Business Eye

Friday, 02 December 2011 | Yomi Ojo

From little personal consumables such as ear-phones to minor household items like the electric stoves, down to heavy industrial machineries, China has come to mean more than just a name in the Nigerian market.

Not many Nigerians will claim ignorance of the several qualities of imported consumable products in the local markets. However, one brand name that seemed to cause shivers among consumers is underlined by the phrase ‘Made in China’. This does not only represent the brand of goods which wer...

SON Shuts Out Deadline Extension on Substandard Goods

Monday, 22 August 2011 | Administrator

Joseph Odumodu, Director-General, Standards Organisation of Nigeria, SON, has warned manufacturers to adhere to the August 15, 2011, deadline given to them to stop producing substandard products or face prosecution. Odumodu said that the regulatory agency was magnanimous to have extended the initial June 30 deadline, based on the plea of some importers for more time and others who described their goods as not life-threatening.

Insisting that there is no more hiding place for manufacturers, import...

Slashing the Price Of Cement

Tuesday, 14 June 2011 | Frank Onuoha

The federal government issues orders for the price of cement to be cut as manufacturers lament cost of production.

On the 16th of May 2011, in a meeting with five leading cement producers, the federal government in response to the high cost of cement in the country, ordered that the price of the commodity be reduced within 30 days following the rising price of cement which grew from a modest rate of N1,800 per bag as at January this year to its current price of N2,300 at the open market in Lagos,...

Entering the Sugar Market

Wednesday, 01 June 2011 | Anu Obishakin

The Nigerian sugar market is growing in leaps and bounds even as the market for alternatives remain largely untapped

To insiders, the Nigerian commodity market, is characterized by two words: invisibility and vulnerability. Invisibility refers to the relative acceptance of the modus operandi, pricing and supply trends of the commodity market, by the general public, with little or no resistance. It is an asset that players appreciate. The public attitude is best captured in the statement: people h...