LAGOS MARCH 10TH (NEWSRANGERS)-President Muhammadu Buhari Monday responded to the drastic crash of crude oil in the international markets by constituting a presidential committee to review the 2020 budget and the oil benchmark and recommend realistic options that will make the document significantly implementable. The Nigerian blend, Bonny Light closed at $46.33 Monday from about…
LAGOS MARCH 9TH (NEWSRANGERS)-The world’s faltering effort to contain the coronavirus outbreak hammered stocks and crude oil on Sunday, as new cases surfacing across the U.S. amplified fears of a global downturn. Brent crude (BZ=F) prices collapsed, falling by as much as 31% on Sunday evening in what was the largest single-day drop since the…
LAGOS MARCH 8TH (NEWSRANGERS)-The Lagos Chamber of Commerce and Industry (LCCI) on Thursday lamented the rise of Nigeria’s debt profile from N12.6trillion in 2015 to N26.2trillion in 2019. According to a statement signed by the Director-General of the LCCI, Muda Yusuf on Thursday, the nation’s national debt saw an increase of 108 percent within the…
LAGOS MARCH 6TH (NEWSRANGERS)-Fresh facts have emerged on why Dakuku Peterside was not favoured to sit for another four years as Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA). Besides the inability of Peterside to develop indigenous shipping tonnage, his failure to curb piracy in the nation’s territorial waters and a frosty…
LAGOS MARCH 5TH (NEWSRANGERS)-A research carried out by SBM Intelligence has shown that it is 10 times costlier to move goods from the port in Apapa, Lagos than it is to move them from the ports in Ghana and South Africa. The Apapa and Tincan Island ports, which is Nigeria’s busiest port terminal, has suffered…
LAGOS MARCH 5TH (NEWSRANGERS)-Vehicles worth an estimated ₦70 billion are wasting away in the Nigeria Customs Service warehouses due to a halt in the e-auction process. The Nigeria Customs Service (NCS), among other duties, regulates vehicles imported into the country. Shipments that fail to meet the stipulated regulations are seized and kept in the command’s…
LAGOS MARCH 2ND (NEWSRANGERS)-The President of the African Development Bank, Dr. Akinwumi Adesina has said that the bank is set to create 9 million direct and indirect jobs in the next 5 years. The President made this known during his keynote speech at the 8th African Leadership Magazine Persons of the Year event, which held at…
LAGOS FEBRUARY 27TH (NEWSRANGERS)-Amidst sustained outrages on over billing, the Nigerian Electricity Regulatory Commission (NERC) has barred the 11 Distribution Companies (DisCos) from charging residential customers above an average of N1,800 monthly until they are metered. In an Order 197 signed by the Chairman, Prof. James Momoh and the Commissioner, Legal, Licencing & Compliance, Dafe…