Author: Mary Osisanya-Bello

Minister Keyamo has signed the IDERA to facilitate aircraft deregistration and boost Nigerian airlines’ access to dry-lease aircraft.Minister of Aviation and Aerospace Development, Festus Keyamo, on Wednesday in Abuja, signed the Irrevocable Deregistration and Export Request Authorisation (IDERA) Advisory Circular for the recordation and cancellation of leased aircraft in the countryKeyamo, who signed the document alongside Director-General, Nigeria Civil Aviation Authority (NCAA), Chris Najom, stated that the goal was to enable Nigerian airlines have access to dry-lease aircraft to boost operational capacity.The minister explained that the document was an international requirement that would further raise Nigeria’s scores in the world…

In a groundbreaking celebration of African creativity, Coca-Cola® has unveiled its latest limited-edition beverage, Coca-Cola® Wozzaah Zero Sugar, marking the debut of Coca-Cola® Creations in Nigeria. The launch took place in Port Harcourt and invites consumers to immerse themselves in Africa’s vibrant energy.Coca-Cola® Wozzaah is crafted to highlight Africa’s rich heritage, offering a unique flavor profile inspired by the continent’s diverse cultures and landscapes. This refreshing drink blends tropical notes with exotic fruits and spices, designed to appeal to both local and global taste preferences. Offered exclusively at select outlets across Nigeria, Wozzaah promises to deliver an unforgettable experience.Coca-Cola has…

CBN’s Cardoso has emphasised that controlling inflation is crucial for economic stability, affecting both households and businesses across Nigeria.The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has argued that curbing inflation remains a critical priority for the current administration, explaining that only then will the Nigerian economic have some level of stability.Speaking at the 30th Nigerian Economic Summit (#NES30) in Abuja, the CBN governor stressed that the general rise in the prices of goods and services is one of the most pressing challenges facing Nigeria at the moment, stressing that it was negatively impacting households and businesses.This…

In today’s world, financial literacy has become an essential life skill, particularly for the younger generation. Recognising this need, Wema Bank—Nigeria’s most innovative bank and pioneer of Africa’s first fully digital bank, ALAT—proudly introduces the ALAT XPLORE App, Nigeria’s first licensed banking app specifically designed for teenagers aged 13 to 17.The ALAT Xplore App empowers young individuals to take control of their finances while acquiring vital money management skills. ALAT XPLORE is not just another banking app; it is a comprehensive financial tool that seamlessly combines education, engagement, and empowerment for teenagers’ financial success. With a user-friendly interface and interactive…

The Federal Government of Nigeria, in collaboration with the International Fund for Agricultural Development, has recently highlighted the urgent need to invest in this demographic at the 2024 International Day of Rural Women Summit.IFAD-Value Chain Development Programme Knowledge Management and Communications Coordinator, Mrs Vera Onyeaka-Onyilo, disclosed this in a statement on Thursday.The event, held on October 15 at the African Union headquarters in Addis Ababa, Ethiopia, brought together key stakeholders focused on empowering women in agriculture.The summit, organised by the African Union and development partners, revolved around the theme: “Empowering Women Living in Rural Areas through Education and Access to…

Finance minister Edun has emphasised the need for aligning fiscal and monetary policies to combat inflation and stimulate Nigeria’s economic growth.The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun has stressed the importance of aligning fiscal and monetary policies to curb inflation, attract investment, and foster sustainable economic development.He spoke in Abuja at the opening of a two-day workshop on championing coordination between fiscal and monetary policies.The workshop which was organised by the Federal Ministry of Finance in partnership with the Central Bank of Nigeria (CBN), was aimed at strengthening the federal government’s technical capacity in…

