The declining fortune of the naira in the interbank foreign exchange market worsened yesterday as it depreciated by 260 kobo against the dollar.

PRESIDENT Umaru Yar’Adua said yesterday that there was the need for Nigerians to be patriotic in consuming made in Nigeria goods if the country must attain the expected industrial base, just as it stressed that our industries have closed down because of lack of patronage.

ADOPTED Strategies to curb the activities of smuggling and their barons have yielded positive result in Enugu, as the Federal Operations Unit, Zone “C” of the Nigeria Customs Service (NCS) impounded a train of six-cabin load of contraband items worth over N100 million, on transit along the west-eastern route.The train was apprehended by a crack team on a tip off as it was entering the Enugu railway 2.

A group under the aegis of Nigerian Maritime Watch (NMW) has described the alleged death of 43 cadets in the Maritime Academy of Nigeria,Oron as untrue and a deliberate misinformation of the public.

THE Federal Government has commenced moves to construct 11 river ports and 21 jetties across the country with a view to boosting the economic activities of states where these ports are located.

African Circle Limited, a marine waste management firm has completed work on its plant and commenced test- running of the project situated at the Niger-Dock end of the Tin-Can Island port

Barely a month after resuming duty as the Customs Area Controller of the Ogun State Command, Controller Ahmed Mohammed Jamo has announced a seizure of nine prohibited items with a Duty Paid Value of N41.365,940.00. Also, all the vehicles used to convey the smuggled goods were impounded and parked at headquarters.

THE Nigerian Maritime Administration and Safety Agency (NIMASA) has entered into partnership with the Nigerian Meteorological Agency (NIMET) and the University of Ife to establish climate observatory centres.

CAPACITY Utilisation in the nation’s automotive industry has dropped from 90 per cent to 10 per cent.
However, in a fresh bid to stimulate activities in the sector, the Federal Government has approved the merger of the National Automotive Council (NAC) and the Centre for Automotive Design and Development Council(CADDC).

The Lagos Chamber of Commerce and Industry(LCCI), has announced its readiness to help unemployed youths to become entrepreneurs. Also, the Industrial Group of the chamber will today brain stormed on “Vision 20:2020, The Industrialist’s Dilemma.”