Business – Page 15 – Eavesdropper online

28 Aug

Celebrating 40 Years of Resilience: Le Look Nigeria Set to Mark Milestone Anniversary with Empowerment and Innovation

Esther Komolafe0 CommentsBusiness

Le Look Nigeria Limited, a renowned manufacturer of luxury lifestyle branded bags, is gearing up to celebrate its 40th anniversary on October 1, 2025. The event, themed "Legacy of Resilience: Empowering Entrepreneurs for Africa's Economic Future," promises to be a landmark occasion, bringing together senior government officials, private sector leaders, development partners, and entrepreneurs. A Legacy of Innovation and Empowerment Founded in 1985 by Chief Mrs. Chinwe Ezenwa, Le Look Nigeria has grown from a small women-led business to a globally recognized brand, exporting unique, locally crafted bags to international markets. The company has stayed true to its mission of…

27 Aug

Customs Hands Over ₦3.8bn Worth of Expired Drugs to NAFDAC: A Victory in the Fight Against Counterfeit Products

Esther Komolafe0 CommentsBusiness

The Federal Operations Unit (FOU) Zone A, Ikeja, of the Nigeria Customs Service, has handed over three truck-loads of various expired pharmaceutical products worth ₦3.8 billion to the National Agency for Food and Drug Administration and Control (NAFDAC). This handover is a significant milestone in the fight against fake and counterfeit products in Nigeria. The handover is a result of the Memorandum of Understanding (MoU) between the Nigeria Customs Service and NAFDAC. The Comptroller of FOU, Lagos, Mohammed Shuaibu, reaffirmed the Service's dedication to upholding the terms of the MoU and promoting collaborative efforts with NAFDAC. The expired drugs, which…

27 Aug

Nigerian Shippers’ Council Urges Review of War Risk Insurance Surcharge: ‘Unfair and Outdated’

Esther Komolafe0 CommentsBusiness

The Executive Secretary/CEO of the Nigerian Shippers' Council, has delivered a goodwill message at the Maritime Reporters Association of Nigeria (MARAN) Annual Lecture, calling for a review and removal of war risk insurance surcharges imposed on vessels calling at Nigerian ports. The lecture's theme, "Burden of War Risk Insurance Surcharge on Nigerian Maritime Trade – A Case for Review," reflects a critical concern shared by industry stakeholders, government agencies, and economic actors. Despite remarkable progress in maritime security, Nigeria remains unfairly classified as a high-risk shipping zone, attracting exorbitant war risk insurance premiums and surcharges. The Nigerian Shippers' Council has…

27 Aug

Oyetola Demands End to War Risk Insurance Burden: ‘Unjust and Detrimental to Nigeria’s Economy

Esther Komolafe0 CommentsBusiness

The Minister of Marine and Blue Economy, Adegboyega Oyetola, has called for the immediate review and removal of war risk insurance premiums imposed on Nigerian-bound vessels. Speaking at the 3rd Annual Maritime Lecture of the Maritime Reporters Association of Nigeria (MARAN), Oyetola described the surcharge as "outdated, unjust, and detrimental to the nation's economic competitiveness." Oyetola's demand comes on the heels of significant achievements in Nigeria's maritime sector, including: Record revenue generation: Agency-generated revenues more than doubled from ₦700.79 billion in 2023 to ₦1.39 trillion in 2024. Maritime security: Zero piracy incidents recorded in the past four years due to…

26 Aug

Apapa Command Smashes ₦161bn Revenue Record with B’Odogwu Platform, Comptroller Olomu Pledges Improvement

Esther Komolafe0 CommentsBusiness

The Apapa Command of the Nigeria Customs Service (NCS) has collected a staggering ₦161,258,483,474.63 in revenue within three weeks using the Unified Customs Management System, also known as B'Odogwu. The Customs Area Controller, Comptroller Babatunde Olomu, has reassured stakeholders that the system will continue to improve and surpass user expectations. Comptroller Olomu commended stakeholders for their patience and understanding, expressing optimism that the B'Odogwu platform will facilitate more trade than previous ICT systems. He attributed the success to the intense stakeholders' engagement championed by the Comptroller-General of Customs, Bashir Adewale Adeniyi, MFR. The Command has initiated dialogue with the Nigerian…

