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Author Archives: mms plus

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Ajaokuta Steel, foreigners owe power sector N12.2 billion

Ajaokuta Steel, foreigners owe power sector N12.2 billion

The Ajaokuta Steel Company and other international customers owe the power sector N12.2b, according to the 2018 first quarter report of the Nigerian Electricity Regulatory Corporation (NERC). NERC disclosed yesterday that in the period under review, invoices issued to foreign ...

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Maritime Stakeholders Brainstorm At NIMPORT Conference

Key stakeholders from in the nation’s port sector gathered at the 2018 edition of the annual Nigeria International Maritime Ports and Terminals Conference and Expo (NIMPORT) which held in Lagos last week. MMS Plus lens was there to fetch you ...

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Nigeria’s Exposure to Commercial Loans Rises by $7.3bn in 3 Years

Nigeria’s Exposure to Commercial Loans Rises by $7.3bn in 3 Years

Nigeria’s exposure to commercial foreign loans rose by $7.3 billion or 486.67 per cent in the last three years, data from the Debt Management Office (NBS) has shown. From $1.5 billion as at June 30, 2015, commercial loans stood at ...

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MPC Member Warns of Excess Banking Sector Liquidity

MPC Member Warns of Excess Banking Sector Liquidity

A member of the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC), Dr. Mahmoud Isa-Dutse, has warned that the Nigerian banking system continues to harbour excessive liquidity with industry liquidity ratio far above the prescribed requirement. Specifically, Isa-Dutse put ...

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Nigeria-China Trade Now $7.2 Billion, Says Envoy

Nigeria-China Trade Now $7.2 Billion, Says Envoy

The China Commercial Consular to Nigeria, Mr. Hongliang Gao, has put the present value of trade between Nigeria and China at $7.2 billion, making China the third largest trading partner with Nigeria. However, with the increased interest in investments and ...

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Caring Caroline

Caring Caroline

Mrs. Caroline Anyanwu is the Deputy Managing Director and Chief Risk Officer of Diamond Bank. She served as Chief Risk Officer in the bank before her appointment by the Central Bank of Nigeria (CBN) as an Executive Director Risk Management ...

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Nigeria may lose $80m World Bank job creation grant

BEARS: Adeosun - Sacked or Resigned?

There were indications on Tuesday that Nigeria might lose more than $80m in World Bank funding meant for strengthening the capacity of the country’s Small and Medium-scale Enterprises to create jobs. Media investigation showed that squabbles and lack of cohesion ...

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SIFAX boss explains investment in The Gambia

SIFAX boss explains investment in The Gambia

Group Executive Vice Chairman, SIFAX Group, Dr. Taiwo Afolabi, has explained that the desire to contribute meaningfully to the rebranding of The Gambian economy is pushing the group’s investment in the West African country. The SIFAX Group boss made this ...

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Stock index rises 0.3% amid renewed bargain hunting

Stock index rises 0.3% amid renewed bargain hunting

Following renewed bargain hunting embarked upon by stock market investors, transactions on the equity sector of the Nigerian Stock Exchange (NSE), closed upbeat yesterday, as the All-share index rose marginally by 0.3 per cent. Specifically, at the close of transactions ...

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Nigerian ports record increase in cargo throughput, as ship traffic drops

Nigerian ports record increase in cargo throughput, as ship traffic drops

Nigerian ports are currently experiencing dwindling fortunes, and recorded about 8.6 per cent increase in cargo throughput, while ship traffic slides 2.3 per cent and container traffic decreased by 7.1 per cent in the first quarter(Q1) of 2018 against the ...

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NNPC, Chinese consortia sign pacts on biofuel development

NNPC, Chinese consortia sign pacts on biofuel development

The Nigerian National Petroleum Corporation (NNPC) has signed memoranda of understanding (MoUs) with Chinese consortia to develop sustainable biofuels in the country. At a ceremony yesterday in Beijing on the sidelines of the Forum for China-Africa Cooperation (FOCAC) Summit, the ...

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How MTN, four banks perpetrated $8.13 illegal deal, by CBN

How MTN, four banks perpetrated $8.13 illegal deal, by CBN

The Central Bank of Nigeria (CBN), yesterday, gave details of how MTN Nigeria Limited and four banks perpetrated the $8.13 billion illegal transactions, using false information and deliberate disregard for the rules. The details, which were contained in a CBN’s ...

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Customs intercepts N1.5bn petrol set for Benin Republic through Ogun creek

Freight Forwarders Urged To Instigate Mechanisms Protecting Customs And Importers

The Nigerian Customs Service, Federal Operations Unit, (FOU), Zone ‘A’ Ikeja at the weekend intercepted N1.5 billion worth of petroleum products on the verge of being smuggled to Benin Republic. The petroleum products, loaded in about 12 wooden speedboats, had ...

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Navy Deploys 16 Warships to Critical Oil Installations in N’Delta, W’Africa

Navy Deploys 16 Warships to Critical Oil Installations in N’Delta, W’Africa

The Nigerian Navy yesterday inaugurated 16 newly acquired warships and boats, and immediately deployed them to safeguard key oil installations in the oil rich Niger Delta region and the West African maritime domain. The deployment was to further solidify the ...

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EU Commits €138m to Fund Development in Lake Chad Region

EU Commits €138m to Fund Development in Lake Chad Region

Donor countries pledge $2bn The European Union yesterday announced the release of the sum of €138 million to assist vulnerable communities in Nigeria, Niger, Chad and Cameroon, saying the condition of people in the region has continued to get worse ...

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Nigeria, Volkswagen Sign Pact to Develop Automotive Industry

Nigeria, Volkswagen Sign Pact to Develop Automotive Industry

In a landmark development that will revive the automotive industry, the Minister of Industry, Trade and Investment, Dr. Okey Enelamah, has signed a Memorandum of Understanding (MoU) with the Volkswagen Group to develop a joint vision for an automotive hub ...

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2019 Elections: Amaechi Kills Dakuku’s Dream, May Spark Crisis In NIMASA

Peterside: Regional Collaboration Key to Africa’s Maritime Sector Devt.

· Tonye Cole tipped to face Magnus Abe · NIMASA Executive Director Launches Book On Maritime Assets In a surprise move on Thursday last week, the Minister of Transportation, Rt. Hon. Rotimi Amaechi dropped the Director-General of Nigerian Maritime Administration ...

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Developing Apt Policies And Human Capacity To Transform Nigerian Ports

Developing Apt Policies And Human Capacity To Transform Nigerian Ports

By Kenneth Jukpor While Nigerian ports have suffered numerous challenges ranging from infrastructure deficits to negligence and corruption among the industry players, the future of the sector is mostly threatened by dearth in human capacity to inject the requisite innovation ...

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Truckers Demise: Nigeria’s Port System Collapse

Truckers Demise: Nigeria’s Port System Collapse

By Kenneth Jukpor In recent times, it has become saddening that the nation records one fatal casualty after another with tanker and truck drivers. The norm had been casualties on Nigerian roads as a result of over-loading, over-speeding, carrying of ...

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How To Run A Lobster Farm For Export

How To Run A Lobster Farm For Export

LOBSTER FARMING Commercial lobster farming is becoming very popular day by day and it’s a very profitable business. Among all the highly-priced marine crustacean, lobsters are larger in size. A mature lobster weights between 250 to 400 grams. Lobster farming ...

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