By Moses Ebosele – The African Securities Exchanges Association (ASEA) and African Development Bank (AfDB) have signed a Memoradum of Understanding (MoU) aimed at developing capital markets within the continent. Prominent among those who attended the ceremony held recently at…
Nigeria canvasses technical cooperation with IMSO
By Moses Ebosele – The Federal Government has sought greater technical cooperation with the International Mobile Satellite Organisation (IMSO) as part of measures to enhance the performance of the country’s Long Range Identification and Tracking of Ships (LRIT) system….
Controversy trails appointment of new NPA MD
By Moses Ebosele – The appointment of Hadiza Bala-Usman as Managing Director of the Nigerian Ports Authority (NPA) has continued to generate controversy within and outside the maritime sector. While some Nigerians commend President Muhammadu Buhari for approving the…
Govt, oil workers may conclude negotiation today
REPRESENTATIVES of the Federal Government and Oil Workers may conclude negotiation today. Meanwhile, the ongoing strike embarked upon by members of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) is yet to be called off. Briefing Journalists…
Nigeria’s economy may shrink this year, says IMF
The International Monetary Fund (IMF) has predicted that Nigeria’s economy will most likely contract this year as energy shortages and the delayed budget weigh on output. The IMF Country Representative in Nigeria, Gene Leon, said:“I think there is a…
NSE unveils sustainability report, adopts GRI reporting guidelines
By Moses Ebosele The Nigerian Stock Exchange (NSE) has released its 2015 Sustainability Report titled “Ushering in a new era of sustainability in the Nigerian market place”. The report, which is in its second edition, according to NSE demonstrates…
FIFA President, Secretary-General To Visit Nigeria
President of world football governing body, FIFA, Mr Gianni Infantino and the Secretary-General, Ms Fatma Samoura, will arrive in Nigeria on July 24 on a two-day working visit. This is contained in a statement on the website of the Nigeria…
Shipowners reject EU Ship Recycling Licences
The European Community Shipowners’ Associations (ECSA) and the International Chamber of Shipping (ICS), which represent over 80% of world merchant tonnage, have rejected the concept of the ship recycling license, developed by consultants for the European Commission. According to ECSA, if…
Shell, Keppel Offshore form LNG Bunkering JV
KS Investments Pte Ltd, a wholly-owned subsidiary of Keppel Offshore & Marine Ltd, has entered into a shareholders agreement with Shell Eastern Petroleum, a part of Royal Dutch Shell, to form a joint venture company which will establish an LNG…
Auto dealers under scrutiny over alleged fraud
By Moses Ebosele The Federal Government through Nigeria Customs Service (NCS) has commenced full scale investigation to unravel the identities of automobile dealers responsible for alleged under-declaration at the nation’s seaports. Specifically, City BusinessNews gathered yesterday that the…
Chinese investment in Africa’s power sector hits $13b
By Moses Ebosele THE Chinese Government and its state-owned companies have invested not less than $13billion in the development of power sector in sub-Saharan Africa between 2010 and 2015. According to a new report put together by the International Energy…
NSE’s 123 equities remain unchanged as two trading sessions record 377.798 million shares
By Moses Ebosele One hundrend and twenty three equities remain unchanged last week as the Nigeria Stock Exchange (NSE) opened for two trading sessions. The stock market opened for two trading sessions as the Federal Government declaredTuesday 5th, Wednesday 6th…
Nigeria seeks partnership with IMO
By Moses Ebosele TO sustain development in the maritime sector, the Minister of Transportation, Chibuike Rotimi Amaechi has expressed Nigeria’s commitment to further partner the International Maritime Organisation (IMO). Speaking in London recently when he paid a courtesy visit to the…
Customs Zone ‘C’ command impounds 90 vehicles, 2,758 bags of rice, others
By Moses Ebosele Between January and June, this year, the Federal Operations Unit (FOU) of Nigeria Customs Service (NCS), Zone ‘C’, Owerri, impounded 169 contrabands worth N1.3billion. Among the items include 90 vehicles; 2,758 bags of rice; 4,160 pieces…