Connect with us

Business

PH Port Users Decry Poor Facilities

Published

on

Port Harcourt Port operators have decried the poor state of common users facilities in the port.

The common users facilities include the deplorable condition of Industry Road leading to the port, poor power supply, lack of water supply in the port, hazardous environment of the port and other utilities.

Reacting to the issue,  transporter at the port, Chief James Tompreye expressed his displeasure over the deplorable condition of Industry Road, the major access road linking Azikiwe Road, Nigerian Ports Authority (NPA) and Reclamation Road.

Tompreye acknowledged the fact that the port is a federal government parastatal, but appealed to the Rivers State Governor Rt. Hon. Chibuike Amaechi to extend his massive road rehabilitation programme to Industry Road to ease haulage of goods, stressing that some of the trailers that ply the road had broken down due to the poor condition of the road.

A dock-worker Lolo Tamuno, who spoke to The Tide, blamed the woes of the port on the indigenous companies and multi-national corporations operating within the area, saying that the companies have failed on their social responsibilities by not contributing to the development of their immediate environment, having contributed to the poor state of the road.

He noted that the road joins Reclamation Road (Witt and Bush), Industry Road to Azikiwe Road (Supabod Junction), pointing out that the companies that operate within the axis which include, NPA, Dangote Cement and Salt, Federal Salt Company, BUA Cement, Floor Mills, Union Dicon Salt, Conoil, Oando, Ibeto cement, Magcobar, Dresser Atlas and others, should contribute their resources and rehabilitate the road than waiting for the government.

Tamuno maintained that the 30 metric tons of trailers carrying cement, salt, flour, bitumen, containers, oil tankers and other consignments that ply the road daily are responsible for the deplorable condition of the road.

He urged the companies to help themselves than seeking for government intervention since the road plays important role in  the distribution of their respective products.

Print Friendly, PDF & Email
Continue Reading

Business

NSE Begins Week On Negative Note, Loses N19.49bn

Published

on

The Nigerian stock market began the week on a negative note as banking and consumer goods stocks, among others, triggered a N19.49bn loss.
At the end of trading on the floor of the Nigerian  Exchange Limited , the NGX All-Share Index dropped by 0.09 per cent to end at 43,270.94 basis points, while the market capitalisation declined to N22.58tn.
Market activities were mixed as the total volume of shares traded decreased by 30.19 per cent while the value traded rose by 34.05 per cent.
A total of 213.13 million shares valued at N2.36bn were exchanged in 4,105 deals, compared to 305.32 million shares worth N3.58bn in 4,450 deals last Friday.
FCMB Group Plc topped the traded stocks in terms of volume, accounting for 27.43 per cent of the total volume of trades while Airtel Africa Plc emerged as the most traded stock by value, representing 28.81 per cent of the total value of trades on the exchange.
14 firms gained compared to 21 losers.
AIICO Insurance Plc was the biggest gainer for the day, topping the gainers’ chart with a price appreciation of 8.57 per cent to N0.76 per share.
It was followed by LivingTrust Mortgage Bank Plc with a rise of 7.95 per cent, ending the day at N0.95 per share.
Analysing by sectors, three of the five major indices closed lower, led by NGX Oil & Gas (-0.56 per cent), NGX Consumer Goods (-0.23 per cent) and NGX Banking (0.18 per cent).
But the insurance (0.82 per cent) and industrial goods (0.002 per cent) indices gained at the end of trading.

Print Friendly, PDF & Email
Continue Reading

Business

… Introduces TIES To Boost  Business Loan

Published

on

The Central Bank of Nigeria (CBN) has introduced the Tertiary Institutions Entrepreneurship Scheme (TIES), which provides undergraduates and graduates with a platform to access loans.
The TIES’ underlying aim is to provide access to capital for Nigerian undergraduates and graduates with innovative entrepreneurial and technological ideas from polytechnics and universities.
TIES intends to shift undergraduates and graduates away from white-collar job pursuits and towards a culture of entrepreneurship development for economic development and job creation.
In a national biennial entrepreneurship competition, the Developmental Component would be distributed in the form of awards to Nigerian polytechnics and universities.
The competition aims to increase undergraduates’ awareness and visibility of high-impact entrepreneurial/technological concepts, foster entrepreneurial talent hunts in Nigerian polytechnics and universities, and encourage commercially viable and transformative technologies.
Interested Nigerian polytechnics and universities shall apply to participate in the national biennial entrepreneurship competition on a dedicated online portal.
Outlining brief details of the project, potential impact and evidence of originality of project, CBN said it is an innovation for students entrepreneurs.

Print Friendly, PDF & Email
Continue Reading

Business

CITN Applauds FG, Tax Authorities On Fiscal Policy Decisions

Published

on

The Chartered Institute of Taxation of Nigeria (CITN) has lauded the Federal Government and tax authorities on the giant strides made on fiscal policy decisions and tax administration measures initiated this year in the area of Finance Act 2021 and the introduction of TaxPromax solution.
President of the institute, Adesina Adedayo, who gave the commendation at the institute’s yearly award ceremony at the weekend in Lagos, assured the government and tax authorities of aligning with the measures and promised to provide professional thoughts and insights on ways through which they could achieve an efficient and effective Nigerian tax system.
Adedayo emphasised the need to address the database, adding that without knowing who the tax-payers are, there is no way they can take money from unknown tax-payers.
Database is the aspect we have been emphasising on as an institute and in doing this, there are so many of pockets of data we have. All the data must be harmonised to have a simple unique tax-payers identification number,” he said.

Print Friendly, PDF & Email
Continue Reading

Trending