Business and Economy

Arik Air, West Africa’s largest carrier has launched a customized air travel insurance aimed at taking passengers flying experience to a new level. The new air travel insurance enables a passenger to enjoy a customized domestic travel insurance on Arik Air with only N1, 000.00. All a passenger needs do …

In line with the change mantra pervading the corporate and political landscape in Nigeria, Union Bank of Nigeria Plc (Union Bank) has unveiled a new brand identity. The refreshed brand which was unveiled at a spectacular launch event in Onikan Stadium, Lagos this week, is in line with Union Bank’s …

Top industry players graced the one year anniversary celebration of the Air Peace Limited marked with fanfare at the Sheraton Hotels and Towers, recently. The event which drew notable figures from all sectors was highlighted by the cutting of the One year anniversary cake by the Chairman/CEO, Air Peace Ltd, …

Arik Air, West and Central Africa’s largest airline, has increased frequency on the Lagos to Douala via Cotonou route from four to six weekly flights. The new schedule which took effect on October 11, 2015 is aimed at further enhancing connectivity in the West Coast. The flights from Lagos to …

The restructuring of the short-term bank loans of 23 states into long-term Federal Government of Nigeria, FGN, Bonds by the Debt Management Office, DMO, has ended with loans totaling N575.516 billion for all the affected states restructured into 20-year Bonds. According to a release by the DMO titled ‘ Final …

The Central Bank of Nigeria (CBN) has stated that Letters of Credit established before the date of the June 23, 2015 circular that restricted access to forex for 41 items, can now be paid from the interbank forex market. The CBN stated this in a circular dated October 23, 2015, …

The Director General of the Debt Management Office, Dr. Abraham Nwankwo, has said the online news platform is a critical component of the development of the country. He said over 55 per cent of what happens to a nation’s economy is about perception. He said since that perception is largely …

The Nigerian National Petroleum Corporation (NNPC), Thursday, embarked on the public harvesting of technical bids submitted by a total of 91 companies consisting largely of indigenous vessel owners vying to secure contract for the provision of Coastal and Bunkering Vessel Services for the operations of the Pipelines and Products Marketing …

Telecommunication network, Etisalat, has called on Small and Medium Enterprises (SMEs) and startup businesses in the country to embrace the electronic commerce model of business to boost their capacity and efficiency. Head of Enterprise Marketing, Etisalat Nigeria, Bidemi Ladipo made this call while speaking on the ‘Role of Mobile Penetration …

With the release of the fourth generation Optima in April, Kia has continued to revolutionize and advance its line up of luxurious midsize sedans. The new Optima’s prowess embodies the growth and progress of Kia Motors as an influential and innovative automobile manufacturer. Today, let’s take a look at the …

  About 5000 people in Oloibiri area of Bayelsa State have benefitted from a health outreach organised by the Shell Petroleum Development Company of Nigeria Ltd (SPDC) Joint Venture in furtherance of its Health-in-Motion campaign. Working closely with the Bayelsa State Government, Ogbia Local Government Council and other partners, SPDC …

The Acting Director General of Nigerian Maritime Administration and Safety Agency (NIMASA), Mr. Haruna Baba Jauro has reiterated the Agency’s commitment to collaborate with the Nigerian Custom Service, NCS, to ensure seamless trade facilitation in Nigeria. According to a statement by Hajia Lami Tumaka, Head of Public Relations of NIMASA, …

The Nigerian Maritime Administration and Safety Agency (NIMASA) has denied reports that it defended a maritime security agreement with former commander of the Movement for the Emancipation of the Niger Delta (MEND), Mr Government Ekpemupolo, (Tompolo) during its meeting with the Chief of the Naval Staff, Vice Admiral Ibok-Ete Ibas, …

In line with its earlier pledge to open up the books of the Nigerian National Petroleum Corporation, NNPC for public scrutiny, the Management of the national oil Corporation under the leadership of Dr. Ibe Kachikwu over the weekend commenced the monthly publication of its provisional financial and operational reports. A …

Governor Aminu Tambuwal of Sokoto State has said that the state government will engage in massive dry season farming in order to tackle food shortage and mitigate the effect of this year’s flood which destroyed farmlands in different parts of the state. As part of measure to actualise the plan, …

Royal Dutch Shell has asked ship owners exporting its Nigerian oil to sign a “letter of comfort” (LoC) to guarantee it is not stolen, according to an email from the company.. In July, Nigerian National Petroleum Corporation (NNPC) banned more than 100 tankers from Nigeria’s waters, citing a directive from …

Managing Director of Nigerian Ports Authority (NPA) Mallam Habib Abdulahi has called for the provision of adequate port infrastructure by the Federal Government and the private sector to facilitate export activities through the nation’s seaports. Abdulahi, also pointed out that other factors which might be extraneous to the Authority are …

The Chief of Army Staff (COAS), Lt. General Tukur Buratai has commended Management of the Nigerian Maritime Administration and Safety Agency (NIMASA) for its efforts in combating sea piracy and other criminal activities on Nigeria’s water ways. General Buratai who said this when the Acting  Director General of NIMASA, Mr. …

By MUHAMMAD TUDUNWADA, KANO The President of the Harmonized Traders Union, Dr Bature Abdulaziz, has drawn the attention of the new boss of the Nigerian Customs Service, NCS, Col. Hamid Ali, to the continuing illegal smuggling of contraband goods by some dubious persons through some porous borders in the northern …

Shell Nigeria Exploration and Production Company Ltd (SNEPCo) has announced the start-up of production from the Bonga Phase 3 project. Andrew Brown, Shell’s Upstream International Director, said: “This new start up is another important milestone for Bonga, adding valuable new production to this major facility.” Bonga Phase 3 is an …

The Debt Management Office (DMO) has helped to facilitate bailout for 23 states of the federation by working out an arrangement under which their domestic debts were restructured for repayment over a much longer period. Director General of DMO, Dr. Abraham Nwankwo, disclosed this on Friday while speaking at a …

Nigeria is expected to experience growth in the medium term helped by higher oil prices and the implementation of reforms, according to the Institute of Chartered Accountants in England and Wales (ICAEW)’s latest Economic Insight report. The report also posits that Africa is now positioning itself as a major business …

Mercedes-Benz put on yet another spectacular display at the famous International Motor show, popularly known as the IAA (International Automobile Ausstellung). The show, which usually holds in Frankfurt, Germany for passenger cars, held between the 15th and 27th of September (Press days included), was once again a tremendous success. Whilst …

Africa’s leading cement manufacturer, Dangote Cement is set to commission its new 3.0 million metric tonnes per annum cement plant located in Mtwara District of Tanzania on October 10, 2015. The company will also hold the ground breaking ceremony for 25 hectares of Jetty land at Mgao village in Mtwara …