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Top 10 Manufacturing Companies in Nigeria

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The manufacturing company works by converting raw material into finished goods. This is a profitable business, that is why there is a huge amount of manufacturing companies in Nigeria. We will tell you about the most popular and respectable ones.

A nation is as powerful as its economy and being a developing nation, Nigeria is not much of a strong economic nation compared to other nations of the world and that is why it is often times referred to as a Third World country. Be that as it may, the country is gradually making efforts to improve its economy.

Manufacturing industry: top companies in Nigeria Nigeria’s economy is fully dependent on its manufacturing industry. In Nigeria, the manufacturing sector brings about 10% of each year’s GDP. Millions of Nigerians are involved in this industry and they help to improve the country’s economy. In the article, we will list the top manufacturing companies in Nigeria and their business and features.

Below are some of the manufacturing companies in the country.

Dangote Group

Dangote Group is owned by the richest man in Africa by the name of Aliko Dangote and the company happens to be the biggest there is among the many industries available in the whole of west Africa. Dangote Group was established in the year 1981 and it was originally a trading venture that imported sugar, cement, rice, fisheries, and many other consumer products that it distributed in the Nigerian market. As time went by the company started venturing in other forms of businesses like the production of sugar, salt, cement, flour, steel, oil and gas and it also does some certain level of packaging among many other things.

Dangote is so large and has over the years built itself up to the point that it currently has a lot of affiliates and some of them include, Dangote Textiles, Dangote Transport, Dangote Cement, Dansa Foods Limited, Kura Holdings Limited and Dancom Technologies and a host of others.

Nigerian Breweries

 

Nigerian Breweries was established on the 16th day of November, 1946 in Nigeria. This became the first and largest brewery in the country since the time even up to this moment. The products that are offered for sale by this company include alcoholic drinks which include Guiness, Gulder, Heineken, Ace Passion Apple Spark, Star, Legend extra stout, Goldberg Lager, Star Lite Lager and Life Continental Lager. However, the company did not stop at just the production and distribution of alcoholic drinks for sale.

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Nigerian breweries also produced drinks that didn’t contain alcohol and some them include Maltina, Malta Gold, the former Maltonic, the former Malta Guiness, Amstel Malta, there’s also Climax Energy drink and Fayrouz.

Nestle Nigeria

The next lead manufacturing company we’ll be looking at is Nestle Nigeria. Nestle Nigeria is a food processing industry that was established in the year 1961 with the name Nestle Products Nigeria Limited, however, it was not until the year 1969 that the company started running its operations. In the year 1991, the name of the company was changed to Nestle Foods Nigeria and in 2001, it became known as Nestle Nigeria PLC.

The company focuses on making use of plants like cocoa to create beverage products such as coffee and other products they manufacture include; instant foods, seasonings, frozen and refrigerated food, performance and healthcare nutrition, soup and sauces, bottled water, breakfast cereals, pet food and they even produce milkshakes and other beverages. Nestle also happens to be the biggest food company in the world.

Flour Mills of Nigeria

Flour Mills of Nigeria Plc was incorporated in the month of September, 1960 originally as a private limited liability company and two years later, the company started to run after it had mounted a milling capacity of 600 metric tons a day. In the year 1978, the company became a public limited liability company and the shares of the company became listed on the Nigerian Stock Exchange that year. Flour Mills of Nigeria was established by George S. Coumantaros.

When it comes to milling wheat in Nigeria, Flour Mills is the biggest company in the business. Flour Mills is the owner of the popular brand known in Nigeria as Golden Penny which is among the brands mostly favoured by bakeries, confectioneries, and consumers in Nigeria. Now, the company has a milling capacity of 8,000 metric tons per day.

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Unilever Nigeria

Unilever Nigeria Plc is another one of Nigeria’s largest manufacturing companies. It is an affiliate of Unilever Oversea Holdings B.V. The company was established in the year 1923 and the company engages in the production of a wide variety of goods. Some of the goods manufactured by the company include Royco (seasoning), Lipton Yellow label tea, Lux Soap, Omo (detergents), Knorr (seasoning), Lifebuoy (soap), Pears (oil and cream), Blue Band (butter), Sunlight (detergent), Close Up (toothpaste), Pepsodent (toothpaste), and Vaseline (petroleum jelly). The company has made a huge impact in the lives of millions of people not just in Nigeria, but also in other countries of the world with their products.

