Budgeting Economy News Extra Latest News Maritime Revenue Revenue Agencies

Customs Service Generates N976.6Bn In Half Year 2020

The Nigeria Customs Service, NCS, has reported that it generated a total sum of N976.6 billion intothe Federation Account between January and August 2020. The disclosure, which was made public in a document released by the Service’s Public Relations Office, indicated that the larger chunks of the revenue collected were from import duty and Value […]

Banking Economy News Extra Latest News Manufacturing Maritime

Credit To Households Up -7.4% In Q2, 2020 – CBN

The Central Bank of Nigeria (CBN) reported that availability of secured credit to households increased from the very worrisome -36% in the first quarter of this year to -7.4% in second quarter (Q2, 2020). The apex bank disclosed this in its latest Nigeria’s Credit Conditions Survey Report for the second quarter. Similarly, it reported a […]

Economy News Extra Latest News Maritime National Assembly Transportation

Reps Probe Transport Ministry, NIMASA Over Alleged $195Mn Contract Scam

The House of Representatives on Thursday directed its Committees on Marine and Institutions and Public Procurement to commence immediately a probe into the $195 million security contract allegedly awarded to an Israeli outfit to provide security and surveillance on Nigeria’s waterways. The probe of the contract awarded by the Ministry of Transportation was based on […]

Investments/Capital Market Latest News Maritime Revenue

FG targets N300bn Revenue From Maritime Sector

The Minister of Transportation, Mr. Rotimi Amaechi, has disclosed that the Federal Government is targeting about N300 billion from the maritime sector if ongoing infrastructure interventions in the sector are completed. Listing some of the projects as including the Deep Sea Project, Amaechi said that government’s current intervention in the sector  would in addition to […]

Budgeting Economy News Extra Latest News Maritime Transportation

FG Approves $5.3Bn For Ibadan-Kano Rail Project

Minister of Transportation, Mr. Rotimi Amaechi, on Thursday disclosed that the Federal Government had approved for the execution of Ibadan-Kano standard gauge rail project the sum of $5.3 billion. The disclosure was contained in a statement issued by minister’s Special Assistant Media, Israel Ibeleme, shortly after the 3rd Maritime Stakeholders Interactive Forum held in Lagos. […]

Economy News Extra Latest News Maritime Revenue Taxation

Peterside Lauds Appeal Court Judgment On Agency/NLNG Case

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, at the weekend described the Appeal Court judgement in the case between the agency and the Nigerian Liquefied Natural Gas (NLNG) Limited over levies payable to the maritime regulator as desirable to the nation’s justice system. The Court of Appeal […]

Economy News Extra Latest News Maritime Tax

Licensed Customs Agents Seek FG’s Intervention Over Port Charges

The National Council of Managing Directors of Licenced Customs Agents (NCMDLCA) has appealed to the Federal Government to take urgent steps towards stopping additional shipping charges being levied by shipping companies on imported cargoes in the country. The group stated that by the imposition of the charges called “the government and port taxes”, the shipping […]

Economy News Extra Latest News Maritime Revenue Agencies

Clearing Agents Decry Customs’ Multiple Clearance Units At Ports

Licensed freight forwarders have decried what they described as the proliferation of Customs units at the Lagos ports, alleging that the units are being used to extort them and make the cargo clearance procedures more cumbersome. In addition, the concerned agents also alleged that the multiple Customs units aside complicating the clearing process, but have […]

Economy News Extra Latest News Maritime National Assembly Transportation

Senate Committee Rues Slow Pace Of Apapa Trailer Park Project

The Senate Committee on Works has expressed serious concern over the slow pace of the ongoing shoreline protection of the Apapa trailer park project in Lagos. The Chairman of the committee, Sen. Kabiru Gaya, who led members on an inspection tour of the facility’s project on Sunday expressed dismay over the current state of the […]

Economy News Extra Latest News Maritime

Gulf Of Guinea Crucial To Regional Food Security Agenda – Peterside

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dakuku Peterside, has harped on the importance of the Gulf of Guinea to food security in West and Central African sub-region and charged the various governments to prevent illegal activities that may hamper food supply in the sub-region. Peterside gave this charged […]