First Bank restates commitment to SMEs, Agric Sector growth

By Elizabeth ADENUGA First Bank of Nigeria Pls has expressed its commitment to the growth of the agricultural value chain and creating opportunities for the Small and Medium Enterprises (SMEs) to thrive in the country. Its Group Head, Marketing and Corporate Communications, Mrs Folake Ani-Mumuney, made the assertion on Sunday at the fourth edition of Fiesta of Flavours in Lagos. The  Fiesta of Flavours is a food and beverage fair that provides an avenue for participants to fully experience the entertainment, art and business of food. The fair organised by First Bank in…

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FG opens Ijora 7Up Bridge, working on Third Mainland, Alaka Bridges

By Kunle SHONUGA The Federal Ministry of Power, Works and Housing on Friday opened the Ijora 7Up Bridge which was closed to traffic for repairs in July, after undergoing rehabilitation works. The  ministry has also began rehabilitation works on the Third Mainland Bridge and Alaka Bridges. While opening the Ijora Bridge to traffic, the Federal Controller of Works in Lagos, Mr Adedamola Kuti, said that the damaged bridge was closed for repairs about five months ago. Kuti said that all the expansion joints on the bridge were bad, saying that…

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IATF: Nigerian professionals in Egypt sponsor four SMEs

By Aliyu DANLADI The Association of Professional Nigerians in Egypt (APNEG) said it would sponsor four Nigerian small businesses to participate in the inaugural Intra-African Trade Fair (IATF) in Cairo from Dec.  11 to 17. The association’s President, Mr Obi Emekekwu, said this in a statement on Friday in Abuja. The trade fair is being organised by the African Export-Import Bank (Afreximbank) in collaboration with the African Union Commission. It is be hosted by the government of Egypt and has attracted more than 1,000 registered exhibitors from 41 countries and…

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SON seeks approval to stay at ports to check substandard imports

By Thompson ABISOLA The Standards Organisation of Nigeria (SON) says it will reduce the importation of substandard products by 75 per cent by 2019, if permitted to stay in the ports. SON’s Director of Inspection and Compliance Directorate, Mr Obiora Manafa,  made this known in Lagos on Friday. The director, who spoke against the backdrop of enforcement, told NAN that SON’s invitation to partake in cargo examination at the port was stalling its operations. “It is not in our interest and that of the nation for sister operatives resident at…

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SON partners freight forwarders on substandard imports

By Aliyu DANLADI The Standards Organisation of Nigeria (SON) on Thursday in Lagos said it was aligning with freight forwarders to che ck importation of substandard goods. It said it organised the one-day sensitisation workshop was for Maritime Stakeholders Awareness Forum to enlist the assistance of the maritime operators in the fight against substandard goods. The theme of the workshop was “Collaboration as a Tool for Zero Substandard Import.” The Director-General (DG) of SON, Mr Osita Aboloma, described freight forwarders as critical in the organisation’s quest for standardisation. The DG,…

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LCCI tasks FG on improvement of business environment

By Aliyu DANLADI The President, Lagos Chamber of Commerce and Industry (LCCI),Mr Babatunde Ruwase says the Federal Government has a huge task in fostering an environment where businesses can thrive better. Ruwase stated this during the Chamber’s Annual General Meeting in Lagos on Thursday. He said that sound and result-oriented business regulations were critical for private sector development. According to him, in 2018, businesses experienced frequent incidence of regulatory challenges, leading to increased burden on businesses; higher cost of operation; waste of executive time; and reputational consequences. “These manifested in…

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SON set to publish list of manufacturers/importers of adulterated lubricants

By Thompson ABISOLA The Standards Organisation of Nigeria (SON) says it will blacklist and publish names of erring importers and manufacturers of fake and substandard lubricants in the country. The Director General, SON, Osita Aboloma, in a statement issued in Lagos, said that it was a decision reached by the organisation on Wednesday, after the opening of its office in Nassarawa. He said that the action would also send a strong warning to unscrupulous individuals to desist from the nefarious trade in fake and substandard lubricants. According to him, ‘‘the…

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FIIRO develops technology for sweetener production

By Kunle SHONUGA The Federal Institute of Industrial Research Oshodi (FIIRO) has developed a technology for commercial extraction and optimisation of high grade Thaumatin, a low calorie sweetener and flavor modifier. The Director General, FIIRO, Gloria Elemo, disclosed this on Wednesday in Lagos during the International conference on alternative sweeteners themed: “Harnessing of the economic potential of Thaumatin (Thaumatococcus danielli) in Africa.” Thaumatin is a low-calorie protein sweetener and flavor modifier extracted from the fruit of a West African plant Thaumatococcus daniellii, and is totally natural with an intense sweetness.…

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De-emphasise force in security breaches in North East, Niger Delta, Publisher urges FG

By Giwa SHILE President, NewsTime International,  Mr Tony Oyatedor, on Tuesday advised the Federal Government to initiate peace moves to end insurgency in the North East and militancy in the Niger Delta. Oyatedor, who spoke at a news conference in Abuja, said the current military approach of the use of weapons to end crisis only magnified rather than mitigate the problem. According to him, Nigeria needs to make peace with the twin problems, because the country is nourished by food from the North and oil from the Niger Delta. He…

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Africa’s pharmaceutical market fastest growing globally with estimate of $60bn by 2020 –UNIDO

By Meleltus EZE  The United Nations Industrial Development Organisation (UNIDO) says Africa’s pharmaceutical market is one of the fastest growing in the world, estimated $60 billion by the end of 2020. The UNIDO’s Regional Director in Nigeria, Mr Jean Bakole, disclosed this at event to mark 2018 African Industrialisation Day and Nigeria Quality Award Day in Abuja on Tuesday. The event was organised by United Nations Industrial Development Organisation (UNIDO) in collaboration with the Ministry of Industry, Trade and Investment. The theme of this year’s Day is “promoting Regional Value…

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