March 11, 2020

Turkish Airlines has announced the cancellation of all its flights to Lagos, Abuja and Port-Harcourt to avoid the further spread of the coronavirus.

The airline which flew in the current index case to Nigeria in a statement, said the cancellation of flights to its three destinations in Nigeria was to contain the spread of Coronavirus ravaging the world.

The statement explained that the cancellations will start for flights originally s...

February 21, 2020

The World Bank yesterday approved six projects, worth $22.2 billion to support Nigeria's development priorities in key areas of improving immunization and enabling a stronger business environment for the private sector.

Others are, expanding the digital economy to promote job creation, and increasing public and private sector capacity on governance and social and environmental safeguards.

Commenting on the approved programmes, the Wor...

February 10, 2020

The World Bank has confirmed that discussions on its first tranche of the $3bn loan request to Nigeria have reached advanced stage and projected that the sum would be approved and given to the Nigerian government this year..

The Bank told Daily Trust exclusively that the first operation/loan will be approved this year but didn't say how much it would approve in the first tranche. However, checks by our correspondent revealed that it...

January 31, 2020

The ground breaking ceremony for the setting up of an agricultural company for transforming small holder farmers into commercial producers and the production of tomato paste has been performed in Kaduna.

The firm which has a $5m investment in tomato processing has pledged to produce 10 percent of the tomato paste to be consumed in Nigeria.

The Managing Director of Tomato Jos Farming and Processing Limited, Mira Mehta, said with over f...

January 29, 2020

Air Peace, Nigeria will soon commence flight to Mumbai, India.

Chairman and Chief Executive Officer of Air Peace, Mr. Allen Onyema, hinted that the Mumbai flight may commence by the end of March.

Briefing newsmen in Lagos, Onyema also disclosed that the Federal Government had granted approval to the airline to operate direct flight to Tel Aviv, Israel.

Air Peace is the only Nigerian carrier operating international flight with the Sharj...

January 7, 2020

The Federal Government has promised to lift 100 million Nigerians out of poverty by providing enabling environment for small businesses.

The Minister of Finance, Zainab Ahmed Shamsuna, stated this in an interview with NTA, which was quoted and published on the ministry’s twitter handle Monday morning.

The tweet said: “President Muhammadu Buhari has directed that we must pull 100m Nigerians out of poverty and that is our major focus”....

September 27, 2019

The Federal Government and World Bank are in talks for as much as $2.5 billion in a new tranche of concessionary lending to Nigeria, the bank's Vice President for Africa Hafez Ghanem has said.

In the past year Nigeria received $2.4 billion from the World Bank, Ghanem said in an interview with Bloomberg in Abuja on Wednesday.

"We're talking about a new set of programs of about the same amount, it should be around $2.5 billion," he said...

September 20, 2019

 The West African currency, CFA Franc, has crashed against the Naira to a new record low at the open market trading at 5680 CFA to N1000 due to the closure of Nigeria's land borders.

The nation's borders in four regions were shut down at the instance of a directive from the Office of the National Security Adviser (NSA) owing to the state of insecurity in the country.

Currently, the CFA has plummeted at the open market from 6890 before...

August 14, 2019

Republic of Congo could produce nearly 1 million barrels of crude per day following a new oil discovery in the country, a company involved told Reuters on Monday.

The find could possibly quadruple the nation's output and propel it into the same league as Africa's largest producers.

Production, which will be ramped up in phases, could begin in six months. If it reaches expected levels, Congo's production would be close to Nigeria, whic...

August 2, 2019

Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, on Wednesday, said the national oil company was not in contest for market share with the upcoming Dangote Refinery but rather providing support to the promoters of the project to boost in-country refining capacity.

Speaking while receiving the President and Chief Executive Officer of Dangote Group, Alhaji Aliko Dangote, at the NNPC Towers, K...

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