Over the years, investigation had revealed that apart from the epileptic power supply that has affected business operations at every level in this country, poor credit facility has been a major challenge of local manufacturers. In this interview, Managing Director, ENGASOD Logistics Limited, Tobia Okeke, explained that faulty credit facility is one of the reasons why SME’s, local manufacturers are dying in Nigeria. Excerpts:

Chairman, Senate Committee on Environment, Mr. Bukola Saraki has declared as unlawful and unconstitutional, the $8 billion fines being sought by the Federal Government of Nigeria against Royal Dutch Shell and Chevron for oil spills in the Niger Delta.

hina Petrochemical Corporation, Sinopec, has announced plans to acquire Afren Plc’s assets valued at N157 billion ($1 billion) in Nigeria and other part of the globe.

The World Bank has announced plans to spend $5billion on 27 projects across Nigeria in the next five years, just as the African Development Bank (AfDB) sealed a pact to provide two sovereign-guaranteed multi-tranche lines of credit (LoCs) of $500 million to Bank of Industry (BOI) and of $200 million to Nigerian Export-Import Bank (NEXIM), to support export-oriented Small and Medium Enterprises’ (SMEs) modernisation and expansion.

The new tax regulation for Nigeria that was recently approved by the Federal Government if well implemented will help reduce double taxation, Ernst & Young has said.

The European Investment Bank (EIB) is interested in investing in Nigeria’s power sector, Mr Rogr Kelly, an official of the bank, said on Wednesday in Abuja.

Poor handling of cashew locally has cost Nigeria huge loses in foreign exchange, Dr Akinwumi Adesina, the Minister of Agriculture and Rural Development, has said.

The Nigerian Stock Exchange (NSE) increased the number of stocks in the portfolio of equity Market Makers with inclusion of Flour Mills, Unilever, Wema bank and Royal Exchnage Assurance to the list.

Flour Mills of Nigeria Plc has invested N60 million in the promotion of educational and manpower development across the country.

Transnational Corporation of Nigeria Plc (Transcorp) and General Electric (GE), has signed a framework agreement to collaborate in addressing the infrastructural needs of Nigeria, with emphasis on the power and transportation sectors.