Greetings and welcome to the Ipledge2Nigeria roundup of the seven most recent business news.

 

Marketers get foreign investors’ backing for 30,000 gas stations

 

Oil marketers, on Sunday, confirmed that they have received the nod of domestic and international financiers to develop about 30,000 gas stations nationwide.

It was also gathered that many of the stations were currently being converted to start dispensing gas, following the decision of the Federal Government to deploy about 11,000 vehicles to run on Compressed Natural Gas, as part of plans to cushion the removal of fuel subsidy.

 

Forex: Domestic operators lament over 40 aircraft grounded abroad

No fewer than 40 aircraft belonging to domestic airlines are currently grounded in maintenance facilities abroad and in Nigeria due to lack of access to foreign exchange from the Central Bank of Nigeria to pay the necessary bills, according to finding

While over 30 airplanes are stranded overseas, a little above 10 aircraft are grounded in Nigeria due to lack of forex to acquire some major spare parts from abroad.

Aside from the grounded planes, some operators are unable to acquire new aircraft engines to replace old ones that have completed their cycles due to dollar scarcity.

 

Jos Disco Alerts Customers To Power Outage

The Jos Electricity Distribution (JED) has said that its customers in Plateau, Bauchi and Gombe states would experience power outage from August 28 to September 2.

According to the distribution company, the planned outage will hold from 9am to 5pm within the period.

Surveyors Say Construction Sector Facing Material Shortage

The Nigerian Institute of Quantity Surveyors has said that the construction sector is struggling with material shortages caused by naira devaluation.

According to a statement, the institute noted foreign exchange scarcity in the country had price uncertainty.

Tony Elumelu Calls For Private Sector Empowerment

Tony Elumelu, the Chairman of United Bank for Africa Plc, has emphasised the need to empower the private sector to transform Nigeria.

He made the call at the 63rd Annual General Conference of the Nigeria Bar Association (NBA) held on Sunday, August 27, 2023, in Abuja.

ICAN Inaugurates First Bank Chapter

The Institute of Chartered Accountants of Nigeria (ICAN) has established the First Bank chapter to strengthen goals and technical skills within the accounting field for the bank’s employees.

According to the News Agency of Nigeria (NAN), the inauguration took place at the Firstbank’s headquarters on Monday in Lagos, when the council of the institute paid a courtesy visit to the bank  

Social Media Handles: CBN, FG Review Regulation

The National Commissioner of the Nigeria Data Protection Commission, Dr Vincent Olatunji, has revealed that the commission has partnered with the Central Bank of Nigeria to review the regulation mandating financial institutions to obtain social media handles, among other data, of customers.

He disclosed this a two-day sensitisation workshop on Data Privacy and Protection in Abuja on Thursday.

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