Nigeria releases first locally made phones. In 2016, Dangote sold 8.6 million metric tons of cement outside Nigeria. Dangote Cement Plc exported 0.4 million tons of cement in 2016, 54 percent more than what it shipped in 2015.
The export by Africa’s foremost cement manufacturer has ended the era of Nigeria’s dependence on importation. News about the increased export was not the only one delivered by the company on Tuesday. In its 2016 full year audited results presented on the floor of the Nigerian Stock Exchange (NSE) in Lagos, Dangote Cement disclosed that it sold 8.6 million metric tons of cement outside Nigeria, which is 54 percent more than what was sold in 2015. The export is significant given that the nation used to be a net importer of cement.
As of 2011, Nigeria was one of the world’s largest importers of cement, buying 5.1 million metric tons of foreign cement at huge expense to the country’s balance of payments. The company’s Pan-African cement plants continued to perform well, contributing significantly to its turnover and profitability. Nigeria ranks low on emerging markets manufacturing - BusinessDay : News you can trust BusinessDay : News you can trust. Nigeria currently ranks low among major emerging markets manufacturing attractiveness, which is a baseline to drive industrial revolution for any nation, according to a recent report presented Monday at the 13th Nigeria Economic Summit Group (NESG).
According to the report, Nigeria has three as its best country score on a list of ratings, while countries like Korea Republic and Mexico had seven as their best score on the rankings. Nigeria ranks low on emerging markets manufacturing - BusinessDay : News you can trust BusinessDay : News you can trust. Nigeria : Nigerian govt allocates N51bn to garment industry - Apparel News Nigeria. Nigeria: Manufacturers Plan Expo to Boost Industrialisation, SMEs. By Crusoe Osagie The Nigeria manufacturing and equipment (NME) expo scheduled to hold on March 14 to 16, 2017 at Landmark Event Centre, Victoria Island, Lagos, is designed to enhance the nation's quest to achieve a virile industrialised economy, the organisers have said.
According to them, the programme would provide a platform for small and medium enterprises (SMEs) to learn new processes on how to boost outputs, reduce costs, drive quality improvement and manufacture for new emerging markets across the globe. The President, Manufacturers Association of Nigeria (MAN), Dr. Frank Jacobs, explained that the expo would give top stakeholders in the private and public sectors opportunity to appraise developments in manufacturing and industry to jointly propose quick-win solutions that would help Nigeria revive its manufacturing sector. "I have no doubt that this year's edition would be bigger and better especially with its co-location with the Nigeria raw materials (NIRAM) expo.
Manufacturing sector faces gale of losses — Business — The Guardian Nigeria. Forex.
Manufacturing: Capacity utilisation to grow by 4% in 2017 — MAN. By Godfrey Bivbere.
Cement industries can now source gypsum locally - RMRDC. RAW Materials Research and Development Council (RMRDC), said yesterday, that cement industries can now source gypsum from local miners.
The Director General, Raw Materials Research and Development Council (RMRDC), Dr. Hussaini Doko Ibrahim, disclosed this at a press briefing for the Nigeria Raw Material Expo (NIRAM) and the Nigeria Manufacturing & Equipment Expo (NME) in Lagos. Doko said “The previous editions of NIRAM Expo have attained modest achievements and today, industries can source for high quality starch, glucose syrups & extracts, fruit juice concentrates among others from local sources”. Tomato paste manufacturers tackle CBN over FX policy.
By Nkiruka Nnorom THE Union of Tomato Paste Manufacturers in Nigeria has raised alarm over the danger of the foreign exchange policy on the industry.
They said that the once vibrant industry might cease to exist next year if the Central Bank of Nigeria (CBN) did not amend its policy on forex to exclude triple concentrate tomato paste from the scope of the 41 items under the restricted list. The union raised the alarm through its spokesperson, Mr. Nnamdi Nnodebe. Employment: Dangote’s $100m, 10,000 Capacity Truck Assembly Plant To Create 3,000 Jobs. Poised to conserve forex and in view of the huge amount spent annually importing thousands of trucks for distributing its products from plants within Nigeria and across the Africa continent, plans are now at advanced stage by the Dangote Group to begin assembly of Chinese heavy duty trucks in Lagos.
