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Monthly Archives: March 2021

Customs recover N1bn debit notes from importers, shippers

Massive fuel smuggling persists amid opposition to border restriction

The Comptroller General of the Nigeria Customs Service, Strike Force Unit says it has recovered debit notes worth N1bn from importers, shippers in the last three months. The service also said smugglers now made use of cattle, camels, vehicle fuel ...

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$1.5bn for Port Harcourt refinery rehabilitation outrageous – Reps caucus

$1.5bn for Port Harcourt refinery rehabilitation outrageous – Reps caucus

The minority caucus in the House of Representatives has rejected the $1.5bn approval for rehabilitation of the Port Harcourt refinery, describing the figure as ‘outrageous and heavily inflated’. The caucus, therefore, demanded an immediate review of the cost. A statement ...

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Court bars FG from blocking SIM cards on April NIN linkage deadline

Court bars FG from blocking SIM cards on April NIN linkage deadline

A Federal High Court in Lagos State has barred the Federal Government from blocking SIM cards not linked to National Identity Numbers next month. The Ministry of Communications and Digital Economy had, through the Nigerian Communications Commission, asked operators to ...

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Nigeria loses 20% passenger traffic over Emirates, Etihad exit

Nigeria loses 20% passenger traffic over Emirates, Etihad exit

•Foreign airlines rally behind controversial rapid antigen test The suspension of Emirates Airlines and Etihad’s withdrawal from Nigerian airspace has cost the country, at least, a 20 per cent decline in international passenger traffic. Media source learned that the decline ...

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13 Nigerian security chiefs, others stole $400m, stash loot in UAE – HEDA

13 Nigerian security chiefs, others stole $400m, stash loot in UAE – HEDA

The Human and Environmental Development Agenda has said assets and funds worth more than $400m stolen from Nigeria were stashed in the United Arab Emirates. The leading anti-graft group explained that out of the 800 assets uncovered by investigators, 216 ...

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IMF demands debt data accuracy, transparency from Nigeria, others

IMF extends debt relief to 28 low-income countries

• ‘Remove bottlenecks to achieve accelerated growth’ • $200b five-year spending required to step up response to COVID-19 A day after the National Bureau of Statistics (NBS) released report that said states and federal debts had hit N32.92 trillion as ...

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Customs propose ban on vehicles above seven years

Customs propose ban on vehicles above seven years

The House of Representatives’ Committee on Customs and Excise has proposed a revenue target of N1.56tn for the Nigeria Customs Service in 2021, up from the original N1.4tn proposition. The amount was set for the NCS in 2020 before the ...

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Buhari puts revenue generation from NLNG at $114bn

Buhari puts revenue generation from NLNG at $114bn

The President, Major General Muhammadu Buhari (retd.), on Monday, said the Nigeria Liquefied Petroleum Natural Gas company has generated $114bn revenues for the country. He disclosed this at the Nigeria International Petroleum Summit 2021 Pre-Summit Conference and official inauguration of ...

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Most Nigerian airports not viable, says Senate committee

Most Nigerian airports not viable, says Senate committee

The chairman of Senate committee on aviation, Senator Smart Adeyemi, says most airports in Nigeria are not viable. Adeyemi stated this after a two-hour inspection of the Anambra State International cargo/passenger airport at Umueri, in the Anambra East Local Government ...

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FG moves to revive oil fabrication yard in Lagos

FG moves to revive oil fabrication yard in Lagos

The Federal Government has expressed its readiness to assist in reviving a multimillion-dollar oil fabrication yard in Lagos State stalled since 2015 after a force majeure declared by an international oil company operating in the country. The Snake Island Fabrication ...

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Senate summons NNPC again, cites non-remittance of N4.07tn

Senate summons NNPC again, cites non-remittance of N4.07tn

The Senate Public Accounts Committee has again summoned the management of the Nigerian National Petroleum Corporation over alleged non-remittance of N4.07tn to the Federation Account between 2010 and 2016. The management of the NNPC had appeared before the Senate panel ...

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2021 Budget: NITT To Spend N5.6bn On Outreach Centres, N1bn Transport Databank

2021 Budget: NITT To Spend N5.6bn On Outreach Centres, N1bn Transport Databank

·  Institute’s new main gate to cost N200million ·  NRC to acquire N1billion spare parts this year By Kenneth Jukpor  The Nigerian Institute of Transport Technology (NITT) will spend N5.67billion in Construction, Completing and Equipping Zonal Outreach Learning Centres at ...

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Port Concession Intrigues: FG Abandons NPA’s Concession Review Exercise

Port Concession Intrigues: FG Abandons NPA’s Concession Review Exercise

Port concessionaires get lease covertly renewed Shippers’ Council discontented with observer status By Kenneth Jukpor The Federal Government has discarded the recent port concession review exercise carried out by Nigerian Ports Authority (NPA) and terminal operators, with technical support from ...

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Bird Strikes: Managing The Aerodrome

Bird Strikes: Managing The Aerodrome

Bird strikes are a common phenomenon in the aviation industry and have  become a major threat to air safety globally. It is simply a collision between an airborne animal (most likely a bird) and an aerial vehicle, usually an aircraft. ...

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Classy Cassandra

Classy Cassandra

Dr. Cassandra Akinde is currently the team lead for The Nigerian Child Initiative, a non-profit which promotes child health awareness and sustainable education to empower them with healthy choices. Her work centres on helping these children understand that sound education ...

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ECONOMY: Equities Market Performance Weakens as Investors Book Profit ahead of Corporate Releases…

ECONOMY: March 2021 Inflation Rate Soars to 18.17% amid Insecurity, Structural Challenges…

CWR, Cowry Weekly Financial Market Review Outlook Friday, March 25, 2021

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Freight Agents Criticize SON’s Bid To Return To Seaports

Freight Agents Criticize SON's Bid To Return To Seaports

By Kenneth Jukpor Freight forwarders have kicked against Standards Organization of Nigeria (SON) move to return to the ports, admonishing the agency to prioritize destination inspection and improved online services. While the regulatory agency argues that a position at the ...

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BEARS: NSC, Customs Debate

NSC, Customs Debate

A heated argument occurred during the INCOTERMS  2020 port stakeholders workshop last week as the Director, Consumer Affairs, Nigeria Shippers Council (NSC), Chief Cajetan Agu fired first against a Deputy Comptroller, Customs Modernization, Nigeria Customs Service (NSC), Mr. Nafiu Isiyaku ...

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BULLS; Congrats Rakiya!

The Deputy Director, Public Relations, Nigerian Shippers Council (NSC), Hajia Rekiyah Zubair knotted the tie with her heartthrobe Prof. Sikirulai Yagboyaju at University of Ibadan Central Mosque, on Thursday, last week. MMS joins Shippers’ Council and other well wishers felicitating ...

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Eto: Challenges Are Surmountable, We’ll Fix Them – NPA

Eto: Challenges Are Surmountable, We’ll Fix Them - NPA

By Yusuf Odejobi The Managing Director of Nigerian Ports Authority (NPA) Hadiza Bala-Usman had a chat with newsmen recently. She spoke on the modest success as well as challenges of the new electronic truck call-up system (Eto) since its inception. ...

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