THE Federal Government has signed $11.117b contract agreement with the China Civil Engineering Construction Company (CCECC) for the construction of the Lagos-Calabar railway line. According to the minister of Transportation, Rotimi Amaechi, the first segment of the rail line, which…
FG unveils standard operating procedures for seaports
THE Federal Government has unveiled Standard Operating Procedure (SOP) and Port Services Support Portal (PSSP) for Nigerian Ports. Vice President, Yemi Osinbajo who performed the ceremony recently explained that the concept put together by the Nigerian Shippers’ Council (NSC) is…
Partnership with maritime nations key to economic growth, says NIMASA DG
COLLABORATION with various stakeholders across the globe is fundamental to unlocking the maritime opportunities in Nigeria, Director General, Nigerian Maritime Administration and Safety Agency (NIMASA), Dakuku Peterside has said Welcoming the Acting Chinese Consul General, Mr. Li Yong to…
Buhari opposes social media bill
Citing the commitment of his administration to protect free speech in keeping with democratic tradition, President Muhammadu Buhari has pledged not to assent any legislation that might be inconsistent with the constitution. Reacting to the public outcry against the bill,…
FG Proposes N6tri Budget For 2016
For the fiscal year 2016, the Federal Government has proposed a budget of N6 trillion, allocating 30 percent of the budget to capital expenditure. It has also approved and submitted the Medium Term Expenditure Framework ( MTEF), to the National…
Oando gets approval to raise N80b
Shareholders of Oando Nigeria Plc have approved the company’s quest to raise N80 billion by way of rights issue to existing shareholders. The shareholders also approved plan to divest any or all shareholding and investment in the downstream business…
NAICOM delists 108 insurance brokers
The National Insurance Commission has removes 108 insurance brokers, out of the list of 421 licensed practitioners operating in the country, for failing to renew their licences. Sources from NAICOM told The Punch that the affected brokers had been operating…
Govt proposes partial for refineries
As part of measures to operate refineries as profitable ventures, the Federal Government has concluded plans to grant semi-autonomy to the entities. Meanwhile, the Federal Government has expressed its readiness to raise funds from international investors and the private…
MTN to pay N780b, not N647b, says NCC
The Nigerian Communications Commission has clarified that the fine of N1.04trillion imposed on the MTN Group was reduced by 25 per cent, and not 35 per cent as initially reported. According to NCC, the company will now have to pay…
NIMASA shuts Jetties in Port Harcourt, Calabar
The Nigerian Maritime Administration and Safety Agency (NIMASA) exercising its powers as the Designated Authority (DA) for the implementation of the International Ship and Port Facility Security (ISPS) Code has shut the Magcobar Manufacturing Limited jetty at Reclamation Road Port…
Super Eagles drops to 66th position
The Super Eagles of Nigeria have dropped seven places to 66th in the latest Fifa world ranking released on Thursday morning. The Super Eagles gathered a total of 541 points to fall to no. 14 in Africa behind Cote d’Ivoire,…
FAAN pledges more allowances for staff
The management of the Federal Airports Authority of Nigeria (FAAN) has agreed to increase allowances and claims for workers in the agency. This was contained in a communiqué singed by leaders of three aviation unions and the management team of…
FG reduces MTN fine to N674b
The Federal Government through the Nigerian Communication commission (NCC) has reduced MTN fine from N1.otrillion to N674 billion. Meanwhile, the South African telecommunication giant has announced the resignation of the head of its Nigerian operations, Michael Ikpoki and the head…
LCCI to inaugurate Akande as president Saturday
The Lagos Chamber of Commerce and Industry (LCCI) has concluded plans to formally inaugurate Chief (Mrs.) Nike Akande, as President of the Chamber on Saturday 5th December, 2015 at an Investiture Ceremony billed to hold at the Grand Ball Room…