Business

Imports choke textile industry, rise to N1.1trn in two years

Imports choke textile industry, rise to N1.1trn in two years

Nigeria’s dependence on imported textile materials has almost tripled with importation surging by 181 per cent in two years to N1.08 trillion in 2025 from N377.47 billion in 2023, despite repeated efforts to revive the oncethriving local textile industry.
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Petroleum export: FG extends contract of PIAs

Petroleum export: FG extends contract of PIAs

The Federal Government has extended the contract of the six Pre-shipment Inspection Agents (PIAs) for the exportation of petroleum products by one year, even has it has also appointed two monitoring agents to oversee the function of the six PIAs.

Aviation: We work with NASS to enforce passenger bill of rights – Akinkuotu, NCAA DG

Aviation: We work with NASS to enforce passenger bill of rights – Akinkuotu, NCAA DG

Director-General of the Nigeria Civil Aviation Authority, NCAA, Mr. Fola Akinkuotu, in this interview said the NCAA would ensure that air travellers would no longer be short-changed by airlines by enforcing to the letter, the Passenger Bill of Rights. He also said that the government had not given up on the problem of fare disparity. Excerpts:

Manufacturers decry approval processes of govt agencies

Manufacturers decry approval processes of govt agencies

The Manufacturers Association of Nigeria (MAN) has charged members to take issues of standard as priority during manufacturing activities in order to make made in Nigeria goods compete in the global market, just as the body decried the difficulties its members go through in the approval processes of Standard Organisation of Nigeria (SON) as well as NAFDAC.

Nigeria to commence online business registration globally

Nigeria to commence online business registration globally

The Federal Government’s Investment Climate Reforms programme has recorded a major boost as the Ministry of Industry, Trade and Investment has concluded plans to ensure that Nigerians in diaspora or foreigners planning to register their businesses in Nigeria can do so online from any part of the world within the next two months.

Anxiety over Customs Comptroller General’s job

Anxiety over Customs Comptroller General’s job

FOR the umpteenth time last week, anxiety heightened over the future of Alhaji Diko Inde Abdulahi as the Comptroller General of the Nigeria Customs Service, amidst speculations that he may have been told to temporarily prepare his handover notes.

Let insurance carry your risk

Let insurance carry your risk

Insurance is the transfer of risk from people exposed to risks to professional risk carriers, which are the insurance companies. Every one of us is exposed to one risk or the other because life is full of risks and all these risks can be identified, quantified and reduced to monetary terms.

First Watch: The first results from FBN Holdings (3)

First Watch: The first results from FBN Holdings (3)

This column has discussed on 17 July and 24 July 2013 the results of FBN Holdings, FBNH, Plc as provided in the company’s 2012 annual report and accounts. The report at page 162 gives the value of dividends that have not been claimed by shareholders for the period 2003 to 2011 as N8.561 billion. About 70% of this total is for the financial years ending December 2010 and December 2011.