Recapitalisation: Labour Ministry charges banks to protect workers
By Victor Ahiuma-Young & Omotola Aremo The Federal Ministry of Labour and Employment has cautioned banks and insurance companies against allowing workers to bear the brunt of the ongoing recapitalisation and restructuring in the financial sector. The Ministry made the call during the 2026 World Day for Decent Work celebration organised by the Association of […]
How Nigeria can overcome hunger — BUA
As BUA Foods posts N518.4 PAT By Emma Ujah, Abuja Bureau Chief The Chairman of BUA Foods Plc, Alh. Abdul Samad Rabiu, has identified heavy investments in agriculture by both the government and private sector operators as a key factor necessary to tackle hunger in the country. He spoke at the 5th Annual General Meeting of […]
Oil price reverses gains, falls 0.8% despite escalating US-Iran hostilities
By Obas Esiedesa, Abuja Global oil prices eased by 0.82 per cent to $84.24 per barrel on Wednesday as investors took profits after the previous day’s sharp rally, although renewed military confrontation and escalating rhetoric between the United States and Iran continued to underpin fears of disruptions to global crude supplies. Brent crude, the international benchmark, […]
Food inflation still rising despite drop in headline rate
By Elizabeth Adegbesan The National Bureau of Statistics, NBS, yesterday said headline inflation rate slowed Month-on-Month (MoM) by 0.02 percentage point to 15.91 percent in June 2026 from 15.93 percent in May. The decline is coming after a three consecutive months rise in headline inflation rate since March 2026. However, despite the moderation in inflation rate, […]
NIP 2025: FG positions small businesses as engine of industrialisation
By Yinka Kolawole The Federal Government has positioned Micro, Small and Medium Enterprises (MSMEs) as the biggest beneficiaries of the Nigeria Industrial Policy (NIP) 2025, with a package of low-cost financing, preferential government procurement, industrial clusters and digital transformation initiatives aimed at accelerating industrial growth and reducing the country’s dependence on imports. The policy, unveiled […]
Manufacturers sell below production cost to offload N2trn unsold inventory
By Yinka Kolawole Manufacturers in Nigeria are increasingly selling products below production cost in a desperate bid to clear nearly N2 trillion worth of unsold inventory, underscoring the severe cost pressures and weak consumer demand confronting the country’s industrial sector. Findings by the Manufacturers Association of Nigeria (MAN) show that while manufacturers have recorded modest improvements […]
