Business

The Minister of Aviation and Aerospace Development, Festus Keyamo, has set up a five-member taskforce to look into the challenges faced by foreign airlines and their passengers after their relocation to the new terminal at the Murtala Mohammed International Airport,Lagos. The Federal Government had on Thursday redirected flight operations and passenger processing to the airport terminal 2 following a fire …

The International Monetary Fund (IMF) has raised an alarm over the ongoing war between Israel and Hamas Islamist militants, comparing it to “a new cloud on not-the-sunniest horizon for the world economy.” IMF Managing Director Kristalina Georgieva, who raised the concerns at the current session of the IMF and World Bank meeting in Marrakesh, Morocco, on Thursday, said the conflict …

Federal Government in collaboration with African Union Commission (AUC), and Pan-African Quality Infrastructure (PAQI), in conjunction with Comprehensive African Agricultural Development Programme, (CAADP) are set to hold the maiden Africa Cassava Conference to boost productivity along the value chain towards achieving food security. The conference is to boost Intra-African Trade, BIAT, and the African Continental Free Trade Area (AfCFTA) objectives. …

The Nigerian Exchange Limited (NGX) reported that the stock market recorded N45.450 billion investments between Monday to Friday this week after investors traded 2.644 billion shares in 44,189 deals. According to the NGX, the investments overshot the N32.816 billion traded the week before for 2.510 billion shares in 40,736 deals. Top NGX performing sector With over 1.587 billion shares, worth …

Zenith Bank Plc has signed a Memorandum of Understanding with the African Continental Free Trade Area Secretariat for the development of the SMARTAfCFTA Portal, for trade promotion within the African continent. The bank said in a statement that, the SMARTAfCFTA Portal had the capacity to provide information like trade indicators, market trends, custom tariffs, trade agreements, rules of origin, and …

Affordable and reliable energy provides the right platform for businesses in Africa to create and retain jobs for its fast growing population and further make the Continent sustainable. Access to energy and energy security remains critical for the Continent, and Africa needs “affordable, reliable, sustainable and modern electricity for all” to drive the realization of United Nations Sustainable Development Goals …

The National Oil Spills Detection and Response Agency (NOSDRA) on Sunday confirmed the loss of 3,000 barrels of crude oil in the November 15 oil spill in Egina Floating Production Storage and Offloading (FPSO) vessel of TotalEnergies. The FPSO located 130 kilometres off the Atlantic coastline from Port Harcourt has the capacity to produce 200,000 barrels of crude daily and …

Telecommunication firms are considering a repayment plan proposed by Deposit Money Banks to end the N120bn debt on the Unstructured Supplementary Service Data service, A source said the Central Bank of Nigeria was intervening in the dispute, and planned a meeting with both parties. According to a source in the Association of Licensed Telecommunications Operators of Nigeria, the umbrella body …

Leading Nigerian carrier, Air Peace, has said its operations into the Togolese capital will ease the hitherto difficulties passengers go through while connecting flights within the West Africa sub-region. Speaking during the launch of the flight into Lome, the airline Safety Manager, Capt. Godfrey Ogbogu disclosed that the latest route increased Air Peace regional routes to eight in less than …

The Chairman of the Presidential Fiscal Policy and Tax Reforms, Mr Taiwo Oyedele, on Tuesday disclosed that the administration of President Bola Tinubu was working to reduce taxes from the current 62 to a maximum of nine, to create a more business-friendly environment in the country. Oyedele, disclosed this at the 2023 annual conference of Institute of Chartered Accountants of …