The Nigerian Shippers’Council (NSC) on Monday urged African countries in West, Central Africa sub-region to fast-track the dismantling of various tariff and non-tariff barriers hindering intra-Africa trade. The Executive Secretary, NSC, Mr Emmanuel Jime, made the call at the 9th African Shippers’ Day in Lagos. The day has the...
BUSINESS
The National Bureau of Statistics (NBS), says Nigeria’s headline inflation rate declined to 21.34 per cent on a year-on-year basis in December 2022. This is according to the NBS Consumer Price Index (CPI) and Inflation report for December 2022 released in Abuja on Monday. The report said that the...
The National Bureau of Statistics (NBS) in its latest inflation report showed a decline of 0.13% between November and December. “In December 2022, the headline inflation rate eased to 21.34% compared to November 2022 headline inflation rate which was 21.47%,” the NBS report partly read. “Looking at the trend,...
The Management of Max Air Limited has approved the appointment of Alhaji Abubakar Dahiru Mangal as the new Chief Executive Officer (CEO) of the Company. Alhaji Abubakar’s appointment was confirmed over the weekend by the company. He replaced his Uncle Alhaji Bashir Barau Mangal the Vice Chairman CEO of...
The Nigerian National Petroleum Company Limited (NNPC Ltd), is set to spud the first Oil Well in Nasarawa State in March 2023, in continuation of its oil exploration activities in the Country’s inland basins. The Group Chief Executive Officer of the Company, Malam Mele Kyari, disclosed this when the...
Nigeria and Spain have expressed commitment to deepen bilateral relationship and partnership in investments and development of Nigerian gas resources for global energy market. Chief Timipre Sylva, Minister of State for Petroleum Resources made this known on Thursday in Abuja when he received Spanish Foreign Minister, Jose Albarese, in...
Point of Sale operators (PoS) and traders in Lagos have appealed to the Central Bank of Nigeria (CBN) and telecoms companies to ensure interrupted service. The stakeholders made the observation in separate interviews with the News Agency of Nigeria (NAN) on Thursday in Lagos. According to them, it is...
By GRACE AUDU, Abuja – Even in the face of Russian attack, the Government of Ukraine has announced a donation of about 25,000 tonnes of grains to Nigeria as part of efforts aimed at boosting bilateral ties between the two countries. In addition, the Ukrainian government has pledged its...
The Nigeria Customs Service (NCS), Apapa Command, on Thursday said it generated N1.02 trillion in 2022. The customs area controller, Comptroller Malanta Yusuf, said this at a media conference in Lagos. Yusuf said the amount was unprecedented in the history of revenue generation by the command, and that the...
By TENEBE ANTHONIA, Lagos – Nigerian Exchange Limited (NGX) has announced that it will host the 2022 Market Recap and 2023 Outlook event on Wednesday, 25 January 2023. NGX Market Recap and Outlook is an annual event designed to review market performance in the preceding year and present expert...
Managing Director/Chief Executive Officer of FirstBank, Dr. Adesola Adeduntan, has advised financial institutions in the country to be vigilant and improve the monitoring of their customers’ loans in order to prevent the build-up of non-performing loans (NPLs) in the industry as a result of the macroeconomic challenges. Speaking in...
Air traffic in the U.S. has been severely affected, with hundreds of flights delayed and many cancelled after a major technical malfunction. Information from the U.S. Federal Aviation Administration (FAA) and a flight tracking system was reported on Wednesday. The system that provided pilots and ground staff with information...
Global economic growth was projected to slow to 1.7 per cent in 2023, 1.3 percentage points below the forecast made in June last year. Marking its third-weakest pace in nearly three decades, the World Bank Group said in its latest Global Economic Prospects release. Given such adverse shocks as...
A man has injured six people with a knife attack at the Gare du Nord train station in Paris on Wednesday morning, local authorities said. The attacker was taken out of action by security forces, the broadcaster BFMTV reported, citing police sources. French Interior Minister, Gérald Darmanin thanked security...
By JOY ADARA, Abuja – The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has commenced the 2022 mini-bid round process in accordance with the Petroleum Industry Act (PIA), 2021. The mini-bid round is an opportunity to spur new oil exploration and drilling activities in the prospective deep waters offshore Nigeria....
Growth in emerging markets and developing economies will be hit hard over the next two years, according to the World Bank’s latest Global Economic Prospects report. Globally, growth continues to slow sharply due to rising inflation and interest rates, reduced investment, and supply disruptions caused by Russia’s full-scale invasion...
By CALLISTUS OFFOR, Abuja – The Nigerian Communications Commission (NCC) is set for a return to the tube with a newly packaged 30 – Minute weekly television programme that will regularly x-ray the Nigerian telecommunications and information communications technology (ICT) industry and provide awareness for telecommunication consumers across the...
The 78 per cent revenue projection from the non-oil sector in the 2023 budget is s a milestone in the nation’s fiscal history. Making this assertion in a statement in Abuja, the Buhari Media Organisation (BMO) said that this is the first time in more than 30 years that...
The Managing Director/Chief Executive Officer of First Bank Nigeria Limited, Dr. Adesola Adeduntan, in this interview with THISDAY reviewed the performance of the global economy in 2022 and advised businesses and their bankers to approach 2023 with a partnership mindset to ensure that a win-win outcome is achieved despite...