IF full deregulation of the downstream sec tor does not commence, the intermittent scarcity of petroleum product will remain with us”. This is the position of Major Oil Marketers Association of Nigeria, the body responsible for 57 per cent of petroleum products imported into the country.

MANAGEMENT of Folio Communications Ltd, has paid a total of N24,548,600.00 as part of the outstanding salary arrears and benefits to former and current staff of Daily Times ahead of planned return of the nation’s foremost Newspaper to news stand.

By Emmanuel Edukugho The crisis rocking the Nigerian French Village following allegations of corruption made against the management by 32 lecturers is now being investigated by the Economic and Financial Crimes Commission (EFCC).

Indications have emerged that the National Assembly may direct the reversal of the privatisation of some government firms and establishments due to the failure of the Bureau for Public Enterprises( BPE) to instill sanity in the privatisation exercise.
The decision to re-acquire these establishments stem from the fact that most of the firms that bought over the hitherto government companies have failed to fulfill their part of the bargain.

As part of its effort to ensure that fish consumers are not exploited, the Oyo State branch of the Association of Fish Farmers and Aqua-culturists of Nigeria (AFFAN), plans to open a central fish market at the Eleyele area of Ibadan this year.

The International Monetary Fund (IMF) has reviewed upwards its growth estimate for Africa to 4.2 per cent.
The Fund predicted last October that Africa will grow by 4.0 per cent. It also raised its growth estimate for 2011 to f.3 per cent from 5.2 per cent.

FRSGlobal, the only provider of risk management and regulatory compliance reporting solutions on a unified platform, has, again, won the financial-i award for the Mmost Innovative Regulatory Reporting Solution for the third consecutive year.

THE Council for the Regulation of Freight For warders in Nigeria (CRFFN) has commenced moves to checkmate foreigners involved in the practice of freight forwarding practice in Nigeria.

A maritime expert and shipowner, Captain Emmanuel Ihenacho has faulted claims by the management of the Nigeria Maritime Administration and Safety Agency (NIMASA) that indigenous shipowners do get jobs in the petroleum sector because most of their ships are not sea worthy.

The Akran of Badagry, Aholu Wheno Menu Toyi 1 has called on the Federal Government to build a deep sea port in Badagry, Lagos State as a way of checking diversion of Nigerian bound cargoes to neighbouring ports.