NCCA suspends private jets’ commercial operations
The Nigerian Civil Aviation Authority (NCAA) has suspended the permits for non-commercial flight licenses of three private jets for engaging…
Month: April 2024
FG Clarifies Recent Electricity Tariff Hike
The Nigerian government has explained that the recent increase in electricity tariffs mainly affects a small, affluent portion of the…
$461m investment gap slows Nigeria’s internet coverage
As of January, Nigeria’s broadband penetration dropped to 42.53%, with 92.19 million subscriptions in a country of over 200 million…
UBA expresses confidence in meeting new N500bn capital base
United Bank for Africa Plc (UBA) has affirmed its confidence in meeting the new capital base set by the Central…
Royal Exchange Rights Issue Falls Short at 75.83% Subscription
Royal Exchange Plc, a company offering life assurance, health insurance, and credit financing services, saw its recent rights issue close…
Manufacturers may head for court over unsettled forex backlog – MAN DG
In this interview, the Director-General of the Manufacturers Association of Nigeria, Segun Ajayi-Kadir, discusses the impact of unremitted dollar debts…
Transcorp Power Targets 740MW Electricity From Ughelli Power Plant
Transcorp Power has revealed its ambition to boost electricity generation at its Ughelli power plant, targeting a peak of 740…
Local Refinery To Buy Crude In Naira — FG
iThe Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has introduced a new template to facilitate seamless domestic crude oil supply, including…
SEC, Capital Market Community Hold Q1 Meeting
The Securities and Exchange Commission (SEC) has revealed plans for the Capital Market Committee (CMC) meeting, scheduled to be held…
UBA outlines growth strategies for 2024
United Bank for Africa (UBA) Plc has unveiled its strategies to bolster growth prospects for the 2024 financial year. During…
Food inflation hits 40% in Nigeria as prices continue to soar
The National Bureau of Statistics (NBS) has reported a staggering increase in food inflation to 40% in March, marking a…
N720bn lost to lower crude production in two months- Report
Nigeria experienced a significant loss of approximately N720 billion in revenue due to consecutive monthly declines in crude oil production…
FG begs electricity union to avoid strike
The Federal Government has urged members of the National Union of Electricity Employees (NUEE) not to go on strike in…
Nigeria’s Tier-1 banks plan $3.03 billion in fresh capital
Four of Nigeria’s tier-1 banks, including FBN Holdings, Access Holdings, Guaranty Trust Holding Company Plc, and United Bank for Africa…
Attacks on Russian refineries may disrupt global oil markets
The International Energy Agency (IEA) has voiced support for the United States’ stance, indicating that Ukrainian drone strikes on Russian…
Zenith bank takes steps to meet CBN’s N500bn capital requirement
Zenith Bank Plc has announced its proactive measures to comply with the Central Bank of Nigeria’s (CBN) new capitalization requirement…
Air Peace faces tough competition on London Route as currency rebounds
Air Peace recently launched flights on the Nigeria-London route, sparking intense competition with established foreign airlines. The airline’s inaugural flight…
Six banks shareholders get N366bn dividends –Report
In 2023, investors in six Nigerian financial institutions reaped significant rewards, with final dividends totaling approximately N366.93 billion, as reported…
FG targets 6,000 megawatts of electricity in 6 months
Nigeria’s Minister of Power, Adebayo Adelabu, has provided assurance that the country is set to generate 6,000 megawatts (MW) of…
NNPC Chief pledges increased gas supply to stabilise naira
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Kyari, has vowed to escalate the supply of Nigeria’s…
Former CBN Governor Godwin Emefiele Granted N50 Million Bail
A high court in Ikeja, Lagos, has approved a N50 million bail for the former Central Bank of Nigeria (CBN)…
20hrs Supply: DisCos post 37 apologies to Band A customers In 1 week
Following the Nigerian Electricity Regulatory Commission’s (NERC) recent increase in electricity tariffs for Band A customers, electricity distribution companies (DisCos)…
China’s exports likely swung back to contraction in March
A Reuters poll conducted on Thursday suggests that China’s exports likely declined in March, following a period of better-than-expected growth…
Nike pins hopes on Olympics to win back market share
The company will outfit athletes from various countries, including the United States, Canada, China, Kenya, Germany, Uganda, and more, across…
US bets on climate friendly farming, plan raises doubts
President Joe Biden’s administration is incentivizing farmers to adopt practices that store carbon in the soil to combat climate change.…
Amazon CEO eyes cost reductions in fulfillment network
Amazon’s CEO, Andy Jassy, revealed plans to further reduce costs in the company’s fulfillment network, following recent staff reductions across…
Government expects 1.5trn savings, more meters with electricity tariff hike
The Federal Government has announced that it expects to save a significant amount of money this year following the recent…
Dredgers Association threatens legal action over Tilapia Fish mortality
As the controversy surrounding the death of tilapia fish in Epe persists, the Dredgers Association of Nigeria (DAN) has issued…
New CEO of Africa Prudential eyes capital market opportunities
Catherine Nwosu, the recently appointed Managing Director/Chief Executive Officer of Africa Prudential Public, has outlined plans for the firm to…
IBEDC MD urges customers to halt attacks on workers
Kingsley Achife, the Managing Director of Ibadan Electricity Distribution Company (IBEDC), has issued an appeal to customers, urging them to…