Business
Key Highlights of the NME & NIRAM Expo, 2023 Deal Flow

▪︎MAN President, Otunba Francis Meshioye visit an exhibition stand at MANEXPO recently (File photo).
” Whether you are an investor, seeking promising ventures, a manufacturer looking to expand your horizons, or an industry professional seeking valuable insights, the Nigeria Manufacturing and Equipment Expo (NME Expo) & the Nigeria Raw Materials Exposition (NIRAM Expo) promises to be a fertile ground for deal flow and collaborations.”
Segun Ajayi-Kadir, the Director-General of Manufacturers Association of Nigeria- MAN, said in a statement five days to the exhibition holding at the Convention Centre, Federal Palace Hotel, in Lagos, Nigeria, from 21st – 23rd November 2023.
He said that manufacturers, investors, industry leaders and stakeholders from across the continent will converge at this prestigious event to explore and harness the potential of the manufacturing sector.
This year’s edition with the theme ‘Future Manufacturing: Building a Sustainable Roadmap to the Industrialization of Nigeria” emphasis on “Deal Flow” as being the key to Manufacturing and industry growth” as the central focus, aiming to facilitate meaningful partnerships, investments, trade opportunities and collaborations that drive innovation and growth.
Key Highlights of the NME & NIRAM Expo, 2023 Deal Flow
Focus:
● Investor Meet-ups: The event will host exclusive sessions where investors can connect with promising manufacturing enterprises looking to expand, innovate, or secure funding;
● B2B Connect: A dedicated platform will enable participants to pre-schedule meetings with potential partners, ensuring valuable face-to-face interactions;
● Industry Insights: Renowned manufacturing experts and leaders of thought will share insights on emerging manufacturing trends, investment strategies and market opportunities;
● Exhibition Zone: The exhibition area will feature a curated selection of cutting-edge manufacturing technologies, solutions and investment-ready projects; and
● Networking Opportunities: Participants will engage in high-level networking with industry players, government officials and representatives from international trade missions.
The Expo shall be a catalyst to facilitate deal flow which creates a significant opportunity for manufacturing companies to learn, meet new potential clients, engage with one another to find out how to deal with manufacturing challenges and ultimately grow their manufacturing businesses.
In addition, the event further supports the development of Intra-Africa trade with many African countries being represented.
Bunmi Aliyu, Managing Director, Leoht Africa, added that the potential impact of the event would be felt for many more months after, as manufacturing companies further unpack the leads and contacts they would derive from the event, thus creating potential opportunities for engagements and business interactions.
Business
We didn’t shutdown Tummy Tummy noodles factory – NAFDAC
In a statement released on Wednesday, the Director-General of NAFDAC, Prof. Mojisola Adeyeye, clarified that the viral recording was not only misleading but also a recycled falsehood.

The National Agency for Food and Drug Administration and Control (NAFDAC) has issued a formal disclaimer concerning an audio recording circulating on social media.
The audio recording falsely claims the agency shut down the Tummy Tummy noodles manufacturing facility in Anambra State.
In a statement released on Wednesday, the Director-General of NAFDAC, Prof. Mojisola Adeyeye, clarified that the viral recording was not only misleading but also a recycled falsehood.
According to her, the same audio first appeared in Oct. 2023 and was thoroughly investigated at the time.
“The claims made in the recording are entirely false.
“The Tummy Tummy noodles facility in Anambra State was not sealed,” she stated.
Business
Illicit Financial Flows Draining National Resources – Adedeji
He emphasized the need to strengthen Nigeria’s domestic resource mobilisation to safeguard national wealth.

•Chairman of FIRS, Zacch Adedeji
On July 22, 2025, the Executive Chairman of FIRS, Zacch Adedeji, delivered the welcome address at the National Conference on Illicit Financial Flows in Abuja.
He emphasizied the need to strengthen Nigeria’s domestic resource mobilisation to safeguard national wealth.
He cited the recent tax reforms as a major step forward and highlighted the following as key points in his welcome address:
* Illicit Financial Flows through tax evasion, profit shifting and money laundering are draining national resources and threatening fiscal stability.
- The recent signing of four tax reform bills marks a critical step toward transparency, system overhaul, and stronger institutions.
- FIRS is responding with a multi-dimensional strategy: promoting voluntary compliance, embracing digital intelligence and enhancing enforcement under the Proceeds of Crime Act.
- * A need for unified, data-driven, and globally coordinated action to close fiscal gaps and protect Nigeria’s economic future.
Business
Just in: CBN Retains July Interest Rate at 27.5% , Says 8 banks meet recapitalisation target
The Governor of CBN, Mr. Olayemi Cardoso, disclosed this at the MPC briefing in Abuja this afternoon.

The Central Bank of Nigeria (CBN) has maintained the July Monetary Policy Rate (MPR) of 27.5 percent with all policy parameters.
The Governor of CBN, Mr. Olayemi Cardoso, disclosed this at the MPC briefing in Abuja this afternoon.
Mr Cardoso explained that the asymmetric corridor was retained at +500/-100 basis points around the MPR, leaving the Cash Reserve Ratio at 50 per cent for Deposit Money Banks and a general Liquidity Ratio of 30 percent.
He said that the decision to maintain the current MPR was premised on the need to continue to ensure the ongoing inflation reduction while vigorously ensuring declining prices.
The CBN boss revealed that as of July 18, the nation’s foreign reserve stood at 40.1 billion, which could provide import cover of nine and a half months.
He also disclosed that eight banks had achieved the new recapitalisation requirements.
The governor said the monetary and fiscal authorities would continue to work together to reduce the nation’s inflation rate to a single digit.
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