Browsing Tag
Manufacturing
17 posts
UK government transitions British Steel to public ownership
The UK government has nationalized British Steel to preserve domestic production capabilities and protect thousands of jobs in Scunthorpe.
Nigerian Banks Reduce Sectoral Lending by N5.4 Trillion
Deposit money banks in Nigeria cut lending to eight major sectors by N5.45 trillion in 2025, largely due to the Central Bank of Nigeria ending its regulatory forbearance policy.
Automakers caution that 2026 tariff shifts may endanger domestic manufacturing
The Nigerian Automotive Manufacturers Association has warned that upcoming 2026 tariff reforms could hurt local assembly plants unless the government implements stronger industrial protections and incentives.
Afreximbank Urges African Nations to Halt Raw Lithium Exports
Afreximbank’s Dr. George Elombi has urged African nations to process lithium domestically for EV battery production instead of exporting it as a raw material, pledging financial support for local manufacturers.
Nigerian Government Offers Incentives to Boost Local Smartphone Manufacturing
The Nigerian government is offering tax waivers and special incentives to phone manufacturers who commit to building production plants in Nigeria by November to improve device affordability.
Neimeth International Pharmaceuticals Investors Support Capital Injection Plan
Neimeth International Pharmaceuticals shareholders have authorized a new capital raise to fund business growth and finalize a major manufacturing facility in Anambra State.
Scaling Nigeria’s Cassava Industry Beyond Raw Production
Nigeria dominates global cassava production, but failing to industrialize this supply leaves the country dependent on imports. Moving toward a model of value-added processing is essential for economic growth.