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Tag: Nigeria

Aviation ministry gets N40bn approval for NAVAID upgrade
Aviation

Nigeria-Niger Republic flights remain suspended – FG 

The Nigerian Airspace Management Agency played a role in the ongoing prohibition on aircraft travel between the two countries. The PUNCH reported that according to NAMA, exceptional flights, aircraft in a state of emergency, and over-flight aircraft using Nigerian airspace are among the approved exceptions to the embargo. General Abdourrahamane Tchiani succeeded Mohamed Bazoum, the legitimately […]

NNPCL fuel subsidy gains not fully remitted - World Bank
News

Seven Nigerian states to face food crisis in 2024 — W’Bank

Borno, Adamawa, Kaduna, Katsina, Yobe, Sokoto, and Zamfara states are the ones the world bank spoke about. According to the World Bank’s most recent Food Security report, because of armed conflict and other factors that are lowering living standards throughout the area, seven states in the North-west and North-east are expected to be at crisis food […]

Fuel, electricity tariff cap costly, IMF warns Nigeria
News

IMF Projects Nigeria’s inflation rate to drop to 15.5% in 2025

Nigeria’s inflation rate is expected to drop to 15.5 per cent in 2025 and 23 per cent in 2024, according to the International Monetary Fund. The IMF’s Division Chief of Research Department, Daniel Leigh, made a suggestion about this during the recent World Economic Outlook update press conference. As of December 2023, Nigeria’s inflation rate was […]

6000 brands receive certification from SON
News

6000 brands receive certification from SON

The Standards Organisation of Nigeria has demonstrated its dedication to maintaining quality standards in the nation by successfully certifying an astounding 6000 brands. The former director of product certification at SON, Tersoo Iyorshe Orngudwem revealed this information at a retirement celebration in Abuja. According to him, the accreditation is a major step forward in the continuous […]

World Bank bans Nigerian companies, CEO over fraudulent practices
Banking

World Bank MD to visit Nigeria

By Christian George The World Bank’s Managing Director of Operations, Anna Bjerde, will visit Nigeria on February 6, 2024 to meet with ministers and Central Bank of Nigeria governor. Bjerde who is expected to spend two days in the country will focus more on the key pillars of Nigeria’s development strategy. According to a statement, […]

Finance Corporation invests $2bn in Nigeria - Official
News

Finance Corporation invests $2bn in Nigeria – Official

Finance Corporation invests $2bn in Nigeria – Official The International Finance Corporation made $2 billion in investments in Nigeria, distributed among several industries, according to the Regional Vice President for Africa,  Sergio Pimenta. The PUNCH reported that Pimenta made this statement during the recent BoI-IFC Conference on Empowering Futures in Lagos, where participants convened to devise […]

Nigeria-China trade hits $23bn - Envoy
featured

Nigeria-China trade hits $23bn – Envoy

The Chinese Ambassador to Nigeria and Consul General of the People’s Republic of China, Yan Yuqing, estimated that bilateral commerce between Nigeria and China would be $22.6 billion in 2023. The PUNCH reported that Nigeria has continued to be China’s third-largest trading partner in Africa, according to Yuqing. She made this revelation in Lagos during […]

Dangote refinery urges NUPENG, PTD to resolve conflict
News

FG hails Dangote over efforts to diversify economy

The Federal Government has praised the Dangote Group for contributing to the government’s efforts to diversify the country’s economy, as well as the company’s commitment to promoting best practices across all of its enterprises. The PUNCH reported that he appreciated Dangote Group at the same time that the Ogun State Government announced that Dangote Cement, which […]

EFCC investigating Sirika's Nigerian Air deal – Keyamo
Economy

EFCC investigating Sirika’s Nigerian Air deal – Keyamo

Minister of Aviation and Aerospace Development, Festus Keyamo has disclosed that the Economic and Financial Crimes Commission is investigating the controversial Nigeria Air deal initiated by former Aviation Minister, Hadi Sirika. Keyamo made this known during an appearance on Channels Television’s Politics Today program on Wednesday. Keyamo stated, “There is a criminal investigation going on. […]

How banks sent 'charming' ladies to lure my interest — Otedola
Banking

Femi Otedola named First Bank Holdings chair

Nigerian billionaire, and entrepreneur Femi Otedola, has been appointed as the new chairman of the board of directors for the First Bank of Nigeria Holdings. The decision, announced after a recent board meeting, saw Otedola taking over from the outgoing Chairman, Alhaji Ahmad Abdullahi. This move comes amid Otedola’s recent excitement about rejoining the Forbes […]

Economy featured

Senate summons CBN governor over naira decline

The Senate, through its Committee on Banking, Insurance, and other Financial Institutions, called upon Central Bank of Nigeria Governor Olayemi Cardoso before it next Tuesday. The summons pertains to queries regarding the economy’s status and the drastic fall of the naira in the forex market. Chaired by Senator Adetokunbo Abiru (APC Lagos East), the committee […]

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