One of the policies and strategies employed by developing economies to grow their industrial base is import substitution. Import substitution industrialisation strategy (ISI) involves producing locally, goods that were formerly imported.

Globacom, Nigeria’s most innovative telecommunications company, has launched a new service, GLO SMS4EVER, which enables subscribers to store their text messages (SMS) for as long as they want.

Amount of money accruable to the Federal Government, FG, in terms of duty paid from the Free Trade Zone (FTZ)’s investments since inception in the country stands at N50 billion, the Managing Director, Nigeria Export Processing Zones Authority (NEPZA), Dr. Sina Agboluaje, has said.

In one of the most ambitious efforts ever undertaken on behalf of an orphan crop like yam, the International Institute of Tropical Agriculture (IITA) and a host of partners announced during the week, a new initiative to boost yam productivity and double the incomes of three million yam farmers in West Africa.

Diamond Bank Plc has entered into negotiations with multilateral agencies to source Tier 2 capital in its 2012 financial year. It also plans to ask shareholders for their approval to enter into merger talks with other banks and to raise N31 billion in bonds.