Business news
Dana Air and Asky airline, Africa’s regional power house, has in Lagos, reached an interline agreement for strategic partnership. Dana Air’s strategic route and fleet expansion program also received a major boost, with the signing of an aircraft partnership agreement with the airline to add some new generation aircraft to its fleet Speaking during a […]
The Nigerian Air Traffic Controllers’ Association(NATCA) has won the bid to host the forthcoming Africa and Middle East Regional meeting of International Federation of Air Traffic Controllers Association (IFATCA). Nigeria emerged the host after defeating Algeria, which equally indicated interest to host the annual conference in its country. It would be the second time that […]
The Managing Director of the Nigerian Airspace Management Agency (NAMA), Capt Fola Akinkuotu has commended the ingenuity of women engineers in the country in ensuring stability in the system. Speaking at the investiture of Engr. Mrs. Felicia Nnenna Agubata as the 15th President of the Association of Professional Women Engineers of Nigeria (APWEN), Akinkuotu described […]
Fluctuations in the exchange rate of the naira to the United States dollar, vandalism of gas pipelines and violence in parts of the country are preventing the sale of 10 electricity generation plants under the National Integrated Power Projects. It was also gathered that about $2.7bn profit that would have accrued to the three tiers […]
Many workers who are retiring under the Contributory Pension Scheme are either unable to get their pensions or earning ridiculously low stipends because the government has been inconsistent with the remittance of its deductions into their Retirement Savings Accounts, NIKE POPOOLA writes Four years after the Pension Reform Act was amended and employers mandated to […]
The Central Bank of Nigeria has stopped the payment of dividends to shareholders by Deposit Money Banks and discount houses with huge bad loans and low capital base. This is due to the rising non-performing loans and the need to stop further erosion of the capital base of the banks and discount houses. The directive […]
The House of Representatives is unhappy over the lingering scarcity of petrol in the country and has asked the Executive to submit a N800bn supplementary budget to the National Assembly to offset the debts allegedly owed fuel marketers. The House Committee on Petroleum Resources (Downstream) stated in Abuja on Sunday that if offsetting the debts […]
The Standards Organisation of Nigeria has embarked on a nationwide mopping up of substandard tyres with the aim of destroying them in an operation it code named, ‘Operation Gbale’. The Director, Inspectorate and Enforcement, SON, Mr. Bede Obayi, disclosed this to journalists on Friday during the destruction of over N5bn worth of seized tyres, which […]
Dangote Cement Plc, owned by Africa’s richest man, Aliko Dangote, has revived plans for a share sale in London that could raise about $1bn, according to people familiar with the matter. The Nigerian company approached investment bankers to discuss a potential United Kingdom listing, according to the people, who asked not to be named as […]
The World Bank has approved an International Development Association credit of $486m for the rehabilitation and upgrading of Nigeria’s electricity transmission substations and lines. The bank, which disclosed this in a statement made available to our correspondent in Abuja on Friday, said the approval was given in Washington on Thursday. According to the bank, the […]