Sunday, November 28, 2021
Economy

Economy

Nigeria’s Economy Grows By 4.03% In Q3, 2021 — NBS

Mr Simon Harry, the Statistician-General of the Federation and Head of National Bureau of Statistics, has declared that the nation’s economy grew by 4.03 per cent in the Third Quarter of 2021. He made the announcement on Thursday in Abuja...
‘It’s cheaper to transport a container from China to Lagos than Lagos to Kano’

‘It’s cheaper to transport a container from China to Lagos than Lagos to Kano’

The Chairman of BUA Group, Abdul-Samad Rabiu, has said that it is cheaper to transport a container from China to Lagos than from Lagos to Kano. Rabiu merely echoes what many maritime industry stakeholders have said over and over again....

Nigeria’s inflation rate drops to 15.99%

The consumer price index (CPI), which measures the rate of change in prices of goods and services, declined for the seventh consecutive time to 15.99 percent in October 2021. The figure is 1.76% points higher than the 14.23 percent recorded...

Moving goods within Nigeria 5 times costlier than US — World Bank

The World Bank says it costs more to move goods locally in Nigeria than in the United States of America, stating that the cost of moving goods (per unit distance) domestically in Nigeria is about 5.3 times higher than...
Nigeria’s Total Trade Hits N12.03Trillion In Second Quarter

Nigeria’s Total Trade Hits N12.03Trillion In Second Quarter

Checks by Shipping Position Daily has revealed that Nigeria’s total trade at the end second quarter of 2021 stood at N12.03 trillion with total import for the quarter under review valued at N6.95 trillion and exports valued at N5.08...
The Shipping Trade Practitioners Association of Nigeria (STPAON) has pledged to boost shipping activities at Cross River, Rivers, and Delta states, popularly known as the Eastern ports. shipping The shipping ports are in Calabar, Onne and Warri, of the three respective states. The Patron of STPAON, Mr Kenneth Nwulu, made the pledge at the inauguration of Executives of STPAON Onne Port Chapter in Onne, Rivers on Friday. He said the opening of STPAON’s chapter in Onne port was targeted towards ensuring full shipping activities return to the ports in the eastern zone. “The essence is to bring more life into the shipping industry; balance economic activities in the nation’s ports as well as ensure a unified billing system in all the nation’s ports. “We want all the ports in the Eastern zone to become functional especially as Calabar and Warri ports have been lying fallow for several years without use. “So, we are here to bring the Federal Government’s attention to the known constraints, with focus to resolving them and drawing huge traffic to Calabar, Onne and Warri ports,” he said. Nwulu said the group would provide an administrative framework at the STPAON branch at Onne port, to enable stakeholders’ key into the vision of the association. He said the association was concerned over the decaying infrastructure of the 105-years-old Port Harcourt port and sued the Federal Government to rehabilitate the port. “We are worried about the safety condition of the port, and as such, call on the Federal Government to immediately commence rehabilitation of the Port Harcourt port. “Similarly, we call on the government to urgently commence rehabilitation of the other eastern ports, to make trade easy for local and international traders,” he added. Read Also: LASG Trains 100 Pupils On Waterway Safety The President of STPAON, Isreal Oyina said the association was also planning to open its branches at Calabar, Warri and Lagos ports. According to him, the opening of STPAON at Onne port meant that members now have a union that would protect their lawful activities at the port. “The association will ensure that some of the known anomalies in the industry would be corrected and done the right way,” Oyina noted. On his part, Mr Kazeem Adebisi, the President of STPAON in Onne Port, said the newly inaugurated executives would immediately swing into action to improve ease of doing business at the port. Adebisi said that members would bring up programmes to ensure consignees, ship owners and charterers become confident in doing business at the port. “This is because the more export business we do at the Onne port, the more it becomes beneficial to the nation’s economy,” he said.

Shippers’ Move To Improve Shipping Activities In Onne, Warri Ports

The Shipping Trade Practitioners Association of Nigeria (STPAON) has pledged to boost shipping activities at Cross River, Rivers, and Delta states, popularly known as the Eastern ports. The shipping ports are in Calabar, Onne and Warri, of the three respective...
How Ministry Of Transportation Allegedly ‘Padded’ 2022 Budget With Duplicated Provisions, Curious Projects, Others

How Ministry Of Transportation Allegedly ‘Padded’ 2022 Budget With Duplicated Provisions, Curious Projects, Others

Investigations by Shipping Position Daily have revealed how the Ministry of Transportation may have padded the 2022 proposed budget with duplicating provisions, including allocations for humongous projects and provision for some parastatals under the ministry in the budget that...
Over 50% Of Cooking Gas Users Have Switched To Firewood, Charcoal – Retailers

Over 50% Of Cooking Gas Users Have Switched To Firewood, Charcoal – Retailers

The Liquefied Petroleum Gas Retailers (LPGAR), branch of National Union of Petroleum and Natural Gas Workers (NUPENG), says over 50 per cent of cooking gas users in rural areas have switched back to firewood and charcoal. It’s National Chairman, Mr...
LADOL MD Joins UNCTAD and GIZ to Launch “Handbook on Special Economic Zones in Africa

LADOL MD Joins UNCTAD and GIZ to Launch “Handbook on Special Economic Zones in...

The Managing Director of LADOL Free Zone, Dr Amy Jadesimi, has joined a high-level panel convened by UNCTAD (The United Nations Conference on Trade and Development) and GIZ (Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH), under the auspices of the...
Nigeria, Turkey trade volume to expand by $5bn — Erdogan

Nigeria, Turkey trade volume to expand by $5bn — Erdogan

Turkish President, Recep Tayyip Erdogan, on Wednesday expressed hope that the value of trade between his country and Nigeria would expand to USD5 billion “immediately”. Speaking when he addressed journalists at the end of a closed-door bilateral meeting with President...

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Pandemonium as gunmen storm Ebonyi community in the daytime

Gunmen stormed Onueke Community in Ezza South Local Government Area of Ebonyi state. The gunmen arrived on Tuesday afternoon, April 27, shooting sporadically as...

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