President Muhammadu Buhari has granted a 30 per cent import duty reduction on passenger transport vehicles. The import duty reprieve covers aviation engines and spare parts and takes immediate effect. The Presidential directive was conveyed through a circular from the headquarters of the Nigeria Customs Service (NCS) in Abuja. It said the reduction followed the […]
Bitcoin soared above $50,000 for the first time on February 16, 2021, after surging by almost 75 percent this year as heavyweight companies lend their support to the world’s most popular virtual currency. At around 1235 GMT, bitcoin hit an all-time high at $50,547.70, a 4.4-percent gain since Monday. The total value of all bitcoin […]
By Foster Obi Customs Area Controller (CAC) Nigeria Customs Service, Federal Operations Unit Zone C Owerri, Comptroller Yusuf Lawal has vowed that the Unit will continue to ensure smugglers within the areas of jurisdiction count their losses until they repent from sabotaging Nigeria’s economy. According to him, “Our resolute remains to degrade the activities of […]
The national electricity grid has collapsed, leading to power outage across the country. Abdulazeez Abdullahi, head of corporate communication of Kaduna Electricity Distribution PLC, made the announcement on Wednesday. In a post on Kaduna Electric’s Twitter handle, Abdullahi said the collapse affected areas on it network including Kaduna, Sokoto, Kebbi and Zamfara states. Ikeja Electric, […]
In a bid to recover the cash value of more than 16 million barrels of crude oil allegedly diverted from AITEO Eastern E & P Company Ltd., a Federal High Court sitting in Ikoyi, Lagos has granted an interim injunction directing 20 commercial banks to freeze the accounts of Shell Petroleum Development Company of Nigeria […]
By Foster Obi In a strong show of support and recognition for the leader who has successfully showcased the importance of long-term rural development as a key solution to the global challenges the world is currently facing, Member States have reappointed Gilbert F. Houngbo as President of the International Fund for Agricultural Development (IFAD) for […]
The Lagos Chamber of Commerce and Industry has highlighted steps Nigeria needs to take in order to fully take advantage of the opportunities offered by the World Trade Organisation under the leadership of Dr Ngozi Okonjo-Iweala. The LCCI, in a statement on Monday, felicitated with Nigeria on the appointment of Okonjo-Iweala as the Director-General of […]
A health official draws a dose of the AstraZeneca”s COVID-19 vaccine manufactured by the Serum Institute of India The World Health Organization (WHO) has approved two versions of the Oxford-AstraZeneca Covid-19 vaccine for emergency use, clearing the way for the vaccines to be shipped to African countries through the Covax scheme. Covax is a global […]
Osagie Ehanire, minister of health, says COVID-19 vaccines carry a certain amount of risk. Nigeria is expected to receive its first batch of allocated doses by the end of February. On February 11, the World Health Organisation (WHO) released a document detailing the use and risks associated with the AstraZeneca vaccine. According to the WHO, […]
Ngozi Okonjo-Iweala looks set to be confirmed Monday as the first woman and first African leader of the beleaguered World Trade Organization, a near-paralysed institution desperately needing a kick-start. The WTO has called a special general council meeting at which the former Nigerian finance minister and World Bank veteran is expected to be formally selected […]