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BEARS: Lagos T-Fare Hike

BEARS: Lagos T-Fare Hike

One would wonder if  transporters are humane with the recent hike in transportation cost in Lagos recently  despite crash in fuel prices. Most of the commuters paying this hiked fees are victims of slashed salaries and other tough economic pangs ...

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BULLS: Digitized MMS Plus

BULLS: Digitized MMS Plus

When digital transformation is done right, it’s like a caterpillar turning into a butterfly with beauty and characteristics of the latter far outweighing the former. MMS Plus has made this digital transformation by serving you a complete E-version of the weekly newspaper ...

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Demystifying The Complexities Of Customs Duty On Personal Effects

Demystifying The Complexities Of Customs Duty On Personal Effects

By Musa Omale PhD On the 13th day of May 2020, a Federal High Court sitting in Abuja in the case of KehindeOgunwumiju vs. The Nigerian Customs ServiceBoard &anordeclared null and void the powers of the Nigeria Customs Service to collect duty ...

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Price crash: NNPC targets $10 oil production cost

Price crash: NNPC targets $10 oil production cost

The Nigerian National Petroleum Corporation has said it is looking to drive down the cost of producing a barrel of crude oil to $10 and below in oilfields across the country. The Group Managing Director of the NNPC, Mallam Mele ...

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FG approves new health protocol for international flights

FG approves new health protocol for international flights

The Federal Government through the Ministry of Health has approved a new health protocol for Nigerian crew who operate flights outside the country. The Director General of the Nigerian Civil Aviation Authority, Capt. Musa Nuhu, in a circular to airlines, ...

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CBN forecasts slower growth, reduces lending rate to 12.5%

CBN forecasts slower growth, reduces lending rate to 12.5%

The Monetary Policy Committee on Thursday said the lower growth recorded in the economy in first quarter of 2020 was expected to dip slightly but with combined monetary and fiscal stimulus, the country may avoid a recession. The CBN Governor, ...

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Manufacturers bemoan interstate lockdown, extortion

Manufacturers bemoan interstate lockdown, extortion

Manufacturers of goods and products are complaining that the current interstate lockdown is adversely affecting the movement of goods from the production points to the various markets. The interstate lockdown is to prevent the spread of the coronavirus, especially for ...

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Power distributors sue FG over business interference

Power distributors sue FG over business interference

Electricity distribution companies have dragged the Federal Government to court to restrain it from further interfering in the corporate business activities of the power firms. According to the firms, the government, through the Nigerian Electricity Regulatory Commission and other agencies, ...

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Equity market records N29bn loss

Equity market records N29bn loss

Trading activities on the floor of the Nigerian Stock Exchange fell by 0.22 per cent on Thursday to halt its gaining streak as market speculators began profit-taking. Consequently, the All-Share Index dropped by 53.22 basis points or 0.22 per cent ...

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AMCON seeks fresh bailout for airlines

AMCON seeks fresh bailout for airlines

The Asset Management Corporation of Nigeria has called on the Federal Government to consider as a matter of top priority a bailout for the aviation industry. A statement from AMCON on Thursday said the call was made by the organisation’s ...

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Buhari writes National Assembly, seeks $5.5bn fresh loan

Buhari writes National Assembly, seeks $5.5bn fresh loan

The Senate on Thursday justified the $5.513 fresh external loan request from the President, Major General Muhammadu Buhari (retd.), insisting that it would not be a burden to the country. The National Assembly had in April this year approved N850bn ...

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Petrol marketers to gain N8.3bn on depot price reduction

Petrol marketers to gain N8.3bn on depot price reduction

Retail marketers of petrol are currently raking in billions of naira as findings on Wednesday showed that they would make over N8.3bn profit in May (this month) due to the recent reduction in the ex-depot price of the product. On ...

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I’ve never violated any process in AfDB — Adesina

I’ve never violated any process in AfDB — Adesina

African Development Bank President, Dr Akinwumi Adesina, has denied violating any process of the bank. Adesina, in a statement, said “the bank’s institutional framework was solid and efficient” and he stood by it. He insisted that he was innocent of ...

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CBN suspends intervention-loan repayment for one year

CBN suspends intervention-loan repayment for one year

The Central Bank of Nigeria has said it is giving one-year moratorium on all principal repayments for COVID-19 intervention loans through its participating Other Financial Institutions with effect from March 1, 2020. The apex bank said this in a circular ...

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Customs challenge ruling stopping duty on passengers baggage

Customs challenge ruling stopping duty on passengers baggage

The Nigeria Customs Service, on Wednesday, appealed against a ruling that it lacked the powers to collect import duty on items contained in passengers’ baggage. An Abuja Federal High Court, presided by John Tsoho, had on May 13, while ruling ...

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NCC suspends spectrum trading, to adopt new policy

NCC suspends spectrum trading, to adopt new policy

The Nigerian Communications Commission on Wednesday said it has suspended the Spectrum Trading Guidelines of 2018 for the Nigerian telecommunications industry. A statement by the Director of Public Affairs of NCC, Dr Henry Nkemadu, stated that the Board of Commissioners ...

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Nigerian Breweries, Stanbic lead as market gains N9bn

Nigerian Breweries, Stanbic lead as market gains N9bn

The local bourse on Tuesday opened the trading week on the positive trajectory after two-day Sallah holiday declared by the Federal Government. The major performance measures, the NSE ASI and market capitalisation, rose further by 0.07 per cent each as ...

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Oil crash threatens Nigeria’s gas flaring reduction

Oil crash threatens Nigeria’s gas flaring reduction

The oil price crash brought on by the coronavirus pandemic looks set to put a damper on gas flaring reduction efforts in the country as oil firms cut capital spending. International and indigenous oil firms operating in the country have ...

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Nasarawa to complete abandoned N5.4bn power plant

Nasarawa to complete abandoned N5.4bn power plant

The Nasarawa State Governor, Abdullahi Sule, has said his administration will complete the ex-Governor Abdullahi Adamu’s abandoned N5.4bn Farin-Ruwa Independent Power Plant in the state. Adamu, who was the first civilian governor of the state, now Senator representing Nasarawa West ...

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NNPC increases June selling prices of crude oil

NNPC increases June selling prices of crude oil

The Nigerian National Petroleum Corporation has increased prices at which the country’s crude oil grades will be sold next month. The country’s July crude oil loading programmes showed higher output on key grades on Tuesday after the country reduced its ...

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