Ethiopian Airlines

Ethiopian Airlines on Tuesday commenced flight operations to Kaduna with Boeing 737-800 aircraft, which landed at the Kaduna International Airport from Addis Ababa at noon carrying 17 passengers on board. Guardian news reports that the flight with registration number ET-9221, also departed for Addis Ababa at 1:30 p.m. with 10 officials of Kaduna State Government on board and other passengers.

Osinbajo

Acting President Yemi Osinbajo will visit Port Harcourt today to inaugurate the world’s biggest fertilizer plant built by Indorama Eleme Fertilizer and Chemicals Limited. Mr Laolu Akande, the Senior Special Assistant to the Acting President on Media and Publicity, made the announcement in a statement issued in Abuja on Wednesday.

9mobile

A group of Nigerian banks has agreed on an extension to a $1.2 billion loan made to 9mobile, formerly Etisalat Nigeria, pending when the mobile operator find new investors, FCMB bank said on Tuesday. Nigerian regulators stepped in last month to save Etisalat Nigeria from collapse and prevent lenders placing the country's fourth biggest telecoms group into receivership, prompting a board, management and name change.

The Nigerian Communications Commission (NCC) says resolving the Etisalat debt issue is an incentive to attract the two billion dollars Foreign Direct Investment (FDI) expected from Mubadala of United Arab Emirates (UAE). Prof. Umar Danbatta, the Executive Vice Chairman (EVC) of NCC said this in a statement by Mr Tony Ojobo, the Director, Public Affairs of the commission in Abuja on Wednesday.

Oil prices rose on Monday to hit a two-month high on Monday lifted by a tightening US crude market and the threat of sanctions against OPEC-member Venezuela, Reuters reported. Brent crude futures were 52.90 dollars per barrel earlier in the day, their highest since May 25. The upwards rise in the price was exacerbated as news of producers’ technical meeting slated for next week added to the bullish sentiment.

Activities on the Nigerian Stock Exchange (NSE) opened for the week on Monday on a bullish trend with the market capitalisation appreciating by N218 billion. Nigerian Stock Exchange The market capitalisation, which opened at N11.725 trillion, inched N218 billion or 1.86 per cent to close at N11.943 trillion.

NUPENG

The National Union of Petroleum and Natural Gas Workers (NUPENG) has threatened to begin a strike in the Federal Capital Territory (FCT) over a dispute with Assets Management Company of Nigeria (AMCON). At the end of National Executive Council meeting, Mr Igwe Achese, NUPENG President, said the strike was inevitable because of three billion naira terminal benefits allegedly owed some sacked oil sector workers.

DMO

The Debt Management Office has disclosed that the Federal Government spent $25.82bn (N7.88tn) to service its debts between 2012 and 2016.

In line with its constitutional mandate the Senate on Thursday approved external loans for 10 states totaling $750m for the financing of various projects for states across the country. The benefitting states are Kaduna, Ogun, Ebonyi, Abia, Katsina, Jigawa, Kano, Enugu, Plateau and Ondo.

The Nigerian Ports Authority (NPA) has disclosed that a total of 34 ships laden with petroleum products, food items and other goods are expected to arrive in Apapa and Tin-Can Island ports in Lagos from July 20 to Aug. 28.