In the year 2014, Unilever Nigeria Plc made the list of the top 20 most valuable companies cited in the Nigerian Stock Exchange.

 PZ Cussons Nigeria Plc

Factory

This manufacturer is a huge name in the food, nutrition, home care, personal care, and electrical production. The company’s establishment year is 1948, and originally it was called PB Nicolas & Company Limited. Now, this company is a Nigerian subsidiary of PZ Cusson Plc, which is a firm in Manchester, the United Kingdom. The PZ Cussons head office is situated in Lagos. They produce a wide amount of personal care production (Cussons Baby, Carex, Premier, Venus, Robb, Joy, and Imperial Leather), home care goods (Morning Fresh and Zip detergent), and nutritional foods (Nunu, Yo!, Coast, Devon King’s, Mamador, and Olympic).

DUFIL Prima Foods Limited

DUFIL stands for “De United Foods Industrial Limited”. This company has consequently grown into one of the most popular and known manufacturing companies in Nigeria. This group is a joint venture between two companies – Tolaram Group in Singapore and Salim Group in Indonesia. The head office of DUFIL is situated in Lagos, and it has two factories in Ogun State (established in 1995), and Port Harcourt (2001). There is also a third factory called Northern Noodles Limited, which is a DUFIL subsidiary in Kaduna. The most famous products by this company are Indomie instant noodles, but it also produces other kinds of nutritional food.

United Africa Company of Nigeria

UACN is one of the top manufacturers in Nigeria. It has been functioning since 1931, and in 1973 it rebranded, taking its current name. This company runs different businesses and operates them from its headquarters in Lagos. There are multiple food and beverage products that are produced by UACN Company. Some of the popular foods they produce are Funtime coconut chip and Funtime cake, Gala Sausage rolls, Snaps, and Supreme ice cream. As for the beverages, there are Gossy warm spring water, Swan water, and various flavored drinks with orange, apple, and pineapple. They also produce Grand oil and Grand cereal, as well as Vital feed production.

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 Guinness Nigeria Plc

Guinness Nigeria is one of the most recognizable companies in Nigeria, according to the Forbes Magazine. This firm is a subsidiary of Diageo Plc, the company located in the United Kingdom. In 1962, this company started out when the brewery was built in Ikeja. Later, two more breweries were opened in Benin City and Ogba. Some of the products patented by them include Malta Guinness and Malta Guinness low sugar, Harp Lager Beer, Foreign Extra Stout, Satzenbrau, Guinness Extra Smooth, and many others.

 Lafarge Cement

This cement company is one of the market giants in Nigeria that specialize in building materials. In 2010, they celebrated the 50th anniversary of the Elephant Portland Cement production, which is the flagship product of this firm. The company is a subsidiary of the French firm – as for now, there are two cement factories in Nigeria operated by them. They are situated in Ogun State (Sagamu Plant) and Abeokuta (Ewekoro Plant). As for the head office of the Lafarge Cement Company, it is situated in Lagos. You have found out what the top manufacturing companies in Nigeria are. They all produce different content, but every one of them is dedicated and determined – otherwise, they would not have been so successful all through the years.

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Business and Investment

The Dollar To Cedi Exchange Rate

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The Dollar To Cedi Exchange Rate

Cedi is the official currency of Ghana. Ghana is a West African country that is also called the Gold Coast. Ghana has used three other currencies before the use of the Cedi. Ghana while under the British colonial masters used the British West African Pound which all the British colonies used when Ghana gained independence. Ghana started using their own independent currency that is, the Ghanaian Pound which they used from 1958 to 1965. By 1965, Ghana decided to adopt the decimal system of currency and the Ghanaian Cedi was introduced. The word “Cedi” means Cowry Shell literally in Akan language of Ghana. The cowries were also used in pre-colonial Ghana as a currency.

There is the first Cedi, the second Cedi and the third Ghanaian Cedi. The first Cedi was used between 1965 to 1967. It had the first president of Ghana’s face on its coins and notes.

His name was Kwame Nkrumah. The first Cedi was later replaced in February 1967 after the military coup and the second Cedi was introduced. It was introduced to ease exchange and as an opportunity to have Kwame Nkrumah’s face removed from the coins and notes.

