Manufacturers deepen local raw materials sourcing, up 11% in 3yrs
By Yinka Kolawole Nigeria’s manufacturing sector recorded a steady increase in the use of locally sourced raw materials between 2021 and 2024, with the share rising from 51.5 per cent in 2021 to 57.1 per cent in 2024, as foreign exchange pressures, naira depreciation and rising import costs pushed manufacturers towards domestic alternatives. Data from […]
Vandals attack Trans Forcados pipeline again
ABUJA — The Trans Forcados oil pipeline has again been vandalised at Oteghele axis in Bayelsa State by yet-to-be identified persons, causing a crude oil spill in the area.
Egbin Power invests N50bn
Residents of Lagos and its environs may be in for improved power supply going by the investment of N50 billion for the restoration of 220 megawatts of unit six of the Egbin Power Plant.
Nigerian banks can’t fund oil, gas exploration — Osahon
The Director of Petroleum Resources, DPR, Mr. George Osahan, has said that the banking sector is not capable of financing exploration in the oil and gas industry.
Naira devaluation has forced us to reduce prices —Bajaj
Bajaj Nigeria, manufacturers of Bajaj three wheelers says Naira devaluation has forced the company to reduce prices of its tricycle, as it plans to expand and improve on transport business with introduction of car-like four wheeler before 2015 ends.
Top 10 performing stocks
On the top 10 performing stocks last week were the shares of UAC of Nigeria Plc, Guaranty Trust Bank Plc, Mansard Insurance Plc, Flour Mills of Nigeria Plc, N.E.M Insurance Co (Nig.) Plc and Lafarge Africa Plc.
