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Commerce / Industry

Tinubu’s airline downgraded by NCAA over use of sole Plane
Posted by Admin The Nigeria Civil Aviation Authority, NCAA, has downgraded First Nation Airways belonging to the All Progressives Congress (APC) National Leader, and ex-Lagos State governor, Asiwaju Tinubu for her use of sole plane. The decision to down grade the airline to undertake only charter operations followed maintenance of.....
Dangote announces establishment of truck assembly plant in Lagos
Dangote Group of Companies has established a $100 million truck assembly plant in Lagos as part of its efforts toward boosting foreign exchange and job creation in the country. The group said in a statement on Sunday in Lagos that the plant was floated by the group in partnership with.....
Nigeria may not move out of recession in 2017 – MAN
The President, Manufacturers Association of Nigeria, Dr. Frank Jacobs, says with the current economic situation, the country may not be out of recession in 2017. Jacobs on Wednesday in Abuja said that there was the need to introduce policies and initiatives to control the economy. Jacobs said that government needed.....
FG slashes MTN fine by N450bn, mandates listing on NSE
Posted by Admin After nearly six months of negotiation and re-negotiation over the N1.04Trillion fine imposed on MTN by the Nigerian Communications Commission (NCC) the fine was Friday, reduced to N330billion. This amount includes the “goodwill” payment of N50Billion earlier made by MTN to the government. The balance of N280Billion.....
Unstable govt policies destroy entrepreneurial process —Coscharis boss
Dr. Cosmas Maduka is the chairman/CEO of Coscharis Group of Companies and sole distributor for BMW in Nigeria. He is an achieving entrepreneur that has made remarkable impact in the auto industry. In this interview with Saturday Vanguard, he spoke on the company’s partnership with Ford, at same time appeals.....
We will create ICT hubs across Nigeria, says Osinbajo
Vice President Yemi Osinbajo said on Thursday that one of the cardinal objectives of Federal Government’s ‘’change agenda’’ was to create Information Communication Technology hubs across the nation. He stated this at the signing a Memorandum of Understanding on ‘’ICT for Change Empowerment Programme’’ between the Federal Government and Huawei Technologies.....
Buhari approves 65 licences for private refineries
*Decision taken within 10 days in office *DPR feigns ignorance President Muhammadu Buhari has granted licences to 65 Nigerian companies to construct modular refineries. The companies were selected from about 285 applications that were screened for the purpose. Modular refineries are mini-refineries with capacities ranging from 1,000 to 10,000 barrels per.....
Dangote, Chinese firm sign $4.34b deal for cement plants in 13 countries
Dangote Cement yesterday signed contracts with Chinese firm, Sinoma International to build cement factories in 13 countries – 12 in Africa and Nepal, an Asian country. On completion, 25 million tonnes of cement will be generated annually in what is a revolution the cement sub sector. This will bring.....
NAFDAC arrests man behind distribution of fake De Rica tomato
The National Agency for Food and Drug Administration and Control on Friday said it had arrested five suspects for alleged sale of expired products. NAFDAC’s Director-General, Paul Orhii, who was represented by Kingsley Ejiofor, Head of Investigation and Enforcement Directorate, made the disclosure in Lagos. He told a news conference.....
FG grants 12 additional auto assembly plants licences
The Federal Government through the National Automotive Design and Development Council (NADDC) has awarded licences for the establishment of 12 new vehicle assembly plants in the country. This is contained in a document made available by the spokesman of NADDC, Mr Bello Rasheed, in Abuja on Monday. The document stated.....
Innoson to roll out N1.5m cars
Low and middle class Nigerians desiring to own brand new cars will soon realise their dreams as indigenous automobile manufacturing firm, Innoson Group of Companies, is set to launch its new products. The firm, which manufactures cars, buses, tankers and other products, would from August 8  introduce brand new cars.....
New automotive policy: 12 firms to build vehicle assembly plants in Nigeria
At least 12 automobile manufacturing firms have indicated interest in setting up vehicle assembly plants in Nigeria, the Director-General, National Automobile Council, Mr. Aminu Jalal, has said. He also said old assembly plants such as those of Leyland and Leventis Motors were being revived to give a new lease of.....

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