Saturday, January 16

Tag: Manufacturers

High Cost Of Haulage From Lagos Port Rattles Importers, Manufacturers
Business

High Cost Of Haulage From Lagos Port Rattles Importers, Manufacturers

The cost of moving imports from Nigerian ports to other parts of the country has continued to rattle goods, manufacturers and operators of logistics. Experts have linked the exorbitant cost of movement of goods at the ports to the high cost of goods in the country, especially imported vehicles and consumables. Daily Trust findings showed that it costs around N1.6 million to transport a 40 feet container from Lagos to Kano from the previous N900, 000. The same 40 feet container costs N1.2 million to move to Abuja from the N800, 000 that was previously charged. A logistics expert, Alhaji Mohammed Danlami, described as “a nightmare”, the process of transporting containers and goods within and outside Lagos from the TinCan Port, in Apapa, Lagos. Truck hirers now pay at least N800, 00...
Japan To Fund Firms To Shift Production Out Of China
Business

Japan To Fund Firms To Shift Production Out Of China

Japan has earmarked of its record economic stimulus package to help its manufacturers shift production out of China as the coronavirus disrupts supply chains between the major trading partners. The extra budget, compiled to try to offset the devastating effects of the pandemic, includes 220 billion yen ( ) for companies shifting production back to Japan and 23.5 billion yen for those seeking to move production to other countries, according to details of the plan posted online. The move coincides with what should have been a celebration of friendlier ties between the two countries. Chinese President Xi Jinping was supposed to be on a state visit to Japan early this month. But what would have been the first visit of its sort in a decade was postponed a month ago amid the spread of t...
Nigerian Man among 176 Dead Victims of Ukrainian Airplane Shot Down by Iran
News

Nigerian Man among 176 Dead Victims of Ukrainian Airplane Shot Down by Iran

A Nigerian man identified as Dauda Onoruoiza has been confirmed as one of the 176 dead victims of the Ukrainian airplane that was shot down by Iran. The Kogi-born victim of the airplane crash was working with American airplane manufacturers, Boeing before the sad incident occurred. He was reportedly on a three months training with Boeing in Ukraine and was attached to the Boeing 737-800 aircraft to study its mechanical noise and report back to the company ahead of its maintenance scheduled on Monday January 13 in Ukraine. Recall that the airplane which was bound for Ukrainian capital of Kyiv, had 167 passengers and nine crew members from several countries. Asides the Nigerian, the crash victims include 82 Iranians, at least 63 Canadians and 11 Ukrainians. The crash occurred ju...
Innoson Replies Critics, Says “Rome Was Not Built In A Day”
Uncategorized

Innoson Replies Critics, Says “Rome Was Not Built In A Day”

1.Rome was not built in a day and the biggest room in the world is the room for improvement. Innoson Vehicles will continue to grow steadily, closing the gap little by little, improving on its vehicles and services till it becomes one of the greatest exports from Nigeria 2.Any careful observer that has been monitoring Innoson Vehicles from the very inception will observe that there has been a tremendous improvement. 3.This is because IVM is using the concept of regionalization in the production of its vehicles by making sure that it considers the local taste and consumer preferences of the African region during production. 4.We ensure we get feedback from the users of IVM in order to know their views on their IVM experience and with this feedbacks we seek better ways to improve ...
French Authorities Release CAF President, Ahmad
Sport

French Authorities Release CAF President, Ahmad

President of the Confederation of African Football, CAF; Ahmad Ahmad has been released. He was released by French anti-corruption officials on Thursday evening without charge. DAILY POST had earlier reported that the Police in France arrested the President of the Confederation of African Football (CAF) Ahmad Ahmad in Paris, capital of France on Thursday. FIFA had earlier confirmed Ahmad’s arrest by the French authorities in a statement. The statement read: “FIFA is unaware of the details surrounding this investigation and is therefore not in a position to make any comment on it specifically. “FIFA is asking the French authorities for any information that might be relevant to investigations taking place within its Ethics Committee. ...
Senate set to invite NPA, NIMASA, others, over Apapa gridlock
News

Senate set to invite NPA, NIMASA, others, over Apapa gridlock

The Senate Committee on Works says plans are underway to invite the Nigeria Ports Authority (NPA) in the coming week over lingering Apapa gridlock. The Chairman of the committee, Sen. Kabiru Gaya, made this known in a meeting with management of APM Terminals in Abuja on Thursday. He further said, NIMASA, farm tank owners, manufacturers and other relevant stakeholders have been invited to attend the meeting aimed at finding lasting solution to the problem. Gaya who said the challenge had become an embarrassment to the country, noted that only concerted efforts would bring about lasting solution. “We are expanding the committee to include,  Senate Committee on Marine Transport and by next week,  we will invite NPA and NIMASA to take a holistic look at the matter. “We w...
VAT Increment: Jagaban Has Spoken His Truth And They Are Quiet – Sani Shades FG
News

