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Naira Tumbles To 980/dollar, FX Shortage Worsens

Naira may fall to N900/$ from demand pressure – Report

The naira continued its downward trend after exchanging to the dollar at 980/$ at the parallel market on Wednesday. A week earlier, the naira exchanged to the dollar at 950/$. Bureau de Change operators who spoke to The PUNCH attributed …

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Oyo/Osun Customs Generate N47bn In Nine Months

Yuletide: NCS record N1bn seizures

The Oyo/Osun Area Command of the Nigeria Customs Service has said that it collected N47.4bn revenue between January and September. According to a statement issued by the command’s Public Relations Officer, Kayode Wey, on Tuesday, the outgoing Customs Area Comptroller …

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FG Earned N4.3tn From Oil In 2021 – Report

NCDMB Boss Commissions PETAN Secretariat In Port Harcourt

Simbi The Federal Government raked in N4.3tn from the oil and gas in 2021, according to the Nigerian Extractive Industries Transparency Initiative. This was revealed in NEITI’s ‘Oil and Gas Industry Report for 2021’. According to the report, this represents …

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Foreign Airlines’ Trapped Funds Hit $783m — IATA

IATA warns Nigeria as airlines trapped funds hit $802m

The International Air Transport Association has said that as of August 2023, Nigeria accounts for $783m of airlines’ blocked funds. This was contained in a statement by the trade association which said that the IATA’s Regional Vice-President for Africa and …

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Dangote Refinery Imports Crude As NNPCL Swaps Oil For Loans

Dangote refinery: Marketers differ on NNPC proposed stake acquisition

Dangote Refinery •Dangote expects crude from NNPCL November, begins operations October •$3bn crude-for-loan deals, others put pressure on local supply The Dangote Petroleum Refinery is currently importing crude oil and expects its first crude cargo in two weeks’ time, the …

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Aviation College Spends N5bn To Maintain Redundant Helicopters – Rector

Pilots back NCAT tuition hike

The Nigeria College of Aviation Technology, Zaria has revealed that it spent N5bn on the maintenance of two redundant helicopters for about 10 years. Rector of NCAT, Captain Akali Modibo, who made this disclosure while fielding questions from the media …

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Again, Nigeria’s Power Grid Collapses, Electricity Supply Drops to 42.7MW

Nigeria’s national grid collapsed once more on Tuesday when power generation crashed from a peak of 3,594.60 megawatts at midnight to an alarming low of 42.7MW by midday. Subsequently, at noon, only the Delta Power plant was operational on the …

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Peter Obi Files 50 Grounds Of Appeal Against Tribunal’s Judgment

The presidential candidate of the Labour Party, Peter Obi, has appealed against the tribunal judgement which upheld the victory of President Bola Tinubu. Obi in a 50 grounds notice of appeal by his lead counsel, Dr. Livy Uzoukwu, SAN, challenged …

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ECONOMY: Nigeria’s Escalating Debt Levels Hit N87.4trn 

ECONOMY: PFAs Comply with N5 Billion Minimum Regulatory Capital Requirement…

as FG’s Heavy Borrowings Stagger Increasingly…. A look into the current debt report published by the Debt Management Office (DMO) and the National Bureau of Statistics, Nigeria’s total public debt, as of the second quarter of 2023, has surged to …

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Adroit Adesuwa

Ms Adesuwa Ladoja is the Executive Director of Lekki Deep Sea Port. She has been for over a decade. She previously served as the Legal Counsel and later as Chief Relationship Officer, overseeing the critical task of managing the company’s relationship …

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Nogistic Ngozi

Dr. Ngozi Okpara, PhD, is the Dean of the School of Media Communications at the Pan-Atlantic University, Lagos, Nigeria. An associate professor who teaches professional ethics in media and communications, media, the human person and society, and human communication theory and …

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Customs To Extend Operations Beyond Seme — Comptroller

Customs seek synergy in blocking revenue leakages

The Seme Area Command of the Nigeria Customs Service said its operations will soon extend beyond the Seme Border into the Benin Republic and vice versa. It said this following the recent bilateral agreement between the Nigeria Customs Service and …

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Nigeria Servicing 108 W’Bank Loans Worth $14bn – Report

World Bank Downgrades Nigeria’s 2023 GDP Growth to 2.8%

Nigeria is currently servicing about $14.12bn worth of World Bank loans, according to report by media. The figure covered the amount disbursed on about 108 approved loans based on data obtained by our correspondent from the website of the World Bank. …

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FG Opens Old MMA Terminal To Ease Flight Disruptions

Airlines lose over N400 million to MMA2 closure

Murtala Muhammed International Airport The Federal Government has officially reopened the D Wing of the old international terminal at the Murtala Muhammed International Airport, Lagos. The government aimed to alleviate flight disruptions and improve the overall efficiency of air travel. …

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NNPCL Fails To Remit $6.9 Billion, Swaps $7.1 Billion Worth Of Crude In One Year

NNPCL subsidiary rakes in N256bn revenue – Report

Mele Kyari Nigerian National Petroleum Company Limited (NNPCL) failed to remit $6.923 billion and swapped about $7.108 billion of crude under its Direct Sale Direct Purchase (DSDP) scheme in 2021, despite borrowing spree of the Muhammadu Buhari administration, amid dwindling …

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The Amazon, Bows Out In Honour

After 35 years of meritorious service, Mrs Bola Olotu bowed out of the Nigerian Ports Authority, NPA, staging a deserving retirement party with stakeholders and family members in attendance. Before her recall to the head office as an Assistant General …

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Confluence Logistics Trains capacity For Maritime Sector

Confluence Logistics and Transport Consults organized two days training on Understanding Collaboration and Synergy in Seaports last week with participants coming from both public and private sectors. It gave a model of what is expected in the new Marine and …

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Maritime Agencies List Conditions For Blue Economy Success

*Identify overlapping functions amongst agencies as hurdle  *NPA: We now have zero percent waiting time for vessels Maritime agencies  very key to the realization of the blue economy initiative of the Federal Government have unanimously agreed that  holistic reforms in the sector …

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Trans-border Trade Barriers: Why Agencies Should Purge Themselves

Why FG Reopened Land Borders -Investigations

Over 400  obstacles to trans-border  trade have been reported through the Trade Obstacles Alert Mechanism(TOAM) and they comprised lengthy clearing terms, transit checkpoints with unwarranted delays, harassment, exorbitant illegal fees, and demands for bribes, with far-reaching consequences. It is certain however that …

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Unveiling Aniebonam @65: He Was Not Born

Compt. Dera Nnadi, CAC, TinCan Island Port Customs Command and Dr. Boniface Aniebonam Existential realism has posited that there are two types of human creations-those Born on one hand and those Designed on the other hand. These creations are found across the known formal …

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