Business

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.
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N18,000 minimum wage, an assault on human dignity – Prof. Utomi

A major industrial crisis that would have crippled economic activities in the country was averted last week as leaders of the nation’s labour movement called off a three-day warning strike declared to compel the federal, states and local governments to ensure the implementation of the N18, 000 minimum wage.

ISO certificate for oil firm

Natony, a major contractor of the Shell Petroleum Development Company (SPDC), has been issued a certificate of conformity to the requirements of NIS ISO 9001:2008 Quality Management System Standards.

Factors fuelling frauds in financial sector, by ICSAN president

Macro-economic instability, poor governance and lack of or inadequate risk management have been identified as some of the factors responsible for the sharp practices bedeviling the banking sector, stock market and general investment in Nigeria.

NCS steps up security at borders

The Nigeria Customs Service (NCS) Ogun State Command is putting measures in place to step up security at the border points in order to curtail illegal trades and prevent offensive goods from coming into the country.

.…Impounds security vehicles

The Nigeria Customs Service, NCS, Tincan Island Command has impounded two security vehicles smuggled into the country through the ports.

‘ Why we waived N1.3bn storage charges’

The concessionaires in charge of Lagos ports, APM Terminals Apapa Limited and Lilypond Container Terminal, Ijora, have offered importers waiver of accumulated storage charges of N1.3 billion in a bid to tackle congestion at the ports, explaining that the initiative was to enable importers remove their containers that had been in the ports for over a year.

Man makes living from Grasscutter farming

For the few Nigerians who have realised that self-employment is the quick solution to the problem of unemployment in Nigeria, they have started creating jobs for themselves through animal farming without waiting for the government of the day to provide one for them, even when they could not get assess to N200 billion agric loan.

African mobile advertising market grows with 37.9%

In Mobi, one of the world’s largest independent mobile ad network, has released its May 2011 Mobile Insights Report for Africa, providing insights on mobile advertising trends on the continent. Report shows that InMobi now serves 4.2 billion impressions a month in Africa, up to 37.9% from 3.0 billion in February 2011.

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