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NUPENG threatens strike in Lagos over tanker drivers' safety
Energy

NNPC links fuel queues to Sallah celebrations

The Nigerian National Petroleum Corporation has ascribed the re-appearance of fuel queues in parts of Abuja to low loadouts and increased purchases that characterise post-holiday and post-Eid periods Most filling stations in Abuja and neighbouring states of Nasarawa and Niger that dispensed Premium Motor Spirit, popularly called petrol, on Sunday were greeted with long queues. […]

News

ASUU extends strike by 12 weeks

The Academic Staff Union of Universities has extended its ongoing strike for another 12 weeks. A statement signed by ASUU president, Prof. Emmanuel Osodeke, said this was to give the government enough time to satisfactorily resolve all the outstanding issues. It also stated that the roll-over strike was effective from 12.01 am, May 8, 2021. […]

Naira falls N777 against dollar after CBN announcement
News

Naira slumps to N595/dollar amid forex shortage

THE naira slumped further and exchanged to the dollar at 595 on Friday at the parallel market. Some Bureau de Change operators who spoke with our correspondent said the dollar was bought and sold at 585 and 595 on Friday. On Monday, the naira was exchanged at N590 to a dollar. At the Investor & […]

Trapped forex: Expert pushes for ticket purchase in dollars
Aviation

JETA1: Airlines suspend flights shutdown

The Airline Operators of Nigeria, the umbrella body for domestic airlines, on Sunday cancelled its decision to halt flight services across the country beginning today (Monday). But before the AON announced the cancellation of its earlier decision, five of its members had already declared that they would not join in the plan to suspend flights […]

Crypto

How FG’s ban on crypto, Twitter crippled Nigeria’s FDI – Report

A new report has stated that restrictions on cryptocurrency transactions and the ban of Twitter in Nigeria crippled foreign direct investment in the fin‑tech industry and adversely impacted millions of young Nigerians earning a living from the sector. The report was titled ‘Africa’s Urbanisation Dynamics 2022: The Economic Power of Africa’s Cities’. The work was […]

Transportation

Imported car prices set to soar as Customs, agents war over 15% levy

For some weeks now, Nigeria’s maritime industry has been riddled with controversy following the introduction of the 15 per cent National Automotive Council levy by the Nigeria Customs Service. This piece examines the implications of this policy in the automobile industry When the management of the Nigeria Customs Service, in April 2022, came up with […]

Nigerians bought petrol N191.65 per litre September- NBS
News

How petrol pump price rose by 91 per cent in six years – Report

The cost of fuel pump increased from N87 per litre as of December 2015 to N165.77 by December 2021, showing an increase of 90.54 per cent. This is according to the Fuel Pump Price Per Litre – Average (PMS) data from the Central Bank of Nigeria. The Nigerian National Petroleum Corporation became the sole importer […]

News

Abuja hotel room rates rise ahead of APC, PDP primaries

Many major hotels in the Abuja metropolis are fully booked while others had hiked their prices ahead of the presidential primaries of the All Progressives Congress and the Peoples Democratic Party. While the PDP is expected to hold its presidential primary on May 28 and May 29, the APC will hold its own on May […]

Buhari
Transportation

Avert airlines’ operations shutdown, Reps caucus tells Buhari

The Minority Caucus in the House of Representatives has called on the President, Major General Muhammadu Buhari (retd.), to take immediate steps to avert an imminent shutdown of flight operations in Nigeria, warning that it will have grave consequences on the country’s national life. The caucus was reacting to the strike notice issued to the […]

NCC, Telecom operators urge states to review policies for broadband expansion
Telecommunications

Call, SMS cost hike not possible now —NCC

The Nigerian Communications Commission has said there would be no tariff increase for calls and short messaging services by the telecommunication companies without cost-based and empirical studies and regulatory approval. The NCC, in a statement on Friday by its Director of Public Affairs, Ikechukwu Adinde, said it received a letter from mobile network operators to […]

Flights to South-South most expensive - NBS
Ports and Airports

Airlines to suspend operations Monday, aviation fuel hits N700 per litre

Airline operators in the country, on Friday, declared that they would halt operations from Monday following the jump in the price of aviation fuel, popularly called JetA1, from N190/litre to N700/litre. In a letter to the Minister of Aviation, Hadi Sirika, which was copied to the Director-General, Nigerian Civil Aviation Authority, Musa Nuhu, the airlines […]

Oil production: Angola, Libya overtake Nigeria, says OPEC
Oil and Gas

Nigeria may lose out as China, India eye Russian oil

Nigeria may lose its largest crude oil buyers, China and India, as both countries plan to negotiate Russian oil at discount prices. India is said to be asking Russia for below $70 per barrel discount price. The duo’s move comes as Europe considers banning Russian oil due to the country’s invasion of Ukraine. OPEC’s Secretary-General, […]

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