AYADE COMMISSIONS FIRST DECODER MANUFACTURING COMPANY IN WEST AFRICA, SEE PIXS

The first surface mount technology (SMT) digital set top box manufacturing plant in West Africa has commence production in Calabar, the Cross River State capital. The plant, operated by Gospell Digital Technology was commissioned today Thursday by Cross River Governor, Senator Ben Ayade who said the state will partner the company to ensure it breaks the difficult terrain to ensure broadcasting is made easier and information delivered more efficiently. “We have very difficult terrain in Cross River and it is very difficult to transmit,” Ayade said, adding that: “We will…

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ERISCO FOODS BOSS: FG ONLY INTERESTED IN SUPPORTING FOREIGN MANUFACTURERS

President & Chief Executive Officer, Erisco Foods Limited, Chief Eric Umeofia. The Chief Executive Officer (CEO) of Erisco Foods Limited, Chief Eric Umeofia on Wednesday insisted that the Central Bank of Nigeria (CBN) and other agencies of the government are continuously frustrating the efforts of indigenous manufacturers. According to him, the apex bank is “marginalizing” indigenous manufacturers by failing to make foreign exchange and local loans available to them, adding that the CBN only favours foreign companies. He also disclosed of plan to form Indigenous Manufacturers Association of Nigeria to…

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AFRICA’S LARGEST SYRINGE FACTORY COMMISSIONED IN AKWA IBOM

Africa’s La By Bernard Tolani Dada, Uyo Vice President Yemi Osinbajo yesterday commissioned the N15billion Jubilee Syringe company in Onna local government area of Akwa Ibom State, saying the factory will improve the health care delivery of Nigerians. He also stated federal government’s readiness to partner the government of Akwa Ibom State in its quest to improve the health care delivery of Nigerians through the establishment of the world class syringe factory in the state. According to him, the federal government will support the state in ensuring that the over…

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OSINBAJO INAUGURATES WORLD’S LARGEST FERTILISER PLANT IN PORT HARCOURT TODAY

Acting President Yemi Osinbajo will visit Port Harcourt today to inaugurate the world’s biggest fertiliser plant built by Indorama Eleme Fertilizer and Chemicals Limited. Mr Laolu Akande, the Senior Special Assistant to the Acting President on Media and Publicity, made the announcement in a statement issued in Abuja on Wednesday. According to the presidential aide, the plant with production capacity of 1.5 million metric tonnes of Urea fertiliser is considered the world’s largest single-train Urea plant. Eleme Petrochemicals Company Ltd, now Indorama Eleme Fertilizer and Chemicals Limited, was privatised in…

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WHY INVESTORS ARE RUNNING AWAY FROM NIGERIA – PETROLEUM MINISTER, IBE KACHIKWU

Okechukwu Nnodim, Abuja There is some level of latent difficulty for investors to come and invest in Nigeria due to security concerns, among other issues, the Minister of State for Petroleum Resources, Ibe Kachikwu, has said. This is coming as the Group Managing Director of the Nigerian National Petroleum                               Corporation, Maikanti Baru, announced that the country’s current crude oil production had risen to 2.2 million barrels per day. Kachikwu, who spoke at the 6th Sustainability in the Extractive Industries Conference organised by CSR-in-Action on Wednesday in Abuja, noted that although…

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192 FIRMS HAVE CLOSED SHOP IN THE LAST TWO YEARS , ACCORDING TO MANUFACTURERS ASSOCIATION OF NIGERIA

…As real sector loses N62.184bn By Bimbola Oyesola Despite several efforts by the Federal Government to cushion the effects of recession on the economy, recent figures from the Manufacturers Association of Nigeria (MAN) have shown that about 196 manufacturing companies shut down their operations in the last two years due to the biting recession. This represents over 300 per cent increase compared to 45 companies reported to have closed down last year in the first year of the present administration. Figures coming from MAN shows that about 196 manufacturing companies…

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DANGOTE SPEAKS ON HIS PLANS TO TRANSFORM THE NIGERIAN ECONOMY

Dangote Group’s investment in oil and gas will transform the economy from a single commodity market to a sustainable diversified economy, Chief Executive Aliko Dangote has said. His mission is to reverse Nigeria’s import-dependency to self-sufficiency in commodities it has spent its earnings to import, the frontline businessman said. Dangote told a forum of international business leaders and Nigerian business from the Lagos Business School (LBS) at his multi-billion dollars refinery site in Ibeju-Lekki, Lagos, that on completion of the projects next year, 60,000 direct jobs and millions of indirect…

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BIAFRAN ENGINEER MANUFACTURED THIS VEHICLE WITH LOCAL MATERIALS, SEE THE BEAUTIFUL MACHINE

A Facebook user identified as Citizen Ikenna Samuelson Iwuoha has taken to his social media page to show the beautiful made in Nigeria made by a Biafran auto engineer. Iwuoha showed off the beautiful pictures of the strong machine built by an Imo state indigene who used locally available materials in the state. The poster posed with the inventor of the vehicle in the pictures as people reigned all sorts of adulation on the auto engineer. In order to appreciate the maker of the vehicle and his origin, the beautiful…

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BABALAWO ARRESTED OVER 2.5MIL NAIRA SCAM

The Economic and Financial Crimes Commission, EFCC, on Wednesday, February 22, 2017 arraigned one Bala Tangalu before Justice A. B. Mohammed of the Federal Capital Territory High Court sitting in Jabi, Abuja on a 2-count charge of conspiracy and obtaining by false pretence to the tune of N2.5million. Tangalu, a self-styled native doctor also known as Babalawo, was arrested following a petition by one Dozie Ugonna, who alleged that he was scammed of over N2.5million by the accused and his cohorts.According to the petitioner, the money was meant for the…

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