Fakoyejo Olalekan

Nigeria Blocks $802 million Revenue Belonging To Foreign Airlines

Foreign Airlines’ Trapped Funds In Nigeria Up $14 million In Two Months – IATA

The International Air Transportation Association (IATA) said it is disappointed at the Nigerian government over the repatriation issue foreign airlines are experiencing in the country. IATA said due to foreign airlines inability to repatriate their funds, the total amounts the international companies

August 19, 2022

Business

Nigeria Spends N18.39 billion On Fuel Subsidy Daily – Finance Minister, Zainab Ahmed

The Minister of Finance, Budget and National Planning, Zainab Ahmed, has disclosed that the Federal Government spent N283 per litre of Premium Motor Spirit (PMS) as fuel subsidy. This means Nigerian government spends N18.397 billion per day on fuel subsidy to keep

August 18, 2022

Business

FG Issues 3-year Forecast For Naira, Dollar Rate As BDC Operators Sell At N680

The Federal Government has projected that the United States currency, dollar, will exchange in naira at a rate of N435.57 next year, as the naira remains weak in the black market. This indicates the devaluation of Nigeria’s currency will continue into 2023,

August 18, 2022

CBN Places Service Restriction On PoS Agents Across Nigeria

Business

Nigeria’s Central Bank Reverses COVID-19 Loan Interest To 9%

The Central Bank of Nigeria (CBN) has reversed the interest rate on intervention loan extended towards small, medium and large scale companies to alleviate COVID-19 impact on their operation. CBN restored the interest rate to 9 percent, having issued the loan on

August 18, 2022

Business

Reps To Probe Ministry of Agriculture Over N18.6bn Spent To Clear Bush, Prepare Land

House of Representatives have summoned some companies to provide answers, as the lawmakers probe the Federal Ministry of Agriculture and Rural Development’s expenses. The lawmakers disclosed that the Federal Ministry of Agriculture and Rural Development’s spent N18.6 billion on bush clearing and

August 18, 2022

Business·World News

$600 million Trapped: Emirates Airlines Warns Nigerian Govt, Plans To End Flight Operations

Emirates Airlines have given Nigerian government a condition to resolve the company’s inability to access its foreign exchange or the firm will end its operation in the country. The Dubai firm’s $85 million foreign currency is trapped in Nigeria, as the Central

August 18, 2022

Buhari Mourns Isaac Sagay, Former Nigeria’s Ambassador To The Holy See

Business

Electricity Workers Snub Buhari’s Minister, Shut Down Nigeria’s Power Plants

Electricity workers have began industrial action in some areas in Nigeria, resulting to the national grid collapsing to 762.30MW, after the workers shutdown some power plant. Prime Business Africa had reported earlier today that the workers under the umbrella of National Union

August 17, 2022

Business·World News

UK Inflation Trails Nigeria’s Rate As Food Prices Worsen Cost Of Living

The Office for National Statistics in the United Kingdom revealed that UK inflation rate hit 10.1% in July, the same month Nigeria recorded 19.64% rate, with food prices rising in both countries. While Nigeria’s inflation rate is the highest in 17 years,

August 17, 2022

Business

Lagos-Abuja Flight Ticket Hits N200,000, As Aviation Fuel Rises To N903

Interstate flight tickets have skyrocketed across Nigeria as Aviation fuel, also known as JET A1, rose to N903. This has forced domestic Airlines to raise their ticket price to meet rising cost of operation. In the first half of 2022, aviation fuel

August 17, 2022

Business

Elon Musk Reveals Why He Might Buy $2.17 billion-worth Manchester United

Amid his struggle to terminate the acquisition of social media company, Twitter, the world’s richest man, Elon Musk, has hinted he would buy Manchester United if he decides to invest in a sport club. Musk said his love for Manchester United, a

August 17, 2022

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Fakoyejo Olalekan

Foreign Airlines’ Trapped Funds In Nigeria Up $14 million In Two Months – IATA

Nigeria Spends N18.39 billion On Fuel Subsidy Daily – Finance Minister, Zainab Ahmed

FG Issues 3-year Forecast For Naira, Dollar Rate As BDC Operators Sell At N680

Nigeria’s Central Bank Reverses COVID-19 Loan Interest To 9%

Reps To Probe Ministry of Agriculture Over N18.6bn Spent To Clear Bush, Prepare Land

$600 million Trapped: Emirates Airlines Warns Nigerian Govt, Plans To End Flight Operations

Electricity Workers Snub Buhari’s Minister, Shut Down Nigeria’s Power Plants

UK Inflation Trails Nigeria’s Rate As Food Prices Worsen Cost Of Living

Lagos-Abuja Flight Ticket Hits N200,000, As Aviation Fuel Rises To N903

Elon Musk Reveals Why He Might Buy $2.17 billion-worth Manchester United

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