CIT Revenue Reaches N2.78 Trillion in Q2 2025
Federal government records N2.78 trillion company income tax in Q2 2025, a 40.27% quarterly increase. Financial services sector drives growth while manufacturing faces challenges.
Category : Search result: local auto manufacturing
MAN: 37% Lending Rate Hinders Manufacturing
MAN laments 37% lending rate, says high borrowing costs hinder production and reduce competitiveness. DG Segun Ajayi-Kadir urges CBN for rate reduction.
CIT Revenue Reaches N2.78 Trillion in Q2 2025
Federal government records N2.78 trillion company income tax in Q2 2025, a 40.27% quarterly increase. Financial services sector dominates while manufacturing faces challenges.
VAT hits N2.06 trillion in Q2 2025, 7th consecutive rise
Nigeria's VAT collections surge to N2.06 trillion in Q2 2025, recording seventh consecutive quarterly growth since economic reforms. Manufacturing leads sectoral contributions with 27.19% share.
West Africa Industrial Summit Set for March 2026 in Lagos
The WA-IMT Summit in Lagos from March 3-5, 2026 will drive regional integration and sustainable industrial growth across West Africa. Join industry leaders!
Two injured in Ogun multiple auto crash
Two persons sustained injuries in a multiple vehicle collision on Abeokuta-Lagos Expressway. TRACE confirms 17 passengers involved, no fatalities reported. Read full details.
German Business Confidence Falls in November 2025
German business sentiment declines to 88.1 points as companies lose faith in government reforms. Manufacturing and construction sectors hit hardest amid economic concerns.
Delta State Seeks ₦1bn BOI Loan for Industrial Growth
Delta State Government plans to secure ₦1 billion loan from Bank of Industry to accelerate industrialisation and technology-driven manufacturing. Learn how this initiative will transform the state's economy.
One Dead, Five Injured in Ogun Road Accidents
A fatal multiple auto crash on Sagamu/Ikorodu Expressway claims one life, while another incident on Sango-Ijoko Road leaves two injured. TRACE confirms details and causes.
Manufacturers Spend N676.6bn on Power Generators
Nigerian manufacturers spent N676.6 billion on alternative energy in H1 2025 as poor power supply cripples operations. MAN warns of job losses and demands government intervention.
Two killed in Ogun auto crashes, including ritual hit
Tragedy strikes Ogun State as two separate auto accidents claim lives. A woman killed by suspected internet fraudster in Abeokuta, while truck-motorcycle collision proves fatal on Lagos/Abeokuta Expressway.
MAN: High Energy Costs, Taxes Hurt Niger Delta Factories
MAN highlights crippling energy costs and multiple taxes hindering Niger Delta manufacturing. The association urges a blue economy focus for sustainable industrial growth. Read more.
15 Injured in Ogun Multiple Auto Crash
Multiple vehicle collision at Omoyele Junction leaves 15 injured. TRACE confirms brake failure caused the accident. Police arrest suspected cultist in separate incident.
Samsung Plans $310 Billion AI Investment Over 5 Years
Samsung announces massive $310 billion investment to power AI expansion, including new semiconductor plants and data centers. Discover how this impacts global tech landscape.
Nigeria Baking Crisis: 80,000 Bakeries Shut Down
Nigeria's baking industry faces collapse as over 80,000 bakeries closed since 2020 due to high production costs, energy crisis, and insecurity. Learn how this affects jobs and bread prices.
Alstom's Profits Surge on Global Rail Demand
French rail giant Alstom posts a net income of €220 million in H1 2025-2026, driven by strong global demand for trains and infrastructure. Revenue growth forecast upgraded.
Steel & Defence Ministries Sign Military Hardware MOU
Nigeria's Ministry of Steel Development and Ministry of Defence sign landmark agreement for military hardware production at Ajaokuta Steel Company, boosting national security and local manufacturing.
Northern Industries Back 15% Power Tariff Hike
Major northern industrial associations endorse new electricity tariff, citing long-term economic benefits despite initial cost concerns for manufacturers and households.
Beta Glass Invests ₦85M in Nigerian Communities
Leading glass and packaging manufacturer Beta Glass PLC has made significant investments in community development while generating massive economic value for Nigeria's economy through job creation and local content.
GTA VI Delayed Until 2026: New Release Date
Breaking news: Grand Theft Auto VI launch postponed to 2026. Get the latest updates on the new release date, development challenges, and what this means for Nigerian gamers.
IVM Boss: Banking Bottlenecks Hurt Nigerian Manufacturers
IVM's Managing Director Mitchell Elegbe advocates for strengthened local content policy while highlighting banking sector challenges crippling Nigerian manufacturers' competitiveness.
Imo State Revives Aluminium Company with ₦500M
Imo State Government injects ₦500 million to resuscitate the moribund Inyishi Aluminium Company, creating jobs and boosting local manufacturing in Southeast Nigeria.
Nigeria gets €6.3M EU-UNICEF health production deal
Federal Government partners with European Union and UNICEF in groundbreaking €6.3 million initiative to boost local manufacturing of essential health commodities and reduce import dependency.
Nigeria signs €6.3M health production deal with EU-UNICEF
Federal Government signs landmark agreement to strengthen local manufacturing of essential health commodities, reducing import dependency and creating jobs.
Northern Industrialists Support 15% Electricity Tariff Hike
Major northern industrial groups endorse controversial electricity tariff increase, arguing it will stabilize Nigeria's power sector and attract critical investment despite consumer concerns.
Local Content Key to Africa's Energy Future
Nigerian Content Development and Monitoring Board reveals how prioritizing local content is transforming Africa's energy sector and creating sustainable growth opportunities.
German Steel Industry Faces Major Crisis and Job Cuts
Germany's once-powerful steel industry confronts an uncertain future as high energy costs and global competition threaten thousands of jobs and factory operations across the nation.
Nigeria to Privatize Refineries in Historic Agreement
In a groundbreaking move to revitalize Nigeria's oil sector, the Federal Government and manufacturers have agreed to privatize the Port Harcourt refinery and other national refineries, promising to end fuel import dependency.
Lagos Council Chairman Resigns, Lawmakers Pressure Governor
Political crisis rocks Lagos as Isolo LCDA chairman resigns unexpectedly while state lawmakers escalate pressure on Governor Sanwo-Olu over critical state matters.
Agege LG Chairman Resigns Over Health Issues
Agege Local Government Chairman Tunde Azeez steps down amid health challenges as Speaker Mudashiru Obasa's son assumes leadership role in dramatic political shift.
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