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Aviation

JET-A1, others may push flight above N100,000 – Domestic airlines

Domestic airlines under the aegis of the Airline Operators of Nigeria have said that rising operational costs occasioned by aviation fuel price hikes, and foreign exchange shortage, among others may push the base economy flight ticket to N100,000. The spokesperson for local airlines/Chairman, United Airlines, Professor Obiora Okonkwo, made the disclosure during an exclusive interview […]

Airport security makes five arrests daily - FAAN
Aviation

FAAN inaugurates App for airport taxi

Capt. Rabiu Yadudu, Managing Director, the Federal Airports Authority of Nigeria (FAAN)  has inaugurated a Taxi App loading booth at Nnamdi Azikiwe International Airport Abuja (NAIA). Yadudu, who was represented by the Group Capt. Usman Sadiq, Director of FAAN Security Service, said in his opening remarks on Thursday, that the move would definitely increase the […]

Jet A1 hike threatens airlines' existence - Ibom Air COO
Ports and Airports

Aviation fuel sells N612 per litre, airlines groan

There appears to be no end yet to the current crisis in the aviation sector as findings show that the agreement between airlines and oil marketers can no longer hold due to continuous price hikes of the Aviation Turbine Kerosene, also known as JET-A1 or aviation fuel. Last week, the Nigerian National Petroleum Corporation and […]

100% cashless economy possible in Nigeria - Emefiele
Policy and Regulations

CBN issues open banking guidelines to enhance competition

The Central Bank of Nigeria has issued the regulatory framework for Open Banking in Nigeria in its efforts to enhance competition and innovation in the banking system. It disclosed this in its ‘Operational guidelines for open banking in Nigeria’ released in May, 2022. The guidelines said, “The Central Bank of Nigeria, hereafter called the Bank, […]

International travellers to get higher compensation for deaths, flight delays - ICAO
Aviation

Exercise caution with hazardous weather, NCAA warns pilots

The Nigeria Civil Aviation Authority has advised pilots and airline operators to exercise caution with hazardous aviation weather in the rainy season. This circular came on the heels of the advent of the Seasonal Climate Prediction released for the year 2022 by the Nigerian Meteorological Agency. This caution was contained in an advisory circular with […]

Senate probes Niger Delta oil theft
Oil and Gas

EFCC partners marketers to curb oil theft in Niger Delta

The Independent Petroleum Marketers Association of Nigeria has sought the support and intervention of the Economic and Financial Crimes Commission in curbing oil theft and pipeline vandalism in the Niger Delta. This request was made on Monday, May 16, 2022 in Port Harcourt, Rivers State, by the Chairman of IPMAN, Hon. Bello Binna, who paid […]

Electricity

No increment in electricity tariffs – NERC

The Nigerian Electricity Regulatory Commission, NERC has clarified that reviews do not automatically translate into an increase in electricity tariffs. The electricity market regulator made this known in a statement titled ‘Notice of Compliance in Respect of the Biannual Review of the Revenue Requirements of Licenses’ published on Tuesday. According to the NERC, where the […]

Naira falls N777 against dollar after CBN announcement
News

Dollar rises to N600 at parallel market

The dollar exchanged at N600 on Monday at the parallel market, heightening fears of a further devaluation of the nation’s currency. The rate at the Importers and Exporters Window was, however, N415.75 on Monday, widening the exchange rate spread to N184.25. At Zone 4 in Abuja, which is the hub of the parallel market in […]

Why Nigeria must save oil revenues - IMF
Economy

Inflation hits 16.82%, surpasses IMF 2022 projection

The Consumer Price Index rose to 16.82 per cent in April from 15.92 per cent in March, latest figures from the National Bureau of Statistics have revealed. The NBS disclosed this in its ‘Consumer Price Index April 2022’ report on Monday. The report read in part, “In April 2022, the consumer price index, which measures […]

Aviation

Unions sound warning over plot to take over Arik, Aero

The National Union of Air Transport Employees and the Air Transport Services Senior Staff Association of Nigeria have raised the alarm over an alleged plot by some groups to take over Aero Contractors and Arik. The Asset Management Corporation of Nigeria, the nation’s bad debt manager created by the Federal Government, owns majority shares in […]

Policy and Regulations

FG extends money laundering law to casinos, others

The Federal Government has introduced stricter regulations in the operation of casinos in Nigeria, as part of its fresh move against money laundering. This is just as a new law recently passed by the National Assembly prohibits ownership and operation of shell accounts in the country. The President Major General Muhammadu Buhari (retd.), had on […]