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

Sell pressure propels bearish sentiment as investors lose N261b

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

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

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

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

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

Stock market index depreciates by 0.3% on renewed profit taking

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

How To Learn The ABC Of Shipping And Ports Operations In Nigeria- Okorefe

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

Crisis rocks ANCLA as new group emerges

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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85% of N8.3 trillion pension fund spent on government T-bills, bonds

85% of N8.3 trillion pension fund spent on government T-bills, bonds

•Lack of right investment instruments is a challenge The largest pool of domestic capital in the country is the N8.3 trillion sitting in Nigeria’s pension fund, with 85 per cent of the fund primarily financing the government through buying bonds ...

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Non-oil sector grows Nigeria’s GDP to 1.8%, says NBS

Non-oil sector grows Nigeria’s GDP to 1.8%, says NBS

Data from the National Bureau of Statistics (NBS) has shown that Nigeria’s Gross Domestic Product (GDP) grew to 1.81 per cent (year-on-year) in real terms in the third quarter of 2018, driven mainly by the non-oil sector, which contributed 90.62 ...

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CBN decries non-performing N500b export stimulation fund

2019: CBN To Raise N1.8tn From Treasury Bills Sale Q1

Sets up committee to address bottlenecks  The Central Bank of Nigeria (CBN) has condemned the non-accessibility of the N500 billion export stimulation fund set up basically for the promotion of non-oil exports in the country. As such, the CBN has ...

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Faltering oil prices set naira, budget on risky path

Faltering oil prices set naira, budget on risky path

Faltering crude oil prices have put the nation’s local currency, the 2018 budget implementation and the fragile economic growth on a crisis path. Already, the near-convergence of all rates at N360/$, except the official exchange rate of the Central Bank ...

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Ship Owners, Terminal Operators Declare Nigeria’s Waterways Unsafe

Ship Owners, Terminal Operators Declare Nigeria’s Waterways Unsafe

·Pirates, problem of Eastern ports-BUA · NIMASA must justify sea protection levy collection –  Capt. Iheanacho By Kenneth Jukpor Nigerian territorial waters have become safe haven for pirates with the highest number of pirate incidents, despite the award of the security ...

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Nigerian Judiciary And The Pangs Of Violent Crimes

Nigerian Judiciary And The Pangs Of Violent Crimes

As the Nigerian Bar Association (“NBA”) published a press release lamenting the death of three of its members within the last fortnight in very tragic circumstances. It has become important to underscore the palpable and pervasive state of insecurity in ...

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