• Niger Delta: Attacks on oil export facilities, damaging our economy – Buhari laments

    Niger Delta: Attacks on oil export facilities, damaging our economy – Buhari laments

    President Muhammadu Buhari has again lamented that attacks on pipelines and export facilities in the Niger Delta has become a huge security challenge which has far reaching consequences for the national economy.

    The president warned that these criminal conducts would no longer be tolerated in any form, stressing that every criminal act must be punished according to the laws of the land.

    Buhari, who stated this at the graduation ceremony of the Senior Executive Course 38 of the National Institute for Policy […]

  • How NAHCO workers connived in narcotic export attempt – NDLEA reveals

    How NAHCO workers connived in narcotic export attempt – NDLEA reveals

    National Drug Law Enforcement Agency (NDLEA) has revealed how staffers of the Nigerian Aviation Handling Company (NAHCO) allegedly conspired with suspected drug traffickers in a botched attempt to export 144kgs of ephedrine to Maputo, Mozambique.

    Narcotics are illegal or banned addictive drugs that affect mood or behaviour.

    NDLEA, in its preliminary investigation, alleged that the NAHCO officials, in charge of cargo safety and security at the Nnamdi Azikiwe International Airport (NAIA) Abuja, swapped already screened consignments with similar packages that contained narcotics.

    At […]

  • Niger Delta militants blow up Shell oil export pipeline

    Niger Delta militants blow up Shell oil export pipeline

    Nigerian militants say they have again blown up an oil pipeline carrying crude for export from Shell’s Forcados terminal in the country’s south.

    It’s the third attack in eight days on the Trans Forcados pipeline network.

    The first came just hours after President Muhammadu Buhari held inconclusive talks with stakeholders aimed at halting the sabotage.

    Militants and community leaders want development and a bigger share of revenues from oil that has massively polluted the southern Niger Delta.

    The Niger Delta Avengers said the Tuesday […]

  • FG working on adding value to goods for export, says Adeosun

    FG working on adding value to goods for export, says Adeosun

    According to reports, the Minister of Finance, Kemi Adeosun, has said the federal government is working on ensuring that the country’s exports are not only raw materials but also processed goods to allow the country earn more foreign exchange.

    Adeosun who noted that Nigeria’s export is not raking in enough foreign exchange as it ought to said concerted efforts are ongoing to ensure that raw materials are processed for added value before they are exported out of the country.

    Speaking at the […]

  • Senate bemoans forex loss over EU ban on beans export

    Senate bemoans forex loss over EU ban on beans export

    According to reports, the Senate yesterday bemoaned the economic effect of the three- year ban on the exportation of dried beans to European countries, saying it has depleted the nation’s foreign exchange earnings.

    Chairman Senate Committee on Health, Dr. Olanrewaju Tejuosho, disclosed this when he led Senators Matthew Urhoghide and Theodore Orji to the National Agency for Food and Drugs Administration Control (NAFDAC) office in Lagos.

    He said the ban is more worrisome because beans export to Europe has been a major […]

  • NDLEA grills NAHCO staff over attempt to export ephedrine to Mozambique

    NDLEA grills NAHCO staff over attempt to export ephedrine to Mozambique

    According to reports, the National Drug Law Enforcement Agency (NDLEA), at the Nnamdi Azikiwe International Airport (NAIA), Abuja, have commenced interrogation of the Chief Security Supervisor of Nigerian Aviation Handling Company (NAHCO) and three others in connection with attempt to export 144kg of ephedrine to Maputo, Mozambique.

    The drug which was concealed inside noodles and packed in three brown cartons together with relaxers and cereals was timely intercepted by NDLEA officers.

    Meanwhile, another staff of NAHCO, Victor Ahenje, a load controller linked […]

  • Four NAHCO staff in NDLEA’s net over attempt to export hard drugs to Mozambique

    Four NAHCO staff in NDLEA’s net over attempt to export hard drugs to Mozambique

    Officials of the National Drug Law Enforcement Agency at the Nnamdi Azikiwe International Airport, Abuja have commenced the interrogation of the Chief Security Supervisor of the Nigerian Aviation Handling Company and three others in connection with the attempt to export 144kg of ephedrine to Maputo, Mozambique.

    The drug, which was concealed inside noodles and packed in three brown cartons together with relaxers and cereals, was intercepted by NDLEA officers.

    Another staff of NAHCO, Victor Ahenje, a Load Controller, who is linked with […]

  • Agricultural export, way out of recession – Expert

    Agricultural export, way out of recession – Expert

    Mr Offon Udoffia, an export expert, on Friday, stressed the need for increased processing and storage of agricultural products for export as one of Nigeria’s way out of the current recession.

    Udoffia stated this in an interview with the News Agency of Nigeria (NAN) in Abuja as he suggested moves that could be taken to pull the economy out of slump.

    He said that an aggressive promotion of agricultural value chain would not only restore economic buoyancy but create job opportunities.

    He added […]

  • ExxonMobil resumes export three months after force majeure

    ExxonMobil resumes export three months after force majeure

    Mobil Producing Nigeria Unlimited, a unit of ExxonMobil, will resume shipment of Qua Iboe crude, Nigeria’s largest grade of crude oil in October, three months after the company had declared force majeure on the exports of the grade.

     

    This is coming as oil prices slumped three per cent tuesday following another gloomy prediction by the International Energy Agency (IEA) on demand growth that suggested that oversupply in the oil market might persist for longer than anticipated.

    ExxonMobil had declared the force majeure […]

  • Nigeria earns N1.7 trillion from crude oil export in Q2

    Nigeria earns N1.7 trillion from crude oil export in Q2

    Despite calls for diversification of Nigeria’s revenue base to other sectors like manufacturing and agriculture, oil and gas accounted for 92.9 per cent of the country’s export earnings during the second quarter of 2016.

    Specifically, out of the N1.872 trillion of export earnings by the Federal Government during the second quarter of 2016, oil and gas accounted for N1.735 trillion or 92.9 per cent of the total export value.

    The National Bureau of Statistics, which made this known in its second quarter […]

  • FG targets $5bn cassava export annually – Ogbeh

    FG targets $5bn cassava export annually – Ogbeh

    The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, says the country is targeting to reap over $5billion annually from cassava production in the next few years.

    Ogbeh stated this on Thursday in Abuja at the National Cassava Summit with the theme: “Toward $5 billion per Annum Cassava in the next five years.”

    Ogbeh said that the country had over time neglected agriculture in the last 30 years.

    He, however, added that the industry has the potential ‎to employ more youths and […]