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Ghana’s Minerals Commission entices investors, Nigeria yet to get Commission

Ghanaian President, Akufo Addo

Just as Nigerian Solid Minerals experts have observed that nonexistence of Solid Minerals Commission is the root of illegal mining and loss of hard currency to unregulated mining industry, the Minerals Commission of Ghana created many years ago, has started new drive for investors. Only last week, the Minister of Solid Minerals, Dr. kayoed Fayemi revealed that his ministry has ...

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State of Ajaokuta Steel Complex, a collective shame to Nigerian leaders—-Dogara

Dogara Y

The Speaker of the Federal House of Representatives, Barr. Yakubu Dogara, has described the current leprous state of the supposed largest steel complex in Africa, the Ajaokuta Steel Complex, in Kogi State as a collective shame to all leaders. While noting that the National Assembly will resist any move for the concession of Ajaokuta Steel Company Limited, he noted that ...

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Disquiet at DIBAN over planned hike in excise duties, taxes on wines, spirits

MAN logo 88

Members of the Distillers and Blenders Association of Nigeria (DIBAN), a Sub-Sectoral Group of Manufacturers Association of Nigeria (MAN), have written an open letter to President Muhammadu Buhari, decrying that the proposal by the Federal Government for an upward review of excise duties, levies/tax on locally produced wines and spirits will kill their means of livelihood. The group in the ...

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LCCI traces lull in economy to none constitution of Boards of MDAs

Muda Yusuf, LCCI boss

Rising from it National Economic Strategy meeting in Lagos, the leadership of the Council of the Lagos Chamber Of Commerce and Industry (LCCI), has linked observed sluggishness in government economic activities to the none constitution of Boards of several Ministries, Departments and Agencies (MDAs). In a communiqué at the end of the meeting, LCCI therefore called on the Presidency and ...

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If we don’t grow the real sector of the economy then we are joking—NEXIM Bank boss

NEXIM Nigeria

The Managing Director, NEXIM Bank, Mr. Abba Bello, has revealed the efforts of the bank in working towards seamless access to funds from the bank by real sector investors and Small and Medium Enterprises (SMEs). Already, the bank is currently perfecting how it will revive Multi-Trex Integrated Foods Plc with the sum of N5bn to get the company up and ...

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Returnee Indian trained engineers at Dangote Refinery assure best practices

Dangote refinery

Nigerian recruited Petroleum Engineers at emerging Dangote Oil Refinery Company, Lekki in Lagos have assured to deploy the knowledge and skills acquired during the training to ensure Nigeria is saved the embarrassment of failed refinery which usually boils down to fuel scarcity when the refinery come on stream next year. While describing their training experience as second to none in ...

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Expert sees acceptance of naira by UK Export Finance Agency as good for economy

naira dollar

Leading economic analyst, Dr. Boniface Chisea has described the recent announcement by UK Export Finance Agency to add the naira to its list of “pre-approved currencies” for trade transactions as one of the best things to happen to naira this year. In an interview in Lagos, the expert said “Such listing will among other things afford Nigerian agro-exporters the chances ...

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Property valuation not backed by any law or within FIRS mandate—-OPS stresses

Jacobs MAN Boss

Indications have emerged showing that the ongoing aggressive moves by the Federal Inland Revenue Service (FIRS) to raise money for the federal government from taxation are beginning to veer out the extant laws in Nigeria. Discoveries by members of the Organised Private Sector (OPS) now show that some of the current drive by the agency have no backing of any ...

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Osinbajo opens N4.1b new Nestlé factory, enjoins FCMG producers to take cue

Nestle Milo factory

Vice President Yemi Osinbajo, last week, called on other manufacturers of Fast Moving Consumer Goods (FCMG) in the country to take a cue from Nestlé Plc’s expansion drive to domicile their factories in Nigeria, saying the country remains the preferred destination for investment in Africa. Giving the advise while inaugurating Nestlé Nigeria Plc’s N4.1 billion Milo-Ready-to-Drink (RTD) factory at Agbara ...

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Long absence of Solid Minerals Regulatory Commission fueled illegal mining—BHIU

Fayemi 33

New report published by Business Hilights Intelligence Unit (BHIU), the investigative arm of Business Hilights Media group, has revealed that the absence of a federal Commission charged with regulatory activities in the nation’s mining sector is responsible for exponential growth in illegal mining in parts of the country. The report noted that “The oversight exhibited by previous governments which predates ...

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