Africa: Nigeria Spends $500 Million Annually On Palm Oil Importation – CBN

CBN

The Governor, Central Bank of Nigeria (CBN) Godwin Emefiele on Monday said that over five hundred million dollars was being spent annually on importation of palm oil. Mr Emefiele said this at a stakeholders’ meeting on the Palm Oil Value Chain held in Abuja. The meeting was attended by the Governors of Akwa Ibom, Edo and Abia. Also, the managers […]

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Africa: Recession and price gaming has made customers more abusive in Nigeria – report says

Recession and price gaming has made customers more abusive in Nigeria – report says -predicts 7.3% decline in tourism contribution to the GDP, if negative impact on tourism’s downward spiral is not quickly arrested -2016, there were 61 new hotels with 10,222 rooms added in Nigeria By Renn Offor Jumia Travels has released its annual Nigerian Hospitality Report for 2017 […]

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Africa: Season of protests in Abuja

Nigerians are very famous for their innate capacity to absorb shocks of any kind, including those emanating from irrational and insensitive political leadership. However, this rare quality of “suffering and smiling” seems to be waning due to the economic crisis in the country. Nigerians appear to have started revealing the ‘lion nature that is residual in the lamb’ going by […]

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Africa: CBN Approves Special FX Window for Airline Operators, Manufacturers

The Central Bank of Nigeria (CBN), Friday approved a Special Secondary Market Intervention Retail Sales (SMIS) forex window for domestic airline operators and manufacturers to stimulate ease of doing business in the sectors. The Minister of State for Aviation, Mr. Hadi Sirika, said the important one-off-stop-shop would fast track easy clearance of the backlog of matured Foreign Exchange (FX) obligations. […]

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Africa Aviation: We will concession Nigerian Airports on PPP, Hon. Sirika tells stakeholders

ACI

By Renn Offor Nigeria’s Minister of State for Aviation, Alhaji Hadi Abubakar Sirika, has presented the Federal Government’s Aviation Roadmap to stakeholders over the weekend, and saying in the process that Nigeria’s Government is now ready to move on with the concession of the airports through the process of Public Private Partnership (PPP), even as he stipulated government’s strategy for […]

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Aviation: Emirates present 3 reasons why they stopped Abuja flight to the Nigerian Minister

emirates UAE

Nigeria’s Ministry of Aviation is asking foreign airlines in the process of downgrading or suspending their operations to reconsider their plans and decisions. The Ministry is assuring them that the challenges currently besetting the industry and other sectors would soon become things of the past. The Minister of State for Aviation, Senator Hadi Sirika, made the appeal on Wednesday when […]

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Aviation: Depleting Passenger Traffic in Nigeria

As air passenger traffic continues to nosedive due to high fares and schedule hiccups occasioned by aviation fuel scarcity, Chinedu Eze warns that the development constitutes a major setback to Nigeria’s air transport sector and the economy as a whole. Nigerians are in a quagmire over limited choices of the right means of transport. The country has networks of roads […]

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African Taiwan: Nnewi and the industrialisation of Nigeria

Prof. Kingsley Chiedu Moghalu Moghalu, former Deputy Governor, Central Bank of Nigeria (CBN) and a Professor of International Business and Public Policy, Tufts University, USA writes on the place of Nnewi, the commercial nerve centre of Anambra State. I am a proud indigene of Nnewi, an ancient town in Anambra State populated by industrious and resourceful men, women and children, […]

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Africa: Nigeria spends $45M importing French Fries

Dollar scarcity, occasioned by Central Bank of Nigeria (CBN)’s flexible foreign exchange policy, which banned importation of French Fries may have saved the country about $45 million (N14.1 billion) yearly, New Telegraph has learnt. A top member of All Farmers Association of Nigeria (AFAN) and Chairman, Faniz Groups of Companies, Uchethe chukwu Aniezechukwu, disclosed this in a chat with this […]

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Aviation: We Are Dying, Airline Operators Tell Senate

Aero

Omololu Ogunmade in Abuja Airline operators in Nigeria have told the Senate Committee on Aviation that unless the federal government promptly pumped intervention funds into the aviation sector, all domestic airlines operating in the country will die. The operators stated this last Wednesday during an emergency interactive session convened by the Senate Committee on Aviation. Speaking on behalf of Airline […]

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