LAGOS JULY 26TH (NEWSRANGERS)-The naira crossed the N1,600 mark against the dollar at the official foreign exchange market on Thursday. FMDQ data on Thursday showed that the naira depreciated to N1,603.80 per dollar on Thursday from N1,586.71 traded on Wednesday, recording a N17 loss. Similarly, at the black market, the naira further depreciated to N1,593…
LAGOS JULY 24TH (NEWSRANGERS)-NNPC Group Chief Executive Officer, Mele Kyari, says he does not own a blending plant in Malta, adding that he does not know of any employee of the Nigerian National Petroleum Company Limited who owns such a facility in the island country in Europe. Kyari, in a Tuesday post on X (formerly…
LAGOS JULY 24TH (NEWSRANGERS)-The President of the African Development Bank (AfDB), Nigeria’s Akinwumi Adesina, yesterday waded into the ongoing public squabble between the President of the Dangote Industries Limited (DIL), Alhaji Aliko Dangote and the management of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). Expressing his opinion on the matter, Adesina described the…
LAGOS JULY 23RD (NEWSRANGERS)-An Abuja High Court has issued a major ruling mandating the sale of aircraft, hangars, and other movable assets owned by Arik Air Limited. Specifically,the court directed sale of the aircraft with the registration numbers B737-700/5N-MJF, B737-800/5N-MJQ, DASH8-Q400, and 5N-BKX. This decision comes as a result of the airline’s substantial outstanding debts…
LAGOS JULY 23RD (NEWSRNAGERS)-Africa’s richest man Aliko Dangote says some staff members of the Nigerian National Petroleum Company (NNPC) Limited and oil traders operate a blending plant in Malta, an island country in Europe. Dangote stated this over the weekend when he received the leadership of the House led by Speaker Tajudeen Abbas and his…
LAGOS JULY 23RD (NEWSRANGERS)-Fifty-eight of the 164 member states of the World Trade Organisation (WTO) members have voiced support for a proposal from the African Group backing incumbent Director General, Ngozi Okonjo-Iweala, to serve a second term. The 58 member countries of the trade association made this known at a July 22 meeting of the…
LAGOS JULY 23RD (NEWSRANGERS)-Fidelity Bank Plc has recorded an average annual profit growth of 64 per cent over the past three years, underlining its resilience as one of Nigeria’s fastest growing companies. The bank has also seen rapid expansion in customer base and assets as total balance sheet size leapt from N2.1 trillion to N6.2…
LAGOS JULY 22ND (NEWSRNAGERS)-Nigerian airline operators have attributed the recent surge in airfares to inflation and foreign exchange volatility. Obiora Okonkwo, COO of United Nigeria Airlines, stated that the current economic challenges are significantly affecting the aviation sector. Domestic airlines have pointed to a stagnant economy and high inflation as primary reasons for the fare…
