Starved of dollars, Nigerian businesses struggle for survival

(Reuters) – As women in hairnets and anti-coronavirus masks sort through folded nappies coming off a conveyor belt, the head of the Nigerian firm they work for wonders how much longer he can afford to keep them in employment. Around 80% of the materials that go into Lagos-based diaper and sanitary towel manufacturer Wemy’s products […]

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LCCI seeks tax break for manufacturing, 3 other sectors as COVID – 19 Pummels Economy

    Lagos Chambers of Commerce and Industry (LCCI)has called on the Federal Government to consider 50 percent reduction in all taxes currently being paid by companies in manufacturing sector for one year. LCCI, in its 2020 Post COVID Agenda 2 to the Federal Government, also called for suspension of all forms of taxes for […]

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There is no multiple taxes in Lagos – Sanwo-Olu

Lagos State Government says there is currently no multiple taxes in the State’s revenue system. Governor Babajide Sanwo-Olu stated this during a courtesy visit to Lagos House, Ikeja by the Executive Chairman, Federal Inland Revenue Service, (FIRS) Mr. Muhammad Nami. Placing emphasis on startups, the Governor stated that his administration will always improve on the […]

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Mondelēz International Sets Guinness World Records Title

  Mondelēz International, Inc, the parent company of Cadbury Nigeria Plc, has announced it set a Guinness World Records title for the most people dunking cookies across multiple venues. The record attempt was coordinated to celebrate the Oreo cookie brand reaching a major milestone of $3.1 billion in annual net revenues by end of 2019. […]

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CIBN tasks manufacturers on backward integration for rapid growth

  The Chartered Institute of Bankers of Nigeria (CIBN) has said the manufacturing sector has huge potential to become the live-wire of the nation’s economy, if it would look inward to resolve gaps in demand for both consumer and industrial goods. According to the Institute, in the wake of developments such as the boarder closure […]

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Nigeria, India seal pact on establishment of sugar Institute for manpower dev

The National Sugar Development Council (NSDC) has signed a Memorandum of Understanding (MoU) with the National Sugar Institute, Kanpur, India to train personnel of the proposed Nigerian Sugar Institute (NSI) located in Ilorin, Kwara state on field and factory operations. Speaking at the event, the Executive Secretary, National Sugar Development Council, Dr. Latif D. Busari, […]

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Dangote keeps ANAMMCO, south-east auto industry alive

The assembly of Shacman vehicles by Transit Support Services {TSS} in partnership with ANAMMCO, which prompted the revival of the popular plant in Emene, Enugu, has once again, received a huge boost from the Dangote Group following a fresh bulk order for the heavy duty trucks. Clearly the biggest and most consistent buyer of Shacman […]

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