Category: Business
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LAGOS PORTS BUZZING WITH 20 SHIPS UNLOADING ESSENTIAL GOODS
The Nigerian Ports Authority (NPA) has announced that 20 ships are currently discharging petroleum products and food items at Lagos ports including Apapa, Tincan, and Lekki. Cargo ranges from frozen fish and petrol to bulk sugar, fertilizers like urea, and construction materials such as gypsum. Additionally, two ships carrying bulk wheat and containers have arrived…
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NIGERIA TAKES STRONG STEP WITH 15% TAX ON IMPORTED PETROL AND DIESEL TO BOOST LOCAL REFINING
Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA) has praised the Federal Government’s decision to impose a 15% import tax on petrol and diesel, calling it a move that will grow the economy, promote local production, and create jobs for youth. ECCIMA President Sir Odeiga Jideonwo highlighted the negative impact of excessive importation on…
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GATES FOUNDATION COMMITS $1.4 BILLION TO HELP SMALLHOLDER FARMERS ADAPT TO CLIMATE CHANGE
The Bill and Melinda Gates Foundation has announced a $1.4 billion, four-year investment to support smallholder farmers across sub-Saharan Africa and South Asia in adapting to climate change. The announcement was made at the 30th UN Climate Change Conference (COP30) in Brazil. This funding will provide innovative tools such as AI-powered weather forecasts, digital advisory…
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NAFDAC BUSTS N30 MILLION EXPIRED BEVERAGES RACKET IN JOS, URGES PUBLIC VIGILANCE
The National Agency for Food and Drug Administration and Control (NAFDAC) has seized expired but deceitfully revalidated alcoholic and non-alcoholic beverages worth N30 million from shops in Jos. Kenneth Azikiwe, Director of NAFDAC North Central Zone, revealed suspects erased original expiry dates using chemicals and replaced them with fake markings to mislead consumers. Azikiwe warned…
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NIGERIA MUST ACT NOW TO UNLOCK MARITIME SECTOR’S BLUE ECONOMY POTENTIAL, SAY EXPERTS
Maritime experts at the 30th anniversary of Port News in Lagos have urged immediate action to harness Nigeria’s vast maritime potential for sustainable Blue Economy growth. Despite generating consistent revenue, the sector faces challenges like poor infrastructure, underinvestment, and a shortage of skilled maritime professionals. Publisher Wale Oni highlighted that while the Cabotage Vessels Finance…
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CSO COALITION URGES FG TO PROTECT SMALLHOLDER FARMERS FROM AGRO-INDUSTRIAL GIANTS
A coalition of civil society organisations has called on the Federal Government to shield Nigeria’s smallholder farmers—the backbone producing up to 70% of the nation’s food—from the risks posed by expanding agro-industrial corporations. Speaking at an Abuja rally, the group urged lawmakers and the Livestock Ministry to establish strong land protection laws, ensure thorough Environmental…
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INDIGENOUS CONTRACTORS SUSPEND PROTEST AFTER SENATE INTERVENTION, DEMAND PAYMENT OF 2024 DEBTS
The All Indigenous Contractors Association of Nigeria (AICAN) has paused its nationwide protest following the intervention of the Senate, led by spokesperson Sen. Adeyemi Adaramodu. The protest, demanding payment for over $3 billion worth of capital projects completed in 2024, had disrupted activities around the National Assembly. AICAN President Jackson Nwosu and Vice President Fredrick…
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FG TARGETS CLIMATE-RESILIENT CROPS TO BOOST FOOD SECURITY
The Federal Government is stepping up efforts to increase sustainable crop yields by focusing on climate-resilient and disease-tolerant crops that can withstand pests, diseases, and extreme weather. Minister of State for Agriculture, Sen. Aliyu Abdullahi, outlined these commitments at the 47th National Council on Agricultural and Food Security meeting in Kaduna, themed “Food Sovereignty and…
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BAUCHI STATE AGRICULTURAL DEVELOPMENT PROGRAMME (BSADP) RAISES ALARM OVER POST-HARVEST LOSSES
The Bauchi State Agricultural Development Programme (BSADP) has voiced concern about increasing post-harvest losses that greatly affect farmers’ incomes and food security. Mr Rafilawus Iliya, Director of Agricultural Technical Services at BSADP, highlighted poor harvesting timing, inadequate tools, and bad transportation as key contributors to these losses. He revealed that many farmers lose up to…
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NIGERIAN STOCK MARKET RECORDS 4TH CONSECUTIVE LOSS, INVESTORS LOSE N348 BILLION
The Nigerian equities market slumped for the fourth straight session on Thursday, resulting in a staggering loss of N348 billion for investors. Key stock selloffs including Legend Internet, Champion Breweries, and Tantalizer triggered a 0.36% dip in market capitalisation, which closed at N95.316 trillion compared to an opening of N95.664 trillion. The All-Share Index similarly…
