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NACCIMA, China seal pact to boost manufacturing investment in Nigeria

NACCIMA, China seal pact to boost manufacturing investment in Nigeria

By Yinka Kolawole The Nigeria Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has signed a tripartite Memorandum of Understanding (MoU) with China’s Linyi Wholesalers Federation and TTC Hydra Limited to strengthen bilateral trade and attract new Chinese investments into Nigeria’s manufacturing and infrastructure sectors. The agreement, signed at the NACCIMA Infrastructure Conference (INFRACON […]

Stakeholders differ on CBN’s withdrawal from manufacturers’ intervention fund

Stakeholders differ on CBN’s withdrawal from manufacturers’ intervention fund

By Yinka Kolawole Industry stakeholders have expressed divergent views on the Central Bank of Nigeria’s (CBN) withdrawal from direct intervention financing of the manufacturing sector. Director General of Lagos Chamber of Commerce and Industry (LCCI), Dr. Chinyere Almona, said CBN’s exit has left manufacturers heavily dependent on commercial banks that are not structured to provide long-term industrial […]

Don’t be fooled, states are not richer

Don’t be fooled, states are not richer

By Dele Sobowale Most Nigerians are being fooled right now, as they often are, by the Federal Government; with regard to the monthly allocations to states. Unfortunately, because the hands of many of the State Governors are not clean, they are allowing the FG to blame them unjustly for overall poor performance. Granted, there are a […]

Alert MFB grows assets to N50bn amid inflation, rising credit demand

Alert MFB grows assets to N50bn amid inflation, rising credit demand

By Babajide Komolafe Alert Microfinance Bank has recorded a 20-fold increase in total assets to N50 billion in three years, as rising inflation, naira depreciation and stronger demand for credit reshape Nigeria’s banking landscape. Speaking in a media interview, Group Chief Executive Officer of Alert Group, Mr. Olanrewaju Kazeem, said the bank’s growth was driven by […]