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Maritime Unions Threaten Port Shutdown Over Arrest of NPA Workers by Lagos State Officials
The Business NG
|The BusinessNG
Yesterday, Thursday May 29, 2025, organised labour under the Senior Staff Association of Statutory Corporations and Government Owned Companies (SSASCGOC) Maritime Branch and the Maritime Workers' Union of Nigeria (MWUN) issued a 12-hour ultimatum to the Lagos State Government to release three Nigerian Ports Authority (NPA) workers recently arrested by state officials at Barracks bus stop, Apapa, Lagos.
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Comrade Akinola Bodunde, President of SSASCGOC Maritime Branch, speaking on behalf of both unions, threatened to shut down port operations if the workers were not freed. He identified Hassan Adegoke, Special S
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FLERE HISTORIER FRA The Business NG
The Business NG
Nigerian Stocks Outpace Inflation with 38% Gain
Nigeria's stock market has continued its impressive rally in 2025, delivering real positive returns for investors as inflation eases.
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Banks Push Back as AMCON Levy Hits N847bn
Calls Grow to Scrap AMCON After 15 Years
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Nigerians Dismiss FG's N330bn Cash Transfer Claim
The Federal Government's claim that it disbursed 330 billion in cash transfers to poor and vulnerable households has sparked widespread disbelief, with many Nigerians dismissing the announcement as fraudulent and lacking transparency.
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Pension Savings for Informal Workers Surge to N1.46bn
Nigeria's informal workers are increasingly securing their financial future, with retirement savings under the Personal Pension Plan (PPP) climbing by 765 percent in just four years, according to the Pension Fund Operators Association of Nigeria (PenOp).
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Ibas Bows Out, Says Peace Is Rivers' Gain
Retired Vice Admiral Ibok-Ete Ibas, who served as Sole Administrator of Rivers State for six months, says his administration succeeded in restoring peace and stability in the state despite operating under extraordinary conditions.
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Banks Must Approve MDs Six Months Ahead – CBN Orders
The Central Bank of Nigeria (CBN) has directed Domestic Systemically Important Banks (DSIBs) to secure regulatory approval for their Managing Director/Chief Executive Officer (MD/CEO) successors at least six months before the incumbent’s tenure ends, as part of efforts to strengthen corporate governance and ensure stability in the financial system.
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The BusinessNG
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FG Backs Down on 5% Fuel Tax Implementation
The Federal Government has clarified that it has no immediate plan to enforce the controversial 5% Petroleum Products Tax provided in the recently enacted tax legislation.
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NAICOM Sets July 2026 Deadline for Insurance Recapitalisation
The National Insurance Commission (NAICOM) has issued fresh guidelines on the minimum capital requirements (MCR) for insurance and reinsurance firms in Nigeria, directing all operators to fully comply by July 30, 2026.
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The BusinessNG
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Banks' Loan Rates Soar to 36%, SMEs Struggle to Survive
Nigerian businesses are reeling under the weight of soaring bank lending rates, which now range between 29% and 36%, raising fears of slower growth, stalled investments, and rising job losses.
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The BusinessNG
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NUPENG Strike: Fuel Supply Secured, Dangote Tells Nigerians
Dangote Refinery has dismissed fears of looming fuel shortages following the nationwide strike declared by the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG).
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The BusinessNG
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