Category Archives: Business News

Anambra State Set to boost MSMEs with N3bn in 2017

THE Anambra State government plans to generate over N3 billion in 2017 to assist the Micro, Small and Medium Enterprises (MSMEs) sector in the state. Managing Director, Anambra State Small Business Agency, ASBA, Mr Clement Chukwuka, said, in Awka, that

Cashew Farmers In Nigeria Target $650m Export Income

CASHEW farmers in Nigeria are working on a four-year plan to earn $650 million annual income from cashew exports. The country earned $253 million in 2015 and to achieve their new target, the farmers intend to cultivate more land and

BoI Approves NAFDAC Number for Lending to SMEs

THE Bank of Industry, BoI, has beckoned Small and Medium Enterprises (SMEs) operators whose products have met quality certification by National Agency for Food, Drug Administration and Control, NAFDAC, to come for loan to expand their operations and create employments.

BUSTED! Wine Factories Producing Fake Amarula, Others, Exposed By NAFDAC

The National Agency for Food, Drug Administration and Control (NAFDAC), arrested 9 suspects in connecting with “fake” wine and beverage manufacturing factories at Relief Market, Onitsha. This followed a special raid and enforcement operation of Federal Government’s ban on imported

Agony As Price Of Kerosene Soars Nationwide

The crises arising from the scarcity and subsequent high cost of kerosene has reached an alarming rate. FESTUS OKOROMADU in this report looks at the effects on the lives of average Nigerians, particularly the poor masses. Statistics have shown that

Yahoo to change name to Altaba

Yahoo Inc said that it would rename itself Altaba Inc and Chief Executive Officer Marissa Mayer would step down from the board after the closing of its deal with Verizon Communications Inc (VZ.N). Yahoo has a deal to sell its

Customs Arraigns 2 Chinese, Nigerian For Illegal Exports

The Nigeria Customs Service (NCS) has arraigned two Chinese nationals before Justice Mohammed Hassan of the Federal High Court, Ikoyi, Lagos on two-count charge of storing and exporting prohibited items. The suspected Chinese smugglers, Shu Xiang Quan and Wu Sheng

NAFDAC Clears The Air On Seized ‘Plastic Rice’

Following last year’s seizure of consignment by the Nigerian Customs suspected to be ‘plastic rice’, the National Agency for Food and Drug Administration and Control (NAFDAC) last week clear the air on the seizure, saying that the product was not

Dangote Tomato Coy To Resume Production In February, Says MD

The Dangote Tomato Processing Factory in Kadawa, Kura Local Government Area of Kano State will resume production next month. The company, which began production in February 2016, had to suspend operation due to lack of enough raw materials. The managing

Water Borehole Drillers In Nigeria Set To Hike Cost

The Association of Water Drillers and Rig Owners Practitioners (AWDROP) has warned that costs of drilling borehole will go up due to high exchange rate used for procuring drilling equipment and other materials. It has therefore strengthened its task force

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