Air Peace, Nigeria’s foremost airline and West Africa’s largest carrier, proudly announces the elevation of Senior First Officer Chibuzo Mbanefo to the rank of Captain on its Boeing 777 fleet. Captain Mbanefo has consistently demonstrated exceptional skill, leadership, and commitment to upholding Air Peace’s high operational standards. After undergoing rigorous […]
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Manufacturers Warn 15% Port Tariff Increase Will Fuel Inflation, Smuggling
The Manufacturers Association of Nigeria (MAN) has strongly opposed the proposed 15 per cent increase in port-related charges, warning that the decision will drive up production costs, fuel inflation, and encourage smuggling. The association stressed that the hike is ill-timed, given the economic challenges businesses are currently facing. MAN’s […]
Neimeth’s WHO-Compliant Plant to Strengthen Africa’s Pharma Supply Chain Under AfCFTA- Okelu
Neimeth International Pharmaceuticals Plc has said that the construction of a state-of-the-art, WHO-compliant pharmaceutical manufacturing facility in Amawbia, Anambra State, is a move poised to enhance Africa’s healthcare industry and solidify Nigeria’s role as a key player in regional pharmaceutical production. Speaking at a media parley in Lagos, the […]
Sales From Sugar Accounts For 48% Of BUA Foods Revenue As Food Inflation Soars
The Sugar division contributed 48 per cent to BUA Foods’s revenue in full year 2024 according to the company’s earnings release. Nigeria’s food inflation rate hit 39.84 per cent in December 2024, a 5.91 per cent increase from the 39.93 per cent recorded in December 2023, […]
Over N2.4bn Disbursed For 2023 FG Projects, Yet No Contractor On Site-BudgIT
Tracka, BudgIT’s service delivery promotion platform, which allows citizens to collaborate, track and give feedback on public projects in their communities, has uncovered payments worth N2.4bn to seventeen contractors for fifteen projects across nine states, yet no contractor has commenced work on these sites. According to the organisation’s […]
Global Lenders Pledge $8 Billion to Africa’s $90 Billion Power Expansion Plan
Efforts to provide electricity to 300 million Africans received a significant boost as the Islamic Development Bank (IsDB), the Asian Infrastructure Investment Bank (AIIB), and other financial institutions pledged over $8bn in new funding for the Mission 300 initiative. The program, launched in April by the World Bank and […]
Trump’s Policies Shifts: What They Mean For Nigeria, Africa’s Future-Analysts
Donald Trump’s recent speech and executive orders have sparked discussions about their potential implications for Nigeria and Africa. Analysts at Data Services and Resources Limited have highlighted key areas of impact, ranging from trade policies to energy, immigration, and global influence. The analysts noted that the U.S. administration’s protectionist […]
Mid-Level Investors Boost Liquidity in Nigerian Capital Market – Amolegbe
Managing Director and Chief Executive Officer of Arthur Stevens Asset Management Limited, Olatunde Amolegbe has highlighted the growing presence of mid-level investors in the Nigerian capital market, emphasizing their critical role in boosting market liquidity. Speaking at the Capital Market Correspondents Association of Nigeria (CAMCAN) 2024 Market Review and […]
BudgIT Clarifies Findings On Sokoto State’s Fiscal Transparency Rankings
BudgIT, a civic tech organisation has noted recent publications across various media outlets that misrepresented its findings on Sokoto State’s budget and fiscal transparency. While we appreciate the media’s role in fostering dialogue, these reports inaccurately represent our analysis, compelling us to clarify the facts and reaffirm our position. […]
Nigeria’s Headline Inflation Rate Increases to 34.80% in December 2024
Nigeria’s headline inflation rate rose to 34.80% in December 2024, according to the latest report from the National Bureau of Statistics (NBS). This represents a slight increase of 0.20% from the 34.60% recorded in November 2024, primarily driven by heightened demand for goods and services during the festive season. The […]