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Nigeria Loses 20% Passenger Traffic Over Emirates, Etihad Exit

The suspension of Emirates Airlines and Etihad’s withdrawal from Nigerian airspace has cost the country, at least, a 20 per cent decline in international passenger traffic. The Guardian learned [...]

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SEC Unveils New Rules On Commodity Trading

To ensure a vibrant commodities trading ecosystem, the Securities and Exchange Commission (SEC) has unveiled new rules on warehousing, collateral management, and other requirements. According to [...]

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Customs Propose Ban On Vehicles Above Seven Years

The House of Representatives’ Committee on Customs and Excise has proposed a revenue target of N1.56tn for the Nigeria Customs Service in 2021, up from the original N1.4tn proposition. The amount [...]

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NNPC, Others Sign Agreements For Methanol, Gas Projects

The Nigerian National Petroleum Corporation, the Nigerian Content Development and Monitoring Board, Brass Fertilizer and Petrochemical Company Limited and DSV Engineering have signed two key [...]

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Senate Demands Details Of $1.5bn, €995m Agriculture Loans

The Senate Committee on Local and Foreign Debts on Tuesday asked the ministries of Agriculture, Finance and the Debt Management Office to provide details of the €995m and the $1.5bn foreign [...]

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Nigeria’s Food Imports Hit N1.89tn Annually – FG

Nigeria currently spends about N1.89tn annually on the importation of food, the Federal Government said on Tuesday. Minister of Agriculture and Rural Development, Sabo Nanono, said this in Abuja [...]

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CBN Urges Banks To Reduce Non-Performing Loans

The Central Bank of Nigeria has urged banks to bring down the sector’s non-performing loans below five per cent, which is the prudential benchmark. It noted that the current ratio of 6.3 per cent [...]

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FG To Auction Bitumen Blocs In Third Quarter

The Federal Government is working towards auctioning its bitumen blocs in the third quarter of this year, the Minister of Mines and Steel Development, Olamilekan Adegbite, announced on Tuesday. [...]

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Lagos Accounts For 12.15% As States Debts Hit N4.2tn

The total states and Federal Capital Territory domestic debt profile hit N4.2tn with Lagos State accounting for 12.15 per cent of the debt stock as of the end of 2020. According to the report by [...]

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Lagos Restricts Movement Along Teslim Balogun Stadium

The Lagos State Government has prohibited vehicular movement around the Teslim Balogun Stadium from 10am to 10pm on Tuesday, March 30, 2021 for the live football match between the Super Eagles [...]