Chinese multinational computer manufacturer Lenovo has been named the Official FIFA Technology Partner for the FIFA World Cup 2026 and FIFA Women’s World Cup 2027.In a statement released on Tuesday, Lenovo announced its role in providing cutting-edge devices and data infrastructure to FIFA, aimed at enhancing fan engagement and the quality of event broadcasts.Central to Lenovo’s sponsorship will be the integration of Artificial Intelligence, promising to elevate the experience for both fans and broadcasters.The Chinese company now joins the likes of Visa, Coca-Cola, Hyundai-Kia, Qatar Airways, Adidas, and Aramco as global partners of the football organisation—the highest level of sponsorship…

The FIRS has launched a USSD code to simplify tax payment processes and improve taxpayer satisfaction.The Executive Chairman, Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, on Wednesday, launched an Unstructured Supplementary Service Data (USSD) Code specifically targeted at improving taxpayers’ satisfaction.The move also seeks to enhance the ease of doing business in the country.The code was unveiled as part of activities making this year’s Customer Service Week with the theme, “Above and Beyond”.The initiative makes Nigeria the sixth African country to deploy USSD code for simplifying tax payment processes.Speaking at the ceremony, Adedeji said the instant messaging protocol demonstrated…

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has rejected Shell’s proposal to sell its onshore oil assets to the Renaissance Consortium, citing the consortium’s insufficient capacity to manage the assets. Contrary to reports suggesting that the $1.3 billion deal was still under consideration, sources says that the federal government has decisively turned down the proposal. Following a thorough evaluation, the NUPRC determined that the consortium lacked the necessary qualifications to handle the assets effectively. On January 16, Shell announced an agreement to sell its Nigerian subsidiary, the Shell Petroleum Development Company of Nigeria Limited (SPDC), to Renaissance, which consists of…

Air Peace CEO Allen Onyema has recognized the government’s efforts to facilitate business operations in Nigeria but is urging the removal of multiple charges imposed on airline operators. Speaking to reporters on Tuesday evening after a meeting with Vice President Kashim Shettima at the State House in Abuja, Onyema emphasized the need for easing the burden of numerous fees that airlines pay at airports to enhance the aviation sector’s business environment. While acknowledging the government’s significant strides in improving business conditions, Onyema stated, “Aviation worldwide has faced challenges since the COVID pandemic due to supply chain issues. This is not…

IHS Nigeria is sponsoring an Art Hackathon as part of activities leading up to the commissioning of the Ilorin Innovation Hub.The Art Hackathon is a celebration of creativity and innovation among young enterprising Nigerians. Artists from Kwara State and across Nigeria are invited to submit works that resonate with the themes of innovation, creativity and local community development, and display high technical proficiency. Selected artists will receive a cash prize of ₦500,000 for each work chosen and have their artwork displayed in the Ilorin Innovation Hub, providing an opportunity to leave their own legacy at the hub.For eligibility requirements and…

Africa’s tourism industry has long been a vital driver of economic growth, thanks to its unparalleled cultural experiences, breathtaking landscapes, and unique wildlife safaris. According to Statista, tourism contributed 5.9% to Africa’s GDP in 2022, up from 4.4% the previous year. As the world emerges from the pandemic, Africa’s tourism figures are expected to rise, with Europe playing a crucial role in this growth. But what does the future hold for marketing to European tourists, and how can brands ensure they stand out in a crowded marketplace? Evolving Preferences Among European Travelers European travelers are increasingly seeking authentic, sustainable,…

The naira has been identified as one of the weakest currencies in Sub-Saharan Africa this year, according to the latest edition of the World Bank’s report, Africa’s Pulse. By the end of August 2024, the naira had depreciated approximately 43% year-to-date, positioning it alongside the Ethiopian birr and South Sudanese pound as some of the region’s most troubled currencies. Several factors have contributed to the naira’s decline, including heightened demand for US dollars in the parallel market, limited dollar inflows, and delays in foreign exchange disbursements from Nigeria’s central bank. The World Bank highlights that the pressure on the naira…

