Business New

The Manufacturers Association of Nigeria (MAN) has voiced its worries regarding the significant drop in bank loans directed towards the manufacturing industry, cautioning that this situation could hinder industrial progress, increase joblessness, and threaten the success of the Nigeria Industrial Policy (NIP) 2025.

The Cocoa and Coffee Farmers Alliance Association of Africa, known as COCEFAAA, has advocated for the establishment of a consolidated coalition of cocoa producers in Africa, as well as for a minimum base price not lower than $6,000 for each metric tonne, aiming to enhance coordination in production and to fortify farmers' negotiating power throughout the continent.

The Nigeria Labour Congress alongside the Trade Union Congress announced their intention to resume discussions with the Federal Government regarding a revised national minimum wage, expressing concerns that employees are struggling more with increasing living expenses as inflation undermines actual earnings.

In light of renewed demonstrations from contractors, the Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, noted that payments have been authorized for over 1,240 contractors.

He outlined that the organization had interacted with representatives from the Ministry of Finance and the Office of the Accountant General, where they learned that approximately N40 billion would be allocated to beneficiaries at the outset.

Temi Popoola, the Group Managing Director/CEO of the Nigerian Exchange Group (NGX Group), has called on the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) to prioritize the advancement of the capital market as a vital macroeconomic factor. He contended that the efficiency of monetary policy increasingly rests on the depth, liquidity, and integrity of Nigeria’s financial markets.