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The Nigerian Maritime Administration and Safety Agency (NIMASA) has sealed off ShellPlux and TMDK Terminals, both located in the Ijegun-Egba area of Lagos, over their persistent failure to comply with the International Ship and Port Facility Security (ISPS) Code. As the Designated Authority for enforcing the ISPS Code in Nigeria, NIMASA took the enforcement action ...
News
The Minister of Marine and Blue Economy, Adegboyega Oyetola, has pledged to eliminate Nigeria’s reliance on imported fish by significantly expanding local fish production through a comprehensive national strategy. Speaking in Abuja on Wednesday during a high-level consultative meeting with fisheries cooperative groups, Oyetola outlined an ambitious roadmap to transform Nigeria’s aquaculture sector into a ...
Business
...As CPPE commends inflation slowdown, flags worrying price pressures, policy gaps Nigeria’s headline inflation rate dipped to 22.22 per cent in June 2025, according to the latest Consumer Price Index (CPI) and Inflation Report released by the National Bureau of Statistics (NBS) in Abuja on Wednesday. The figure represents a decline of 0.76 percentage points ...
Business
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has signed a $3.5 billion Memorandum of Understanding (MoU) with the Akwa Ibom State Government and the Gas Aggregation Company of Nigeria (GACN), marking a major step towards accelerating gas-based industrial development in the South-South region. The signing took place during the opening session of the South-South ...
Business
President Bola Ahmed Tinubu has directed relevant federal agencies to take decisive steps in response to the recent visa policy changes by the United States and the United Arab Emirates affecting Nigerian citizens. This directive was disclosed in a statement issued on Tuesday in Abuja by Mr Bayo Onanuga, Special Adviser to the President on ...
Business
…Cites PIA success in attracting $16bn investments The House of Representatives has restated its firm determination to put an end to crude oil theft, a persistent threat that is draining approximately $79.4 million from Nigeria’s economy each day. Deputy Speaker, Hon. Benjamin Okezie Kalu, made this known on Monday in Abuja at the 2025 General ...
Business
The Nigerian Aviation Handling Company Plc. (NAHCO) Export Packaging and Processing Centre (NEPPC) has received firm backing from the Nigeria Customs Service (NCS) in its mission to transform the country’s commodity export landscape. This assurance was given by the Controller-General of Customs, Mr Adewale Adeniyi, during a recent inspection of the NEPPC facility in Lagos, ...
Business
The Chief Executive Officer of Aero Contractors, Captain Ado Sanusi, has criticised the Federal Government’s approval of a $300 helicopter landing fee, warning that it could open the door to arbitrary charges across the aviation sector. Speaking to journalists on Sunday in Lagos, Sanusi described the charge as unjustified and cautioned that if allowed to ...
Business
Barely three years after restricted usage, Nigerian banks have reinstated the ability for citizens to use naira-denominated debit cards for international transactions. A policy shift that signals renewed confidence in the nation’s foreign exchange market and a pivotal moment for the country’s digital economy. Recall that Nigerian banks last week resumed international usage of naira ...
Business
The Presidency has dismissed reports suggesting that Nigeria has suspended the issuance of five-year multiple-entry visas to United States citizens, reaffirming its adherence to existing bilateral agreements and the principle of diplomatic reciprocity. In a statement issued on Thursday in Abuja, Presidential Spokesperson Mr Bayo Onanuga described the reports as “false and misleading,” maintaining that ...
Business
...Handles 20% of projected cargo Lekki Deep Seaport, Nigeria’s first deep-sea port, has commenced full-scale transhipment operations to key ports in neighbouring West African countries, including Ghana, Togo, and Abidjan in Côte d’Ivoire, marking a major milestone in Nigeria’s maritime development. Speaking during a media parley on Thursday, the port’s Deputy Chief Operating Officer, Mr ...
Business
…As NSC Cooperative records N156.4m Net Surplus, announces higher dividends amid economic uncertainty The Executive Secretary and Chief Executive Officer of the Nigerian Shippers’ Council (NSC), Akutah Pius Ukeyima, MON, Esq, has called on members of the Council’s cooperative society to embrace long-term, high-yield investments as a strategy for building sustainable wealth and financial security. ...
News
The Lagos State Waterways Authority (LASWA) on Tuesday, 9 July 2025, convened a high-level engagement session with the Presidential Initiative on Compressed Natural Gas (Pi-CNG), RIL Hydro Kraft Limited, leading boat operators, and key marine stakeholders across the state to discuss the integration of cleaner fuel alternatives into the inland water transport sector. Held at ...
News
Africa’s leading e-commerce platform, Jumia, has announced a strategic alliance with Mirakl to roll out Mirakl Ads , a cutting-edge retail media solution designed to transform marketplace advertising across the continent. This partnership marks a significant step forward in Jumia’s digital innovation drive, equipping both first-party and third-party vendors with advanced, AI-powered advertising capabilities while ...
Business
The Sea Empowerment and Research Centre (SEREC) has appealed to the Federal Government to collaborate with international insurance providers to reassess Nigeria’s maritime risk profile and renegotiate the war risk insurance premiums imposed on vessels bound for Nigerian ports. This appeal was contained in a communiqué released on Wednesday in Abuja by SEREC’s Head Researcher, ...
Business
...Bans transit visa applications...As FG expresses concern over U.S. new visa regime for Nigeria The United Arab Emirates (UAE) has introduced stringent new visa restrictions for Nigerian travellers, further complicating access to one of the Middle East’s most popular destinations for tourism and business. Multiple travel agents confirmed on Tuesday that, under revised directives from ...
Business
The Nigerian Presidency has criticised the International Monetary Fund (IMF) over what it described as excessive and at times overstated commentary on Nigeria’s economic trajectory, particularly in relation to recent reforms, inflation trends, and poverty rates. Speaking during an appearance on Channels Television’s Morning Brief on Tuesday, Special Adviser to President Bola Tinubu on Economic ...
Business
The Independent Media and Policy Initiative (IMPI) has expressed strong confidence that the newly signed Nigeria Tax Act (NTA) 2025 will play a pivotal role in attracting foreign direct investment and generating employment across multiple sectors of the economy. In a statement issued on Tuesday, IMPI Chairman Dr Omoniyi Akinsiju described the legislation, which will ...
Business
The House of Representatives Committee overseeing the Nigeria Maritime Safety, Education and Administration (NIMASA) has approved the agency’s proposed revenue target of ₦774.77 billion for the 2025 fiscal year, despite raising concerns over its achievability. At the budget defence session held on Monday, the committee’s chairperson, Hon. Khadijat Abba-Ibrahim, queried the agency’s ability to meet ...
Business
Nigeria’s telecommunications sector is under growing pressure from skyrocketing diesel prices, with each major operator reportedly spending between ₦5 billion and ₦10 billion monthly to fuel thousands of base stations across the country. Speaking with Nigerian NewsDirect, Former President of the Association of Telecommunications Companies of Nigeria (ATCON), Mr Tony Izuagbe Emoekpere, cautioned that surging ...
