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Author Archives: mms plus

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NPA Sympathizes With Victims Of Calabar Fire Outbreak

NPA Board Approves New Structure

 The management of the Nigerian Ports Authority (NPA) has commiserated with the Cross Rivers State Government and families of people who lost their lives in the recent fire incident which occurred at the Line Oil and Gas tank farm located ...

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Labour ministry, NSE to partner on workplace inspection

Labour ministry, NSE to partner on workplace inspection

The Ministry of Labour and Employment has expressed interest in working with the Nigerian Society of Engineers on the inspection of workplaces across the country. The Minister of Labour and Employment, Senator Chris Ngige, made this known during a working ...

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FG designs performance system for civil servants

FG designs performance system for civil servants

The Federal Government has designed a performance management system for its workers for effective service delivery. The initiative, which aims to entrench accountability for resource utilisation and results delivered, is driven by the office of the Head of Service of ...

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Comply with VAIDS or face sanctions, SEC warns players

Comply with VAIDS or face sanctions, SEC warns players

The Securities and Exchange Commission has warned all capital market operators and public liability companies to comply with the Voluntary Assets and Income Declaration Scheme (latest March 31, 2018) or get sanctioned. The commission urged them to comply with the ...

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Agriculture, entrepreneurship’ll create jobs in Africa, says Elumelu

Agriculture, entrepreneurship’ll create jobs in Africa, says Elumelu

The Chairman, Heirs Holdings and Founder, Tony Elumelu Foundation, Mr. Tony Elumelu, has called on African leaders and development institutions to help address the deepening job and employment crisis bedevilling the continent by lending support and paying more attention to ...

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FAAC allocates N652bn to FG, states, LGs

FG approves N2.7tn for pensioners, contractors, fuel marketers

The Federation Accounts Allocation Committee on Tuesday shared the sum of N652.2bn as statutory allocations to the three tiers of government for the month of June. The amount is made up of revenues generated from oil and non-oil sources that ...

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9mobile appoints Citi, Standard Bank to find new investors

9mobile appoints Citi, Standard Bank to find new investors

 9mobile, the mobile operator formerly known as Etisalat Nigeria, has appointed Citigroup and Standard Bank to find an investor to buy into the firm, with three companies already showing interest, a banking source close to the deal said on Tuesday. ...

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Kaduna communities record two-year uninterrupted power supply – FG

Fashola, power firms, as constituted, cannot deliver

The Federal Government on Tuesday announced that two communities in Kaduna State recently recorded two straight years of uninterrupted supply of electricity. It said the Gnami and Pakau communities enjoyed uninterrupted power from the 90-kilowatt Solar PV off-grid system installed ...

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Nigeria needs strong fiscal, monetary policies to exit recession – CBN

Nigeria needs strong fiscal, monetary policies to exit recession – CBN

 •MPC retains key rates The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday warned that the economy might relapse into protracted recession if bold monetary and fiscal policies were not activated immediately to sustain the programmes of ...

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WIMA Nigeria Celebrates Africa’s Day of Seas

The Nigeria chapter of African Women in Maritime (WIMA) marked the celebration of the African Day of the Seas and Oceans, yesterday with a sensitization walk to raise awareness about the challenges facing Nigerian seas and oceans, especially on the ...

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POF Collection: CRFFN In Murky Waters

POF Collection: CRFFN In Murky Waters

 By Kenneth Jukpor As the August 1 commencement of the collection of the Practitioners’ Operating Fee (POF) across all seaports, airports and land border stations nationwide draws nearer, there remain several question marks over the modalities for the collection, amount ...

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Nigeria agrees to 1.8mbpd oil output

Oil Prices Appreciate  Amidst Increased  Global Demand, Nigeria Instability

 Nigeria has said it will join its peers in the Organisation of Petroleum Exporting Countries and other producers in cutting production when its output reaches 1.8 million barrels per day. OPEC on Monday called on several members to ensure compliance ...

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CBN returns N51.9bn illegal deductions to bank customers

CBN returns N51.9bn illegal deductions to bank customers

 The Central Bank of Nigeria has said that it has recovered over N51.9bn illegally deducted by commercial banks and returned it to the customers. The CBN stated that the amount was illegally removed from the accounts of bank customers across ...

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Zero oil revenue days fast approaching, says Osinbajo

Zero oil revenue days fast approaching, says Osinbajo

Acting President Yemi Osinbajo on Monday declared that the days in which no single revenue would be generated from crude oil were fast approaching. Osinbajo, who spoke at the Extra-ordinary Session of the Council of Ministers of the African Petroleum ...

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Power generation falls below 3,000MW, seven plants idle

FG awards $5.8bn Mambilla power plant contract

The nation’s power generation has fallen below the 3,000 megawatts mark as the number of idle power plants increased to eight on Sunday from five on Friday. The nation’s power grid lost a total of 743.4MW over the weekend as ...

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Militants destroy Trans-Niger pipeline, Nigeria loses 150,000bpd

NNPC, IOCs Join Forces Against Oil, Gas Sabotage

 Suspected militants on Monday vandalised the Trans-Niger pipeline in Ogoniland in the Niger Delta region, reducing the Nigerian National Petroleum Corporation’s crude oil production by 150,000 barrels per day. According to the Group Managing Director, NNPC, Dr. Maikanti Baru, the ...

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TSA fund: FG serves forfeiture order on banks

FG makes N13bn from stamp duty

 The Federal Government has served seven banks with the order of the Federal High Court in Lagos directing a temporary forfeiture of $793.2m allegedly hidden with the banks in contravention of its Treasury Single Account policy. The Federal Government’s lawyer, ...

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Govt Agencies, Terminal Operators Defy Osinbajo’s Orders

Osinbajo, Governors Meet To Encourage Youths’ Involvement In Agriculture

ANLCA, NAGAFF express disappointment SON spreads confusion By Kenneth Jukpor Nigerian maritime industry stakeholders have expressed disappointment over the insincerity of some government agencies and terminal operators at complying with the Ease of Doing Business directive handed down by the Acting ...

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CBN sells TBs above inflation to attract FX flows

CBN sells TBs above inflation to attract FX flows

The Central Bank of Nigeria has offered six and 12-month Treasuries at yields higher than the country’s inflation rate to lure yield-hungry investors and attract dollar inflows. Severe dollar shortages have been a hallmark of the country’s recession, now in ...

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Why CBN can’t cut interest rate now – Emefiele

Why CBN can’t cut interest rate now – Emefiele

The Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, has said the high inflation rate and rising operating costs in the banking sector are some of the major reasons for the high interest rate in the country. He ...

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