The Airline Operators of Nigeria (AON) have decried the alleged ‘criminalisation’ of all domestic airlines over the outstanding N19 billion debt it was alleged to owe some Federal Government’s aviation agencies. The Vice-President (V-P) of AON, Mr Allen Onyema, said this in a statement issued in Lagos on Wednesday....
BUSINESS
Mr Tony Elumelu, Chairman, Heirs Holdings, and other Information and Communication Technology (ICT) stakeholders on Wednesday called for the scaling up of Nigeria’s digital infrastructure. Elumelu, represented by Mr Peter Ashade, Group Chief Executive Officer, United Capital Plc, gave the advice at the Lagos Chamber of Commerce and Industry...
Some agencies of the Federal Ministry of Aviation have called on local airlines to pay their outstanding debts for the services rendered to them. The agencies made the call on Tuesday in Abuja at a meeting of the ministry and aviation agencies with Scheduled Airline Operators and Ground Handlers....
The Federal Government on Tuesday inaugurated the Governing Council of the Midstream and Downstream Gas Infrastructure Fund (MDGIF). Chief Timipre Sylva, Minister of State, Petroleum Resources, inaugurated the nine-member council, in Abuja, to fix the critical missing link in government’s effort to develop the gas sector He charged members...
The price of the Organisation of the Petroleum Exporting Countries (OPEC) basket of 13 crude oil samples stood at 104.85 U.S dollars per barrel as at Monday, Aug. 29. This is compared with 103.89 U.S. dollars per barrel of the previous Friday, according to OPEC Secretariat calculations obtained by...
The Nigerian National Petroleum Company (NNPC Ltd.), said that the importation of petroleum products into the country will be stopped by mid-2023. Mele Kyari, Group Chief Executive Officer of NNPC Ltd. disclosed this at the State House Ministerial Briefing organised by the Presidential Communications Team, on Tuesday in Abuja....
Fidelity Bank on Tuesday agreed to take over the United Kingdom unit of Nigeria’s second oldest lender, Union Bank. It is the latest phase in the train of divestments by the latter which, beginning late last year, saw Union Bank offload 90 per cent of its shareholding to a...
TAJBank Limited, Nigeria’s foremost non-interest lender, says it has concluded plans to begin the issuance of its N100 billion Sukuk bond. This is according to a statement by TAJBank’s Managing Director, Mr Hamid Joda. According to Joda, the commencement followed the signing of all parties for issuance of the...
A Digital solutions company, Globacom on Monday, said it has been carrying out aggressive roll-out of network equipment and upgrade of its sites to 4G-LTE across the country. Deputy Chief Operating Officer of Globacom, Mr Bisi Koleosho said in a statement that it was in order to continue to...
By KADIRI ABDULRAHMAN – As most Nigerians continue to decry the increasing public debt stock of Federal Government, others look at the lucrative investment opportunities in some of the debt instruments. These debt instruments refer to the various Federal Government of Nigeria (FGN) Securities, which make up the local...
Chief Timipre Sylva, Minister of State for Petroleum Resources, says a stable oil market will benefit all consumers, producers and investors. Sylva said this in a statement obtained by the News Agency of Nigeria (NAN) on Sunday in Lagos. He said Nigeria supports the call by Prince Abdulaziz Bin...
By CALLISTUS OFFOR, Abuja – Minister of Communications and Digital Economy, Professor Isa Ali Ibrahim (Pantami) is excited over the remarkable contribution of the Information and Communications Technology (ICT) sector to Nigeria’s Gross Domestic Product (GDP) in the second quarter of 2022 (Q2 2022). The National Bureau of Statistics...
The National Bureau of Statistics (NBS) said Information and Communication Technology (ICT) sector had contributed 18.44 per cent to the ‘Nigeria’s Gross Domestic Product Report’ for Q2 2022. Dr Femi Adeluyi, Technical Assistant Research and Development to the Minister of Communications and Digital Economy, made this known in a...
The Director of Trade and Exchange Department, Central Bank of Nigeria (CBN), Dr Ozoemena Nnaji, says there is urgent need to diversify the Nigerian economy to spur growth. Nnaji made the call on Saturday, at the 33rd Seminar for Finance Correspondents and Business Editors in Abuja. She said that...
The African Development Bank (AfDB), said private sector investment in Africa’s infrastructure in 2020 was 19 billion dollars, the highest since 2016. Mr Solomon Quaynor, AfDB Vice President for the Private Sector, Infrastructure and Industrialisation said this at a webinar organised by the bank and the Japan International Cooperation...
The Central Bank of Nigeria (CBN) says it is leading the drive towards diversifying the nation’s economy away from oil through its numerous interventions. Mr Godwin Emefiele, Governor of CBN, said this at the 33rd Seminar organised by CBN for the Finance Correspondents and Business Editors on Saturday in...
The Naira on Friday appreciated against the dollar at the Investors and Exporters window, exchanging at N430.33. The figure represented an increase of 0.08 per cent, compared with N430.67 it exchanged for the dollar on Thursday. The open indicative rate closed at N429.50 to the dollar on Friday. An...
Some stakeholders have commended the Central Bank of Nigeria (CBN) for injecting $265million into the nation’s aviation sector. This action, the stakeholders said would bailout some of the foreign airlines out of the shortage of dollars . The News Agency of Nigeria(NAN) reports that the apex bank, on Friday,...
In a move to check a brewing crisis in the country’s aviation sector, the Central Bank of Nigeria (CBN), released today the sum of $265 million to airlines operating in the country, to settle outstanding ticket sales. A breakdown of the figure indicates that the sum of $230 million...
The NNPC Limited started its activities last week on a cheering note as it bagged the Information Systems Audit and Control Association (ISACA) Outstanding Partnership Award. The award was for its robust adoption of technology in its business operations while the Group Chief Executive Officer (GCEO), Malam Mele Kyari...