Economy FEC confirms ratification of Nigeria Customs mutual agreement with S/Africa The Federal Executive Council has confirmed the ratification of the Customs Mutual Administrative Assistance Agreement between South Africa and Nigeria. The Minister, Dr ... By maritimemagJanuary 28, 20220
Economy South-East residents paid highest average price for petrol in December—–NBS The South-East residents paid the highest average price for Premium Motor Spirit (PMS), popularly referred to as petrol, in December 2021, according to ... By maritimemagJanuary 22, 20220
Economy China’s central bank releases pilot version of digital yuan wallet As China’s central bank steps up its effort to create a digital currency, the country has released a pilot edition of its digital ... By maritimemagJanuary 7, 20220
Economy Nigeria recorded 37.1% trade deficit in Q3 2021—NBS With Nigeria’s total trade volume at about N13.24 trillion in the third quarter of 2021, the country’s trade deficit for the period stood ... By maritimemagJanuary 4, 20220
Economy How CBN’s five-year development plan will stimulate Nigeria’s economy The Director of Corporate Communications, Central Bank of Nigeria (CBN), Nwanisobi Osita, has said the five-year development plan embarked upon by the governor ... By maritimemagJanuary 3, 20220
Economy NPA appoints new General, Assistant – General Managers Abiola Seun The Nigerian Ports Authority (NPA) has announced the appointment of some senior staff, seven as General Managers and 10 as ... By maritimemagDecember 24, 20210
Economy Yuletide: Pressure on forex as Nigeria’s reserves falls to $40.66bn Abiola Seun Nigeria’s foreign reserve dipped $485.41 million to settle at $40.66 billion from $41.15 billion as of 1 December 2021. This is according to the latest figures obtained ... By maritimemagDecember 23, 20210
Economy Nigeria spends $1.41bn on food imports in eight months Abiola Seun The foreign exchange used for the importation of food products into Nigeria from January to August this year rose to $1.41bn ... By maritimemagDecember 6, 20210
Economy NEPC begins training of Nigerians on enhanced export trade Abiola Seun The Nigerian Export Promotion Council has intensified its engagement with farmers, food processors and stakeholders involved in export trade to increase ... By maritimemagDecember 2, 20210
Economy South-East traders kick against new increment in Customs import duty The South-East Amalgamated Markets Traders Association (SEAMATA), said it has rejected the recent increment in the import duty on cargoes charged by the ... By maritimemagDecember 1, 20210
Economy UN warns of soaring prices in 2022 due to freight rate spike The United Nations has warned that a surge in container freight rates could mean higher prices for consumers next year unless pandemic-fuelled problems ... By maritimemagNovember 22, 20210
Economy IMF asks Nigeria to remove fuel, electricity subsidies early 2022 to grow economy The International Monetary Fund (IMF) has advised the Nigerian government to fully remove fuel and electricity subsidies completely early next year and move ... By maritimemagNovember 21, 20210
Economy Border closure retaliation drops import from Benin Republic to 95 percent Abiola Seun In what could be regarded as retaliation of the land border closure by the federal government, the government of Benin Republic ... By maritimemagNovember 4, 20210
Economy Buhari laments $1.5trn Infrastructure gap Abiola Seun President Muhammadu Buhari has said that Nigeria needs a cumulative of $1.5 trillion dollars over the next ten years, to achieve an ... By maritimemagNovember 3, 20210
Economy FIRS to beam searchlight on aviation, maritime operators over tax evasion Aniola Seun The Federal Inland Revenue Service (FIRS) has stated that it will commence back-end tax audit on operators in the maritime and ... By maritimemagNovember 2, 20210
Customs & Excise AfDB criticises Nigeria’s imports substitution policy Abiola Seun The President of the African Development Bank (AfDB), Dr Akinwunmi Adesina, has faulted Nigeria’s ‘imports substitution’ economic model that tends to ... By maritimemagOctober 28, 20210
