Nigeria, Vietnam Trade Relations Rises To $433.5 Million

Nigeria, Vietnam Trade Relations Rises To $433.5 Million

The Ambassador of the Socialist Republic of Vietnam, Pham Anh Tuan, has disclosed that bilateral ties between Vietnam and Nigeria stood at $433.53 million at the end of 2017. According to him, between 2015 and 2017, trade between the two nations grew at an average yearly rate of 36.49 per cent to hit $433.53 million in 2017 from $233.18 million in 2015. Speaking at the Nigeria-Vietnam Trade and Investment Promotion Forum, held on Monday, in Lagos, the Vietnam Ambassador noted that a stronger partnership between the two countries would further…

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BRT Company, Primero Signs M.O.U With Chinese Company On  Bus Assembly Plant

BRT Company, Primero Signs M.O.U With Chinese Company On  Bus Assembly Plant

The operator of Bus Rapid Transit system in Lagos, Primero Transport Services Limited, has said its bus assembly plant being built in the state will begin operation in the second quarter of next year. The Managing Director of the firm, Mr Fola Tinubu, disclosed this in Lagos on Tuesday. He also spoke on plans by the firm to phase out manual ticketing and replace it with a card system in the first quarter of 2019. Tinubu said that Primero had signed a Memorandum of Understanding with one of the biggest…

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Kwara IGR Rises To N2.2 Billion

Kwara IGR Rises To N2.2 Billion

Governor of Kwara State, Abdulfatah-Ahmed Kwara State Governor, Alhaji Abdulfatah Ahmed, says the state has achieved growth in its average monthly Internally Generated Revenue from N600m in 2015 to N2.2bn in the first quarter of 2018. Ahmed disclosed this at the Nigeria Governors’ Forum’s fourth annual National Peer Learning Event, held on Wednesday in Abuja. He said that the state was in 2014 confronted with difficult economic challenges on account of a significant drop in generated revenue and development in the global economy, which impacted its revenue negatively. He said…

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SAHCO IPO Share Allotment Worry States, FGy

SAHCO IPO Share Allotment Worry States, FGy

Director-General, Bureau of Public Enterprises, Mr. Alex Okoh Ahead of the Initial Public Offering of Skyway Aviation Handling Company Plc, the Bureau of Public Enterprises has said the 36 states of the federation and the Federal Capital Territory will be treated on an equal basis in the allotment of the shares of the company. In a statement made available to our correspondent in Abuja on Wednesday by the Head, Public Communication at BPE, Amina Othman, the Director General, Mr Alex Okoh, described the IPO as the first the privatisation agency…

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BUA Rattles Cement Market With Planned Reduction Of Prices

BUA Rattles Cement Market With Planned Reduction Of Prices

The Management of BUA Cement has said the firm is working towards reducing the price of its product (BUA cement) across the country. The General Manager, BUA South-South, Mr Nasir Ladan, disclosed this at a one-day training workshop on optimising cement usage to achieve better quality and yields of blocks in Port Harcourt. Ladan explained that the company was thinking about the reduction in the price of its brand despite the high energy and transportation costs, which he described as limiting factors. He also stated that the company would inaugurate…

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Lily Pond, Tin Can Island Container Terminal For Concession By FG

Lily Pond, Tin Can Island Container Terminal For Concession By FG

The Tin Can 11 container terminal, also known as Lilypond Terminal, is about to be advertised for public bidding, The PUNCH has learnt. Lilypond was concessioned in 2006 to AP Moller Terminals. Our correspondent learnt that the concession arrangement between the Nigerian Ports Authority and APMT, which lasted for 10 years, ended in 2016. The NPA, which confirmed the planned fresh bid round for the terminal on Monday, said the terminal would soon be open for fresh bidding as soon as the Public Private Partnership department of the agency concluded the paperwork….

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Dangote Refinery To Begin Fuel Production In Q1 2020

Dangote Refinery To Begin Fuel Production In Q1 2020

Dangote refinery under construction. Source: Google The President, Dangote Industries Limited, Aliko Dangote, has said the raining season this year caused devastating damage on his refinery project site. Dangote said the oil refinery, designed to process 650,000 barrels a day of crude, should start producing fuel in the first quarter of 2020 and be at full capacity within six months of that. In an interview with Bloomberg TV, he said, “We will finish the mechanical [part] by the end of 2019 if hopefully, we don’t have the same rain because…

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NNPC Declares $470 Million Rise In Crude Oil & Gas Sale

NNPC Declares $470 Million Rise In Crude Oil & Gas Sale

Group Managing Director of the NNPC, Dr. Maikanti Baru The Nigerian National Petroleum Corporation on Wednesday announced that its crude oil and gas export sale in August 2018 was $470m, indicating an upsurge of about $78m in comparison to July oil and gas export figures of $391.91m. The NNPC monthly financial and operations report for August 2018, which was released in Abuja on Wednesday by the corporation’s Group General Manager, Public Affairs Division, Ndu Ughamadu, indicated that crude oil export sales contributed $337.62m, representing 71.83 per cent of the dollar…

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