Search Results for: Nigeria

BY LEE ADENDORFF

IF there was a year when long-term textile and clothing market forecasters missed by a mile, 2008 was it. Forecasts made in 2007 were dominated by looming concerns about trade restrictions, investment in technology, a potential slow-down of production and a consolidation of business investment but no one predicted what devastating effects an unexpected recession would have on the textiles and apparel sector.…

By Thompson Ayodele, in Lagos

As the Group of 20 top industrialised and developing economies prepared to meet in London, UN Secretary General Ban Ki-Moon warned them that "the economic crisis may soon be compounded by an equally severe crisis of global instability." A key problem is that trade is deteriorating every day and political pressures demand import restrictions to protect employment. This is no way out: such protectionism would make this particular depression ‘Great’. 

Everyone says trade is the best way out – but on their own terms: last November, the G20 leaders signed a pledge against protectionism yet, in the second half of 2008, 17 out of the G20 passed 47 restrictions of trade, the World Bank claims. …

BY KEITH NUTHALL

THE NIGERIAN government has assured the International Maritime Organisation (IMO) that it is acting seriously against pirates who have been targeting oil tankers and industry supply vessels in and offshore the country’s oil-rich delta. Nigeria transport minister Ibrahim Bio assured IMO in London a new Niger Delta ministry had "full powers to address…the problem of militancy and piracy."…

BY MONICA DOBIE

SOUTH Africa’s Wise Design International Ltd has announced plans to cultivate 40,000 hectares of sugarcane in the northern Nigeria state of Gombe to feed a proposed nearby state-of-the art sugar factory

ENDS…

BY MARK GODFREY

THE BUREAUCRATS and engineers who run China’s booming hydropower sector will be in listening mode in April when the world descends on Beijing for the second International Conference on Hydropower Technology & Equipment. The theme of this year’s government-sponsored gathering – ‘Sustainable China Hydropower Industry’ – reflects worries about the environmental impact of recent massive hydropower projects in China.…

BY GEORGE STONE

SOUTHERN Africa has always been rich in natural resources, but its ability to process and manufacture them has not always matched this bounty. Oil refining capacity is a case in point and the governments of South Africa, Angola and Mozambique are trying to push forward.…

BY MARK ROWE

INDONESIA’S paint industry appears likely to weather the worst of the global economic downturn. Indeed, Indonesia may be one of the few major countries where sales of paint for industrial and domestic use will rise. In January 2009, Indonesian President Susilo Bambang Yudhoyono forecast economic growth of 6.2% for the year in a budget that revealed capital spending plans that were 14.3% up on 2008.…

BY GEORGE STONE

WHAT a difference a year has made in the African oil industry. With sky rocketing oil prices fuelling an expansion boom in 2007 and 2008, this year will be much tougher for the oil and gas sector in sub-Saharan Africa.…

BY JAMES FLYNN

RUSSIAN organised crime has left its fingerprints across eastern and western Europe in recent years. But now the gangs have begun to turn their sights on the international shipping industry, manipulating documents that are fundamental to the movement of international cargo for their own – usually money laundering – ends.…

BY KEITH NUTHALL

A MEMORANDUM of understanding has been signed by Russia’s Gazprom and the Nigerian National Petroleum Corporation over joint gas and oil exploration and transportation projects in Nigeria. A joint venture company would carry out the work, focusing mainly on gas.…