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NIMASA To Enforce 0.5% Sulphur Limit On Bunker Fuel

NIMASA To Enforce 0.5% Sulphur Limit On Bunker Fuel

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside has stated that the Agency will enforce strict compliance to the International Maritime Organization regulation which puts a maximum of 0.5%  sulphur cap  on all ...

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Nigeria Imports 1.2m Vehicle in Six Years

Nigeria Imports 1.2m Vehicle in Six Years

The Nigerian economy received a total of 1,216,131 used and new vehicles that were imported into the country between 2012 to 2017, a report by the National Bureau of Statistics (NBS) has revealed. The National Bureau of Statistics in a ...

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Banks Lose N12.06bn to Fraud in Six Months, Says CBN

Banks Lose N12.06bn to Fraud in Six Months, Says CBN

The Central Bank of Nigeria (CBN) has revealed that commercial banks in the country lost a total of N12.06 billion to fraud and forgeries in the first six months of 2018. This is just as the banking sector regulator revealed ...

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NNPC Shores up Fuel Supply with BP Oil Deal

NNPC Shores up Fuel Supply with BP Oil Deal

Petrobras to sell stake in Nigerian venture for $1.5bn Ejiofor Alike in Lagos and Chineme Okafor in Abuja with agency reports The Nigerian National Petroleum Corporation (NNPC) Thursday said it had signed a six-month crude-for-product deal with BP Oil International ...

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Capital Outflows Force Nigeria’s External Reserves Down to $41.995bn

Capital Outflows Force Nigeria’s External Reserves Down to $41.995bn

Nigeria’s external reserves fell to $41.995 billion at the end of October, representing a decline by $5.793 billion or 12.12 per cent, compared with the $47.788 billion it was as at the end of June, 2018, data compiled from the ...

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NPA boss advocates enhanced cargo clearance framework

NPA boss advocates enhanced cargo clearance framework

The Managing Director of the Nigerian Ports Authority (NPA), Hadiza Bala Usman, has advocated an African framework, targeted at enhancing the conveyance of cargoes, and the quality of logistics in a more predictable manner. Usman, who opined that such a ...

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FEC approves leather policy to enhance indigenous technology

FEC approves leather policy to enhance indigenous technology

The Federal Executive Council (FEC) has approved a national leather policy for the country. Minister of Science and Technology, Ogbonnaya Onu, who disclosed this after the Council’s meeting presided over by President Muhammadu Buhari at the Presidential Villa, Abuja, said ...

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FG begins new TSA tariff regime today

FG begins new TSA tariff regime today

Effective today, November 1, the Federal Government will begin a new service charge through the Treasury Single Account (TSA) on all payments to its ministries, departments and agencies (MDAs). The charges would be borne by the payer. Office of the ...

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Dangote to address dirty fuels issue with Euro V

Dangote to address dirty fuels issue with Euro V

Dangote Oil Refinery Company (DORC) says the 650,000 barrels per day refinery has been designed to process a variety of light and medium grades of crude and produce extremely clean fuels that meet Euro V specification. Nigeria has remained a ...

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NNPC Subsidiary ‘NIDAS’ Re-enters Global Crude Affreightment

NNPC Subsidiary 'NIDAS' Re-enters Global Crude Affreightment

Seven years after falling out of reckoning in the global oil freighting trade, the Nigerian National Petroleum Corporation (NNPC), on Tuesday, announced the re-entry of its subsidiary, NIDAS Shipping Services, into the international shipment of crude oil and petroleum products. ...

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NASS Resolves To Pass PIGB In 8th Assembly

NASS Maintains Resolve To Pass PIGB In 8th Assembly

…Concludes Plans To Send Bill Back To Buhari By Kenneth Jukpor As part of efforts to fast track the passage of the Petroleum Industry Governance Bill (PIGB) the Chairman, House of Representatives Committee on Petroleum Resources (Downstream), Joseph Akinlaja, has ...

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New shipping regulation may push fuel cost to $70b yearly

New shipping regulation may push fuel cost to $70b yearly

Concerns are rife that the new shipping policy of the International Maritime Organisation (IMO) will spike the cost of fuelling ships to about $70 billion yearly. The 2020 sulphur regulation, which will ban ships from using any marine fuel with ...

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‘Executive Order has no impact on seaports’

‘Executive Order has no impact on seaports’

The Chairman, Seaports Terminal Operators Association of Nigeria (STOAN), Princess Vicky Haastrup, has said the Presidential Executive Order on Ease of Doing Business at the ports has not yielded meaningful results, as agencies continue to frustrate businesses at the nation’s ...

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Standard Chartered hosts mortgage fair

Standard Chartered hosts mortgage fair

Standard Chartered Bank Nigeria Limited hosted clients and members of the public to a first of its kind mortgage fair in Nigeria, which brought together key stakeholders across the country within the real estate and property development sector. The event, ...

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We’re being forced to reduce generation – Power firms

NLNG, Shell, Mobil Partner To Provide Electricity In Bonny

Electricity generation companies in the country have said their power plants are being forced to operate below their optimal capacity levels. The nation’s total power generation has been hovering between 3,000 megawatts and 3,500MW in recent months. It stood at ...

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Warri airport owing N566.4m, NAMA insist

Warri airport owing N566.4m, NAMA insist

The resumption of flights at Osubi Airport in Warri, Delta State notwithstanding, the Nigerian Airspace Management Agency (NAMA) yesterday insisted that the operator owing N566.4 million. Though it confirmed a receipt of N31 million recently from Shoreline Oil Services, the ...

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Two modular refineries for inauguration in Niger Delta December

Kachikwu: Nigeria’s Oil Output Hits 2.2mbpd Early 2019

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, at the weekend said two modular refineries would be commissioned in Delta and Rivers states in December. Speaking at the 2018 graduation of the Petroleum Training Institute (PTI) Effurun, he ...

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FG Unveils Standard Operating Procedures For Trucks

FG Unveils Standard Operating Procedures For Trucks

*NARTO  kicks , RTEAN,  AMATO  keep mum *Port  terminals may be shut down  over charges Standard operating  procedures for  the haulage industry have been unveiled to truck owners, drivers and companies as well as members of the organized private sector ...

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Lagos Port Congestion: The Bangs & Benefits Of Barges

Lagos Port Congestion: The Bangs & Benefits Of Barges

With the roads leading to the nation’s major ports in Tin Can Island and Apapa almost impassable, the prospects of moving empty containers from holding bays to ports via barges has become the only viable option to get the containers ...

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Bears: Death Knocks!

BEARS: MASS INACTION!!!

Death knocked on the doors of the amiable Head of Corporate Communications at the Nigerian Maritime Administration and Safety Agency (NIMASA) Mr. Isichei Osamgbi, snatching his beautiful mother; Mrs. Dorothy Ndukoso Osamgbi (Nee Eluemunor). Dorothy was a devout Catholic, a ...

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