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28 ships carrying products expected at Lagos Ports

The Nigerian Ports Authority (NPA) says that 28 ships bringing petroleum products, food and other goods are expected at the Apapa and Tin Can Island Ports from June 24 to July 17. NPA made the announcement in its daily publication ‘Shipping Position’ sent to the News Agency of Nigeria (NAN) in Lagos on Monday...

Afreximbank nets $276m, offers shareholders $69m as dividend

The African Export-Import Bank (Afreximbank), at its yearly general meetings in Moscow, at the weekend, unveiled a $276 million net profit in 2018 financial year, even as shareholderd adopted its proposal of $69 million as dividend.Nigeria as a leading shareholder and current chair of the region’s largest trade bank, will no doubt get a large chunk of the dividend, as returns for financial contributions in terms of shareholding. ...

‘New NNPC appointments to spur reserves’ increase, reforms’

Stakeholders in the oil and gas sector have expressed confidence in the appointment of a new management team for the Nigerian National Petroleum Corporation (NNPC), describing it as a move to shore up reserves and reposition the corporation.    Petroleum Technology Association of Nigeria (PETAN) Chairman, Bank Anthony Okoroafor, said the appointment of a new team for the NNPC shows that the administration wants to build oil reserves, and is serious about repositioning the petroleum industry, especially the state-owned oil company....

How Nigeria, others lose $4.2tr savings over poor infrastructure, by World Bank

The cost of not investing in strategic infrastructure may not only pose challenge to ease of doing business, but also Nigeria and other economies classified as low and middle-income countries of potential savings estimated at $4.2 trillion. The World Bank Group, in its latest report, titled: “Lifelines: The Resilient Infrastructure Opportunity,” with the financial support of the Japan-World Bank Program for Mainstreaming Disaster Risk Management in Developing Countries, described the savings as an average, an indication that it could be more. Besides, at $4.2 trillion average net benefit, it also represents $4 in benefit for each $1 invested, the new report from the World Bank and the Global Facility for Disaster Reduction and Recovery (GFDRR) stated....

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