The deal for the $100 million, 10,000 per year capacity plant was signed in May 2014, according to China Daily, making it the eighth of Shandong, China-based National Heavy Duty Truck Group Company Limited (Sinotruk), to be built abroad. The plant will be 60 per cent owned by Dangote Group, trading under Dangote Industries Limited, leaving Sinotruk with the remaining 40 per cent equity stake. Nigeria: NNPC Targets 80 Percent Refining Capacity By 2018. By Roseline Okere The Nigerian National Petroleum Corporation (NNPC) said it plans to increase the capacity utilisation of its refineries to 60 per cent this year, and to 80 percent by the end of 2018, without giving further details.
Nigeria has five refineries in two in Port Harcourt, Warri, Kaduna and Ogbelle, with combined capacity of 446,000 barrels daily. Four these refineries (445,000bpd combined capacity) are operated by NNPC subsidiaries, while the Ogbelle, a 1,000-barrel capacity private diesel topping refinery in Rivers State is run by the Niger Delta Petroleum Resources, NDPR. Data from industry regulator, Department of Petroleum Resources (DPR), indicate that all the refineries combined had worked at an average of 20 percent since 2010.
Therefore, any increase in capacity will be a big boost for petroleum products availability, which importation is estimated at over N10 billion monthly. Nigerian manufacturers lament: 272 firms shut, 20% capacity utilisation, other challenges in 2016. Nigeria’s manufacturing sector performed dismally in 2016 as manufacturers faced several challenges which affected them negatively.
The Central Bank of Nigeria, CBN, said the industrial sector recorded a general decline between January and November as indicated by the Purchasing Managers Index (PMI). The PMI is an indicator of the economic health of the manufacturing sector. The index stood below 50 index point in the months of January to November which indicated decline in industrial production. The PMI is based on five major indicators – new orders, inventory levels, production, supplier deliveries and the employment environment.
Operators said that the sector was faced with myriads of challenges ranging from scarcity of foreign exchange, infrastructure deficit, high banking charges and lack of raw materials. About 272 firms were shut, while some reduced their production, staff strength and remuneration of workers. Mr. Meet The Couple Behind Nigeria's Largest Steel Sheet Factory. In 1971, General Yakubu Gowon, then military ruler of a Nigeria recently emerged from a devastating civil war, established the National Steel Development Authority (NSDA) to harness yet another of Nigeria’s numerous natural resource blessings: an estimated five billion tonnes of iron ore reserves.
Gowon had hoped that his actions would set Nigeria on the path towards becoming a present-day global steel producer and an industrial player. However, over four decades later, Nigeria’s iron ore deposits remain largely untapped, a legacy of easy oil, and the steel industry is all but non-existent. Nigeria presently imports 90 percent of the roughly six million tonnes of steel it consumes annually from countries like China and the Ukraine.
The impact is felt down the value chain, increasing the price of metal goods in Nigeria, slowing the pace of industrialisation and fuelling unemployment. Kam’s trademark is a pair of black, plastic-rimmed glasses. Humble Beginnings Equal Employment. Nigeria: Bleak 2016 As Manufacturers Battle for Survival in 2017. By Femi Adekoya Like sentiments expressed by many Nigerians, operators in the nation's real sector have described activities in the industry in 2016 as bleak, going by the financial losses suffered during the year, while uncertainty clouds expectations in 2017. For the operators, the fears expressed at the climax of 2015 were confirmed in 2016, with greater threats that threatened the continued existence of many businesses as the year comes to an end.
Specifically, commodity prices doubled while unaudited accounts of many conglomerates, food and beverages companies as well as cement manufacturing firms for the 2016 financial year showed heavy loss in revenue and profits. They also struggled between balancing rising input cost pressures and passing the inflationary pressures on already constrained consumers by raising prices of some products during the year. Nigeria: Anxiety Over Fate of Tomato Paste Industry. By Femi Adekoya. Nigeria’s steel sector gets $100m Chinese investment - SweetCrudeReports. 31 December 2016, Abuja – Nigeria’s steel production has received a $100 million Chinese investment through HongXing Steel Company Limited.
