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Airline operators have temporarily shelved plans to cease flight operations, averting a national transport crisis scheduled for 20 April. The Airline Operators of Nigeria (AON) agreed to the pause following an emergency appeal from the Minister of Aviation and Aerospace Development, Festus Keyamo. The government warned that a shutdown would cripple the economy and devastate…
A ten percent stake in Africa’s largest single‑train refinery will be offered to public investors through a Pan‑African Initial Public Offering scheduled for 2026, Alhaji Aliko Dangote has confirmed. The share sale, which analysts estimate could raise approximately two billion dollars based on the facility’s twenty billion dollar valuation, marks the first time equity…
The nation’s consolidated debt position has expanded to N159.27 trillion by the close of 2025, marking a substantial acceleration in public sector borrowing that has seen liabilities increase by over N14.6 trillion within a single fiscal year. The Debt Management Office’s fourth quarter disclosure reveals borrowing momentum that outpaced prior periods, with the final three…
Domestic aviation in Nigeria faces imminent paralysis as airline operators have collectively served notice of operational suspension effective April 20, 2026, following what industry leadership describes as unsustainable economic pressure from fuel procurement costs. The decision, communicated through an April 14 directive attributed to Airline Operators of Nigeria President Abdulmunaf Sarina, positions the sector…
The Nigeria Deposit Insurance Corporation (NDIC) has begun the final legal process to wind down 89 defunct Microfinance Banks (MFBs) and Primary Mortgage Banks (PMBs). These institutions were part of a larger group of 183 lenders whose licences were revoked by the Central Bank of Nigeria (CBN) in May 2023. The corporation is now approaching…
United Nigeria Airlines has withdrawn one of its CRJ-900 aircraft from service following a bird strike during landing at Nnamdi Azikiwe International Airport, Abuja, marking the fifth such incident recorded by the carrier in the first four months of 2026. Flight UN0579 had departed Mallam Aminu Kano International Airport en route to Abuja when the…
Electric vehicle sales across Southeast Asia have surged as cost-conscious buyers rush to dealerships to avoid fuel price spikes linked to the ongoing Middle East conflict, with Vietnamese manufacturer Vinfast and Chinese brands like BYD recording significant gains. Asian nations have been particularly hard hit due to a sharp fall in the crude shipments…
Former Vice President Atiku Abubakar has faulted President Bola Tinubu’s comparison of Nigeria’s fuel prices with other African nations, insisting lower petrol costs do not reflect Nigerians’ economic hardship. The African Democratic Congress chieftain’s position came in a statement issued in Abuja on Saturday by his Senior Special Assistant on Public Communication, Phrank Shaibu….
Consumer prices in the United States climbed sharply in March, driven by a historic surge in gasoline costs triggered by the ongoing conflict in the Middle East, according to government data released Wednesday. The US Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) rose 3.3 percent year-on-year in March, a…
A late resurgence in financial services equities provided sufficient thrust to elevate the Nigerian Exchange Limited’s benchmark indicators on Thursday, with the All-Share Index advancing 576.27 points to conclude at 203,161.81 points. The 0.28 per cent expansion translated into N370bn of fresh capitalisation, pushing aggregate market value to N130.774tn. The session’s trajectory defied underlying fragility…