18 Aug

Former Maritime Workers Union President Brings Joy to NYSC Members with Games and Sports Event

Esther Komolafe0 CommentsBusiness

The former President General of the Maritime Workers Union (MWUN) and current Vice President of the Nigeria Labour Congress, Prince Adewale Adeyanju has once again demonstrated his commitment to giving back to the community. Prince Adeyanju the sponsor of the games and sports began the initiative in 2024 and since then been constituent to the self acclaimed assistant. Although he was unavoidably absent to do the donations of cash and medals to the Corps members but was ably represented by the branch treasurer of the Union, Comrade Oluwole Micheal Adetumi . His words: "On behalf of Prince Adewale Adeyanju, who…

12 Jun

MARITIME MASTERMIND: The New Experience Newspaper Celebrates 8 Years of Maritime Excellence with Industry Titans

Esther Komolafe0 CommentsBusiness

The New Experience Newspaper is gearing up to celebrate its 8th anniversary in grand style, bringing together the who's who of Nigeria's maritime industry for a spectacular event. Themed "Repositioning Nigeria's Maritime Industry: Challenges, Opportunities, and the Way Forward," the celebration promises to be an unforgettable experience, featuring top-notch keynote addresses, panel discussions, and entertainment. A Night to Remember The event, scheduled for July 24, 2025, at the Sacred Heart Multipurpose Hall in Apapa, Lagos, will be a masterclass in networking, knowledge sharing, and fun. Attendees can expect to rub shoulders with industry leaders, policymakers, and stakeholders, including former ministers,…

03 Jun

Customs Service Scores Big: N1.285 Billion Worth of Contraband Seized

Esther Komolafe0 CommentsBusiness

The Federal Operations Unit Zone A of the Nigeria Customs Service has made significant seizures worth N1.285 billion in two weeks, intercepting contrabands including rice, used vehicles, cannabis sativa, and premium motor spirit. Comptroller Mohammed Shuaibu disclosed this during a press briefing, highlighting the unit's renewed vigor in fighting smuggling and criminalities. Seizures: 2,051 bags of 50kg foreign parboiled rice (equivalent to 4 trailer loads) 11 used vehicles (tokumbo vehicles) 1,665kg of cannabis sativa 4,000 liters of premium motor spirit (PMS) Expired goods, new towels, and other contrabands Arrests and Revenue Recovery: 7 suspects arrested in connection with the seizures…

30 May

Customs Foils Smuggling Attempt, Seizes 39,425 Liters of PMS Worth N63.4 Million

Esther Komolafe0 CommentsBusiness

The Nigeria Customs Service has made a significant bust, intercepting 1,577 jerrycans of premium motor spirit (PMS) totaling 39,425 liters, with a duty-paid value of N39,425,000. The seized PMS, intended for smuggling to Benin Republic, was confiscated across various flashpoints in Ilaro, Imeko, Badagry, Owode, and Ajilete. Eight vehicles used for conveying the PMS were also seized, with a duty-paid value of N24 million. The cumulative value of the seized goods stands at N63,425,000. Key Highlights Seized PMS:* 39,425 liters of PMS, valued at N39,425,000 Vehicles:* 8 vehicles seized, valued at N24 million Total Value:* N63,425,000 Auction: The seized PMS…

19 Mar

Africa’s Maritime Sector Poised for Green Shipping Revolution

Esther Komolafe0 CommentsBusiness

Nigeria's Minister of Marine and Blue Economy, Adegboyega Oyetola, has urged maritime stakeholders across Africa to harness the continent's renewable energy potential to become a global leader in green shipping. Oyetola made this call at the maiden Africa Strategic Summit on Shipping Decarbonization in Abuja, emphasizing that Africa must assert its presence and safeguard its interests as the International Maritime Organization (IMO) advances efforts to adopt the Greenhouse Gas (GHG) Emissions Reduction Strategy. Dr. Dayo Mobereola, Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), echoed Oyetola's sentiments, stressing that Africa must prioritize sustainable and responsible maritime practices…