Nigeria: Airfares May Rise As FAAN Hikes Service Charge By 100%
Airfares on domestic and international routes are set to rise as the Federal Airports Authority of Nigeria is to increase…
Category: Local
Mr Price Plans To Exit Nigeria, Closes Four Out Of Five Stores In The Country
Mr. Price Group is making plans to close its Nigerian business to focus on its home market business in South Africa. The…
Nigeria: Air Peace Flies 25 Airplanes To Different Parts Of The Country In Readiness For Flight Resumption
An indigenous airline, Air Peace, on Thursday announced that it flew all 25 aircraft in its fleet on June 24…
Nigeria: NNPC Posts N9.53bn Operational Loss For March
The Nigerian National Petroleum Corporation on Wednesday announced a trading deficit of N9.53bn for March 2020, which stood out as…
IMF Cuts Nigeria’s GDP Forecast, Says Economy Will Shrink By 5.4%
The International Monetary Fund has downgraded Nigeria’s 2020 growth projection, saying the economy will shrink by 5.4 per cent. The…
Nigeria Faces Worst Recession In 40 Years – World Bank
The collapse in crude oil prices, coupled with the COVID-19 pandemic, is expected to “plunge the Nigerian economy into a…
Nigeria’s Fiscal Crisis Due To Low Revenue – IMF
The International Monetary Fund has said Nigeria’s major fiscal challenge is its “very low revenue” and not so much of…
We’ll Steer Nigeria Away From Recession , Says CBN
The Central Bank of Nigeria on Wednesday said it would not be deterred in its effort to steer the Nigerian…
Naira Falls Big At the black market as demand pressure persists
Forex turnover at the Investor and Exporters (I&E) window continued with the positive trend as it rose by 42% on…
Nigeria: CBN Governor Confirms Exchange Rate Unification Plans
The Governor of the Central Bank, Godwin Emefiele, has confirmed that the Central Bank will continue to pursue unification around…
Nigeria: Flight Resumption May Not Lead To Airfare Hike– Aviation Minister
Minister of Aviation, Mr Hadi Sirika Monday assured anxious Nigerians that the planned re-opening of the airspace for domestic flights may not equate to a hike in fares.
Nigeria: FG, States Eye N212b Revenue As Naira Heads To N400/$
THE federal, states and local governments are set to earn additional N212 billion revenue this year from the planned unification…
Nigeria’s External Reserves Down By $261m
Data published by the Central Bank of Nigeria’s (CBN’s) website showed that Nigeria’s external reserve is now $36.3 billion as…
Nigeria: Jaiz Bank Shuts Down Ikeja Branch Following COVID-19 Scare
Jaiz Bank Plc, a non-interest bank that is listed on the Nigerian Stock Exchange, said its Ikeja branch has been…
Nigerian Stock Market Extends Losing Streak As Investors Lose N38bn
The nation’s stock market extended its decline on Monday as investors lost N38bn at the end of trading. The market…
Virgin Atlantic resumes Lagos-London flights August 24
Virgin Atlantic has announced its intention to resume flights from Lagos to London Heathrow from August 24, 2020 saying the…
Nigeria: Stocks Lose N190bn, Market Cap Falls Below N13tn
The nation’s stock market recorded a loss of N190bn last week as the market capitalisation of equities fell below the…
TikTok Users, K-pop Fans Say They Helped Sabotage Trump Rally With False Registrations
TikTok users and fans of Korean pop music took partial credit for inflating attendance expectations at a less-than-full arena at…
Nigeria: CBN To Integrate Non-Interest Window In Its Loans To SMEs, Households
The Central Bank of Nigeria (CBN) announced today that it has unveiled a framework that will integrate a non-interest window…
Nigeria: Stock Market Ends Four-Day Decline, Gains N22bn
The gains recorded by Nestle Nigeria Plc, Cadbury Nigeria Plc and eight other quoted companies helped the nation’s stock market…
Nigeria: Naira Slumps To 452/$ As Speculations, Debt Weaken Market
The dollar exchanged for N452 at the parallel market on Wednesday over speculations by operators in the market and the…
Nigeria: Inflation Hits 25-Month High At 12.40% In May
Nigeria’s rate of inflation, which is measured by the country’s Consumer Price Index, rose to 12.40 per cent in the…
Nigeria: FG, States, LGs Share N547bn For May
The Federation Accounts Allocation Committee on Wednesday at its virtual meeting shared to the three tiers of government a total…
Nigeria: Appointment Of Mr. Babalola Obilana As The New Director-General Lagos State Pension Commission
The Lagos state Governor Mr Babajide Sanwoolu has approved the appointment of Mr Babalola Obilana as the Director General of…
Nigeria: Sanwo-Olu Re-Jigs Security, Employment Trust Fund Boards
Lagos State Governor, Mr. Babajide Sanwo-Olu has approved the reconstitution of the Lagos State Employment Trust Fund (LSETF) and the…
Nigeria Needs To Spend 18% GDP On Infrastructure – IMF
The International Monetary Fund has estimated additional spending of 18 percentage points of Gross Domestic Product by 2030 for Nigeria…
Nigeria: Stock Market Rises Slightly As Investors Gain N90bn
The nation’s stock market rose by 0.67 per cent last week as the market capitalisation increased by N90bn. The Nigerian…
Shoppers Rush To The High Street As England Stores Reopen
Demand across England’s High Streets, retail parks and shopping centres surged on Monday as some shops reopened after a three-month…
JPMorgan To Bring Back More Traders To Office Next Week
JPMorgan Chase & Co (JPM.N) plans to start returning more traders to its Manhattan trading floors starting next week, Bloomberg…
EU And UK Agree To Speed Up Brexit Trade Talks With Plans To Hold Weekly Negotiations
The European Union and the U.K. government have decided to intensify Brexit talks over the coming weeks amid growing concerns…