Business and Economy

Former chairman of the Association of Africa Maritime Administrations (AAMA), Dr Dakuku Peterside will be speaking at the Sustainable Maritime Industry Conference, scheduled for Jeddah, Saudi Arabia from September 4-6, 2023. The conference, under the patronage of His Excellency, Eng. Saleh Aljasser, Kingdom of Saudi Arabia’s Minister of Transport and …

By promoting investments in Black-owned businesses, the Global Black Impact Summit (GBIS) will unleash a wave of economic equality and societal transformation, heralding a new era of diversity and inclusion in the business world DUBAI, United Arab Emirates, August 18, 2023/ As the world increasingly acknowledges the importance of fostering …

By Ismail Abdulaziz Abuja, Aug. 18, 2023 President Bola Tinubu has approved the establishment of the Presidential Compressed Natural Gas Initiative (PCNGI) to ease the impact of fuel subsidy removal on Nigerians by reducing energy costs. This transformative initiative is to revolutionise the transportation landscape targeting over 11,500 new CNG-enabled …

*Says Renewed Hope economic agenda will be given a boost   The Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh, has praised President Bola Ahmed Tinubu for the creation of the Marine and Blue Economy Ministry and appointment of Hon. Olubunmi Tunji-Ojo to man its affairs. …

A magistrate court in Abuja has convicted and jailed a lawyer for six months over defamatory publication against Dangote Cement Plc. The convict, Augustine Addeh, of the law firm, Mokidi and Co., had caused the publication of an advert in the Nation Newspapers of Friday November 6, 2015, where he …

In line with the mandate of the Nigerian Maritime Administration and Safety Agency, NIMASA, which includes safe shipping and cleaner oceans, a team comprising of Search and Rescue and marine accident investigation officers have been dispatched to the scene of the incident involving the Majestic Rig belonging to Depthwize Nigeria …

By Lydia Ngwakwe Lagos, Aug. 15, 2023 Access Bank Plc has, as part of its expansion strategy, launched custody services to offer safekeeping and servicing of financial assets to its customers. The Managing Director of Access Bank, Mr. Roosevelt Ogbonna, made this known in a statement in Lagos on Tuesday. …

By Kadiri Abdulrahman Abuja, Aug. 15, 2023 The Debt Management Office (DMO) says it received a total subscription of N312.56 billion in its August, Federal Government of Nigeria (FGN) bond auction. The DMO made this known in a statement released through its official website on Tuesday. The News Agency of …

By Ismail Abdulaziz Abuja, Aug. 14, 2023 The Central Bank of Nigeria (CBN) will soon come up with stringent measures to stabilise multiple exchange rate in the country. The CBN Acting Governor, Mr. Folashodun Shonubi, disclosed this to State House Correspondents after a meeting with President Bola Tinubu on Monday …

Leading financial institution, Fidelity Plc, has distributed over 1,200 food packs to the internally Displaced Persons in Makurdi, Benue State in its ongoing commitment to eliminate hunger among vulnerable persons in the society. The event, which took place on Thursday, 10 August 2023 at the IDP Camp, Federal Housing Estate …

Between 2020 and 2023, the Nigerian Maritime Administration and Safety Agency (NIMASA) has brought the country to speed in the maritime world with ratification of six conventions. Under the Dr Bashir Yusuf Jamoh OFR-led Management NIMASA in the last three years has doubled Nigeria’s momentum for a viable blue economy …

The Arewa Economic Forum (AED) has declared that the financial loss occasioned by the closure of the Nigerien border with Nigeria is 13 billion naira on a weekly basis. The forum in a press conference in Abuja on Sunday also lamented that Northern Nigerian businessmen have over 2000 containers of …

A Nigerian registered company, Melsmore Marine Nigeria limited is responsible for the relocation of the Modular Floating Dock of the Nigerian Maritime Administration and Safety Agency, NIMASA, from the Naval Dockyard to the waterfront of the Dolphine Jetty at the NPA Dockyard which used to be the Continental Shipyard. Mr. …

As a retired National Commissioner of the Independent National Electoral Commission (INEC), I have been wanting to tell this story because Nigerians don’t have faith in our People, Corporates and Country. I am sure staff, and my colleagues then know who I am but for obvious reason, I have decided …

Chevron Nigeria Limited (“CNL”), operator of the joint venture between the Nigerian National Petroleum Company Limited (“NNPCL”) and CNL, (“NNPCL/CNL JV”), has successfully completed an onboarding workshop for members of the Board of Trustees (“BOT”), Management Committee (“MC”) and Advisory Committee (“AC”) of the Agbonu Ogulagha-Ibe Host Community Development Trust …

£55 million contract and £2.89m grant as part of a £95m Propcom+ programme announced. Abuja, 02 August 2023 UK’s Foreign Secretary, James Cleverly, has officially announced the launch of its programme, Propcom+ supporting climate and growth by addressing environmental, social, and economic challenges in the country’s food and land-use system. …

Lagos, 01 August 2023 FSD Africa Investments (FSDAi), in collaboration with InfraCredit, have invested £10m into a first-of-its-kind risk-sharing backstop facility, designed to unlock local currency funding for sustainable infrastructure development in Nigeria. The Risk Sharing Backstop Facility (RSBF) will address the challenge of low credit enhancement by mobilising local …

 The Nigeria Content Development Monitoring Board, NCDMB, has craved the understanding and support of the insurance sector to strengthen the Board’s desire towards the implementation of the Nigerian Oil and Gas Industry Content Act, NOGICD, in the sector. The Executive Secretary, ES, of the Board, Simbi Wabote, who made the …

For a third year running, Zenith Bank Plc has been named the Best Commercial Bank in Nigeria at the World Finance Banking Awards 2023. The bank also emerged as the Best Corporate Governance Bank, Nigeria, in the World Finance Corporate Governance Awards 2023, retaining the award for a second consecutive …

Transnational Corporation Plc (Transcorp Group), Nigeria’s leading conglomerate with investments in Power, Hospitality and Energy sectors has announced reported its financial results for the first half of the year ended June 30, 2023, recording commendable growth across all its major indices. The Group achieved an impressive revenue of N82.1 billion …

Avanti holds position as sub-Saharan Africa’s leading capacity partner for the second year running JOHANNESBURG  Avanti Communications (“Avanti”) has been named the market-leading high-throughput satellite capacity partner in sub-Saharan Africa for the second year running. The results, from the 20th edition of the NSR Satellite Capacity Supply & Demand Analysis reports that …

Management of Dangote Refinery have debunked a report published on the online platforms of some media organisations that the company employed 11,000 skilled workers from India while allegedly neglecting youths from Nigeria and other African countries. In his response, the Group Chief Branding & Communications Officer, Anthony Chiejina said the …

Gwen Mwaba, Director & Global Head of Trade Finance at Afreximbank has confirmed her participation at Angola Oil & Gas (AOG) 2023, where she will speak about financing opportunities within Angola’s energy sector LUANDA, Angola, July 25, 2023 Gwen Mwaba, Director & Global Head, Trade Finance at the supranational multilateral …

President of Dangote Group, Aliko Dangote has been hailed as a foremost entrepreneur whose laudable interventions in the agricultural sector in Nigeria should be applauded and emulated by others. Many Nigerian University Vice Chancellors, under the auspices of Committee of Vice-Chancellors who were at the Dangote Fertiliser plant on a …

July 23, 2023 Initial applauses from Bretton Woods and some local economists that greeted the economic reforms of the Bola Tinubu presidency were deafening. The reforms were termed bold and courageous. The most surgically painful of them, which drilled deep down into the marrows of Nigerians, was the removal of …