LAGOS OCTOBER 22ND (NEWSRANGERS)-The naira slid to the brink of 1,000 per dollar in a fresh low in the official market thanks to a combination of central bank tolerance for a weakening currency and insatiable demand for the greenback. The currency was pushed to its latest record a week after the central bank ended curbs…
LAGOS OCTOBER 18TH (NEWSRANGERS)-Stopping to refill the tank or charge up on a long road trip is a constant and inevitable frustration – but these engineering students might have done away with stops for good. Their two-seater vehicle, Stella Terra, has just completed a 620-mile (1,000km) test drive across Morocco and the Sahara desert without…
LAGOS OCTOBER 11TH (NEWSRANGERS)-Findings by the Nigerian Tribune have revealed that some Nigerian port terminals, most especially Roll-On Roll-Off terminals, may be forced into shedding their staff strength due to the drop in volume of import units of vehicles by 60 percent. Checks by the Nigerian Tribune revealed that some Roll-On Roll-off terminals which used…
LAGOS OCTOBER 11TH (NEWSRANGERS)-The Nigeria Customs Service, NCS, and the National Automotive Council, NAC, are currently in talks over a possible downward review of the NAC levy paid by vehicle importers. Under the NAC, a levy of two percent of Cost of Insurance and Freight, CIF, is imposed on new vehicles imported into Nigeria while 15…
LAGOS OCTOBER 10TH (NEWSRANGERS)-The Federal Government has stated that it will soon issue an order, compelling airline operators to commence payment of compensation to passengers for delayed and cancelled flights not ‘caused’ by natural occurrences. The Minister of Aviation and Aerospace Development, Festus Keyamo, said this during a meeting with airline operators in Abuja on…
LAGOS OCTOBER 10TH (NEWSRANGERS)-The price of 12.5kg cylinder of Liquefied Petroleum Gas (LPG) also known as cooking gas has skyrocketed to N13,500 in Lagos. A gas retailer, who spoke to New Telegraph yesterday, said the increment was attributed to the high depreciation of the naira to the dollar. He lamented that last month, they sold…
LAGOS OCTOBER 9TH (NEWSRANGERS)-Days after announcing the reduction of the ex-factory price of cement, BUA Group has silently increased prices of foods, particularly a bag of sugar, a bag of flour, and a carton of spaghetti, an investigation has revealed. The management of one of the giant cement coy in the country had on October…
LAGOS OCTOBER 7TH (NEWSRANGERS)-The Nigerian Content Development and Monitoring Board (NCDMB) has urged the indigenous oil operators to comply with the Nigerian Content Act so as to make the industry robust for all stakeholders. The Executive Secretary (ES), Engr. Simbi Wabote, gave this charge at breakfast meeting with members of Guild of Corporate Online Publishers…