The importation of base oil and additives,which are the raw materials for lubricant production, constitutes a major depletion of Nigeria’s foreign exchange to the tune of about $750 million yearly.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nigeria economy’s outlook positive, minister tells investors – Daily TrustThe Minister of Information and Culture, Alhaji Lai Mohammed, said the Buhari administration has laid the necessary groundwork for the growth of the nation’s economy, and urged investors to take advantage of the government’s efforts by investing massively in Nigeria. The minister made the call in London yesterday at a breakfast meeting with investors, lawyers, … Clown Liar Mohammed will just be lying like the old fool he is...
Source: Daily Trust - 🏆 13. / 51 Read more »
Aminu Kano: Beyond material legacies – Daily TrustToday marks thirty six consecutive years of Nigeria’s sojourn without the indefatigable leader of the downtrodden, Malam Aminu Kano. Malam or Mallam as was used to be called all by his admirers, was unarguably the most radical politician particularly in the first and second Republics northern Nigeria.ADVERTISEMENT Today, virtually all politicians from the North somehow …
Source: Daily Trust - 🏆 13. / 51 Read more »
Sokoto building materials dealers laud WACL over showroom – Daily TrustBuilding materials dealers in Sokoto State have commended West African Ceramics Limited (WACL), manufacturer of the ROYAL brand of tiles, grouts and tile adhesives for the establishment of the Royal Exclusive Showroom in Sokoto. The dealers gave the commendation during the inauguration of the ROYAL Exclusive Showroom, a first of its kind, situated on the …
Source: Daily Trust - 🏆 13. / 51 Read more »
Samsung’s foldable smartphone pre-production review fiasco – Daily TrustForget about my excoriation of the business or use case for foldable phones, as detailed in this column on 12 November 2018. These phones, which you can fold, not just slightly, but all the way by 180 degrees, are for real, and have actually been manufactured – for example by a little known company with …
Source: Daily Trust - 🏆 13. / 51 Read more »
‘Smuggling of palm oil killing local production’ – Daily TrustThe smuggling of palm oil into Nigeria is killing local production, the National Palm Produce Association of Nigeria (NPPAN) has said. NPPAN raised the alarm over what it referred to as “downward slide in price of Crude Palm Oil (CPO) and local demand” despite its huge investments.ADVERTISEMENT The association raised the alarm in a letter …
Source: Daily Trust - 🏆 13. / 51 Read more »
OPEC upbeat Dangote Refinery will aid world oil production stability – Daily TrustThe Organization of Petroleum Exporting Countries (OPEC) is upbeat at the prospect of Dangote Oil Refinery serving to drive world crude oil refining capacity increase, especially in Africa by 2020. The organization, in the current edition of its World Oil Outlook (WOO), said Dangote Refinery, which is the first privately owned and operated refinery in …
Source: Daily Trust - 🏆 13. / 51 Read more »
Benue/Taraba conflict: Senate directs NEMA to deliver relief materials to victims - Daily Post NigeriaThe Senate, Wednesday directed the National Emergency Management Agency, NEMA, to supply relief materials to the victims of the Taraba and Benue border con
Source: DailyPostNGR - 🏆 11. / 59 Read more »
INEC frustrating inspection of election material - Akpabio's legal team - Daily Post NigeriaThe legal team of Senator Godswill Akpabio on Wednesday accused the Independent National Electoral Commission Akwa Ibom State of frustrating the ongoing in Incredible INEC should come clean and redeem itself, Nigerians need to move ahead, avail every party the results so that every legal tussle would be dispensed with speedily without taxpayers money being wasted . This is irrespective of the parties involved they must be transparen
Source: DailyPostNGR - 🏆 11. / 59 Read more »
Access Bank spends N1bn in health sector SMEs financing – Daily TrustAccess Bank Plc has said so far it has spent over N1bn in financing of small and medium scale enterprises (SMEs) in the health sector even...
Source: Daily Trust - 🏆 13. / 51 Read more »
FG imports N16b cowpea from Cameroon, Burkina Faso yearly | The Guardian Nigeria News - Nigeria and World NewsThe permanent secretary, Federal Ministry of Science and Technology, Bitrus Bako, discloses that Nigeria who is said to be the number one producer of cowpea globally, spends over N16 billion to import the commodity from Cameroon and Burkina Faso annually. Hope this isn't 'submit your report' fever? Who has been deceiving who since? It's well with Nigeria. Someone somewhere has been on the fraudulent business. Why importing what we can plant and harvest here? Even wild beans like jackbean grows to harvest on a low fertile soil within 3 months. Expose the merchants to the world. I thought it was only pizza 🍕 we import. This country is something else, some disturbing/disgusting information should not make headline. It’s a disgrace to us been the dwarf of Africa 😡😡😡😡
Source: GuardianNigeria - 🏆 1. / 94 Read more »
5 ways to spend Easter this weekend – Daily TrustEaster is here again and it is going to be a long holiday. In Nigeria, this period is fun with lots of activities and events lined...
Source: Daily Trust - 🏆 13. / 51 Read more »