Tag: foreign exchange (FOREX)

50 Companies Fold Up In Nigeria As Investment Crashes by 56%

ADEOLA YUSUF

50 firms close in 7 years of bad government policies Investment in manufacturing has reduced 56 per cent in seven years, and 50 such firms have shut down since 2017, a real sector buffeted on all sides by a plethora of bad government policies coupled with economic headwinds. Manufacturing firms that have closed shop in the past five years include Surest Foam Limited, Mufex, Framan Industries, MZM Continental, Nipol Industries, Moak Industries, and Stone Industries. Investment by those still standing has dived south, from N489.44 billion in 2016 to N217.22…

Read More

Lagos To Meet NAHCON as Hajj Fare Skyrockets by 100%

Abibat Babalola

Intending pilgrim from Nigeria to pay as high as N3 million per person Lagos state Government has promised to meet with the intending pilgrims for this year’s Hajj to deliberate on the hike in Hajj fare by the National Hajj Commission of Nigeria (NAHCON). Platforms Africa reports that intending pilgrims from Nigeria arè to pay over 100 per hike from last fare with some private travel agents billing as high as N3 million per person. READ ALSO: Hajj: Saudi Lifts Embargo On Nigeria, 16 Others, Ends COVID-19 Protocols 60,000 Muslims…

Read More