Business and Economy

The Nigerian Maritime Administration and Safety Agency (NIMASA) says it would intensify its efforts to reposition the maritime industry in Nigeria, as the agency moves to become a leading maritime administration in Africa. The Director-General of NIMASA, Dr. Dakuku Peterside, stated this last week in Lagos during the Independent Newspapers …

 E-commerce giant Konga has partnered with Visa, the world’s leader in digital payments to revolutionize the e-commerce sector in Nigeria. By leveraging the delivery of digital and secure payments solutions across key segments of the Konga Group’s business portfolio, the strategic partnership is positioned to drive greater efficiency in the …

By Taiye Elebiyo-Edeni Abuja, Jan. 15, 2019 Dr Dakuku Peterside, the Director General (DG) of Nigerian Maritime Administration and Safety Agency (NIMASA), said on Tuesday that the agency was addressing the issue of maritime security to make Nigerian ports more attractive. Peterside, who disclosed this in an interview with newsmen …

Dangote Industries Limited (DIL) has denied the ownership of the truck that caused an accident in Iworoko Ekiti, in which 20 people were said to have died at the weekend. The Management of DIL on Sunday issued a statement, frowning at the misleading and unverified report, carried by an Online medium, …

  The Economic and Financial Crimes Commission, EFCC, Benin Zonal Office has arrested a Bishop and suspected fraudster, Giniko Obi, for allegedly defrauding thousands of people of various sums of money running into millions of naira, in the guise of helping them “fight poverty”. Obi, founder of Beloved Gideon Foundation, …

By Amen Gajira Minna, Jan.12, 2019 Vice President Yemi Osinbajo, says Micro, Small, Medium Enterprises (MSMEs) are the most important business component for economic growth. Osinbajo said this on Saturday while launching the MSME clinic in Minna, Niger. “The MSME clinic is a response to the fact that we recognise …

 The Chairman and Chief Executive Officer of Dangote Group, Alhaji Aliko Dangote, and the Group Executive Vice Chairman of SIFAX Group, Dr. Taiwo Afolabi, on Friday joined other stakeholders in the Nigerian maritime sector to hail fresh initiatives by the Nigerian Maritime Administration and Safety Agency (NIMASA) towards realisation of …

Make no mistake about this: the greatest challenge facing the Nigerian nation today is economic. With little else to rely on for foreign exchange, save her oil, which in itself is no longer the life saver it used to be, the country is teetering on the precipice of economic collapse amid high inflation …

Twenty-two members of the academia from 12 Nigerian  universities have begun research attachments at The Shell Petroleum Development Companies of Nigeria (SPDC) in several fields of study in the latest phase of the sabbatical and internship programme of the SPDC Joint Venture which was introduced in 1980. The number represents 13 …

Danjuma James, Sokoto Governor Aminu Tambuwal of Sokoto state has  urged Labour Leaders in the country  to intensify agitation for the review of the nation’s revenue sharing formula. He stated this Wednesday  while receiving NLC members at Government house Sokoto who staged a rally agitating for the implementation of  N30,000 …

ABUJA – The Central Bank of Nigeria (CBN) has continued its intervention in the inter-bank sector of the Foreign Exchange market by injecting another sum of $210 million into the forex market. In the forex trading on Tuesday, January 8, 2019, the CBN injected the sum of $100 million in …

Washington, Jan. 7, 2019 (Reuters/NAN) World Bank Group President, Jim Yong Kim, will resign effective from February 1, more than three years ahead of the expiration of his term in 2022, the multilateral lender said on Monday. Kim, 59, announced that he will immediately join a firm and focus on …

By Racheal Ishaya Abuja, Jan. 4, 2019 The Central Bank of Nigeria (CBN) on Friday made its first intervention in the inter-bank sector of the Foreign Exchange (FOREX) market for 2019 with a sum of 210 million dollars. The CBN Director, Corporate Communications, Isaac Okorafor, said the wholesale sector of …

By Joan Nwagwu Abuja, Jan. 2, 2019 The Federal Government says it will meet with Organised Labour to prevent the threat of national industrial action over non transmission of the New National Minimum Wage bill to the National Assembly. Sen. Chris Ngige, Minister of Labour and Employment, said this in …

   By Taiye Baiyerohi Lagos, Dec. 30, 2018 Some exhibitors at the maiden edition of the ongoing Lagos “Style by Zenith” Fair say they have recorded a high-powered sales pitch at the market which has attracted over 200 exhibitors. Excited about the huge sales, the exhibitors commended the organisers of the …

By Adekunle Williams and Solomon Asowata Lagos, Dec. 27, 2018 Air Peace has unveiled its plan for the aviation sector in 2019, assuring air travellers of packages including exceptional long-haul flights to Dubai, Sharjah, London, Guangzhou-China, Houston, Mumbai and Johannesburg. The Chairman of Air Peace, Mr Allen Onyema, gave the …

The Shell Petroleum Development Company of Nigeria Limited (SPDC) has announced the Final Investment Decision (FID) on the Assa North Gas Development Project in Imo State, a major momentum to the domestic gas aspiration of the Federal Government for increased power generation and industrialisation. At peak production, the project is …

By Sumaila Ogbaje ABUJA, Dec. 22, 2018 Air travelers at the Nnamdi Azikiwe International Airport, Abuja Nigeria have lamented the hike in price of air tickets by airlines ahead of the Christmas celebration. Some of the travelers who spoke with the News Agency of Nigeria (NAN) said they were not …

The Minister of Budget and National Planning, Senator Udoma Udo Udoma, on Thursday explained that even though the unemployment figures released recently by the National Bureau of Statistics (NBS) show an increase in the unemployment rate, it is important to stress that this is not the same thing as job …

  In a bid to ensure a better living standard for dock workers in the Nigeria maritime industry, the Nigerian Maritime Administration and Safety Agency (NIMASA) alongside other associations in the sector under the aegis of the National Joint Industrial Council (NJIC) have signed a Collective Bargaining Agreement (CBA), which …

The Economic and Financial Crimes Commission, EFCC, on December 17, 2018, arraigned a former Chairman, Board of Directors, Skye Bank Plc, Tunde Ayeni, before Justice Nnamdi Dimgba of the Federal High Court, Abuja on an eight-count charge, bordering on money laundering to the tune of about N8 billion. Ayeni was …

In 13 years of deep-water exploration, the Bonga vessel of the Shell Nigeria Exploration and Production Company (SNEPCo) has produced over 800 million barrels of crude oil, confirming the company as a pacesetter in offshore oil and gas production in the Gulf of Guinea. In its review of the performance …

The Director General of the Nigerian Maritime Administration and Safety Agency, Dr. Dakuku Peterside, has said that the maritime sector and logistics are the driving force behind globalisation, stressing that everything about trade and development is centred on maritime transport and logistics. Dakuku stated this at the inauguration of Council …

Dennis Udoma The project execution phase of the $60 million United States Dollars (USD) 5,000 barrels per day Ikwe-Onna Modular Refinery has commenced in Akwa Ibom State. The Ikwe-Onna refinery, incorporated in 2016, it would be recalled, was granted Authority To Construct (ATC) license barely few months ago by the …

 BEDC Electricity Plc has condemned as untrue an online publication to the effect that the operating license of the company has been withdrawn and that customers in Benin should as a result of the development no longer pay for electricity. The management of the power distribution company, in a statement, …