Imports of raw materials into Nigeria rose to $5.65bn (N2.32tn) last year amid the COVID-19 pandemic from N1.34tn in 2019, according to data from the Nigerian Bureau of Statistics.
 
The NBS said in its latest Foreign Trade Statistics report that the value of total trade in raw material stood at N762.6bn in the fourth quarter of 2020. It said the import component was valued at N715.7bn while the export component stood at N46.9bn…
 
More details through:
https://punchng.com/nigerias-raw-materials-imports-rise-to-n2-32tn/

Manufacturers Association of Nigeria (MAN) expended about $199.7 million (N81.91 billion) on alternative energy sources in 2020, even as it recorded decline in investment. The Association made the disclosure in its executive summary bi-annual review of the economy for the second half of 2020. The report adduced the loss and decline in investment to the depressing fallouts of COVID-19. The review explained that the expenditure on alternative energy sources increased by N20.53 billion from N61.31 billion recorded in 2019…
 
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https://www.sunnewsonline.com/man-expends-n81-9bn-on-alternative-power/

To reduce the incessant encroachment on Nigeria’s pipeline network, an Austrian Firm, ScanTECH Isoplus, has said that it is set to build one of the largest intrusion detection pipelines systems in the country.
 
The company noted that major agencies and institutions of government, like the Nigerian National Petroleum Corporation (NNPC) and international oil companies (IOCs) could be key beneficiaries of its investment commitment in that respect.
 
Essentially, pipeline intrusion detection systems, have the capability to discern Third Party Interference (TPI), illegal tapping attempts and unauthorised excavation along buried pipelines; from a few to thousands of kilometres…
 
More details through:
https://www.thisdaylive.com/index.php/2021/01/18/austrian-firm-to-build-pipeline-factory-in-nigeria/
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Beer maker Heineken B.V. is on track to expand its control of the Nigerian brewery business, after racking up further 1,903,609,538 ordinary shares of Champion Breweries Plc in a move bringing its stake in the Uyo-based brewer to 84.7 per cent.
 
Heineken, headquartered in Amsterdam, Netherlands, consummated the share acquisition through its Nigerian subsidiary, Raysun Nigeria Limited, putting it in a strong position as the majority shareholder to make a takeover attempt. It will help broaden its dominance beyond Nigeria’s most capitalised beverage maker, Nigerian Breweries Plc, where Heineken wields 37.94 per cent stake via ownership of 3,034,100,563 shares.
 
Consumers in Nigeria, Brazil and the United Kingdom – the brewer’s three biggest markets – drank 1 million hectolitres of Heineken brands in the 12 months of 2019, according to its 2019 financial results…
 
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https://www.premiumtimesng.com/business/436655-heineken-extends-dominance-of-nigerian-brewery-market-with-potential-champion-breweries-takeover.html

Nigeria Breweries Plc has invested N5bn in a new automated PET line for packaging non-alcoholic drinks.
 
Speaking at the unveiling of the ultra-modern packaging line in Ijebu-Ode Brewery on Thursday, the Governor of Ogun State, Prince Dapo Abiodun, expressed belief that the investment would bring immense economic opportunities to the state. He said the expansion of the brewery would boost the Gross Domestic Product of the country.
 
The governor expressed joy at the success of the project, saying the location of the brewery was strategic to the development of the state…
 
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https://punchng.com/nigeria-breweries-invests-n5bn-in-new-automated-line/

Three bodies, Waltersmith, United Nation Industrial Development Organization and United Nations Economic Commission for Africa have signed a technical support agreement with respect to the development of an Industrial Park by Waltersmith, the first of its kind in Nigeria, which will attract petrochemical, pharmaceutical, research and other light manufacturing companies that feed off the hydrocarbon value chain.
 
The industrial park is being developed with the support of the UNIDO and UNECA as part of Nigeria’s country programme with the Ministry of Industry, Trade and Investment. “This signing ceremony essentially flags off the industrial park development and we are excited about the technical support UNIDO and UNECA are willing to provide to Waltersmith as this will help us attract several companies to the park area. Our goal is to create an industrial cluster in Ibigwe and help reduce manufacturing costs, position the South- Eastern region as a major manufacturing hub and take advantage of the African Continental Free Trade Agreement which the Nigerian government has currently signed on,” said Abdulrazaq Isa, Chairman Waltersmith Group…
 
More details through:
https://www.newtelegraphng.com/un-bodies-partner-firm-on-industrial-park-in-nigeria/
 
 

The manufacturing sector’s Purchasing Managers Index (PMI) in the month of November stood at 50.2 index points, inidcating a growth from the October figure of 49.4 per cent. This was disclosed by the Central Bank of Nigeria (CBN) in its October PMI report released on Wednesday.
 
According to the report, eight sub-sectors out of 14 sub-sectors surveyed, reported expansion (above 50 per cent threshold) in the month under review.
 
It listed the sub-sectors that expanded as transportation equipment, nonmetallic mineral products, furniture & related products, cement, textile, apparel, leather & footwear, plastics & rubber products, food, beverage & tobacco products, and printing & related support activities…
 
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https://www.premiumtimesng.com/business/business-news/426761-nigerias-manufacturing-sector-records-growth.html

The Dangote Group said its two billion-dollar granulated urea fertiliser plant located at Ibeju Lekki, Lagos will begin operation before the end of December. Anthony Chiejina, Group Head, Corporate Communications, Dangote Group, confirmed the development to the News Agency of Nigeria (NAN) on Wednesday in Lagos.
 
More details through:
https://www.premiumtimesng.com/business/business-news/424575-dangote-fertiliser-plant-to-begin-operation-december-official.html
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The total profit made by cement marketing companies in the country in the first nine months of the year amounted to N81.6bn. This is in contrast to N63.7bn the firms gained in the same period in 2019.
 
The cement manufacturing companies, Lafarge Africa Plc and BUA Cement Plc, saw their profits for the period ended September 30 swell by N17.9bn to N81.6bn from N63.7bn in the first nine months of 2019…
 
More details through:
https://punchng.com/cement-firms-grow-profits-by-28-1-in-nine-months/

Nigeria imported manufactured goods worth $7.32bn (N2.78tn) while the total export component was N254.2bn between April and June.
 
According to figures obtained from the National Bureau of Statistics on foreign trade statistics for the second quarter, this amounted to a difference of N2.52tn in the period under review. According to the NBS, N757.99bn, N885.98bn and N1.14tn manufactured goods were imported in April, May and June respectively. It also revealed that N137.06bn, N82.07bn and N35.03bn were exported in April, May and June respectively…
 
More details through:
https://punchng.com/nigeria-imported-n2-78tn-manufactured-goods-in-three-months-nbs/