Daily Archives: September 2, 2020

Aviation Conundrum: Passenger Demand Declined By 79.8% in July

Aviation Conundrum: Passenger Demand Declined By 79.8% in July

By Ayoola Olaitan The global aviation industry has recorded 79.8% decline in passengers in July 2020 in comparison to July 2019 levels. This, however, was somewhat better than the 86.6% year-over-year decline recorded in June. Air travel remains largely closed ...

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CBN Set N5bn Minimum Capital Base For Mobile Money Operators

CBN Set N5bn Minimum Capital Base For Mobile Money Operators

The Central Bank of Nigeria, CBN, has set N5 billion as minimum capital base for Mobile Money Operators in Nigeria. The apex bank is also willing to grant more licences for payment service banks. Revealing this in a circular, CBN ...

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Nigeria loses $55 million daily to port congestion

Nigeria loses $55 million daily to port congestion

Widespread congestion at the Nigerian ports is costing the nation about $55 million (about N20.8 billion) per day, going by the latest report by Dynanmar. The Dutch consultancy firm said solutions to the persistent congestion at Nigerian ports are multiple, ...

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BUA picks France’s Axens for 200,000bpd refinery project

BUA picks France’s Axens for 200,000bpd refinery project

BUA Group Plc has selected France’s Axens for a multibillion-dollar 200,000 barrel per day refinery and petrochemicals plant in Nigeria, the French company said in a statement on Tuesday. Axens, which makes systems to convert oil and biomass to cleaner ...

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Petrol price should be about N155/litre – Marketers

Petrol subsidy gulped N8.94tn in 10 years, says PPPRA

The pump price of petrol should be closer to N155 per litre, the Chairman of the Major Oil Marketers Association of Nigeria, Mr Adetunji Oyebanji, has said. Oyebanji, who is the managing director/chief executive officer of 11Plc (formerly Mobil Oil ...

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Sanwo-Olu meets FAAN team, seeks remodelling of Murtala Muhammed International

Sanwo-Olu meets FAAN team, seeks remodelling of Murtala Muhammed International

Lagos State governor, Mr. Babajide Sanwo-Olu, yesterday, met with the management team of the Federal Airport Authority of Nigeria (FAAN) ahead of next Saturday’s reopening of airspace for international flights, urging a remodelling of the Murtala Muhammed International Airport (MMIA). ...

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NLC, MAN, others kick against electricity tariff hike

Hike: Electricity consumers to pay N417.09bn in four months

• Labour vows to resist, warns NERC against playing the ostrich •Hike can contract economy in Q3 & 4 – MAN • Inspire confidence in consumers through metering – LCCI Electricity consumers, labour unions and key stakeholders in the economy ...

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