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 […]
Technology heightens competition for market share in refrigerator industry
The battle for market share in the home appliances sector of the Nigerian market has reduced contenders for number position to three in the refrigerator sub-sector to Life is Good, LG, makers of LG refrigerators, Peterson Zachonis, PZ, manufacturers of Hair Thermocool refrigerators, Samsung, producers of Samsung refrigerator among the over 17 refrigerator brands in the market.
Naira down at N361/$ in parallel market
The Naira yesterday depreciated to N361 per dollar in the parallel market.
Oil propels Nigerian shares to 9-year peak
Nigerian stocks have jumped to a nine-year high as Africa’s biggest economy emerges from its worst recession in 25 years, buoyed by the high price of oil at $69 a barrel.
Nigerian Stock Exchange: FBNH, Sterling Bank top 46 stocks on gainers’ chart
Investors’ sentiment on the Nigerian Stock Exchange, NSE Tuesday remained positive with 46 stocks on the gainers chart as against 16 stocks that declined.
Nestle to sell US confectionary business to Ferrero for $2.9 bn
Nestle to sell US confectionary business to Ferrero for $2.9 bn
