Category archives for: Business

N3tn Stranded Overtime Cargoes Rot At Lagos, Onne Ports-Investigation


LAGOS OCTOBER 4TH (NEWSRANGERS)-Investigations have revealed that over 8,000 stranded overtime cargoes, valued at about N3 trillion, are currently littering the country’s three major seaports – Apapa, Tin Can and Onne – with little or no effort made to find a lasting solution to the nuisance caused by the scraps. Findings revealed that over 2,000 […]

Transport Minister Hails Akeredolu’s’ Steps  Towards Declaration Of Ondo Deep Sea Port


  LAGOS SEPTEMBER 29TH (NEWSRANGERS)-The Minister of Transportation, Mu’azu Jaji Sambo, has said that the Federal Government will in no distant time make a ‘Port Declaration’ of the proposed Ondo Deep Sea Port to herald commencement of other processes at the port. The Minister, who gave this indication when he received the Governor of Ondo […]

Dollar Hits N735 As Political Campaign Kicks Off


LAGOS SEPTEMBER 29TH (NEWSRANGERS)-The dollar hit N735 in the parallel market on Wednesday as political campaign activities began in the country. According to Bureau De Change operators in Lagos and Abuja, dollar price had increased from N718 – N720 to N728-N735 in the last one week. A BDC operator at Amuwo-Odofin in Lagos, Bala Usman, […]

Nigeria Squanders Oil Price Boom As Gasoline Subsidies Soar


LAGOS SEPTEMBER 29TH (NEWSRANGERS)-Nigeria has failed to capitalise on an oil price boom that has helped cushion other exporters from the impact of inflation, with millions more Nigerians now facing poverty. Data from Nigeria’s state oil company NNPC shows that it did not contribute anything to state coffers in the first eight months of 2022, […]

Nigeria Central Bank  Hikes Lending Rate To Highest Level To Head Off Inflation


LAGOS SEPTEMBER 27TH (NEWSRANGERS)-Nigeria’s central bank on Tuesday hiked its main lending rate by 150 basis points to 15.50%, its highest level yet and more than forecast, forging ahead with efforts to rein in inflation and ease pressure on the currency. A Reuters poll of economists had predicted a much smaller 50 basis point hike. […]

Congress Of Nigerian Maritime Media Practitioners Condoles SIFAX Boss Over Brother’s Demise


LAGOS SEPTEBER 22ND (NEWSRANGERS)-Congress of Nigerian Maritime Media Practitioners (CONMMEP) has commiserated with the Chairman of SIFAX Group, Dr. Taiwo Afolabi over the demise of his twin brother, Mr. Kehinde Afolabi.  In a condolence letter addressed to Dr. Afolabi and signed by CONMMEP President, Alhaji Tunde Umar- Daniah, the association regretted the painful exit of […]

Present – Day Technology And Rapid Response, A Panacea To Rail Insecurity  – Sambo


LAGOS SEPTEMBER 19TH (NEWSRANGERS)-The  Minister of Transportation, Mu’azu Jaji Sambo has zeroed in on a lasting intervention to rail and by extension road insecurity, after studying several submissions and recommendations presented to him, therefore zeroing in on employing present- day technology and rapid response by the relevant security agencies. The  Minister made this remark on […]

Inland Waterways Cash Cow Long Overdue For Harnessing-Transport Minister


LAGOS SEPTEMBER 16TH (NEWSRANGERS)-The Minister of Transportation, Mu’azu Jaji Sambo, has described the nations Inland Waterways as cash cows long overdue for harnessing, as it abounds with economic potentials capable of revolutionizing the country’s Gross Domestic Product.  The Minister made this known today in Abuja at the inauguration of the Technical Working Group (TWG) Proposal […]

Anxiety Grows  As Nigeria’s  Inflation Surges To Seventeenth-Year High


LAGOS SEPTEMBER 16TH (NEWSRANGERS)-Nigeria’s consumer inflation surged to a 17-year high in August 2022, its statistics agency said Thursday, signalling more hardship for citizens and businesses in Africa’s largest economy. The Nigerian National Bureau of Statistics (NBS) reported in its latest consumer price index that inflation rose to 20.5% in August, up from 19.6% in […]

Nigeria Oil Workers Threaten Strike Over  Alleged ‘Cartel’ Oil Theft


LAGOS SEPTEMBER 8TH (NEWSRANGERS)-Members of a Nigerian oil workers’ union are threatening to go on strike if the government does not do more to stem widespread oil theft they say is putting their safety at risk and has cut exports by hundreds of thousands of barrels. Workers with the Petroleum and Natural Gas Senior Staff […]

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