LCCI kicks as CBN retains monetary policy rate at 14%, others unchanged
The Lagos Chamber of Commerce and Industry (LCCI) has frowned at the retention of Monetary Policy Rate at 14 per cent, saying “The retention of the rates is only good for portfolio investors and this economy is tired of such…
Amaechi avoided issues on national fleet but pledges to harness seas, oceans potentials
Expectations of critical maritime stakeholders were dashed between Monday and Tuesday as the Minister of Transportation, Mr. Rotimi Amaechi, avoided discussions and the highly needed updates on the level of planning for the new national fleet to drive maritime hub…
Twist as FG fast forwards to nail 7 banks over alleged TSA infractions
…Serves notice of forfeiture order on banks Efforts of the Federal Government in tracking down the seven banks who allegedly failed to transfer about $793.2m belonging to some federal agencies to the Treasury Single Account (TSA) became more serious on…
Only 10.93% of Nigerian workers registered under pension scheme in Q2 – NBS
Fresh figures from the website of the National Bureau of Statistics (NBS) has shown that only 10.93 per cent of the total working population under the pension scheme. The details further revealed that the Retirement Savings Account (RSA) membership distribution…
Benue, group seal MoU on free trade zone to employ 10,000 youths
More states are now drawing Free Trade Zone (FTZ), inspirations from Lagos, Delta and Rivers States to drive their state economies. Latest in the row is Benue State Government who has signed a memorandum of Understanding (MoU) with Golden Shalke…
Senate hails CBN for new scanners, warns Customs against abuse, damage
Indications have emerged that delays and logistic challenges frustrating examinations and revenue leakages at the ports due to failed scanners are now over. This stemmed from the acquisition of Hi-Definition scanners and platform to check foreign exchange leakages and other…
Wet vessel demurrage to end in Apapa as Oando commission’s new jetty
The recent commissioning of Oando Plc’s , mid- stream Jetty in Apapa, Lagos is set to drive out constraints often associated with the discharge of petroleum products, within the Apapa corridor and save $120 million in demurrage annually. Industry pundits…
7 plants idle, Fashola silent as power generation collapses below 3,000MW
That the nation’s power generation has fallen below the 3,000 megawatts mark is no more news, rather the number of idle power plants has risen to eight at the last count. However, effort to get the views of the Minister…
Renewed hostilities forces Shell to shut down key supply pipeline
Nigerian’s quest to increasing daily oil output on Tuesday, suffered a setback as Anglo-Dutch energy giant Shell said it has shut down a key crude supply pipeline in Nigeria’s restive south because of a leak. Shell subsidiary the Shell Petroleum…
FG may be on daily loss of N58bn if production exceeds 1.8mbpa
With Nigeria agreeing the Organisation of Petroleum Exporting Countries’ (OPEC) new condition not to cross 1.8mbpa, the country may begin to lose about N58bn daily if oil production exceeds the new mark. Though it was a voluntary agreement with OPEC…
