Economy
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Customs to relaunch e-auction platform for bidding
The Nigeria Customs Service (NCS) has announced the relaunch of its e-auctioning platform for interested bidders. In a statement issued by the NCS spokesperson, Abdulliah Maiwada on Friday the agency said the action is in pursuit of its commitment to continuous improvement of the customs. It further said the move aligns with the guidelines outlined in the newly enacted Nigeria…
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FAAN defends decision to move headquarters from Abuja back to Lagos
The Federal Airports Authority of Nigeria (FAAN) has defended the decision to relocate its headquarters from Abuja to Lagos as directed by Minister of Aviation Festus Keyamo. In a statement on Thursday, FAAN noted that its original base was in Lagos before what it described as ill advised decision to relocate its headquarters to Abuja. in However, FAAN in a…
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FG moves FAAN headquarters to Lagos
Thefederal government has announced the relocation the Federal Airport Authority of Nigeria (FAAN) from the federal capital territory (FCT) in Abuja to Lagos. This was disclosed in a circular by the managing director and chief executive officer of FAAN, Olubunmi Kuku dated January 15, 2024. According to Kuku, the Minister of Aviation and Aerospace, Festus Keyamo, gave the directive to…
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WEF: Shettima urges African leaders to ramp up 3% of continents global GDP
Nigeria’s Vice President, Senator Kashim Shettima, has implored African leaders to work towards ramping up the total $3.1 trillion Gross Domestic Product (GDP) of countries on the continent, amounting to a paltry three percent of the overall global GDP. According to him, “the total Gross Domestic Product of African countries taken together is barely $3.1 Trillion, which is less than…
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Why AfCFTA must not be allowed to fail – Shettima
oos more foreign investors to Nigeria ays, policies in energy, digital, creative sectors make Nigeria investors’ delight The Vice President, Sen. Kashim Shettima, has said the need to increase intra-Africa trade currently put at 15% and its potential to raise the continent’s GDP are some of the compelling reasons why the African Continental Free Trade Area (AfCFTA) agreement must not…
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PHOTO NEWS: Okonjo-Iweala felicitates Macron for Global Statemanship award
Director General of World Trade Centre, Ngozi Okonjo-Iweala has taken her X handle to send her warm congratulations to the President of France, Emmanuel Macron for winning the World Economic Forum’s Global Statesman Award. World leaders, policy makers, business leaders, civil society activists including the French leaders are currently participating in the ongoing WEF summit. Okonjo-Iweala wrote on X: “Congratulations…
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BREAKING: NCC stops disconnection of Glo from MTN
The Nigerian Communications Commission (NCC) has halted the disconnection of Globacom Limited (Glo) by MTN Nigeria concerning interconnection debt. In a recent statement, the NCC revealed that both telecom companies have mutually committed to resolving all pending issues. This development follows the regulator’s earlier permission, granted almost two weeks ago, allowing MTN to initiate a phased disconnection of Glo starting…
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CBN pays $2bn to clear outstanding Forex liabilities
The Central Bank of Nigeria said it paid approximately two billion dollars to clear the backlog of outstanding foreign exchange liabilities across various sectors. According to a statement by CBN’s Acting Director, Corporate Communications Department, Hakama Sidi-Ali in Abuja on Thursday, the benefiting sectors include manufacturing, aviation, and petroleum. Mrs Sidi-Ali said that the apex bank had also cleared up…
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FG says it’ll continue electricity subsidy to ease burden on Nigerians
The Nigerian government has announced that it will continue to subsidize electricity in order to ease the financial burden on its citizens in the face of economic challenges. Sanusi Garba, the chairman of the Nigerian Electricity Regulatory Commission (NERC), made this announcement during a news conference held in Abuja on Wednesday. “Government has decided for now, arising from the cost…
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Equities market appreciates by 2.38% to cross 90,063.25 basis points
The equities market of the Nigerian Exchange Limited (NGX) on Wednesday gained 2.38 per cent to cross the 90,000 basis points amid its third consecutive gain this week driven by sustained bargain hunting in Dangote Cement Plc and 46 others. The Nigerian Exchange Limited All Share Index (NGX ASI) rose by 2,092.15 basis points or 2.38 per cent to close…
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