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Monthly Archives: June 2019

Lagos is fourth most expensive city in Africa, says survey

Lagos is fourth most expensive city in Africa, says survey

Mercer, a firm that produces individual cost of living and rental accommodation cost reports for cities, has ranked Lagos as the fourth most expensive city in Africa among those surveyed. Although in comparison with other cities in the world, Lagos, ...

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Nigeria wins award with Egina floating facility

Nigeria wins award with Egina floating facility

Nigeria has been honoured in France for its floating facility, which is expected to add 200,000 barrels of oil per day to the country’s daily production. The facility built by Samsung Heavy Industries Nigeria (SHIN) bagged the ‘Project of the ...

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Nigerians may pay more for commodities, as new duty regime bites

Nigerians may pay more for commodities, as new duty regime bites

•Importers bemoan hike in duty rate Nigerians may be bracing for higher prices of commodities as the spiral effect of the sudden increase in import duty by over 6.1 per cent by the Federal Government, takes toll on prices. Already, ...

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FRSC Reiterates August 1st Deadline On Number Plate, Drivers’ License Violations

Truck accidents cost Nigeria N9.8bn in 10 months, says FRSC

In a bid to curb the growing rate of crimes and crashes associated with motorcycles and tricycles and the quest to improve upon the existing National Drivers and Vehicles Database, the Federal Road safety Corps (FRSC) has reiterated its position ...

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FG Taking Proactive Measures To Resolve Apapa Gridlock – Osinbajo

…Mulls Amendment of Procurement Act to Support Small Businesses

* VP inspects progress of work done at Lagos port environs   Nigeria’s Vice President, Prof. Yemi Osinbajo, SAN, has assured that the Federal Government is adopting short-term, mid-term and long-term measures, including improving infrastructure, towards resolving the Apapa gridlock ...

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Seafarers’ Day: Nigeria’s First Lady Leads Campaign For More Women In Maritime

Seafarers' Day: Nigeria's First Lady Leads Campaign For More Women In Maritime

* Dakuku urges men to support women inclusion As part of efforts to key into the global appeal for more women in shipping, the First Lady of the Federal Republic of Nigeria, Dr. Aisha Buhari, has revealed that President Muhammadu ...

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PTML begins plans to transfer RoRo cargoes to Ikorodu terminal

PTML begins plans to transfer RoRo cargoes to Ikorodu terminal

The Ports & Terminal Multiservices Limited (PTML) has commenced moves to transfer all Roll in Roll Out (RoRo) cargoes to Ikorodu Lighter Terminal. The PTML terminal in Lagos Port complex has therefore urged the importers urgently clear their goods from ...

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INTELS deepens women empowerment

INTELS deepens women empowerment

INTELS Nigeria Limited has graduated a fresh batch of 80 women under its Women Empowerment Programme Scheme Synergy (WEPSS). WEPSS, which is a Corporate Social Responsibility programme of INTELS, was established in 2013 with the vision of empowering 5,000 community ...

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Nigerian firm secures $9m from Norway to boost renewable energy

Nigerian firm secures $9m from Norway to boost renewable energy

Nigerian distributed utility company, Arnergy, has raised $9 million in a Series A round of funding led by Breakthrough Energy Ventures with participation from the Norwegian Investment Fund for Developing Countries (Norfund), EDFI, ElectriFI and All On. The firm noted ...

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80% of Nigerian waters yet to be surveyed, says NPA

80% of Nigerian waters yet to be surveyed, says NPA

. Nation unveils first indigenous navigational chart Over 80 per cent of Nigeria’s waters are yet to be surveyed to modern standards, with more than 90 per cent yet to be charted with recent survey data, according to the Nigerian ...

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VAT to be 7.5 per cent next year, says ex-minister

VAT to be 7.5 per cent next year, says ex-minister

Nigeria is to raise value-added tax (VAT) from five per cent to 7.5 per cent in 2020, as Africa’s biggest oil producer seeks to shore up falling revenue, former Minister of Finance, Zainab Ahmed, has disclosed. She made the disclosure ...

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IYC alleges anomalies in NNPC recruitment, threatens showdown with Presidency

IYC alleges anomalies in NNPC recruitment, threatens showdown with Presidency

The Ijaw Youth Council (IYC) has threatened a showdown with the Presidency over alleged anomalies in the recent recruitment exercise being conducted by the Nigerian National Petroleum Corporation (NNPC). The body of Ijaw youths worldwide warned of dire consequences if ...

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Increase in banks’ capital base may not help businesses, say operators

Increase in banks’ capital base may not help businesses, say operators

As welcome as the Central Bank of Nigeria (CBN’s) plan to recapitalise local banks to be in tune with current realities amid increases in exchange and inflation rates, such a move may not really improve lending to the real sector ...

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WARTU, NARTO Visit Shippers’ Council

West Africa Road Transport Union (WARTU) and National Association of Road Transport Owners (NARTO) visited Nigerian Shippers’ Council (NSC) head office, Lagos, last week. Enjoy pictures.

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NPA Holds Strategic Discourse With NIPR

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CBN mulls fresh capital base for Nigeria’s banks

CBN mulls fresh capital base for Nigeria’s banks

The disclosure yesterday of plans by Central Bank of Nigeria (CBN) Governor Godwin Emefiele to pursue, among other objectives, the recapitalisation of the banking sector, have triggered suspicions of distress in the industry. Pundits, who pursue this line of argument ...

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Customs Urge Traders To Prioritize Integrity As Nigeria-Benin Connectivity Kicks Off

199 Officers Trained At Customs College In 2 Years

By Kenneth Jukpor As part of efforts to ensure the gains of the bilateral Customs connectivity between Nigeria and Benin Republic, is harnessed optimally, the Comptroller General of Nigeria Customs Service (NCS), Col. Hameed Ali (rtd), has admonished traders as ...

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Airtel Nigeria’s IPO exclusively for high net worth investors

Airtel listing pushes market capitalisation by N1.34 trillion

Shareholders urges transparency, task other multinationals Bharti Airtel, the second largest telecommunications in Africa, is planning to sell its Nigerian unit’s shares exclusively to high net worth investors and qualified institutional investors, through book building. The company, in its offer prospectus ...

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FG takes payment of defunct Nigeria Airways ex-workers in Diaspora to London

FG takes payment of defunct Nigeria Airways ex-workers in Diaspora to London

The Federal Government has taken the verification and payment of ex-workers of the defunct Nigeria Airways Limited (NAL) in Diaspora to London, United Kingdom (UK). The two-week exercise, which will be conducted by an inter-ministerial team, begins today, Monday, June ...

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N100 Million Bribe Scandal: Admiral Eyo, Others Face Special Navy Panel

N100 Million Bribe Scandal: Admiral Eyo, Others Face Special Navy Panel

· Truckers summoned to fish out corrupt officers · Extortion persists – Truckers, Freight Agents By Kenneth Jukpor Three months after N100 million was allegedly found in the account of a junior Naval officer stationed along Lagos port access roads to control ...

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