LAGOS MARCH 14TH (NEWSRANGERS)-Oil prices extended last week’s decline to fall by about $4 a barrel during early trade on Monday after a U.S. official said Russia was showing signs it might be willing to have substantive negotiations over Ukraine. Brent crude futures was last down by $4.12 or 3.6% at $108.55 a barrel at…
LAGOS MARCH 10TH (NEWSRANGERS)-Oil prices have plunged after the United Arab Emirates said it supported increasing production. Brent crude, an international benchmark, fell more than 17% at one point after the statement by the UAE, a member of the powerful oil cartel Opec. The fall follows weeks of skyrocketing oil prices due to supply disruptions…
LAGOS MARCH 9TH (NEWSRANGERS)-The Federal Government through the Nigeria Customs Service on Monday announced a 31-day suspension of the controversial electronic valuation system for imported vehicles, also known as Vehicle Identification Number valuation. The announcement came over two weeks after clearing agent associations at Lagos ports embarked on an indefinite strike over what they described…
LAGOS MARCH 9TH (NEWSRANGERS)-Freight forwarders have appealed to the Federal Government to grant a statutory waiver of rent and demurrage accumulated as a result of the protest by Licensed Customs Agents (LCA) on the implementation of the Vehicle Identification Number (VIN) valuation on imported vehicles. This is just as the Nigeria Customs Service (NCS) has…
By Oghenekevwe Laba LAGOS MARCH 7TH (NEWSRANGERS)-In his valedictory speech, the immediate past Director General Of Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dakuku Peterside, while handling over to the incumbent DG of NIMASA, Dr Bashir Jamoh said having ended his tenure, he could not wish for a better person to take over from…
LAGOS MARCH 7TH (NEWSRANGERS)-The price of Automotive Gas Oil, popularly known as diesel, is currently sold at N545 in some fuel stations across Lagos. This is an increase of over 113% from the N225 which the commodity was for sold in January 2021. This was confirmed from findings made by Nairametrics on Saturday across fuel…
LAGOS MARCH 3RD (NEWSRANGERS)-Passengers have been experiencing massive flight disruptions over scarcity of aviation fuel known as Jet A1, Daily Trust report. Apart from the scarcity, the product also hit N440 per litre this week and there are indications the price could increase further in days ahead. Our correspondent learnt that many airlines have been…
LAGOS MARCH 3RD (NEWSRANGERS)-Leading energy company, The Shell Petroleum Development Company of Nigeria Limited (SPDC) and its joint venture partners – Nigerian National Petroleum Corporation Limited (NNPC), Totalenergies EP Nigeria Limited, and Nigerian Agip Oil Company (NAOC) – on Wednesday signed an agreement for a daily supply of 70 million standard cubic feet of…