Activities at the Lagos ports have gradually come to a grinding halt as the foreign exchange restrictions announced last year by the Federal Government takes a heavy toll on the nation’s economy. This situation has left many who depend on Africa’s hitherto busiest ports for living to idle away. The Nigerian Ports Authority recently released a report of its performance, with the Managing Director, Habib Abdullahi, saying the number of ocean-going vessels that called at the ports had declined by 8.1 per cent. He said a total of 5,090 vessels “called at the ports in 2015, which is a decrease…
Author: Pride Team
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LAUGH QUOTE Having children makes you no more a parent than having a piano makes you a musician. WISE GUYS ANSWER TO STUPID QUESTION QUESTION: What’s wrong with Lawyer jokes? WISE GUY: Lawyers don’t think they’re funny, and nobody else thinks they’re jokes. CUTTING COMMENT “The old system of having a baby was much better than the new system, the old system being characterized by the fact that the man didn’t have to watch.” – Dave Barry MARRIED LIFE NON FOR THE ROAD An old man is lying on his deathbed with his children, grandchildren, and older great-grandchildren all around,…
“Courting is one of those old fashioned words that no longer fits comfortably into today’s vocabulary. It invokes images of couples holding hands in an age of sex-free innocence. But, then, as in now, it is still about the search for ‘That Special Someone’. And, today, there may be no need for such physical contact as ‘hand holding’, as falling in love with your significant other can be done over the Internet.” This was the beginning of an article on “Love In An Internet Age: Real or Virtual”. – https://pridemagazineng.com/love-in-an-internet-age/ The issue one wants to examine in this article is:…
In anticipation of the biggest architectural showcase in Lagos, Open House Lagos has revealed the buildings to be visited during the 3 day tour. Under the guidance of professional buildings tour guides, registered participants will be given free access to the following buildings: Nigerian Railway Compound – selected houses, Locomotive Shed, British Council, Ikoyi, Bogobiri House, Ikoyi, Alara Store, Victoria Island, Plot G9, Banana Island, Radisson Blue Hotel, Victoria Island, Malaika Mews, Lekki, Maison Fahrenheit, Victoria Island, Freedom Park, Nestoil Tower, GTBank UNILAG Alumni Building,German Consulate, Makoko Hotspot, St Geroge’s Hall, Central Mosque, House on The Rock, Victoria Island, Churchgate…
Shell Petroleum Development Company (SPDC) and the Joint Venture (JV) partners remitted $42 billion to the Nigerian Government between 2011 and 2015. Royal Dutch Shell’s 2015 Sustainability Report stated the oil giant also paid royalties and corporate taxes worth $1.1 billion to the Nigerian government last year. It added that of the amount, Shell paid $0.6 billion and its subsidiary, Shell Nigeria Exploration and Production Company (SNEPCo), paid $0.5 billion. The report also said that Shell Companies in Nigeria (SCiN) awarded 93 percent of its total contracts during the year under review to indigenous firms and spent $0.9 billion on…
World Bank had raised its forecast for crude oil prices in 2016 to 41 U.S. dollars per barrel, saying that the oversupply in markets is expected to recede, In its latest Commodity Markets Outlook report, the Washington-based global lender raised its forecast for crude oil prices this year to 41 dollars per barrel from its January’s forecast of 37 dollars per barrel. The upgrade reflected the improving market sentiment and a weakening dollar, and the World Bank also expected the oversupply would become eased. “We expect slightly higher prices for energy commodities over the course of the year as markets…
As South Africans celebrate Freedom Day, more of them have fallen into the debt trap made worse by the increase in the general cost of living, said debt counsellor Wendy Monkley. Monkley said for many, debt stood in the way of achieving true freedom. “It has been twenty two years since we stood united as a nation at the country’s first non-racial elections, we now stand united again, but this time with one common enemy that enslaves all races and income groups, and prevents us from achieving true freedom. This enemy is debt,” said Monkley. The latest quarterly reports released…
Ratings agency Fitch had warned that the rapid rise in foreign currency-denominated private sector debt in emerging market countries combined with currency depreciation was increasing risks to their economies. A new report on eight of the largest emerging market economies estimated that median foreign currency debt of the private sector was 20 percent of GDP in the second quarter of 2015, out of a total of local and foreign currency private sector debt of 90 percent of GDP. This implies that foreign currency debt in the eight countries – Brazil, China, India, Indonesia, Mexico, Russia, South Africa and Turkey -…