Business

NEW TAX LAWS WILL KILL AIRLINES – OPERATORS The Airline Operators of Nigeria (AON) has said the implementation of tax reforms will sound a death knell for domestic carriers operating in Nigeria. Vice-President of the AON, Mr. Allen Onyema, declared that domestic airlines would close up in 48 hours after the implementation of the tax law. President Bola Ahmed Tinubu …

EERC MOVES TO RESOLVE SHORTAGE OF POWER SUPPLY IN PARTS OF ENUGU The Enugu State Electricity Regulatory Commission, EERC, says it is taking steps to resolve the sudden electricity supply shortages that have plunged parts of the country into an acute power shortage. Recall that MainPower Electricity Distribution Company Limited had last week issued a statement where it blamed the …

COCOA OVERTAKES CRUDE OIL AS NIGERIA’S MAJOR EXPORT TO BELGIUM IN 2024 Amid the rise in cocoa production and export in Nigeria, shipments of the product to Belgium in 2024 overtook crude oil, Nigeria’s main export product, the Belgian Ambassador to Nigeria, Pieter Leenknegt, has said. Nigeria has been experiencing a substantial increase in cocoa export revenue, fuelled by the …

ENUGU STATE ELECTRICITY REGULATORY COMMISSION’S OPTION The controversy over the Enugu Elec tricity Regulatory Commission’s decision to lower the electricity rate charged within its domain by the Enugu Electricity Distribution Company, is a case in point. The reasoning that electricity distribution companies can charge the same rates across all 36 states in Nigeria is a myth. Effecting the Band ‘A’ …

ENUGU BUSINESS OWNERS CRY OVER TOTAL BLACKOUT IN COAL CITY Many business owners in some parts of Enugu State, on Friday, said the current total blackout in their areas had become a threat to their businesses. They therefore called on the government to intervene urgently. Emeka Onah owns a plastic crushing factory along Anglican Road at Nsukka. He stated that …

ELECTRICITY UNION, OTHERS SEEK REVERSAL OF POWER, WATER SECTORS PRIVATISATION The National Union of Electricity Employees, NUEE, and the Amalgamated Union of Public Corporation, Civil Service Technical and Recreational Services Employees, AUPCTRE, have called on the Federal Government to urgently revoke the privatisation licences granted in the power and water sectors. In a joint statement, the unions declared: “We as …

TINUBU APPOINTS 39 YEAR OLD CHAIRMAN/CEO OF NERC, TWO NEW COMMISSIONERS FOR NERC President Bola Tinubu has nominated Abdullahi Garba Ramat as the new Chairman/Chief Executive Officer of the Nigerian Electricity Regulatory Commission (NERC). Mr Ramat, 39, is an electrical engineer and administrator, with a PhD in Strategic Management, among other qualifications. President Tinubu also nominated two commissioners for the …

TOP 10 MOST INDEBTED STATES IN NIGERIA AS OF Q1 2025Despite a marginal 4.89% year-on-year (YoY) decline in total subnational debt, Nigeria’s 10 most indebted states saw their combined debt rise by 2.49% YoY in Q1 2025, reaching N2.48 trillion, up from N2.42 trillion in Q1 2024. The debts of these states combined now account for 64.05% of the country’s …

ABUJA OVERTAKES LAGOS AS FOREIGN INVESTMENT DESTINATION The Federal Capital Territory (FCT) has emerged as the top destination for foreign investment into Nigeria, according to a report by the National Bureau of Statistics (NBS). The report titled Nigeria Capital importation, Q1 2025, said the FCT attracted $3.04bn to come first from the $2.54bn Lagos attracted during the period. Daily Trust …

TINUBU’S HARSH ECONOMIC POLICIES WIPED OUT MIDDLE CLASS — FALANA Falana noted that despite the President recently acknowledging the economic hardship faced by citizens, his policies have further deepened poverty. Human rights lawyer, Femi Falana, has criticised President Bola Tinubu’s economic reforms, stating that the administration’s “harsh neoliberal policies” have decimated Nigeria’s middle class and worsened living conditions for millions …