BUSINESS

Nigeria Hits 2026 Peak Oil Output but Still Falls Short of OPEC Benchmark 0
- BUSINESS
- May 14, 2026
Nigeria posted its strongest oil production figures of 2026, with total liquid output climbing to 1.66 million barrels per day (bpd) in April, up from 1.54 million bpd in March, even as crude production remained just below the 1.5 million bpd quota set by Organization of Petroleum Exporting Countries. Data from the Nigerian Upstream Petroleum
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NCAA Grants Pioneer Airlines Licence for Charter Flights, Urges Strict Safety Compliance 0
- BUSINESS
- May 14, 2026
The Nigeria Civil Aviation Authority has approved Pioneer Airlines for unscheduled flight operations. Director-General, Chris Ona Najomo, who presented the certificate in Abuja on Wednesday, congratulated the airline while praising its high safety standards, stressing that maintaining those standards is essential as NCAA continues to monitor its operations. Speaking after receiving the certificate, Managing Director
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End of an Era: Jim Ovia Bows Out as Zenith Bank Chairman After 12-Year Run 0
- BUSINESS
- May 5, 2026
Jim Ovia has officially stepped aside from the top seat at Zenith Bank, closing the chapter on a 12-year stint as chairman in line with regulatory limits. The exit wasn’t sudden—it was clockwork. The Central Bank of Nigeria rules kicked in, enforcing tenure caps designed to refresh leadership and tighten governance across the banking space.
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Passenger Numbers at Dubai International Airport Drop 66% as Middle East Conflict Disrupts Air Travel 0
- BUSINESS
- May 4, 2026
Passenger traffic at Dubai International Airport declined by 66 percent in March amid regional conflict and reported Iranian attacks on the United Arab Emirates, according to the Dubai Media Office. The airport, known as one of the busiest globally for international travel, recorded about 2.5 million passengers during the period. Authorities linked the sharp drop
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OPay Targets $4bn US IPO as It Engages Top Global Investment Banks 0
- BUSINESS
- May 3, 2026
Nigerian fintech giant OPay is reportedly preparing for a major initial public offering in the United States, targeting a valuation of around $4 billion, according to industry reports. The company has engaged leading global investment banks—Citigroup, Deutsche Bank, and JPMorgan Chase—to advise on the planned listing, although final timing and structure are still under review.
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Fuel Crisis Forces Spirit Airlines Shutdown, Thousands of Passengers Stranded 0
- BUSINESS
- May 3, 2026
Operations at Spirit Airlines have come to an abrupt halt following a surge in jet fuel prices tied to rising geopolitical tensions involving Iran, leaving passengers stranded and putting thousands of jobs at risk. The airline, already battling financial instability, was pushed over the edge by escalating fuel costs—one of the most critical expenses in
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