Imports choke textile industry, rise to N1.1trn in two years
Nigeria’s dependence on imported textile materials has almost tripled with importation surging by 181 per cent in two years to N1.08 trillion in 2025 from N377.47 billion in 2023, despite repeated efforts to revive the oncethriving local textile industry.
Pearl awards: SEC wants corporate governance included in selection process
The Securities and Exchange Commission (SEC) has advised the board of governors of the Performance, Earnings and Returns Leadership (Pearl) Awards Nigeria to include good corporate governance in its criteria to reward quoted companies in Nigeria. The commission also assured of its readiness to collaborate with the Pearl Awards in encouraging companies for high performance.
Dangote calls for investments in real sector to save economy
DANGOTE Group has called on private investors to invest their money in the real sector of the economy, especially in manufacturing and agriculture. Devakumar Edwin, the Executive Director of Dangote Group, who made the call in Lagos, noted that while government has a big role to play in formation of the right policy to encourage investors; the business community has a bigger role to play by moving away from importation to production.
Vitafoam to expand product line
As part of its corporate strategy to support sound health for mankind, Vitafoam Nigeria Plc, a quoted company on the Nigerian Stock Exchange, NSE has pledged to expand its production of modern sleep products. Addressing journalists at a ceremony marking the 2015 World Sleep Day, the company’s Group Managing Director, Mr. Joel Ajiga explained that Vitafoam Nigeria had ventured into production and supply of flexible, semi-rigid and rigid polyurethane foam products leading to incorporation of more subsidiaries.
UNIDO to assist Nigeria’s diversification to non-oil sector
The United Nations Industrial Development Organisation (UNIDO) said the National Quality Infrastructure Project (NQIP) will assist Nigeria to diversify its economy to non-oil sector. UNIDO’s Project Coordinator, Mr. Charles Malata said the project will be useful to Nigeria as it spreads across several commodities in the country. He said the four years NQIP signed in 2013 has taken effect since May 2014 and is sponsored by EU with 12 million Euros already committed to cover its five components.
Is your organization’s strategic planning a waste of time and resources? (3)
This week’s insight will be the part three of the series. By now, the part one and two of this insight will definitely guide every CEO or business leader in answering the above question. But the truth of the matter is that most of organizations strategic plans are being hit by SPOTS Syndrome (Strategic Plans On Top Shelf). SPOTS Syndrome is big evidence that an organization’s strategic plan has been a waste of time and resources. Whenever a strategic plan is not agreed upon, acted upon and implemented, it is a mere waste of time and resources.
