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Air Peace flights cancelled amid NLC,TUC strike action

Air Peace Airline has announced that there would be flight disruptions to its operation nationwide following the industrial action embarked on by organised labour. This was disclosed in a statement by Air Peace via its official X handle on Monday. According to the statement, only regional and international flights have been confirmed to operate today. […]

News

Flights cancelled as NLC halts operations at Lagos, Abuja airports

The Organized labour has blocked all entry points to aviation agencies at Murtala Muhammed International Airport in Ikeja, Lagos, and Nnamdi Azikiwe International Airport in Abuja, demanding the implementation of a new national minimum wage. This action has disrupted flight operations at the country’s busiest airports, leaving passengers stranded, according to The PUNCH. The blockade […]

Power crisis worsens as National grid collapses again
News

Blackout as striking workers down national grid

The Transmission Company of Nigeria has announced that the Labour union has shut down the national grid, causing a blackout as a nationwide strike begins. This was disclosed in a statement signed by the General Manager of Public Affairs on Monday. In the statement, TCN said that the national grid shutdown occurred at about 2.19 […]

News

CBN revokes Heritage Bank’s license

The Central Bank of Nigeria has revoked the banking license of Heritage Bank. This comes following a report that officials from the Nigeria Deposit Insurance Corporation had visited the bank. “In accordance with its mandate to promote a sound financial system in Nigeria and in exercise of its powers under Section 12 of the Banks […]

News

NIPC grants tax holidays to 12 companies in Q1 2024

Alex Omenye The Nigerian Investment Promotion Commission has granted tax holidays to 12 companies in the first quarter of 2024 under the Federal Government’s Pioneer Status Incentive initiative. This information was disclosed in the NIPC’s Q1 2024 PSI report. These new approvals bring the total number of companies benefiting from the three-year tax holiday to […]

News

Nigeria fulfills IMF obligations with no overdue payments — Report

The International Monetary Fund, an international organisation that provides financial assistance to countries facing economic difficulties, has released Nigeria’s financial position report as of April 30, 2024. This is based on the most recent information on the Fund’s website on Monday, according to The Punch. According to the report, Nigeria has been fulfilling its financial […]

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CBN clears $831m foreign airlines’ trapped funds – IATA

The International Air Transport Association has confirmed that the Central Bank of Nigeria has cleared foreign airlines trapped funds worth $831m from June last year to date. This was disclosed by the Director-General of IATA, Willie Walsh, in a statement on Sunday, according to The Punch. International airlines now have over $1.8 billion in funds […]

Bus fares dropped in Nigerian cities, says NBS report
News

Bus fares dropped in Nigerian cities, says NBS report

The average fare paid by commuters for bus journeys within Nigerian cities declined slightly by 0.16%, from N969.32 in March 2024 to N967.76 in April 2024. This data comes from the National Bureau of Statistics (NBS) Transport Fare Watch for April 2024, recently published on the NBS website. Despite the monthly decline, the report also […]

News

Nigerian Breweries completes takeover of 80% stake in Distel

Nigerian Breweries Plc has announced the completion of the acquisition of an 80% controlling stake in Distel Wines and Spirit Nigeria Limited in an effort to increase the variety of products it offers beyond beer. This was disclosed in a notice filed by the Corporate Affairs Director of Nigerian Breweries, Sade Morgan with the NGX […]

Dangote speaks to Bloomberg on Arsenal, refinery, fuel subsidy
News

Beneficiaries of fuel importation hinder refinery construction – Dangote

Africa’s richest man and owner of the $20 billion Dangote Refinery, Aliko Dangote, has stated that those profiting from fuel importation are obstructing African governments from building refineries across the continent. Dangote made this assertion during an interview with CNN’s Eleni Giokos at his refinery in Lagos, Nigeria. He pointed out that no new refineries […]

Customs, FAAN ranked worst-performing agencies in May 2024
News

Customs, FAAN ranked worst-performing agencies in May 2024

Nigeria’s Official Public Service Complaint website, ReportGov.Ng, has identified the Nigeria Customs Service, the Nigeria Electricity Management Service Agency, and the Federal Airports Authority of Nigeria as the least effective government agencies in terms of resolving customer complaints for May 2024. This evaluation is part of a report that examines how government Ministries, Departments, and […]

Oil and Gas

ExxonMobil waits for NNPCL to lift ban on Seplat/MNPU

ExxonMobil has said that it is awaiting the Nigerian National Petroleum Company Limited to lift the ban preventing the sale of its assets to Seplat Energy. This was disclosed by the company’s Regional Communications Manager – Africa, Oge Udeagha, according to The Punch. The NNPCL announced on Thursday that it has inked a settlement agreement […]

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