MMS PLUS

Abuja Farmers, Others Lost N12bn To Ginger Disease – FG The Federal Government, on Monday, confirmed the outbreak of ginger blight epidemic in four states in Nigeria, adding that ginger farmers have lost over N12bn due to the disease. It disclosed this at the inauguration of the National Ginger Blight Epidemic Control Taskforce in Abuja and revealed that...

Tinubu Okays Infrastructure Devt Fund, FG Eyes $25bn Annually President Tinubu President Bola Tinubu on Monday approved the Renewed Hope Infrastructure Development Fund to bridge the country’s $25bn per annum infrastructure funding gap. The new initiative will be domiciled in the Presidency, the Minister of Information and National Orientation, Mohammed Idri...

mmsplusng.com

CBN Directs BDCs To Sell Dollar At N1,269 The Central Bank of Nigeria has disclosed that it will be allocating $10,000 to each Bureau de Change operator at N1,251/$. This was contained in a circular made available to media and signed by the bank’s Director, Trade and Exchange Department, Dr Hassan Mahmud on Monday. The apex bank directed ...

NPA’s Electronic Call-Up System (ETO): Prospects, Challenges and The Way Forward By Kingsley Anaroke, FCIPDM From left: Publisher of MMS Plus Newspaper, Mr. Kingsley Anaroke; Managing Director of Nigerian Ports Authority, NPA, Mr. Mohammed Bello-Koko; Assistant General Manager, Kings Communications Limited, Mrs Ifeoma Iloh; General Manager, Corporate &Strategic Communications, N...

Shippers Lament Rising Cargo Clearing Cost Nigerian shippers have blamed the high cost of clearing and the fluctuating exchange rate for cargo clearance for the rising inventory among manufacturers. The shippers spoke on Wednesday in Lagos at the maiden press conference of the National Shippers Association of Nigeria. Shippers are exporters,...

MMA Customs Generate N28bn Revenue In Two Months The Nigeria Customs Service, Murtala Muhammed Airport Command said it raked in N28bn as revenue between January and February. This was disclosed in a statement on Wednesday by the Public Relations Officer of the command, Victor Ogagbor. The Customs Area Controller in charge of the command, Mohammed....

50% Of Shell’s Gas Flaring Occurred In Nigeria –Report Gas flaring Oil and gas giant, Shell Plc, has said around 50 per cent of total routine and non-routine flaring in its integrated gas and upstream facilities in 2023 occurred in assets operated by the Shell Petroleum Development Commission and Shell Nigeria Exploration and Production Company. This wa...

MIDOil To Build 100,000bpd Modular Refinery In Lagos MIDOil Refining and Petrochemicals Company Limited has concluded plans to commence the construction of a 100,000 barrels per day modular refinery at Sekungba/Ejinrin, Ikosi/Ejinrin Local Council Development Area of Lagos State. The Executive Chairman of MIDOil, Mrs Elizabeth-Omolara Akintonde, discl...

Senate Confirms Alade AMCON Boss Alade The Senate confirmed Gbenga Alade as the Managing Director of the Assets Management Company of Nigeria on Tuesday. Announcing this in a statement, the Head of Corporate Communications Department of AMCON, Jude Nwauzor, disclosed that three other executive directors of the agency were also conf...

Terminal Operator Inaugurates Freight Station At Onne Port West Africa Container Terminal, owned by APM Terminals, has unveiled a new container freight station in Onne Port, Rivers State. In the statement, the company said that the new facility would WACT a step closer towards its strategic vision of becoming the ‘gateway to Eastern Nigeria and beyond. It...

FID On $25bn Nigeria-Morocco Pipeline For Dec — Kyari NNPCL GMD, Mele Kyari The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari has said that the Final Investment Decision for the $25bn Nigeria-Morocco Gas Pipeline Project will be made in December 2024. Kyari made the disclosure while speaking during a Leade...

N30tn Loans: Senate Uncovers Fresh Infractions, Summons Cardoso Cardoso The Senate Ad-hoc Committee probing how the N30tn Ways and Means loans were obtained from the Central Bank of Nigeria and spent by the former President Muhammadu Buhari-led administration says it has uncovered  some infractions in the in the process of obtaining the overdraft. As such, the ...

Equity Market Dips 0.40% On Sell-Offs Trading Floor of NSE The Nigerian exchange declined by 0.40 per cent as investors reacted to the latest Consumer Price Index figures from the country’s statistics bureau. At the close of trade on Monday, the All-Share Index and the market capitalisation shed 0.40 per cent to 104,663.34  points an...

Naira Depreciation Pushes Nigeria’s Imports To N35tn Nigeria’s total imports grew to N35.9tn in 2023, from N25.5tn recorded in 2022, according to data by the National Bureau of Statistics. A breakdown of the data showed that in the first and second quarters of 2023, total imports stood at N6.4tn. It increased to N9tn in the third quarter and again t...

