Tue. Jul 26th, 2022

President Muhammadu Buhari has approved the unbundling of the Transmission Company of Nigeria.

Speaking during a stakeholders’ meeting in Abuja, the Minister of Power, Aliyu Abubakar disclosed that after the power sector was privatized in 2013 and the successor generation and distribution companies handed over to private investors, the TCN was left under the ownership and management of the Federal Government.

AVIATION:

Reports reaching BCA Business News desk say that at least, three domestic

airlines may close shop in the coming months due to the continuous rise in the price of jet AI, known as Aviation fuel.

Speaking at the maiden edition of the Federal Airports Authority of Nigeria National Aviation Conference in Abuja, the AON’s Vice Chairman, Mr. Allen Onyema, warned that if the challenge of aviation fuel was not nipped in the bud, more airlines might shut down because many of them are going through very difficult times due to aviation fuel prices and other challenges.

INFLATION:

Extreme food prices volatility has resumed in earnest, pushing Nigeria’s headline inflation to seventeen point seven percent.

According to last month’s consumer price index, which tracks inflation trends and patterns, food inflation soared by two point zero one percent month-on-month in May.

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