Maritime experts have highlighted that Nigeria is experiencing an annual loss of $9.2 billion due to foreign shipping lines handling cargo that should ideally be managed by a national fleet. During the inauguration of the new executives of the Shipowners Association of Nigeria in Lagos, Hassan Bello, a former Chairman of the National Fleet Implementation […]
Technology startups serve as more than just catalysts for growth; they are the very engine driving growth itself. These startups tackle issues that other sectors overlook, employing innovative approaches that propel society forward while simultaneously generating employment, stimulating economic activity, and attracting foreign investment. In today’s dynamic economic landscape, technological innovation is recognized as a […]
Chery, the esteemed automotive brand synonymous with innovation and sophistication, thrilled residents of Lagos with an enchanting roadshow yesterday. The event commenced with an enthralling procession starting from the Carloha showroom and winding its way through scenic routes, including the iconic Third Mainland Bridge, Ikoyi, and Victoria Island, before reaching its culmination at the Palms […]
Since the enactment of the Petroleum Industry Act in 2021, there has been a notable transformation in Nigeria’s oil and gas sector. This legislation, passed by the National Assembly and signed into law by former President Muhammadu Buhari, stands as one of the boldest endeavors to revamp the petroleum industry in the country. The Act […]
The Central Bank of Nigeria has been encouraged to uphold recent measures and policies aimed at stabilizing the naira, as advocated by Babatunde Adeyemo, the Chief Executive Officer of Pelican Valley Nigeria Limited, in a statement issued on Thursday. He urged the federal government to take decisive action against those undermining the economy to maintain […]
Although Nigeria is not officially in a state of recession, the country is currently grappling with formidable economic hurdles. The depreciation of the naira, alongside soaring inflation rates, has rendered it arduous for numerous Nigerians to meet their financial obligations. Escalating food prices, attributed to insecurity in key agricultural regions, have hindered farmers from tending […]
On Thursday, queues for Premium Motor Spirit, commonly known as petrol, worsened in Abuja and neighboring Nasarawa and Niger states. The Nigerian National Petroleum Company Limited attributed this escalation to logistical challenges but assured that the issue had been addressed. Petrol scarcity persisted on Thursday in the Federal Capital Territory and several other Northern states, […]
The discontinuation of the subsidy on Premium Motor Spirit, commonly referred to as petrol, resulted in a rise in the statutory revenue allocations from the Federation Account, which were shared among the three tiers of government in 2023, reaching N10.14 trillion. According to data released on Tuesday by the Nigeria Extractive Industries Transparency Initiative (NEITI) […]
The Nigeria Customs Service, Federal Operations Unit, Zone A in Ikeja, Lagos, has revealed that it halted three trucks carrying 1,464 bags of foodstuffs destined for the Republic of Benin. Speaking to reporters at the command on Friday, Hussein Ejibunu, the Customs Area Controller in charge of the unit, stated that the intercepted goods, consisting […]
In a case heard at the Federal High Court in Ikoyi, Lagos, under the jurisdiction of Justice Chukwujekwu Aneke, an individual known as Olayiwola Nurudeen Junior, commonly referred to as a ‘Yahoo Boy’, has been convicted and sentenced to 12 months in prison for his involvement in internet impersonation and fraud amounting to $20,000. This […]
