MANUFACTURING

The Central Bank of Nigeria (CBN) has said Manufacturing Purchasing Managers’ Index (PMI) increased by 1.2 basis points to 54.1 index points in July from 52.9 index points recorded in June. According to CBN, the increase in Manufacturing PMI, indicates expansion in the manufacturing sector for the fourth consecutive month....

Nigeria's Dangote Cement plans to invest about $4 billion in the next two to three years to nearly double its production capacity in Africa, a senior executive told Reuters on Tuesday. Edwin Devakumar said the company was seeking to expand across the continent to hit annual production of about 80...

The African Export Import (AFREXIM) Bank has signed a $1billion Memorandum of Understanding (MoU) with the Dangote Group of Companies at the 24th Annual General Meeting of the bank holding in Kigali, Rwanda. AFREXIM Bank's president, Dr. Paul Oramah, said “the deal was part of the bank's bid to expand...

The management of NASCON on Thursday assured shareholders of bumper returns on their investment in the company as it has concluded arrangements to roll out more products before the end of this year. When introduced, the new products will enhance the company’s turnover, profitability and ultimately rub-off positively on the...

The Central Bank of Nigeria (CBN) has said the Manufacturing Purchasing Managers’ Index (PMI) moved to 47.7 index points in March 2017, indicating declines in the manufacturing sector for the third consecutive month but at a slower rate. The PMI report by CBN said 13 of the 16 sub-sectors reported...

To provide 3,000 jobs Determined the tap into the opportunity provided by the scarcity of forex in the country to create jobs, foremost entrepreneur, Aliko Dangote has embarked on the establishment of multi-million dollar vehicle assembly plant project in Lagos Specifically, the plant will be churning out heavy duty trucks...

There are plans by the Federal government to return the Export Expansion Grant in 2017. The Minister of Industry, Trade and Investment, Mr Okechukwu Enelamah, who dropped the hint explained that the grant would be reviewed to encourage local production as well as small and medium scale enterprises. He added...

  President, Manufacturers Association of Nigeria (MAN), Dr Frank Jacobs Udemba, has reacted to the recent statement of the Finance Minister, Mrs Kemi Adeosu that Nigeria would be out of economic recession before the end of the year, saying that to come out of the recession, manufacturing must be prioritised....

The National Automotive Design and Development Council (NADDC) have said that it has started reviewing the country’s automotive policy with the stakeholders in the auto industry in other to eliminate the hindrances currently bedevilling the sector. Director, Policy and Planning of NADDC, Mr. Luqman Mamuda, who disclosed this in a...

The increase seen in cement, flour and sugar product has been attributed to the high cost of production resulting from the naira devaluation and inflation. Industry stakeholders have said that most companies said they intend to increase product prices by 10 to 20 per cent to offset the impact of...