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Why Nigerian insurance is one of the lowest globally - CPPE

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Why Nigerian insurance is one of the lowest globally - CPPE

High levies threaten survival of Nigerian airlines, says CPPE

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Lagos signs power purchase deals to boost supply by

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Hackers breach North Korean spy group’s computer

Italy okays extradition of Chinese hacker wanted by US

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Dangote urges govt, private sector partnership to eliminate malaria

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Oil and Gas

FG studying UK ruling over oil fraud – Minister

The Minister of Information and Culture, Lai Mohammed, said on Wednesday that the Federal Government lawyers are still studying the judgment of a United Kingdom Commercial Court that ruled out fraud in the Oil Processing Licence 245 transaction between Nigeria and JP Morgan Chase Bank. According to The PUNCH, he disclosed this while answering questions […]

Why Nigeria must save oil revenues - IMF
Economy

Nigeria’s worsening insecurity worries IMF

The International Monetary Fund has expressed concern over the heightened level of insecurity in Nigeria, adding that it is one the factors causing subdued Gross Domestic Product figures in the country. It also listed other downside risks in the near term including the elections, low vaccination against Covid-19 and higher global interest rates, according to […]

Aviation

Passengers panic as Overland aircraft’s engine catches fire midair

A four-member flight crew of Overland Airways made a successful landing of a distressed aircraft on the Runway 18R of the Murtala Muhammed International Airport, Lagos, on Wednesday evening, after the plane’s engine caught fire mid-air. The ATR 42 aircraft, which has 37 passengers on board, was en-route Ilorin-Lagos when the plane suddenly developed a […]

Crypto

Crypto, NFTs based on greater fool theory, says Bill Gates

Co-founder of Microsoft, Bill Gates said investing in cryptocurrencies like nonfungible tokens is based on the greater fool theory. Speaking at a TechCrunch talk on climate change Tuesday, the billionaire expressed doubt about the expensive digital images of monkeys, which are projected to improve the world. Meanwhile, Gates took a defensive position, backing digital banking by supporting […]

How more taxes'll reduce debt load - FG
Economy

Fuel subsidy affecting Nigeria’s debt serving – Minister

The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed had expressed worry over the continuous retention of the controversial fule subsidy regime by the federal government, adding that it is affecting Nigeria’s ability to service its debt. She made the remarks at the hybrid launch of the World Bank’s Nigeria Development Update titled: […]

Naira fall'll worsen Nigeria’s food, energy crisis — W’Bank
News

Fuel subsidy overtakes education, health budgets, World Bank warns

The World Bank says the cost of fuel subsidy in Nigeria has exceeded the government’s spending on health, education and social protection for Nigerians. It, therefore, said that removing fuel subsidy would help the government towards its poverty reduction scheme. The Washington-based lender said this in its latest Nigeria Development Update report, titled, ‘The Continuing […]

Aviation

Airbus Helicopters partners Nigerian company

Airbus Helicopters Company has signed a partnership deal with EAN Aviation Limited, making the Nigerian company a distributor for Airbus Helicopters in West Africa. According to a statement, the strategic partnership between the companies focuses on the West African civilian market, excluding the military. “In essence, civil customers in Nigeria can now contract directly with […]

Trapped funds: CBN to give foreign airlines $150m
News

Dollar shortage persists after party primaries

Dollar exchanged at N603 (average) at Lagos and Abuja parallel markets on Tuesday, indicating a worsening liquidity crisis in the foreign exchange market of Africa’s biggest oil producer. Between June 2021, and June 2022, dollar-to-naira exchange rate has risen from N500 to N603 at the parallel market, signifying the greenback appreciated by 21 per cent […]

Airports concession: FG moves to proposals request stage
Aviation

N1.04tn lost to overseas aircraft repairs in 2021 – FG

Nigeria lost $2.5bn (about N1.04tn at the official exchange rate of N415.63/$) to other countries in 2021 for the Maintenance, Repair and Overhaul services on Nigerian aircraft and other facilities, the Federal Government announced on Tuesday. It disclosed this through the Federal Airports Authority of Nigeria at the FAAN National Aviation Conference in Abuja, stressing […]

NUPENG threatens strike in Lagos over tanker drivers' safety
Oil and Gas

Diesel price to hit N1,500 in two weeks – Marketers

The pump price of diesel is projected to reach N1,500 from the current N800 within the next two weeks. The Natural Oil and Gas Suppliers Association made this known on June 14, 2022 during a media briefing in Abuja, Nairametric reports confirmed. According to them, the cost of diesel will hit the roof if nothing […]

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