According to the Iron and Steel Senior Staff Association of Nigeria (ISSSAN), Nigeria’s present steel production stands at about 300,000 tonnes per annum, while consumption is above 20 million tonnes per annum. Managing Director, HongXing Steel Company Limited, Mr. Feng Zheng Ke, said the company has invested $100 million to establish scrap and billet manufacturing plants in Nigeria to boost domestic consumption and export, adding that the steel plant, which is located in Aba, Abia State, will be completed by the end of the first quarter of 2017. Biggest steel manufacturing plants Zheng Ke who spoke during a briefing on the project said, “Once the plants start operation, the likes of Julius Berger and other construction firms in the country won’t need to import steel again.
The project has reached 70 percent completion. Vanguard. Nigerian food industry worth over 1trillion naira, AFFCON — Business — The Guardian Nigeria. From left, Director General, NAFDAC represented by the Special Assistant to the DG, Mr. William Effiok; Managing Director, the La Casera Company, Mr. Nigeria gets SIM card production plant - News Agency of Nigeria (NAN) Nigeria has commissioned the first SIM card production plant which was built with financial assistance from the Bank of Industry (BOI). Volkswagen moves into Kenya, Rwanda in Africa expansion - Nigeria Today. Nairobi, Kenya | AFP | Volkswagen on Wednesday opened a new assembly plant in Kenya and launched plans for a ride-sharing service in Rwanda as it seeks to take advantage of surging car demand in Africa.
The German car manufacturer’s move into East Africa comes just weeks after it signed a deal to build an assembly plant in Algeria. “Overall car sales in Africa are bound to rise by 40 percent within the next five years, that is why we are expanding our business,” said Volkswagen Brand CEO Herbert Diess. “It is fair to say that the whole continent has seen a long period of economic stagnation, but just like China in the early 80s Africa offers great business opportunities. Manufacturing sector faces gale of losses — Business — The Guardian Nigeria.
Video: Chinese GAC motor launches GS4 SUV in Nigeria - TV360 Nigeria. Dynamics of Nigeria's automobile industry. How Nigeria can benefit from textile revival - Punch Newspapers. Ronke Ademiluyi. Why Tomato Paste Is Such A Big Deal In Nigeria. Dangote Tomato Processing Factory in Kadawa, Kano State. Photo: newsnownigeria.com.ng It’s cheaper to produce tomato paste in China and export it to Nigeria and other African markets than to produce it locally, according to Nigeria’s No. 1 tomato paste processor, Ventures Africa reported. HP unveils world’s ‘smallest’ all-in-one printer in Lagos. Nigerian Food Industry Worth Over 1trillion Naira, Affcon. By Tobi Awodipe. Tecno To Build Manufacturing Plant In Nigeria - Reports Afrique News. Price of Rice will Soon Drop – Dealer. Manufacturing Association of Nigeria inaugurates Large Corporation Group. Cross River opens garment factory, employs 300 - Lolu Akinwunmi's Observatory. The Cross River State Governor, Prof. Nigeria: NSDC Identifies 10 Sites for Sugar Factories.
By Francis Arinze Iloani The National Sugar Development Council (NSDC) said it has identified 10 sites for the development of sugar factories across Nigeria. Naija247news - Nigeria targets 200,000 vehicle production capacity by December. Why Nigeria’s tomato paste industry is not thriving » TODAY.ng. Berger Paints to commission automated factory in Q3 » TODAY.ng. Nigeria: Local Car Assemblies Supply 75,000 New Vehicles. Nigeria's Auto Policy Gets U.S.$150 Million Investment Boost. Nigeria: Shoe Factory Begins Production in Jigawa. Nigeria: Manufacturing Index May Show Negative Trend Reversal.
Naija247news - Nigeria’s burgeoning manufacturing sector responsible for country’s economic growth. 7 Foreign Firms Jostle For Ajaokuta Steel Complex. Naija247news - Nigeria to start manufacturing arms & ammunitions with Ajaokuta Steel Company – Fayemi. Nigeria: '100 Percent Made-in-Nigerian Car Possible in Five Years' Sad, sorry tale of Otukpo rice mill. Lafarge set to expand production with three plants. Dangote to establish Sugar Factory in Kebbi. Naija247news - Bread: Sokoto Govt, investors plans flour mill. Nigeria's first car maker takes to the skies in fighter jets. DEFENCE INDUSTRY CORPORATION OF NIGERIA (DICON) OFFICIAL WEBSITE.
Nigeria: 2015 Wasn't Bad for Manufacturers - Report. Nigeria: Dangote Opens Tomato Factory to Vie With Chinese Imports.