FG Vows to Continue Naira-for-Crude Deal The Federal Government has confirmed that crude and refined product sales in Naira initiative will continue as a national policy. This assurance was contained in the official X (formerly Twitter) handle of the Federal Ministry of Finance on Wednesday morning...

Petrol Imports Surge to 154m Litres Weekly Amid Naira-for-Crude Crisis   Seven vessels carrying imported Premium Motor Spirit, popularly called petrol, are expected to berth at seaports along the nation’s borders between Monday, March 17, and Sunday, March 23. According to a document obtained from the Nigerian...

FG Procurement Projects Gulp N2.9tn in One Year - BPP The Bureau of Public Procurement issued 395 ‘No Objection’ certificates to various Ministries, Departments, and Agencies in the 2023 fiscal year, approving projects worth over N2.94tn. This was contained in the agency’s annual report, which detailed...

Exporters Lose $10m Over NPA's System Upgrade   Exporters under the aegis of the Association of West African Exporters and Maritime Professionals (AWAEMAP) have decried massive losses exceeding $10 million due to the Nigerian Ports Authority’s (NPA) integration of the Nigeria Export Proceed (NXP) into the...

NPA Proposes 15% Tariff Hike, May Trigger Fresh Price Increase   The Nigerian Ports Authority (NPA) has announced plans to implement a 15% increase in its tariffs, marking the first review in over three decades, since 1993. According to the NPA, all necessary approvals for the...

Nigeria's Total External Trade Rises to N6.9tn in Q2, Says Shettima Vice President Kashim Shettima has stated that trade facilitation programmes implemented by the current administration increased the country’s trade balance to N6.5tn in the second quarter of 2024. He said efforts to maximise economic opportunities...