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Nigerian Shipowners To Get NNPC, NIMASA Nod To Lift Crude

Nigerian Shipowners To Get NNPC, NIMASA Nod To Lift Crude

·        As Dakuku champions new trade terms; Kachikwu, Baru weigh options   After several years of lobbying, debates and arguments over the trade terms in crude affreighment, shipowners and other stakeholders in the maritime sector are on the verge of ...

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Appeal Court Orders Terminal Operators to Refund N1tn

Appeal Court Orders Terminal Operators to Refund N1tn

The Court of Appeal in Lagos wednesday ordered terminal operators to refund N1trillion to the federal government. The court also upheld the power of the Nigerian Shippers’ Council (NSC) to intervene in shipping agency charges and fees collectable by suppliers ...

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Again, Niger Delta Avengers Threatens Renewed Attacks on Oil Facilities

Again, Niger Delta Avengers Threatens Renewed Attacks on Oil Facilities

House summons Kachikwu, Baru over fuel subsidy payments Senate rejects report for silence on payments Barely two months after it announced the end of its ceasefire last November, the Niger Delta Avengers wednesday again warned the federal government to brace ...

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African Entrepreneurs, Businesses are Stepping Beyond Borders, Going Global, Says Osinbajo

African Entrepreneurs, Businesses are Stepping Beyond Borders, Going Global, Says Osinbajo

Vice President Yemi Osinbajo has told American scholars and professionals that Africa’s impressive economic transformation was being driven by ambitious businessmen and women. These entrepreneurs were stepping beyond national borders and going global, Osinbajo said at the inaugural “Africa Rising’’ ...

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Market Capitalisation Hits New High of N16tn as Bulls Sustain Hold

Market Capitalisation Hits New High of N16tn as Bulls Sustain Hold

The bulls continued their run on the Nigerian bourse Wednesday, lifting market capitalisation on the Nigerian Stock Exchange (NSE) to a new high of N16.08 trillion, just as the All-Share Index rose by 1.89 per cent to close at a ...

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NAMA to improve airspace safety profile

NAMA to improve airspace safety profile

The Managing Director, Nigerian Airspace Management Agency, Capt. Fola Akinkuotu, says the agency is building on the current safety profile of the nation’s airspace. Akinkuotu, who made the remarks in a statement to mark his first anniversary as the MD/CEO ...

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Right of Way issues may delay new Lagos-Ibadan rail

Right of Way issues may delay new Lagos-Ibadan rail

The Minister of Transportation, Mr. Rotimi Amaechi, has expressed worry about a number of unforeseen challenges affecting the construction of a standard gauge railway line between Lagos and Ibadan. The $1.5bn project, whose groundbreaking ceremony was performed last year by ...

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43% Of Capital Projects In 2018 Budget Have No Impact On Nigerians – BudgIT

43% Of Capital Projects In 2018 Budget Have No Impact On Nigerians – BudgIT

A civil society group, BudgIT, has said that about N744.5 billion, or 42.9 per cent of a total N2.65 trillion provision for capital projects in the 2018 Appropriation Bill currently before the National Assembly for approval may have no direct ...

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NIMASA Champions New Trade Terms To Boost Indigenous Shipping

NIMASA Champions New Trade Terms To Boost Indigenous Shipping

 *Kachikwu, Baru weigh options as expert says it is against market forces Shipowners and other stakeholders in the maritime sector are on the verge of getting the desired change in trade terms from Free On Board (FOB) to Cost Insurance ...

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Appeal Court Dismisses STOAN Appeal, Upholds High Court Judgment

Appeal Court Dismisses STOAN Appeal, Upholds High Court Judgment

By Kenneth Jukpor The Court of Appeal, Lagos has dismissed the entire appeal of Seaport Terminal Operators Association of Nigeria (STOAN) in the suit against Nigerian Shippers’ Council (NSC) and Shippers Association Lagos State (SALS). Justice Nwaoma Uwa who gave ...

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NNPC begins direct fuel supply to independent marketers

NNPC begins direct fuel supply to independent marketers

The Nigerian National Petroleum Corporation has commenced the direct supply of Premium Motor Spirit, popularly known as petrol, to independent oil marketers in order to effectively clear the fuel queues still prevalent in some parts of the country. It was ...

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Insufficient power, major constraint to business —CBN

CBN, others to develop roadmap for 80% financial inclusion

Insufficient supply of electricity is the major constraint to business activities across the country, the Central Bank of Nigeria has said. According to the CBN, the latest survey conducted by it on businesses in the fourth quarter of 2017 showed ...

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NNPC Jettisons Long-term Crude Lifting Contracts

NNPC Jettisons Long-term Crude Lifting Contracts

Reported plans by Nigeria to move away from holding annual contracts for the lifting and sale of its crude oil grades, to longer term contracts have been sidestepped by the Nigerian National Petroleum Corporation (NNPC). The NNPC disclosed this last ...

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Scores Dead, Many Injured as Gas Explosions Rock Lagos

Scores Dead, Many Injured as Gas Explosions Rock Lagos

Scores of people were on Monday dismembered and several others sustained injuries, including third degree burns, as two gas explosions rocked both the Magodo and Badagry areas of Lagos. While the first explosion occurred at the Second Coming Nigeria Limited ...

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Crude Oil Price Hits $70 P/B Despite Surging US Output

Oil Prices Rise as PENGASSAN Strike, North Sea Pipeline Threaten Supply

Crude oil price hits $70 per barrel Monday despite surging production by the United States, which is offset by the production cuts led by the Organisation of Petroleum Exporting Countries (OPEC) and Russia. The international benchmark Brent crude futures rose ...

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Udoma: Indicators Point to Better Economic Performance in 2018

Udoma: Indicators Point to Better Economic Performance in 2018

The Nigerian economy will be significantly better in 2018 going by the consistent positive trend of key macroeconomic indicators since the country exited the recession in the second quarter of last year, the Minister of Budget and National Planning, Senator ...

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Nigeria Consolidates Status as AfDB’s Largest Shareholder

Nigeria Consolidates Status as AfDB’s Largest Shareholder

President Muhammadu Buhari will on Thursday commission the new office complex of the African Development Bank (AfDB) in Abuja, consolidating the country’s position as the regional Bank’s largest shareholder. Nigeria is AfDB’s largest shareholder with a portfolio of approximately US$6 billion and ...

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United Capital to Appeal Ruling as Court Nullifies 9mobile Board

United Capital to Appeal Ruling as Court Nullifies 9mobile Board

•  Says sale of telco will go ahead United Capital Trustees Limited, the receiver-manager appointed by the consortium of 13 banks which lent 9mobile (formerly Etisalat Nigeria) $1.2 billion, has said it will appeal the ruling of the Federal High Court ...

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With 12% Rise in Fourteen Days Nigerian Stocks Are World’s Best

With 12% Rise in Fourteen Days Nigerian Stocks Are World’s Best

• Dangote cement leads gains as rally continues on the back of rising oil prices The world-beating rally in Nigerian stocks may not be over yet. The main equity index in Africa’s biggest economy has surged 12 per cent this year ...

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CIF, FOB Are Market Forces Determinants—Johnson Chukwu

CIF, FOB Are Market Forces Determinants—Johnson Chukwu

·         Freight Forwarders kick against palletization policy ·       How FG Mismanaged N180bn Chinese Loan By Kenneth Jukpor & Nkem Osuagwu Maritime industry experts and ship-owners, over the years, have driven on the wrong impression calling for a change in the Nigerian ...

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