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Nigeria’s cocoa production falls as Ghana, Côte d’Ivoire enjoy boom

How To Start Cocoa Production Business In Nigeria

• Production falls from 300,000 to 245,000 metric tonnes • Low budgets, poor grading, others identified as factors • Researcher blames scrapping of cocoa boards Production of cocoa as cash crop has dropped due to inadequate financing, among other factors. ...

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NCAA moves to address difficulties on travel portal

Civil Aviation Authority pledges to fight aeropolitics

Owing to the issues arising from uploading information on the Nigeria International Travel Portal, the Nigerian Civil Aviation Authority has advised foreign airline operators to allow intending passengers traveling to Nigeria board flights without any QR code. This was contained ...

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CBN makes e-marine insurance mandatory for Form M

CBN Reads Riot Act To Nigerian Shippers, Shipping Companies

The Central Bank of Nigeria has made digital marine insurance certificate a mandatory requirement to obtain Form M. The bank disclosed this in a circular titled ‘Integration of digital marine insurance certificate with e-Form on the Nigeria trade portal’ issued ...

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Stock market falls further, investors lose N38bn

Stock market gains N2.7tn in two months

Trading activities on the floor of the Nigerian Stock Exchange closed on a negative note on Wednesday to sustain negative sentiment following losses recorded by some blue-chip firms. The market breadth equally closed negative, with seven gainers against 23 losers. ...

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Pipeline repairs cost NNPC N41.98bn in six months

Our pipelines not near Baruwa plant fire – NNPC

The Nigerian National Petroleum Corporation has said it spent a total of N41.98bn on pipeline repairs and management cost in the first half of this year. The NNPC disclosed this in its latest monthly oil report, saying, “Products theft and ...

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I’ll confront Makinde over Ekiti PDP leadership, others –Fayose

I’ll confront Makinde over Ekiti PDP leadership, others –Fayose

The former governor of Ekiti State, Ayodele Fayose, has warned the Oyo State Governor, Seyi Makinde, against tampering with the leadership of Peoples Democratic Party in South-West states. Fayose insisted that the Oyo governor had no right to interfere in ...

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Malabu: FG asks Shell, Eni to pay $1.92bn damages

Malabu: FG asks Shell, Eni to pay $1.92bn damages

The Federal Government asked a Milan court on Wednesday to order Eni and Royal Dutch Shell to pay $1.09bn as an immediate advance payment for damages it is claiming in one of the oil industry’s biggest-ever corruption trials. Shell and ...

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ECOWAS halts single currency launch, adopts gradual approach

ECOWAS halts single currency launch, adopts gradual approach

The Economic Community of West African States has postponed the planned launch of its single currency, the Eco. The body agreed to maintain a gradual approach for the launching of the currency. ECOWAS explained that a new date for the ...

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Niger exports fuel to Nigeria as Egypt, Algeria build 13 refineries

Niger exports fuel to Nigeria as Egypt, Algeria build 13 refineries

• ‘Retool Port Harcourt refinery, stop petrol imports now’ • Dirty fuel may frustrate SDGs in Africa, ARA warns Neighbouring Niger Republic, which started commercial oil production in 2011, now exports petroleum products to Nigeria, as Egypt and Algeria lead ...

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N30,000 minimum wage meaningless with petrol price hike – NLC

Electricity/fuel price hike: NLC, TUC plan total shutdown from Sept 28

The Nigeria Labour Congress and civil rights groups on Tuesday said there was no economic basis in the claim by the Federal Government that the petrol price in the country was among the lowest in Africa. The NLC President, Ayuba ...

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Oil marketers now free to fix prices, says PPPRA

Lagos seals 11 petrol stations, 19 others

The Federal Government is no more going to be releasing guiding price bands for the sale of petrol at filling stations; hence, oil marketers are now free to fix prices. On March 19, 2020, the government, through the Petroleum Products ...

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NIMASA Should Deepen Maritime Regulation In Bayelsa – Diri

NIMASA Should Deepen Maritime Regulation In Bayelsa - Diri

By Kenneth Jukpor Governor of Bayelsa State, Senator Duoye Diri, has urged the Nigerian Maritime Administration and Safety Agency (NIMASA) to deepen maritime regulatory activities in Bayelsa State. Diri made this call when he visited the NIMASA headquarters in Lagos ...

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Food insecurity prevalent in Lagos, Kano, Rivers, Abuja –NBS

Nigeria generated N424.71bn VAT – NBS

The outbreak of COVID-19 has increased food insecurity in Lagos, Kano, Rivers and Abuja, the National Bureau of Statistics has said. It disclosed this in its latest report on the impact of COVID-19 in Kano, Lagos, Rivers and the Federal ...

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Budget support: IMF, World Bank conditions behind subsidy withdrawal, electricity tariff hike

Budget support: IMF, World Bank conditions behind subsidy withdrawal, electricity tariff hike

The Federal Government’s removal of petrol subsidy and the increase in electricity tariff are in line with reforms being sought by the International Monetary Fund and the World Bank, economic experts have said. The IMF had on April 28 approved ...

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Why we chose Siemens for 25,000MW grid expansion – FG

Minister says $5.8bn Mambilla power project idle, senators kick

The Federal Government on Monday said the German firm, Siemens AG, was chosen to expand Nigeria’s power grid because the company was best qualified to rehabilitate the dilapidated electricity infrastructure in Nigeria. Minister of Power, Sale Mamman, who disclosed this ...

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5,180 BDCs get $51.8m on forex sales resumption

5,180 BDCs get $51.8m on forex sales resumption

About 5,180 Bureau De Change operators got $10,000 each as the Central Bank of Nigeria fully resumed foreign exchange sales to the operators on Monday. The CBN had earlier announced it would commence sales of foreign exchange to BDCs on ...

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‘NIMASA reviewing cost of carrying Nigerian crude’

National Assembly lauds NIMASA budgetary performance

The Nigerian Maritime Administration and Safety Agency has renewed efforts to revisit the terms of trade for the carriage of Nigerian crude oil from Free on Board to Cost Insurance and Freight. Director-General of NIMASA, Dr Bashir Jamoh, disclosed this ...

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Revving up diversification to overcome post COVID-19 challenges

N1.2tr capital expenditure misses in minister’s 2021 budget breakdown

The impact of COVID-19 in Africa has created a sense of urgency and inspired calls for coordinated response to mitigate it’s devastating effects and lay the foundation for long-term recovery. Nigeria faces a greater challenge than many other countries from ...

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Ogun offers 30% discount on land charges

Ogun offers 30% discount on land charges

The Ogun State Government has granted 30 per cent reduction of the cost of land or land charges to business enterprises as a form of COVID-19 palliative. A statement issued by the state on Friday said the Ogun State Governor, ...

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Knocks for FG over petrol price, electricity tariff hike

NNPC raises petrol depot price, marketers to sell at N168-N170/litre

The Federal Government on Sunday came under more criticism for the increase in electricity tariff and petrol pump price last week. The Centre for Democracy and Development and the Civil Liberties Organisation condemned the government’s actions, saying many Nigerians would ...

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