VAT Increment: Jagaban Has Spoken His Truth And They Are Quiet – Sani Shades FG

The lawmaker representing Kaduna Central seconded a call by Asiwaju Bola Ahmed Tinubu in which the APC chieftain urged the FG to halt every move to increase VAT in Nigeria. Addressing a gathering at the Bola Tinubu Colloquium on Thursday in Abuja, the national leader of the APC advised the Nigerian Government against the move and warned that such a decision was capable of worsening the nation’s economic challenges. “Consumers’ spending is slipping, and this is where I will stop and appeal to Professor Yemi Osinbajo, the Vice President, and his team to put a huge question mark on any increase of VAT, please,” the former governor pleaded. He added, “If we reduce the purchasing power of the people, we can further slow down the economy.” Following Tinubu’s call, Senator Sani took t...
Dr. Ling Zhipei Performs Remote Brain Surgery on Patient 3,000km Away
News

Dr. Ling Zhipei Performs Remote Brain Surgery on Patient 3,000km Away

Chinese doctor, Dr. Ling Zhipei has performed the first ever brain surgery over a 5G mobile network, according to Chinese media. A patient with Parkinson’s disease allegedly had an implant put in their brain by a doctor who was more than 1,800miles away (3,000km). The doctor who did the operation said the new technology could make it easier for medics to operate on people who live in more remote areas and can’t travel, Mirror UK reports.. Using 5G technology, Dr Zhipei remotely implanted a neuro-stimulator into his patient’s brain on Saturday, moving instruments in PLAGH hospital in Beijing. The patient was in a clinic on the other side of the country, on the southern Hainan Island. Allegedly, the surgery that ended successfully lasted for thre...
Drug importation, not in the interest of Nigerians – SKG boss
News

Drug importation, not in the interest of Nigerians – SKG boss

Managing Director of SKG Pharma Limited, Dr. Okey Akpa, has tasked the Federal Government on medicine security, saying “it is not in the interest of national security for Nigeria to depend largely on imported drugs for the health care needs of a population of over 180 million people”. Akpa further called on the Federal Government and other tiers of government to adopt and implement the concept of Medicines Security, a strategic document developed by the Pharmaceutical Manufacturers’ Group of the Manufacturers Association of Nigeria (PMG-MAN). The concept was developed to ensure that the pharmaceutical industry in Nigeria is encouraged through policy and political will to produce adequate, quality and affordable drugs locally for the health needs of Nigeria. Akpa, who spoke in Lago...
Police Arrest 4 People For Producing Fake Dettol In Lagos
News

Police Arrest 4 People For Producing Fake Dettol In Lagos

4 people identified as Francis Ume, 32; Chidubem Achezie, 44; Peter Ume, 44; and Ejike Jacob, 41, have been arrested by the Lagos Police for allegedly producing fake Dettol disinfectant and Air Wick air freshener in the Okokomaiko area of the state, Punch Metro reports. Police arrest 4 people for producing fake Dettol in Lagos The state Commissioner of Police, Edgal Imohimi, told journalists on Wednesday that the Divisional Police Officer in charge of the Okokomaiko Police Station, CSP Aliyu Lukman, acting on a tip-off, mobilised his operatives to the suspects’ operational base and arrested them. He added that the operatives also impounded a truck loaded with cartons of the fake Dettol and air freshener valued at N7m. Police arrest 4 people for producing fake Dettol in Lago...
This is shameful – Daddy Freeze reacts to dedication of world’s largest church auditorium in Abuja
Celebs

This is shameful – Daddy Freeze reacts to dedication of world’s largest church auditorium in Abuja

Daddy Freeze, leader of ‘Free the Sheeple’ movement has reacted to the dedication of the world’s largest church auditorium in Abuja. Recall that we reported that the world’s largest church auditorium which is a 100,000 seater capacity building owned by the Dunamis International Gospel Center, was dedicated yesterday and had Vice President Yemi Osinbajo, Speaker Yakubu Dogara, former President Goodluck Jonathan, Dino Melaye, Akwa Ibom state governor Emmanuel Udom, Benue state governor Samuel Ortom, Bishop David Oyedepo, Pastor E.A Adeboye and many others in attendance. Reacting to this, Daddy Freeze stated that opening the largest Pentecostal business center in the world is shameful and hypocritical especially when it comes from the poverty capital of the world. Read h...
Quality Products, Services Indices to Global Competitiveness, Says UNIDO
News

