Lagos airport shut temporarily, flights diverted over mangled corpse on runway
The international wing of the Murtala Muhammed International Airport, Lagos, was temporarily shut in the early hours of Thursday after the mangled body of a dead man was found on Runway 18R of the nation’s flagship airport. The identity of the corpse could not be ascertained as of press time.
Bakers decry inability to pass rising production costs to consumers
Bakers across the country have decried the impact of the rising price of flour and other production inputs even as they find it difficult to pass the rising cost to the final consumers whose purchasing power has been hit by steep inflation and naira depreciation. Bakers submitted that except production
World Bank to fund $30bn projects in Nigeria, others
The World Bank has said it is set to disburse a total of $30bn to fund existing and new projects in Nigeria and other countries as part of a global response to combat the ongoing food security crisis. According to the bank, it is working with countries on a $12bn
Nigeria’s Q1 trade deficit rose by 175%, hit $764m – CBN
The value of Nigeria’s international trade deficit rose by 175.13 per cent from $152.94m in January 2022 to $420.79m in March 2022, according to data from the Central Bank of Nigeria. The International Trade Summary on the CBN’s website shows that the total value of international trade was $28.77bn in
Netflix lays off 150 employees due to slow revenue growth and business
Netflix is reportedly laying off nearly 150 employees in the coming days due to disappointing earnings and slow revenue growth. According to a Variety report, the Amazon Prime Video rival might also terminate its contract with contractual contributors. The layoffs are about 2 per cent of Netflix’s
Mexico disappearances reach record high of 100,000 amid impunity
Government data, which goes back to 1964, shows that almost all the disappearances have occurred since 2007, when then-President Felipe Calderón launched his “war on drugs”. The United Nations has called it “a human tragedy of enormous proportions”. Many of the missing are victims of organised crime and hardly any
Tax waivers account for huge revenue loss to Nigeria – FG
Despite its efforts to leverage the benefits of tax exemptions and concessions, the incentive has rather led to huge revenue loss for Nigeria, the Federal Government said on Monday. The government said that although it was committed to reducing tax expenditure, the nation’s current revenue to Gross Domestic Product
FCMB, Mastercard Foundation partner to uplift 100,000 MSMEs in Nigeria
Nigeria – 11 May, 2022 – First City Monument Bank (FCMB), a member of FCMB Group Plc, has partnered with the Mastercard Foundation to provide subsidized loans to 100,000 Micro, Small, and Medium Enterprises (MSMEs), to scale their operations to create work opportunities for young Nigerian women and men. The
Taraba residents knock Chinese firm over poor road rehabilitation
Residents of Mararaba, Ananum and Donga communities in the Donga Local Government Area of Taraba State on Friday decried what they called the poor quality of asphalted Mararaba -Donga road. The residents, who spoke in separate interviews with our correspondent when he visited the area on Friday, said the asphalted
Nigeria’s oil production falls over poor maintenance, says World Bank
The World Bank has said that Nigeria’s oil production declined in 2021 due to a lack of maintenance and the loss of infrastructure efficiency. It added that Nigeria was yet to benefit from increasing oil prices as a result of declining oil production and fuel subsidy. The Washington-based bank said