President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has warned that another 39 million people in the continent could fall into poverty at the end of this year. Adesina stated this at the ongoing virtual Africa Singapore Business Forum. He said the 39 million people could pass on as an added number to…
The CBN now accuses the companies of engaging in “illicit forex transactions”. A federal high court in Abuja has ordered the freezing of the accounts of six online investment firms following a request by the Central Bank of Nigeria. The accounts will remain blocked for 180 days, The Cable reported Tuesday. The firms are Bamboo Systems…
Nigeria’s insistence to keep petrol prices artificially low is threatening to exacerbate its already precarious economic situation, as the expensive practice consumed N608.8 billion in the first six months of 2021. Soaring prices of petrol have put Nigeria in a rattrap situation. The Federal Government is struggling to sustain subsidy payments as crude oil prices
Green Africa, Nigeria’s Lagos-based value airline has announced that it will start its first official flight Thursday, 12th August 2021. This is as the airline received its Air Operator Certificate from the Nigerian Civil Aviation Authority (NCAA) on Monday, 9th August 2021. Following the successful completion of all five phases of the AOC application process,…
Establishments in Abuja have lamented the N100, 000 emission permit levied on business operators by the Abuja Municipal Area Council for the emission of gas from generators and other heavy duty machines. They described the levy as outrageous and capable of sending them out of business. In a letter that has gone viral on the…
Lagos has become Africa’s top startup ecosystem. The city ranked 122nd globally, effectively switching places with Nairobi, Kenya, which now ranks 136th globally. This is according to the recently released StartupBlink Ecosystem Index Report 2021 In general, the top two startup ecosystems in the world remain the same as they were last year – San Francisco and…
Global aviation experts have expressed deep concern over the extreme complexities of technological advancement which they fear may lead to a very turbulent future for the industry especially in Nigeria and other African countries. At a one-day virtual workshop on ‘Global Megatrends and Impact on Aviation’ presented by the Nigerian Civil Aviation Authority (NCAA) and the…
Shell, the multinational oil giant have decided to withdraw from Nigeria’s Onshore oil sector. Van Beurden has said that his organization was in talks with the Nigerian government to work out how to terminate its Onshore licenses. He made this disclosure at Shell’s annual general meeting on Tuesday. Van Beurden said that Niger Delta oil…
