Flights at the Murtala Muhammed International Airport in Lagos state were grounded on Monday as staff members of the Nigerian Aviation Handling Company Plc (NAHCO) embarked on an industrial action over salary increment. Passengers at the airport are stranded and frustrated as moved around the premises. Many of the passengers protested over the situation. As a result, Qatar Airways made …

The latest prediction of the International Monetary Fund (IMF) that a third of the global economy will enter another recession in 2023 is unsettling news for Nigeria’s economy, which has consistently wasted chances to achieve growth and sustainable development. The World Bank has also decreased its projection for numerous regions. It estimates the rise in per capita income in sub-Saharan …

The Federal Government has approved N2.3 billion for the local assemblage of Magnus training aircraft. The project will be carried out at the Nigerian College of Aviation Technology (NCAT), Zaria in Kaduna State. The Minister of Aviation, Hadi Sirika in Abuja that the Nigerian aviation industry would soon move into the local manufacturing of aircraft. He said that Nigeria would …

Rivers State Governor, Barrister Nyesom Wike has donated N200 million to traders affected by the ongoing remodeling works at the Ariaria International Market, Aba, Abia State. While inspecting the progress of works at the A-Line section of the market on Saturday, Abia State Governor, Dr Okezie Ikpeazu said that his Rivers State counterpart expressed his sympathy and support to the …

With nine days to the deadline for the easing out of the old Naira notes in place of the redesigned ones, the Central Bank of Nigeria (CBN) has said that it would launch a cash swap programme on Monday. According to the regulatory bank, the programme would enable the rural population and those with limited access to formal financial services …

The Federal Government has denied issuing any orders to marketers to raise the pump price of petrol from N180 per litre to N195. This denial was made a day after petrol prices were increased by retailers in response to a memo from the Federal Government-owned NNPC Retails Limited. Despite the hike in rate, the queues are still seen at petrol …

The Transmission Company of Nigeria (TCN) reported on Thursday that eight power transformers supported by the World Bank through the Nigeria Electricity Transmission and Access Project (NETAP) arrived at Apapa Ports in Lagos. NETAP is an initiative of the Federal Government and its partners with the objective to increase the evacuation capacity of the transmission network in Nigeria. TCN’s General …

Officially, the price of petrol is now N185 per litre, up from N170/litre. The increase takes immediate effect. In the new price regime, the ex-depot price also shot up from N148/litre to N167. But the product – officially known as Premium Motor Spirits (PMS) – has largelly been sold for between N200/litre and N300, and even much more in most …

The Federal Government may start a gradual removal of the petrol subsidy from April 2023, about three months ahead of the preliminary schedule to effect a complete stop to the expenditure head. During an interview with Arise TV on the sidelines of the World Economic Forum in Davos, Switzerland, the Minister of Finance, Budget, and National Planning, Mrs Zainab Ahmed …

TotalEnergies has approved the final investment decision of the Lapa South-West oil development located in the Santos Basin, 300 km off the coast of Brazil. TotalEnergies operates the project with a 45 percent interest, in partnership with Shell (30 percent) and Repsol Sinopec (25 percent). Lapa South-West will be developed through three wells, connected to the existing Lapa FPSO located …