Business

Geregu Power Plc has entered a partnership with Siemens Energy to expand the capacity of the Geregu 1 power plant in the country. This was contained in the company’s notice to the Nigerian Exchange Limited. The collaboration formalized through a Memorandum of Understanding (MoU) signed in Berlin on Wednesday, May 29, 2024, aims to enhance sustainable, resilient, and efficient power…

By Innocent Raphael Kimberly-Clark, an American multinational renowned for its Huggies brand, has announced its decision to halt local manufacturing and sales operations in Nigeria, ending its 14-year presence in the country. The company revealed this decision in a statement released on Friday, attributing the move to recently adjusted global strategic priorities and the prevailing economic conditions in Nigeria. “Kimberly-Clark…

By Innocent Raphael The Nigeria Civil Aviation Authority (NCAA) has announced its commitment to enhancing service delivery for people with disabilities at airports across the country. In a statement on Friday at a meeting, NCAA’s Acting Director General, Captain Chris Najomo, assured representatives from the National Commission for Persons with Disabilities (NCPWD) of the authority’s dedication to providing necessary facilities…

By Innocent Raphael The Ministry of Aviation and Aerospace Development, has announced the temporary suspension of the contentious $300 helicopter landing fee. This decision follows strong opposition from the Airline Operators of Nigeria (AON), who argued that the fee was commercially damaging. According to a statement by the Ministry detailing the suspension, a committee has been established to review the…

The Nigerian Airspace Management Agency (NAMA), has appealed to the Federal Government, to reverse the 50 per cent internal revenue deduction in the interest of Nigeria’s airspace safety. A statement by the agency’s Managing Director and Chief Executive, Engr. Farouk Umar, said the deduction hinders NAMA’s ability to maintain, upgrade, and replace its critical infrastructure. “The safety of our airspace…

By Innocent Raphael The Minister of Aviation and Aerospace Development, Festus Keyamo, has called on Turkish Airlines to consistently respect Nigerian passengers. This statement was made during a meeting on Wednesday with a high-level delegation from Turkish Airlines, including the airline’s Vice President in Charge of Africa, Hilemet Mesut Turkseven, and senior representatives from Lagos, Abuja, and the Turkish embassy.…

…visits President William Ruto of Kenya Chairman of Access Holdings Plc and Coronation Group, Aigboje Aig-Imoukhuede  has been honoured with the prestigious African Banker Lifetime Achievement Award. This distinguished accolade was presented at the African Banker Awards gala dinner and awards ceremony held in Nairobi, Kenya, on the sidelines of the 2024 Annual Meetings of the African Development Bank. Aig-Imoukhuede’s…

The most prestigious event in the African banking calendar, the African Banker Awards Gala Ceremony 2024, took place last night at the JW Marriott Hotel in Nairobi, Kenya, on the sidelines of the African Development Bank Annual Meetings. The ceremony was attended by over 300 of the continent’s leading figures in banking and finance. Now in its 18th edition, the…

…increases shareholders dividend by 50% to N30 per share Amidst applause by shareholders for the impressive results in the 2023 financial year despite the harsh business operating environment, the Chairman of Dangote Cement Plc, Aliko Dangote has announced an increase of 50 per cent on dividend payout to the shareholders, from N20.00 per share paid in the 2022 financial year…

By Innocent Raphael The federal government has announced the indefinite suspension of the Nigeria Airline project. Minister of Aviation and Aerospace, Festus Keyamo, made the announcement on Monday during a ministerial briefing commemorating the first year of President Bola Tinubu’s administration. Keyamo stated that the airline was not genuinely Nigerian but rather an attempt to disguise a foreign airline as…