Industrial Sector

Diaspora Remittances Largely Sustaining Nigerian Economy – PwC

Home BUSINESS & ECONOMY Diaspora Remittances Largely Sustaining Nigerian Economy – PwC Chief Economist of PwC, Dr Andrew Nevin Nigerians in Diaspora have been described as the chief enablers financing the Nigerian economy. The remittance inflows into the country showed that the nation depends largely on them to survive. This disclosure was …

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NSE Records 0.22 percent ASI Decline as Investors Suffer ₦26 billion Loss

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Konga Eyes $10 million Daily Turnover by 2024

Home BUSINESS & ECONOMY Konga Eyes $10 million Daily Turnover by 2024 E-commerce giant, Konga has revealed that the business will hit the $10 million daily turnover mark by 2024. To realise the target, Konga disclosed that the growth trajectory and overall operational efficiency backed by the consistent reduced losses it has witnessed …

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Buhari Assures Foreign Investors of Safety

Home BUSINESS & ECONOMY Buhari Assures Foreign Investors of Safety Pledges commitment to address infrastructure decay President Muhammadu Buhari yesterday allayed fears of foreign investors in Nigeria over the safety of their venture capital. The president, at the inauguration of Ondo Linyl Industrial Hub at Ore in Odigbo Local Government …

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New CBN Report Indicates Naira Devaluation Unlikely in 2020

Home BUSINESS & ECONOMY New CBN Report Indicates Naira Devaluation Unlikely in 2020 Says CBN has forex buffers, tools to keep naira stable A new report has revealed that naira devaluation is unlikely in 2020 despite it being nine per cent overvalued and a deteriorating external position. The report by …

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MAN kicks as Nigeria’s priority products are omitted from AfCFTA’s sensitive, exclusive lists

CREDIT: MEAACT PHOTO / STUART PRICE. Despite being a major market in the Economic Community of West African States (ECOWAS), local manufacturers have kicked against the exclusion of Nigeria’s priority products from the sensitive and exclusive lists of the African Continental Free Trade Area (AfCFTA) agreement. According to the Manufacturers …

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SDG 9 under threat from global manufacturing slowdown

The rate of global manufacturing growth has declined for a second consecutive year, dropping to a marginal rate of two percent in 2019, according to International Yearbook of Industrial Statistics 2020 by the United Nations Industrial Development Organization (UNIDO). The growth of manufactured value added (MVA) of China, the world’s largest …

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‘Parity in duty for imported raw materials, finished goods bad for backward integration’

A diaper production plant in Lagos. To encourage investments in the country’s manufacturing industry, especially in sectors involved in backward integration, there is a need for government to implement policies that would discourage importation through the introduction of incentives for local producers. Specifically, one of the operators involved in the …

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Nigeria Recorded 2.55 percent GDP Growth in Q4′ 19 – NBS

Home BUSINESS & ECONOMY Nigeria Recorded 2.55 percent GDP Growth in Q4′ 19 – NBS Highest Since Recession The nation’s Gross Domestic Product (GDP) has recorded a growth of 2.55 percent (year-on-year) in real terms in the fourth quarter of 2019, the highest since the recession in 2016. This was …

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SEC to Settle Verified Claims of Defunct Dantata Company Subscribers

The Securities and Exchange Commission, SEC has assured subscribers of defunct Dantata Success and Profitable Company, DSPC, that it is discussing with Continue reading SEC to Settle Verified Claims of Defunct Dantata Company Subscribers at BizWatchNigeria.Ng. Read More

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