BUSINESS

FG concludes plan to disburse Cabotage Vessel Financing Fund

Daily Dispatch September 3, 2022

In bid to empower indigenous ship owners and shipping operations, the  Federal Government has concluded plans  to disburse the Cabottage Vessel Financing Fund, CVFF. The move according to the Minister of Transport Engr Muazu  Sambo is also to enable local operators compete  soon to enable

BUSINESS

Most airplanes in Nigeria now grounded- NCAA

Daily Dispatch September 1, 2022

A significant number of airplanes operating across the country are currently grounded due to the crisis rocking Nigeria’s aviation sector, the Nigerian Civil Aviation Authority has said. Director-General, NCAA, Musa Nuhu, who disclosed this at a stakeholders meeting in Abuja on Wednesday, said the fleet of aircraft were grounded until their owners carried out adequate

BUSINESS

Subsidy: House of Reps begins fuel consumption assessment

Daily Dispatch September 1, 2022

The House of Representatives Ad-hoc Committee on Fuel Consumption has begun the assessment of the volume of petroleum products being consumed in the country daily. Chairman of the Committee, Rep. Uzoma Abonta, led other members of the committee on an oversight visit to tank farms in Calabar. The lawmakers were conducted round the farms by […]

BUSINESS

Airline operators reply NCAA over threats to ground operations, ultimatum to pay N22bn debt

Daily Dispatch August 31, 2022

Airline operators in Nigeria under the umbrella of Airline Operators of Nigeria (AON) have replied the Nigeria Civil Aviation Authority (NCAA) over allegations that they converted over N19bn to ‘personal use’. Barr. Allen Onyema, Vice-President of AON, in a statement on Wednesday, explained that while some of their members have bad debts being owed the […]

BUSINESS

Nigeria’s electricity sector records N15.4bn loss – NBS

Daily Dispatch August 31, 2022

The National Bureau of Statistics (NBS) has said that Nigeria’s electricity sector recorded a loss of N15.4 billion in the second quarter of 2022, from the N134.19 billion it recorded in the corresponding period of 2021.It explained that it contracted by 11.48 per cent year-on-year in real terms. According to the report, this is consistent […]

BUSINESS

UBA partners MFS Africa on seamless digital payments, remittances

Daily Dispatch August 31, 2022

Africa’s Global Bank, the United Bank for Africa (UBA) Plc and MFS Africa, Africa’s largest digital payments hub, have announced a partnership that will see both institutions offer innovative and timely solutions to a wide range of customers, especially in the area of Remittances, Electronic Money Services, SME Payments, as well as integration to businesses […]