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Farooq

Posts Tagged "manufacturers"

HomePosts Tagged "manufacturers"
  • CBN

With the Central Bank of Nigeria (CBN) sustaining its foreign exchange intervention in the real sector for importation of key raw materials, the manufacturing sector’s raw materials inventory index grew for the third consecutive month to close at 52.3 points. This is just as the Manufacturing Purchasing Managers’ Index (PMI) increased to 52.9 index points […]

  • dollar to naira

LAGOS May 10 (Reuters) – Nigeria’s central bank plans to auction an undisclosed amount of dollars on Wednesday through book building to settle a backlog of demand for airlines, fuel and raw material imports, traders said. Traders said the central bank had asked lenders to bid for hard currency for specific sectors in efforts to […]

Obinna Chima The Manufacturing Purchasing Managers’ Index (PMI) stood at 52 index points in December 2016, indicating expansion in the manufacturing sector during the review period. The index had recorded decline in the preceding 11 months. The report showed that production level, new orders, and raw material inventories expanded from contraction; employment level declined slower; […]

The N5billion ultra-modern automobile manufacturing/assembling vehicles’ plant in Enugu, when fully operational, would create thousands of jobs , especially for the youths in the country, Managing Director, Keystone Bank Limited, Mr. Philip Ikeazor has said. He disclosed this during the unveiling of the stone laying ceremony of the Eastern Vehicles Assembling Limited (EVAL) plant in […]

  • CBN

Despite complaints by members of the Organised Private Sector (OPS) on access to foreign exchange to import raw materials, latest figures from the Central Bank of Nigeria (CBN) show that not less than 1,342 manufacturers and allied firms received $660.17 million from the apex bank through Deposit Money Banks (DMBs) for importation of raw materials, […]

  • CBN

Manufacturing industries in Nigeria have been given access to foreign exchange valued at over $660m in the inter-bank market to source raw materials and spare parts for their industries courtesy of the interbank forex market. The Central Bank of Nigeria’s acting Director, Corporate Communications, Mr. Isaac Okorafor, in a statement on Monday said that the […]