<< Back             Poser >> NIMASA commits to shipyard evelopment, capital flight cuts By Godwin Oritse The Nigerian Maritime Administration and Safety Agency, NIMASA, has reiterated its commitment to strengthening Nigeria’s shipbuilding and shipyard development as part of efforts to deepen the blue economy and curb capital flight. Speaking at a stakeholders’ breakfast meeting organised by the Agency themed: “Dissecting the Issues, Challenges, and Prospects in the Shipbuilding Segment – Discussing Funding Models, Incentives, and Policy Support for Shipyards Growth,” NIMASA’s Executive Director, Operations, Engr. Fatai Taiye Adeyemi noted that shipbuilding remains a capital-intensive, cyclical and technically demanding sector that requires deliberate policy and financial interventions to achieve sustainable growth. Adeyemi, who was represented by the Director, Marine Environment Management, Dr. Oma Offodile, said the breakfast meeting was designed to provide a clear assessment of the structural challenges confronting the shipbuilding segment and to collectively agree on pragmatic funding models, incentives and policy options capable of driving competitive shipyard growth in Nigeria. He said: “Shipbuilding is a strategic pillar of Nigeria’s maritime and blue economy aspirations. It is capital-intensive, technically demanding and highly competitive, which is why deliberate funding models, targeted incentives and consistent policies are critical. “Through engagements like these, NIMASA is working with industry stakeholders to address structural constraints, build local capacity, curb capital flight and position Nigerian shipyards to compete sustainably, while supporting decarbonisation, job creation and our obligations at the International Maritime Organisation,” he said. Vanguard Business News	NIMASA commits to shipyard evelopment, capital flight cuts By Godwin Oritse The Nigerian Maritime Administration and Safety Agency, NIMASA, has reiterated its commitment to strengthening Nigeria’s shipbuilding and shipyard development as part of efforts to deepen the blue economy and curb capital flight. Speaking at a stakeholders’ breakfast meeting organised by the Agency themed: “Dissecting the Issues, Challenges, and Prospects in the Shipbuilding Segment […] NDIC strengthens agents to recover N1.5tr from failed bank debtors By Cynthia Alo The Nigeria Deposit Insurance Corporation (NDIC) has strengthened and repositioned its debt recovery agents in a renewed push to recover about N1.5 trillion owed to liquidated Deposit Money Banks (DMBs) and Microfinance Banks (MfBs). The move, the Corporation said, is aimed at accelerating reimbursement to depositors, many of whom are market women, small business […] NNPC’s revenue hits N60.5trn, profit up to N5.7trn Pays N14.7trn to govt By Obas Esiedesa The Nigerian National Petroleum Company Limited (NNPC), on Thursday, disclosed that it generated N60.5 trillion in revenue in 2025. In its monthly report published on its website, the company also announced a profit after tax of N5.76 trillion and remitted N14.706 trillion to statutory government agencies. The report stated that […] Banks to pay N10m fine for using unaccredited cheque printer By Elizabeth Adegbesan The Central Bank of Nigeria, CBN, has slammed a N10 million fine and withdrawal of cheques on commercial banks using unaccredited cheque printers/personaliser. The apex bank disclosed this in its revised sanctions regime on defaulters of the Nigeria Cheque Standard and Nigeria Cheque Printers’ Accreditation Scheme (NICPAS). Among other things, CBN said: […] Dangote signs $400m equipment deal to fast-track refinery expansion By Bashiru Ayuba Dangote Group has signed a $400 million construction equipment agreement with XCMG Construction Machinery Co., Ltd., one of China’s leading manufacturers of construction machinery, in a move set to accelerate the expansion of the Dangote Petroleum Refinery & Petrochemicals from 650,000 barrels per day to 1.4 million barrels per day, positioning it to […] 54% of Nigerian businesses still unregistered despite uptick —SURVEY By Yinka Kolawole A recent survey has revealed that 54 percent of businesses in Nigeria remained unregistered in 2025 indicating a modest rebound in business formalization after years of decline. The report on the 2025 State of Entrepreneurship Survey conducted by FATE Foundation shows that 46 per cent of Nigerian entrepreneurs operated formally registered businesses in 2025, […]