Following a meeting with the Executives of Airline Operators of Nigeria (AON) on the issue bordering on helicopter landing levies collection at aerodromes, helipads, and air strips, among others, the Minister of Aviation and Aerospace Development, Festus, has temporarily suspended the enforcement granted to Messers NAEBI Dynamic Concept Ltd, by the Federal Government as […]
Nigeria may add 480,000 barrels to its daily crude oil output as the Nigerian National Petroleum Company Limited and ExxonMobil took a step towards resolving the disagreement surrounding the sale of the latter’s asset to Seplat Energy. On Thursday, the NNPCL confirmed it had signed a settlement agreement with ExxonMobil companies in Nigeria over […]
Heineken Lokpobiri, minister of state for petroleum resources (oil), says petrol subsidy has been scrapped but the Nigerian National Petroleum Company (NNPC) Limited can intervene occasionally. On May 29, 2023, President Bola Tinubu said the petrol subsidy regime was over — a declaration that pushed petrol costs significantly higher. Speaking on Wednesday during an […]
No fewer than 20 former employees of Dana Air, on Tuesday, expressed grievance over the management’s failure to pay their salaries and contributory pensions. The staff, who were laid off after the Nigerian Civil Aviation Authority, NCAA, suspended the airline’s operations over a runway excursion incident, called for the payment of their pensions as […]
The Central Bank of Nigeria (CBN) has raised the interest rate to 26. 25 per cent. More to follow…
The Nigerian Safety Investigation Bureau (NSIB) has released the preliminary report on the incident involving an MD 82 aircraft belonging to Dana Air which skidded off the Lagos airport runway on April 23, 2024. The report revealed how severe vibration accompanied by a loud noise from the NLG area of the aircraft was noticed […]
The naira appreciated in the parallel section of the foreign exchange (FX) market on Friday. At the Lagos street market, currency traders, also known as bureau de change (BDC) operators, quoted the naira at N1,510 to the greenback. The traders put the buying price of the dollar at N1,480 and the selling price at […]
The Nigeria Customs Service (NCS) has adjusted the foreign exchange (FX) rate for import duties to N1,530 per dollar. This represents a 6.13 percent increase compared to the N1,441.58 adopted on May 6. The rate adopted by customs was observed on Friday on the federal government’s single window trade portal. Customs typically adopt FX […]
Dangote refinery plans to buy 24 million barrels of crude from the United States over the next year as it increases processing rates. According to a report on Thursday by Bloomberg, the plant issued a “term tender” for the purchase of two million barrels of West Texas Intermediate (WTI) Midland crude a month. The […]
Emirates Airlines has announced flight operations to Nigeria will resume on October 1, 2024. In a statement on X, Emirates Airlines said it will resume services “to Lagos from 1 October 2024, and we can’t wait to offer unrivalled connectivity to Dubai and beyond to over 140 cities”. More to follow…
