The Manufacturers Association of Nigeria (MAN) threw its weight behind the Federal Government’s proposed reform of free-trade zone operations in Nigeria. It said it will ensure equitable tax treatment for companies operating in the customs territory and those licensed to operate within the free zones with respect to sales into the customs territory, thereby enabling…
The Nigerian Maritime Administration and Safety Agency (NIMASA) has reaffirmed its commitment to fostering a level playing field and creating an enabling environment to strengthen businesses in the maritime sector. The Director-General of NIMASA, Dr Dayo Mobereola, gave the commitment while receiving the Executive Members of the Nigerian Merchant Navy Officers and Water Transport Senior…
Transcorp Power Plc has announced plans to generate 25 per cent of the electricity consumed in Nigeria in the near future, up from its current share of 12 per cent. Chairman of the Board of Directors, Mr. Emmanuel Nnorom, made this disclosure in Abuja on Tuesday during the company’s Annual General Meeting (AGM). “The power…
The Federal Government has reiterated its commitment to fostering an enabling environment for private sector-led investments to drive economic growth, particularly in the agricultural sector. The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, gave this assurance during a meeting with the Managing Director of Olam Agri, Mr. Anil Nair, in…
The Group Chief Executive Officer (GCEO), Nigerian National Petroleum Company Limited (NNPCL), Malam Mele Kyari has said the country has the potential to grow more than $1 trillion Gross Domestic Product (GDP) which is the target of President Bola Tinubu. Speaking at the ongoing 2025 Nigerian International Energy Summit (NIES) in Abuja, he said $1…
The Federal Government said the introduction of the sale of crude oil in Naira was a strategic move to enhance operational efficiency of local refineries by reducing foreign exchange risks and transaction costs. President Bola Tinubu disclosed this while officially declaring the eight edition of the Nigeria International Energy Summit (NIES 2025) open in Abuja…
Fresh crisis looms in the nation’s maritime sector as dock workers unions including truck drivers are threatening to shut down the Lagos ports over alleged extortion by the state’s enforcement agencies. But while the unions have issued the warning, another key industry body, Council of Maritime Transport Unions and Associations (COMTUA), has dissociated itself from…
The Federal Government said it plans to construct an 80-metre span bridge in front of the Dangote Refinery as part of Section 2 of the Lagos-Calabar Coastal Highway project. This development aims to ensure seamless movement of trucks accessing the refinery without obstruction. The Minister of Works, David Umahi, disclosed this during the Lagos-Calabar Coastal…
The Nigeria Customs Service (NCS) has canceled the declarations it made during implementation of the four per cent Free on Board (FoB) charges. NCS consequently urged stakeholders to recapture their entries. National Public Relations Officer, Assistant Comptroller -General of Customs, Abdullahi Maiwada disclosed this in a statement. He said: “Sequel to the earlier press release…
