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Jet fuel hikes : Nigeria’s airline to halt domestic flights

Nigeria's airlines are to stop domestic operations from Monday in protest at the spiralling cost of jet fuel. It has risen almost fourfold this year, which was unsustainable, the Airline Operators of Nigeria (AON) said. "No airline in the world can absorb this kind of sudden shock from such an...
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Times Higher Education : In Africa, Egypt dominates the ranking with 36 universities

Topping the Times Higher Education's global ranking are American and British higher learning institutions. Oxford University ranked first worldwide, followed by California Institute of Technology, Harvard University, Stanford University, University of Cambridge, and Massachusetts Institute of Technology. In Africa, Egypt dominates the ranking with 36 universities, followed by nine Nigerian...
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Nigeria: Africa’s largest fertilizer plant inaugurated

Nigeria’s president Muhammadu Buhari inaugurated a $2.5 billion fertilizer plant with which the country hopes to contribute to the global supply amid the impact of increasing prices in the aftermath of the Russia-Ukraine war. During the inauguration of the Dangote Fertilizer Plant in the commercial capital of Lagos, the leader...
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Nigerian : The Nigerian Content Intervention (NCI) Fund exceeds $500m

The Nigerian Content Intervention (NCI) Fund has exceeded half a billion dollars, according to Simbi Wabote, the executive secretary of the Nigerian Content Development and Monitoring Board (NCDMB). The NCI Fund, which is extended as low-cost credit to qualified oil and gas companies covers asset acquisition, project financing, manufacturing, working...
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Investment : Moody’s to Acquire Majority Stake in GCR

Moody’s to Acquire Majority Stake in GCR Ratings, Expanding Presence in Africa Global Credit Rating Company Limited (GCR) is a leading credit rating agency in Africa with operations spanning the continent, including in South Africa, Nigeria, Senegal, Kenya, and Mauritius...
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Technology: After Rwanda, Zipline targets West Africa

Initiator of the use of drones to deliver medical supplies in remote areas, notably in Rwanda, the start-up Zipline is now eyeing West Africa to expand its African operations. This development confirms the relevance of its innovative solution.  By Ange Iliza, in Kigali  California-based start-up Zipline, a pioneer in the...
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Nigeria: A new national airline established

Nigeria is has introduced a new national airline Nigeria Air, 18 years after national carrier Nigeria Airways was liquidated due to inefficiency and debt. The new national carrier will start operations in April 2022 with its three planes under a wet-lease from Europe, said Mr. Tilmann Gabriel, the transaction adviser...
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Nigeria: World Bank advises on economic recovery strategy

The World Bank has urged Nigeria to increase its revenue streams by removing subsidies on petroleum products and increasing taxes on “sinful goods” such as cigarettes, alcohol, and sugary drinks. “These reforms include improving tax administration, especially for VAT, while also undertaking some significant policy reforms, such as implementing a...
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