Business

Manufacturers deepen local raw materials sourcing, up 11% in 3yrs

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 […]
Visible Articles 5 10 15
Governor Ohakim urges banks to relax agric loan

Governor Ohakim urges banks to relax agric loan

GOVERNOR Ikedi Ohakim of Imo has called on commercial banks to relax their agricultural loan conditions to enable more farmers benefit from the federal government’s N200 billion Agricultural Intervention Fund. Ohakim, who made the call in Owerri on Saturday at a forum organised for farmers in the state, said unless the conditions were relaxed, most small-scale farmers would not access the fund.

Smuggling, power failure threat to textile industry revival, Labour warns

Smuggling, power failure threat to textile industry revival, Labour warns

ORGANISED Labour in the nation’s textile industry, has warned that despite government efforts at raising the textile industry revival fund from N70 billion to N100 billion or even N500 billion, there cannot be real industrial revival if the issues of power and smuggling are not urgently addressed..

Consumption tax takes off in Lagos

Consumption tax takes off in Lagos

LAGOS State government in its quest to bring development to the door steps of the people and free some part of the state for further development has introduced some local taxes. One of these taxes is the consumption tax which is aimed at replacing the earlier sales tax which has become a subject of litigation.