Nigeria Raked In $150m From Coconut Oil In 2020       The Minister of Agriculture and Rural Development, Sabo Nanono, on Wednesday in Benin disclosed that Nigeria generated $150m from the export of coconut oil and its derivatives in 2020. Speaking through his representative, Bernard Ukattah, a deputy...

New Gas Project To Add N2.8trn To Nigeria’s Economy         About N2.8 trillion-revenue is expected from a new 200 million cubic feet gas project being promoted by the Nigerian Petroleum Development Company (NPDC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC). This revenue is expected to...

Oil Workers Threaten To Shut Down Pan Ocean Oil Company         Oil workers, under the auspices of National Union of Petroleum and Natural Gas (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) in Pan Ocean Oil Limited recently acquired by Asset...

Cost Of Doing Business Rises By 600% At Tin Can Port         The cost of doing business especially for importation of goods through the Tin Can Island Port (TCIP) in Lagos has risen by 600 per cent in just one year. This is as importers and other...

Customs Strike Force Impounds N767m Worth Of Goods In 3wks         The Comptroller General of Customs, Strike Force has intercepted contrabands and raised Debit Notes (DN) on under-declared cargoes worth N767million in three weeks. Recall that importation and smuggling through the Lagos seaports and land borders, increase...

Customs Impound Falsely Declared Cargoes Worth N767m       The Comptroller-General of Customs Strike Force in Zone ‘A’ has intercepted contrabands and raised Debit Notes on under-declaration of cargoes worth N767m. While the contrabands were smuggled into the country from Benin Republic, the DN raised were from 13...