Business – Page 1055

Govt receives locally assembled CNG buses for airport shuttle

02.01.2025

The Federal Government has taken delivery of the first batch of locally assembled Compressed Natural Gas buses, marking the beginning of their deployment for airport shuttle services across Nigeria. This disclosure was made in a statement on Tuesday. The buses, produced by Lanre Shittu Motors, were received at the Murtala Muhammed Airport, Lagos, by officials...

WTO, bank unveil database in minerals trade

02.01.2025

The Asian Development Bank and the World Trade Organisation Secretariat have jointly launched the Trade in Critical Minerals database to enhance transparency in the trade of critical minerals crucial for the clean energy transition. Unveiled on November 20 at the COP29 climate change conference in Baku, the TiCM database provides policymakers, researchers, and stakeholders with...

UNIDO hosts forum to advance AI adoption

02.01.2025

The United Nations Industrial Development Organisation has announced hosting the inaugural Artificial Intelligence for Industry and Manufacturing Global Forum, spotlighting the transformative potential of artificial intelligence in industry and manufacturing. The event held recently at the Vienna International Centre, brought together global leaders, policymakers, academics, and industry experts to discuss best practices and strategies for...

SON advances standards for African traditional medicine growth

02.01.2025

The Standards Organisation of Nigeria has reaffirmed its dedication to promoting African traditional medicine by developing internationally competitive standards. This was emphasised during the 18th National Technical Mirror Committee meeting on African Traditional Medicine held recently at Lagos State University in Lagos. In his opening address, SON Director-General, Dr. Ifeanyi Okeke, represented by the Director...

Techno Dombai bags humanitarian service award

02.01.2025

Fast-rising engineering company, Techno Dombai Engineering Limited has announced that it has clinched the Humanitarian Service Award at the just concluded Y’s Men’s Club of 2024 President’s Investiture, a service club of and for Young Men’s Christian Association and Award Ceremony Programme. The event recently held in Lagos brought together corporate leaders, dignitaries and representatives...

Firm connects designers and global audiences with tec

02.01.2025

Pashione, an African fashion-tech platform, is using technology to connect designers across the continent with global consumers, its founder, Michael Fasere, said in a statement on Saturday. The platform, which operates in countries such as Nigeria, Kenya, Lesotho, South Africa, and Senegal, has over 960 registered vendors showcasing African designs. “We saw a unique opportunity...

Stakeholders seek urgent reforms in manufacturing sector

01.01.2025

Stakeholders have observed that Nigeria’s manufacturing sector, vital to the nation’s economic advancement and diversification, is beset by entrenched obstacles that call for immediate and transformative reforms. Despite its potential to drive industrialisation and reduce dependence on imports, the sector continues to grapple with policy inconsistencies, inadequate infrastructure, and persistent energy crises. Industrial policy inconsistencies...

W’Bank supports low-income countries with $17bn

01.01.2025

The World Bank has invested $17bn of the $51bn provided by multilateral institutions to support low- and middle-income countries facing a growing debt crisis. The lender said the COVID-19 pandemic exacerbated the debt burdens of developing nations, and the subsequent rise in global interest rates has made it even harder for many to recover. The...

Onne Customs command generates N634bn revenue – Official

01.01.2025

The Nigerian Customs Service, Area 2 Command, Onne in Rivers State said its officials have seized twelve 40-foot containers of medicine illegally imported into the country with a duty paid value of N20.309bn. This is as the Command said it generated N634bn in 2024 surpassing the N618bn revenue target it was given at the beginning...

FG votes N365bn for new road projects

01.01.2025

The Federal Ministry of Works, under the leadership of the Minister of Work, David Umahi, has proposed N365.44bn to fund the construction of new road projects and purchase of operational vehicles. However, earlier in the year, Umahi made a public announcement not to include new road projects in the 2025 budget. The proposed N365.44bn is...