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Ghana to evacuate 1,000 more workers from South Africa

Transportation

Nigerians may face rice, tomato scarcity within three months

Food

Pharmaceutical firms’ finance costs jump 46.5% amid high interest

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FAAN launches probe into viral Delta airport security altercation

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

Inflation, others threaten Buhari’s poverty reduction scheme –World Bank economists

World Bank economists, Jonathan Lain and Jakob Engel, have said that rising inflation, persistent population growth, the COVID-19 pandemic, and the war in Ukraine are threatening Nigeria’s poverty reduction aspiration. These economists said this in a post published on the bank’s blog on Tuesday. The post read in part, “Nigeria’s aspiration to lift all of […]

Airport security makes five arrests daily - FAAN
Aviation

FAAN commences replacement of old equipment at airports

The Federal Airports Authority of Nigeria said it has begun the replacement and repair of old equipment used to carry out its daily operations at airports across the country. The Managing Director, FAAN, Capt. Rabiu Yadudu, made this known at an interactive session with the League and Airports Aviation Correspondents in Lagos on Wednesday. Yadudu […]

Electricity

FG trains Egyptian, Ghanaian electricity workers

The National Power Training Institute of Nigeria, an agency of the Federal Government, has been contracted to train employees of the Egyptian Electricity Corporation as the organisation expands its activities in Africa. NAPTIN also stated that it had trained power sector officials of Ghana and Liberia in a bid to boost the delivery of electricity […]

Telecommunications

Tinubu didn’t bring Econet to Nigeria -Tech investor

Nigerian tech investor, Victor Asemota, has said that presidential aspirant, Bola Tinubu, did not bring Econet Wireless (now Airtel) to Nigeria. The techpreneur’s comments came after the All Progressives Congress’ national leader, claimed that he played a significant role in the Nigeria telecom service by bringing Econet to the country during the presidential screening of […]

Debt
Economy

Debt servicing draws Nigeria closer to Lebanon crisis

Nigeria is edging closer to a Lebanon financial crisis that has caused the country to see a high rate of poverty, inflation, and emigration. BusinessDay, citing new projections by the International Monetary Fund, reported that Nigeria could be spending 100 per cent of its revenues servicing debt by 2026. Nigeria’s debt servicing cost as a […]

Economy

Power gulps 40% of our production costs – Manufacturers

The Chairman, Board of Directors, Manufacturers Power Development Company, Ibrahim Usman, speaks on how unstable power supply is adversely affecting the manufacturing sector in this interview Six years ago, the Manufacturers Association of Nigeria started MAN Power Development Company. How successful has this initiative been? What have been the challenges? Well, I can say that […]

Transportation

Truckers read the riot act to curtail road crashes

The Association of Maritime Truck Owners has vowed to proffer solutions to factors responsible for constant accidents of articulated trucks on the roads. A letter by the National President of AMARTO, Remy Ogungbemi, titled, ‘A wake-up-call to all drivers on self examination’, said that the association was calling on every trucker to immediately embark on […]

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 […]

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