Onitsha chambers lauded NPA’s 10% discount on vessels berthing at eastern ports

By Sunny A. David, Onitsha The Onitsha Chamber of Commerce, Industry, Mines and Agriculture (ONICCIMA) lauded the Nigerian Ports Authority (NPA) for approving 10 per cent discount on vessels calling at the Eastern Ports. The First Deputy President of ONICCIMA, Mr. Chris Ukachukwu gave the commendation in an interview with our correspondent in Onitsha, said that the action would decongest the Lagos ports. It would be recalled that the management of the NPA had approved a 10 per cent discount on harbour dues in the concessioned terminals of Calabar, Rivers…

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Nigeria greatest contributor to wealth creation in West Africa — AfDB

The African Development Bank (AfDB), says Nigeria is the greatest contributor to wealth creation in West Africa, contributing about 75 per cent of regional Gross Domestic Product (GDP). Mr Ebrima Faal, AfDB Senior Director for Nigeria said this in an interview with newsmen at the ongoing Annual Meetings of the Bank in Malabo. According to Faal, Nigeria’s trade policy is anchored on ECOWAS, as it continues to play a coordinating role in the region through both the government and its vibrant private sector. He said that in terms of free…

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Economy: Emefiele seeks stronger efforts against global shocks

CBN Governor, Emefiele The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, on Saturday emphasised the need to strengthen efforts over the coming years to stimulate growth and create jobs in critical sectors to insulate the economy from global shocks. Emefiele said this while giving a welcome address at a consultative roundtable titled, “Going for Growth” with some economic stakeholders in Lagos. The CBN boss said that leaders and policy makers needed to strengthen their resolve in achieving the goal. He also said that would assist in…

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Ibom Air gets AOC, set to begin flight operations

Akwa Ibom State-owned carrier, Ibom Air, is set to begin flight operations after securing its Air Operator’s Certificate (AOC) from the Nigerian Civil Aviation Authority (NCAA). The General Manager, Public Relations, NCAA, Mr Sam Adurogboye, confirmed the development to the News Agency of Nigeria (NAN) on Thursday in Lagos. Adurogboye said that the airline formally obtained the AOC from the NCAA on June 6. NAN reports that an AOC is the approval granted by a national aviation authority (NAA) to an aircraft operator to allow it to use aircraft for…

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German Govt. invests 2m Euros in Nigeria’s rice production

File photo of a rice farm in Nigeria The German Government, with support from the Bill and Mellinda Gates Foundation, has provided two million Euros for implementation of the second phase of the Competitive African Rice Initiative (CARI) in Nigeria. The Programme Director of CARI, Mr Jean-Bernard Lalannehe, disclosed this on Wednesday to newsmen in Abuja. Lalannehe said the second phase of the project known as CARI-2, would be implemented in Kebbi, Kaduna and Jigawa states. According to him, the aim is to help smallholder farmers to increase their income…

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2% economic growth will not engender economic growth — Ohuabunwa

President, PSN Pharmacist Ohuabunwa Mazi Sam Ohuabunwa, President, Pharmaceutical Society of Nigeria (PSN), on has said the present two per cent economic development being pursued by the Federal Government would not engender an economic growth the country so desired. Ohuabunwa made the comment in an interview with News Agency of Nigeria (NAN) on the sidelines of his Public Lecture delivered at the Crawford University, Igbesa. The 6th Public Lecture delivered at the Multipurpose Hall of the Faith-based University was entitled “When Will Nigeria Become a First Nation.’’ Ohuabunwa, the Guest…

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SMEDAN DG decries attitude towards export drive

SMEDAN DG, Dr. Dikko Radda The Director-General, (DG), Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Dr. Dikko Umaru Radda, has decried the attitude of Nigeria MSMEs toward taking advantage of export windows due to poor quality of Nigerian products. Dr. Radda was speaking at the knowledge sharing session under the agency’s Enterprise Network Initiative (ENI), programme held in Aba, Abia State. The DG was represented by the Director, Policy Partnership and Coordinaton, Dr. Friday Okpara. In a statement by Ibrahim Mohammed, Head, Corporate Affairs Unit, SMEDAN, it quoted…

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Naira converges around N360/$ at major Forex markets 

The Naira on Thursday converged around N360 to the dollar in major segments of the foreign exchange market. The News Agency of Nigeria (NAN) reports that the naira traded at N360 to the dollar at the Bureau De Change (BDC) window, while the Pound Sterling and the Euro closed at N465 and N401. Trading at the investors window saw the naira closing at N360.72 to the dollar as market turnover stood at 88.43 million dollars. The naira was sold at N359 to the dollar at the parallel market in Lagos,…

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Nestlé Sub-Saharan Africa Innovation Challenge launches in Nigeria

From L-R: Franck-Philippe N’Dia, Technical Competence Unit Lead, Nestlé R&D Abidjan, Céline Worth, R&D Program Manager, Affordable Nutrition, Nestec Switzerland, Laissa Mouen, Co-Founder and CEO, Kinaya Ventures, Joëlle Abega-Oyouomi, Head of Nestlé R&D Abidjan and Honorine Koffi, Communications Manager, Nestlé R&D Abidjan at the launch of Nestlé R&D Innovation Challenge in Lagos on Wednesday. Nestlé’s Research and Development (R&D) Innovation Challenge has launched its Sub-Saharan Africa challenge in Lagos, Nigeria after it kicked off earlier in the week in Ghana. The challenge is part of the company’s efforts to contribute…

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Trustfund Pensions reassures retirees of brighter prospect

A group photo of retirees at the event By Sunny A. David, Awka Trustfund Pensions Limited has reaffirmed its commitment towards well-being of the retirees under its management. The South-East Regional Manager of the firm, Mr. Charles Ekpunobi made this declaration during a one-day pre-retirement and retiree forum held in Awka. Mr. Ekpunobi who noted that they have managed pension contributions and grown the individual pensioner accounts with impressive returns over the years and reassured them of consistency and improved services, noting that their funds are well protected. He however…

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