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Monthly Archives: August 2020

400% Hike In Global Shipping Charges: MAERSK Line Opts Out

A.P. Moller Maersk To Split Into Transport, Energy Divisions

By Kenneth Jukpor Following the wide condemnation of the recent 400 percent increment in peak season surcharges by global shipping companies, MAERSK Line has instructed its commercial department to stop applying the surcharge from tomorrow, September 1st, 2020. This is ...

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Wike poaches Amaechi’s stalwarts to deplete fragmented APC

Wike poaches Amaechi’s stalwarts to deplete fragmented APC

The defection of former Director-General of All Progressives Congress (APC) Campaign Organisation in the 2019 general election, Dr. Chidi Lloyd, to the Peoples Democratic Party (PDP) in Rivers State, has sent huge shockwaves through the fragmented party. Though defection from ...

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Panic sale weighs on dollar as BDC window reopens

Panic sale weighs on dollar as BDC window reopens

• CBN vows to ensure exchange rate stability • Sustain rebound with external reserves, experts urge What appears like a gradual easing of the naira started at the weekend as the parallel market operators started dumping dollars ahead of the ...

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Review policy on third-party procurement, LCCI tells CBN

Review policy on third-party procurement, LCCI tells CBN

The Lagos Chamber of Commerce and Industry has appealed to the Central Bank of Nigeria to review its new policy on payments for imports to save the already ailing and distressed Nigerian economy from complete collapse. A statement issued on ...

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Foreign reserves rise by $70m in one week

NNPC obtains $1bn to fund upstream operations

The country’s foreign reserves rose by $70m from $35.59bn as of August 20 to $35.66bn on August 27, the latest figures from the Central Bank of Nigeria have shown. The reserves had earlier dropped by $278.91m from $35.87bn on July ...

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Govs, Ohanaeze commend Buhari as Enugu airport reopens

Govs, Ohanaeze commend Buhari as Enugu airport reopens

At last, after a year and six days the Federal Airport Authority of Nigeria shut down flights operation at the Akanu Ibiam International Airport for safety concerns, the airport was on Sunday reopened for business. FAAN had on August 24, ...

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We spent N5.3bn on petrol subsidy in June – NNPC

We spent N5.3bn on petrol subsidy in June – NNPC

Latest figures from the Nigerian National Petroleum Corporation have shown that the oil firm made an under-recovery of N5.348bn in June this year. Under-recovery is the losses incurred by the oil firm due to the difference between the subsidised price ...

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Banks borrow N2.08tn from CBN in four months

CBN grants Greenwich Merchant Bank operational licence

Increased liquidity in the banking sector has continued to raise the lending institutions’ capacity to increase credit to the economy. The Deposit Money Banks and merchant banks in the country borrowed N1.81tn from the Central Bank of Nigeria in the ...

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Lagos Helicopter Crash: Stakeholders Must Address Multiple Aviation Flaws – Ojikutu

Post COVID-19: How Airlines Can Make Over N50billion Annually – Ojikutu

By Ayoola Olaitan Following the recent Lagos helicopter crash, the Secretary General of the Aviation Safety Round Table Initiative and Chief Executive Officer, Centurion Securities, Group Captain John Ojikutu (Rtd), has called on aviation stakeholders to carry out a thorough ...

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How Transport Sector Could Forestall Nigeria’s Economic Recession

How Transport Sector Could Forestall Nigeria's Economic Recession

· Experts lament infrastructure deficits, pending bills, palliatives, others · Downturn started before COVID-19 pandemic – NESG By Kenneth Jukpor Despite the 6.1 percent contraction of Nigeria’s economy in the second quarter of the year 2020, there are indications that ...

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Managing Foreign Hostility Towards Nigerian Traders

Managing Foreign Hostility Towards Nigerian Traders

As more business enterprises belonging to Nigerians are being closed by the local authorities and the Ghana Union of Traders Associations, it has elicited angry reactions in Nigeria. The leadership of the Nigerian Traders Union in Ghana says it is ...

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ECONOMY: Q2 2020 GDP Shrinks by 6.10% from COVID-19 Pandemic; CBN Moves to Boost FX Liquidity…

ECONOMY: August Inflation Rate Jumps to 13.22% as MPC Decides on Policy Rate in the New Week…

CWR, Cowry Weekly Financial Market Review Outlook Friday, August 28, 2020

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Lolacious Lola

Lolacious Lola

Lola Masha is the Director for Trust and Safety at OLX Group.. Globally, the OLX brand is one of the world’s leading free, online classifieds platforms with 123 million unique users across 107 countries, generating traffic of over 1.8 billion ...

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BEARS: Black Friday

BEARS: Black Friday

No fewer than four persons died in a ghastly helicopter crash in Ikeja, Lagos on Friday. This helicopter, a Bell 206B3, with registration number 5N BQW which belongs to Quorum Aviation, crashed into a building at Salvation Road, Opebi. While the Accident ...

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NDDC Mysteries And Forensic Audit

NDDC Mysteries And Forensic Audit

Against the backdrop of gross underdevelopment of the oil-rich Niger-Delta region characterized by environmental despoliation, poverty and despondency there was established in July 1992, by decree number 23 the Oil Mineral Producing Area Development Commission (OMPADEC) with the mandate to ...

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BULLS: ISPS Complaint Port

BULLS: ISPS Complaint Port

A port city should be an exclusive area, secured and clean. Nigerian Ports Authority (NPA) and Lagos State Government carried out the long awaited clean up eradicating the shanties around Tin Can Island Port (TICP) area last week. Although hundreds ...

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Why Eastern Ports Have More Potentials Than Lagos Ports – Epiah

Why Eastern Ports Have More Potentials Than Lagos Ports – Epiah

By Kenneth Jukpor Mr. Sam Epiah is the Managing Director of Cloverleaf Shipping Limited, a shipping agency and logistics support services company. He is also a member of the Board of Trustees (BOT) of Bayelsa and River States Shippers Association. ...

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Basic Protocols For Safety On Recreational Boats

Basic Protocols For Safety On Recreational Boats

This week’s edition of Shippers’ Guide examines boating, as a recreational sport that has been around for over 300 years. During this time many customs and traditions have been developed in order to help relieve the natural stress that comes ...

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Two dead, One Injured In Lagos Helicopter Crash

Two dead, One Injured As Helicopter Crash Land In Lagos

By Ayoola Olaitan Two persons have died in an helicopter crash which occurred in Ikeja, Lagos while another victim is severely injured. The helicopter, a Bell 206B3, with registration number 5N BQW which belongs to Quorum Aviation, crashed at 16A ...

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Government shifts international flights resumption to Sept 5

FG reopens all airports for domestic flights

The Federal Government on Thursday shifted the resumption date for the commencement of international flights into and out of Nigeria from August 29 to September 5. Minister of Aviation, Hadi Sirika, had announced on August 17 that international flights would ...

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