PH Refinery: Marketers Eye Fuel Price Reduction, Ready To Load Port Harcourt Refinery he Independent Petroleum Marketers Association of Nigeria and the Major Energy Marketers Association of Nigeria have projected a marginal reduction in the pump price of Premium Motor Spirit, popularly called petrol, produced from the Port Harcourt Refining Company once the pla...

Trade Facilitation: There Are Limits To What Customs Controllers Can Seize- Compt Oramalugo Comptroller Ben Nkem Oramalugo  Trade facilitation in supply chain could mean many things in relations to professions and duties at hand. It has become one subject matter that is being overused and misused within the freight forwarding ecosystem.  In this interview with Comptroller Ben Nkem Orama...

Senate Warns Against Supplementary Budget, Excess Loans The Senate has warned the executive against increasing the budget size through a supplementary budget, advising the government to use the excess savings that are expected to be made from the recent depreciation of the naira to fund deficit. This came against the backdrop of the depreciation of the l...

FG Eyes $1bn W’Bank Loans For IDPs, Agric The Federal Government is in talks with the World Bank to complete the processes of obtaining over $1bn loans to address the challenges facing Internally Displaced Persons and their host communities, as well as bolster rural access and agricultural marketing in the country. The request is contained....

IWD: MMS Hall of Fame Crowns Ten Amazons, Amb. King Chairs Occasion Ten women with remarkable difference and impact have been nominated for recognition as Inspired Amazons to mark the 2024 International Women’s Day(IWD)  by the  MMS Woman of Fortune Hall of Fame(WoFHoF) Initiative, a non-profit organisation which has the Governing Council Chairperson as Amb. D...

Navy Acquires Patrol Vessels To Boost Maritime Security Chief of Naval Staff, Vice Admiral Emmanuel Ogalla The Nigerian Navy has disclosed that it has acquired two high-endurance offshore patrol vessels from Dearsan Shipyard, Turkey, to boost maritime security. The Chief of Naval Staff, Vice Admiral Emmanuel Ogalla, disclosed this in Calabar on Wednesday...

Terrorism: UN Begins Lagos, Airports Security Audit A team of experts from the International Civil Aviation Organisation, the United Nations agency that regulates the global aviation industry, has arrived Nigeria to carry out security audits of the Murtala Muhammed International Airport, Lagos, and the Nnamdi Azikiwe International Airport, Abuja. The...

Senate Gives Panel Six Weeks To Probe N30tn CBN loans The Senate President, Godswill Akpabio,  has charged the panel members investigating the N30tn “Ways and Means” loans secured from the Godwin Emefiele-led Central Bank of Nigeria by the Federal Government not to leave any stone unturned, saying the panel must unravel everything about the facili...

NIMASA DG Jamoh’s Tenure Expires, Hands Over To Ofodile The director-general of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Bashir Jamoh, has handed the affairs of the regulatory agency to the Executive Director, Finance and Administration, Chudi Ofodile, following the expiration of his tenure. Jamoh handed over after his four-yea...

Blue Economy Can Add $1.5tn To Global Economy – Don Professor Charles Ogbulogo The Vice-Chancellor of Maduka University, Enugu State, Professor Charles Ogbulogo, has said Nigeria’s blue economy holds great potential for the country and can contribute $1.5tn to the global economy if properly utilised. Ogbulogo, who was represented at the event by th...

AfCFTA: Nigeria Commences Export To S’Africa, Others In April Chief Executive Officer, Nigerian Export Promotion Council (NEPC), Olusegun Awolowo. Nigeria is to begin the formal export of locally produced commodities to South Africa, Rwanda, Cameroon and Kenya from next month under the Guided Trade Initiative of the African Continental Free Trade Area, the nat...

NPA Generated N501bn Revenue In 2023 – Bello-Koko Koko Bello, MD, NPA The Nigerian Ports Authority has said that its annual revenue grew to N501bn in 2023 from N361bn in the prior year. The Managing Director of NPA, Mohammed Bello-Koko, in a statement on Thursday, attributed the revenue growth to the implementation of performance improvement measur...

Alleged N1.2bn Fraud Leads to Suspension of REA Boss and Directors by Tinubu Ahmad Salihijo President Bola Tinubu has indefinitely suspended the Managing Director/Chief Executive Officer of the Rural Electrification Agency, Ahmad Salihijo, alongside three executive directors of the agency, from office. This followed “new findings unearthed during a comprehensive investigat...

Independent Marketers To Commence CNG Sales – Official Members of the Independent Petroleum Marketers Association of Nigeria have disclosed they are in talks with the Federal Government to commence the sale of compressed natural gas in their filling stations. The National Vice President of IPMAN, Hammed Fashola, in an exclusive interview with media sour...