Business

Airfare hurdles await domestic travellers this festive season as local airlines have again doubled airfares on high-traffic seasonal routes.

Aviation Safety Round Table Initiative (ASRTI), a think-tank group of the local sector, yesterday, bemoaned the protracted era of multiple charges in the air transport sector.

Murtala Muhammed Airport terminal II (MMA2) is a classic case of the self-contradictions inherent in local business enterprises.

The immediate past president of the Lagos Chamber of Commerce and Industry (LCCI), Dr Michael Olawale-Cole, yesterday, lamented the high level of default under the Central Bank of Nigeria (CBN) Anchor Borrowers Programme (ABP), saying over 60 per cent of beneficiaries defaulted on repayment.

Industrial actions in Nigeria’s public tertiary institutions have profound and multifaceted effects on the educational system, students, faculty and the overall socio-economic landscape.

In the realm of advertising, standing out amidst a sea of creative brilliance is an achievement pursued by many but attained by the truly exceptional.

The Investment and Securities Tribunal (IST) has fixed December 15 for hearing on the application filed by the estate of late Abubakar Garba Gobir against the Director General of the Securities and Exchange Commission (SEC) for disobeying a court order.

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) said it is high time Nigeria embarked on a journey of rebirth and reorientation as a country to tackle the numerous challenges facing it.

Lagos State Governor, Babajide Sanwo-Olu, said the creative sector has the potential to create 2.7 million jobs by 2025.

Baobab Nigeria has launched its Girl Child Education Scholarship Programme, advocating educational inclusivity by awarding scholarships to deserving female students.

The Compliance Institute, Nigeria (CIN) said that the urgent passage of its charter bill would enhance Nigeria’s efforts to address deficiencies that led to the ‘grey listing’ of Nigeria by the Financial Action Task Force (FATF).

The Coca-Cola Foundation provided FATE Foundation with a grant award in support of the Orange Corners Nigeria (OCN) Programs. The Orange Corners Nigeria is an Initiative of the Kingdom of The Netherlands launched in Nigeria in 2019 with the support of the Consulate General of the Kingdom of Netherlands in Lagos.

The Nigeria Interbank Settlement System (NIBSS) has called for the disconnection of switching companies, payment solution service providers (PSSPs) and super agents (SAs) from the instant payment outwards system

The Director-General of the Securities and Exchange Commission (SEC), Lamido Yuguda, said the Islamic finance segment of the financial industry reached an estimated $2.9 billion as at the end of 2022 with outstanding Sukuk accounting for 57 per cent of the amount.

Stakeholders in oil and gas as well as manufacturing industries have raised concerns about the implementation of some sections of the country’s local content, especially the human capital development fund even as they warned that excess levies may cripple the sector.[

The Corporate Affairs Commission (CAC) has commenced the implementation of the requirement of N100 million minimum paid-up capital for companies with foreign participation

The Debt Management Office (DMO) has announced the offer for subscription of four Federal Government of Nigeria (FGN) bonds valued at N360 billion.According to a statement issued by the DMO through its official X handle, the first offer is due April 2029 FGN bond valued at N90 billion, at an annual interest rate of 14.55 per cent.

•FUGAZ shares rise by 136% in one year FBN Holdings Plc broke the N1 trillion capitalisation ceiling at the end of yesterday’s trading after its stock surged by close to 10 per cent for the third consecutive session to settle for N29.40 kobo. With yesterday’s rally, the premier bank has joined Zenith Bank and GTCO…

The Cross River State Government and Oando Clean Energy (OCEL), the renewable energy business subsidiary of Oando Energy Resources, signed a memorandum of understanding (MoU) for the rollout of electric vehicles for mass transportation within the state at the ongoing 28th edition Conference of the Parties (COP28) in Dubai, United Arab Emirates (UAE)

A global leader in consumer goods, Procter & Gamble Nigeria is the latest casualty of Nigeria’s harsh operating environment, as the company, yesterday, announced that it was transitioning local operations to an import-only model, effectively dissolving its on-ground presence in the country

In line with its commitment to further deepen financial literacy and increase the participation of retail investors in the capital market, Nigerian Exchange Limited (NGX), in collaboration with Zenith Bank and supported by Africa Prudential, has taken its financial literacy initiative, X-Lit to the Army Barracks.   The session, themed “Soldering Wealth: X-Lit’s Exclusive Insights…

The Nigerian government has taken a significant step towards addressing the country's power challenges by signing a historic memorandum of understanding (MoU) to launch a gigawatt (GW) solar PV manufacturing plant in the country.

