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Daily Archives: March 23, 2020

Coronavirus Hits 36, NCAA Shuts Down Lagos, Abuja Airports

Minister approves international status for Asaba airport

…Reps refuse medical screening at airports By Ayoola Olaitan Nigerian Civil Aviation Authority, NCAA, has shut down the two remaining international airports as Coronavirus cases rises to 36 in Nigeria, with 33 active cases, 2 discharged and one dead. The ...

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Closure: 66 border communities’ filling stations get waivers

Closure: 66 border communities’ filling stations get waivers

The Federal Government has approved waivers for 66 filling stations located within border communities to lift and supply petroleum products, our correspondent gathered on Sunday. In November 2019, the Federal Government banned the supply of petroleum products to filling stations ...

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Eko Hotels closes parts of facility over coronavirus

Eko Hotels closes parts of facility over coronavirus

Eko Hotels & Suites has announced a partial closure of parts of its services for at least three weeks over COVID-19. The management on Sunday stated on its Instagram page that only a part of Eko Signature and Eko Hotel ...

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Russia blames Gulf nations for oil price crash

Russia blames Gulf nations for oil price crash

Russia never sought a sharp oil price fall or an end to cooperation with Organisation of Petroleum Exporting Countries, and the Gulf nations are to blame for the crisis on the global oil markets, a senior Russian official has said. ...

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ABCON directs BDCs to comply with N380/$ official rate

ABCON directs BDCs to comply with N380/$ official rate

*Urges forex end-users to report violation The Association of Bureaux De Change Operators of Nigeria (ABCON) has directed bureaux de change (BDCs) across the country to comply with the new official exchange rate of N380 per dollar as well as ...

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How import substitution can alleviate pains of devaluation

CBN giveHow import substitution can alleviate pains of devaluations 15 microfinance banks new licences

There are several reasons nations devalue their currencies. Some devalue currencies to combat trade imbalance. Others devalue their currencies to enable their exports become less expensive and competitive globally. This makes imports more expensive, such that local consumers are less ...

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Nigeria consumed N2.64tn petrol in 13 months, says NNPC

Nigeria consumed N2.64tn petrol in 13 months, says NNPC

The Nigerian National Petroleum Corporation said on Sunday that it sold a total of 21.51 billion litres of petrol worth N2.64tn from December 2018 to December 2019. The NNPC said the sale of white products from December 2018 to December ...

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Obaseki, Oshiomhole working to end rift – Gov’s aide

Obaseki, Oshiomhole working to end rift – Gov’s aide

The Edo State Governor, Godwin Obaseki, and his estranged political godfather, Adams Oshiomhole, have commenced consultations to end the political rift between them. Obaseki’s Chief of Staff, Mr Taiwo Akerele, revealed this while responding to questions from reporters during an ...

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