Stallion to produce 1.5m tons of rice

Stallion Group, one of the companies with investment in the Nigerian rice industry said it had intensified efforts in expanding its operations in the country’s fully integrated rice value chain.

 

The company in a press statement stated that it was leveraging on the policy impetus provided by the federal government’s agricultural transformation agenda, and had already increased the local production to 430,000 metric tonnes per annum.

OPS lays down economic demands on president elect, Buhari

• Plug economic loopholes
• Ensure acceleration of reforms on oil and gas
• Boost investment in critical infrastructure
• Tackle high cost of doing business

Amaecom inaugurates $1m foam factory in Uyo

The quest for industrialisation in Akwa Ibom State has received a major boost with the inauguration of a $1 million foam manufacturing factory in Uyo, the state capital, by Amaecom Global Limited, which is expected to produce 200 cubic metres high quality product daily.

Observers say it is a bold attempt by the company to diversify into manufacturing of pillows and mattresses aside from asset financing services.

Dangote, Lafarge to gain as Africa now cement’s fastest growth market

Nigerian cement manufacturers, including Dangote and Lafarge, are poised to benefit as Africa has overtaken China and India to emerge as the world’s fastest growing cement market.

Cement consumption in China, the world’s largest cement market, has decelerated markedly over the past two years and is poised to decline further in 2015, according to Africa focused frontier market research firm, DaMina advisors.

“Nigeria’s Dangote Cement is poised to almost double its total production capacity in 2015 to feed this growing demand,” said Christopher W. Hartland-Peel, senior director, DaMina Frontier Africa Equity Research.