Business

The Nigerian Minister of Aviation, Festus Keyamo, has announced that a significant Memorandum of Understanding (MOU) has been signed between Nigeria and The Boeing Company, one of the leading aircraft manufacturers in the world. The signing which took place in Seattle, Washington, featured key representatives from major Nigerian airlines, under the umbrella of the Airline Operators of Nigeria, and other…

The Central Bank of Nigeria (CBN) is set to re-issue N2.2 trillion worth of maturing Nigerian Treasury Bills (NTBs) in the fourth quarter of 2024. This is according to the newly released 2024 Issue Calendar by CBN. The re-issuance program is part of the government’s ongoing efforts to manage liquidity, sustain the financial market, and maintain economic stability. The calendar…

Domestic travellers paid 25 per cent more for air flights in July 2024, a new report by the Nigerian Bureau of Statistics (NBS) has said. The bureau in its Transport Fare Watch Report for July said domestic air fare rose by 25 per cent year-on-year (YoY) to ₦98,561.74 in July 2024 from ₦78.775.74 in July 2023. NBS said: “In air…

The management of Dangote Cement, Gboko Plant has declared that its host communities are critical stakeholders in its business operations and, as such, their developmental needs are given high priority. Gboko Plant Director, Louis Raj, emphasised the company’s unwavering commitment to the infrastructural and socio-economic development of the host communities. He assured that every segment of the host communities would…

The first trading session of the week closed on a positive note as the overall capitalisation rose by N37 billion, following buying interest in Okomu Oil Plc and 27 others. The Nigerian Exchange Limited All Share Index (NGX ASI) rose by 63.83 points or 0.07 per cent to close at 96,037.28 basis points. Also, market capitalisation gained N37 billion to…

The Honourable Minister of Aviation and Aerospace Development, Festus Keyamo, SAN, has arrived in Charleston, South Carolina, alongside the CEOs of major Nigerian airlines for a week-long engagement with Boeing. The visit, which follows an invitation from Boeing, will also include a trip to Seattle, Washington. In a statement released by Obafemi Bajomo, the Special Adviser to the Minister, it…

In line with its strategic vision to be a dynamic and reliable global energy supplier of choice, the Nigerian National Petroleum Company Limited (NNPC Ltd.) has commenced shipment of Liquefied Natural Gas (LNG) cargoes to Japan and China on Delivered Ex-Ship (DES) basis. The Chief Corporate Communications Officer, NNPC Ltd, Olufemi Soneye in a statement stated the company achieved the…

The Assets Management Corporation of Nigeria (AMCON) says the only way to make the  Ibadan Electricity Distribution Company (IBEDC) more efficient is to sell it to viable investors. The AMCON Managing Director/Chief Executive Officer, Gbenga Alade, stated this at an interactive session with media executives in Lagos on Monday. Alade told journalists that when he took office five months ago,…

Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Monday stated that the approvals given to the NAOC-Oando and Equinor – Chappal divestments were in accordance with the Petroleum Industry Act (PIA) 2021, stressing that it defined regulatory framework, and standard consent approval process set by the Commission under the Act. The head, public affairs unit, NUPRC, Mrs. Olaide Shonola in a…

The League of engineering bodies in Nigeria have hailed the huge scale of engineering structures at the Dangote Petroleum Refinery and Petrochemicals and Dangote Fertiliser Plant at Ibeju-Lekki, Lagos State, describing the superstructure at the complex as awesome and mind-blowing; even as the company prepares for the rollout of its premium motor spirit (PMS) product, also known as petrol. The…