Ogochukwu Onwaeze, THEWILL

The confirmation, contained in a market notice published on Thursday, August 27, formally clears the uncertainty that had surrounded Nigeria’s return to the Frontier Market universe after the transition was placed under further review in June.

The Nigeria Civil Aviation Authority (NCAA) has signed a Memorandum of Understanding with Firstway FZE and Global Software & Digital Solution (GSDS) to implement a Pre-Loading Advance Cargo Information (PLACI) system for air cargo in Nigeria.

The Nigerian Exchange Limited (NGX) closed higher on Thursday, reversing the previous session’s decline as the market’s benchmark index gained 0.20 percent.

The latest position is the highest recorded since January 12, 2009, when the country’s reserves stood at approximately $53.25 billion.

The warning follows the recent increase in the price of a 50kg bag of Dangote Cement to more than ₦15,000 in some locations, despite an ongoing investigation by the Federal Competition and Consumer Protection Commission (FCCPC) into pricing practices in the industry.

In a panel discussion on Africa’s infrastructure financing challenges, South African President Cyril Ramaphosa argued that the continent should not assume it needs foreign capital to fund major projects. Aliko Dangote offered a different perspective, arguing that the availability of money in African banks does not necessarily mean businesses can afford to use it.

President Bola Tinubu has urged NLNG to increase domestic gas utilisation and ensure Nigeria’s gas wealth translates into more affordable cooking gas. NLNG says 100 percent of its cooking gas production already goes to the Nigerian market and...

The decision is expected to be formally announced later this week, potentially clearing the uncertainty that emerged after FTSE Russell placed Nigeria’s planned reclassification under further review in June.

The NGX All-Share Index (ASI) declined by 0.17 percent, falling from 239,085.17 points at the opening to 238,682.92 points at the close. Market capitalisation also declined by N260 billion, from N154.396 trillion to N154.136 trillion.

The development was disclosed by the Aviation Safety Round Table Initiative (ASRTI), which urged the Federal Government to immediately act on the recovered document and conclude the payment process.