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Manufacturing
LCCI Hails Dangote On Poverty Reduction, Job Opportunities
Organized Private Sector under the auspices of the Lagos Chamber of Commerce and Industry (LCCI), on Wednesday, lauded the contributions of Dangote Industries Limited (DIL) to poverty reduction efforts of the Federal government, especially…
Ford Shares Fall After Pulling Full-Year Forecast, Wider Losses In EV Unit
Shares of Ford Motor Co closed down 12.3% on Friday after the automaker reported a wider loss from its electric-vehicle (EV) business due to pressures from a price war, sparked by industry leader Tesla.
The Detroit automaker also pulled…
Lagos, CIG Motors Agreement Produces 2000 Cars
A Joint Venture Agreement (JVA) sealed by Governor Babajide Sanwo-Olu with CIG Motors - a Chinese automobile company - has birthed a new Vehicle Assembly Plant which has produced 2000 cars.
The vehicle assembly plant sited in Lagos is a …
Nigerian Breweries Hikes Beer, Beverage Prices
Beginning Monday 9th October, Nigerian Breweries will hike the prices of its products to mitigate the impact of the rising cost of inputs occasioned by the rising inflation in the country.
NBL is the brewer of Star Lager, Gulder Lager, …
BUA Slashes Cement Price To N3,500/bag From Monday
Effective Monday, October 2, the management of BUA Cement Plc will slash the price of its product to N3,500 per bag as earlier promised.
The price of BUA Cement was N5,500 per bag and the Chairman, of the company, Abdul Samad Rabiu,…
FG To Spend N75bn To Strengthen Manufacturing Sector – Minister
The Minister of Industry, Trade and Investment, Doris Uzoka-Anite has disclosed that the Federal government has concluded plans to spend N75 billion by March 2024 to strengthen the manufacturing Sector.
The Minister stated this at the…
Volkswagen Halts Production Over Major IT Components Malfunctioning
Europe's top carmaker, Volkswagen halted production in Germany on Wednesday following a major malfunction of IT network components.
Reuters report noted the whole group, which includes the Porsche AG and Audi brands, was affected.
A…
Rising Sales Trigger Toyota Plans For Third Indian Plant, New SUV
The rising volume of domestic sales owing to the partnership with Suzuki Motors is likely to trigger the third Toyota Motor plant in India in an effort to expand production capacity in the country for the first time in over a decade.
Two…
Manufacturers’ Ability To Create More Jobs Eroded In H1 2023
Following a 56.5 per cent dip in capacity utilisation and an increase of N84.88 billion in the value of its unsold inventory, Nigeria's manufacturing sector's employment generation capacity dropped to 6428 in the first half of 2023.
This…
Elon Musk Says Auto Union’s Demands Would Bankrupt Big Three Carmakers
Tesla Inc. Chief Executive Officer Elon Musk blasted the United Auto Workers Tuesday, saying the union’s demands would “drive GM, Ford and Chrysler bankrupt in the fast lane.”
President Joe Biden endorsed the UAW’s demand for a major…