AfrieximBank Approves NNPC’s $5bn Loan For Upstream Sector Financing
AfrieximBank has approved a $5 billion loan to the Nigerian National Petroleum Company (NNPC) Limited to assist the country’s upstream sector. The NNPC Group Managing Director Mele Kyari announced this on Thursday via his official Twitter handle. The deal, according to Kyari, arose from a meeting between the NNPC team and Benedict Oramah, Chairman of […]
Nigeria Landing Cost Of Petrol Rises To ₦282/Liter
Due to the rise in global crude oil prices, the landing cost of Premium Motor Spirit, often known as petrol, imported into Nigeria has risen to ₦282 per liter. Following an increase in the landing cost of petrol into the country, the subsidy will rise as the pump price of petrol stays stable at ₦162-N165 […]
Poor Mobile Networks, Other Factors Threaten enaira Uptake – Report
A new report by Omaplex Law Firm has said, poor mobile networks and the restricted availability of Internet-enabled devices, among other factors, are endangering eNaira’s adoption across the country. The Central Bank of Nigeria launched its digital currency, the eNaira, in October of last year. With the creation of the central bank’s digital currency, the apex bank […]
UAE Opens Visa Application Centre In Lagos
The United Arab Emirates (UAE) has inaugurated a visa application and document attestation centre at the office of the UAE Consulate General in Lagos. This was disclosed to the media by the office of the UAE Consulate on Wednesday. The inauguration was led by the Consul General, Dr. Abdulla Al Mandoos and was attended by […]
Delta Loses $408 million; 8,000 Employees Hit With Infection
Delta Air Lines lost $408 million in the final quarter of 2021, dragged down by a COVID-19 surge that rocked the airline in December, and the carrier predicted Thursday that it will suffer one more quarterly loss before travel perks up in spring and summer. CEO Ed Bastian said 8,000 employees have contracted COVID-19 over […]
US Supreme Court Conservatives Lean Against Biden Business Vaccine Policy
Conservative U.S. Supreme Court justices on Friday questioned the legality of President Joe Biden’s pandemic-related vaccine-or-testing mandate for large businesses but appeared more receptive to his administration’s vaccine requirement for healthcare facilities at a time of surging COVID-19 cases. The court’s nine justices, who are all vaccinated, heard more than 3-1/2 hours of arguments in […]
MAN Express Displeasure Over FG Imposed N10/Litre Tax On Carbonated Drinks
The Manufacturers Association of Nigeria (MAN) has expressed its displeasure with the federal government’s plan to impose a N10 per liter excise duty on all non-alcoholic, carbonated, and sweetened beverages. The group which described the move as rather unfortunate said the long-term effect of the policy might not achieve the expected aim. Segun Ajayi-Kadir, the […]
Donald Trump’s Children Refuse To Testify In Fraud Inquiry
Two of Donald Trump’s children have refused to testify to a fraud inquiry into the family’s business. Donald Jr, 44, and Ivanka, 40, were ordered to give evidence by New York Attorney General Letitia James. She opened a civil inquiry in 2019 into claims that – before he took office – Mr Trump had inflated […]
Nigeria Labour Alleges International Conspiracy Against Country’s Downstream Petroleum Sector
The Nigeria Labour Congress (NLC) has raised the alarm over what it described as an international conspiracy, working with local collaborators to keep the Nigerian economy and people perpetually on their knees through the under-development of the country’s downstream petroleum sector. The labour union has also claimed that about $9.5 billion had been spent on […]
Elon Musk Criticised After China Space Complaint To UN
Elon Musk is facing a social media backlash after China complained that its space station was forced to avoid collisions with satellites launched by his Starlink Internet Services project. The country’s space station had two “close encounters” with Starlink satellites this year, Beijing claimed. The incidents behind the complaints, lodged with the UN’s space agency, […]
