Scarcity hits local airlines as marketers divert aviation fuel to foreign carriers
Oil marketers have said the bulk of the aviation fuel in their stock is on reserve for foreign airlines, saying there is a need to abide by the contractual supply…
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,…
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…
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…
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…
FG directs Abuja-Kaduna train services resumption
The Federal Government has directed the resumption of the Abuja-Kaduna Train services by Monday, May 23, 2022, amid failed negotiations over the abducted passengers. The directive was disclosed in a…
Emefiele must resign to preserve CBN’s credibility – Experts
Economic experts at a local think-tank, the Centre for the Promotion of Private Enterprise, have urged the Governor of the Central Bank of Nigeria to resign in order to preserve…
Containers clearing cost jumps by 67%, vehicle parts’ prices soar
Freight charges in the nation’s seaports have jumped by 67 per cent, resulting in increases in prices of vehicle spare parts, AM Business has learnt. In separate interviews with our…
Avert disruption in wheat value chain, analysts task FG
Local industry analysts have called on the Federal Government to take a swift and deliberate action to cushion the effects of the disruptions in the global wheat market on Nigeria’s…
73% of workers under contributory pension below 40 years – PenCom
The National Pension Commission has said that 73 per cent of contributors under the Contributory Pension Scheme are below 40 years of age. It said in its ‘Age and gender…
Tin-Can port is collapsing, says NPA
The Nigerian Ports Authority has said that Tin Can Island port is collapsing, saying that more attention should be focused more on rehabilitating the quay walls of the port. Speaking…
Nigeria spends 86% of revenue on debt servicing, South Africa pays 20%
Nigeria spent 86 per cent of its revenue on servicing debt in 2021, but South Africa spent only 20 per cent of its receipts on the same purpose, according to…
