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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United Nigeria Airlines has withdrawn one of its CRJ-900 aircraft from service following a bird strike during landing at Nnamdi Azikiwe International Airport, Abuja, marking the fifth such incident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…
The Cocoa and Coffee Farmers Alliance Association of Africa has revealed that the continent captures less than 10 per cent of the estimated 120 billion global chocolate market, even though African farmers produce approximately 70 per cent of the world’s cocoa beans. The disclosure underscores persistent structural inequities in the global cocoa value chain,…
Nigerian electricity distribution companies (DisCos) collected N204.74 billion from consumers in January 2026, despite a near-collapse of the national grid. Data from the Nigerian Electricity Regulatory Commission (NERC) reveals that revenue remained high even as power supply plummeted to roughly 2,000 megawatts. This paradox was driven by a debt crisis between gas suppliers and generation…
Dangote Refinery has reversed its recent fuel price adjustment, reducing the ex-gantry price of Premium Motor Spirit by ₦75 to ₦1,200 per litre, industry sources confirmed on Wednesday. The reduction comes weeks after the facility raised petrol prices to approximately ₦1,275 per litre, citing volatility in international oil markets that had elevated supply costs….
