IATA Praises Nigeria Over Swift Clearance of $831m Backlog The International Air Transport Association (IATA) has praised the Nigerian government for its swift action in clearing the backlog of foreign airlines’ trapped funds, amounting to over $831million. This commendation was delivered by IATA’s Regional Vice President...

NNPC Disagrees as Report Puts Petrol Debt at $6bn Nigeria’s debt to suppliers of Premium Motor Spirit, popularly called petrol, has surpassed $6bn, doubling what it was since early April, as the Nigerian National Petroleum Company Limited struggles to cover the gap between fixed pump...

NGX Confirms Jude Chiemeka CEO The Nigerian Exchange Group (NGX) has announced the appointment of Jude Chiemeka as the Chief Executive Officer of Nigerian Exchange Limited. Chiemeka’s appointment is to take effect from July 1, 2024. This was disclosed in a statement made available by the Head...

Nigeria to Host $5bn African Energy Bank Nigeria has been granted the hosting right for the $5bn African Energy Bank after beating Ghana, Benin Republic, Algeria, South Africa and Cote d’Ivoire in a keenly contested bidding. The Minister of State, Petroleum Resources (Oil), Heineken Lokpobiri, told...

Oil Block: NUPRC Gives 24 hours Deadline to Investors for Licensing Registration The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced a 24-hour deadline for new investors to register for the 2024 oil block licensing bid round. This announcement was made by Mr. Gbenga Komolafe, the...

Vehicle Importation Dips 45% in Q1 2024 Over Forex Crisis - CGC The Comptroller General of the Nigeria Customs Service, Adewale Adeniyi, has disclosed that vehicle importation dropped by 45 per cent in the first quarter of 2024, due to foreign exchange challenges in the...