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 […]
FG to promote creation of 1,500 SMEs via new technologies
The Director General of Federal Institute of Industrial Research Oshodi, FIIRO, Dr. Gloria Elemo, has said that an estimated 1,500 small and medium scale enterprises are expected to be set up across the country in the next one year through the 250 Research and Development (R&D) technologies/outputs developed by the institute.
PPMC exports N117bn fuel oil in one year
The Pipelines and Product Marketing Company, PPMC, a subsidiary of the Nigerian National Petroleum Corporation, NNPC, exported 1.33 billion litres of petroleum products, valued at N116.672 billion in 2013.
Nigeria needs 6.5m pre-paid meters in five years — Onyema
Techno Gas and Power, a subsidiary of Techno Oil Limited has hinted that Nigeria’s power sector needs at least 6.5 million prepaid meters to meet the energy needs of electricity consumers and help investors in the sector recoup their investment.
Forcados Terminal records 14-year export safety milestone
The Forcados Terminal operated by the Shell Petroleum Development Company, SPDC-operated Joint Venture in the western Niger Delta recently recorded a 14-year safety operation in oil exports.
Aiteo acquires Shell’s OML 29, Nembe pipelines
The Aiteo Group has finally confirmed the acquisition of 85 per cent equity in Oil Mining Lease, OML 29, being divested by the Shell Petroleum Development Company, SPDC.
