Maritime Security Not Within Your Mandate, Jonathan’s Aide Tells Amaechi

Former Senior Special Assistant to former President Goodluck Jonathan on Maritime Affairs, Leke Oyewole, has faulted the position of the Minister of Transportation, Rotimi Amaechi, on the controversial Safe Anchorage Area (SAA) operated by Ocean Marine Solutions Limited (OMSL)...

Nigeria Faces Competition Amid Global LNG Supply Glut

Exporters of Liquefied Natural Gas, including Nigeria, have been told to brace for an oversupplied market and weaker-than-expected global demand depressing prices for their output for another two years. Nigeria, which is among the top 10 largest exporters of the...

FG Approaches China For $17bn Loans

The Federal Government on Tuesday explained why it decided to approach the China-Exim Bank for a $17bn loan request. It said other lending institutions like the World Bank and the African Development Bank were not showing much interest when Nigeria...

Customs investigate $8.07m seized at Lagos airport

The Nigeria Customs Service on Tuesday said it intercepted $8,065,612m (N2.92bn) at the Murtala Muhammed International Airport, Lagos. The Comptroller General of Customs, Col. Hameed Ali (retd.), said the cash which was in $100 denomination, was found sealed in 20...

Demurrage: Price Increase Looms, Importers Besiege SON

The inability of importers to upload the Standards Organisation of Nigeria’s Conformity Assessment Certificate on the Nigeria Customs Service trade portal, for the purpose of getting the Pre-Arrival Assessment Report, has entered the third week and the development is...

Budget Under Threat As Oil Sinks To $54

The international oil benchmark, Brent crude, plummeted to its lowest level in more than a year on Monday, trading below the Federal Government’s benchmark for the 2020 budget, as the coronavirus outbreak hit fuel demand in China. The 2020 budget,...

Amaechi: We’ll Ban Road Movement of Cargoes After Completing Rail Projects

Rotimi Amaechi, minister of transportation, says certain types of cargo will not be allowed to go by road after the completion of major rail projects across the country. Speaking at an economic event Deloitte organised in Lagos on Saturday, Amaechi...

NAMA Issues 30-day Deadline To Debtor Airlines, Airports

The Nigerian Airspace Management Agency has threatened to withdraw its services from some airlines, as well as private and state-owned airports over debts. The agency on Sunday said it had issued a 30-day ultimatum as notice to its debtors. According to...

Importers Face Demurrage As Seaport e-clearing Runs Into Hitch

Importers have cried out over their inability to clear their goods from the Lagos seaports in the last 12 days, resulting in unexpected demurrage cost. They lamented the difficulty in processing the electronic payment documents required to clear their goods...

Lagos Issues N100bn Infrastructure Bond

The Lagos state government says it has issued a N100 billion series III bond under its N500 billion bond issuance programme. Babajide Sanwo-Olu, the state governor, said the proceeds from the bond will be used to execute key infrastructure projects. Sanwo-Olu...