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Flour Mills of Nigeria Supports National Sugar Self-Sufficiency Efforts

Flour Mills of Nigeria Supports National Sugar Self-Sufficiency Efforts

Flour Mills of Nigeria Supports National Sugar Self-Sufficiency Efforts
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Central Bank of Nigeria's Recapitalisation Raises N4.65 Trillion to Strengthen Financial Sector

Central Bank of Nigeria's Recapitalisation Raises N4.65 Trillion to Strengthen Financial Sector

The Central Bank of Nigeria (CBN) has successfully concluded a two-year recapitalisation exercise, raising N4.65 trillion to bolster the capital base of Nigerian banks. This initiative, which ended on March 31, aims to enhance the resilience and stability of the financial sector, aligning with Basel III standards. The recapitalisation is expected to enable banks to finance long-term, high-value projects in infrastructure, energy, manufacturing, and technology. The CBN plans to redesign the banking sector's credit risk framework to safeguard the newly raised capital and improve asset quality. This effort reflects a broader strategy to align monetary policy with the Federal Government's fiscal growth agenda and inflation-control objectives.
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Winland Foods Invests $38.5 Million in St. Louis Pasta Facility Expansion

Winland Foods Invests $38.5 Million in St. Louis Pasta Facility Expansion

Winland Foods Invests $38.5 Million in St. Louis Pasta Facility Expansion
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Winland Foods Expands St. Louis Pasta Plant with $38.5 Million Investment

Winland Foods Expands St. Louis Pasta Plant with $38.5 Million Investment

Winland Foods Expands St. Louis Pasta Plant with $38.5 Million Investment
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Wisconsin Stamping Manufacturing Plans New Facility in Hartford, WI

Wisconsin Stamping Manufacturing Plans New Facility in Hartford, WI

Wisconsin Stamping Manufacturing Plans New Facility in Hartford, WI
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Nepal's Middle East Diaspora Returns to Invest in Agriculture Following Policy Changes

Nepal's Middle East Diaspora Returns to Invest in Agriculture Following Policy Changes

Members of Nepal's diaspora in the Middle East are returning home to invest in agriculture and dairy farming, spurred by recent government policy changes. Ram Mani Neupane, a former migrant worker, has successfully transitioned to dairy farming, earning a stable income while staying with his family. The local government in Manahari Rural Municipality has implemented a policy ensuring monthly payments to farmers for their milk, collected at local centers. This policy has encouraged many former migrant workers to invest in agriculture, leading to increased local milk production and economic stability.
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Aksia's Fornaio del Casale Expands with Trio of Acquisitions in the Food Industry

Aksia's Fornaio del Casale Expands with Trio of Acquisitions in the Food Industry

Aksia's Fornaio del Casale Expands with Trio of Acquisitions in the Food Industry
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CPPE Criticizes World Bank's Import Recommendations, Advocates for Industrial Focus

CPPE Criticizes World Bank's Import Recommendations, Advocates for Industrial Focus

The Centre for the Promotion of Private Enterprise (CPPE) has criticized the World Bank's recommendation for increased importation of petroleum products and food in Nigeria. Dr. Muda Yusuf, CPPE founder, argues that this advice contradicts Nigeria's reform path and threatens long-term development goals. He emphasizes that industrialization is crucial for Nigeria's economic transformation and warns that import-driven solutions could lead to de-industrialization, limit job creation, and expose the economy to external shocks. Yusuf advocates for a coherent industrial strategy to expand domestic production capacity and strengthen manufacturing competitiveness.
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Nawalparasi Agriculture Office Allocates Rs 450 Million in Farmer Grants

Nawalparasi Agriculture Office Allocates Rs 450 Million in Farmer Grants

The Agriculture Development Office in Nawalparasi East District has distributed nearly Rs 450 million in grants to farmers over the past five fiscal years. These grants have supported 951 farmers through various agricultural programs, including commercial vegetable farming, fruit orchard management, and small irrigation projects. The office has prioritized highway-corridor focused crop production and emergency agricultural services in the current fiscal year, with a budget allocation of Rs 51.7 million. Most of the approved programs have already been launched, with others in the implementation process.
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Federal Government Supports 87 Pharmaceutical Manufacturers with Incentives to Boost Local Production

Federal Government Supports 87 Pharmaceutical Manufacturers with Incentives to Boost Local Production

The Federal Government of Nigeria has reaffirmed its commitment to enhancing the pharmaceutical sector through deliberate policies and strengthened regulatory systems. Minister of State for Health, Dr. Adekunle Salako, emphasized the sector's importance to Nigeria's economic and healthcare agenda during the commissioning of a new manufacturing facility by SAM Pharmaceuticals Limited in Ogun State. The government has implemented reforms, including executive orders to support local production, resulting in 87 local manufacturers benefiting from incentives such as zero tariffs on machinery and raw materials. Efforts are underway to strengthen research capacity, including the establishment of an API Capacity Building and Production Centre. The Director General of NAFDAC, Prof. Mojisola Adeyeye, highlighted the impact of regulatory reforms, noting that these measures have enabled local manufacturers to expand operations and utilize installed capacity.
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Morocco Secures $500 Million World Bank Loan to Boost Jobs and Green Investment

Morocco Secures $500 Million World Bank Loan to Boost Jobs and Green Investment

Morocco has secured a $500 million loan from the World Bank to address unemployment and stimulate private investment. The program focuses on creating jobs for youth, increasing women's participation in the workforce, and supporting small and medium-sized enterprises (SMEs). Additionally, it aims to unlock renewable energy investments and expand pharmaceutical exports. This initiative is part of a broader strategy to align Morocco's economic growth with job creation and climate goals, addressing structural gaps that have hindered broad-based prosperity.
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Fornaio del Casale Expands with Three New Acquisitions to Form Equipe Del Casale Group

Fornaio del Casale Expands with Three New Acquisitions to Form Equipe Del Casale Group

Fornaio del Casale Expands with Three New Acquisitions to Form Equipe Del Casale Group