering was represented by its Group President, Yin Zhisong, and the company’s Chairman, Liu Renyue.  Dangote, speaking at the signing ceremony, said that new integrated cement plant on completion would strengthen the local …

Manufacturing/Industry

Nigeria’s vehicle industry attracts $1bn foreign investments

Abuja, Jan. 31, 2023 – Nigeria’s vehicle production industry attracted over $1 billion worth of foreign investments in 2022. Otunba Adeniyi Adebayo, the Minister of Industry, Trade and Investment, said this in Abuja on Tuesday during the 20th edition of President Muhammadu Buhari’s administration scorecard series.  He said that Nigeria had successfully revised its model of Bilateral Investment Treaty (BIT) to include a specific provision for investment facilitation.  Adebayo said the review of the National Automotive Industry Development Plan (NAIDP) was nearing completion. He said that the plan was going …

Business Solutions Manufacturing/Industry

Global unemployment to rise by 5.8% in 2023 – ILO

Lagos, Jan. 19, 2022 – The International Labour Organisation (ILO) says global unemployment rate will rise by 5.8 per cent in 2023. A new report by ILO on ‘World Employment and Social Outlook: Trends 2023 (WESO Trends) published on its website, reported this. It also projected that global employment growth would be only 1.0 per cent in 2023 which will be less than half the level in 2022. ILO said that the moderate size of this projected increase would largely be due to tight labour supply in high-income countries.  “This …

Manufacturing/Industry

Free trade zones attract N30bn investments

Kano, Jan. 18, 2023 – Free Trade Zones (FTZ) in Nigeria have attracted over $30 billion in investments. President Mohammadu Buhari said this on Tuesday at the inauguration of Kano Free Trade Zone’s new administrative building and Nigeria Special Economic Zones Institute in Kano. He said that the investments would continue to increase in the next few years with sustained incentives and an aggressive investment drive. The president, who was represented by the Minister of State, Industry, Trade and Investment, Maryam Katagum, said his administration had recorded geometric increase in …

General News Manufacturing/Industry

BoI receives 1m applications for NG-CARES MSME grants

Lagos, Jan.13, 2023 – The Bank of Industry (BoI) on Friday said it had received over one million applications for the NG-CARES MSME grants across the states. The NG-CARES is an initiative of the World Bank and the Federal Government to support the recovery of communities, households, and businesses affected by COVID-19. The bank said this in a statement on Friday that the programme was state-owned and state governments were fully responsible for funding and selection of beneficiaries. It said that the funding arrangement allowed each state the autonomy to …

ICT Manufacturing/Industry Oil and Gas

Consumers will be better protected in 2023 – agency

Lagos, Jan. 13, 2023 – Babatunde Irukera, the Chief Executive of the Competition and Consumer Protection Commission (FCCPC),  says operators in the power, manufacturing and digital sectors will experience stricter regulations in 2023. Irukera said in Lagos on Thursday that the FCCPC, in 2022, started more investigation and scrutiny of the power sector, fast moving consumer goods and the activities of digital lenders which had unraveled some irregularities that have laid foundation for the areas to focus on in 2023. He said the agency had started unbundling more of its regulatory …

General News Manufacturing/Industry

FG earmarks N3.25bn for 3 industrial parks

Kaduna, Jan. 10, 2023 – Prof. Mohammad Sani Haruna, the Chief Executive Officer of National Agency for Science and Engineering Infrastructure (NASENI), says the Federal Government has earmarked N3.25 billion for the first phase of three industrial parks to be built across the country. He said the parks would be sited in Nnewi in Anambra State,  Osogbo in  Osun State) and Igabi in Kaduna State.  The agency boss also said President Muhammadu Buhari will inaugurate the first made-in-Nigeria helicopter in Kaduna before he leaves office on May 29.  Haruna said …

General News Manufacturing/Industry

Momas metering coy signs MoU with Minnesota University on training

Lagos, Dec. 18, 2022- Momas Electricity Meters Manufacturing Company in Nigeria has signed a Memorandum of Understanding (MoU) with Minnesota State University on a partnership to train the company’s executives and others up to the degree of Masters in Business Administration (MBA). The MoU was signed on Friday in Lagos at the graduation ceremony of 150 beneficiaries of metering and electrical installations, sponsored by the Northeast Development Commission (NEDC). The ceremony was held at the Momas Electricity Meters Manufacturing Company in Orimerunmu, Mowe, Ogun State. The MoU provides for development, collaborations …