Business news
The African Development Bank on Tuesday declared that too many old and inefficient airplanes were flying around the continent. According to the bank, Africa is the riskiest of skies to fly in, as the continent accounts for only 3.4 per cent of all flight departures, represents over nine per cent of all air accidents, and […]
The Nigerian Electricity Regulatory Commission on Tuesday rejected the notice of declaration of force majeure that was recently issued to the Federal Government by the 10 electricity distribution companies in the country. It also stated that it had commenced immediate regulatory measures to protect the electricity market from potentially collapsing as a result of the […]
The Governor, Central Bank of Nigeria, Mr. Godwin Emefiele, on Tuesday said that the intervention of the apex bank and the Nigerian Communications Commission in the 9mobile loan repayment saga, was due to the systemic importance of the company. He stated this while responding to questions from journalists shortly after the two-day Monetary Policy Committee […]
The House of Representatives on Tuesday queried the viability of further expenditure on the country’s four refineries and the daily allocation of 445,000 barrels of crude to the facilities. It queried a fresh bid by the Nigerian National Petroleum Corporation to spend $1.8bn on the Turn Around Maintenance of the refineries located in Port Harcourt, […]