Asset Management Corporation of Nigeria (AMCON) has appealed to the National Assembly to reform the aviation sector for the emergence of Arik Airlines as the nation’s national carrier. AMCON’s Managing Director/Chief Executive Officer, Mr Ahmed Lawan Kuru made this appeal in Abuja when he appeared before the Senate Committee on Banking, Insurance and other Financial Institutions led by Senator Uba ...

President Donald Trump on Friday pressured U.S. companies to leave China and promised to hike tariffs further after Beijing unveiled retaliatory duties on US$75-billion in U.S. goods, stoking fears their escalating trade war will tip the global economy into recession. Mr. Trump, who has accused China of unfair trade practices and pushed for a deal that would rebalance the relationship ...

President Muhammadu Buhari has approved an amendment to the excise duty rates for alcoholic beverages and tobacco with effect from Monday, 4th June, 2018. The President has also granted a grace period of 90 days (three months) to all manufacturers before the commencement of the new excise duty regime. There is, however, no increase in excise duty of other locally ...

There are bold hints that the Federal Government will soon resume its retrenchment exercise in the agencies under the Aviation Ministry. The Minister of State for Aviation, Senator Hadi Sirika, disclosed this on Saturday night during his second Aviation Stakeholders’ Forum in Lagos. Mr. Sirika explained that there are at least 88 General Managers on Grade Level 17 in the three agencies in the sector, ...

According to data obtained from the United States Department of Agriculture, the value of wheat imported into Nigeria between January and September 2016 is $660m. Also, data published in the Nigerian Ports Authority Shipping Position on Friday indicated that the value of imported bulk wheat that arrived Nigeria in the first week of November was approximately 53,196. 989MT valued at ...

According to IANS Pakistan, Nigeria’s government has completed the agreement to buy 10 Super Mushshak aircraft from Pakistan to boost its air power for the Nigerian Air Force. Based on the 2016 Nigerian defence budget, the NAF plans to ORDER up to 20 JF-17s from PAC at a cost of $25 million(N8 Billion today’s naira), while the cost of the ...

Ethiopia has accused elements in Eritrea and other countries of fanning the crisis in the country that culminated in the burning of factories owned by Nigeria’s Aliko Dangote and other foreign investors. In a statement today, Ethiopia accused elements in Eritrea, Egypt and other states  of arming, training and funding groups that it blames for a wave of protests and ...

The Bank of Industry has expressed its readiness to partner entrepreneurs in tailoring its funding to achieving greater economic impact. The bank urged customers and would-be beneficiaries to come forward with inputs that would enable it to serve them optimally. The Acting Managing Director, BoI, Mr. Waheed Olagunju, who spoke through bank’s Divisional Head, Small and Medium Enterprises, South, Mr. Mohammed ...

Stiff competition, among other factors, saw leading brewer, Guinness Nigeria Plc recording a loss for the first time in 30 years for the year ended June 30, 2016, writes Goddy Egene Investors in the Nigerian stock market who invest for dividend cannot ignore Guinness Nigeria Plc. The brewing giant is one of the regular dividend payers in the market, delighting ...

The Bank of Industry (BoI) has ‎charged local manufacturers in the country to produce to meet international best practices, noting that this is the way to become competitive and attractive at the global market place. ‎The acting Managing Director, BOI, Waheed Olagunju, while speaking during a tour of a livestock farming value chain infrastructure cluster by Project Fix, in Lagos, ...