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WIMAFRICA: Bola Muse Emerges President Of Nigerian Chapter

WIMAFRICA: Bola Muse Emerges President Of Nigerian Chapter

By Kenneth Jukpor Hajia Bolanle Idayat Muse has been elected as the new President of the Nigerian chapter of African Women in Maritime (WIMAFRICA). Bola Muse took over from Barr. (Mrs.) Jean-Chiazor Anishere who is now the Continental President of ...

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Nigeria’s LPG Consumption Grew By 600% In Two Years – FG

Experts applaud fed goverment on LPG investment promotion

The consumption of Liquefied Petroleum Gas, popularly known as cooking gas, in Nigeria, increased by 600 per cent in the past two years, the Federal Government announced on Thursday. It was also gathered that the $12m LPG plant being established ...

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We Won’t Rush Petroleum Industry Reforms – Buhari

India Now Nigeria’s Biggest Crude Oil Buyer – Buhari

President Muhammadu Buhari said on Thursday, that his administration would not rush reforms in the petroleum and gas industry, saying that reforms must be carefully thought out to serve the interests of Nigerians. Speaking specifically on the much-awaited Petroleum Industry ...

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Reps Summon Ministers, NNPC Boss Over Illegal Subsidy Payments

Reps Summon Ministers, NNPC Boss Over Illegal Subsidy Payments

The House of Representatives Joint Committee on Finance and Petroleum (Downstream), on Thursday summoned the Minister of Finance, Mrs. Zainab Ahmed and the Minister of State for Petroleum Resources, Dr Ibe Kachikwu, over funds being paid to subsidize the pump ...

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Banks’ Non-Performing Loans Rise To N2.24trn

Banks’ Non-Performing Loans Rise To N2.24trn

Nigerian bank’s non-performing loans stood at N2.245tn as of the end of September 2018, according to the National Bureau of Statistics (NBS). The NBS revealed that in the period under review, the country’s gross loans stood at N15.861tn, while loans ...

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CBN To Track, Stop Bad Debtors From Further Borrowing

CBN tweaks 32-month-old policy rate, opts for growth

The Central Bank of Nigeria is planning to introduce a new mechanism, called the Global Standing Instruction that will work with the Bank Verification Number of depositors to detect bad borrowers who refuse to pay their loans but plans to ...

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NSE admits SAHCO Plc’s N406 million offer on exchange’s daily official list

Chams, Dangote Flourmills lead in stock market’s N94 billion gain

The Nigerian Stock Exchange (NSE) has admitted 406,074,000 ordinary shares of 50 kobo each at N4.65 per share for Skyway Aviation Handling Company Limited (SAHCOL), following four years scarcity of Initial Public Offerings (IPOs) in the nation’s capital market. The ...

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‘Maritime industry has capacity to drive economy’

Managing Nigeria’s Fiscal Challenges In Shipping

With a prospect to generate over $8 billion yearly, the maritime sector has the resources to propel the desired growth in the nation’s economy, stakeholders have said. To fully optimise the industry capacity, they stressed the need for the Federal ...

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Nigeria’s First Gold Refinery To Be Completed June 2019

FG lays foundation of gold refinery in Ogun

The Federal Government yesterday laid the foundation of the first gold refinery in Mowe, Ogun State, to enhance the country’s sustainable economic growth. A Nigerian firm, Kian Smith Trade & Co Limited, on Thursday broke ground on the nation’s first ...

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Nigeria files $1b suit against Shell, Eni in UK

Government takes over oil well from Shell, Ogoni people kick

The Federal Government yesterday filed a $1.1 billion lawsuit against Royal Dutch Shell and Eni at a commercial court in London, United Kingdom in connection with a 2011 oilfield deal. The OPL 245 facility is also at the heart of ...

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NPA MD Urges Fire Officers On Professionalism

The Managing Director of Nigerian Ports Authority, Hadiza Bala-Usman has admonished officers in the Fire Service Department of the Authority to rededicate themselves to the vision, mission and core values of the Authority by displaying professional ability and agility and ...

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Senate Passes Bill for Establishment of South East Development Commission

Senate Passes Bill for Establishment of South East Development Commission

Okays six-man NDIC board Wants Kaduna airport named after Abba Kyari The Senate Wednesday passed the Bill for the establishment of South East Development Commission as a catalyst to develop the commercial potentials of the geo-political zone. The upper chamber ...

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African airlines to lose $300m in 2019, says IATA

Airlines recorded slow traffic growth in February

International Air Transport Association (IATA) has predicted a $300 million net loss for African carriers next year.According to the Geneva-based apex aviation body, this is a slight improvement from the $400 million net loss recorded by airlines in the region ...

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Stock market index depreciates by 0.3% on renewed profit taking

2018 earnings season buoys stocks’ trading as index rises by 0.3%

Trading on the equity sector of the Nigerian Stock Exchange (NSE) closed on a downturn yesterday, following renewed profit taking, causing the All-share index to plummet by 0.3 per cent. Yesterday, the All- share index (ASI) was down by 76.37 ...

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ILGL, Quanta seal pact on blockchain investments 

ILGL, Quanta seal pact on blockchain investments 

Nigeria’s Petroleum Technology Development Fund (PTDF), has said it would leverage existing in-country capacity available at the Nigerian National Petroleum Corporation (NNPC), and Nigerian Content Development Monitoring Board (NCDMB), to address the challenges of research in the nation’s oil sector. Speaking at a ...

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Maiden IATF begins with calls for pro-Africa integration talks

Maiden IATF begins with calls for pro-Africa integration talks

•Afreximbank, Obasanjo, Egypt seek ratification of AfCFTA The first-ever Intra-African Trade Fair (IATF) on the continent has kicked off in Cairo, Egypt, with the African Export-Import Bank (Afreximbank) leading calls for the implementation of initiatives that will add meaning to ...

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Experts sue for full implementation of trade facilitation agreement

Ship Financing: Stakeholders Lament Colossal Interest Rates

To spur favorable competitiveness in international trade, experts in the logistics supply chain have stressed the need for Nigeria to implement the provisions of the Trade Facilitation Agreement (TFA) when it comes into force. They argued that since Nigeria has ...

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Crisis rocks ANCLA as new group emerges

BEARS: Noisy ANLCA

The lingering crisis rocking the Association of Nigeria Licensed Customs Agents (ANLCA), has led to the birthed a new group, which emerged, from nine chapters under the Western Zone of the association. The new faction, headed by its Western Zonal ...

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Local sourcing suffers setback on renewed importation, economic slowdown

Local sourcing suffers setback on renewed importation, economic slowdown

Efforts to by the Central Bank of Nigeria (CBN), to encourage manufacturers to explore local raw materials for production by placing restriction on 42 items and related by-products from the foreign exchange market, may have witnessed a slowdown as a ...

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‘Protection for merchant shipping will boost international trade’

‘Protection for merchant shipping will boost international trade’

Stakeholders in the maritime industry have stated that the successes recorded by the Nigerian Navy (NN) in the fight against piracy, sea robbery and other illegalities in Nigerian waters in recent times would help to boost international trade in the ...

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