Within 16 months, the 11 Distribution Companies (DisCos) in Nigeria lost the capacity to pay N484.993 billion of the N1.084 trillion invoices they received for the electricity they received from the power Generation Companies (GenCos) between January 2021 and April 2022. This development further confirms the concerns of experts about the ailing state of […]
Imo state government has described as distasteful and cheap blackmail the claim by Innoson Motors that it is owing the company N2.5b being cost of the vehicles it supplied to it some months ago, insisting that the company’s claim are half truths ,intended to impugn on the integrity of the state government for ulterior […]
Elon Musk on Friday filed claims against Twitter as he fights back against the tech firm’s lawsuit demanding he be held to his $44 billion buyout deal. Musk’s counter-suit was submitted along with a legal defense against Twitter’s claim that the billionaire is contractually bound to complete the deal he inked in April to […]
United Arab Emirates (UAE), says it will reduce its flight operations to Nigeria over the inability to repatriate about $85 million in revenue. Last month, the International Air Transport Association (IATA) said Nigeria was withholding revenue worth about $450 million earned by foreign airlines operating in the country. The airline said this in a […]
AIR travellers have begun groaning bitterly under the prohibitive fares airline operators have rolled out for flights within Nigeria as a one-hour flight now costs over a hundred thousand (N100, 000) naira. When The PUNCH visited the domestic wings of the Lagos airport on Tuesday, many of the travellers lamented the sharp increase in […]
No fewer than 131 airlines registered to operate in Nigeria’s domestic airspace under scheduled and non-scheduled flight have gone into extinction largely due to hostile operating environment as well as bad management. Scheduled flights are those which get their schedule approved by the aviation regulator in advance for a period running into months. Non-scheduled […]
Pat Utomi, a professor of political economy, says Nigeria is currently in a “vulnerable” position because the country depends on importation. Utomi spoke on Thursday in an interview with Channels Television. There have been concerns over the rising cost of food items, and the country’s inflation rate hit a five-year high in June 2022. […]
The Federal Executive Council has given approval to Nigeria Air to lease aircraft to start operations. The Minister of Aviation, Mr Hadi Sirika made the announcement while briefing State House correspondents after the council meeting chaired by President Muhammadu Buhari at the Presidential Villa in Abuja on Wednesday. The Minister, who didn’t disclose when […]
The Nigerian National Petroleum Company Limited (NNPCL) has reportedly offered a “tempting” package for workers willing to accept voluntary retirement. A week ago, President Muhammadu Buhari unveiled the NNPC Limited, positioning it to operate as a profit-oriented company. On the sidelines of the event, Mele Kyari, group chief executive officer (GCEO) of the company, […]
The lawmaker representing Kogi West Senatorial District and the Chairman of the Senate Aviation Committee, Senator Smart Adeyemi, has said that wealthy Nigerians stealing and exporting the Jet –A-1 are responsible for the scarcity of aviation fuel in the country. Adeyemi, who spoke to The PUNCH, said that this situation had added to the […]
