BUSINESS
NCAA Suspends Azman Air For Failing To Renew Licence
The Nigerian Civil Aviation Authority (NCAA) has suspended Azman Air over the carrier’s inability to renew its Air Operators Certificate (AOC). It was also learnt that the regulatory body had given it much time to renew the AOC, but failed despite issuing the airline another 30 days ultimatum to meet the requirements. A source in the airline however said the required...
Nigeria’s Public Debt Stock Hits N42 Trillion
Nigeria’s total public debt stock, which was N41.60 trillion ($100.07 billion) in March, increased to N42.84 trillion ($103.31 billion) by June. This information can be found in a statement that was obtained on Tuesday from the website of the Debt Management Office. According to the statement, the total debt represents the domestic and external debt stocks of the Federal Government of...
We’re Worried Over Rejection Of Nigeria’s Food Items Abroad, FG Laments
The federal government has said it is working hard to stop the rejection of Nigeria’s food items and other goods exported out of the country, describing the situation as worrisome and affecting the country economically. The Minister of Health, Dr Osagie Ehanire, spoke in Lagos during the opening of a six-day training for members of the National Codex Committee on...
Consumers Traders Kick Against Plan To Ban Ponmo
Some Nigerians have kicked against the proposed plan by the Federal Government to ban the consumption of cooked cow skin, popularly known as ponmo. Recall that the Director General of the Nigerian Institute of Leather and Science Technology, Zaria, Prof. Muhammad Yakubu, recently said the institute and other stakeholders would be approaching the National Assembly and state governments to establish...
Total Blackout In Abuja, Abia, Imo, Others As National Grid Collapses
Abuja Electricity Distribution Company, AEDC has confirmed power outage in Abuja due to collapse of national grid. AEDC in a statement on its Twitter page blamed the power outages in parts of FCT on the grid collapse. It electricity company said the situation was being handled and that power would be restored in the shortest possible time. A statement from the AEDC...
Davido To Dole Out N20m To Entrepreneurs
Music star David ‘Davido’ Adeleke has announced his decision to dole out N20million to a few small medium enterprises in Africa. The singer announced this via his Twitter page on October 1, 2022. “Long awaited announcement. Like I promised, I’m giving N20 million to a few companies in Africa,” he announced. However, Davido noted that only companies that make use of a...
Fuel Subsidy Will End By 2023, It’s Unsustainable – Buhari
President Muhammadu Buhari has affirmed that the costly fuel subsidy will end by 2023. Buhari said this on Friday during the presentation of the proposed 2023 budget to the national assembly, in Abuja. Buhari had presented a record N20.51 trillion 2023 appropriation bill to the national assembly, earlier on Friday. He said the subsidy was no longer sustainable considering the current fiscal impact. “As we seek...
Naira Gains Marginally Against Dollar, Exchanges At 441.25
The Naira on Monday exchanged N441.25 against the dollar at the Investors and Exporters window, making a slight appreciation. The figure represented a slight increase of 0.03 percent when compared to the N441.38 it exchanged for the dollar before the close of business on 14 October. NAN also reports that the open indicative rate closed at N439.63 to the dollar on...
Court Bars Kogi State Govt From Shutting Down Dangote Cement Operations
A Federal High Court in Abuja has restrained the Kogi State government and its agents from further disrupting the operations of Dangote Cement Plc and its associated companies in the state. In a ruling yesterday, Justice Binta Nyako also restrained the state government and its agents from further shutting down, disrupting or suspending the activities of Dangote Coal Mines Limited...
$1 Now ₦788, We Are Not Aware Of Naira Redesigning – Finance Minister
Minister of Finance, Budget, and National Planning, Zainab Ahmad, has disassociated her ministry from the planned move by the Central Bank of Nigeria ( CBN) to redesign the naira. The minister, who commented on the policy in response to a question raised by Senator Opeyemi Bamidele (APC Ekiti Central) during the 2023 budget defense session with the Senate Committee on...
