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Tue, Jan

Ten ships laden with petrol and other commodities have arrived the nation’s coastal region and are waiting to berth in Lagos ports. The Nigerian Ports Authority (NPA) disclosed this in its ‘ Shipping Position’ on Wednesday. Eight of the ship contained petrol, while the other two ships would berth with aviation fuel and bulk fertilizer.

Chief Executive Officer of Oando PLC, Pade Durotoye

More positive news have continued to trial Nigeria’s gradual pull-out from economic recession as indications emerged that the country’s oil output may reach 2.2m bpd as early as June.

Nigerian GDP. Photo [VenturesAfrica]

Nigeria’s aggregate Gross Domestic Product (GDP) increased to N26.028 trillion in nominal terms compared to N22. 235 trillion in the first quarter of 2016. This is even as the economy contracted by 0.52 per cent in the first quarter of the year though at a slower pace.

Nigerians may soon get more coins to trade with as the Senate is currently pushing for the change of lower naira notes to coins. The upper legislative chamber has called on the Central Bank of Nigeria to convert the country’s lower currency notes into coins to facilitate “highly repetitive” retail transactions.

Naspers Ltd the parent company of Multichoice Africa is considering the sale of DSTV, its Pay-TV business in Africa to MTN, as slow economic expansion in key markets stifles growth and viewers switch to cheaper online alternatives.

Idris Ibrahim - I.G of Police

The Inspector General of Police, Ibrahim Idris, has reiterated the commitment of NPF  to sustain recruitment into the force in the face of ongoing security concern in the country. DIG Shuaibu Gambo in charge of Finance and Administration made this known on Tuesday while on a tour of Kwara State Command in Ilorin.

General Elecric

American Industrial giant General Electric (GE) is set to launch a gas turbine assembly plant in Nigeria come 2018. This follows an investment of over $100 million into the plant in order to meet growing demands for gas-fired power plants in Nigeria and neighboring countries.

President of the World Bank- Jim Yong Kim

American President of the World Bank, Jim Yong Kim, is set to continue his leadership of the global apex bank with his second term in office commencing July 1, 2017.

Yong Kim was unanimously endorsed by Executive Directors of the World Bank on September 27, 2016 who cited the achievements of Bank Group staff and management during Dr. Kim’s first four years in office, and recognized his leadership and vision. They further acknowledged several accomplishments the institution has achieved during this time with strong Board support.

The Nigeria Customs Service (NCS) will be hosting a conference to be attended by Directors-General of Customs from all the African Union (AU) member countries. This is in furtherance of efforts to enhance trade, security and common position in the continent. The meeting will be taking place from 23rd to 25th May 2017.

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