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Clearing agents reject Customs’ 15% levy on imported vehicles

CLEARING agents have rejected the imposition of 15 per cent levy on imported vehicles by the Nigeria Customs Service. The NCS had, last weekend, introduced a 15 per cent National Automobile Commission levy on used imported vehicles, a decision which didn’t go down well with the clearing agents. The agents have argued that the NAC […]

agencyreport
15th April 2022
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Trapped forex: Expert pushes for ticket purchase in dollars

Aviation News

Airlines, agents to begin sale of tickets in dollar

Some of the foreign airlines flying into Nigeria will on April 19 begin the sale of their tickets in dollar amid the worsening shortage of foreign exchange in the country. The development came as foreign carriers’ unremitted ticket sale proceeds in Nigeria reportedly hit $283m (about N116.87bn) recently. It was learnt on Wednesday that international […]

agencyreport
14th April 2022
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Housing News

Two Ikoyi high-rise buildings fail integrity test, risk collapse

Two high-rise buildings in Ikoyi, Lagos are at risk of collapse after failing experts’ integrity test, The PUNCH has learnt. A high-rise building under construction by Fourscore Heights Limited along Gerrard Road in Ikoyi had collapsed on November 4, 2021, killing at least 44 persons. It was also reported that the Lagos State Government had […]

agencyreport
14th April 2022
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Economy News

NASS to pass Buhari’s revised 2022 fiscal framework today

The Senate and the House of Representatives will on Thursday (today) pass the revised 2022 fiscal framework of the Federal Government. The President of the Senate, Ahmad Lawan, made this known after the report of the Committee on Finance was stepped down today for consideration at the plenary on Wednesday. The Majority Leader, Yahaya Abdullahi, […]

agencyreport
14th April 2022
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Maritime Ports and Airports

Navy has detained my vessel for four years – Shipowner

A shipowner, Captain Dada Olaniyi Olabinjo, has said that despite meeting the bail conditions, his vessel, MT Adeline Jombo, has been detained by the Nigerian Navy since 2018. Olabinjo, who spoke in an exclusive chat with our correspondent in Lagos, explained that he was arrested alongside his $1m vessel in 2018 when the vessel was […]

agencyreport
14th April 2022
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News

Visa ban: FG approves foreign professionals with skills lacking in Nigeria

The Director-General and Chief Executive Officer, National Office for Technology Acquisition and Promotion, Dr. Dan-Azumi Ibrahim, has disclosed that the Federal Government, through Executive Order 5, has restricted the issuance of visas to certain foreign professionals. He added that only foreign professionals with skills lacking in Nigeria would get visa approval from the Ministry of […]

agencyreport
14th April 2022
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Maritime Ports and Airports

80% of barges in Nigeria are locally made, say operators

Barge operators in the nation’s maritime sector have said that 80 per cent of the barges on the Nigerian waters are locally made, noting that the players are already operating according to international standards. The National President of BOAN, Olubunmi Olumekun, said this in an exclusive interview with our correspondent in Lagos on Sunday. He […]

agencyreport
14th April 2022
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18 Views

Anger as customs sell seized vehicles as scrap

Maritime Ports and Airports

Imported vehicles: Customs slam 15% levy, clearing agents plan strike

CLEARING agents operating in the nation’s maritime sector may withdraw their services following the reintroduction of a 15 per cent National Automotive Council levy on imported used vehicles by the Nigeria Customs Service. NAC had in 2011 proposed 35 per cent duty differentials between imported fully-built units and locally assembled cars. The proposal reportedly failed […]

agencyreport
12th April 2022
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25 Views

Energy Investment News

FG not handing over Ajaokuta Steel to British firm – Minister

THE Minister of Mines and Steel Development, Olamilekan Adegbite, has refuted media reports on the rehabilitation of the Ajaokuta Steel Plant, saying that the Federal Government is not handing it over to a British firm. He further said that a Nigerian firm, which is a partner of a British firm, had offered to implement a […]

agencyreport
12th April 2022
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10 Views

Why oil theft estimates are unrealistic- Navy

Banking Economy

Oil theft affecting govt finances, naira stability –MPC member

Massive oil theft, among other challenges, is affecting government finances and threatening naira stability. The Central Bank of Nigeria disclosed this in a report by a member of the Monetary Policy Committee, Prof. Mike Obadan, who dealt with the topic ‘Is derugulation the solution to the forex/exchange rate problem?’ Obadan, a professor of economics and […]

agencyreport
12th April 2022
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18 Views

Electricity Energy

National grid collapsed twice to 10MW, 33MW last week – FG report

The collapse of Nigeria’s electricity grid actually occurred twice – on Friday and Saturday last week despite concerted efforts to stabilise the power system, a Federal Government report seen in Abuja on Monday showed. Data in the report, which was obtained from the Federal Ministry of Power, showed that the quantum of electricity on the […]

agencyreport
12th April 2022
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23 Views

FG to end fuel subsidy in 2023 - Minister

Economy News

Over 5,000 debtors owe 10 FG agencies N4.67tn – Minister

The Federal Government has disclosed that over 5,000 debtors currently owe its agencies about N4.67tn. The Minister of Finance, Budget, and National Planning, Zainab Ahmed, who made the disclosure on Monday, said the government had in the past 18 months recovered N53.8bn out of the N5.2tn owed 10 ministries, departments and agencies. The minister made […]

agencyreport
12th April 2022
0 Comments
19 Views

BUA cement announces revised date for ₦2.05 dividend

Lagos partners BOI, Sterling Bank to boost MSMEs

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Clearing agents reject Customs’ 15% levy on imported vehicles

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NASS to pass Buhari’s revised 2022 fiscal framework today

Navy has detained my vessel for four years – Shipowner

Visa ban: FG approves foreign professionals with skills lacking in Nigeria

80% of barges in Nigeria are locally made, say operators

Imported vehicles: Customs slam 15% levy, clearing agents plan strike

FG not handing over Ajaokuta Steel to British firm – Minister

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