Stakeholders have said that Nigeria is not harnessing the opportunities trade-in service offers under the African Continental Free Trade Agreement (AfCFTA) as it accounts for about 60 per cent of the gross domestic product (GDP) of the country.

Comercio Partners, an investment bank, said achieving faster output growth requires strategic interventions, policy support and a focus on growth sectors.

A United Nations Conference on Trade and Development (UNCTAD) report on critical mineral trade flows in electric car batteries has revealed the huge opportunity in the value chain for Nigeria and other mineral-rich developing countries.

The House of Representatives Committee on Public Assets, yesterday, in Abuja put the value of Federal Government assets at $100 billion, insisting that there is urgent need to safeguard the assets against looting.

Recovering from the previous losses, Nigerian Exchange Limited (NGX) posted a gain of N166 billion amid price appreciation in BUA Cement and 39 stocks.

Managing Partner at Ecovis OUC (Chartered Accountants), Andrew Uviase, has faulted the reporting template used for the just-released gross domestic product (GDP) reporting even as he stressed that the economy has not made serious progress in real terms.

Minister of State for Steel Development, Uba Ahmadu, said a series of transformative initiatives are in place to revitalise Nigeria's metallurgical and steel sectors to drive economic growth, create jobs and reduce poverty.

African leaders have called for a significant increase in climate financing for Africa, a continent often described as the hardest hit of the climate crisis, saying now is the time to act as time is ticking very fast.

Nigeria’s external sector recorded a modest improvement last quarter (Q3) as trade surplus rose by 47 per cent quarter-on-quarter (QoQ) to N1.89 trillion compared to N1.28 trillion posted in the second quarter (Q2).

Leadership retreats are usually less formal and unofficial, allowing staff members to let their hair down and relax in a fun atmosphere.

The Minister of Communications, Innovation, and Digital Economy, Dr Bosun Tijani, has called for support for local technology service providers in the country.

The government would need to unlock the huge long-term financing potential of the capital market and tie borrowings with infrastructure bonds to achieve a consistent 16 per cent yearly growth in the next six years to attain a $1 trillion economy by 2030.

Lagos State Governor, Babajide Sanwo-Olu, said the arrival of the largest container-roll-on-roll-off (RORO) ship, ' MV Great Lagos', to Tin-Can Island Port is an expression of confidence of the international community in Nigeria and proof that the business environment is progressively getting better.

As part of its expansion efforts, Falcon Corporation Limited has announced the successful closing of a N19.41 billion facility from Chapel Hill Denham Nigeria Infrastructure Debt Fund (NIDF).

Providus Bank Limited has collaborated with MasterCard to introduce an innovative payment solution for business customers to facilitate seamless transactions for both payment and collection purposes.

The 12th Sustainability in the Extractive Industries (SITEI) conference sought to harmonise the present condition of Nigeria's extractive sector with global development goals through an evaluation of governance, policies and their execution.

In the realm of advertising, standing out amidst a sea of creative brilliance is an achievement pursued by many but attained by the truly exceptional. For Terra Cube, the new kid on the block in the seasoning cubes market, the journey to clinching the most prestigious Grand Prix Award and the Best Campaign of the Year 2023, at LAIF Awards and ADVAN African Awards respectively across all brands and categories in Nigeria was not just a triumph but a testament to its unwavering dedication to redefining excellence

The government has been advised to invest pension funds in sectors that have direct impacts on the citizens to support economic development

The Chartered Institute of Bankers of Nigeria (CIBN) and First City Monument Bank (FCMB), a member of the FCMB Group Plc committed to fostering inclusive and sustainable growth, jointly recognised and rewarded two upright citizens, Ngozi Kekwaaru and Auwalu Alkasim, for their integrity.

News Central is excited to announce the appointment of Kayode Akintemi as the Managing Director, who will be leading the channel into its next phase of growth and innovation.