Daily Archives: September 4, 2020

Court Stops NPA From Terminating INTELS’ Boat Operation Service

Court Stops NPA From Terminating INTELS’ Boat Operation Service

A Federal High Court sitting in Lagos has granted an interim injunction stopping the Nigerian Ports Authority (NPA) from terminating the role of INTELS Nigeria Limited as manning agent in the Pilotage Districts of Lagos, Warri, Bonny/Port Harcourt and Calabar. ...

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NNPC obtains $1bn to fund upstream operations

NNPC obtains $1bn to fund upstream operations

The Nigerian National Petroleum Corporation on Thursday night announced that it had obtained a prepayment funding of about $1bn to support the upstream operations of its subsidiary, the Nigerian Petroleum Development Company. It said the crude oil prepayment had enabled ...

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Firm to commission vegetable oil refinery this year

Firm to commission vegetable oil refinery this year

…Pays N2 billion dividend to shareholders in 2019 Presco Nigeria Plc has announced that the new 500 tons vegetable oil refinery has been completed with commissioning scheduled for the end of the year. The Chairman of the company, Pierre Vandebeeck, ...

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I’m more skillful, Ajagba teases Joshua

I’m more skillful, Ajagba teases Joshua

Nigeria heavyweight sensation, Efe Ajagba, is eyeing a future title fight against British-Nigerian two-time unified heavyweight champion, Anthony Joshua. Ajagba, who is yet to make his Top Rank debut after signing with the renowned boxing promoters in August, says he ...

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IFC discloses $39m fund for Nigeria’s plastics, recycling industry

IFC discloses $39m fund for Nigeria’s plastics, recycling industry

•PET Resin plant to process 30,000 tons used plastic yearly The International Finance Corporation (IFC), has announced a $39 million financing package to build a Continuous Polymerisation PET Resin plant in Ogun State, which would source over 20 percent of ...

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Oil servicing firms may go bankrupt, says report

Oil servicing firms may go bankrupt, says report

With the crude oil market likely to remain depressed for the rest of 2020, some oil servicing companies in Nigeria may eventually go bankrupt, Agusto & Co. has said. The rating agency and research firm, in its 2020 oil and ...

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‘CBN’s directive on Forms M will dampen economic growth’

FG apologises, says self-certification order not for everyone

The recent directive by the Central Bank of Nigeria (CBN) to all authorised dealers on Forms “M” has the potential to frustrate the on-going efforts of the Federal Government to return the economy to growth, Organised Private Sector (OPS), has warned. ...

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International flight: FG bars Air France, KLM, others, approves 14 airlines

International flight: FG bars Air France, KLM, others, approves 14 airlines

The Federal Government has released the list of nine airlines granted approval to commence international flights in Nigeria. Speaking at a briefing of the Presidential TaskForce on Thursday, the Minister of Aviation, Hadi Sirika, confirmed the September 5 as the ...

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Nigeria, Korea Deepen Partnership On Shipping Development

Nigeria, Korea Deepen Partnership On Shipping Development

By Kenneth Jukpor Nigeria and South Korea have agreed to intensify their collaboration in trade and shipping development. This was disclosed in Lagos during a meeting between the Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir ...

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