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 […]
GDP rebasing: Local production should determine size of economy — MSMEs
Operators in the micro enterprise sector in Nigeria have said that the amount of locally manufactured goods consumed in a country should determine the real size of its economy.
Small business owners now benefit from insurance
Artisans, petty traders and operators of small businesses can now benefit from insurance, as Mutual Benefits Insurance Plc has put various schemes in place to assist in the growth of such businesses in the country.
NAICOM commences review of insurance accounts for last financial year
Among the seven insurance companies that have submitted their 2013 financial accounts complaint to the International Financial Reporting Standard (IFRS) to the National Insurance Commission (NAICOM), four of them are currently undergoing review.
Group set to announce innovation prizes in Africa
As global leaders gather for the 2014 World Economic Forum on Africa in Abuja next month to discuss approaches to inclusive growth and job creation, the 2014 winners for Innovation Prize for Africa (IPA) will be announced.
Nigeria’s refining capacity rises to 26%
The Nigerian National Petroleum Corporation, NNPC, has put the combined average capacity utilisation of Nigeria’s four refineries at 25.95 per cent for the month of December 2013.
