Monday, May 17Inside Business Africa
Shadow

Tag: Adeniyi Adebayo

FG suspends issuance of license to free trade zone operators

FG suspends issuance of license to free trade zone operators

Economy
The Federal government has suspended the issuance of licenses to operators at the free trade zones (FTZ) in the country. Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo, announced the suspension on Monday in Abuja. It was conveyed via a statement signed by the Minister’s Special Assistant on Media, Ifedayo Sayo. Adebayo, who stated this during the inauguration of the panel set up for the evaluation of the performance of FTZs, said all applications for FTZ licenses will no longer be processed pending the completion of the panel’s assignment. He noted that the key objective of the panel is aimed to provide concrete recommendations and reshape the government’s strategies to reposition the FTZs based on a thorough evaluation of current operations. The panel, whi...
FG strategises, unveils stimulus package for real sector operators

FG strategises, unveils stimulus package for real sector operators

Economy
The Federal Government has assured a coalition of private-sector operators of a N65 billion-stimulus package that would assist them as they face the long-term effect of the COVID-19 pandemic. The Ministry of Industry, Trade and Investment, which has been charged with this task, noted that some of these interventions include a N50 billion survival funds for Micro Small and Medium Enterprises (MSMEs) and a N15 billion guaranteed uptake scheme to save 500,000 jobs, 40 per cent of which will be reserved for women-owned businesses. The Minister of Industry, Trade, and Investment, Adeniyi Adebayo, told the Organised Private Sector (OPSN) at a virtual meeting recently that government was ready to assist them because of the role they play in the economy. Meanwhile, the Bank of Industry (B...
FG charges local auto manufacturers on production of ventilators, others

FG charges local auto manufacturers on production of ventilators, others

Economy
The Federal Government has urged local auto manufacturers to modify their operations to produce more ventilators for the health system. The government further said that the local production of ventilators had become imperative because it is one of the critical equipment for the treatment of COVID-19 pandemic. The Minister of Industry, Trade and Investment, Adeniyi Adebayo, made this known yesterday, while briefing journalists on latest government efforts to curtail the negative impact of coronavirus pandemic on the manufacturing, trade and other related sectors of the economy. According to him, the ministry is mobilising the National Agency for Food and Drug Administration Control (NAFDAC) as well as the Standards Organisation of Nigeria (SON), to speed up certification procedure...