Bilateral relations and trade between Israel and Nigeria will rise with the commencement of direct flights between both countries as from March, Israeli authorities have said. The Deputy Director General of the African Department in the Israeli Ministry of Foreign Affairs, Ms Sharon Bar-Li, said this while meeting with some Nigerian journalists on a media tour yesterday in Jerusalem. Bar-Li …

The Nigerian National Petroleum Corporation Plc (NNPC) deducted over N3.3 trillion from January to November, last year to pay for fuel subsidy. The deductions were made from revenue the NNPC was supposed to remit to the Federation Account. This is contained in the Federation Account Allocation Committee (FAAC) Post-Mortem Sub-Committee (PMSC) report presented to FAAC on Tuesday in Abuja. The …

Keeping in step with the new frontiers being created in the travel industry, Wakanow has restructured to function as a Group entity. In line with that, the Board of Directors and Management of Wakanow Group has appointed Mr Adebayo Adedeji as the Group Chief Executive Officer and Mrs Adenike Macaulay as Chief Executive Officer of Wakanow Nigeria effective January 2023. At …

A former Minister of Solid Minerals, Dr Oby Ezekwesili has said that the presidential candidate of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar was not the Head of the Economic Management Team (EMT) during the period he was deputy to President Olusegun Obasanjo. Obasanjo was president between 1999 and 2007, while Atiku served as vice president. Ezekwesili was Minister …

The Bank of Industry has announced that the World Bank has approved its nomination as a provider of the Micro, Small and Medium Enterprises (MSME) component of NG-CARES (RA3) nationwide. In a statement titled, ‘Clarification of the Nigeria COVID-19 Action Recovery and Economic Stimulus programme’, BoI said that the development was based on its successful track record of building field …

The Federal Government said on Monday that the licensing process for seven deep offshore open oil blocs, which began on 3rd January will last for four months. It welcomed investors with expertise and experience in deep water operations from across the world to accept the financial terms of the Petroleum Industry Act 2021 and participate in the bidding for the …

The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele resumed duty on Monday after his annual vacation abroad, according to a statement by the apex bank’s Director of Corporate Communication, Mr Osita Nwanisobi. Since his absence from the public view last month, there have been speculations about his status as the No 1 banker, including allegations of …

For the first time in 11 months, inflation dipped to 21.34 per cent in Nigeria, according to the National Bureau of Statistics (NBS). The inflation rate has been on a steady rise in from January to November, last year, but dropped to 21.34 per cent in December as against 21.47 per cent in November. The NBS report said that food inflation …

Dangote Group, a leading business conglomerate on the African continent, has denied wide reports that the commission date for its refinery has been set. Several media outlets had reported that the Dangote refinery would commence operations on 24th January. However, according to Timilehin Oyedare of Dangote Group’s Digital Communications Unit, Corporate Communications said that the quoted source in the reports are fake …

The International Monetary Fund (IMF) has reiterated its commitment to tackling food crisis and payment challenges facing the global economy. Its Managing Director, Ms. Kristalina Georgieva, stated this after the IMF’s Executive Board approved a new Food Shock Window under its emergency financing instruments, the Rapid Credit Facility and Rapid Financing Instrument. “The new financing window will provide additional access …