BT Business

COVID-19 Variant: Saudi Arabia Reopen Borders; Resumes International Flights

By Onwuka Gerald Saudi Arabia has on Sunday declared the reopening of land and sea borders as well as the resumption of international flights after a 2 week suspension that was aimed to contain the fast spreading new COVID-19 strain. The Ministry of the Interior stated that the government directed the lifting of precautionary measures […]

Arik Air Sacks 300 staff

By Idowu Maryam Due to the impact of the COVID-19 pandemic, the management of Arik Air has announced the sack of 300 staff members. The airline said that the step became necessary because it’s management is having issues with it’s ability to efficiently continue it’s maintenance activities due to an increasing operational costs. Arik air […]

Lagos-Ibadan Rail Station: Amaechi Approves N3000 As Charges

By Adejumo Enock The Minister of Transportations, Rotimi Amaechi has indicated that rail travellers through Lagos-Ibadan rail line will pay a minimum of N3000 for economy class. The Minister disclosed this in Abuja on Friday at the inauguration of the Governing Council of the Chartered Institute of Transport Administration of Nigeria. He said, the railway […]

Nigeria’s Recession Will Not Last Long – Zainab

By Adejumo Enock The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed had said the second recession in five years that Nigeria just slided into will not last. She disclosed this at the ongoing 26th Nigerian Economic Summit organized by the Nigerian Economic Summit on Monday. Ahmed said, the country would emerge from […]

Atiku Reacts As Nigeria’s Economy Slides Into Second Recession In 5 Years, Advises Buhari On What To Do

By Seun Adeuyi The data released by the National Bureau of Statistics (NBS), on Saturday, for Q3 2020 shows a dip of 3.62% in real GDP for Nigeria. This strongly confirms that the Nigerian economy has officially fallen into a second recession in five years, since 2016, when the economy contracted by 1.62%.  The decline in the GDP for Q3 2020 is not unconnected with low activities both at the domestic and international […]

BREAKING: Nigeria’s Economy Enters Recession

By Seun Adeuyi In the third quarter of 2020, Nigeria’s Gross Domestic Product (GDP) contracted by 3.62%, officially indicating that Nigeria has fallen into recession as the oil sector dipped by 13.89% (year-on-year) in real term. This was contained in the GDP report, just released by the National Bureau of Statistics (NBS). The contraction in […]