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40% capacity can meet local lube consumption

40% capacity can meet local lube consumption

Stakeholders in the oil industry said that the total installed capacity of the lube plants in Nigeria currently operating at about 40 percent can meet the local consumption, with the potential to export and earn foreign exchange for the country.

NEXIM Bank to increase operational funds of mining sector to 10%

NEXIM Bank to increase operational funds of mining sector to 10%

Managing Director, Nigeria Export-Import (NEXIM) Bank, Mr Robert Orya, said the operational funds to the mining sector would be increased to 10 per cent to develop the sector. Orya, who spoke to the News Agency of Nigeria (NAN) in Abuja, said that the operational cost was increased from three per ent to 10 percent to fast track development in the sector.

FG commences diaspora export programme

FG commences diaspora export programme

President Goodluck Jonathan has kicked off the implementation of the diaspora export programme, designed to improve trade between Nigeria and other countries of the world.