Economy
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Ajaokuta-Kaduna-Kano Gas Pipeline Project nears 70% completion
Nigerian National Petroleum Company Limited (NNPCL) has revealed that the ongoing Ajaokuta-Kaduna-Kano Pipeline Gas project is nearing completion. On Monday, the Group Managing Director/Chief Executive of the national oil company, Mallam Mele Kyari led some management team to inspect the project. Kyari who inspected the AKK Gas Pipeline project sites in Ahoko, Kogi State, said the project is almost at…
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Nigeria boost non-oil exports to China with new trade house
Nigeria has launched the Nigerian Export Trade House in China, a facility aimed at boosting the country’s range of non-oil exports to the Asian country. The facility, located in Changsha, Hunan Province, was unveiled by Nigerian agro-processing company Zeenab Foods Limited in collaboration with the Nigerian Export Promotion Council (NEPC). The launch of the facility is part of NEPC’s Export…
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Latest inflation numbers show CBN is not winning the fight despite hawkish stance
The Central Bank of Nigeria (CBN) is not winning the fight against a pesky inflation that has eroded purchasing power in Africa’s biggest economy, nearly a decade after it said it would bring inflation numbers down to a single digit of 9% at the most. Latest data from the country’s National Bureau of Statistics which showed that inflation rose to…
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NBS reaffirms quality of statistical reports, announces changes to job survey methodology
The Statistician-General of the Federation (SGF)/Chief Executive, National Bureau of Statistics (NBS), Mr. Semiu Adeniran, has reaffirmed the quality and reliability of statistical reports by the bureau, stating that all methodology aligns with global best practices. “We don’t just wake up at NBS to say we want to change the definition or methodology of unemployment on our own. Methodology is…
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Passengers stranded as aviation unions shut down flight operations
Air travellers were on Monday stranded at the Murtala Mohammed Airport (MMA) terminal as aviation unions began their two-day warning strike. Members of the union blocked the entrance of the MMA, leaving passengers stranded. Officials of the various aviation agencies, including owners of businesses and staff within the airport, didn’t have access to their offices. Flight operations were grounded at…
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FAAN advises travellers to make contingency plans ahead of aviation unions’ planned strike
Travellers and stakeholders have been advised by the Federal Airports Authority of Nigeria (FAAN) to make contingency plans to avoid missing their flights due to a planned strike by aviation unions which could affect scheduled flight operations. In a statement issued on Monday in Abuja, the management of Nnamdi Azikiwe International Airport (NAIA) warned that passengers may experience “disruptions in…
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OECD, Nigeria meet on maximising benefits of two-pillar tax solution
A delegation from the Organisation for Economic Co-operation and Development (OECD) met with Nigerian representatives on 4th and 5th April 2023, at a workshop it jointly organised with the Federal Inland Revenue Service (FIRS), to discuss the maximisation of the benefits of the Two-Pillar Solution for Nigeria. This is contained in the Workshop’s Outcome Statement released today. The Outcome Statement…
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Ibom Air receives IOSA certification, positions for continental operations
Ibom Air, a limited liability company wholly owned by the Akwa Ibom State government, has been presented with the IATA Operational Safety Audit (IOSA) certification, positioning the airline for regional operations and collaborations. According to a press release by the Group Manager, Marketing and Communication, Ibom Airlines Limited, Aniekan Essienette, the IOSA certification was presented by the International Air Transport…
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Amaechi sacked me at NPA to protect Atiku’s business interest – Hadiza Bala-Usman
Former Managing Director of Nigeria Ports Authority (NPA) Hadiza Bala-Usman has accused former Minster of Transportation, Rotimi Amaechi of sacking her to protect the interest of INTELS Boat Service owned by former Vice President, Atiku Abubakar. Bala-Usman, in her 200-page memoir: “Stepping On Toes: My Odyssey At The Nigerian Ports Authority”, published by Cable Books, said the NPA’s refusal under…
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Nigeria’s economic growth will fall to 3% in 2024, says IMF
The International Monetary Fund (IMF) has predicted that Nigeria’s economic growth will fall from 3.2 per cent in 2023 to 3.0 per cent in 2024. The Bank retained Nigeria’s 3.2 per cent economic growth projection for 2023 in its recent world economic outlook update. In its ‘World Economic Outlook: A Rocky Recovery (2023 Apr),’ report released on Tuesday, the IMF…
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