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FG slashes import, export documents at ports to boost ease of doing business, but…

economy issues

The stagnation of business activities at the ports which has reached crescendo may soon begin to rise if recent directives by the Secretary of the Presidential Enabling Business Environment Council (PEBEC), Dr. Jumoke Oduwole, are implemented. However, investigations by Business Hilights show that the key challenge to ease of doing business at the ports is not process of paying receipted ...

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Respite underway as inflation makes back-to-back decline by 0.52 % in March

Inflation rate

Technical recovery of the Nigerian economy seems insight as the National Bureau of Statistics (NBS), on Thursday, said inflation dropped by 0.52 percent in March, the second decline recorded on the year- on- year calculation. Initial decline was recorded in February when inflation dropped by 0.94 per cent. According to the latest Consumer Price Index for March released in Abuja, ...

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MAN, Shippers’ Council plan roadmap for ease of doing business, flexible ports regulation

hassan bello, NSC

More federal agencies and private sector operators have realized the imports of synergy and effective partnership to drive ease of doing business and seamless service delivery. In the maritime sector, new partnership is in the air following the recent working visit to the Nigerian Shippers’ Council (NSC) by the Director General of Manufacturers’ Association of Nigeria (MAN), Mr. Segun Ajayi-Kadir, ...

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Using taskforce to implement ERGP’ll lead to duplication of duties, confusion, failure—Expert

Udoma, Buhari, Adeosun

As soon as the Minister of Budget and National Planning, Senator Udo Udoma, said the newly launched Economic Recovery and Growth Plan (ERGP) would be driven by a task force to be constituted by the Federal Government, an economist, Mr. Salau Ibrahim has cautioned the plan, saying it will lead to confusion and eventual collapse of the plan’s target. He ...

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Momentary weakening of Naira shows it cannot be stable by only CBN’s intervention–Expert

economy issues

Ever since the Central Bank of Nigeria (CBN) started its almost daily intervention in forex liquidity, many pundits have continued to argue that the practice remained cosmetic and may not do the magic of forex stability. The naira weakened to 410 per dollar against the United States currency on Tuesday, down from 405/dollar recorded on Monday. This was despite the ...

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FG deepens boost for tomato production with new production policy

Tomato Plant

Barely one month after the Dangote Tomato factory resumed operations in Kano, the Federal Government on Tuesday announced a new policy for tomatoes to drive massive investments in the sub sector. The new policy is designed to grow the production by way of improving the value chain and attract more investments. Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, ...

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Dangote explains deepening investments in agricultural sector

Dangote

Leading industrialist and President of Dangote Group, Aliko Dangote said the new initiatives of Dangote Group in the agricultural sector would have a major impact on the economy within a very short time. Responding to media chat shortly after celebrating his 60th birthday with the closing gong of the Nigerian Stock Exchange (NSE), he said the group’s plan for the ...

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Customs set to issue licenses to new Bonded Vehicles Terminals

In keeping with its new drive to grow ease of doing business and seamless revenue build up, the Nigeria Customs Service (NCS) has given signals of increasing the number of Bonded Vehicles Terminals to ease congestions at ports. Service spokesman, Joseph Attah said the new move is to create ease in the automobile business and increase commercial activities by giving ...

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Again, Dangote restates confidence on economy, marks 60th birthday today in Lekki

President of Dangote Group, Aliko Dangote, has once again reconfirmed his belief in Nigeria economic potential, saying it remains unshaken. Already, President Muhammadu Buhari felicitated with Africa’s richest man and philanthropist on his 60th birthday yesterday (Monday). The business mogul told a group of businessmen in his office in Lagos that his passion for the workability of Nigeria’s economy had ...

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Don’t import rice in free trade zones but ports, CG of Customs warns operators

NCS logo

To limit chances of abuse of privilege using their facilities, the Comptroller-General of Nigeria Customs Service (NCS), Col. Hameed Ali (rtd), has banned rice import in trade free zones, insisting that rice imports remain at seaports. Public Relations Officer of the service, Mr. Joseph Attah, in a statement explained that the restriction became necessary because some operators were allegedly taking ...

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