Category Archives: Business

BUA To Establish 3 Million MTPA Cement Plant, 50 MW Power Plant In Adamawa State

BUA Cement, One of West Africa’s largest Cement companies has announced that it is set to establish a three million metric tonnes cement plant and 50 megawatts power plant in Guyuk and Lamurde local governments of Adamawa state in the North Easter region of Nigeria. This was revealed when the Chairman of BUA, Abdul Samad Rabiu led the BUA Cement Management team on a courtesy call to the Adamawa State Governor, Ahmadu Umaru Fintiri in the Government House, Yola.

How AMCON Took Over Festus Fadeyi’s Pan Ocean Assets in Lagos Over N240b Debt – VIDEO

The Asset Management Company of Nigeria, AMCON, on Thursday, July 2, took possession of Pan Ocean Oil Corporation Nigeria Limited, and its affiliate companies owned by billionaire oil mogul, Festus Fadeyi, over an unpaid N240 billion loan debt.Justice Mohammed Liman of the Federal High Court sitting in Lagos had on June 22, granted an ex-parte application by counsel to AMCON, Kunle Ogunba SAN, to take interim possession of the assets of Pan Ocean over the unpaid loan. The court also granted the application by AMCON to take over several oil mining and oil prospecting licenses exemplified by OML 147, 152 and 98 respectively owned by the company. Properties in Victoria Island, Lagos among several others were also included for possession.

Cost of Clearing Imported Cars in Nigeria (Fairly Used Cars and Trucks)

 Are you here online searching for possible cost of clearing imported cars in Nigeria (Fairly Used Cars and Trucks) via Apapa or Tin-Can Island Ports Lagos?If yes, then please don’t look too far because in this post you will discover a list that contains the Nigeria custom service approved clearing rates plus clearing agent fees for imported Fairly Used Cars and Trucks) in Nigeria ports.

Below is the cost of clearing imported fairly used cars (Tokunbo) or new cars and trucks in Nigeria via Apapa or Tin-Can Island Ports in Lagos.

German Man accidentally buys 28 Tesla cars online worth $1.4million

A German national accidentally purchased 28 Tesla Model 3 vehicles online amounting to a whopping  $1.4million, reportedly due to a technical glitch on the company’s website.A man, who identifies himself as “Ballon-Man” on Reddit, took to the online platform to share the anecdote about his family’s “accidental purchase”.

Amazon Boss, Jeff Bezos now Richer than Before Divorce

Amazon has recorded a 4.4 percent surge in its stock value, making Jeff Bezos richer than he was, after his divorce in 2019.The 56-year-old founder and CEO of Amazon is now worth $172 billion according to the Bloomberg Billionaires Index.

Swiss low-cost airline EasyJet sacks 727 pilots

Budget airline easyJet is preparing to axe 4,500 staff and permanently close three major UK airport bases as part of a huge restructuring following the global coronavirus pandemic.

The company said hundreds of pilot roles are at risk – with formal consultations starting on Tuesday.

OPay Shuts Down ORide, OCar, OExpress In Nigeria

Popular Chinese-owned African fintech startup, OPay, has announced it is suspending some of its Nigerian operations including ORide, OCar, and OExpress, excluding its payment operation, Opay.

In a statement on Thursday, the company said it is pausing some of its operations “due to the harsh business conditions which have affected many Nigerian companies, including ours, during this COVID-19 pandemic, the lockdown and the government ban.”

1200 Ton Ramp Barge & Tugboat For Hire In Lagos

1200Ton Ramp Barge and Tugboat Available for Hire in Lagos,Nigeria.          Price : N600,000/day.

Inaugurates Gold Refinery, Boosts Small-scale Mining

The Federal Government of Nigeria has commissioned the operations of Dukia Gold and Precious Metals Project (DGPMP). The project is expected to enable Nigeria mine her gold reserves properly, trade responsibly and refine locally.

The Vice President, Prof. Yemi Osinbajo, while performing the virtual commissioning of the project, said Nigeria has potential reserves of 200 million ounces of gold reserves. He disclosed that the Dukia Gold and Precious Metals Project has been under construction for 7 years and it was his pleasure to see that the project is ready to start operations.

PPPRA Increases Price Of Petrol From N140.80 To N143.80 Per Litre

The Federal Government Of Nigeria through the Petroleum Products Pricing Regulatory Agency (PPPRA) has announced a new retail price band for oil marketers across the country.

In a circular dated July 1st, sighted by Igbere TV, the downstream regulator said oil marketers are now expected to sell petrol within the price range of N140.80 and N143.80.