Nigeria needs to deepen economic reforms and boost government revenues in order to have a sustained recovery after a coronavirus-induced oil price shock that slashed income and weakened its currency, the World Bank’s country director told Reuters on Friday. Shubham Chaudhuri said Nigerians are aware they cannot simply wait for oil prices to recover as […]
By Foster Obi Emirates Airlines said it will be offering scheduled flights for passengers from seven additional cities in the month of July. These include Khartoum (from 03 July), Amman (from 05 July), Osaka (from 07 July), Narita (from 08 July), Athens (from 15 July), Larnaca (from 15 July) and Rome (15 July). According to […]
By Foster Obi Ikeja Electric has said it will be implementing the revised electricity tariff from July 1, 2020. A statement signed by the management of the company said the new tariffs, which are Service reflective, are end-user rates to be paid for electricity based on the level of service (including availability and reliability) provided […]
… As NIMASA provides Palliatives as short term measure By Foster Obi Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh, has revealed that there are policies in the offing to improve the quality of training and certification, as well as remuneration for the country’s seafarers. He stated this on Thursday […]
By Foster Obi Morgan Stanley, TruFund Financial Services and the Ford Foundation yersterday announced the launch of the Impact Developers Fund. The $26 million fund will provide much needed capital to emerging impact businesses that lack access to adequate affordable capital, including minority and women owned real estate development companies, expanding their capacity to build, […]
By Foster Obi Since the COVID-19 outbreak, developing economies have suffered unprecedented capital outflows. The World Bank Group has created a virtual one-stop for the latest information about Debt Service Suspension Initiative (DSSI). It highlights the potential savings for each eligible country—both in dollar terms and as a percentage of GDP. The data as released […]
The Federal Executive Council (FEC) has approved N14.9 billion for the execution of 11 ecological projects across the six geopolitical zones of the country. The Minister of Information and Culture, Alhaji Lai Mohammed, made this known when he briefed State House correspondents at the end of the Council fifth virtual meeting presided over by President […]
By Foster Obi Ahead of flight resumption, Nigerian carrier Dana Air on Wednesday carried out a dry run at the Murtala Muhammed Airport 2 (MMA2) and shakedown flights from Lagos to Port Harcourt and back. A statement by the airline’s Media and Communications Manager, Kingsley Ezenwa said Dana Air had to carry out the exercise […]
By Foster Obi As efforts to amend the act setting up National Oil Spill Detection and Response Agency (NOSDRA) amendment bill by the national assembly gets underway, civil society organizations in the country have called for a more encompassing amendment that will empower the agency to detect and respond to oil spills, including tier 3 […]
By Foster Obi Emirates airlines said it has introduced additional cargo capacity by using Boeing 777-300ER aircraft with seats removed from the Economy Class cabin. The measure according to the company has been introduced in response to the strong air cargo market demand for the rapid, reliable and efficient transportation of essential commodities such as […]