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 […]
Eleme Petrochemical to boost operations with $4.4bn
TheManaging Director, Indorama Eleme Petrochemical Limited, IEPL, Mr. Manish Mundra, has said the firm is planning to invest $4.4bn in its operations by 2019, to become the largest petrochemical company in Africa.
Nigeria loses N1.3trn over decline in crude revenue
Nigeria lost N1.292 trillion in one year, as the country’s crude oil earnings dipped by 15.92 per cent to N6.825 trillion in 2013.
Minister insists on June deadline for improved electricity supply
Minister of Power, Prof Chinedu Nebo, has reassured that all the relevant agencies are working assiduously to make gas available to operators in the power sector with a view to achieving improvement in electricity supply promise made to consumers of the product in the country.
Global oil demand growth forecast raised slightly for 2014
World oil demand growth will be slightly higher than previously thought in 2014, at 1.32 million barrels per day (bpd), the International Energy Agency, IEA, said in its monthly Oil Market Report, offering a more bullish demand outlook than other government forecasters.
Nigerian oil industry attracts N53bn investments
The Nigerian oil and gas sector attracted foreign investment, totaling $330.757 million, about N52.921 billion in the last 15 months, according to data released by the National Bureau of Statistics,NBS.
