Search Result for : Nigeria

The Dollar Business Bureau  Considering the demand from importers to ease the ban on goods, Nigeria is considering lifting the ban on certain products from accessing foreign exchange. Speaking to the media Yemi Osinbajo, Vice President of Nigeria said the country may end a ban that prohibits the importers of some specific goods to access foreign currency on Nigeria’s interbank market. The Nigerian government will be considering “policy-driven restrictions” in order to promote the domestic manufacturing of around 41 items like toothpicks and rice, the Vice President said in a speech on Tuesday. The easing of import ban could be the latest in the restrictions on foreign-currency trading to be eased by the Central Bank of Nigeria after it lifted a currency ceiling in June ...

The Dollar Business Bureau  The Minister of State (I/C) for Petroleum & Natural Gas, Dharmendra Pradhan held a meeting with Nigerian Minister of State for Petroleum Dr. Emmanuel Ibe Kachikwu, who is on three-day official visit to India. The discussion, which took place in New Delhi. primarily focussed on the involvement of the two countries in the hydrocarbon sector. The meeting observed the extensive trading India does with Nigeria in the form of huge crude oil imports from the African country. It was noted that India imported nearly 23.7 MMT of crude (nearly 12% of India overall imports) and over 2 MMTPA of LNG from Nigeria in 2015-16. The Indian minister also thanked his Nigerian counterpart for the contracts given to Indian public sector ...

The Dollar Business Bureau The US and India have drastically reduced their crude oil imports from Nigeria by 53% and 43%. This has translated to a loss of N88bn for the African state as revealed in the latest report by the Nigerian National Petroleum Corporation. Nigeria had replaced Saudi Arabia in the race to supply crude oil to India last year. This was a major setback to the Middle East kingdom, which lost its top spot to the African country. India which became the single largest buyer of Nigerian crude in 2013, reduced its imports in May as it bought 7.74 million barrels, showing a reduction from 13.51 million barrels bought in April, 12.51 million barrels in March and 12.70 million barrels in Feb. Reports suggest ...

The Dollar Business Bureau Besides venturing into new markets and introducing a children’s wear segment, hosiery maker Dollar Industries is aiming for Rs.1,000 crore revenue in FY17. The Kolkata-based company’s Joint Managing Director Binay Kumar Gupta, stated that the company is eyeing for whopping turnover of Rs.1,000 crore and is even planning to expand its presence in India with special focus towards south Indian customers. In FY16, the company registered a total revenue of Rs.829.94 crore. Indicating strong growth of the company, the total revenue generated by the company in FY15 was Rs.730 crore. Gupta revealed that Dollar Industries has 15% share in the Rs.10,000 crore in the Indian organised knitwear industry. In the coming two years, Dollar is planning to introduce children’s wear. Apart from ...

Sairaj Iyer | The Dollar Business Bureau   Hudu Mogtari the CEO of Ghana FDA gave a compelling and visionary presentation during the second day proceedings of Iphex at Bombay Exhibition Center, Goregaon. Mogtari arrived at the session with a contingent of policy-makers and industrialists from Ghana. There were senior officials from the Ghana health ministry, a member of the Parliament, and the executive secretary of the pharmaceutical association of Ghana, that jubilantly backed Hudu Mogtari while he delivered his presentation. Mogtari revealed that Ghana produced a mere 30% of domestic-healthcare needs, forcing them to depend on imports. In that respect Indian drugs are not only cost-effective but also of great quality. During his session he announced that to facilitate easier imports from ...

Around 20 % of the sales of Hero MotoCorp accounts to exports. The company is a major two wheeler manufacturer in India. However, itbeganexporting two years agoand is planning to prioritize Latin America, Africa and theCentral American regions The Dollar Business Bureau After splitting from Honda, Hero is planning to reach out to Latin America, Africa and Central America   Hero MotoCorp will start selling its two wheeler in Nigeria from March, said the Chairman and the Managing Director of the company, Pawan Munjal. He was presenting the company's Rs.850 crore coherent Research and Development facility at Kukas, located 25 kms from Jaipur. Around 20% of the sales of Hero MotoCorp accounts to exports. The company is a major two wheeler manufacturer in India. ...