Biggest Container Vessel Berths At Lekki Deep Seaport

The largest container vessel to sail in Nigerian territorial waters landed at the Lekki Deep Seaport. The vessel measuring 367M in length overall christened “Maersk Edirne” has a Breadth of 48.2 and carries a Gross Registered Tonnage (GRT) of 142,131metric tonnes and a Deadweight Tonnage (DWT) of 147,340 metric tonnes, constituting 3,376 total cargo onboard was navigated to safety by the highly experienced and thoroughly equipped Pilots of the NPA.

Naira Falls To N1,330/$ At Parallel Market

The Naira on Tuesday, January 16, declined to N1,330/$ at the parallel market. If fell by 3.91 percent or N50 from the N1,280/$ rate recorded on Monday. This comes despite a 460.52 percent forex turnover rise to $147.81 million at the end of Tuesday's trading. The depreciation at the official forex market comes after the Nigerian government received a $2.25 billion foreign exchange boost loan from the African Import-Export Bank over a week ago.

Improved Exposure To Internet Reduced Nigeria’s Poverty Rate By 7% - World Bank

The World Bank has said consistency and improved exposure to internet and other related online materials brought down the rate of poverty by 7% in Nigeria. The bank disclosed this in a new brief themed, “Digital transformation drives development in Africa.”

Ajaokuta Steel Mill To Begin Production Of Military Hardware

The Minister of Steel Development, Shuaibu Audu revealed that the Federal Government plans to begin production of military hardware at Ajaokuta Steel Mill located in Kogi State. He made this known on Monday during an interview on the Channels Television programme, Politics Today.

Alex Otti Appoints Sanusi, Okonjo-Iweala, Others As Members Of Economic Council

Abia State Governor, Alex Otti has listed the seventh Director-General of the World Trade Organization (WTO), Dr. Ngozi Okonjo-Iweala, and the former governor of the Central Bank of Nigeria (CBN), His Highness Muhammad Sanusi II (14th Emir of Kano) and other eminent citizens as members of the newly inaugurated Abia Global Economic Advisory Council (AGEAC) Global Economy Council. The governor who made this announcement on Thursday, 18th of January 18 2024 during the inauguration of the council disclosed that the team is aimed at building the state into a self-sustaining economic hub.

NNPC Seeks Private Entities to Run Port Harcourt Refinery

In a move aimed at boosting efficiency and productivity, the Nigerian National Petroleum Company Limited (NNPCL) is seeking to transfer the operations of the Port Harcourt Refinery to private entities. The Minister of State for Petroleum Resources, Heineken Lokpobiri, announced the mechanical completion of the refinery last month. The national oil company is actively searching for reputable and credible Operations & Maintenance (O&M) companies to operate and maintain the Port Harcourt Refining Company (PHRC) to ensure reliability and sustainability to meet the nation’s fuel supply and energy security obligations.

CBN Pays $2Bn FX Backlog, Defaulters To Be Sanctioned

The Central Bank of Nigeria (CBN) has stated that it has paid approximately $2 billion in Foreign Exchange (FX) backlog across several sectors. This was made known in a statement issued by the CBN Spokesperson, Hakama Sidi Ali, adding that FX defaulters will be prosecuted.

Shettima Departs For Davos

Vice-President Senator Kashim Shettima has departed Abuja for Davos, to attend the 2024 World Economic Forum scheduled from January 15 to 19 2024. Senior Special Assistant to the Vice President on Media and Communications, Stanley Nkwocha, disclosed in a statement that the trip was at the instance of President Bola Ahmed Tinubu. Shettima who has represented Nigeria in Italy, Russia, South Africa, Cuba, China, and the US will join other political and business leaders across the world at the week-long annual Forum to discuss global socio-economic and development issues.

Lagos State Warns Over Poisonous Plantain Chips

The Lagos State Consumer Protection Agency (LASCOPA) has warned residents over the consumption of fried plantains popularly known as “plantain chips”, regarding the unhealthy practices and frying of the plantain chips.

Dangote Refinery Commences Diesel, Aviation Fuel Production

The largest single-train refinery in the world located in Nigeria’s commercial hub commenced production of diesel and aviation fuel in the early hours of Friday. This followed the delivery of six million barrels of crude supply to the refinery this week. However, the refinery has yet to produce Petroleum Motor Spirit, otherwise known as petrol. The Chief Branding and Communications Officer of Dangote Group, Anthony Chiejina, had late on Friday confirmed the commencement of operations to our correspondent. In a statement in the early hours of Saturday, the Dangote Group clarified that it has “commenced production of diesel and aviation fuel.”