Tomeeesin Blog

Minister of Budget and National Planning, Udoma Udo Udoma, says that infrastructure remains a critical element in the growth of any economy. The Minister said this yesterday, during his meeting with a delegation of the management of The Infrastructure Bank (TIB), led by its Chief Executive Officer, Mr. Adekunle Oyinloye, in Abuja. The Minister, said the decision by the present administration to allocate more resources for infrastructure in the 2016 budget is reasonable, since the infrastructure is the bedrock upon whih the economy can grow and also create an enabling environment for private sector to grow. “Infrastructure is very necessary to grow the economy of a nation. There is need to fix infrastructure in order to create an environment for private sector to grow,” he added. He explained further that more than 60% of the investment needed for the infrastructure development in the country is to be realized from the private sector, adding that government will prepar...

In keeping to its mandate of dealing with overpricing and unhealthy competition in the telecoms market, the Nigerian Communications Commission, has unveiled a new draft policy regulation on determination of cost based pricing of fixed transmission services for operators in Nigeria. The new draft was a result of a consultancy study by a multinational consultancy service company, KPMG. The objective of the study according to NCC was to develop a comprehensive cost using data collated from operators in the transmission cable market and to draw inferences on the cost of providing transmission services in Nigeria. Also, the study was aimed at ascertaining the degree of transparency and competitiveness of pricing in the transmission market by the telecom operators. The study is expected to set the pace for effective competition in the wholesale leased lines and transmission capacity market in the telecommunications industry. Addressing st...

Manufacturing companies in the country and their counterparts from across the world will be converging in Lagos from 15-17 this month. They are expected to benefit from shared expertise and best practice from sectors including; business management, finance, pharmaceutical, packaging, automotive, agro and food and beverage processing. In a statement, the organisers disclosed that GEA West Africa, Clearpack Singapore, Kautex Maschinenbau GmbH, Festo Automation, Miele Packaging, Gil Automation, the Bühler Group and Thomson & Grace are among the big names that will showcase their manufacturing equipment at the event. Moreso, the third annual Manufacturing Partnerships for African Development, mPAD will take place alongside the expo. It is an invitation only set of round table discussions chaired by the President of the Manufacturers Association of Nigeria (MAN) and the DG of the Federal Ministry of Industry, Trade & Investment of Nigeria. Also, it is ...