Budgeting Economy News Extra Latest News Maritime Transportation

FG Approves $5.3Bn For Ibadan-Kano Rail Project

Minister of Transportation, Mr. Rotimi Amaechi, on Thursday disclosed that the Federal Government had approved for the execution of Ibadan-Kano standard gauge rail project the sum of $5.3 billion. The disclosure was contained in a statement issued by minister’s Special Assistant Media, Israel Ibeleme, shortly after the 3rd Maritime Stakeholders Interactive Forum held in Lagos. […]

Economy News Extra Latest News Revenue Transportation

Ministry Declares Revenue Collection On Federal Highways Illegal

The Federal Ministry of Transportation has said that revenue collection by state and local government agents along federal highways is illegal and called on the law enforcement agents to halt the practice. The position of the ministry on collection of revenues on federal highways, through erection of road blocks by the sub-national governments agents, was […]

Economy News Extra Latest News Revenue Transportation

LCCI Seeks Automotive Policy Review, Incentives For Local Automakers

The Lagos Chamber of Commerce and Industry (LCCI) has called on the government to consider immediate review of the nation’s Automotive Policy in view of its flaws that are not reflective of the current realities in the industry and attendant negative implications for the development of the local industry. The organized private sector (OPS) group […]

Economy News Extra Latest News National Assembly Transportation

Senate Throws Out Electric-Powered Automobiles Bill

The Senate on Wednesday during plenary rejected a bill proposing the complete phase out of petrol-powered cars in Nigeria and adopting the electric-powered automobiles. The sponsor of the bill, Senator Ben Murray-Bruce, had while presenting the draft legislation argued that it would be cheaper to use electric-powered cars than the current petrol-powered automobiles cars in […]

Economy News Extra Latest News Transportation

FAAN Threatens Airports Shutdown Over Operators’ Debts

The Federal Airports Authority of Nigeria (FAAN), has indicated its readiness to suspend its services at Gombe, Kebbi and Bebi airports as from May 1 following the airports management’s failure to settle their outstanding indebtedness it. The authority’s spokesperson, Mrs. Henrietta Yakubu, in a statement also hinted that more airports or terminals would also cease […]

Economy News Extra Investments/Capital Market Latest News Transportation

Air Peace, Embraer SA, Seal $2.12Bn Aircraft Purchase Deal

Nigeria’s fast-growing commercial airline, Air Peace and Brazilian aviation company, Embraer SA, announced on Wednesday the signing of an order for 10 E195-E2 jets worth $2.12 billion if all purchase rights are exercised. According to the terms of the deal, the order will be included in Embraer’s backlog for the second quarter of this year. […]

Economy News Extra Latest News Taxation Transportation

Aviation Stakeholders Seek Low Tax Regime For Sector

Stakeholders in Africa’s aviation sector have canvassed the need for governments in the continent to review downwards some taxes on airlines, travellers and other air travel-related businesses as a strategic step towards growing the sector. The stakeholders at the weekend also urged African government to stop seeing air transport as luxury service, but as a […]

Latest News Transportation

NCAA Cautions Pilots, Others On Hazy Weather Conditions

The Nigerian Civil Aviation Authority (NCAA) on Sunday instructed Air Traffic Controllers (ATCs) in all the nation’s airports to temporarily close the airspace during hazardous weather conditions to avert air travel crisis. This is even as it also advised pilots and airline operators to exercise caution during flight operations in such weather conditions. The agency […]

Foreign General News/Info Latest News Transportation

Boeing Announces Fixes For ‘Troubled’ 737 Max 8 Aircraft

Boeing has issued changes to control systems linked to two fatal crashes of its 737 Max planes in the past five months. However, the U.S aircraft manufacturing company did not give go ahead to operators to resume flight with the aircraft which were grounded by many countries’ aviation authorities following  the fatal crashes. A news […]

Economy News Extra Latest News Transportation

FAAN Defends N101.6Bn Budget Proposal For 2019

The Federal Airport Authority of Nigeria, (FAAN) on Wednesday defended its proposed N101.6 billion budget for 2019 at the National Assembly. The Managing Director of the agency, Mr Saleh Dunoma, who gave the figures when he appeared before the House of Representatives Committee on Aviation said that the Authority proposed N101.67 billion in 2019 as […]