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Local aviation risks collapse as only 38 of 90 airplanes are active
- August 1, 2022
- Posted by: admin
- Category: Economy, Latest News, Marine & Aviation, Tourism
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Beyond the withdrawal of services by two scheduled carriers, the entire local aviation sector may be in for a shutdown of operations over steady loss of fleet capacity that has made schedule reliability near impossible. Findings by The Guardian showed that the eight active airlines are operating a cumulative 38.77 per cent fleet capacity, with
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Domestic Airlines Increase Airfares.
- July 30, 2022
- Posted by: admin
- Category: Digital Economy, Economy, Latest News, Marine & Aviation, Tourism
Nigeria airlines have increased fares for domestic flights to at least N80,000 depending on the trip over the rising cost of aviation fuel and foreign exchange (FX) crisis. Checks by TheCable on Friday showed that Azman Air flight from Lagos to Kano/Kaduna increased from about N60,000 to N100,000. Air Peace also increased fares to N80,000 for flights
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FG set To Lease Three Aircraft To Commence Flight Operations
- July 27, 2022
- Posted by: admin
- Category: Economy, Latest News, Marine & Aviation, Tourism
The hope for a new national carrier, Nigeria Air, brightens on Wednesday as the Federal Government approved the leasing of three aircraft. The three aircraft are made by Airbus and Boeing. Minister of Aviation, Senator Hadi Sirika, made the disclosure while briefing journalists after the Federal Executive Council (FEC). The FEC meeting was chaired by
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Interest rates: Five key questions facing the European Central Bank as it plans first increase in 11 years
- July 20, 2022
- Posted by: admin
- Category: Digital Economy, Economy, Latest News
The European Central Bank is reportedly set to deliver its first interest rate hike since 2011 this week, yet markets are already fast-forwarding to focus on the path for higher rates beyond Thursday as economic prospects darken. That outlook is getting murkier by the day because inflation is still accelerating and growth slowing sharply. “The
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CBN Raises Interest Rate To 14%, Second Time In 2022
- July 19, 2022
- Posted by: admin
- Category: Digital Economy, Economy, Latest News
For the second time this year, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has once again raised the benchmark interest rate to 14 per cent from 13 per cent to curtail the rising inflation..In June, Nigeria’s inflation rate reached a five-year high at 18.60 percent. The monetary policy rate (MPR)
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Aero Contractors to Suspend Operations July 20
- July 19, 2022
- Posted by: admin
- Category: Economy, Latest News, Marine & Aviation, Tourism
One of the leading airline operators in Nigeria, Aero Contractors, had reportedly announced the indefinite suspension of its operations, citing the rising cost of maintenance, inflation and foreign exchange (FX) scarcity, amongst others as the reason for its action. In a statement issued on Monday, the company, which is the oldest airline in the country,
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AIO Named Kenya’s Dr Ben Kajwang As President, Released Dates For 26th African Reinsurance Forum
- July 19, 2022
- Posted by: admin
- Category: Economy, Insurance & Pensions, Latest News, Marine & Aviation, Tourism
Dr Ben Kajwang, Director at the College of Insurance had recently been namedthe President of the African Insurance Organisation (AIO) at the just concluded 48th AIO Conference and Annual General Assembly held at theEdge Convention Centre in Nairobi. Dr Kajwang is the immediate past Vice President, and he took overfrom Mr Tope Smart, the Group
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FEC approves projects to improve power supply in Nigeria
- June 30, 2022
- Posted by: admin
- Category: Economy, Energy, Latest News
The Federal Executive Council (FEC) has approved projects to shore up power supply across the country. Minister of Power, Abubakar Aliyu, announced this after the Federal Executive Council (FEC) meeting, presided by Vice President Yemi Osinbajo on Wednesday at the Presidential Villa, Abuja. Mr Aliyu said the projects were aimed at strengthening the capacity of
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Airlines Announce Shutdown May 9, As Aviation Fuel Hits N700 Per Litre.
- May 6, 2022
- Posted by: admin
- Category: Digital Economy, Economy, Energy, Latest News, Tourism
The Airline Operators of Nigeria (AON) has announced the shutdown of operations after aviation fuel reached an all-time high of N700 per litre. Airline operations will be shut down across the country from Monday May 9, due to the skyrocketing cost of aviation fuel. AON sympathized with passengers, adding that the current situation with Jet
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New UK Visa Exempts Graduates From Nigerian Universities.
- May 6, 2022
- Posted by: admin
- Category: Economy, Education, Latest News, Tourism
The United Kingdom is set to begin issuance of a new visa that allows holders of first degrees, masters, and doctorates to travel to the country and work in fields such as science, technology, innovation, and entrepreneurship by May 30. The visa – high potential individual visa, allows applicants to relocate to the UK without