Nigeria and neighbouring countries Benin and Niger have agreed to set up a joint border patrol force to tackle smuggling between the West African countries, they said in a communique on Thursday. Foreign ministers from the three countries met to discuss smuggling following a decision by regional giant Nigeria, which has Africa’s largest economy and […]
Palpable panic currently grips many Nigerian homes, as cost of cooking gas, otherwise known as Liquefied Petroleum Gas (LPG) has tremendously increased, with the Christmas and New Year festivities remaining less than two months. National Light gathered that the sudden increase in prices of various sizes of Gas Cylinder was brought about by the scarcity […]
The Nigeria Customs Service is seeking the reintroduction of import tax on petroleum products. The Comptroller-General of Customs, Col Hameed Ali, said this at the 2020 budget defence before the House of Representatives Committee on Customs. The Federal Government in 2004 suspended the tax on imported petroleum products. Before the suspension, a tax of N1.50 […]
By Foster Obi Nigerian carrier, Dana Air, on Sunday celebrated the 11th anniversary of its flight operations by rewarding customers with various gifts ranging from free tickets to souvenirs. The Chief Operating Officer, Mr Obi Mbanuzuo ,while speaking at a brief ceremony in Lagos said that the airline would never have made it this far […]
Fuel stations along Nigeria’s land borders have closed and prices have spiked after customs authorities banned deliveries of petroleum products to stations within 20 kilometres (12 miles) of the border in an attempt to curb smuggling. Border communities have complained about the move however, prompting Nigeria’s lower chamber of parliament on Tuesday to call on […]
Nigeria is producing 1.6 million-1.7 million barrels per day (bpd) of crude oil, the chief operating officer of the Nigerian National Petroleum Corp said on Wednesday, adding that the country would continue to comply with OPEC output cuts. “The last quota put us at 1.7 million bpd and we are committed to that threshold … […]
The Managing Director of Nigeria Inland Waterways Authority (NIWA), Dr. George Muoghalu, says arrangements are in place to reactivate the Oguta Lake Port, situated in Osemoto, Oguta local government area of Imo state. Muoghalu disclosed this on Monday while on a familiarisation visit to the Oguta port. He expressed regret that the project, which was […]
Jack Dorsey, the CEO and co-founder of Twitter, is planning to spend six months in Africa next year to grow the company’s business on the continent, a tweet from a British diplomat says. He is deciding between Nigerian and Ethiopia, Africa’s two most populous countries. Britain’s high commissioner in Nigeria, Catriona Laing, wrote. @jack CEO […]
Visa Inc plans to acquire a “significant minority” stake in payments platform Interswitch, the Nigeria-based company said on Tuesday. Interswitch did not provide financial details in its statement but a source confirmed media reports that Visa would buy a 20% stake for $200 million. That would value Interswitch at $1 billion, giving it “unicorn” status […]
The Nigerian Liquefied Natural Gas Limited has announced the arrival in Lagos of its vessel containing 12,000 metric tonnes of Liquefied Petroleum Gas, popularly known as cooking gas. The PUNCH had reported on Tuesday that most depots in Lagos had run out of stock, following a supply shortfall that led to a sharp increase in the […]