General News
IATA Rues Sluggish Air Cargo Growth

The International Air Transport Association (IATA) released data for global air freight markets showing that growth continued to slow in May.
Compared to May 2014, growth in freight tonne kilometers (FTK) was 2.1%, the slowest rate this year and outpaced by a capacity expansion of 4.3%.
On a year-to-date basis, freight volumes are up 4% on the previous year, but much of that growth was realized in the latter part of 2014.
Carriers in most regions, with the exception of those based in the Middle East, saw weak growth or even contractions.
In aggregate, airlines in North and Latin America and Europe reported that their freight business was smaller in May 2015 than in the same month of 2014. Carriers in Asia-Pacific experienced slow growth as a result of poor import/export performance.
“Cargo growth has undoubtedly come off the boil. The expansion in volumes we saw in 2014 has ground to a halt, and load factors are falling.
Some economic fundamentals still point to a rebound in the second half of the year, but we have to recognize that business confidence is flat and export orders in decline.
There is also the risk of a shock to the economic system of a ‘Grexit’ from the Eurozone,” said Tony Tyler, IATA’s Director General and CEO.
Regional Analysis In Detail
Asia-Pacific carriers reported demand growth of 2.8% in May compared to May 2014, below a capacity expansion of 6.7%.
At the end of Q1, trade volumes for emerging Asia markets were down 10% compared to Q4 2014, although there have been signs of improvement at the start of Q2, which if sustained, would help ease downward pressure on air freight demand.
European carriers saw demand decline by 1.3% in May, compared to a year ago while capacity grew by 2.7%.
Consumer confidence remains subdued in the region, and the region is at risk of economic contagion if a disorderly ‘Grexit’ from the Euro were to occur.
North American airlines reported a fall in demand of 2.9% year-on-year while capacity was cut by 4.2%. The May result is a continuation of the disappointing economic performance in Q1. Stronger growth, however, is expected in coming months as the effects of poor weather and US seaport congestion fade.
Middle Eastern carriers saw demand grow by 18.1%, on the back of increased trade within the region, as well as shippers taking advantage of the Gulf carriers’ hub strategy. Capacity expanded 19.4%.
Latin American airlines reported a fall in demand of 10.5%, while capacity grew by 4.7%. A general increase in regional trade activity has not yet manifested itself in stronger air freight demand, possibly due to continued weakness in Brazil and Argentina, two of the region’s largest economies.
African airlines experienced a 3.0% rise in demand and a 1.3% increase in capacity. Despite some volatility, the region is the third-fastest growing for the year-to-date.
The under-performance of the Nigerian and South African economies may be outweighed by trade activity in the wider region.
Air freight plays a critical role in global trade, transporting some 35% of goods traded internationally.
The slowdown in air freight reflects a general slowing in world trade at a time when it is needed most to reinvigorate faltering economies.
“This week, governments are meeting in Geneva to discuss ‘aid for trade’ and the World Trade Facilitation agreement. If implemented, this could boost world GDP by up to $1 trillion. I urge governments worldwide to bring down the barriers to facilitate trade that will accelerate prosperity and innovation,” said Tyler.
General News
EFCC Declares Tejuosho, City Boys Movement’s Women Leader Wanted over “419”

Economic and Financial Crimes Commission (EFCC,) has declared Halimat Adenike Tejuosho, a women leader of the City Boys Movement, wanted.

Halimat Adenike Tejuosho,
A notice issued by the EFCC on Monday via X said Tejuosho has been declared wanted over an alleged case of obtaining money by false pretence.
The notice was signed by Dele Oyewale, head of Media and Publicity for the EFCC.
The anti-graft agency called on members of the public with useful information about her whereabouts to contact any of its offices nationwide.
The Commission also urged the members of the public to reach out via its official phone lines or email, or report to the nearest police station or other security agencies.
Recall that the City Boy Movement recently appointed Tejuosho as the South-West Zonal Women Leader.
According to a statement signed by the Movement, Tejuosho is to provide strategic leadership and coordination for women-focused activities in the zone, driving political mobilization, civic engagement, and advocacy.
General News
Afreximbank to Fund 3 New Refineries in Nigeria

African Export-Import Bank (Afreximbank) has disclosed plans to finance three additional refineries in Nigeria as part of a broader push to reduce the country’s reliance on imported petroleum products and strengthen local refining capacity.

