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SON intercepts N8bn cloned made in Nigeria cables

The Standards Organisation of Nigeria has intercepted over N8bn worth of substandard electrical cables. The cables, according to the organisation, are cloned versions of 20 popular Nigerian brands and shipped from China into the country. The cables were discovered in two residential buildings in the Ajangbadi area of Lagos State ...

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IMO to adopt passenger ship safety amendments

The International Maritime Organization (IMO) is set to adopt revised safety requirements to ensure newbuild passenger ships remain afloat after a major incident. The revisions to the International Convention for the Safety of Life at Sea (SOLAS) chapter II-1, relating to subdivision and damage stability, follow a substantive review of ...

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Nigeria’s Manufacturing & Non-Manufacturing Sectors Expand in May

Click here to download PDF copy of report A newly published Central Bank of Nigeria survey on purchasing and supply executives from manufacturing and non-manufacturing businesses revealed expansions in both the manufacturing and non-manufacturing businesses; thus reinforcing optimism of an imminent economic rebound from recession. The boost in real sector ...

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LCCI commends executive orders on ease of doing business

      LAGOS Chamber of Commerce and Industry (LCCI) has commended the recently signed Executive Orders by the Acting President, Prof. Yemi Osinbajo towards changing the ways government business and operations are conducted in the country forthwith. We also note with appreciation the robust level of consultations on ease ...

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Dangote Cement Q1 2017 Results Review – Maintaining Outperform Rating

2% increase to our price target; maintaining Outperform rating Dangote Cement’s (DangCem) Q1 2017 results came in ahead of our forecasts across the board. The variance relative to our forecasts was driven by (i) slightly higher pricing and unit volume in Nigeria which were around 5% and 6% higher than ...

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NASCON new products to boost revenue, profitability

  Executive Director Commercial of NASCON Allied Industries Plc, Fatima Aliko Dangote has expressed delight at the expected significant increase in both turnover and profitability of the company, as a result of the proposed new products, to be released to the market before the end of this year. In a ...

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CBN Says Manufacturing PMI up 51.1% in April 2017

Click here to download full PDF Report 1.0 Introduction The Statistics Department, Central Bank of Nigeria conducts a monthly survey of purchasing and supply executives of manufacturing and non-manufacturing organizations in 13 locations in Nigeria: two states in each of the six geo-political zones, and the FCT (Fig. 1). The ...

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Bank of Industry Posts 44% increase in PBT in 2016

The Bank of Industry (BOI) posted an operating Profit Before Tax of N17bn in 2016 which represents a 44% increase over the N11.9bn that was recorded in 2015. The Bank’s loans and advances also rose by 10% to N171bn in 2016 from N156bn in 2015. Disbursements to Small and Medium ...

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Dangote’s new Pasta products hit the market

*To compete with rice consumption In a major strategic move to grow its market equity in Africa, Dangote Flour has unveiled new improved pasta products called ‘Ecccellente’. The re-vamped Pasta, is expected to reduce the dependency on rice consumption by Nigerians. Speaking at the Grand Customer Launch Event in Kano ...

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NEXIM Bank injects $10m in Golden Guinea Breweries

In a bid to restore and  rehabilite the abandoned Golden Guinea Breweries Plc, the  Nigeria Export Import Bank (NEXIM), says it has injected $10 million the beer company. The loan facility was obtained by a core investor, Pan Marin Limited, in Umuahia Abia State, with about 90% control for a medium ...

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