For decades, Nigeria's aviation industry has been caught in a vicious cycle. Airlines struggle to acquire aircraft because of prohibitive financing costs, while limited fleet capacity leads to flight delays, cancellations, route reductions, and, in many cases, the collapse of promising carriers. Successive governments have acknowledged the financing challenge, yet finding a lasting solution has …
The Nigerian Consulate in Johannesburg and the Nigerian Union South Africa (NUSA) have condemned killing of the citizens in South Africa in the ongoing xenophobic attacks on Africa nationals. In separate statements, the Consulate and the union called for probe of the killings and dispensation of justice by the South African authorities. In …
Nigeria's stock market extended its losing streak for a third consecutive week, with investors shedding another ₦1.8 trillion in value. This is even as trading activity rebounded sharply amid growing caution over upcoming economic events, expectations surrounding the Dangote Refinery listing and the release of second-quarter corporate earnings. For the trading week ended July 3, …
BudgIT has called for an urgent independent investigation into the N1.3 billion allocation to the purported Presidential Foreign Intervention Promotion Council (PFIPC) in the 2026 Appropriation Act. It made the call in a statement on Friday signed by its Country Director, Vahyala Kwaga, warning that the development exposes deep weaknesses in Nigeria's budgeting process and …
Former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, on Friday met behind closed doors with the African Democratic Congress (ADC) vice-presidential candidate, Rotimi Amaechi, at his residence in Abuja. The purpose of the meeting was not disclosed, and neither Malami nor Amaechi addressed journalists after the talks. The meeting comes a day …
The Nigeria Democratic Congress (NDC) has called for the immediate removal of the President's Chief of Staff, Femi Gbajabiamila, over allegations linking him to the controversial Presidential Foreign Intervention Promotion Council (PFIPC), an agency the Federal Government says does not exist. In a statement issued on Friday by its National Publicity Secretary, Osa Director, the …
Former Vice President and presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has hailed Thursday's Federal High Court judgment that affirmed David Mark-led leadership of the party, saying the ruling has strengthened the opposition's resolve ahead of the 2027 presidential election. Atiku made the declaration after the Federal High Court in Abuja dismissed …
The Securities and Exchange Commission (SEC) has granted Approval-in-Principle (AIP) to seven fintech and digital asset firms under its Accelerated Regulatory Incubation Programme (ARIP). The admission allows the firms to operate within the SEC regulatory sandbox as the Commission steps up efforts to support innovation while protecting investors. The approval, announced in a public notice …
The Federal Government, through the Pension Transitional Arrangement Directorate (PTAD), has cleared over N39.6 billion in long-standing pension arrears, settling inherited liabilities for 24,814 eligible retirees under the Defined Benefit Scheme (DBS). According to a statement released on Friday, signed by Olugbenga Ajayi, Head, Corporate Communications, PTAD, the payment fulfils President Bola Ahmed Tinubu's commitment …
Dangote Petroleum Refinery has successfully issued its debut Eurobond, raising $750 million to strengthen its finances and optimize its debt ahead of a planned initial public offering (IPO). According to a report by Eurobond Africa, the five-year dollar-denominated bond is due in July 2031. Priced at par to yield 7.50 per cent, the transaction was executed through …
