Economy

Nigeria’s GDP improves by 4.03% in Q3 2021 — NBS

The National Bureau of Statistics (NBS), says Nigeria’s Gross Domestic Product (GDP) increased by 4.03 per cent in the third quarter of 2021. This is according to a report released by the NBS on Nigerian Gross Domestic Product Report (Expenditure and Income Approach) for Q3, Q4 2021 in Abuja on[Read More…]

Petrol marketers Association urge Nigerians to prepare for the worst fuel crisis

The Independent Petroleum Marketers Association of Nigeria has asked Nigerians to prepare for the worst fuel crisis. To avoid this, the petrol marketers association asked the Federal Government to prevail on the Nigerian Midstream and Downstream Petroleum Regulatory Authority to pay its members their outstanding bridging claims amounting to over[Read More…]

Local Airlines suspend flights shutdown in Nigeria

The Airline Operators of Nigeria, the umbrella body for domestic airlines, on Sunday cancelled its decision to halt flight services across the country beginning Monday. But before the AON announced the cancellation of its earlier decision, five of its members had already declared that they would not join in the[Read More…]

Airline Operators of Nigeria insist on shutting down flight operations

The Airline Operators of Nigeria (AON) on Sunday said they are not backing down on its decision to suspend operations in response to the astronomic and continuously rising cost of JetA1 despite various interventions in the last 24 hours. In a statement jointly signed by Shehu Wada – Executive Director,[Read More…]

Ibom Airlines says it will not join the planned shutdown of flights in Nigeria

Ibom Airlines says it will not join the planned shutdown of flights announced by the Airlines Operators of Nigeria (AON). The AON had on Friday said its members would suspend flight services on Monday due to the unbearable high cost of aviation fuel (JetA1) and other associated costs. But in[Read More…]

Lagos to begin Badagry Seaport construction

The Lagos State government on Thursday said plans have reached an advanced stage to begin the construction of Badagry Seaport in the state. Governor Babajide Sanwo-Olu made the disclosure in Lagos at the All Markets Conference 2022 (AMC’22), organised by the Ndigboamaka Progressive (Markets) Association, whose theme was “Development and Sustainability[Read More…]

Security beefed up at  Nigerian airports ahead of Eid-Fitri

The Federal Airports Authority of Nigeria (FAAN) says security has been beefed up at the nation’s airports ahead of the Eid-el-Fitri celebration. Faithful Hope-Ivbaze, the acting General Manager, Corporate Affairs of FAAN said this in a statement on Saturday in Lagos. Mrs Hope-ivbaze said: “As part of our preparations to ensure[Read More…]

Lagos Govt pays N1.128bn, accrued pensions to 438 retirees

The Lagos State government on Friday said it had paid N1.128 billion, representing the accrued pensions of 438 retirees and their contributions for April. The Commissioner for Establishments, Training and Pension, Mrs Ajibola Ponnle, confirmed this at the 93rd Retirement Bond Certificate presentation to retirees of the Lagos State Public[Read More…]

Africa faces infrastructure financing gap of $108bn annually — Adesina

The African Development Bank (AfDB), says that Africa is currently facing an infrastructure financing gap of between $68 billion to $108 billion annually. According to the Bank, this is in spite of collective efforts to close the margin. The Bank said this in a statement obtained from its website by[Read More…]

It is much easier to do business in Nigeria now – Buhari

President Muhammadu Buhari told captains of industry and political leaders at the dinner that his administration had done exceedingly well in improving the business climate, urging the private sector to complement the government’s effort in poverty reduction and job creation for the young people. According to a statement by presidential[Read More…]