Maritime

Nigerian Ports Authority Achieves Record Annual Revenue of N501bn in 2023

The Nigerian Ports Authority (NPA) reported substantial growth in its annual revenue, reaching N501bn in 2023 compared to N361bn in the previous year. Managing Director...

CBN Raises Customs Duty FX Rate Again, Adding to Importers’ Costs

Within twenty-four hours of a previous adjustment, the Central Bank of Nigeria (CBN) has once again increased the foreign exchange (FX) rate for calculating...

House Committee Summons Ministers Over Seaport Concession Irregularities

The House of Representatives Committee on Privatisation and Commercialisation has called upon the Ministers of Marine and Blue Economy, as well as Transportation, to...

CBN Cuts Import Duty Exchange Rate to Boost Trade Stability

In a move to foster trade stability, the Central Bank of Nigeria (CBN) has recently announced a notable reduction in the exchange rate used...

Lekki Deep Sea Port Welcomes Historic Arrival of LNG-Powered Container Vessel

In a groundbreaking development for Nigeria's maritime industry, the first Liquefied Natural Gas (LNG)-powered container vessel, 'CMA CGM Scandola,' made history by berthing at...

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