Denys Denya, senior executive vice president of the bank, made the disclosure on Monday during a virtual media briefing focused on the institution’s 2025 financial performance, crisis response initiatives, and long-term industrialisation strategy.
“We are also financing refining on the continent, which will alleviate the importation of refined products. We are not only supporting Dangote; we’re supporting three other refineries in Nigeria,” Denya said.
The briefing, which focused on the bank’s 2025 financial performance, crisis response initiatives, and industrialisation strategy, also featured a question-and-answer session with journalists across Africa.
Denya explained that the push into refining is driven by recent disruptions in global supply chains, particularly linked to tensions in the Middle East, which have raised the cost and complexity of fuel imports for African economies.
According to him, Afreximbank has adopted a dual approach of supporting immediate trade finance needs while investing in long-term productive capacity to reduce structural import dependence.
He said, “For import-dependent economies, the cost of import is very high… so we have taken a proactive approach of engaging with financial institutions on the continent to increase their facilities so they can issue high-value letters of credit.”
The bank’s intervention is backed by a $10bn Gulf Crisis Response Programme, designed to stabilise access to essential imports such as fuel, food, fertilisers, and pharmaceuticals, while also supporting sectors exposed to global shocks.
Denya noted that the facility is already seeing uptake from countries including Kenya, Ethiopia, and Tanzania, warning that demand could accelerate if geopolitical tensions persist.
Beyond short-term interventions, the Afreximbank executive stressed that financing refining projects across Nigeria and other African countries remains central to the bank’s long-term strategy of industrialisation and export development.
He said the bank’s support for large-scale industrial projects, including the Dangote Group refinery, reflects its commitment to reducing Africa’s reliance on imported refined products and strengthening regional value chains.
“Our support for industrialists who are making a difference on the continent is testimony to this approach. We will continue to champion projects that reduce Africa’s reliance on imported refined products,” he added.
Denya further disclosed that the bank is financing similar refining projects in Angola as part of a continent-wide push to achieve self-sufficiency in petroleum products.
The shift towards local refining, he explained, is also expected to improve macroeconomic stability by reducing foreign exchange pressures associated with fuel imports.
General News
MTN Powers the Ultimate Youth Link-Up with the Launch of Live It 100 Youth Campaign

The Gathering on 100 has officially concluded its pilot edition, closing out 100 continuous hours of culture, creativity, and community engagement at the National Stadium, Surulere. At the climax of the five-day immersive youth experience, MTN Nigeria and the gatherers of the event unveiled the defining message of the movement: “Live It 100.”

The event brought together thousands of young Nigerians in a massive convergence of music, sports, gaming, and creative sessions. From watching the sunrise for four consecutive mornings to actively shaping culture in real-time, attendees experienced a shared journey rooted in endurance and expression.
Operating under a partnership model rather than a traditional corporate sponsorship, MTN stepped back to let the youth lead. The techo embraced the primary narrative that “The Gathering is the fire; MTN is the oxygen”.
Karl Toriola, Chief Executive Officer, MTN Nigeria, said: “The energy we have witnessed here in Surulere over the past 100 hours is proof of the unstoppable spirit of the Nigerian youth. Our strategic intent was to position MTN as the critical engine behind this vibrant youth movement, ensuring the brand is seen as an enabler, not an intruder. The Gathering is the fire; MTN is the oxygen. ‘Live It 100’ is our commitment to powering the platform where the conversation happens. We are giving them the autonomy to lead, while we listen.”
A focal point of the event was the high-stakes Pitchathon segment, which provided a structured arena for startups to showcase working products. Rather than a traditional, heavily branded corporate event, the space felt authentic, unscripted, and transparent, allowing founders to interact directly with expert judges, potential investors, and a live audience.
Onyinye Ikenna-Emeka, Chief Marketing Officer, MTN Nigeria, shared: “The ideas and partnerships formed over these 100 hours show exactly what happens when corporate Nigeria is finally listening to young Nigerians. We recognise that traditional business engagement doesn’t always work for this generation, which is why we empowered the youth to lead. By supporting The Gathering, we are not just celebrating culture; we are fueling the young Nigerian through youth-led innovation and actively investing in their economic potential.”
Beyond business activity, the event recorded consistent engagement across its programming, providing deep insight into the evolving role of youth within Nigeria’s economy. The sustained 100-hour activity highlighted a growing, resilient base of digitally engaged participants who own their lanes and actively create their own opportunities.
As the event closed, MTN reaffirmed their commitment to expanding the platform, ensuring that The Gathering on 100 will continue to evolve as a vital space for both cultural expression and youth-led economic opportunity.
Telecom1 day agoElon Musk Launches XChat with Video Calling to Take on WhatsApp, Messenger
Telecom1 day agoMTN-Backed Pitchathon Awards ₦45m to Startups @‘Gathering on 100’ in Lagos
Telecom1 day agoHow NITDA Is Transforming Corps Members into Digital Millionaires
Telecom1 day agoGlobacom Unveils Two New TVCs Showcasing the Future of Connectivity
Broadcasting1 day agoSERAP, NGE Sue NBC over Threat to Sanction Broadcasters
E-Financial1 day agoCRMI Backs CBN’s New Measures to Curb Fraud
E-Financial1 day agoSystemically Weak Banks Put Nigeria’s $1Trillion Ambition at Risk
News1 day agoBOI MD, Olasupo Olusi, Charts Tech-Driven Path to Growth for Nigeria













