Developing countries are expected to receive $275 billion out of the International Monetary Fund’s (IMF) $650 billion Special Drawing Rights (SDRs) to be distributed among member countries based on their quota shares in the IMF. IMF’s Managing Director, Ms Kristalina…
By Moses Adeniyi The Lagos State Government, has invested over N2billion on insurance premiums for life and non life coverings, Nigerian NewsDirect has gathered. According to the State’s Commissioner for Finance, Dr. Rabiu Olowo, who spoke at a Press Conference…
By Seun Ibiyemi The Acting Managing Director of the Nigerian Ports Authority (NPA) Mohammed Bello-Koko has assured that the management under his watch is working towards repositioning the nation’s seaports and the authority for greater efficiency, safety and accountability. The…
By Seun Ibiyemi Ship-owners in Nigeria have said, they won’t protest the non-disbursement of the Cabotage Vessel Financing Fund (CVFF), following the recent statement by the Minister of Transportation; Mr Rotimi Amaechi, that the disbursement is being withheld by the…
By Seun Ibiyemi The Nigerian Shippers Council (NSC) has said that vessels calling at Nigerian ports now spend 21-day at anchorage, compared to other neighbouring ports like Tema Port in Ghana where they spend 24-hour. This is even as the…
The Federal Government has said that adjustment of pump price of petrol is not taking effect immediately and the implementation of the Petroleum Industry Act (PIA) does not suggest an automatic increase in price of petrol. The Petroleum Products Pricing…
Federal Government and Russia have partnered to expand oil exploration in Lagos through the latter’s Lukoil Company Nigeria Limited, and operator of the OML 140 Oil Block. The decision was made public when Nigerian Ambassador to the Russian, His Excellency…
Africa will see the establishment of its first dedicated renewable energy yieldco. UK Climate Investments fulfilled its cornerstone commitment of $34 million into the yieldco that will be managed by Revego Fund Managers. Clean, reliable and affordable energy can be a critical…
The lingering strike by Doctors under the aegis of the National Association of Resident Doctors (NARD) has not taken a halt 22 days after the industrial action took off on the 2nd of August, 2021. It appears the health professionals…
By Kayode Tokede Trading in the equities market of the Nigerian Exchange Limited (NGX) continued on last week’s bearish performance, as selloffs in Lafarge Africa, PZ Cussons Nigeria and, nine others triggered the market’s loss. The negative performance was buoyed…
