NAHCON Cuts 2019 Hajj Fares by N51k, Orders Refund to Pilgrims

By Modupe Gbadeyanka Steps are being taken by a leading amusement park and resort in Nigeria, Omu Resort, to ensure Delta State become the latest global tourism hub. The company has come up with a multifaceted initiative known as Discover Delta to attract tourists across the world to the oil-rich state and earn scarce foreign exchange (FX) for the country. It intends to achieve this goal and redefine the tourism landscape in Delta State through the Leisure Park and Film Village Asaba. A statement from the firm said in September 2023; it would launch the Discover Delta initiative, which encompasses

Iceland, a land of dramatic landscapes and otherworldly beauty, beckons adventurers from around the globe. Whether you’re drawn to the mesmerizing Northern Lights, the sizzling geothermal wonders, or the untamed wilderness, Iceland has something captivating for every traveller. The popularity of Iceland tours has surged in recent years, and it’s no wonder why. This article is your gateway to the top nine captivating holiday packages in Iceland, offering a diverse range of experiences that will leave you spellbound by the Land of Fire and Ice. 1. The Golden Circle: Classic Beauty and Beyond The Golden Circle, one of Iceland’s most

By Modupe Gbadeyanka Operations of foreign airlines at the Murtala Muhammed International Airport (MMIA) have been moved to the new international terminal of the facility. This followed the directive of the Federal Airports Authority of Nigeria (FAAN) to the airline operators in compliance with an order of the Minister of Aviation and Aerospace Development, Mr Festus Keyamo, a few days ago. During a visit to the Lagos airport, Mr Keyamo asked foreign airlines to move to Terminal 1 of the facility on or before October 1, 2023. However, after a fire incident at the MMIA on Wednesday, FAAN, which oversees

By Adedapo Adesanya The federal government, through the Ministry of Aviation, has assured airline operators that it would liaise with the Central Bank of Nigeria (CBN) for the allocation of foreign exchange (forex) to them at a single-digit interest rate as low as 1.5 per cent. However, the central government said it would soon begin to compel domestic airlines to compensate passengers for incessant delays and cancellations of flights. The Minister of Aviation, Mr Festus Keyamo, while speaking on flight disruption challenges during a meeting with the officials of Airline Operators of Nigeria (AON) in Abuja, said efforts would be

By Modupe Gbadeyanka Puma Energy has announced the delivery of its first cargo of bitumen to its terminal located in Calabar, Cross River State, under a joint venture with WABECO Petroleum Ltd, registered as P.E. Bitumen Resources (Nigeria) Limited. Puma Energy is a global mid and downstream energy company. According to a weekend statement by Puma Energy, the cargo was delivered by MT Acacia Rubra, which completed discharge early this month. The statement disclosed that the delivery comes at a critical time to assist the federal government’s effort in rebuilding its road infrastructure which is a catalyst for the country’s

By Dipo Olowookere Fears of a possible lockdown of the Nigerian economy as a result of the rising number of confirmed cases of Coronavirus disease (COVID-19) is making investors tread carefully at the stock market. The Nigerian Stock Exchange (NSE) on Monday depreciated by 0.29 percent, no thanks to profit-taking by market participants, who do not want their hands to get burnt. At the first trading session of the week, the All-Share Index (ASI) reduced by 72.83 points to 24,753.92 points from 24,826.75 points, while the market capitalisation decreased by N38 billion to N12.913 trillion from N12.951 trillion. There were

By Dipo Olowookere Transactions at the Nigerian Stock Exchange (NSE) further ended bullish on Wednesday with a 0.76 per cent growth. Investors showed renewed interest in the stock market, especially in shares in the consumer goods, banking and insurance sectors, resulting in the 3.78 per cent growth, 1.86 per cent rise and 1.63 per cent jump in their respective indices, while selloffs were witnessed in the energy and industrial goods counters, causing 0.33 per cent decline and 0.17 per cent fall in their respective indices. However, the poor performance of the two sectors did not affect the All-Share Index (ASI),

By Dipo Olowookere The sum of N280 million has been paid to beneficiaries of deceased staff of Lagos State Universal Education Board (SUBEB) and Local Government Councils. The money was paid as insurance benefits to the beneficiaries by the Lagos State government in conjunction with LASACO Assurance Plc. During the presentation ceremony on Wednesday, Commissioner for Local Government and Community Affairs in the state, Mr Muslim Folami, disclosed that 110 families, comprising 53 dependants of deceased Local Government and 57 SUBEB staff respectively, will receive benefits in the first phase while the next phase of payments would be made before

By Aduragbemi Omiyale The Minister of Information and Culture, Mr Lai Mohammed, has said Nigerians, especially the beneficiaries of the various social investment programmes, are enjoying a better quality of life under the administration of President Muhammadu Buhari. Speaking on Monday at the 16th PMB Administration Scorecard Series (2015-2023) in Abuja, he said the social investment schemes had given a new life to Nigerians. He described this as a legacy that might be difficult to match, noting that the initiatives remain “unprecedented in the whole of Africa.” Some of the social investment programmes include N-Power, School Feeding, Conditional Cash Transfer

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange opened the week in the bullish territory on Monday, August 8 coming from the lift in the stock price of Niger Delta Exploration and Production (NDEP) Plc, which advanced the market by 0.38 per cent. This raised the market capitalisation of the NASD OTC Exchange by N3.84 billion during the session to N1.005 billion from the preceding session’s N1.002 trillion as the NASD Unlisted Securities Index (NSI) added 2.91 points to end the day at 764.18 points as against the 761.27 points it recorded in the previous session. NDEP Plc saw its

By Adedapo Adesanya The Lagos State government has announced plans to construct a $100 million Lagos Film City with a groundbreaking ceremony set for Wednesday, October 18. This was disclosed by the Commissioner for Tourism, Arts and Culture, Mrs Toke Benson-Awoyinka, over the weekend, noting that the approval for the groundbreaking shows that Lagos will witness bigger projects in Mr Sanwo-Olu’s second term. The African continent’s digital economy is projected to grow six-fold to over $700 billion by 2050, with Africa’s film and audiovisual sectors alone having the potential to create 20 million jobs and $20 billion in annual revenue.

By Modupe Gbadeyanka This week, at the primary markets, the Central Bank of Nigeria (CBN) will auction treasury bills worth N133.8 billion. According to the Nigerian treasury bills issue programme for fourth quarter of 2017 released by the apex bank recently, the sale will take place on Thursday, October 19, 2017. A breakdown of the forthcoming exercise revealed that the CBN will auction 91-day bills worth N32.40 billion, 182-day bills worth N35.00 billion and 364-day bills worth N66.39 billion. Treasury bills are short-term debt instruments issued by the Federal Government through the central bank to provide short term funding for