Containers clearing cost jumps by 67%, vehicle parts’ prices soar
Freight charges in the nation’s seaports have jumped by 67 per cent, resulting in increases in prices of vehicle spare parts, AM Business has learnt. In separate interviews with our…
Avert disruption in wheat value chain, analysts task FG
Local industry analysts have called on the Federal Government to take a swift and deliberate action to cushion the effects of the disruptions in the global wheat market on Nigeria’s…
73% of workers under contributory pension below 40 years – PenCom
The National Pension Commission has said that 73 per cent of contributors under the Contributory Pension Scheme are below 40 years of age. It said in its ‘Age and gender…
Tin-Can port is collapsing, says NPA
The Nigerian Ports Authority has said that Tin Can Island port is collapsing, saying that more attention should be focused more on rehabilitating the quay walls of the port. Speaking…
Nigeria spends 86% of revenue on debt servicing, South Africa pays 20%
Nigeria spent 86 per cent of its revenue on servicing debt in 2021, but South Africa spent only 20 per cent of its receipts on the same purpose, according to…
FG backs insurers on compulsory policies
The Federal Government has assured insurers that it will ensure compliance with compulsory policies in the country. The Minister of Finance, Budget and National Planning, Dr. Zainab Ahmed, said this…
Foreigners control 90% of local freight forwarding business – ANLCA
The acting National President of the Association of Nigerian Licensed Customs Agents, Kayode Farinto, has lamented that foreigners have taken over 90 per cent of freight forwarding jobs in Nigeria.…
Banking sector remains resilient, says CBN
The Nigerian banking sector remained resilient in February, according to a report released by the Central Bank of Nigeria. The CBN disclosed that a member of the Monetary Policy Committee,…
Commodity prices’ll remain high in Nigeria, others – World Bank
The World Bank has said that the war in Ukraine has dealt a major shock to commodity markets, altering global patterns of trade, production, and consumption in ways that will…
FG ‘reaches’ agreement with ASUU, says strike ends soon
The Federal Government has expressed optimism that the decisions reached in its three-part meeting with university-based unions would yield fruits next week. The Head, Press and Public Relations in the…
Nigeria’s oil production falls over poor maintenance -World Bank
The World Bank has said that Nigeria’s oil production declined in 2021 due to a lack of maintenance and the loss of infrastructure efficiency. It added that Nigeria was yet…
Workers in formal sector earn N159tn in four years – NBS
Employees in Nigeria’s formal sector earned N159.01tn from 2018 to 2021, according to data from the National Bureau of Statistics. The statistics body revealed this in its ‘Nigerian Gross Domestic…
