Business
Nigeria To Spend USD123.5BN On Industrial Minerals Development
The Ministry of Mines and Steel Development has estimated that over USD 123.5 billion will be required for the development of the country’s industrial minerals over the next five years (2023-2028).
Project Coordinator, MinDiver, Dr. Sallim Salaam, who discloses this, said that Nigeria is richly endowed with over 30 industrial mineral types found in about 752 locations.
He said that these minerals are at different stages of development, from exploration to mining, adding that the
key participants in the industrial minerals sub-sector are artisanal and small-scale operators who exploit feldspar, trona, kaolin, talc, silica sand and dolomite for the chemical polymer and pharmaceutical industries.
” Others are quarry operators that mine and process granites, limestone, and marble as aggregates for the construction industry, cement, and lime production.
” Also included are barite and mica for mud drilling in the oil industry and phosphates for fertilizer production and soil liming.
“Generally, the local production of industrial minerals has steadily grown from 43,725,070 tonnes in 2016 to 78 454,628 tonnes in 2021.
” Even at this level of progress, Nigeria currently imports over 80 percent of its industrial minerals for the local industries.
” The Federal Government is determined to develop the available industrial minerals to stimulate industrial growth further and for import substitution, ” he said.
The estimated cost for implementing the actions described in the roadmap is 123.5 USD, to be spent over five years, the direct economic benefit obtained from the substitution of mineral imports covers this cost.
Business
Dettol apologises after ad to clean up ‘toxic men’ backfires in China
The advert sparked an uproar on the Chinese internet, with some users saying it objectifies women and others calling for a boycott of the brand.
British hygiene brand Dettol has apologised for an advert in China that it claims was meant to call out sexism, but has instead backfired.
The five-minute long advert for a multipurpose disinfectant, styled like a micro drama, starts out with a man looking for a partner who is “clean” and “not tainted by other men”.
A plot twist comes late in the advert when his new girlfriend calls him out for his misogyny and breaks up with him. Dettol is then presented as the solution against “toxic men [who] are just like bacteria”.
The advert sparked an uproar on the Chinese internet, with some users saying it objectifies women and others calling for a boycott of the brand.
Dettol said the advert, which has been removed following the backlash, was intended to criticise gender stereotypes, but that snippets of it that later circulated online distorted its core message.
“We recognise that it has offended many people, especially women. We take responsibility for any negligence in creating and reviewing the content of the advert,” Dettol said in a statement on Monday.
The company also said it would review its content moderation processes.
( BBC)
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Business
Okereke-Onyuike Hails CIS First Female President, Ahimie
Okereke-Onyuike commended the CIS for demonstrating confidence in the leadership capacity of women and for taking a bold step towards strengthening gender balance in the profession.
Photo: Okereke-Onyuike
Former Director-General of The Nigerian Stock Exchange (now NGX), Professor Ndi Okereke-Onyuike, has described the emergence of Dr Fiona Ahimie as the first female and 14th President and Chairman of Council of the Chartered Institute of Stockbrokers (CIS) as a historic breakthrough for gender inclusion and leadership within Nigeria’s capital market.
Professor Okereke-Onyuike made the remarks when she hosted Ahimie and a high-powered delegation from the Institute on a courtesy visit ahead of the President-Elect’s inauguration scheduled for June 25, 2026.
During the visit, Ahimie formally invited Professor Okereke-Onyuike to attend the historic event.
Welcoming the delegation, Professor Okereke-Onyuike expressed delight at the election of Dr Ahimie, noting that her emergence represents a defining moment in the 30-year history of the Institute and a significant milestone for women in the financial services sector.
Okereke-Onyuike commended the CIS for demonstrating confidence in the leadership capacity of women and for taking a bold step towards strengthening gender balance in the profession.
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