…services. The strategic location is also expected to facilitate the movement of raw materials and finished products while improving access to distribution channels across the country. The project is further expected to stimulate economic activities in Sagamu, Obafemi-Owode and neighbouring communities through increased…

…recalling that businesses previously struggled to obtain dollars for machinery and raw materials even when they had sufficient naira to finance their investments. “Legitimate businesses can now access foreign exchange through the market at prevailing exchange rates, rather than depending on direct allocations from the…

…dependence on imported finished goods by expanding domestic manufacturing, processing raw materials locally and strengthening its export capacity. Rabiu made the call on Monday while delivering a keynote address at the 32nd Nigerian Economic Summit in Abuja, where he argued that Nigeria could not achieve sustainable ec…

…You could have all the naira but be unable to obtain the foreign exchange needed to buy raw materials and machinery,” he recalled. Also present at the opening session of the summit were the governors of Anambra and Lagos states, Prof. Chukwuma Soludo, and Mr. Babajide Sanwo-Olu, respectively; the Minister of Budget and…

…Neda Imasuen, has faulted the global economic system that allows Nigeria to export raw materials such as cocoa and import finished products, including chocolate, at significantly higher prices. Imasuen warned that the imbalance deprives resource-rich developing countries of the benefits of their natural resources, cont…

…This divergence highlights a growing trend where businesses are facing higher costs for raw materials and logistics but are forced to lower final selling prices to maintain consumer demand. CBN concluded: “Overall, the September 2026 PMI points to a strengthening recovery in economic activity, buoyed by sustained expan…

…emerging framework, the Gateway Deep Sea Port would provide access for the movement of raw materials, equipment and finished goods. The Blue Marine Special Economic Zone would serve as the industrial and logistics platform, while OGLNG could provide the gas and energy base needed to support industries within and beyond…

…goods.A weaker local currency increases what businesses need to pay for machinery, raw materials, and other imports priced in dollars.For households, the pressure can eventually show up in the prices of imported food, fuel, electronics and other consumer products.It can also raise the local-currency cost of servicing f…

…technologies, energy systems and industrial production. Yet Africa frequently exports raw materials while importing finished products made from those same resources. Mahama’s response was unequivocal: “We will process our minerals at home.” That is not merely an economic slogan. It is a development strategy. If Africa…

…rate, manufacturers’ dependence on imported machinery, spare parts and strategic raw materials, as well as weak coordination between monetary and fiscal policies as major constraints. “The fourth one is the weak handshake between the monetary and fiscal policy. You see the government coming up with one monetary policy…

…charges, and foreign Exchange Volatility, which affects imported SKD/CKD kits and raw materials” are elements pushing up the cost of new vehicles in Nigeria. “Sub-scale factory runs elevate unit costs compared to high-volume global plants. High interest rates and rigorous collateral terms limit formal vehicle asset fin…

…what you are able to build. We can no longer afford an economy built only on exporting raw materials to one market and importing finished goods from another. The African Continental Free Trade Area gives us the platform to build regional value chains. At the same time, we must diversify globally.This is why we welcome…

Africa must stop exporting raw materials and instead focus on adding value to its natural resources if it is to fully harness the opportunities offered by the African Continental Free Trade Area. The National Coordinator and Chief Executive Officer of the Nigeria AfCFTA Coordination Office, Patience Okala, said this on…

…towards supply chain diversification to industrialise instead of remaining exporters of raw materials. Warning that the continent could squander a historic opportunity, she added, “Quite frankly, the time to seize this opportunity is now. As geopolitics exerts some demand pressure for critical mineral supply chain dive…

…purchasing the approved assets.NMFB or its agent will take delivery of the equipment and raw materials.Sign the "Murabahah Agreement" to finalise the contract after delivery is complete.Returning applicants can log in with their BVN, last name, and reference number on the NIRSAL microfinance bank website and follow the…

…the continued movement of raw oranges out of Benue could undermine the steady supply of raw materials needed by the Bensono Concentrate Factory and other citrus processing facilities established by the Benue State Government. Dr Asemakaha noted that the state had invested heavily in citrus processing and could no longe…

…windows for manufacturers, lower import costs for industrial machinery and essential raw materials, and long-term development finance to support investment and expansion. He expressed concern over the continued decline in credit to manufacturers, warning that industrialisation would remain constrained if productive ent…

…economic growth while neglecting the communities that produce its food, supply its raw materials and sustain its local economy. Rural development must therefore be regarded not merely as a social obligation but as a strategic economic priority,” he said. The bill (HB 2795), first read on July 9, 2026, also proposes the…

…percent and the oil sector with 19.63 percent, reflecting continued reliance on imported raw materials, machinery and petroleum products. Food products accounted for 10.57 percent of total FX utilisation, while the transport sector represented 5.25 percent. The minerals and agricultural sectors accounted for 1.04 perce…

…"We have what it takes to build this continent. Do we continue to exploit and export raw materials without value addition? That answer is no. `We have solid mineral deposits such as lithium and others that can be used, and you, as the financial partner, should be able to come with investment guarantees for the producti…

…in which materials are reused rather than treated as waste. If we continue extracting raw materials without recycling, we will face serious environmental and resource challenges," he added. In her remarks, the Director, Health, Safety and Environment, HBM Nigeria Plc, Rachel Ezembakwe, stressed that worker safety, desi…

…value: introducing higher-value crops, building local processing facilities, or refining raw materials domestically instead of exporting them unprocessed. Uganda, for example, has several artisanal gold mines but very limited refining capacity, which means much of the value leaves the country before export. Our role is…

…investing in local sourcing and value addition to reduce exposure to imported raw materials, but stressed that the prevailing exchange rate remains too high to support competitive industrial production. Ajayi-Kadir warned that although AfCFTA offers Nigerian manufacturers access to a wider continental market, the count…

…firefighters," an eyewitness said. Among the goods and property damaged by the fire were raw materials, production machines, testing equipment and other items within the premises. Confirming the incident on Sunday, the Head of Media and Publicity of the Anambra State Fire Service, Chukwudi Chiketa, said a fire crew and…

…Also, it’s close to the border, so I can easily travel out, and it’s quite close to the raw materials we use for our products. Alaa Hamadto and her team members. Image source: Alaa Hamadto Talking about where this all started, you saw your father building something like this in the past. As a little girl then, what did…