Homenewseconomy

  • Local aviation risks collapse as only 38 of 90 airplanes are active

    • August 1, 2022
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    • 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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  • Interest rates: Five key questions facing the European Central Bank as it plans first increase in 11 years

    • July 20, 2022
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    • Category: Digital Economy, Economy, Latest News
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    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
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    • Category: Digital Economy, Economy, Latest News
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    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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  • Aviation Leaders Assemble in Doha for IATA’s 78th AGM

    • June 18, 2022
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    • Category: Latest News, Marine & Aviation, Tourism
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     The International Air Transport Association (IATA), announced that leaders of the global aviation industry are gathering in Doha, Qatar, for the 78th IATA Annual General Meeting (AGM) and World Air Transport Summit (WATS), with Qatar Airways as the host airline. The event (19-21 June) attracts the industry’s most senior leaders from among IATA’s 290 member

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  • Airlines Announce Shutdown May 9, As Aviation Fuel Hits N700 Per Litre.

    • May 6, 2022
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    • Category: Digital Economy, Economy, Energy, Latest News, Tourism
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    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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  • Fuel thieves caused inferno, collapse of high tension towers – TCN

    • December 25, 2021
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    • Category: Digital Economy, Economy, Energy, Latest News
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    The Transmission Company of Nigeria has said Friday’s inferno in Lagos that led to the collapse of five high tension towers was caused by petroleum products pipeline vandals. The inferno occurred at a vandalised pipeline on Isheri Olofin, off Igbando-LASU Expressway and it caused massive damage to the 330KV Ikeja-West Akangba Transmission Line 1. TCN’s

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  • Omicron: FG To Ban Flights From UK, Canada, Saudi Arabia, Argentina

    • December 12, 2021
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    • Category: Economy, Latest News, Marine & Aviation, Tourism
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    The Federal Government is set to ban flights from the United Kingdom, Canada, Argentina and Saudi Arabia in retaliation against their decisions to have included Nigeria in red list countries. Minister of Aviation, Hadi Sirika, who disclosed this on Sunday revealed on stated that the ban on the three nations would be announced on Monday

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  • Buhari jets to Dubai for EXPO 2020

    • December 1, 2021
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    • Category: Economy, Energy, Health, Latest News, Tourism
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    The President Muhammadu Buhari, has departed Abuja on Wednesday to attend EXPO 2020 Dubai in the United Arab Emirates. This came hours after receiving the South African President, Cyril Ramaphosa, at the State House, Abuja, where he signed Memoranda of Understanding on youth development and launched the Nigeria-South Africa youth dialogue. Special Adviser to the

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  • EU threatening to reject Nigeria’s cocoa, say farmers

    • November 25, 2021
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    • Category: Agriculture, Economy, Latest News
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    The European Union has reportedly threatened to reject cocoa produced in Nigeria from next year due to a fall in the commodity’s quality, the Cocoa Farmers Association of Nigeria has said. President of the association, Adeola Adegoke, told journalists at a press conference in Abuja on Tuesday that cocoa farmers were currently apprehensive over the

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  • Obiano commissions Anambra International Airport as NCAA fails to approve maiden flight

    • October 31, 2021
    • Posted by: admin
    • Category: Economy, Latest News, Marine & Aviation, Tourism
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    Governor Willie Obiano of Anambra State, Friday reportedly commissioned the Anambra International Passenger and Cargo Airport, Umueri, for commercial use amidst fanfare by indigenes of the state. This came as the aviation regulatory authority, Nigeria Civil Aviation Authority (NCAA), failed to approve the take-off of two commercial flights that were billed to land at the

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