Business
Algiers-Abuja direct flights begin April 6
The Ministry of Foreign Affairs on Wednesday, announced the launch of Air Algérie’s inaugural direct flight service from Algiers to Abuja, set to begin on April 6, 2025.
This is said to strengthen the diplomatic and economic ties between Nigeria and Algeria.
According to a statement signed by the Acting Spokesperson for the Ministry, Kimiebi Ebienfa, the new route, which is the result of the Bilateral Air Services Agreement between the two countries, will be operated by the national carrier, Air Algérie, using a Boeing 737 aircraft.
This new service is expected to boost connectivity, encourage tourism, and facilitate trade and investment between Nigeria and Algeria.
“The Ministry of Foreign Affairs is pleased to announce the commencement of Air Algerie’s inaugural direct flight service from Algiers to Abuja, scheduled for 6th April 2025.
“This historic development marks a significant milestone in the growing diplomatic and economic relations between Nigeria and Algeria.
“It is pertinent to state that it is the implementation of the Bilateral Air Services Agreement between both countries, which culminated in this successful venture,” the statement read in part.
The inaugural flight is expected to carry the Charge d’Affaires of the Nigerian Embassy in Algiers, Nigerian community leaders, and representatives from the Algerian government.
The Federal Government has extended congratulations to Air Algérie and offered its full support to ensure the success of the new service.
With affordable fares and Algeria’s proximity to Europe, the flight also offers Nigerians a convenient gateway to Europe, enhancing Nigeria’s position as a regional hub for business, tourism, and transit.
The statement added, “The Federal Government of Nigeria, through the Ministry of Foreign Affairs and relevant aviation authorities, extends its warm congratulations to Air Algerie and assures all necessary support to ensure the success and sustainability of this new service.
“We believe this initiative will further strengthen the longstanding friendship between Nigeria and Algeria, while opening new opportunities for mutual growth.
“The affordable fare structure and the proximity of Algeria to Europe would also provide Nigerians with a convenient gateway to Europe, thereby enhancing Nigeria’s position as a regional hub for business, tourism, and transit.”
The ministry encouraged citizens and businesses to take advantage of this new connectivity to explore opportunities for trade, tourism and cultural exchanges between the two nations.
Business
TCN improves Power Supply to Apapa corridors by additional 208MW
The upgrade replaces an outdoor transformer that had served as a stopgap after the original facility, commissioned in 1985, was decommissioned.
The Managing Director/Chief Executive Officer of the Transmission Company of Nigeria (TCN), Mr. Sule Ahmed Abdulaziz , says from now Apapa Causeway, Ijora, Amukoko, Ajegunle, Apapa Wharf, Tin Can Island and other major commercial areas, will be having improved power supply.
Abdulaziz made the declaration on Monday during the commission of Ijora and Apapa Road transmission substations in Lagos by additional 208MW .
The project is aimed at improving the volume and reliability of electricity available to distribution companies for onward supply to homes, businesses and industries.
Abdulaziz said that the projects, sponsored by the Japan International Cooperation Agency (JICA) and the World Bank respectively, in partnership with TCN, underscored the Federal Government’s commitment to modernising the transmission network and improving grid stability.
He commended the Ministry of Power, JICA, the Government of Japan, Lagos State Government and other stakeholders for supporting the projects, while appealing for additional grant assistance to upgrade other critical sections of the transmission network.
Speaking at the commissioning, Minister of Power, Mr. Joseph Tegbe, said that the projects were part of the Federal Government’s efforts to address longstanding transmission constraints and infrastructure decay that have limited the country’s ability to fully utilise available generation.
The upgrades increased the Ijora substation’s capacity by 112MW, from 90MVA to 230MVA, following the installation of two new 100MVA transformers.
At Apapa Road, a new Gas Insulated Substation (GIS) added another 96MW, raising the facility’s capacity from 60MVA to 180MVA.
The upgrade replaces an outdoor transformer that had served as a stopgap after the original facility, commissioned in 1985, was decommissioned.
Business
CBN’s Sidi-Ali wins 2026 overall Spokesperson of the Year Award, courtesy of NSA
•Mrs Hakama Sidi Ali.
The Ag. Director of Corporate Communications of the Central Bank of Nigeria (CBN), Mrs. Hakama Sidi-Ali, has won the 2026 edition of the National Spokespersons Award (NSA).
The recognition was announced during the 6th National Spokespersons Awards and the 4th Economic Confidential Annual Lecture, organised by Image Merchants Promotion Limited (IMPR), publishers of PRNigeria, Economic Confidential and Spokespersons Digest, held in Abuja, recently.
The organisers stated: “With the latest honour, Sidi-Ali completed an unprecedented hat-trick at the National Spokespersons Awards, becoming the first communications professional to progress from winning a sector-specific award twice consecutively to claiming the overall Spokesperson of the Year title.
Business
Naira Exchange Rates Tuesday,18 August
BLACK MARKET RATES
US Dollar (USD) Buy ₦1,405 Sell ₦1,413
Great British Pound (GBP) Buy ₦1,880 Sell: ₦1,900
EURO (EUR) Buy ₦1,580 Sell ₦1,600
Canadian Dollar (CAD) Buy ₦1,020 Sell ₦1,080
South African Rand (ZAR) Buy ₦75 Sell ₦90
Ghana Cedi (GHS) Buy ₦95 Sell ₦110
West African CFA Buy ₦2, 300 Sell ₦2, 400
CENTRAL AFRICAN CFA Buy ₦2,150 Sell 2,250
CBN Exchange Rates
US Dollar (USD) ₦1,349.54
Great British Pound (GBP) ₦1,830.11
EURO (EUR) ₦1,564.79
Swiss Franc (CHF) ₦1,667.74
Chinese Yuan (CNY) ₦200.19
West African CFA (XOF) ₦2. 39
West African Unit Account (WAUA) ₦1,855.18
Saudi Riyal (SAR) ₦359.44
South African Rand (ZAR) ₦83.31
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