Imports choke textile industry, rise to N1.1trn in two years
Nigeria’s dependence on imported textile materials has almost tripled with importation surging by 181 per cent in two years to N1.08 trillion in 2025 from N377.47 billion in 2023, despite repeated efforts to revive the oncethriving local textile industry.
N800m consignment trapped at port over absence of cargo equipment
Despite payment of N226 million duty on its N800 million worth of iron rod consignment by B/ Bird Capital with loan facility, the goods are still trapped at the Josephdon terminal in Tin_can Island port for over four weeks after obtaining all relevant clearing documents.
NIMASA constitutes Committee on Search and Rescue
THE Nigerian Maritime Administration and Safety Agency (NIMASA) has constituted a national maritime search and rescue Committee with a view to rescuing persons and vessels at sea.
FG earns $51.64 million from Onne Port in 40 months
The Federal Government earned about $51.64 million as fees paid by the concessionaire of the Onne Ports in Rivers State between 2006 and April 2009. The Commercial Manager of Intels Nigeria Ltd, Mr Akintoye Akinpelu, disclosed this while receiving the House of Representatives Committee on Privatisation and Commercialization at the Onne Port on Saturday.
NSE trading grounded as system fails
Transaction on the Nigerian Stock Exchange (NSE) was put in abeyance owning to the grounding of a power panel that helps to supply power to the trading machine on the trading floor.
Funds begin to flow to importers and
Donors formally com mitted funds today to the $50 billion Global Trade Liquidity Program (GTLP), triggering the first disbursements to importers and exporters in developing countries to help reverse the decline in trade resulting from the economic crisis.
