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UN agency rejects transit fees in Strait of Hormuz

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Tag: Nigeria

Nigeria’s non-oil exports rise to $1.79bn in Q1 2025 – NEPC
News

Nigeria boosts trade ties, port efficiency with Belgium

Nigeria has become the largest contributor to the Port of Antwerp’s West African freight traffic, with over 6 million tonnes of cargo handled annually. This significant volume underscores the robust trade relationship between Nigeria and this key European maritime hub, reinforcing Nigeria’s position as a pivotal player in regional commerce. This was disclosed in a […]

NBS names three countries with highest capital investment in Nigeria
News

Nigeria ranked 9th investment destination in Africa – Report 

Nigeria ranked number nine among top African investment destinations, with Seychelles and Mauritius topping the list. The report assessed 31 countries on the continent, taking into account factors including social and human development, market accessibility, economic performance, and investment climate, according to Bloomberg. Nigeria is seen as an emerging market with substantial development potential, along […]

News

US-Nigeria aviation agreement restored to boost bilateral ties

The United States has announced it will restore an Air Transport Agreement with Nigeria to strengthen bilateral aviation ties between the two countries. This disclosure was made in a statement by the Public Diplomacy Department of the U.S. Mission in Nigeria, according to The Punch. It states that the Agreement, which has been provisionally in […]

News

Trade costs in Nigeria, Ethiopia higher than in US — W’Bank

The World Bank has stated that the cost of trade in Nigeria and Ethiopia is four to five times higher than what is obtained in the United States due to insecurity, higher transportation costs, topography, and poor road infrastructure. The Global lender pointed out in the Africa Pulse published on Monday that price differences between […]

Aviation

Delta Air will remain premium carrier for Nigeria passengers – Director

United States-based global carrier, Delta Air Lines, has renewed its commitment to remain a premium carrier of choice for Nigerian passengers as air traffic continues to grow across countries after the COVID-19 pandemic. This was disclosed by the Director of Sales, Europe, Middle East, Africa, and India, at Delta Air Lines, Paul Hassenstab, during a […]

Aviation

Air Peace’s first London flight spur excitement

The excitement of the weekend’s full flight to London by Air Peace was noteworthy in Nigeria. To celebrate this occasion of its inaugural flight to London, the airline held a brief ceremony at  Murtala Muhammed International Airport New Terminal, BusinessDay. Some of the dignitaries present at the occasion include Festus Keyamo, the Minister of Aviation […]

News

Femi Agbaje named Notore Chemical Industries chair

Notore Chemical Industries Plc has announced the appointment of Mr. Femi Agbaje as the Chairman of the Board of Directors until the Completion of the Company’s ongoing Private Placement Transaction. This was disclosed in the company’s notice to the Nigerian Exchange Limited and the investing public. According to the statement signed by the Group Chief Legal […]

Economy

Nigeria earned N2.33tn from VAT, CIT in Q4 2023 – NBS

Nigeria’s economy witnessed a significant influx of revenue from Value Added Tax and Company Income Tax in the fourth quarter of 2023, according to the latest figures released by the National Bureau of Statistics. In the final quarter of the year, the combined VAT and CIT collections amounted to approximately N2.33 trillion, according to nairametrics. […]

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Nigeria’s crude oil output drops 7% in February – OPEC

Nigeria’s crude oil production, excluding condensate decreased month-on-month by 7 per cent to 1.3 million barrel per day in February 2024, from 1.4 million barrels per day recorded in January; despite the efforts of the federal government to increase oil production. This was disclosed by the Organization of the Petroleum Exporting Countries in its March […]

Nigerian banks involved in 70% of financial crimes - EFCC
News

Nigerian banks involved in 70% of financial crimes – EFCC

The Economic and Financial Crimes Commission on Monday indicted the banks in relation to about 70 percent of Nigeria’s banking offences. This was disclosed by Ola Olukayode, Chairman EFCC, while speaking in at the 2023 Annual Retreat and General Meeting of the Association of Chief Audit Executives of Banks in Nigeria, in Abuja, according to […]

Developers lament price surge, failing revenue
Real Estate

Developers lament price surge, failing revenue

Developers are worried about how growing building material costs may affect their bottom line. The PUNCH stated that, during the launching of Kingsize Place in Oregun-Ikeja, Lagos on Saturday, they voiced their concerns. Developers are facing difficulties due to the growing cost of construction materials, according to CEO of Hontar Projects, Deji Fasunwon. He stated, […]

IMF backs CBN on interest rate hike
Business

IMF doesn’t publish exchange rates – Rep

The International Monetary Fund Resident Representative for Nigeria, Christian Ebeke, stated in a statement on Friday that the IMF does not release exchange rate projections. According to Nairametrics, this announcement followed a flurry of headlines in the Nigerian press that cited the IMF for exact exchange rate estimates between the US dollar and the naira […]

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