The National Bureau of Statistics (NBS), says Nigeria’s Gross Domestic Product (GDP) increased by 4.03 per cent in the third quarter of 2021. This is according to a report released by the NBS on Nigerian Gross Domestic Product Report (Expenditure and Income Approach) for Q3, Q4 2021 in Abuja...
BUSINESS
Ethio Telecom, the state-owned telecom service provider in Ethiopia, on Monday launched 5G mobile phone service making Ethiopia among the leading few African countries, including Kenya in eastern Africa, to roll out the technology. According to Ethio Telecom, the network will be available on hotspot areas in the capital...
By OLA MUDOPE, Lagos – The Managing Director, Nigeria Export Processing Zones Authority (NEPZA), Prof. Adesoji Adesugba, has said the planned concession of the country’s two public free trade zones remains government’s best economic approach to accelerate Nigeria’s industrialisation agenda. A statement by Mr Martins Odey, Head, Corporate Communications,...
By JOY ADARA, Abuja – The Federal Inland Revenue Service (FIRS) has stated that there is need for improved collaboration among countries and international stakeholders with the aim of exploring alternative rules that will enable market jurisdictions, particularly African countries, to effectively subject digital businesses to tax. This was...
The Nigerian National Petroleum Company Limited (NNPC Ltd.) started its week with high optimism that its plan for gas development would turn around the fortune of the country economically. The Minister of State for Petroleum Resources, Chief Timipre Sylva, shared this view at the 2022 Annual Public Lecture of...
By OLA MUDOPE, Lagos – Airline Operators of Nigeria (AON) has called off its planned withdrawal of services over the hike of aviation fuel in the country. The airlines operators in a joint statement issued on Sunday in Lagos, said they would start fresh round of dialogue with government...
The Airline Operators of Nigeria (AON) on Sunday insisted that they would go ahead with withdrawal of flights services on Monday over astronomical rise in aviation fuel. Dr Yunusa Abdulmunaf, President of the association, made this known in a statement on Sunday in Lagos. Abdulmunaf said that the association...
The Cinema Exhibitors Association of Nigeria (CEAN) on Sunday said that it generated N582 million from tickets sold across the country in April. Its National President, Mr Patrick Lee, disclosed this in an interview with the News Agency of Nigeria (NAN) in Lagos. “The total ticket sales for the...
By OLA MUDOPE, Lagos – Ibom Airlines Ltd., (Ibom Air) says it is not taking part in the withdrawal of flight services as announced by Airline Operators of Nigeria (AON). AON had hinged its resolve to shut down domestic flights over the increase in the price of aviation fuel....
By EZEKIEL OBI, Abuja – The Federal Government has appealed Nigerian airlines to suspend the planned shutdown of operations from Monday over the high cost of aviation fuel from N190 to N700 per litre. The Minister of Aviation, Sen. Hadi Sirika, made the appeal in a statement issued by...
By JOY ADARA, Abuja – The Nigerian Communiations Commission (NCC) has monitored with keen interest the deluge of reports in the media on the demand by Mobile Network Operators (MNOs) ostensibly to increase tariffs of telecom services and has taken notes of the fears being expressed by telecom subscribers...
By OLA MUDOPE, Lagos – The Airline Operators of Nigeria (AON) have announced that it would discontinue operations nationwide with effect from Monday May 9, 2022 until further notice, following a rise in cost of jet A1 and other costs. The airlines – Azman Air, Max Air, United Nigeria...
The Nigerian Upstream Petroleum Regulations Commission (NUPRC) says its harmonised regulations will be operational by June 2022. It said it would enable the Petroleum Prospecting Licenses (PPL) to be issued to 2020 marginal field awardees. The NUPRC said the harmonised regulations would soon be forwarded to the Federal Ministry...
Dr Akinwumi Adesina, the president, African Development Bank (AfDB), says the bank has secured 15.6 billion dollars investment for the construction of the Lagos-Abidjan highway. Adesina tweeted this on his twitter handle @akin_adesina obtained by the News Agency of Nigeria (NAN) on Friday in Abuja. He said that the...
By JOY ADARA, Abuja – The trove of garlands for the Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta, swelled again as he received “Leadership Excellence and Economic Impact Award”. This award was issued by the African Leadership Organisation (ALO), publishers of The African...
By OLA MUDOPE, Lagos – Access Bank Plc has partnered the Ministry of Humanitarian Affairs, Disaster Management and Social Development to roll out a loan scheme for poor farmers aged 18 years to 55 years and other vulnerable groups. The bank’s Group Head, Emerging Businesses, Mr Ayodele Olojede, said...
By MBAFAN ADE, Abuja – The Nigerian Communications Commission (NCC) has confirmed issuance of the final letters of award of the Fifth Generation (5G) Spectrum Licences to MTN and Mafab Communications, winners of the 3.5GHz spectrum auction conducted by the Commission on Monday, December 13, 2021. Management of the...
The Nigerian Communications Commission (NCC), has issued final letters of award of the Fifth Generation (5G) Spectrum Licences to MTN and Mafab Communications. This is contained in a statement by Dr Ikechukwu Adinde, Director, Public Affairs of NCC, on Wednesday in Abuja. Adinde said the management of the commission...
Dangote Cement Company says it has completed its N116 billion Series 2 bond issuance which is the largest corporate bond issuance in the Nigerian capital market. The company disclosed this in a statement made available on the Nigerian Exchange Ltd. (NGX) Website on Wednesday in Lagos. According to the...
The Institute of Chartered Accountants of Nigeria (ICAN) has lauded African technology giant, SystemSpecs, for its role in facilitating collaborations between accounting and financial technology in the country. This is as SystemSpecs, a renowned provider of financial and human capital management technology solutions, celebrates 30 years since inception, marking...