Browsing Tag
Manufacturing
31 posts
Jingye Group plans legal action over UK government’s seizure of British Steel
Jingye Group has vowed to pursue legal compensation after the UK government took full ownership of the Scunthorpe steelworks to prevent its closure.
Government takeover of British Steel aims to secure future stability
Local residents and former employees in Scunthorpe view the government's nationalization of British Steel as a crucial measure to protect jobs and maintain essential national manufacturing capabilities.
Nigeria Industrial Policy 2025: Prioritizing MSMEs for National Growth
The Nigeria Industrial Policy 2025 identifies MSMEs as the core of industrial development, promising financial support, procurement advantages, and infrastructure to drive local manufacturing.
Nigerian factories sacrifice margins to move N2 trillion in stock
Facing stagnant demand and high operating costs, Nigerian manufacturers are selling goods below production costs to clear N2 trillion in excess inventory.
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.