Manufacturing/Industry

Showing: 61 - 70 of 103 Articles
Investment Manufacturing/Industry Money market

BOI, SMEDAN sign agreement to provide single digit interest rate loans to small enterprises    

Abuja, May 24, 2024 -The Bank of Industry (BOI) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have signed a Memorandum of Agreement (MoA) for the pooling of N1billion to provide single digit interest rate loans to nano and micro enterprises in Nigeria. By this agreement signed in Abuja on Wednesday), the two Federal Government-owned institutions are to deposit N500 million a-piece into a Matching Fund Account to be managed by Bank of Industry. Speaking during the signing ceremony, the Managing Director of Bank of Industry, Mr. …

Business Solutions Manufacturing/Industry

Fubara urges investors to take advantage of economic opportunities in Rivers

Port Harcourt, May 22, 2024 – Siminilayi Fubara, the Rivers State Governor, has called on local and foreign investors to take advantage of numerous economic opportunities in the state. He made the call in Port Harcourt on Wednesday at the Rivers State Investment Summit 2024 where he assured investors that the state was safe and ready to do business in spite of the ongoing political crisis. The governor said his administration believed in the growth and development of Rivers first and ahead of any political rivalry. “This event we tagged …

Investment Manufacturing/Industry

$50m soya oil refinery in Kaduna will produce 500,00 litres per day – Uba Sani

Kaduna May 14, 2024 – Uba Sani, the Kaduna State Governor, says the $50 million Soya Bean Oil Refining Plant being established in the state will produce 500,000 litres of soya oil per day. He said this at the groundbreaking ceremony of the Sunagrow International Oil Ltd in Kutungare in Igabi Local Government Area of the state. Sani said the plant would contribute to the economic development of Kaduna and Nigeria by creating thousands of direct and indirect jobs across the production value-chain. He said the plant would facilitate the transfer …

Business Planning Manufacturing/Industry

FG to exempt 95% of informal sector operators from taxes

Abuja, May 13, 2024 – The federal government is planning to exempt 95 percent of Nigerians in the informal sector from taxes.   Taiwo Oyedele, the Chairman of Presidential Fiscal Policy and Tax Reforms Committee (PFPTRC), said this in Abuja at the weekend while speaking to journalists at the end of a retreat organized of the PFPTRC. He said the move was to alleviate the burden of multiple taxation on small businesses and low-income individuals. Oyedele said those earning between ₦25 million and less per annum should be expected from …

Business Solutions Manufacturing/Industry

200 small industries receive FG’s N50,000 grants

Abuja, May 6, 2024 -About 200 small business have started receiving N50,000 grants promised by the Federal Government. The Federal Government offered the grants as part of its palliatives to cushion the effects of removal of petrol subsidy. Doris Uzoka- Anite, the Minister of Industry, Trade and Investments, announced this at the weekend, adding that the remaining 800,000 would get theirs before the close of the programme on May 31. She said about one million applicants had been slated to receive the grants out of the 3.6 million applications that …

General News Manufacturing/Industry

Tinubu promises to roll out policies to industrialise Nigeria

Abuja, April 4, 2024 – President Bola Tinubu says his administration will continue to put in place policies for the industrialisation of the country. Tinubu made the promise on Friday when he received a delegation of the African Association of Automotive Manufacturers and the Nigerian Automotive Manufacturers Association. A statement by the Presidential Spokesman, Ajuri Ngelale, said the President was represented by his Chief of State, Femi Gbajabiamila, and members of cabinet led by the Minister of Industry, Trade and Investment, Ms Doris Uzoka-Anite. Tinubu urged the delegation to ensure …

Business Solutions Manufacturing/Industry Trade

US to expand AGOA to all African countries, extend it’s lifespan to 2041

Nairobi, April 29, 2029 – The United States is planning to extend beneficiaries of the African Growth Opportunities Act (AGOA) to all African countries and also extend its lifespan to 20241. The extension is expected to integrate AGOA with the African Continental Free Trade Agreement (AfCFTA) to support the development of intra-African supply chains. AGOA was enacted by the US in 2000 to facilitate more African exports to the U.S by allowing some African products, particularly textiles, to enter the U.S. duty-free. The Act will expire in 2025.. Speaking in …

Business Planning Manufacturing/Industry

FG announces take-off of N200b Presidential Intervention Fund

Abuja, April 22, 2024 – The Federal Government on Monday announced the take-off of the N200 billion Presidential Intervention Fund. Doris Uzoka-Anite, the Minister of Industry, Trade and Investment, announced this at the operational launch of the MSME and Manufacturers segment of the Fund. “The Federal Government of Nigeria is proud to announce the operational launch of the MSME and Manufacturing segment under the prestigious Presidential 200 Billion Naira Intervention Fund. “With applications for the Presidential Conditional Grant Scheme now closed, we are excited to move forward with the loan …

Agriculture Business Planning Capital market ICT Investment Manufacturing/Industry Money market Oil and Gas

Nigerian economy is resilient, attractive to investors – IMPI

Abuja, March 19, 2024 – The Independent Media and Policy Initiative (IMPI) says the Nigerian economy is very resilient and attractive to investors as investments in its key sectors are highly profitable. It also says there are verifiable data to show that Nigeria has a robust investment climate under the President Bola Tinubu administration contrary to the narrative of an economy shorn of investor confidence. In a policy statement signed by its Chairman Niyi Akinsiju, the policy think tank noted that it came to that conclusion after a comparative analysis …

General News Investment Manufacturing/Industry

CPPE cautions legislators against use of foul languages on investors

Lagos, March 17, 2024 -The Centre for the Promotion of Private Enterprise (CPPE), a private sector think-tank in Lagos, has appealed to the National Assembly members against the use foul languages on investors during their deliberations. Muda Yusuf, the Director of CPPE, gave the advice to the NASS members in a statement issued  on Sunday against the backdrop of recent deliberation in the House of Representatives on the rising prices of cement across the country. He said the CPPE had noted with concern the recent remarks on the floor of …