War risk premium drives rise in shipping costs

Nigerian ports are some of the most expensive in the West African region, no thanks to the numerous fees paid on Nigerian-bound cargoes, including the WRI premium, ANOZIE EGOLE writes The maritime industry has experienced a significant increase in war risk insurance premiums in recent years, particularly for Nigerian-bound shipments. This trend is driven by a confluence…

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Africa Can Tackle Energy Deficits Through Unison , says Lokpobiri

Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has called for stronger collaboration among African nations to effectively address the continent’s energy challenges. He made the call while officially opening the Nigerian Exhibition Pavilion at the ongoing Offshore Technology Conference (OTC) in Houston, Texas, United States. Speaking under the theme “Africa’s Energy Renaissance:…

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EFCC Detains Former NNPC GCEO Mele Kyari Over Alleged Financial Misconduct

….Kyari to Spend Weekend in Custody as Anti-Graft Agency Probes Oil Sector Irregularities Abuja, Nigeria – The Economic and Financial Crimes Commission (EFCC) has detained Mele Kyari, the immediate past Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPC), as part of a deepening probe into alleged financial mismanagement and abuse…

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