The National Bureau of Statistics(NBS) has disclosed that the average Nigeria’s domestic airfare for a single journey rose by 25.51 percent on a month-on-month basis to N123,700 in August 2024 compared to N98,561 in July. The Bureau made this disclosure in its Transport Fare Watch released on Tuesday, 24 September, 2024. The data showed that on a year-on-year basis airfare cost climbed by 56.56 percent to N123,700 in August 2024 from N79,011.38 in the corresponding month last year. NBS said that Niger state has the highest air transport charges (for specified routes and single journeys) with N129,575.21, followed by Federal…
Author: Abimbola Ogunaike
Key players in the Nigerian business and economic sector have raised alarm over the recent interest rate hike by the Central Bank of Nigeria (CBN) Monetary Policy Committee. President of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture, Dele Oye and the President of the Association of Small Business Owners of Nigeria, Femi Egbesola in separate statements on Tuesday, 24 September, 2024 said the CBN interest rate to 27.25 percent would impact heavily on the growth of businesses and investments in Nigeria. Their concerns come as the CBN MPC in a unanimous decision by members announced a…
The Lagos State Government has sealed the Celestial Church of God, the Redeemed Christian Church of God and seven companies and hotels in Ikeja, Mushin, Gbagada, and Maryland areas of the state. The state Commissioner of Environment and Water Resources, Tokunbo Wahab made this disclosure in a statement through his X account on Wednesday, 25 September, 2024 Quoting Lagos State Environmental Protection Agency(LASEPA), he stated that the crackdown is aimed at tackling noise and other environmental violations in the state. Among the sealed companies are: Vital Products Limited, A & P Nigeria Limited, Polite Anchorage and Suites, Terrag Inn Apartment,…
A German grandmother and her five-month-old grandson are missing after a flash flood swept through their holiday home near Pisa, Tuscany. It was gathered that the tragedy unfolded when the nearby River Sterza overflowed its banks, inundating the house where the family was staying. The family, on vacation in Italy, called emergency services on the evening of Monday, 23 September, 2024 as floodwaters began pouring under their door. However, a language barrier and difficulties in locating the family delayed rescue efforts. According to the mayor of Montecatini Val di Cecina, Francesco Auriemma, as the family attempted to reach higher floors…
At least five police officers of the Kano State Police Command died and 11 others injured in a ghastly road accident that occurred at Karfi town in Kura Local Government Area of the state. The Kano State Police Command Public Relations Officer, SP Abdullahi Kiyawa, who confirmed the sad incident on Tuesday, 24 September, 2024, added that said 11 other police officers sustained varying degrees of injuries in the crash. “The accident occurred at Karfi, a few kilometres to Kano and five of the officers died as a result of the accident while 11 others sustained injuries. “It was gathered…
The Central Bank of Nigeria (CBN) has explained that monthly revenue releases by the Federal Account Allocation Committee (FAAC) are impacting Nigeria’s foreign exchange pressures. The Governor of CBN, Olayemi Cardoso made this disclosure in his remarks after the CBN 297th Monetary Policy Committee meeting held on Tuesday, 24 September, 2024. The Apex Bank boss, who raised alarm over the growing level of fiscal deficit in the country, added that members of MPC have observed a strong correlation between FAAC and the Liquidity level in the banking system and exchange rates. “Members were also concerned about the growing level of…
As parts of efforts to boost liquidity in the country, the Central Bank of Nigeria(CBN) has disclosed that it will N1.4 trillion into the financial sector. The Governor of the CBN, Olayemi Cardoso, made this disclosure on Tuesday, 24 September, 2024 during a press conference at the end of the 297th Monetary Policy Committee. Responding to questions on cash insufficiency in banks’ Automated Teller Machines (ATM), Cardoso said the apex bank is working to provide a solution. According to him, the bank will impose sanctions on banks sabotaging the system. “Another N1.4 trillion is likely to be delivered in another…
The Academic Staff Union of Universities(ASUU) has given the Federal Government a fresh 14-day ultimatum to resolve pending issues. ASUU President, Emmanuel Osodeke, who stated this in a statement issued on Wednesday, 25 September, 2024, said they were frustrated with the government’s lack of commitment and delay tactics. Hence, it has given the President Bola Tinubu government a 14-day ultimatum which starts on Monday, 23 September 2024. The statement read: “In view of the foregoing, ASUU resolves to give the Nigerian Government another 14 days, in addition to the earlier 21 days, beginning from Monday, September 23, 2024, during which…
Barely 24 hours after President Bola Tinubu wrote to the Senate, asking the House to screen and confirm Justice Kudirat Kekere-Ekun as the new Chief Justice of Nigeria, CJN, the Upper Chamber has screened her for the post. The Senate on Wednesday 25 September, 2024 confirmed the appointment of Justice Kudirat Kekere-Ekun as substantive Chief Justice of Nigeria after screening. Thegazellenews.com reports that Kudirat Kekere-Ekun has been serving as CJN in an acting capacity since August following the retirement of Olukayode Ariwoola. At the commencement of the screening on Wednesday, 25 September, 2024, Kekere-Ekun was accompanied by Justices of the various courts…
The European Union has released €5.4 million in humanitarian aid to help the most affected populations in the aftermath of the devastating floods in Chad, Niger, Nigeria, Cameroon, Mali and Burkina Faso. Nigeria, according to a statement on Monday, 23 September, 2024, would be getting €1.1 million. More than 4.4 million people are estimated to be affected in the six countries by floods which led to the destruction of houses, public health facilities, water systems, schools and sanitation facilities as well as roads, infrastructures, and agricultural areas. There is apprehension that the lack of access to water, hygiene, and sanitation…