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Yearly Archives: 2019

Petrol subsidy rises by N58.6bn in one month

NNPC says top fresh management appointments based on merit

The amount spent on fuel subsidy by the Nigerian National Petroleum Corporation increased by N58.6bn within one month, the latest figures released by the corporation on its financial report for July 2019 has shown. According to the report, obtained on ...

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FG extends Enugu airport repairs completion date

Aviation workers seek four-month extension of agencies hqs relocation

The Federal Government has extended the date for the completion of the repair work on the Akanu Ibiam International Airport, Enugu State, from December 2019 to April 2020. The Minister of Aviation, Senator Hadi Sirika, made this known in Abuja ...

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Gas flaring: FEC approves conversion of natural gas to methanol

FG shortlists 200 investors for gas flare sites

The Federal Executive Council has approved the conversion of natural gas to methanol in order to address the environmental challenge caused by gas flaring in the country. The Minister of Science and Technology, Dr Ogbonnaya Onu, briefed State House correspondents ...

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FG’s October bonds oversubscribed by N105bn

Nigerian Treasury Bills Oversubscribed - N132bn

The Federal Government’s bonds for the month of October worth N150bn, which were auctioned on Wednesday, were oversubscribed by N105.99bn, the Debt Management Office disclosed this on its website. The total subscription received from investors for the bonds was N255.99bn, ...

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Buhari appoints Capt. Nuhu as NCAA DG

Addessing Flaws In Nigerian Aviation Laws

President Muhammadu Buhari has approved the appointment of Capt. Musa Nuhu as the new Director-General of the Nigerian Civil Aviation Authority. According to a statement issued in Abuja on Wednesday by the Director, Public Affairs, Federal Ministry of Aviation, James ...

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NNPC engages Russian firms to repair refineries

FG refineries suffer N19bn loss in two months

The Nigerian National Petroleum Corporation has engaged Russian firms and the state company to rehabilitate Nigeria’s four refineries. The NNPC’s Group Managing Director, Mele Kyari, who disclosed this in a message he retweeted on Wednesday, also stated that gas infrastructure ...

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Lekki seaport project gets $629m Chinese loan

Lekki seaport project gets $629m Chinese loan

The Lekki Deep Seaport project has received a major boost with the signing of a $629m financing facility with China Development Bank. Four agreements, including the financing facility, were signed on Wednesday with the CDB to accelerate the completion of ...

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Nigeria loses N5tn annually to tax evasion – Fowler

Nigeria loses N5tn annually to tax evasion – Fowler

The Executive Chairman, Federal Inland Revenue Service, Mr  Tunde Fowler, has said Nigeria loses about $15bn to tax evasion annually. The $15bn, when converted based to naira on N358 to a dollar interbank market exchange rate, translates to about N5.37tn. ...

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Barge operators seek greater participation in cargo movement

Barge operators in Nigeria have said the economy could derive a lot of benefit from  utilising barges to transport cargoes along the waterways. The President, Barge Operators Association of Nigeria, Edeme Kelikume, stated this at a stakeholders meeting with the ...

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Presidential order cannot clear Apapa gridlock — Truck owners

Apapa gridlock: Agents reject movement of containers in barges

The Chairman, Association of Maritime Truck Owners, Chief Remi Ogungbemi , has faulted the various moves by the government to clear the persistent gridlock in the Apapa area of Lagos by issuing executive orders, saying that they are not sufficient. ...

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New minimum wage payment begins before Dec 31 –FEC

New minimum wage payment begins before Dec 31 –FEC

The Federal Executive Council on Wednesday directed the Minister of Finance, Zainab Ahmed, to effect the payment of the N30,000 new national minimum wage on or before December 31, 2019. The FEC also approved that the payment of the new ...

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Maritime Sector To Honour Departed MMS First Lady With ‘Night of Tributes’

Maritime Sector To Honour Departed MMS First Lady With ‘Night of Tributes’

As part of efforts to pay homage to the late Mrs. Promise Anaroke, wife of the CEO/ Editor-in-Chief of MMS Plus newspapers, Mr. Kingsley Anaroke, maritime industry stakeholders have set aside November 7th, 2019 for a night of tributes. The event is ...

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Global Oil Players To Converge At 2019 OTL Africa Expo Next Week

As the 13th edition of Oil Trading and Logistics (OTL) Africa Downstream Week begins next week, global  players in the downstream petroleum industry are set to converge with the focus on the evolving impact of Innovation and Technology on efficiency ...

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NPA’s Call To Revoke Secure Anchorage Contract Is Wrong – OMSL

Managing Lagos Ports

  In a swift reaction to Nigerian Ports Authority’s (NPA) recent call for the termination of Secure Anchorage Area (SAA), the management of Ocean Marine Solutions Limited (OMSL), has faulted NPA’s reasons for such call, even as it rebuked NPA ...

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Nigeria for fresh $3b World Bank power loan

Nigeria needs N10.1trillion to improve economy

The Minister of Finance, Mrs. Zainab Ahmed, yesterday said the Federal Government’s request for a $3 billion World Bank loan to finance the power sector was at the verge of being granted.The News Agency of Nigeria (NAN) quoted her making ...

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Sealed marts: Car dealers demand N10bn, LCCI berates customs

LCCI demands one-year tax holiday for manufacturers, healthcare firms

An association of car dealers in Lagos State has asked the Nigeria Customs Service to immediately open their sealed car marts and pay them N10bn compensation within 30 days or be ready to face a court action. The NCS had ...

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‘Why Customs created Kebbi border points’

Recruitment budget: N1.6bn for hiring, training, Customs insist

The Comptroller General of Customs, Col. Hameed Ibrahim Ali (retd.), said the Nigeria Customs Service created the Kebbi State Area Command to improve revenue generation opportunities from the eight border stations in the state. The Comptroller General, who made the ...

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CBN opposes MTN over mobile banking transaction access

Economy contracted in May, says CBN report

The Governor, Central Bank of Nigeria, Mr Godwin Emefiele, has kicked against MTN Nigeria’s plan to start charging its subscribers for Unstructured Supplementary Service Data access to banking services from Monday (today). The governor said this during a media briefing ...

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Demystifying Local Aircraft MRO’s Challenges In Nigeria

Demystifying Local Aircraft MRO's Challenges In Nigeria

By Okuneye Moyosola A maintenance facility, otherwise known as Maintenance and Repair Organization (MRO), is an essential requirement in civil aviation, to ensure aircraft are top-notch, airworthy for passengers and cargo without the fear of falling off the sky. Aircraft ...

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Africa To Lose Colossal Freight Earnings Despite Regional Trade Agreement

Africa To Lose Colossal Freight Earnings Despite Regional Trade Agreement

·  Shipowners, Freight Agents, others urged to form influential groups By Kenneth Jukpor Despite the African Continental Free Trade Agreement (AfCFTA) estimated to boost intra-African trade by 52% by 2022, African shipowners have expressed concern that the region would miss out ...

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