INDUSTRY

  The Federal Ministry of Industry, Trade and Investment (FMITI) says implementation of the Nigeria Industrial Policy (NIP) will improve growth, promote made in Nigeria goods and increase industrial production. Mr Edet Akpan, Permanent Secretary, FMITI, stated this at a six-day brainstorming on the “Validation of the Revised Draft Nigeria...

Anheuser-Busch InBev (AB InBev), the world’s largest beer maker, expects the total investment in its new brewery at Sagamu in Nigeria, to be up to $400 million, Chief Executive Carlos Brito said on Wednesday. The $250 million brewery has already started operation and capacity will be expanded in phases, Brito...

  Toyota Nigeria Limited (TNL) has predicted five per cent growth in Nigeria’s automobile industry in 2018. The Managing Director, Toyota Nigeria Limited, Mr Kunle Ade-Ojo, disclosed this while addressing journalists in Lagos, and added that about 7,000 new vehicles were sold in the first nine months of the year,...

The Federal Government has said it has come up with four key reforms to address the challenges of Micro Small and Medium Enterprises (MSMEs) in the country. The Minister of State for Industry, Trade and Investment, Hajiya Aisha Abubakar, disclosed this during the inauguration of the National Power Programme for...

Nigeria’s Dangote Cement is still interested in acquiring South African rival PPC and would do a deal at the right price, its outgoing Chief Executive Officer Onne van der Weijde said on Thursday. Weijde said PPC was a “good fit” for Dangote Cement, which is majority owned by Africa’s richest...

Dangote Group is making a five-year investment of at least $1 billion to grow and process rice in seven Nigerian states, bringing sub-Saharan Africa’s biggest importer of the grain closer to its goal of self-sufficiency. Dangote Rice, a unit of the Lagos-based company, plans to increase cultivation of paddy, or...

The Bank of Industry (BoI) has disbursed N3.1 billion to 14 microfinance banks under its Bottom of Pyramid (BOP) scheme. The scheme is to enhance the financial inclusion of micro entrepreneurs in the country. The Acting Managing Director of the bank, Mr Waheed Olagunju, made the disclosure at the presentation...

The Kastina State Government in North West Nigeria has pledged to support the standardisation campaign, a cardinal tool employed by the Standards Organisation of Nigeria (SON) to raise awareness and improve competitiveness of Nigerian products. The Governor of Katsina State, Aminu Bello Masari, made the call when the management team...

The Lagos Chamber of Commerce and Industry (LCCI), in collaboration with Trail Trans Logistics Group of Companies of  Russia, has concluded plans to formally launch an e-commerce platform that will boost the quantum of direct trade, both import and export, between Russia and Nigeria. The official launch, according to LCCI,...

The Lagos Chamber of Commerce and Industry (LCCI),  is set to hold a Dialogue Session on Nigeria’s International Trade Relations aimed at examining the current status of the nation’s trade policies in line with the developments in the global economy. The dialogue session, according to LCCI, is scheduled to hold...