LAGOS MAY 27TH (NEWSRANGERS)–Importers have abandoned Nigerian ports for Benin, Ghana, Togo and Burkina Faso due to the increase in tariffs by shipping lines, hike in terminal charges, poor services, delays in refunding container deposits, unapproved charges and other financial irregularities amounting to billions of naira. The Board of Trustees of Importers Association of Nigeria…
LAGOS MAY 26TH (NEWSRANGERS)-The Federal Government has cancelled $717.7m in undisbursed World Bank financing for Nigeria’s troubled electricity sector, effectively terminating the remaining portion of a $1.52bn power sector recovery programme amid mounting tariff shortfalls, worsening financial pressures, and persistent implementation challenges across the industry. Documents obtained by The PUNCH from the World Bank website…
LAGOS MAY 23RD (NEWSRANGERS)-Oil prices abruptly reversed course Thursday afternoon, turning from gains to losses on news that the US and Iran may be only hours away from announcing terms for peace negotiations. Futures on Brent crude (BZ=F), the international benchmark, fell 2.6% to trade around $102.30 per barrel after gaining as much as…
LAGOS MAY 18TH (NEWSRANGERS)-The Minister of Marine and Blue Economy, Gboyega Oyetola, is set to declare open the Board of Directors meeting of the Port Management Association of West and Central Africa (PMAWCA). The three-day high-level gathering, scheduled for May 18–20, 2026, hosted by the Nigerian Ports Authority in Lagos, will bring together top…
LAGOS MAY 17TH (NEWSRANGERS)-Wema Bank, one of Nigeria’s commercial banks, has refunded N25 million to Isa Aremu Lawal, a Lagos resident, days after losing it to unauthorised transactions. Malik Lawal, his son and a brand designer, confirmed the refund to FIJ on Monday. He said that the bank told his father that an insider hack…
LAGOS MAY 15TH (NEWSRANGERS)-Shell Nigeria Gas (SNG) recently hosted a Business and Investment Forum in Port Harcourt, bringing together key industry stakeholders to explore opportunities to reduce operating costs, enhance productivity, unlock investment returns, and strengthen competitiveness through the adoption of natural gas. The forum coincided with the onboarding of two new industrial customers in…
LAGOS MAY 13TH *NEWSRANGERS)-Obi made this known in a statement shared on his personal X handle on Tuesday, May 12, 2026, where he highlighted discussions with Lord Jonathan Marland, Chairman of the Commonwealth Enterprise and Investment Council (CWEIC). According to the former Anambra State governor, the meeting focused on prospective trade opportunities, economic advancement,…
LAGOS MAY 5TH (NEWSRANGERS)-The Lagos International Trade Fair Complex has been partially shut following a violent clash that left one person dead and three others injured at the Balogun Business Association (BBA) market. The incident, which occurred on Sunday along the Badagry Expressway axis of Lagos, prompted the management board to seal off the affected…