Category: Business

FG fails to release $700m cabotage fund, 9 months after

The Snooth

The Federal Government of Nigeria has failed to release the $700 million Cabotage Vessel Financing Fund (CVFF) despite the expiration of its disbursement deadline. Established to support indigenous shipowners and foster the growth of the nation’s maritime sector, the CVFF has remained dormant for months, causing considerable frustration among industry stakeholders. The Cabotage Vessel Financing Fund (CVFF) was introduced to support the development of indigenous shipping capacity by assisting Nigerian shipowners in acquiring vessels for domestic coastal trade. The fund is derived from a 2% surcharge on all cabotage contracts…

Dangote: Fuel Scarcity is History; We Guarantee Festive Season Supply

Author sooth

Following a crucial meeting with President Bola Tinubu on Friday December 5, at the Presidential Villa, Abuja, Aliko Dangote made a bold promise to Nigerians: “The era of fuel queues… is gone forever.” The Dangote Group President guaranteed stable fuel supply for the Christmas period, announcing that his refinery is ready to flood the market. The company has informed the NMDPRA that it can now supply a massive 50 million litres of PMS daily, ensuring consumption needs are well covered and scarcity is history. “Historically, Nigeria has battled fuel queues…

Boosting Business Leadership: UK PACT Unveils Clean-Air Transport Initiative

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The United Kingdom (UK) PACT Drives Transport Climate Action in Nigeria. A new UK PACT project, officially launched in Abuja on Tuesday, November 2, will strengthen private sector capacity for clean-air initiatives. The program, titled “Transport Climate Action: Boosting Business Leadership for Clean Air in Nigeria,” aims to deliver significant climate and environmental improvements. To foster a cleaner and more prosperous future, the UK PACT has launched a collaborative initiative focused on reducing carbon emissions and driving inclusive, low-carbon economic growth, particularly within the transport sector. Dr. Emmanuel Onwodi, Project…

250 PWDs Benefit as Renewed Hope Empowerment Kicks Off in Bauchi

Author sooth

By: Bashir Hassan Abubakar Bauchi State on Wednesday, November 3 has joined the rest of the country in commemorating the 2025 International Day of Persons with Disabilities with the formal launch of the Renewed Hope Initiative (RHI) Economic Empowerment Programme for Persons with Disabilities. The event, held at Dr. Rilwanu Suleiman Adamu Square, drew top government officials, representatives of security agencies, media practitioners, and hundreds of prospective beneficiaries. Speaking at the ceremony, Bauchi State First Lady, Hajiya Aishatu Bala Mohammed, who represented the First Lady of Nigeria, Senator Oluremi Tinubu,…

Unlocking the Blue Economy: Akutah Highlights Critical Role of Sustainable Marine Resource Management

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The Executive Secretary and Chief Executive Officer of the Nigerian Shippers’ Council (NSC), Akutah Pius Ukeyima,Esq, MON, FCILT, Ph.D affirmed that a resilient Blue Economy is contingent upon science-based resource management, robust policy frameworks, modern technology, and active community involvement. Speaking in Abuja at the high-profile 8th National Tourism Transportation Summit and Expo, Dr. Akutah’s representative, Mr. Mustapha Zubairu, Director of Inland Transport Services, delivered the key message on sustainable blue economy management. The summit, operating under the compelling theme, “Tourism and Transportation Connectivity: Accelerating the Synergy for National Socio-Economic…

Nigerian Shippers’ Council’s Boss Akutah, Champions Benue Port Under Tinubu’s Renewed Hope Agenda

Author sooth

In a move to boost trade facilitation, the Nigerian Shippers’ Council, acting as the Nation’s Port Economic Regulator, is actively advocating for the development of a Benue River Port. The Benue River Port initiative was a central discussion point when members of the Benue State Shippers Association met with NSC Executive Secretary/CEO Akutah Pius Ukeyima, Esq, Ph.D, at the Abuja Liaison office to advocate for stronger developmental support. During a courtesy visit, the Shippers Association stressed the dire need for the Benue River Port, positioning it as critical infrastructure to…

Bauchi, Shandong Minsheng Group Strengthen Partnership to Develop Mineral Resources

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By: Bashir Hassan Abubakar Bauchi State has taken a major step toward economic diversification and industrial expansion as Governor Bala Mohammed hosted the leadership of China’s Shandong Minsheng Group at the Government House, Bauchi. The high-level visit followed the groundbreaking of the BMCC Nigeria Limited mining project in Baraza, Dass Local Government Area — a landmark joint venture expected to redefine the state’s mining and industrial profile. BMCC Nigeria Limited, co-owned by the Bauchi State Government and Shandong Minsheng Group, aims to tap into the state’s abundant mineral reserves while…

Tasteless Deals as NDLEA Intercepts ‘Loud,’ Tramadol in Toy Bears, Valued at N6.7 Billion in Christmas Cookies; 1,125 Rounds of Ammo Seized, Suspects Held in Lagos, Kaduna

Author sooth

In continuation of the routine fight against drugs in the Country, the NDLEA operatives have dismantled a sophisticated social media network distributing illicit substances packaged as imported Christmas cookies and snacks. The operation, part of Nigeria’s ongoing war against drugs, culminated in the arrest of two suspects during a raid on their Lekki hideout, in Lagos. The development was disclosed in a statement released to the press on Sunday, November 30. The agency’s Director of Media and Advocacy, Femi Babafemi, highlighted the syndicate’s methods: “The drug syndicate run by the…

Nigeria Returns to IMO Council in Category C, Commits to Global Maritime Governance

Author sooth

History Made as Nigeria secures International Maritime Organisation (IMO) Category C Council seat with 116 votes after sixteen years of failed attempts. The Nigerian delegation, led by the Honourable Minister of Marine and Blue Economy, Adegboyega Oyetola, attended the 34th Session of the International Maritime Organization (IMO) Assembly in London, where the successful election for the 2026–2027 Category C seat was held on Friday, November 28. Voting was conducted using a physical secret ballot, and the results were announced immediately after the close of the polls and the subsequent tallying…

Bauchi Governor Presents N878.1bn 2026 Budget to State Assembly

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By Bashir Hassan Abubakar Bauchi State Governor, Bala Mohammed, on Thursday presented a budget proposal of N878,152,907,900 for the 2026 fiscal year to the State House of Assembly for consideration. Tagged the “Budget of Consolidation and Sustainability,” the governor said the proposal is designed to strengthen financial reporting, boost revenue generation, and sustain ongoing development programmes. Mohammed said the fiscal plan is premised on an oil production estimate of 1.6 million barrels per day, a benchmark oil price of $68 per barrel, and an exchange rate of N1,440 to the…