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NLNG makes direct gas delivery to PH

NLNG makes direct gas delivery to PH

The Nigerian Liquefied Natural Gas Limited has expressed its commitment towards providing cleaner fuel for Nigerians and globally. The NLNG Managing Director, Tony Attah, spoke on Tuesday when the company delivered its maiden domestic liquefied petroleum gas cargo from Bonny ...

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Total to sell stake in Nigerian oil block

Total to sell stake in Nigerian oil block

Total Group is seeking to sell its 12.5 per cent stake in a major deepwater oilfield off the coast of Nigeria, industry and banking sources said, in an effort to adjust the energy company’s Africa portfolio amid a broad expansion. ...

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Stakeholders protest rising demurrages, seaport charges

Stakeholders protest rising demurrages, seaport charges

Freight forwarders and key stakeholders in the shipping industry under the aegis of Concerned Freight Forwarders and Transporters have frowned on the rising demurrage charges and other alleged arbitrary charges imposed by shipping companies and terminal operators at the nation’s ...

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Lagos ports risk congestion as borders remain closed

Lagos ports risk congestion as borders remain closed

The AP Moeller Terminals has called attention to the rising volume of cargoes resulting from improvement in business transactions at the seaports and partly from the recent border closure. A statement from the concessionaire indicated that the success of implementation ...

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SEC kicks against single-asset class investment

SEC kicks against single-asset class investment

The Securities and Exchange Commission has kicked against investment in a single-asset class in the capital market. The acting Director-General, SEC, Ms Mary Uduk, while speaking at a one-day enlightenment programme for the Nigerian Army Ordinance School, Ojo Cantonment, Lagos, ...

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FG to train youths in ship building

FG to train youths in ship building

The Federal Government on Wednesday said it would partner Concept Amadeus Limited to train Nigerian youths in the manufacturing of ship and vessel, saying that it was part of the nation’s efforts to create jobs for the people. A statement ...

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NNPC saves over $3bn from arbitration

NNPC saves over $3bn from arbitration

The Nigerian National Petroleum Corporation has saved over $3bn from arbitration, the oil firm’s Group Managing Director, Mele Kyari, announced on Tuesday in Abuja. Kyari disclosed this when he engaged workers of the corporation in a town hall meeting that ...

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Non-oil will fetch 80% of Nigeria’s revenue — Fowler

Non-oil will fetch 80% of Nigeria’s revenue — Fowler

The Executive Chairman, Federal Inland Revenue Service, Mr Babatunde Fowler, has said that Nigeria will earn at least 80 per cent of its revenues from the non-oil sector in the next three years. According to a statement from the FIRS ...

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Telecom firms get five days to stop illegal deductions

The Minister of Communications and Digital Economy, Dr Isa Pantami, has ordered the Nigerian Communications Commission to implement a directive on the reduction of the cost of data in the country. The NCC was equally ordered to enforce an earlier ...

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Licence cancellation: FG gives Discos December 7 deadline

Licence cancellation: FG gives Discos December 7 deadline

Power distribution companies have till December 7 to submit their written responses providing reasons why their licences should not be cancelled, the Nigerian Electricity Regulatory Commission declared on Tuesday. In an updated document on the notice of hearing on the ...

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AIB Commences Investigation On Air Peace Incident

AIB Commences Investigation On Air Peace Incident

The Accident Investigation Bereau (AIB) has commenced investigation following a serious incident involving a Boeing 737-500 aircraft operated by Air Peace, with registration marks, 5N-BUJ. This was disclosed by the General Manager, Public Affairs, Mr Tunji Oketunbi in a statement. ...

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Buhari blames politicians, oil firms for tax losses

Buhari blames politicians, oil firms for tax losses

President Muhammadu Buhari has blamed politicians and oil companies for conspiring to deny Nigeria commensurate revenue from oil production and sales, particularly taxes over the years. He said this on Monday after signing the amended Deep Offshore Act in London, ...

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Shipowners want 12.5% tariff on new vessels suspended

Shipowners want 12.5% tariff on new vessels suspended

Shipowners have called for the suspension of duty on new vessels acquired by Nigerians. The President, Nigeria Shipowners Association, Aminu Umar, stated this in an interview with journalists in Lagos. He regretted that the situation had contributed to the reluctance ...

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Russia to revive NIOMCO before completing Ajaokuta Steel

Russia to revive NIOMCO before completing Ajaokuta Steel

The revival of the National Iron Ore Mining Company, Itakpe, has been included in the deal signed between the Federal Government and Russia for the completion and operation of Ajaokuta Steel Company Limited. The Minister of Mines and Steel Development, ...

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Dangote Sugar, Savannah Sugar plan merger

Dangote Sugar, Savannah Sugar plan merger

Dangote Sugar Refinery Plc has revealed plans of its merger with Savannah Sugar Company Limited. Dangote Sugar said in a statement on Monday that its board of directors recommended the business combination through a scheme of external restructuring, which would ...

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Debt servicing gulped $1.09bn in nine months – CBN

Debt servicing gulped $1.09bn in nine months – CBN

Nigeria spent $1.09bn on debt servicing between January and September this year, a new report by the Central Bank of Nigeria has indicated. The international payment data by the CBN showed that debt servicing gulped a total of $1.28bn in ...

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NNPC to build two new refineries

NNPC to build two new refineries

The Nigerian National Petroleum Corporation has said it is in the process of establishing two new 200,000 barrels-per-day condensate refineries to boost in-country refining capacity. Unlike the conventional refineries, condensate refineries primarily refine condensate, not crude oil. They often produce ...

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Ship Owners Urged To Embrace On Shore BWTS

Security contract: Ocean Marine threatens to sue NPA

By Okuneye Moyosola Experts have encouraged ship operators to embrace on shore ballast water treatment systems (BWTS) to reduce it’s effect on water bodies. A lecturer at  World Maritime University, Dr Lawrence kurushi said this while delivering a speech at ...

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SIFAX Boss Tasks African Businesses To Have Global Focus

SIFAX Boss Tasks African Businesses To Have Global Focus

The Group Managing Director, SIFAX Group, Mr. Adekunle Oyinloye, has urged businesses on the African continent to dream big, go global and take advantage of emerging opportunities on the international scene. The SIFAX boss stress that this drive would transform ...

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CBN to recover N36bn loans from North-East farmers

CBN to recover N36bn loans from North-East farmers

The Central Bank of Nigeria has inaugurated a committee in all local governments in the North-East to recover N36bn loans advanced to farmers. The loan facility advanced to the farmers through the North-East Commodity Association is part of the Anchor ...

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