In a bid to deepen the bilateral trade between Nigerian and Russian businesses, nine Russian firms have indicated interest to invest over $500 million in the Nigeria’s manufacturing sector.
 
Chairman, Nigerians in Diaspora Organisation (NIDO), Russia, Mr Sampson Uwem-edimo, made this known in Lagos, ahead of the forthcoming Russia- Nigeria Business conference. NIDO chairman pointed out that the volume of trade between both countries was below expectation, not withstanding  the  Gross Domestic Product (GDP) of both countries…
 
More details through:
https://www.sunnewsonline.com/manufacturing-sector-to-get-500m-boost-from-russian-firms/

Kwara State Executive Council has approved the award of contract for the establishment of a garment production factory in Ilorin, the state capital. To be known as Garment Production Village, the factory, Commissioner for Enterprise, Hajia Arinola Lawal, said, is expected to provide job opportunities for thousands of Kwarans, particularly youths and women. Presenting the memo at the council meeting and explaining the bidding process for such highend projects in line with the procurement law, the commissioner put the cost of the garment factory at N1.8 billion to be awarded to Freshvine Nigeria Ltd out of the three firms that bidded for it…
 
More details through:
https://www.newtelegraphng.com/kwara-unveils-job-opportunities-with-n1-8bn-garment-factory/
​

Nigerian billionaire Aliko Dangote’s new fertiliser plant near Lagos will export its first shipment in late June or early July, to Louisiana, while the majority of exports from the plant are expected to go to Brazil, Dangote said on Tuesday.
 
The new plant at the Lekki Free Zone in Lagos State, designed to manufacture 3 million tonnes of urea per year, will also be able to supply all the major markets in sub-Saharan Africa, Dangote told a virtual economic forum hosted by Qatar.
 
“Apart from meeting the domestic demand, we are going to be able to earn quite a lot of money exporting the goods to the South American countries,” he said…
 
More details through:
https://www.reuters.com/article/idUSKCN2DY1D7
​

Pacegate Energy and Resources Limited (PEARL), an arm of Pacegate Limited, in collaboration with its partner, Canadian Energy Solutions (CES) Limited has launched an ultra-modern chemical manufacturing plant in Nigeria
 
The 12.9 metric tons per day chemical manufacturing plant located at Ilupeju Industrial Avenue, Lagos would be formulating and manufacturing drilling chemicals, water and oil -based production chemicals to serve its clients in the oil and gas industry as well as the transportation sector.
 
The plant was inaugurated recently by the Minister of Industry, Trade and Investment, Mr. Adeniyi Adebayo, in the presence of the Indian High Commissioner to Nigeria, Mr. Abhay Thakur; among other industry stakeholders…
 
More details through:
https://www.thisdaylive.com/index.php/2021/06/02/pearl-partners-canadian-firm-for-chemical-production/
​

The paper industry in Ogun State is about to get a big boost as the Dahua Paper Company Nigeria Limited, Owiwi in Ewekoro Local Government Area of the State says it is set to invest $500 million on tree plantation for paper production in the state.
 
A working Partner in the company, Prince Bayo Ikujenyo made this known when the State Commissioner for Industry, Trade Investment, Mrs. Kikelomo Longe, and her team visited the company stating that the project which would be a 10,000-hectare tree plantation is segmented into the cultivation of 2,500 hectares of trees annually for four years.
 
He was quoted in a statement signed by the Press Officers, Ministry of Industry, Trade and Investment, Ogun State, to have said the company had sought the approval of the state government for the 10,000 hectares of land needed adding that with the project, ” a minimum of 5,000 workers would be directly employed and two million indirect jobs would be created…
 
More details through:
https://www.thisdaylive.com/index.php/2021/05/31/500m-investment-underway-in-ogun/

Nigerian Breweries Plc has unveiled plans to achieve over 70 per cent renewable energy usage by 2030, describing the move as part of its contribution to reducing carbon footprints from its production plants across the country.
 
The Managing Director, Jordi Borrut Bel, who stated this at the official commissioning of its 663.6kw solar power plant in Ibadan, said the project would reduce its carbon emission from its Ibadan brewery by 10,000 tonnes over its lifespan.
 
“We are brewing a better world by significantly reducing carbon emission from our production sites by 2030,” he said. He noted that plans are also underway to expand the project as well as commission other similar solar plants in all its Aba, Enugu and Lagos bottling plants…
 
More details through:
https://guardian.ng/business-services/nigerian-breweries-eyes-800mw-yearly-power-generation-70-renewable-energy-utility/
​

Unicane Industries Limited has announced the completion of the second phase of its plant extension, making it the largest ethanol producer on the continent.
 
Unicane, a manufacturer of ethanol in Lokoja, Kogi State, made the announcement in a statement made available to our correspondent on Tuesday. The company stated that the expansion of the plant would boost national sufficiency in the production and export of Extra Neutral Alcohol…
 
More details through:
https://punchng.com/unicane-expands-to-begin-ethanol-export-from-nigeria/

The Nigerian Content Development and Monitoring Board (NCDMB), has said it was open to discussions around investment opportunities aimed at reviving the ailing Ajaokuta Steel Company, in Kogi State.
 
Minister of Mines and Steel Development, Olamilekan Adegbite, had last year, hinted that the resuscitation of the Ajaokuta Steel Company and the National Iron Ore Mining Company (NIOMCO) projects will gulp about $1.45 billion (about N522 billion).
 
Executive Secretary, NCDMB, Mr. Simbi Wabote, stated this at a media briefing on the 2021 virtual Nigeria Oil and Gas Opportunity Fair(NOGOF) holding May 25 to 26 May, with the theme ‘‘Leveraging Opportunities and Synergies for Post Pandemic Recovery of the Nigerian Oil and Gas Industry…
 
More details through:
https://www.sunnewsonline.com/ncdmb-to-invest-in-1-45bn-ajaokuta-steel-revitalisation-project/
​

The Minister for Industry, Trade and Investment, Otunba Niyi Adebayo has said the manufacturing sector contributed over $40 billion to the Gross Domestic Product (GDP) in the last 20 years.
 
Adebayo stated this during the 50 years anniversary of the Manufacturers Association of Nigeria (MAN) in Abuja at the weekend. He described the manufacturing sector as the engine room of Nigeria’s GDP as well as the backbone of Nigeria’s employment sector, as it currently employs about seven million Nigerians…
 
More details through:
https://dailytrust.com/manufacturing-added-40bn-to-gdp-in-20yrs-minister

BUA, one of Africa’s largest conglomerates, has signed a contract to build a 285,000tonnes per annum polypropylene plant as part of its proposed grassroots BUA Refinery with Lummus Technology – a world leader in the construction of polypropylene projects, using Novolen technology. According to both parties, the scope includes the technology license for a 285,000tonnes per annum polypropylene unit as well as basic design engineering, training and services, and catalyst supply.
 
Speaking on the signing, Abdul Samad Rabiu, Founder/Executive Chairman of BUA said, “We are pleased to sign this polypropylene contract for our BUA Refinery and Petrochemicals project with Lummus Technology, a world leader in delivering polypropylene solutions, which will solve the increasing demand for high-performance grade p olypropylene in Nigeria, the Gulf of Guinea as well as the Sub-Saharan Africa Region. We are confident in the capacity and technical expertise of Lummus Technology to deliver a best-in-class, 285KTA polypropylene unit for our refinery project scheduled to come on stream in 2024…
 
More details through:
https://www.sunnewsonline.com/bua-lummus-technology-sign-contract-for-285000tpa-polypropylene-unit-at-refinery/