News Reports

Minister of Finance, Kemi Adeosun

Nigeria’s debt to top 24% of GDP by 2018 — IMF

Nigeria ended 2016 with a debt to GDP ratio of 18.6 per cent.

Minister of Finance, Kemi Adeosun

Nigerian economy maintains recovery path – Presidency

“Headline inflation fell for the third month in a row to 17.24 per cent.”

Godwin Emefiele, CBN Governor

Nigeria retains 14% lending rate

The rate was retained for sixth consecutive time.

Naira Notes

Despite govt’s assurances, Nigerian economy still in recession – Report

Nigeria’s GDP contracted by 0.52 per cent in the first quarter of 2017.

Medview Airline

Nigeria civil aviation agency holds talk with EU to resolve Medview ban

Medview Airline was last week banned from operating within the airspace of the European Union.

Map of Africa

IMF prescribes options for economic growth in Sub Saharan African countries

According to the bank, sub-Saharan economic growth hit only 1.4 percent last year, the lowest level in two decades.

Central bank of Nigeria

Nigerian manufacturers want Central Bank to reduce lending rate

The CBN has maintained a 14 per cent lending rate to commercial banks since July 26, 2016.

Ethiopian Airlines

Nigeria warns Ethiopian Airlines: Stop collecting unauthorised charges

The unauthorised charges referred to as “refundable deportation fee” is put at between $75 and $150.

OPEC [PHOTO CREDIT: Zero Hedge]

OPEC considers nine-month extension in output cut

Saudi Arabia and Russia have agreed on the need to prolong the current cuts until March 2018.
Pix: OPEC meeting

Oil-Rig-thumb-610x335-70289

PENGASSAN strike: Oil workers ‘suspend strike in Rivers’

An official says the strike continues across the country.

Ahmed Kuru, Managing Director, Asset Management Corporation of Nigeria (AMCON)
[Photo: Tadall]

AMCON takes over company’s asset over Wokson N5 billion debt

A court ordered the takeover.

Dollars

‘Forex shortages forced Nigerians to consume local products’

Nigeria’s inflation slowed for a third month in April, put at 17.2 percent.

Hon. Minister of Power, Works & Housing, Mr Babatunde Fashola, SAN(middle), the Minister of State in the Ministry, Hon. Mustapha Baba Shehuri (left) and Deputy Managing Director, Ibadan Electricity  Distribution  Company Plc  (IBEDC) , Engr. John Ayodele (left) inspecting the IBEDC’s  Control Room  during the 12th Monthly Meeting with Sectoral Participants in the Power Sector hosted by IBEDC Plc  at the Olorunsogo Injection Substation, Akanran, Lagos-Ibadan Expressway, Ibadan, Oyo State on Monday 13th, February 2017.

Nigerian electricity consumers free to get direct supply from generation companies – Fashola

The Association of Nigerian Electricity Distributors has condemned the plan.

Nigerian Port Authority, Apapa Lagos[Photo Credit:Logbaby]

Osinbajo orders 24-hour operations at Apapa Port

The acting president signs an executive order directing instant removal and prosecution of bribe takers at sea and airports.

Medview Airline

UPDATED: Nigerian airline, Medview, banned by European Commission

The company says its London operation is not affected.

MTN

More trouble for MTN as Rwanda fines telecom company $8.5 million

In October 2015, Nigeria fined the company N1.4 trillion for failure to disconnect unregistered sim cards.

Nahco-Aviance

Nigerian Aviation Handling Company MD resigns

Mr. Bielderman joined Nahco in 2010.

Fuel station

Nigerian govt to keep petrol price at N145 per litre

But the government says the NNPC needs to run as a business.

Airport tower [Photo: CityMetric]

NAMA to step up digitisation of aeronautical services

The NAMA helmsman lauded staff of the AIS department for their diligence, hard work and dedication to duty.

baskets of tomatoes [Photo: Daily Post]

Prices of rice, tomatoes, yam decrease in April – NBS

The price, however, went up compared to last year.

AITEO Group

Nigerian energy firm Aiteo gets new Group Advisor

The new advisor is from Montenegro.

NCC warns telecom operators on ‘ransomware’ cyber-attack

The “wannacry” attack has affected more than 200,000 computers in over 200 countries.

NNPC TOWERS

NNPC spends N1.6 billion on repair of Kaduna-Kano pipeline

“These are funds that would have been invested for providing other essential services.”

Minister of Finance, Kemi Adeosun

“Nigeria is coming out of recession” – Adeosun

The minister also said the federal government is working to block wastages and increase GDP.

Naira Notes

JUST IN: Again, Nigeria inflation declines

Inflation declined to 17.24 per cent in April — the third consecutive monthly fall.