Nigeria News (Standard)
Abuja Chamber of Commerce Seeks FRC Collaboration Ahead of National Economic Reform Dialogue
ACCI leadership visits Fiscal Responsibility Commission in Abuja, urges joint action for fiscal discipline and sustainable development
ACCI leadership visits Fiscal Responsibility Commission in Abuja, urges joint action for fiscal discipline and sustainable development
The Abuja Chamber of Commerce and Industry (ACCI) has called for a closer partnership with the Fiscal Responsibility Commission (FRC) in a bid to strengthen fiscal discipline and support economic reforms across Nigeria. This appeal was made during an official courtesy visit by ACCI executives to the FRC headquarters in Abuja on Monday.
During the meeting, Director-General of ACCI, Agabaidu Jideani, emphasised the urgent need for cooperation between the two institutions, especially as Nigeria prepares for the upcoming National Stakeholders Policy Dialogue on Fiscal Responsibility Reform, Economic Transformation and Sustainable Development. Jideani highlighted that such collaboration would help drive policies aimed at ensuring prudent financial management within both public and private sectors.
The ACCI’s move comes at a time when the federal government is intensifying efforts to address challenges around budget implementation, public sector transparency and sustainable growth. With inflation rates remaining high and pressure mounting on government spending, stakeholders are pushing for stronger oversight mechanisms to ensure accountability in fiscal affairs.
Speaking during the engagement, Jideani said: “Partnering with FRC at this crucial period will enable us to collectively chart a path towards sustainable economic reforms that benefit all Nigerians.” The chamber’s leadership also expressed commitment to mobilising private sector support for ongoing reforms. The Fiscal Responsibility Commission welcomed the initiative and assured ACCI of its readiness to participate in the dialogue and future joint programmes.
The National Stakeholders Policy Dialogue is expected to bring together government officials, business leaders and civil society representatives to discuss strategies for advancing fiscal responsibility and promoting long-term economic transformation. Both ACCI and FRC indicated that further details about their collaborative activities would be announced ahead of the event.
Nigeria News (Standard)
Air Peace CEO Onyema Says Airlines Rely on Bank Loans as Jet Fuel Prices Surge
Rising aviation fuel costs push Nigerian carriers into debt, industry leaders warn of threat to operations
Rising aviation fuel costs push Nigerian carriers into debt, industry leaders warn of threat to operations
Nigerian airlines are now depending heavily on bank loans to keep their operations afloat as the price of aviation fuel continues to soar, Allen Onyema, Chief Executive Officer of Air Peace, has said. Onyema raised the alarm on Wednesday, highlighting the mounting financial pressure facing domestic carriers across Nigeria.
Speaking from Lagos, Onyema explained that the sharp increase in jet fuel prices has left airlines struggling to meet daily operational expenses. He stated that many operators have had no choice but to seek loans from commercial banks to cover essential costs such as fuel and aircraft maintenance.
The Air Peace boss noted that the aviation sector has been hit particularly hard by recent economic challenges, with jet fuel prices rising in tandem with naira depreciation and inflation. Industry analysts say this situation threatens the long-term sustainability of local airlines and could lead to higher airfares for Nigerian travellers.
Onyema called on government and regulatory agencies to urgently intervene by stabilising fuel supply and supporting indigenous airlines. He warned that unless there is a prompt response, more airlines may be forced out of business. “We cannot continue like this; something must be done to save Nigeria’s aviation industry,” Onyema stressed.
Aviation stakeholders have echoed Onyema’s concerns, urging government to review policies affecting jet fuel importation and forex access. They argue that failure to address these issues will not only hurt airline operators but also disrupt air connectivity across Nigeria. The situation remains tense as airlines await further action from authorities.
Nigeria News (Standard)
France Coach Leaves FIFA World Cup in Germany for Mother’s Funeral
Departure of national team head disrupts France’s tournament preparations; assistant coach steps in temporarily
Departure of national team head disrupts France’s tournament preparations; assistant coach steps in temporarily
France’s national football team coach has departed from the ongoing FIFA World Cup in Germany to attend his mother’s funeral, causing a sudden change to the squad’s technical leadership. The incident occurred on Wednesday, just days before France’s next group stage fixture.
According to information available as at Wednesday, the coach left the team’s base in Germany and travelled back to France following news of his mother’s passing. In his absence, the assistant coach has been placed in charge of training sessions and match preparations, pending his return.
This development comes at a sensitive period for Les Bleus, who are regarded as one of the favourites for the global tournament. Analysts say that any disruption in the technical bench at this critical stage could affect player morale and tactical execution. The French Football Federation is yet to issue an official statement regarding the coach’s expected date of return or how long he will be away from World Cup duties.
A senior official close to the team confirmed that all players and staff have been informed of the situation and have expressed their condolences to the coach and his family. The official added that preparations for upcoming matches would continue as scheduled under interim supervision.
France is set to face its next opponent later this week, with supporters hoping for a swift return of their head coach. The situation is being closely monitored by both French authorities and tournament organisers.
Nigeria News (Standard)
Dangote Refinery Dismisses Claims of Fuel Export-Reimport as ‘Illogical’
Management in Lagos says allegations of exporting refined products for re-importation lack basis and economic sense
Management in Lagos says allegations of exporting refined products for re-importation lack basis and economic sense
Dangote Petroleum Refinery has refuted circulating reports suggesting that the company exports its refined petroleum products abroad only to re-import them into Nigeria, describing such claims as baseless and not grounded in operational reality. The management made this clarification on Wednesday during a statement issued at its Lagos headquarters.
The refinery’s response followed widespread speculation and online commentary alleging that Dangote was engaging in a practice that would see locally refined products shipped out of the country, only to be brought back for sale to Nigerians. The company stated that this claim is both illogical and contrary to the principles guiding its business operations.
This development comes at a time when Nigerians are closely watching activities within the oil and gas sector, especially since the Dangote Refinery commenced operations earlier this year with promises of reducing dependence on imported fuel. Many stakeholders have raised questions about how quickly the refinery can impact pump prices and fuel availability, given ongoing concerns about foreign exchange rates and supply chains.
In its official position, Dangote Petroleum Refinery explained that all processes are geared towards supplying the Nigerian market directly. “There is no economic or operational rationale for us to export refined products only to re-import them for local consumption,” the management stated. The company added that it remains committed to meeting domestic demand efficiently and transparently.
Industry observers say that as Nigeria’s largest private refinery ramps up production, public scrutiny will likely intensify regarding pricing, supply chain decisions, and government regulatory oversight. The company assured Nigerians that it would continue to communicate developments transparently as it moves towards full-scale operations.
Air Peace CEO Onyema Says Airlines Rely on Bank Loans as Jet Fuel Prices Surge
France Coach Leaves FIFA World Cup in Germany for Mother’s Funeral
Dangote Refinery Dismisses Claims of Fuel Export-Reimport as ‘Illogical’
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