Gencos, Discos, others’ revenue shortfall hits N1.6tn
Total shortfall in the Nigerian power sector has reached N1.6trn in eight years, findings have shown. The Executive Director, Research and Advocacy, Association of Nigerian Electricity Distributors, Sunday Oduntan, revealed…
Customs, firm seal $3.2bn digitisation deal
The Nigeria Customs Service and a consortium, Trade Modernisation Project Limited, on Monday, signed a concession agreement worth $3.2bn to digitalise operations of the border security and revenue collection outfit.…
Airfares rise by 52% over forex, jet-A1 crisis
The average airfare paid by passengers on specified routes for a single journey has increased by 52 per cent in the past 12 months, the National Bureau of Statistics data…
Commodity price surge to become global problem – World Bank
The World Bank on Monday said that recent commodity price shocks, particularly in food and energy, are likely to be felt by people around the world. This was disclosed in…
Nigeria eligible for preferential access to US market – Ambassador
The United States of America Ambassador to Nigeria, Mary Beth Leonard, at the weekend, disclosed that Nigeria would continue to be eligible for preferential trade access to the US market…
NPA has no right to concession barging – Operators
The Barge Operators Association of Nigeria has said that the Nigerian Ports Authority, NPA, does not have the right to concession barging because they are owned by individuals and not…
Cabals benefit from petrol imports, frustrate local refineries –IPMAN
The massive imports of Premium Motor Spirit, popularly called petrol, using the United States dollar, will continue to put pressure on the naira and cause a further devaluation of the…
Banks tighten access to forex as reserves hit seven-month low
The country’s external reserves hit a seven-month low after falling to $38.57bn as of May 25, 2022, figures obtained from the Central Bank of Nigeria have revealed. Findings have shown…
New law’ll curb money laundering in real estate –SAN
The International Real Estate Federation, FIABCI-Nigeria, has expressed optimism that the recently passed Money Laundering Act will curb the rate at which funds are siphoned through the real estate sector.…
Lagos to inaugurate Imota rice mill in 10 weeks
The Lagos State Government has assured that the 32-metric tons per hour Rice Mill in Imota, Ikorodu division, will be ready for inauguration in 10 weeks. Ms Abisola Olusanya, the…
Marketers clash over price as cooking gas demand falls by 38%
National cooking gas demand has dropped by 38 per cent, according to the Nigerian Association of Liquefied Petroleum Gas Marketers. The revelation came on the heels of clamours by a…
Lagos runway repairs delayed, flights diverted to Ghana, others
There was pandemonium at the Murtala Muhammed Airport, Lagos on Saturday night as a seven-hour closure of the international runway for repairs later turned to a total closure of the…
