Dangote Peugeot Automobiles Nigeria Limited has started assembling vehicles in Nigeria, beginning with the Land Trek, 3008, 5008 and the new 508. The vehicles are being built at the newly built Green Field Assembly Plant in Nigeria’s northwestern region. Dangote Peugeot Automobiles Nigeria Limited (DPAN) has started assembling vehicles...
BUSINESS
Mr Godwin Emefiele, the Governor of the Central Bank of Nigeria (CBN) has urged rice mills in the country to embrace CBN’s backward integration initiatives aimed at conserving foreign exchange reserves. Information obtained from CBN’s website indicates that Emefiele made the call on Tuesday, during the inauguration of Garewa...
Ethiopian Airlines on Tuesday resumed flying Boeing 737 MAX plane with opinions divided on the airline’s first flight using the model since a crash three years ago forced regulators to ground the fleet globally. In March 2019, a flight to Nairobi crashed in a field six minutes after take-off...
By JOY ADARA, Abuja – The management of Arik Airline has increased the frequencies on some of its key Northern routes to cope with customers’ demands. The Chief Executive Officer, Arik Air, Capt. Roy Ilegbodu, who disclosed this in a statement in Lagos on Tuesday, said the affected routes...
The Central Bank of Nigeria (CBN) on Monday gave out N23.2 billion in loans to 28 beneficiaries, as it inaugurated its new “100 for 100” Policy on Production and Productivity (PPP). The News Agency of Nigeria (NAN) reports that the PPP was initiated by the apex bank to encourage...
By TENEBE ANTHONIA, Lagos – Nigerian Exchange Limited (NGX) on Monday announced the listing of the Federal Government of Nigeria (FGN) $4,000,000,000 FGN Eurobonds on its platform. The Eurobonds were issued in three tranches as follows: 6.125% FGN SEP 2028 worth $1,250,000,000.00; 7.375% FGN SEP 2033 worth $1,500,000.00; and...
By TENEBE ANTHONIA, Lagos – It is well-known that countries with well-developed capital markets experience higher economic growth. In addressing what actionable steps need to be taken to build the capital market that is desire, the Chief Executive Officer, Nigerian Exchange Limited, Mr. Temi Popoola, CFA addressed capital market...
Over a hundred years since banks came into Nigeria, services rendered to small and medium scale businesses were limited to core banking services and transactions. However, those that cared to look further were able to stand the test of time, reinventing themselves with cutting edge financial services that remain...
Following approval by the Nigerian Civil Aviation Authority (NCAA) for the operation of Boeing 737-700 aircraft or its equivalent at the Anambra International Airport, in Umueri, Governor Willie Obiano has welcomed passengers on board the first Embraer 195-e2 aircraft at the airport. The aircraft landed with 124 passengers from...
Ibom Air has once again emerged the best airline in Nigeria, an award it also won in 2021, its first year of operations. This was disclosed by Mr Ikechi Uko, Organiser, Travellers Award and publisher ATQnews. Uko said this was based on the ranking of Nigerian airlines, using the...
Toyota sold 10.5 million vehicles in 2021, a 10.1-per-cent jump from its sales in 2020 that sees the Japanese carmaker pulling farther ahead of its nearest rival, Volkswagen. Despite the supply bottlenecks for semiconductors and other pandemic repercussions, Toyota said on Friday that both global sales and production were...
By TENEBE ANTHONIA, Lagos – Nigerian Exchange Limited (“NGX”) will hold its annual 2021 Market Recap and 2022 Outlook in collaboration with Renaissance Capital (RenCap) on Thursday, 3 February 2022. The virtual event will facilitate conversations around The Exchange, the larger Nigerian capital market and the economy as a...
The United Arab Emirates (UAE) will resume passenger flights from Nigeria and 11 other African countries on Saturday, January 29. UAE’s National Crisis and Emergency Management Authority (NCEMA) announced this in a tweet on Wednesday. “From January 29, entry into the UAE for arrivals from Kenya, Tanzania, Ethiopia, Nigeria,...
By BARBARA KALU, Port Harcourt – Minister of Transportation, Mr. Chibuike Rotimi Amaechi , has refuted claims from Governor Nyesom Wike, that he dumped an aircraft owned by Rivers State Government in Germany. Speaking on behalf of the former Rivers governor, a former Commissioner of Transport, Tolofari George, in...
Ericsson says all is set to showcase its newest products in 5G innovation, the Time-Critical Communication (TCC), a software toolbox built to resolve lags and interruptions in mobile networks. Ericsson announced this in a statement on Wednesday, while declaring its participation at LEAP 22 taking place in the Riyadh...
Debt Management Office (DMO) says it has listed its 2021, 4 billion dollars Federal Government of Nigeria (FGN) Eurobonds on the FMDQ Group Securities Exchange. This is in a bid to build investors’ confidence and also secure their investments. The DMO revealed on its website that the Eurobond was...
Air Peace, Nigeria’s leading airline, has announced the deployment of its brand new Embraer 195-E2 and Boeing 737 aircraft on the Anambra route. Spokesperson of the airline, Stanley Olisa, confirmed the development in a statement issued in Lagos on Wednesday. The News Agency of Nigeria (NAN) reports that the...
The Central Bank of Nigeria’s Monetary Policy Committee on Tuesday retained the Monetary Policy Rate (MPR) at 11.5% and kept all other parameters unchanged. CBN Governor Godwin Emefiele made the announcement while addressing journalists at the bank’s headquarters in Abuja. The MPR, which has remained unchanged for months, is...
Alhaji Aliko Dangote has retained his position as the richest man in Africa, with a net worth of $12.1 billion, according to the 2022 edition of the Forbes’ Top 10 Africa’s Billionaires List. This is contained in a post on their verified Twitter account @Forbes. According to the report, for...
The National Bureau of Statistics (NBS), says 13 states produced 36,943.8 metric tonnes of wheat in 2021. The figure is contained in the “Wheat Production Survey in Nigeria, 2021”, obtained from the NBS website on Monday in Abuja. According to it, Kano State at 19.68 per cent, accounted for...