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OPEC meets as Trump calls for oil taps to be kept on

OPEC meets as Trump calls for oil taps to be kept on

OPEC members and other oil-producing countries gather in Vienna on Thursday to discuss cutting output to prop up prices, as US President Donald Trump urged them to keep the faucets open. Oil ministers from 20 or so countries busily criss-crossed ...

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NIMASA challenges piracy reports on Nigerian waters

NIMASA challenges piracy reports on Nigerian waters

The Director-General, Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, has called on the International Maritime Bureau (IMB) to ensure fairness and balance in its reportage of piracy issues on Nigeria’s territorial waters. Peterside regretted what he described as ...

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NNPC to engage Presidency, stakeholders over N800 billion subsidy arrears

NNPC moves to acquire 30% market share in petrol retailing

Nigerian National Petroleum Corporation (NNPC), yesterday said the corporation is currently engaging the Presidency, Ministry of Finance as well as oil marketers to ensure settlement of outstanding N800 billion subsidy debts. NNPC’s Group General Manager, Public Affairs Division, Ndu Ughamadu, ...

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‘Nigeria, others must deepen intra-African trade for economic integration’

‘Nigeria, others must deepen intra-African trade for economic integration’

Participants at the 13th African Economic Conference called on African countries to leverage the full range of their strengths and resources to accelerate the region’s drive towards continental integration. Indeed, the experts agreed that a self-reliant approach that emphasizes intra-African ...

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Jaiz Bank partners CBN to deepen rural financial inclusion

2019: CBN To Raise N1.8tn From Treasury Bills Sale Q1

Determined to strengthen Nigeria’s economic diversity, Jaiz Bank Plc, is partnering with the Central bank of Nigeria (CBN), to promote financial inclusion especially in the rural communities. The Managing Director of the bank, Hassan Usman, revealed the strategic plan will ...

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Why we gave pipeline protection contract to OMS, by NNPC

Why we gave pipeline protection contract to OMS, by NNPC

The Nigerian National Petroleum Corporation (NNPC) yesterday in Abuja defended it decision to award the contract for the protection of the 87-kilometre Trans Forcados Pipeline (TFP) to an indigenous firm, Ocean Marine Solutions (OMS). Recently, some Niger Delta youths from ...

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Govts Urged to Establish Entrepreneurial Hub to Tackle Poverty

The federal and state governments have been advised to set up private sector-led initiatives such as an entrepreneurial hub to tackle the rising incidence of poverty in the country. The Financial Derivatives Company Limited stated this in its latest bi-monthly ...

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SEC, stakeholders reiterate commitment to developing nation’s bourse

SEC, stakeholders reiterate commitment to developing nation’s bourse

The Securities and Exchange Commission (SEC), in collaboration with other stakeholders have adopted strategies to improve key areas in the capital market, especially investor protection and enlightenment campaigns, to enable the market play a dominant role in economic development. The ...

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GSMA highlights policy reforms to lift Nigeria’s economy

GSMA highlights policy reforms to lift Nigeria’s economy

Says country has potential to connect 55% Nigerians by 2025 The Global System for Mobile Telecommunications Association (GSMA), has said modernising regulation and policy reform will be crucial to boosting Nigeria’s digital economy, and accelerating Internet access for millions through ...

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Nigeria gets fresh $200m loan to finance electricity projects

Nigeria gets fresh $200m loan to finance electricity projects

The Federal Government has been granted $200 million loan for the funding of the nation’s electrification project.“The Board of Directors of the African Development Bank Group has approved a $150 million sovereign loan to the Federal Government of Nigeria to ...

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18 fuel-laden vessels waiting to berth at Lagos port

Many travails of maritime sector in 2018

No fewer than 18 vessels laden with petroleum products are waiting to berth at the Lagos seaport. The shipping position of Nigerian Ports Authority (NPA) obtained yesterday revealed that the vessels, including two other vessels, were being delayed to berth ...

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Market indices depress further over persistent free fall in equity prices

Foreign Investors Withdraw N642bn From Stock Market

The continued free fall in equity prices, which indicates a low buying interest among the investor-community, has resulted to another significant decline in the market capitalisation and All-Share Index (ASI), estimated at 2.5 per cent. Indeed, the managers of the ...

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Reserves rebound to N42 billion as interbank market gets $541 million

Reserves rebound to N42 billion as interbank market gets $541 million

The nation’s foreign exchange reserves, at the weekend, halted a four-month decline, adding $477 million, accumulated in three trading days, to settle at $42.07 billion. The accretion has been widely attributed to the trickles of the recently floated $2.8 billion ...

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Tightening noose against policy riggers of ‘41 items’

Tightening noose against policy riggers of ‘41 items’

Why interventions are not quick fixes of structural gaps CBN insists policy option is potent, saves $21b in food imports It is not going to be a journey as usual for banks, companies and individual operators behind activities aimed at ...

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Oil marketers vow to shut down depots over N800b subsidy

Infrastructure critical to ending gas flaring, says Kachikwu

Oil marketers yesterday vowed to shut down depots nationwide over settlement of outstanding N800 billion subsidy debts. The marketers, comprising of Depot and Petroleum Products Marketers Association (DAPPMA) and Independent Petroleum Products Importers (IPPIs), said failure to meet the deadline ...

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New Crude Lifting Regime: Again, NNPC Sidelines Indigenous Shipping Firms

New Crude Lifting Regime: Again, NNPC Sidelines Indigenous Shipping Firms

Maritime Editors demand N150m Tramadol bribe identity disclosure from Customs Post-pones 20thanniversary lecture         Despite the introduction of NIDAS Shipping Services, into the international shipment of crude oil and petroleum products, which was expected to usher in indigenous participation in the ...

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Blue Economy: African Maritime Veterans Converge

Determined to ensure Africa maximizes the inherent maritime potentials in the region, notable maritime bigwigs converged for two separate summits in Kenya, last week to deliberate on crucial shipping issues. Enjoy the photos:

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Tramadol: Managing The Ravaging Menace Of Drug Abuse

Tramadol: Managing The Ravaging Menace Of Drug Abuse

“Addiction is a tough illness, and recovery from it is a hard but noble path. Men and women who walk that path deserve our support, encouragement, and admiration” – Sheldon Whitehouse As the Nigeria Customs Service (NCS) reported seizures of fifty-three containers ...

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Expectations Swell As Shippers’ Council Nears Transmutation Into NTC

Expectations Swell As Shippers’ Council Nears Transmutation Into NTC

By Kenneth Jukpor Many challenges responsible for the stark economic underdevelopment quagmire that defines Nigeria’s economy can be linked to the uncoordinated and unregulated state of the transport industry. The mismanagement of the sector has been obvious in the disjointed ...

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NSC Holds 2018 Stakeholders’ Appreciation Night This Week

NSC Holds 2018 Stakeholders’ Appreciation Night This Week

The annual Stakeholders’ Appreciation Night organized by the Nigerian Shippers’ Council (NSC) comes up on Thursday, December 6th at Lagos Continental Hotel, Victoria Island, Lagos at 5pm. This year’s edition is expected to be chaired by the President, Manufacturers Association ...

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