Nigeria Spends N1.5trn On Raw Materials Imports In Six Months   Nigeria imported raw materials worth N1.51 trillion in the first six months of 2021 (H1 2021). A breakdown in the Foreign Trade Statistics of the National Bureau of Statistics (NBS) revealed that importation of raw materials...

High Tariff On Raw Materials Limits Steel Sector   The disparity in tariff between raw materials and finished steel products has brought the local steel manufacturing sector to its knees. Currently, business is very challenging for local manufacturers in the steel value chain as they are unable...

BIP Implementation Pushes Raw Materials Utilisation To 65.7%   Implementation of resource-based industrialization and backward integration policy (BIP) as contained in Nigeria’s Industrial Revolution Plan (NIRP) as well as proactive measures to avert foreign exchange exposure risks has pushed local sourcing of raw materials to 65.7...