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Why Nigerian insurance is one of the lowest globally - CPPE

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Lagos signs power purchase deals to boost supply

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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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MTN launches 5G network
Appointments

MTN appoints Mroue as non-executive director

The board of MTN has approved the appointment of Mazen Mroue as a non-executive director of the company effective June 1, 2022. This is according to a disclosure filed on the website of the Nigerian Exchange Group and signed by the company’s Secretary, Uto Ukpanah. The board at its meeting held on Thursday, May 26, […]

New naira'll make ransom payment difficult - CBN
Banking Uncategorized

CBN retains 5% interest rate for power sector, others

Sequel to its development finance initiative, the Central Bank of Nigeria has agreed to leave interest rates at five per cent per annum for critical sectors and manufacturing industries until March 2023. The decision followed the resolution of the Monetary Policy Committee to increase benchmark interest rate to 13 per cent from 11.5 per cent. […]

Economy

Nigeria, others face severe food crisis amid Ukraine war – Report

Nigeria and 44 other countries around the world are severely exposed to the Ukraine war-induced food crisis, a study by Boston Consulting Group, a global management consulting firm, has shown. BCG, in a report titled, ‘The war in Ukraine and the rush to feed the world’, said it explored in detail, the multiple direct and […]

Flights to South-South most expensive - NBS
News

Pilots warn FAAN as Lagos int’l airport runway lights collapse

The approach lights on the runway of the Murtala Muhammed International Airport, Lagos, have gone off, forcing pilots to depend solely on equipment onboard their aircraft to land, findings by The PUNCH have revealed. An approach lighting system is a lighting system installed on the approach end of an airport runway and consisting of a […]

Telecommunications

Telcos blame govs as ICT’s GDP contribution falls

The contribution of the Information and Communication sector to Gross Domestic Product fell by nine per cent from N3.1tn in the fourth quarter of 2021 to N2.81tn in the first quarter of 2022. According to GDP figures released by the National Bureau of Statistics, the ICT sector contributed 15.21 per cent and 16.20 per cent […]

Economy

Cost of 12.5kg cooking gas rises to N9,400

The cost of cooking gas has become the latest inflation news to hit the spotlight, after the rise of the Consumer Price Index to 16.82 per cent in April from 15.92 per cent in March. AMBuisness gathered that a 12.5kg cylinder of household cooking gas in the country which went for N7,000 in September 2021, […]

Interview

2023: Candidates must show tax compliance proof, says CITN

In this interview with, the President and Chairman in Council, Chartered Institute of Taxation of Nigeria, Mr Adesina Adedayo, speaks on tax issues in the country Tax compliance is still low in the country. What is responsible for this? The issue of tax compliance and enforcement, as I keep saying over the years, has to […]

Energy

Manufacturers spend N425bn on alternative power

Manufacturers spent N425 billion on alternative energy sources such as gas, low-pour fuel oil, diesel, and petrol between 2017 and 2021, according to The PUNCH’s computation of energy expenditure of members of the Manufacturers Association of Nigeria, MAN, within the period. This does not include manufacturers’ expenditure on power coming from electricity distribution companies, popularly […]

Power generation dropped 43mw after worker's strike - FG
Energy

Gencos, Discos, others’ revenue shortfall hits N1.6tn

Total shortfall in the Nigerian power sector has reached N1.6trn in eight years, findings have shown. The Executive Director, Research and Advocacy, Association of Nigerian Electricity Distributors, Sunday Oduntan, revealed this during a chat on Monday. According to him, the shortfall was recorded in the fourth quarter of last year. “As at the last quarter […]

Customs seize 80,000-litre tankers with adulterated diesel
News

Customs, firm seal $3.2bn digitisation deal

The Nigeria Customs Service and a consortium, Trade Modernisation Project Limited, on Monday, signed a concession agreement worth $3.2bn to digitalise operations of the border security and revenue collection outfit. This is just as the Federal Government expects to generate over $176bn from the deal. At the agreement signing ceremony held at the Abuja national […]

Trapped forex: Expert pushes for ticket purchase in dollars
Aviation

Airfares rise by 52% over forex, jet-A1 crisis

The average airfare paid by passengers on specified routes for a single journey has increased by 52 per cent in the past 12 months, the National Bureau of Statistics data have shown. In a new report titled, ‘Transport Fare Watch (April 2022),’ the NBS said airfares recorded a 19 per cent increase when gauged on […]

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

Commodity price surge to become global problem – World Bank

The World Bank on Monday said that recent commodity price shocks, particularly in food and energy, are likely to be felt by people around the world. This was disclosed in the international financial institution’s Commodity Markets Outlook cited by AMBusiness. According to World Bank’s Senior Economist, Peter Nagle, Ukraine and Russia are both large exporters […]

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