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 […]
South Africa concludes plan to invest in Nigeria’s mining, forestry
The Industrial Development Corporation (IDC) of South Africa on Monday in Abuja, said it was prepared to invest in the Nigeria’s Mining and Forestry sectors.
Experts split on using reserves to defend Naira
With the nation’s external reserves falling below its lowest level in eighteen months, economic experts are divided over the policy of using the reserves to defend the naira.
Naira: Critical moment for currency on life support
Today is a critical moment for the Naira. Its fate, at least for the next two months, will be decided by eleven economic experts who meet regularly to review and take decisions on policies that influence money supply in the Nigerian economy. For the past three years or so, members of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) have consistently decided to defend the naira.
Insurers responsive to victims of security incidents – NAICOM
Families of police victims of the security situation in the country, particularly in the North, have not really felt the impact of loss of loved ones because insurance have been responsive to their plight.
Downstream reform will stabilise products distribution—IPMAN
The Independent Petroleum Marketers Association of Nigeria, IPMAN, has said that current Federal Government reforms in the nation’s downstream petroleum sector will not only ensure products sustainability but also distribution stability.
