Offices of various aviation agencies in Lagos were shut on Tuesday as aviation sector workers embark on a warning strike, The News Agency of Nigeria (NAN) reports that offices shut were those of the Ministry of Aviation, the Nigeria Airspace Management Agency, the Federal Airports Authority of Nigeria and...
BUSINESS
▪ Restored to office▪ Awarded N5b in damages▪ Judgment voids all decisions by board since removal In a historic decision against a sitting President, Justice Inyang Ekwo of the Federal High Court on Tuesday voided the removal of Senator Ifeanyi Godwin Araraume as non-executive chairman of the Board of...
By JOY ADARA, Abuja – The National Bureau of Statistics (NBS), says Nigeria’s headline inflation rate increased to 22.04 per cent on a year-on-year basis in March 2023. This is according to the NBS Consumer Price Index (CPI) and Inflation Report for March 2023 released in Abuja on Monday....
The Organisation of Petroleum Exporting Countries (OPEC) says global primary energy demand is forecast to increase by 23 per cent in the period to 2045, which necessitates utilising all forms of energy. The OPEC said based on its World Oil Outlook (WOO) forecast, resultantly, many of its Member Countries...
The equities market on Monday opened the week on negative note, sheding N418 billion due to losses in largely capitalised stocks. The All-Share Index decreased by 766.56 per cent, representing a decline of 1.48 per cent, to close at 51,127.38 points from 51,893.94. Similarly, the overall market capitalisation value...
The Nigeria National Petroleum Company Ltd. (NNPC Ltd) is deepening investments in the Ajaokuta-Abuja-Kano (AKK) gas pipeline and OB3 gas interconnector to support five billion standard cubic feet per day domestic gas utilisation. Malam Mele Kyari, the Group Chief Executive, NNPC Ltd., made this known in Abuja on Monday...
Passengers were on Monday stranded in the Murtala Muhammad Airport (MMA) terminal as Aviation Unions began their two-day warning strike. The News Agency of Nigeria (NAN) reports that members of the union blocked the entrance of the MMA, leaving passengers stranded. Officials of various aviation agencies including owners of...
By OLA MUDOPE, Lagos – The Central Bank of Nigeria (CBN) has approved the appointment of Mr Akinola George-Taylor as the substantive Managing Director/Chief Executive Officer of Heritage Bank. Mr Ozena Utulu, Group Head, Corporate Communications of the bank, disclosed this in a statement on Sunday. The statement said...
Direct flights between Israel and Nigeria begins on April 20, Ambassador of Israel to Nigeria, Mr Michael Freeman, said in Abuja on Saturday. “On April 20, we will be starting direct air links between Israel and Nigeria; there will be twice weekly flights from Lagos, Abuja and Tel Aviv...
The Niger Delta Development Commission Public-Private Partnership Committee Chairman, Engr. Emmanuel Audu-Ohwavborua, has urged all stakeholders to hurry up and register for the NDDC PPP Summit 2023, as time is running out. Making this disclosure amidst the countdown to Audu-Ohwavborua advised those interested in participating to register for the...
African Development Bank (AfDB) says the African continent faces an annual GDP shortfall that could exceed 127.2 billion dollars by 2030. It stated on Friday that the shortfall would occur if current trends in climate finance flow into Africa continued. “Africa may lose as much as 12 per cent...
By OLA MUDOPE, Lagos – MTN Nigeria has partnered with US-based digital music platform, Apple Music, to offer free access to a premium selection of songsas part of efforts to ensure customers can enjoy quality entertainment on the go. MTN customers, who subscribe to the service will have access...
By OLA MUDOPE, Lagos – Aviation workers’ unions will embark on two-day strike from Monday over alleged failure to implement the conditions of service agreement between the union and some aviation agencies. This is according to a joint statement issued and signed by officials of the National Union of Air Transport...
Ny OLA MUDOPE, Lagos – Nigerian Carrier, Green Africa Airways, says it is expanding its networks across the country to ease the travel burdens among Nigerians. The Chief Executive Officer of Green Africa Airways, Mr Babatunde Afolabi, stated this in a statement issued on Friday in Lagos. Afolabi, who...
BY JOY ADARA, Abuja – A delegation from the Organisation for Economic Co-operation and Development (OECD) met with Nigerian representatives on 4th and 5th April 2023, at a workshop it jointly organised with the Federal Inland Revenue Service (FIRS), to discuss the maximisation of the benefits of the Two-Pillar...
By JOY ADARA, Abuja – The Central Bank of Nigeria (CBN) has disowned a fake recruitment portal, created in its name and inviting eligible Nigerians to submit job applications. Its Acting Director, Corporate Communications Department, Dr Isa AbdulMumin, made this known in a statement on Thursday in Abuja. Dr....
The Managing Director, Nigerian National petroleum Commission Retail Ltd., (NRL), Mr Huub Stokman, has restated the company’s commitment to the Oil Trading and Logistics (OTL) Conference, 2023. Stockman said this when the OTL Advisory Board paid him a courtesy visit on Thursday in Lagos. Stockman noted that the commitment...
The oil market is heading for a significant shortfall of around two million barrels per day at the end of the year as a result of a production cut by major producers. The Organisation of the Petroleum Exporting Countries (OPEC) disclosed this on Thursday. In its monthly report for...
The Nigerian Export Promotion Council (NEPC) on Thursday in Abuja, reiterated the Federal Government’s commitment to increase cashew export earnings from 252 million dollars to 500 million dollars in 2023. The Executive Director/CEO of NEPC, Dr Ezra Yakusak said this at the inauguration of the organic cashew certification programme...
By OLA MUDOPE, Lagos – First Bank of Nigeria Ltd., has announced a phased corporate name change of its subsidiaries in the United Kingdom and Sub-Saharan Africa. Mrs Folake Ani-Mumuney, Group Head, Marketing and Corporate Communications, FirstBank, said this in a statement in Lagos. The statement said that the...