The Ghanaian Government on Wednesday announced the phasing out of fuel subsidy regime in its fiscal measures to ensure stability and efficiency in the operations of the downstream sub-sector of the nation’s oil and gas industry. The Chief Executive Officer of Ghana National Petroleum Authority (NPA), Mr. Mustapha Abdul-Hamid, who broke this news during a […]
The Japanese Government has announced plans to boost cooperation with Nigeria and other Sub-Saharan African (SSA) countries by investing about $30 billion in Nigeria and others between now and year 2025. The Japanese Ambassador to Nigeria, Mr. Matsunaga Kazuyoshi, made this disclosure at an event organized by the Japanese Embassy to commemorate the 63rd birthday […]
Indications that the lingering cash crunch didn’t really affect the general price level in Nigeria emerged on Tuesday as the National Bureau of Statistics (NBS) reported that the nation’s headline inflation rate still surged to 21.91% in February compared to the 21.82% rate reported in January 2023. The Bureau, in its ‘Consumer Price Index February […]
The International Air Transport Association (IATA), the umbrella body of airline operators globally, has put the amount of foreign airlines trapped in Nigeria at $737.7 million. The association in a letter signed by its Area Manager West and Central Africa, Dr. Samson Fatokun, addressed to Nigeria’s Minister of Aviation, Hadi Sidika, stated that the foreign […]
The Nigerian Ports Authority (NPA) has commended the leadership of the Maritime Workers Union of Nigeria (MWUN) for its commitment to the welfare of the workers, especially in ensuring increases in salaries of the employees. The NPA’s Managing Director, Mr. Mohammed Bello-Koko, who gave the commendation to the union in a statement issued on Tuesday, […]
President Muhammadu Buhari has urged the world’s developed countries to grant duty-free and quota-free market access for exports from the world’s 46-least developed countries (LDCs) in order to promote fairness and boost the global merchandize trade. Buhari, who was quoted as making the call in a statement by his media aide, Garba Shehu, during the […]
As the recent monetary policy measures of the Central Bank of Nigeria (CBN) and electioneering campaigns continue to constrain economic activities nationwide over the past few weeks, researchers at Proshare Nigeria Limited have projected that the nation’s Gross Domestic Product (GDP) will slow down to 2% in the first quarter this year. This is far […]
The National Association of Nigeria Travel Agencies (NANTA) has approached the Federal Competition and Consumer Protection Commission (FCCPC) for immediate intervention in the lingering complaints over the high fares being charged by foreign carriers and the closing of lower inventories to travel agents by the airlines. The association’s President, Mrs. Susan Akporiaye, led a team […]
Nigeria’s Vice President, Prof. Yemi Osinbajo, on Thursday expressed optimism that the new Gateway Agro Cargo International Airport, Iperu, Ogun State, would remarkably boost the nation’s economic growth, especially the non-oil sector as the government continues to intensify its diversification drive of the economy. Osinbajo, who made this remark during the maiden test flight of […]
The Society of Motor Manufacturers and Traders (SMMT) has reported that battery electric, plug-in hybrid and hybrid electric vehicle volumes were up 49.9% to 28,329 units, tallying with the current shift towards EVs, with electric car registrations continuing to rise in absolute numbers year on year. The UK car production slightly dropped in the first […]