Economy Archives — Page 115 of 185

June 25, 2020 No Responses

Customs Impounds 2,682 Bags Of Rice, 3,122 Live Ammunition, Others

The Nigeria Customs Service (NCS), Federal Operating Unit (FOU), Zone C, Owerri, Imo State has confiscated contrabands worth N442.5 million. NCS Controller in Imo, Mr Kayode Olusemire, made the disclosure while displaying the seized items on Thursday in Owerri. He...

June 25, 2020 No Responses

Sabrud Consortium Seeks Special Forex Regime For Meter Manufacturers

Sabrud Consortium, an indigenous electricity prepaid metre manufacturing firm, has urged the Federal Government to grant special forex regime to the sector. It also applauded the upward review of metre prices by Nigerian Electricity Regulatory Commission (NERC...

June 24, 2020 No Responses

Nigerian Breweries Shareholders Approve N16.1b Dividend For 2019

Nigerian Breweries shareholders have approved N16.1 billion as dividend for the financial year ended December 31, 2019, translating to N2.01 per share.. Chairman of the company,Chief Kola Jamodu in a statement on Wednesday explained that the approval was sec...

June 24, 2020 No Responses

NSE Market Capitalisation Drops Further By N50b

Weak sentiments and sell pressure continued on the Nigerian Stock Exchange (NSE) on Wednesday with the indices extending loses for the fifth consecutive trading session. Consequently, the key performance indices dropped further by 0.38 per cent due to sell-off...

June 24, 2020 No Responses

Delta Seaports To Receive Seven Vessels Laden With Diesel, General Cargoes

Seven ships conveying diesel and other items are expected at the Delta Seaports between June 25 and June 30, 2020. In its daily publication, ‘Shipping Position’, Nigerian Port Authority (NPA) on Wednesday explained that the vessels include MT Tornado...

June 23, 2020 No Responses

NIMASA, NPA Seal Partnership On Wreck Removal

The managements of Nigerian Maritime Administration and Safety Agency (NIMASA) and Nigerian Ports Authority (NPA) on Tuesday resolved to work out modalities for effective removal of all wrecks and derelicts that may hinder navigations in Nigerian waters. &nb...

June 23, 2020 No Responses

FG Tasks Public Servants On Accountability, Transparency

The Federal Government has challenged civil servants to be accountable and transparent in their services to the nation. Head of the Civil Service of the Federation (HOCSF), Dr. Folasade Yemi-Esan, who made the call in a video conference to mark the&...

June 23, 2020 No Responses

Unity Bank, Dangote Sugar Top Losers’ Table As Market Capitalisation Drops Further By N2b

The Nigerian Stock Exchange (NSE) on Tuesday extended negative mood with market capitalisation dropping by N2billion. Specifically, the market capitalisation which opened at N12.913 trillion shed two billion naira or 0.02 per cent to close at N12.911 trilli...

June 18, 2020 No Responses

Senate: Reopening Of Airports On June 21 Unrealistic

The Senate on Thursday, via its Committee on Aviation, said re-opening of the nation’s airports for operation on June 21 was unrealistic, following concerns raised by workers in the aviation industry. Chairman of the Committee, Sen. Smart Adeyemi (APC Kog...

June 18, 2020 No Responses

Wet Season: CBN To Empower 1.1m Farmers With N432b Loans

The Central Bank of Nigeria (CBN) has concluded plan to fund the value chains of nine commodities to the tune of N432 billion in the 2020 wet season. Mr Yila Yusuf, the Director, Development Finance Department of the CBN, disclosed...

June 18, 2020 No Responses

NPA Boss Inaugurates Emergency Response Team

The Management of Nigerian Ports Authority (NPA) has inaugurated an eleven (11) Member Emergency Response Team at it’s Corporate Headquarters, Marina, Lagos. According to NPA, the team would be strategic and respond immediately in case of emergencies at the ...

June 17, 2020 No Responses

NNPC’s Reserve To Hit 40b Barrels By 2023, Says Kyari

The Nigerian National Petroleum Corporation (NNPC) on Wednesday said its target is to grow the nation’s reserve to 40 billion barrels by the year 2023. Malam Mele Kyari, Group Managing Director, NNPC, disclosed this during the unveiling of 2D seismic...

June 17, 2020 No Responses

Nigeria To Unveil Single Window Project, Deploy Scanners At Seaports

As part of measures to curtail importation of fake and substandard products into the country in line with established protocols, plans are underway to operationalise the National Single Window project as well as deploy scanners at the nation’s seaports befor...

June 17, 2020 No Responses

BUA Threatens Dangote Group With Contempt Of Court

BUA Group on Wednesday threatened to initiate contempt of court proceedings against Dangote in three days, if it fails to remove the excavators and trenches used in barricading the entrance of Obu Mines. The BUA Group, in a statement in...