Business News

Air Peace has announced that it will resume full flight operations on Friday, April 25, 2025 (today), following the suspension of the industrial action by the Nigerian Meteorological Agency (NiMet). NiMet staff had embarked on an indefinite strike on Wednesday over unresolved welfare issues, including the agency’s failure to implement agreed financial allowances, outstanding payments linked to the 2019 minimum wage, and wage awards. Workers also alleged that the management withheld crucial documents, ignored requests for inclusion of omitted staff in previous disbursements, and prioritized executive retreats over essential staff training. The strike disrupted Air Peace operations nationwide due to…
Air Peace has announced the suspension of all its domestic flight operations due to the ongoing strike by the Nigerian Meteorological Agency (NiMet). In a statement released on Wednesday, the airline cited the lack of critical QNH (barometric pressure) data—essential for safe landings—as the reason for grounding its fleet. “Due to the ongoing NiMet strike and the unavailability of QNH reports required for safe landings, Air Peace has suspended all flight operations nationwide until the strike is over,” the airline said. The carrier emphasized that passenger safety remains its top priority and promised to keep the public informed as the…
Nine major Nigerian banks recorded a combined interest income of N14.26tn in 2024, representing a 119.55% increase from N6.49tn in 2023, according to an analysis of audited financial results filed with the Nigerian Exchange Limited. This significant revenue boost occurred while manufacturers struggled with rising borrowing costs, with the sector reporting N1.3tn in interest expenses during the same period. Bank Performance Breakdown Access Holdings led with N3.11tn in interest income, a 98.69% increase from the previous year. Other impressive performances included: - Zenith Bank: N2.72tn (up 137.74%) - First HoldCo: N2.39tn (up 155%) - United Bank for Africa: N2.37tn (up…
The Nigerian Exchange Limited (NGX) bounced back on Thursday as market capitalization increased by N240 billion, driven by renewed investor interest in Nigeria Breweries and 22 other stocks. The All-Share Index (ASI) advanced by 381.93 points (0.37%) to close at 104,233.81 points, while market capitalization climbed to N65.499 trillion. The market upturn was fueled by price gains in large and medium-capitalized stocks including Nigeria Breweries, Ecobank Transnational Incorporated (ETI), Oando, Custodian Investment, and Fidelity Bank. Looking ahead to post-Easter trading, analysts at Vetiva Dealings and Brokerage anticipate a slow start: "With the market heading into the Easter break, we expect…
Nigeria LNG Limited (NLNG) has lost its appeal in a London court, cementing a $380 million compensation ruling in favor of oil trading firm Taleveras over a failed gas supply agreement. The Court of Appeal of England and Wales on Wednesday affirmed the decision of a lower court, which had ruled that NLNG must indemnify Taleveras for payments the company was required to make to Vitol SA and Glencore Energy UK following a disrupted supply contract. The case centered around a 2020 agreement in which NLNG—a joint venture between Nigeria’s state oil firm NNPC, Eni, Shell, and TotalEnergies—was to supply…
Feelings around money tend to drive a good deal of financial decision making, experts say. “Money is 90% emotion, 10% logic,” says certified financial therapist Khara Croswaite Brindle, owner of Croswaite Consultingin Lafayette, Colorado. It pays to know your “attachment style” when it comes to your funds, she says. Once you understand how managing finances makes you feel, you can develop a healthy relationship with money. Here are two of the most common mindsets that can cause problems: Anxious money attachment. People with this mindset tend to relate to finances the way they would to a person they’re afraid of…
Power Generation Companies (GenCos) have threatened to shut down operations over a N4 trillion debt owed by the federal government, raising fears of a nationwide blackout. In a statement by Sani Bello, a retired colonel and Chairman of the Board of Trustees of the GenCos, the companies cited severe liquidity challenges in Nigeria’s electricity sector, worsened by unpaid invoices, lack of firm contracts, and an unstable market structure. Mounting Financial Strain GenCos stated that despite expanding operations, they have been sidelined in payment settlements, forcing them to bear the brunt of the sector’s cash crisis. The situation has been compounded…
The Securities Exchange Commission (SEC) has announced that operating unregistered digital asset exchanges and online foreign exchange trading platforms is now illegal under the recently enacted Investments and Securities Act (ISA) 2025. President Bola Tinubu signed the legislation into law last month, with the SEC stating that the new act aims to strengthen Nigeria's capital market and adapt to the evolving digital finance landscape. In a weekend statement, the SEC warned that non-compliance is now a punishable offense: "By virtue of this Act, it is an offence in Nigeria for any entity that is not registered by the Commission to…
Every day, I am barraged by individuals trying to get me to buy into their program to get more qualified leads, get noticed on LinkedIn, streamline my workflow... and on and on and on. I am exhausted by it all and at the same time strangely intrigued. I have always wanted and tried to be an early adopter. I love being able to try something new, to find that "shiny penny." After all, I might be missing some cool system for generating the leads that are most suited to my product and service offering. Perhaps I am overlooking someone who…
U.S. investment bank J.P. Morgan has urged investors to exit long positions in Nigerian Open Market Operation (OMO) bills, warning that global risks—driven by falling oil prices and renewed trade tensions—could deepen Nigeria’s macroeconomic vulnerabilities. In a research note dated April 9, 2025 seen by Nairametrics, titled“Frontier Local Markets Strategy: Reducing risk further,” the bank advised clients to close their positions in Nigerian T-bills as Brent crude oil approaches sub-$60 levels. J.P. Morgan, which had previously backed Nigeria’s carry trade for its high yield and relative stability, has now shifted its stance, citing a changing global environment worsened by former…
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April 25, 2025

Air Peace to resume flights today as NiMet halts strike

Air Peace has announced that it will resume full flight operations on Friday, April 25,…
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Tunde Bakare to Tinubu: ‘Stop playing God, embrace humility’

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Artificial sweetener found in diet drinks linked to brain changes that increase appetite, study finds

A growing body of evidence has increasingly linked diet sodas and other no- or low-calorie…
January 08, 2025

NFF appoints new Super Eagles head coach

The Nigeria Football Federation (NFF) has appointed Éric Sékou Chelle as the new Head Coach…

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