The Nigeria Civil Aviation Authority (NCAA) has suspended the Permit for Non-Commercial Flights (PNCF) of 10 operators over failure to commence their recertification process. The suspended private jet operators include Azikel Dredging Nigeria Ltd, Bli-Aviation Safety Services, Ferry Aviation Developments Ltd, Matrix Energy Ltd, Marrietta Management Services Ltd, Worldwide Skypaths Services, Mattini Airline Services Ltd, Aero Lead Ltd, Sky Bird Air Ltd and Ezuma Jets Ltd. The suspension was due to a flagrant disregard of the Nigeria Civil Aviation Regulations 2023 Part 18.3.4. This regulation forbids PNCF license holders from using their aircraft for the carriage of passengers, cargo, or…
Author: Elvis Eromosele
…Appoints Dangote, Elumelu, into the presidential coordination council President Bola Tinubu on Thursday, said his administration will inject about N2 trillion into the economy within the next six months The President stated this while inaugurating the Presidential Economic Coordination Council (PECC) which has Africa’s richest man, Aliko Dangote and Tony Elumelu and other notable private sector players as members, on Thursday in Abuja. Wale Edun, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, while briefing State House Journalists after the event, said members of the Council are made up of the top talents and stakeholders available in…
MultiChoice has attained 6,000 hours of local content production annually, catering to a diverse audience across Africa. These contents, broadcast in 40 languages, reach over 50 countries and 100 million viewers daily. MultiChoice provides a platform for Africans to see their rich cultural heritage and their own experiences reflected on screen. This provides entertainment and promotes a sense of national identity and pride, which is important for building a cohesive and inclusive society. John Ugbe, CEO West Africa, MultiChoice, in a statement, stated that one of the motivations of MultiChoice Africa was to help shape the cultural landscape. “We recognise…
The highly anticipated Titans of Tech Conference and Exhibition (TOTCE) is set to take place on July 26 and 27, 2024, marking a significant milestone as it celebrates its 20th anniversary. This year’s event promises to be more impactful than ever, with the unveiling of the new book, “50 Most Influential ICT Innovators in Nigeria,” as a key highlight. The book, commemorating two decades of the conference, shines a spotlight on the trailblazers shaping the ICT landscape in Nigeria today. Don Pedro Aganbi, Lead Consultant at Tech TV, emphasized the importance of this milestone event. “The Titans of Tech Conference…
Sundry Markets Limited, owners of Marketsquare, a leading indigenous retail chain in Nigeria, has been recognized as one of Africa’s top 50 fastest-growing companies for 2024 by the Financial Times. The FT-Statista ranking highlights companies that have demonstrated exceptional growth, even amidst economic hardships. While many African economies grapple with post-pandemic recovery, Sundry Markets stands out for its ability to overcome both pandemic challenges and the continent’s broader economic struggles. In its third edition, the report identifies Nigeria, Africa’s third-largest economy, as experiencing a 2023 economic crisis marked by inflation and currency devaluation. Despite these difficulties, Nigeria boasts the second-highest…
Kylian Mbappe has put French Ligue 1 champions Paris Saint-Germain (PSG) on notice over their refusal to pay him up to €100 million in salary and bonuses. Real Madrid announced earlier this month that they had reached an agreement to sign Mbappe once his PSG contract expires at the end of June. The French champions were aware of Mbappe’s decision to leave the club this summer and had planned for this eventuality by including various clauses in his contract. Ultimately, PSG aims to save up to €200 million from his departure due to a complex legal arrangement. However, in May, L’Equipe…
In a major step towards boosting Nigeria’s oil and gas production, the NNPC-TotalEnergies JV has officially announced a $550 million Final Investment Decision FID on the Ubeta Field Development Project. Meanwhile, the Group Chief Executive Officer, NNPC Limited, Mallam Mele Kyari has commended the Federal Government over the Presidential Executive Order, which he said has fostered the growth and development of the country’s oil and gas sector. The milestone is in line with President Bola Ahmed Tinubu’s Presidential Executive Order on Oil & Gas Reforms aimed largely at improving the investment climate and positioning Nigeria as the preferred investment destination…
Nigeria’s total debt stock rose by N24.33 trillion in the first quarter of 2023 to N121.67 trillion from N97.34 trillion as of December 2023, according to data from the Debt Management Office. In a statement on Thursday, the office disclosed that the total public debt comprises debt from the total domestic and external debts of the Federal Government, the thirty-six state governments, and the Federal Capital Territory (FCT). Total domestic debt rose to N65.65 trillion ($46.29 billion), while total external debt was N56.02 trillion ($42.12 billion). It highlighted that excluding naira exchange rate movements in Q1 2024, only the domestic…
Olufemi Otedola, chairman, FBN Holdings has bought an additional 546,674,034 shares through Calvados Global Services Limited, a company related to him. The billionaire businessman bought additional shares of FBN Holdings on June 20 at N21.97 per share, all valued at N12.01 billion. FBN Holdings had appointed Otedola as the chairman of its board of directors in January. His appointment came two years after the billionaire became the firm’s single largest shareholder in December 2021, when he increased his stake to 7.57 per cent. FBN Holdings had after Otedola’s appointment named Barbican Capital Limited as its majority shareholder — making Otedola…
Adrian Wood, the former CEO of MTN Nigeria, has made a notable return to the Nigerian telecoms industry as the new CEO of ntel, a company unbundled from NITEL and managed by NATCOMS. Wood, who assumed his new role on January 8, 2024, succeeding Dr. Babatunde Omotoba, aims to raise $550 million to restructure and rejuvenate ntel. In his capacity as CEO, Wood is focused on attracting new investors and rebranding ntel. He communicated his vision and commitment to the company’s staff in a letter dated June 5, 2024, encouraging them to stay dedicated as he leads the company through…