The Pesewa is the coin that Ghana uses. 1 Cedi equals 100 Pesewas. The third Cedi was introduced in 2007 due to inflation reasons. The second Cedi was used between 23rd of February 1967 to 2nd of July 2007. One 3rd Cedi or Ghanaian Cedi equals to 10,000 of the second Cedis. As at July 2007 when the third Cedi was introduced, the second Cedi was so inflated that 9,500 second Cedis equaled to 1 Dollar. This caused Ghana to switch to the third Cedi. Since 2007, the third Cedi has been the official currency of Ghana. The third Cedi itself has been experiencing inflation since it was introduced, but the currency has since stabilized.

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So, to the point of this article, what is the current Dollar to Cedi Exchange Rate?

As at 17th of February 2019, One United States Dollar equals to 5.3 Ghanaian Cedis.

This means that One Ghanaian Cedi equals to 0.19 US Dollar.


The Ghanaian Cedi is selling at a price of 5.0042GHC and buying at a price of 4.999GHC for the United States Dollars according to www.bog.gov.gh which is the Bank of Ghana website.

The Bank of Ghana issues the Ghanaian currencies both the Cedi Banknotes and the Pesewa coins.

The history of the Cedi to Dollar exchange rate is quite complicated. The rates are different for the first Cedi, the Second Cedi and the third Cedi. As at when the second Cedi was dissolved in 2007, One Dollar equaled to 9,500 of the second Cedi. When the Second Cedi called the “Ghanaian Cedi” officially was introduced, it was One Ghanaian Cedi to One US Dollar. But inflation soon hit the Ghanaian Cedi and its value started to drop. Like we stated earlier, as of today, 1 US dollar is no longer equal to 1 Ghanaian Cedi. Instead 1 Dollar equals 5.3 Ghanaian Cedi.

So, now that you know a bit about the exchange rate of the Dollar to the Cedi. Let’s talk about the US Dollar. We have briefed you on the Ghanaian Cedi earlier on in this article.

So, as you already know the US dollar is official currency of the United States and its territories. Some other nations also use the United States Dollars as a currency whether officially or unofficially. Zimbabwe is one african country for example, that uses the Dollar. 1 US Dollar is divided into 100 Cents. The United States Dollar is available in bank notes and coins. The US Dollar is issued by the Federal Reserve System.

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The US Dollar was first defined in 1792. Faces of former and deceased United States’ Presidents can be found on the Dollar notes and coins. The US Dollar is one of the most traded currencies at the foreign exchange and is one of the most used currencies in the world.

 

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Business and Investment

The Nigerian Currency – The Naira and Kobo

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The Nigerian Currency – The Naira and Kobo


The Nigerian Currency – The Naira and Kobo–Introduced in 1973, the currency currently used in Nigeria is the Naira and Kobo. Prior to this, the country used Pounds as the legal tender. Naira has the sign ” ₦ ” while the kobo is signed ”K” .

The Kobo

In 1973 the kobo had five denominations namely  1/2k, 1k, 5k, 10k and 25k. In 1989  50K and N1 notes were changed to coins. In recent times the kobo coins have been phased out as the value can no longer purchase items.

Who is the Sole Issuance of the Nigerian Naira?

This is one of the biggest questions which had been lingering in the minds of many Nigerians for years as this had been like a mystery to them.

The Central Bank of Nigeria (CBN) is the sole issuer of legal tender money throughout the Nigerian Federation. They are the only body that allows the circulation, regulation and control of the amount of money that flows in the country. This is so in order to ensure monetary and price stability. The Currency & Branch Operations Department of the CBN is in charge of currency management, through the procurement, distribution/supply, processing, reissue and disposal/disintegration of bank notes and coins.

half kobo

½ kobo. Front: Cotton plants, Reverse: Coat of arms. Introduced – 1973

1 kobo

1 kobo. Front: Oil derricks, Reverse: Coat of arms. Introduced – 1973

5 kobo

5 kobo.   Front: Cocoa beans, Reverse: Coat of arms. Introduced – 1976

10 kobo

10 kobo. Front: Palm trees, Reverse: Coat of arms. Introduced – 1973

25 kobo

25 kobo. Front: Peanuts, Reverse: Coat of arms. Introduced – 1973

50 kobo

50 kobo. Front: Maize, Reverse: Coat of arms. Introduced – 1991

 

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The Naira

In 1973, the Naira note was introduced with the following Denominations – ₦1, ₦5 and ₦10. Some notes were subsequently phased out, others redesigned and some new notes were introduced.

