Murtala Muhammed International Airport and 13 Others Commences Full Domestic Operations

The Federal Government through the Minister of Aviation, Hadi Sirka, has approved the resumption of domestic flight operations in 14 airports after months of closure due to lockdown caused by the outbreak of COVID-19 pandemic.

COVID-19 Palliative: BOI Support The Most Hard-Hit Economic Sectors

The Bank of Industry (BOI) is gradually reviewing its strategies to ensure that those business enterprises that were hard-hit by the coronavirus lockdown are being supported. Accordingly, the BOI is targeting those in agro-processing, food processing, technology, healthcare, and pharmaceuticals to stimulate economic recovery and growth. During a virtual seminar presentation by, Kayode Pitan, the Managing Director of the bank on “overcoming business challenges presented by the pandemic”, said the move was an additional response to the significant changes in the global and local operating landscape.

Naira Devalued Further, Now N389 To A Dollar

The Naira plunged further down against the U.S Dollar on Friday, both at the investor’s window and the parallel market. The Nigerian currency closed at N389.50 to the dollar at the investor’s window, down by 1.50 points from N388 which it traded on Thursday, while at the parallel market it traded at N472.5 to the dollar, down by 0.5 points from N472 exchanged on Thursday.

Crude Oil Prices Decline As Traders Center On OPEC Meeting

The prices of crude oil plummeted on Monday morning during the London trading session, as oil traders fixed their attention on an OPEC technical meeting billed to hold on Wednesday. The OPEC meeting is expected to suggest a relief in the control of oil production that has assisted the rally of crude oil prices in recent months.

Crude Oil Gains Regardless Of Surge In U.S Oil Inventories

Crude oil prices gained some ground on Thursday, at London's trading session, despite a surprise surge in U.S. crude oil inventories, while a persistent surge in new coronavirus cases continued to dampen the recovery in fuel demand.

Federal Government Hands-Off On Petrol Subsidy

The Federal Government has declared that it can no longer bear the burden of petrol subsidy. The disclosure was made by the Minister for State for Petroleum Resources, Timipre Sylva on Thursday. According to him, the government has realized that is was unrealistic to continue with the burden of subsidizing petrol to the tune of trillions of naira on an annual basis which is beneficial to the rich.

Food Prices: Inflation Rate In Ten Months Remain Positive

The Nigerian Bureau of Statistic's latest CPI report shows that Nigeria's inflation rate increased further in June 2020 to 12.56%. The rate of increase in May 2020 was 12.4%, a 0.16% points rise between the two months was recorded owing to restrictions on access to foreign exchange and continued border closures.

Naira Devalued Again, Forex Turnover Falls By 88%

The Naira declined by 88% on Wednesday at the Investors and Exporters (I&E) window weakening the exchange rate to N386.76 to a dollar, as compared to the N386.50 that was reported on Tuesday, July 7, representing a 25 kobo drop.

Okonjo-Iweala Pledges Strong Collaboration, Shared Prosperity Plans At WTO Screening

Dr. Ngozi Okonjo-Iweala, Nigeria’s candidate for the position of the Director-General of the World Trade Organisation (WTO) has assured member countries of shared prosperity and support for small and medium enterprises as she plans to rejuvenate the WTO if given the opportunity.

Top Officials Affected In NNPC Shake Up

The Nigerian National Petroleum Corporation (NNPC) has on Sunday announced the appointment of new top management staff in a major reorganization in the government-owned firm.
This was made known in a press release issued by the Group General Manager, Public Affairs Division, Dr. Kennie Obateru.