Nigeria initiates new measures to boost mining sector revenue  

October 9, 2019

By Tola Akinmutimi   The Nigerian government on Tuesday said  it has initiated some policy measures  to ensure that revenue leakages from the nation’s mining sector were plugged and also make the industry more investment-friendly. Olamilekan Adegbite, the country’s minister of mines and steel development, made this known during a roundtable session at the ongoing […]

Stakeholders want government to revamp steel plants to check importation

May 31, 2019

Stakeholders in the Nigerian metallurgical industry have called for the development of finance strategies to encourage the growth of small and medium enterprises (SMEs) in the steel sector. They observed that if the sector was to contribute more to the gross domestic product (GDP), there was the need to revamp steel plants that could produce […]

26 industries sign up to bypass DisCos for direct power supply from GenCos

Bukola OdufadeAugust 15, 2018

GenCos

Twenty-six industrial electricity customers have signed up to be supplied power directly from power generation companies (GenCos) instead of from the distribution companies (DisCos) under the eligible consumers’ scheme approved by the federal government in 2017, Babatunde Fashola, minister of power, works and housing, has said in Minna, Niger State. The eligible customers regime seeks […]

Samsung to go 100% clean by 2020 as it changes energy sources to renewables

Bukola OdufadeJune 14, 2018

Samsung

Samsung Electronics said on Thursday that its energy sources would be 100 percent clean by 2020 as it plans on fulfilling its energy needs from renewable sources. According to a statement released by the tech giant, its factories, office buildings and operational facilities in Europe, China and U.S. would be powered by renewable energy come […]

World’s biggest miner speeds hunt for copper in ‘last frontier’

Businessam StaffJuly 25, 2017

BHP Billiton Ltd

BHP Billiton Ltd., the world’s biggest miner, has opened an office and is seeking to add staff in Ecuador as it advances a search for copper in a nation that’s becoming the sector’s exploration hot-spot. Melbourne-based BHP’s local unit, Cerro Quebrado, will spend about $82 million on exploration, having established a base in the capital, […]

High energy prices hit manufacturing companies   

Businessam StaffJune 19, 2017

High energy prices are threatening the survival of manufacturers, raising their production costs and cutting down margins. This is amid reported price decline of diesel. “Gas prices are very high in Nigeria. Gas is still priced at $8 per standard cubic foot (scf), $5 higher than the global price. With the current exchange rate, you […]