1 naira note

1 Naira note. Herbert Macaulay. Introduced – 1973

five naira old

Five Naira note (old). Sir Abubakar Tafawa Balewa. Introduced – 1973

5 naira new

Five Naira note (New). Sir Abubakar Tafawa Balewa. Redesigned – 2007

TEN NAIRA OLD

Ten Naira note (old). Alvan Ikoku. Introduced – 1973

10 naira new

Ten Naira note (new). Alvan Ikoku. Redesigned – 2007

twenty naira note old

Twenty Naira note (old). Murtala Mohammed. Introduced – 1977

twenty naira new

Twenty Naira note (new). Murtala Mohammed. Redesigned – 2007

50 old

Fifty Naira note (old). Introduced – 1991

fifty naira

Fifty Naira note (new). Redesigned – 2007

One_hundred_naira

100 Naira note. Introduced – December 1999

President Goodluck Jonathan unveiled a new 100 Naira note on the 12th of November, 2014 to commemorate Nigeria’s 100 years of existence. In front, the new note has the same portrait of Chief Obafemi Awolowo as the existing note but has a new color scheme and increased security features, including “One Nigeria, Great Promise” in microprinting. On the back it features traditional dancers as well as a QR code which launches a website about Nigeria’s history when scanned.

Centenary 100 naira note. Introduced – November 2014

two hundred

200 Naira note. Introduced – 2000

five 5oo

5oo Naira note. Introduced – 2001

1000 naira

One thousand Naira note. Introduced – 2005

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Business and Investment

Benefits of Currency converter Apps

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Benefits of Currency converter Apps-Currency converter Apps are a quick and easy way to see live market exchange rates at the click of a button, convert international currencies and do business with multinationals within and outside the shores of the country.

It is the prayer of every business minded person to be able to do business on an international scale and this in itself is a good desire. the major challenge with running foreign transactions is the need for an accurate conversion of currencies into the correct local equivalent. Those who currency traders and mostly referred to as Bureau operators are available and useful but an intelligent and well vast businessperson understands that to a large extent the best deals need a bit of verification and cross checking. Other times,persons who specialize in international trade may need an instant update wherever they may be. This is why it’s of uttermost benefit that there’s a host of currency conversion apps available for Android smart phones,Apple iPhones and systems.

We are going to be listing here for your knowledge and reading pleasure, five benefits of Currency converter Apps.

benefits of Currency converter Apps.

Image credit; HowToiSolve

Five benefits of Currency converter Apps

  • The Currency converter app is specifically programmed to do the entire task of monetary calculations for the user and because these apps are synchronized with the internet, they get the updated rate of exchange at all times, leaving no room for discrepancies. No currency exchange or transaction is ever possible without a good currency converter, at least to the best of our knowledge.
  • Currency converter Apps come in handy, are simple, are accurate and are fast to be employed in any situation as the user just has it either directly on his smart phone or computer system, providing him/her quick and real time access to doing business within and outside the shores of the country without fear of making human error that is a characteristic of most this transactions.
  • Currency converterApps are mostly free and come ad free too. They are ingrained with the unique feature that links all of them to a currency page online. Which proofreads them with the needed database that allows you discover in-depth the knowledge of individual currencies. Most of these converter Apps follows every currency being traded and offers a multiple-currency display to help you keep track of relative trends simultaneously and keeping you updated as well.
  • Currency converter Apps are able to handle a large number of popular currencies, it also has in built in it, several options that would make it appeal to a large number of business people. It has the ability to beoperated in offline mode – to save on the bandwidth and data time. In addition, it can track changes in the international markets and display it as a graph, helping to predict future trends and giving analytics. Paired with a constant update of currency news, this if you will agree with me is a major benefit of Currency Converters that exist as apps.
  • Currency converter Apps can be depended on for accurate and fast information. It is  dependable to provide information on real time. These apps have and easy to navigate, pleasing and easy to use interface,presents the latest data on world currencies and precious metals. Users can even have all such data tracked in real-time.
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