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Business
The Director-General of the National Pension Commission (PenCom), Omolola Oloworaran, has announced that pension fund assets in Nigeria reached N21.92 trillion as of October 2024, although challenges continue to affect the industry. Oloworaran made this announcement on Thursday, highlighting that these challenges are being addressed through various initiatives, including a comprehensive review of the Investment ...
Maritime
…Their safety is a fundamental right" - Mobereola. …..as Agency launches document on Reviewed Minimum Standards for Dock Labour. The Nigerian Maritime Administration and Safety Agency (NIMASA) today declared that the safety of dockworkers in their workplace is a right and not a privilege, and urged employers of labor to renew their commitment to improved ...
Maritime
In a bid to galvanise port concessionaires and terminal operators into increasing their in-country investments in port infrastructure and equipment, the Managing Director of the Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, has undertaken an operational and investment campaign tour of the Onne and Rivers Port Complexes. This visit, which follows his earlier tour of ...
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Maritime
Stakeholders and experts in the nation’s maritime sector have expressed support for the Coast Guard Bill before the National Assembly, with many describing the proposed legislation as a boost to the federal government’s efforts in securing maritime space. Speaking at a public hearing convened by the Senate Committee on Marine Transport to discuss the proposed ...
Top Story
...ICPC saved FG over N10bn in 2024, recovered N50bn since 2019 — Chairman The Federation Account has witnessed a 45 percent increase in revenue since President Bola Ahmed Tinubu assumed office. This is according to Chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Dr. Mohammed Bello Shehu. Speaking at a press briefing in ...
Maritime
The Africa Association of Professional Freight Forwarders and Logistics of Nigeria (APFFLON) has distanced itself from the recent legal action taken by four of the five self-accredited freight forwarding associations against the Minister of Marine and Blue Economy, Gboyega Oyetola, over the appointment of Mr. Kingsley Onyekachi Igwe as the substantive Registrar/CEO of the Council ...
News
The Nigerian Civil Aviation Authority (NCAA) has vowed to sanction any airline that delays ticket refunds to passengers. The NCAA’s Director of Public Affairs and Consumer Protection, Mr. Michael Achimugu, made this known in a statement issued on Tuesday in Abuja. Achimugu emphasised that compliance with ticket refund regulations is central to the NCAA’s consumer ...
Aviation
For the first time, Nigeria has been removed from the list of countries with blocked airline funds, according to the International Air Transport Association (IATA). The association reported that $1.7 billion in airline funds remain trapped globally as of October 2024, reflecting a slight improvement from $1.8 billion reported in April. Over the past six ...
Business
.Increased oil production, other indices to boost revenue — Edun tells Reps The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has announced that the government plans to borrow N9.3 trillion and allocate N2 trillion for debt servicing in the 2025 fiscal year, reflecting ongoing efforts to stabilize the economy while managing ...
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...Invites Governors against bill to participate in public hearings Senate President Godswill Akpabio has clarified that the four tax reform bills sent by President Bola Tinubu to the National Assembly have neither been suspended nor withdrawn. Akpabio responded to criticism from state governors opposed to the bills, urging them to present their concerns at the ...
Business
The Nigerian Senate has suspended action on the tax reform bills and constituted an ad-hoc committee that would engage with the federal government to resolve the contentious areas in the bills before further legislative action. The deputy Senate president, Barau Jibrin, who presided over the plenary session on Wednesday, announced that the committee will be ...
Maritime
The Nigerian Maritime Administration and Safety Agency (NIMASA) has called for innovative financing models as a critical driver for sustainable development in Africa’s maritime industry. This statement was delivered by NIMASA’s Director General, Dr. Dayo Mobereola, during the 7th Association of African Maritime Administrations (AAMA) Conference held in Dar es Salaam, Tanzania. Dr. Mobereola highlighted ...
Maritime
In an effort to alleviate the economic burden on exporters using the Tin-Can Island Container Terminal (TICT) at the Tin-Can Island Port, the Nigerian Shippers’ Council (NSC), the country’s port economic regulator, has directed TICT to cease charging delivery fees on all export cargoes. The NSC has instructed TICT to ensure that all tariff invoices ...
News
The Minister of Marine and Blue Economy, His Excellence, Alhaji Adegboyega Oyetola is set to join other participants at the Nigerian NewsDirect 14th year anniversary lecture and NewsDirect Good Governance Awards on Friday. The prestigious event will take place on December 6, 2024, at the Oriental Hotel in Lekki, Lagos. This year’s theme, “Achieving Economic ...
Money market
...Issues two Eurobonds to plug 2024 budget deficit Nigeria has successfully returned to the international bond market after a two-year hiatus, issuing two significant Eurobond offerings to help plug the country’s 2024 budget deficit. The Federal Republic of Nigeria launched a dual-tranche Eurobond offering under its Global Medium Term Note Programme, raising a total of ...
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...Atiku urges transparency, calls for inclusive stakeholder engagement ...Dep. Senate President defends bills, dismisses critics as misunderstanding legislation ...PDP chieftain warns that new reform could deepen Northern poverty, aggravate insecurity Governor Babagana Umara Zulum of Borno State has warned that the proposed new tax reform bill, if passed into law, will have dire economic consequences ...
Business
The Managing Director and Chief Executive Officer of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Bello Hassan, has called for the integration of Artificial Intelligence (AI) technologies to strengthen fraud detection systems in Nigerian financial institutions. Speaking at the Risk Management Roundtable organized by the Financial Institutions Training Centre (FITC), Mr. Hassan emphasised the growing ...
News
The Chartered Institute of Directors Nigeria (CIoD Nigeria) has unveiled significant governance reforms aimed at improving operational efficiency, promoting inclusivity, and aligning with global best practices. These changes come following the enactment of the Chartered Institute of Directors Nigeria (Establishment) Act, 2023, which granted the organization its Charter Status. The reforms were announced by the ...
Maritime
The Director General of the Nigerian Maritime Administration and Safety Agency, (NIMASA), Dr. Dayo Mobereola, has declared that innovative financing models will serve as a catalyst for achieving sustainable development in the African Maritime industry. Mobereola, who stated this while speaking at the 7th Association of African Maritime Administrations (AAMA) conference in Dar es Salaam, ...
News
…set-up investigation panel The National Inland Waterways Authority (NIWA) has sent an emergency rescue team to search for missing passengers as a merchant boat capsized in the waters of Ebe community in Kupa South Local Government Area of Kogi State in the early hour of Friday ,29th November, 2024. Findings by NIWA indicate that the ...
