Indigenous ship owners in Nigeria have raised the alarm that Nigeria is currently losing billions in revenue to capital flight due to the dominance of the nation’s African Continental Free Trade Area (AfCFTA) agreement by foreign vessels, especially Chinese-owned vessels. Recall that Nigeria in July 2024 launched its first shipment under AfCFT...
The Manufacturing companies recorded N1.5 trillion in foreign exchange-related losses in the first six months of the year, following the impact of the unsettled forward contracts worth $2.4 billion by the Central Bank of Nigeria, CBN. Consequently, the Manufacturers Association of Nigeria (MAN), warned that the continued non-redemption of the ...
The commencement of the #EndBadGovernance protest across the country against hardship may lead to additional operational losses on the part of the domestic carriers due to the restriction of movements. According to the information gathered, many of the domestic airlines recorded very low traffic as passengers out of fear of being caught up in ...
•Tinubu As Nigeria battles an economic crisis sparked by the government’s twin policies of petrol subsidy removal and unification of FX windows, United Kingdom-based Diageo joined about 15 other multinational companies that have exited the country in the past three years. Diageo is the latest to announce its departure on Tuesday, June 11 when ...
Repairs and revenue losses from damaged cables are estimated to have cost Nigeria’s telecom industry almost N27 billion ($23 million) in 2023, according to documents obtained by Bloomberg. According to the report, MTN Nigeria and Airtel Africa Plc bore the brunt of the costs. MTN suffered more than 6,000 cuts on its fibre cable last […]...
The Monetary Policy Committee of the Central Bank of Nigeria has voted to increase the benchmark interest rate by 400 basis points to a record 22.75 per cent. The MPR was at 18.75 per cent. The MPC also made a bold move to restrict money supply by increasing the Cash Reserve Ratio to 45 per […]
•Demolition site Traders at the Police Officers’ Wives Association Shopping Complex in the Computer Village, Ikeja area of Lagos counted their losses following the demolition of the complex yesterday. It was gathered that demolition took place in the early hours of Sunday with armed security operatives supervising the operation, reports The PU...
The Frontier is Nigeria’s leading online newspaper. It is published by Okims Media Links Limited headed by Sunny Okim, a veteran journalist who is widely known as The Grandmaster, fondly called so by colleagues and friends for being Nigeria’s pioneer movie journalist.
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