It is awful week of news in the airline industry. We saw a plane crash in Nepal, we saw a dog die in the overhead bin on a United Emirates flight, and now there’s another tragic story.The Daily Monitor in Uganda is reporting that an Emirates flight attendant jumped off a plane at Entebbe Airport […]
Nigeria’s inflation slowed for a 13th consecutive month in February, but may still be too high for the central bank to start cutting rates from a record. Consumer-price growth in Africa’s most populous nation decelerated to 14.3 percent from 15.1 percent in January, the Abuja-based National Bureau of Statistics said in an emailed statement. The […]
Nigeria is reducing its domestic borrowing after government debt reached 22 trillion naira ($61 billion) in 2017, with most of it made up of high-interest, locally-acquired credit, the country’s debt office said. The government is working on a strategy to reduce domestic debt to 60 percent of the total, from 73 percent, Patience Oniha, director […]
Nigeria’s central bank will delay its next interest rate-setting meeting after a political row following nominations for its Monetary Policy Committee, the governor said on Thursday. Governor Godwin Emefiele told CNBC the meeting scheduled for March 19-20 would be delayed by about seven to 10 days or at the latest until the first week of […]
Nigeria’s Guaranty Trust Bank and a subsidiary of Royal Dutch Shell have granted a $270 million loan to independent Nigerian oil and gas producer Amni International, Amni told Reuters on Thursday. The terms of loan will give Shell Western Supply and trading sole access to the 16,000 barrels per day (bpd) of oil the company […]
Data from the Nigerian Bureau Statistics says the total capital imported into the country in 2017 increased from 5.1 billion dollars to 12.2 billion dollars. “When we consider the full year data, total capital imported into Nigeria stood at US$12.2bn in 2017 compared with US$5.1bn recorded in 2016,” business site- Proshareng.com wrote. In its recent […]
By Foster Obi Nigeria Joint Health Sector Unions (JOHESU) has alerted that the health system will be paralyzed if the government does not meet the demands of health workers in 30 days. According to JOHESU’s national vice president, Ogbonna Chimela, this will be a mega strike and if it starts the states and local governments […]
Nigeria plans to repay 482 billion naira of treasury bills in the second quarter and will halve the amount it wants to raise between March and May to lower borrowing costs, according to its debt auction calendar seen by Reuters on Wednesday. A total of 964 billion naira worth of bills fall due in the […]
Stanbic IBTC has pledged to continue to advance the cause of its women workforce as it strengthens its equal opportunity policy. This pledge was made at the 2018 Stanbic IBTC Blue Women Network (BWN) event in Lagos to commemorate the International Women’s Day, themed “Press for Progress”. According to the financial institution, women constitute over […]
A new law approved by the Nigerian Electricity Regulatory Commission (NERC) now permits operators other than the distribution companies to supply meters to electricity consumers in the country. Consequently, the electricity sector regulator said, a new class of operators in the power sector called Meter Asset Providers (MAPs) has been mandated to join in providing […]