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Business & Economy

Delta stresses import of Nigerian market, celebrates 1 year ops from Lagos to New York-JFK

NIGERIA has been described by Delta Air Lines as an important Market as part of the airline marking a successful first 12 months of flying between Lagos and New York-JFK non-stop. Delta’s Commercial Director East and West Africa, Bobby Bryan made this known while stating that Delta’s Lagos-New York-JFK service …

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UBA says diversification, stable funding structure will strengthen bank despite operating environment

UNITED Bank for Africa (UBA) Plc has stated that its well diversified asset book supported by stable funding structure, has placed it in a prime position to perform remarkably despite the falling economic indices in its operating environment. This is just as the Bank has assured its local and international …

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Planned VAT increase: NECA cautions FG against implementation

NIGERIAN Employers’ Consultative Association (NECA), has said that the upward review of Value Added Tax (VAT) as being proposed by Federal Government is ill-advised and not the only option opened to government to fund the new national minimum wage. NECA, the umbrella body for organised private sector made this known …

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Apapa Customs command generates $5.505m in exports, adds N60bn to Federation account

The Customs boss noted that despite the lack of business activity due to the just concluded general elections, the command recorded N60bn as revenue generated from imports including N763m on export within January and February, 2019.

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Tony Elumelu Foundation to announce selected 1,000 entrepreneurs for 2019 Programme on March 22,

TONY  Elumelu Foundation (TEF), will announce the selected applicants for the 2019 cohort of the Foundation’s flagship Entrepreneurship Programme on March 22, 2019. The event, which marks the 5th round of the Foundation’s Entrepreneurship Programme, will take place at the Transcorp Hilton Hotel, Abuja. Every year, the Tony Elumelu Foundation …

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Shareholders approve 15k per share as dividend for Transcorp Hotels plc

Lauds company’s  impressive performance AFRICA’s leading hospitality brand, Transcorp Hotels Plc recorded a 26% increase in turnover, with shareholders unanimously endorsing a final dividend of ₦1.14bn for the 2018 financial year translating to 15kobo per ordinary share, which is a 20% improvement over the 12kobo per ordinary share for 2017. …

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Travel agencies are going into extinction as bookings decline 3.5 million in 2018 , ART declares

"Since 2014, in the last  5-6 years, the full booking that has been coming in year on year has been declining 7%, 5% and it has declined 3.5million bookings by 2018. This decline simply means our downstream sector is already seeing extinction and it concerns aviation round table.

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OVH Energy acquires new bowsers for Jet A1 fueling

OVH Energy Marketing Ltd, has announced its acquisition of brand new aircraft fueling bowsers as part of its expansion plans to deepen its service offerings in providing fueling solutions to players in the aviation industry. Manufactured by Flightline UK, the bowsers are equipped with latest technological and safety standards certified …

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UBA Group spreads tentacles further, launches full banking operations in the UK

“The enhancement of our business in the United Kingdom is very timely and mutually beneficial for African and European corporates as well as respective governments. With the British and other European governments seeking new and improved measures to grow trade relations with Africa, we are enthusiastic on our positioning and capabilities in supporting corporates and government institutions to fulfil these lofty aspirations, which we believe are pertinent for the sustainable growth of both continents.”

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BoI disburses N15,000 Tradermoni to beneficiaries who defrayed N10,000 loans

NIGERIA’S Bank of Industry (BoI) has begun the disbursement of N15,000 TraderMoni loans to beneficiaries who have successfully paid back their first N10,000 loans. According to the bank, the disbursement was in response to the increasing beneficiary repayments recorded under the scheme. Through a flexible weekly loan repayment plan of …

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