Quality Products, Services Indices to Global Competitiveness, Says UNIDO

A national expert on Food Safety, United Nations Industrial Development Organisation (UNIDO), Dr Funsho Tehinse, has said that quality products and services are indices to global competitiveness in Africa. Tehinse, who spoke on the occasion of the Africa Industrialisation Day, said this in an interview with the News Agency of Nigeria (NAN) Wednesday in Abuja. This year’s theme of the annual event is ‘Promoting Regional Value Chain in Africa: A Pathway for Accelerating Africa’s Structural Transformation, Industrialisation and Pharmaceutical Production’. Tehinse, a member of the Nigeria Food Science and Technology Institute (NFSTI), said that Africa has products to sell, and urged Africans to key into the production of quality goods and services. “This year’s celebr...
Manufacturers’ Inventory Up 255% In One Year
News

Manufacturers’ Inventory Up 255% In One Year

The Manufacturers Association of Nigeria (MAN) said the inventory of unsold finished products in the warehouses of members of the association rose by 255 percent to N321.12 billion in 2017 from N90.43 billion in 2016. Immediate past President of MAN, Dr Frank Jacobs, stated this in Lagos at the 46th Annual General Meeting (AGM) of the association which discussed the theme, “Mainstreaming. Policies to Catalyse Industrial Renaissance”. Jacobs, whose four-year tenure ended at the AGM, noted that the inventory of unsold products, inadequate electricity supply, frequent increase in electricity tariff and abnormally high interest rates were some of the problems bedeviling the sector. He stated: “Inventory of unsold finished goods increased to N161.53 billion in the second half of 20...
Edo Hosts Stakeholders For Industrial Policy Validation
Aware

Edo Hosts Stakeholders For Industrial Policy Validation

To set a definite course for its industrialisation drive, the Edo State government will be hosting stakeholders in the industrial sector, comprising trade unions, chambers of commerce and manufacturers, to a validation session for the newly drafted Edo Industrial Development Policy on Thursday. R-L: Edo State Governor, Mr. Godwin Obaseki (second left); Public Relations Officer, Time Ceramics Nigeria Ltd, Nicole Zhang (left), during the governor’s tour of facilities at the company, in Utesi, Ikpoba-Okah Local Government Area, Edo State, on Saturday. The Focal Person for the Edo Industrial Policy and Senior Special Assistant to Governor Godwin Obaseki on Investment Promotion, Mr. Kelvin Uwaibi, in a statement, said the session would serve to engage stakeholders in the sector especi...
Samsung Retakes Global Smartphone Lead, Apple Down To Second – Trendforce
News

Samsung Retakes Global Smartphone Lead, Apple Down To Second – Trendforce

Samsung retook the lead in global smartphone sales in Q1 of 2017 by securing 26.1% of all sales, new report from TrendForce says. Apple returned to its usual second position with 16.9% The study quotes strong performance of the Galaxy J series phones as the reason for the shift. Back in Q4 of 2016 Apple was on top with 20.3%, capitalizing on the launch of its iPhone 7 pair. Along with Samsung Huawei was the only other brand to increase its share compared to the previous quarter, solidifying its grasp on the third place. Oppo, vivo and LG follow, but all lost ground compared to Q4 of 2016. TrendForce also took a closer look at the Chinese manufacturers, who now combine to produce just over 46% of all smartphones. Xiaomi ranks fourth there, some way off the top three mentioned above, but ...
Manufacturers Urge CBN To Raise Special Window Allocation To Smes To $100,000
News

Manufacturers Urge CBN To Raise Special Window Allocation To Smes To $100,000

Manufacturers Urge CBN To Raise Special Window Allocation To SMEs To $100,000 source: http://www.eyesoflagos.com/2017/04/manufacturers-urge-cbn-to-raise-special.html Adegbite told the News Agency of Nigeria (NAN) on Wednesday in Ota, Ogun, that such a decision would effective help the Small and Medium Enterprises ( SMEs) to import raw materials and boost the economy. The CBN, through its Acting Director, Corporate Communication Department, Mr Isaac Okorafor, on Monday in Abuja, announced that the apex bank had opened a special window of $20,000 quarterly for SMEs to enable them to import eligible finished and semi-finished items into the country. The bank also said that its special intervention became necessary after finding out many SMEs were being crowded out of the foreign e...
CBN Lifts Manufacturing, Power With $660m Forex Disbursements
News

CBN Lifts Manufacturing, Power With $660m Forex Disbursements

The Central Bank of Nigeria (CBN) has disbursed $660.17 million to 1,342 manufacturers, power and other real sector operators for the procurement of raw materials, plants and machinery, foreign exchange (forex) utilisation report by apex bank has shown. The funds, sourced from the CBN and sold to the beneficiary customers at the official rate of about N30.5 to dollar, were handled by commercial, merchants and non-interest banks using the interbank market. The funds were specifically used for the procurement of raw materials, plants and machinery as specified in the Letters of Credit (LCs) under which they were sourced, and in-line with the CBN-stipulated import approval list. The forex utilisation report was meant to promote transparency and accountability on the side of the lenders...