With rising rates of obesity, diabetes, hypertension, and other cardiovascular diseases among young people, experts are urging the Nigerian government to raise taxes on Sugar-Sweetened Beverages (SSBs) to reduce consumption. Common SSBs include sodas, energy drinks, fruit juices, and iced teas. This call was made during a two-day journalism training on SSB tax and industry monitoring, organized by Corporate Accountability and Public Participation Africa (CAPPA) in Lagos. Experts argue that increasing the SSB tax from the current N10 to a globally recommended minimum of 20% of the final retail price could significantly curb excessive sugary drink consumption. They emphasized that…

Neos Airlines, the Italian flag carrier, is set to begin weekly direct flights from Italy to Lagos, Nigeria, starting October 30. The announcement was made by Sky Master, the airline’s handler, during a launch event in Ikeja, Lagos, attended by industry stakeholders, regulators, and prospective clients. Princewill Ogbonna, Managing Director of Sky Master, emphasized that the introduction of these flights will enhance the relationship between Nigeria and Italy. “Neos Airlines is a private carrier based in Somma Lombardo, Lombardy, and we are excited to commence direct operations to Nigeria using a Boeing 787-8 for the first month,” he stated. Ogbonna…

Transcorp Power Plc has announced a remarkable 153% increase in revenue, reaching N223.6 billion for the third quarter ending September 30, 2024. This growth is a significant improvement from the N88.4 billion reported in Q3 2023, according to the company’s unaudited results filed with the Nigerian Exchange on Monday. Profit before tax surged by 198% to N81.1 billion, up from N27.3 billion in the same quarter last year. Similarly, profit after tax rose by 186%, reaching N58.5 billion compared to N20.4 billion in Q3 2023. The company’s total assets also grew by 62%, climbing to N362.5 billion from N223.4 billion…

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has revealed that only six out of the 42 deep offshore licenses it issued in the past 30 years have been developed. This information was shared by Mr. Victor Otobo, Head of the National Oil and Gas Excellence Centre, who represented NUPRC Chief Executive Gbenga Komolafe at the recent Kenna Partners Energy Dialogue in Lagos. The event focused on the theme “Divestments, Re-Investments, Deep-Offshore Development and the Future of Oil and Gas in Nigeria.” According to a statement from Kenna Partners, Otobo highlighted the commission’s track record, stating, “The commission has granted 42…

Vice President Kashim Shettima has decried the impact of climate change on Nigeria, stressing that the intermittent power supply, perennial floods, and food crises are some of its adverse effects in Nigeria.Shettima, who spoke at the Africa Climate Forum 2024 in Abuja, said the climate-driven realities are vivid reminders that no nation in Africa is immune to climatre change consequences. His speech was made available to our correspondent.“Nigeria, like many other nations, has experienced first-hand the devastating effects of climate change. We have been at the mercy of unpredictable water bodies, perennial floods, disrupted livestock production, intermittent power generation, and…

National Assembly is considering an executive bill proposing to raise Nigeria’s Value Added Tax from 7.5% to 10% by 2025.The National Assembly has received an executive bill and is already considering the document which is proposing an increase in the Value Added Tax (VAT) paid by Nigerians from 7.5 per cent to 10 per cent, according to reports on Sunday.According to the report, the executive bill is seeking to raise the tax rate to 10 per cent by 2025, while the tax will further increase to 12.5 per cent by 2026 through 2029, if it gets the approval of the…

The family of Binance Executive Tigran Gambaryan has expressed deep distress over the denial of his bail, citing unlawful detention and urgent medical needs. Despite meeting all necessary requirements for bail on medical grounds, a court in Abuja denied Gambaryan’s release. His family, who described him as a U.S. citizen unlawfully detained since February 26, 2024, emphasized that it has been over 230 days since he last saw his wife and family. The family referred to statements from the EFCC prosecutor, who claimed Tigran was being charged because “the 1st defendant (Binance) is operating virtually. The only thing we have…