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Business news

Day: September 14, 2018

FAAN Reopens Abuja Airport After Pulling Out SkyBird Aircraft That Overshoot Runway

The Federal Airports Authority of Nigeria (FAAN) said it has reopened the Runway 22, Nnamdi Azikiwe International Airport, Abuja for operations after pulling out the Gulfstream 4 aircraft that skidded of the runway. Recalled that the runway was partially closed for operations following the incident involving a Gulfstream 4 aircraft belonging to SkyBird at the […]

NAMA Insists TRACON Facility Is In Order

  The Nigerian Airspace Management Agency (NAMA) has refuted reports about impending collapse of the Total Radar Coverage of Nigeria (TRACON), saying the project is optimally working. NAMA also said that spare parts for the facility are regularly sourced from the manufacturer, Thales of France whenever required. A statement by Mr. Khalid Emele, the General […]

AfDB approves $15m equity fund for SMEs

The Board of Directors of the African Development Bank has approved a $15 million equity investment in Verod Capital Growth Fund III, a private equity fund that will make investments in high growth middle market companies in Anglophone West Africa including Nigeria, Ghana, Liberia, Sierra Leone and the Gambia. The Fund’s investments will be in […]

Nescafe pays N15m to promo winners

Nestle Nigeria Plc has rewarded consumers with  N15 million in its ‘NESCAFE get started’ promotion. Three lucky consumers won N1million, while others won in the categories of N500, 00 0, N250, 000 and consolation prizes of N100, 000. One of the winners, an Abuja-based trader, Mrs. Olabisi Arogundade, said her daughter used her phone to […]

Minister: foreign investors want banks to invest in mining

Minister of State, Ministry of Mines and Steel Development Mr. Abubakar Bwari has  joined foreign investors to appeal to  banks to invest in mining. He made this known while declaring open the first Nigeria Metallurgical Industry Stakeholders’ Forum (MISF) held in Abuja. The theme of the forum was: “Nigeria’s economic and industrial development through value […]

Forex earnings from cashew threatened

NIGERIA’s hope of exceeding earnings of $402 million from cashew exports this year is being threatened, National President, Federation of Agricultural Commodity Association of Nigeria, Dr Victor Iyama, has said. Iyama said this was due to the plummeting of international prices and reduced demand for Nigeria’s cashew following massive production from other producers. He said […]