Paul Alaje: Wale Edun Needs To Redirect Nigeria’s Economy From Consumption To Production
“When you’re consuming and you’re devaluing, you’re only digging your own grave.”
Nigeria Air: Chief Judge Reverses Decision To Hear Suit in Abuja
The Chief Judge of the Federal High Court, Justice John Tsoho, has reversed the decision to transfer the suit filed by the Airline Operators of Nigeria (AON) against Nigeria Air
JP Morgan: With $4.5bn Debt Service, Lower FX Position, Nigeria Requires Sustained Reforms to Attract Capital Inflows
“Thus, in our view, continuing on the reform path would be imperative to allay concerns on the external side.”
Libya Central Bank Reunifies After Nearly A Decade
The move towards the unification of the bank started in 2020 as part of a peace progress attempt.
Onitsha River Port Receives First Commercial Barges
It is expected to herald a weekly occurrence of 600 tons of tiles to Onitsha and 600 tons of clay back to Ajaokuta.
Report: Nigerian Manufacturers At Receiving End of Country’s Debt Burden
“A whooping debt service-to-revenue ratio of over 100 percent may spell doom for the new administration.”
Nigerian Textile Manufacturers Seek Special Grant From Government to Revive Industry
A former president, Carpet Manufacturers Association of Nigeria, said over 30 textile companies in Nigeria have closed shop, and 60, 000 have lost their jobs.
Fraudsters Steal N9.5bn Electronically From Nigerian Banks and Payment Systems in 7 Months
The CBN called for enhanced collaboration to stem the tide, and also released fresh guidelines for forex sale by BDCs.
Zulum Seeks Collaboration with Customs For Growth of Business in Borno
This will be through enhanced trans-border trade with neighbouring countries of Cameroon, Chad and Niger Republic.
Tinubu Approves Establishment Of Presidential Compressed Natural Gas Initiative
It’s targeting 11,500 new CNG-enabled vehicles and 55,000 CNG-conversion kits for existing vehicles.
Innoson CEO: Alex Otti Is One of My Best Customers, I’m Not Against His Purchase of 20 Toyota Vans
“He has bought 80% of his needs from me. It’s not bad that he took some from any other place to make sure his security is working.
CBN’s Price Verification Portal For Imports, Exports Goes Live
It said the PVR has become a mandatory trade document precedent to the completion of a Form M going forward.
Naira Gains Further on Thursday, Sells At N840/$1 On Parallel Market
With the appreciation at both the official and parallel markets, the gap between both segments of the forex market reduced to N81.
Transcorp Consolidates Position in Power Sector, Acquires 60% Stake in Abuja Disco
The Board of the Abuja Disco has announced the appointment of Christopher Ezeafulukwe, MD/CEO of Transcorp Power Limited as the new MD/CEO of AEDC.
Seplat Denies Ownership of Capsized Oil Rig in Delta State
British national dies in mishap as three other crewmen go missing.
Paul Alaje: NNPC’s $3bn Loan A Quick-Fix Measure, Not A Long-Term Solution
“NNPC is now a limited liability company. How come we still have a sole owner? Is it a one-man business?”
FBN Holdings Announces Otedola as Non-Executive Director
“Otedola is a strong leader with a track record of achievements in business and always aiming to make things better and adding value in areas where pioneers have trod.”
Ondo Government Promises To Sustain Investment in Cocoa and Cashew to Boost Revenue
The SSA to the Governor on Agriculture explained that cocoa was responsible for 1.04 per cent of exports and contributes 3.33 per cent to employment in Nigeria.
Nigeria: Private Sector Operators Say Rising Inflation Adversely Affecting Manufacturing Sector
They noted that the significant rise in inflation largely reflected the impact of fuel subsidy removal and exchange rate devaluation.
NNPC Gets $3bn Loan from Afreximbank to Stabilise FX, Naira Gains
There was relief in the forex market on Wednesday, as the naira appreciated at both the official I&E forex window and the parallel market.
