The most important of the accords signed was the Project Incentive Agreement, which will underpin increased financing for infrastructure projects in Nigeria. Ex-Im also signed separate agreements involving six leading Nigerian banks and a regional government. Grandmaison said these would increase the ability of Nigerian banks to lend money to local businesses. TDA, which only resumed its activities in Nigeria last month, approved funding of projects and feasibility studies in sectors ranging from domestic natural gas use and refinery modernisation to cement production and frequency spectrum management as well as evaluating investment in Nigeria's power generation. Most have U.S. export content of 100 percent.
Areas of concern seem to be related to supplier deliveries, selling prices and purchase prices.
THE Competition Commission is to begin its inquiry into allegations that Sappi Fine Papers tried to drive a smaller paper merchant out of the paper industry, a local newspaper reported. According to Papercor MD Geoff Saks, Sappi forced his company to buy paper from its designated distributors at uncompetitive prices after Sappi refused to sell his company paper or at times charged higher prices. Saks also accuses Sappi s distributors of allegedly colluding to manipulate prices through the Association of Paper Distributors which regulates the prices charged to small paper merchants. He said that these companies were offered special loyalty discounts by Sappi, which were not extended to his company. Saks said that his company has applied for an interim relief order to allow his company to get paper directly from Sappi.