Nigeria initiates new measures to boost mining sector revenue
Tola Akinmutimi
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
Businessam StaffMay 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
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 […]
Nigeria’s BUA Group chairman, Abdul-Samad, says energy is big threat to cement plant in the northeast
Justice OkamgbaJuly 24, 2018
Access to energy remains one of the biggest threats to running a cement plant in the northern part of Nigeria, a situation which makes investors to shy away from the region, cement billionaire and founder and chairman of one of Nigeria’s major conglomerates, the BUA Group, Abdul Samad Rabiu has said. Rabiu disclosed this in […]
Samsung to go 100% clean by 2020 as it changes energy sources to renewables
Bukola OdufadeJune 14, 2018
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., 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 […]