• FG approves ₦110 billion for student loan
• FG sanctions airlines over delayed ticket refunds
• CBN awards OPay with financial inclusion innovation
• FG cancels Osun State’s airport relocation project
• Fuel price reduced by ₦175 as marketers aim towards lifting petrol from PH refinery

Across Nigeria’s 36 states and the Federal Capital Territory, these are the five top Nigerian news stories you shouldn’t miss.

FG approves ₦110 billion for student loan

The federal government has approved a new student loan of ₦110 billion for all students in public tertiary institutions across Nigeria.

According to reports, about 60% of the sum from this current academic session will be paid to the institutions where successful loan applicants study, and the remaining 40% will be sent to beneficiaries as allowance for the students’ welfare.

The Nigerian Education Loan Fund (NELFUND) revealed the statistics of the loan applications, stating that the loan scheme has about 328,000 applicants on its portal and 417,000 registrants.

FG sanctions airlines over delayed ticket refunds

Through the Nigerian Civil Aviation Authority (NCAA), the federal government has revealed its intentions to sanction airlines over the delayed or cancelled ticket refunds of passengers.

The NCAA stated that if ticket refunds take longer than five hours, the airlines at fault will be reprimanded for their inefficiency and lack of customer experience satisfaction.

This news is spreading after multiple complaints have been submitted by travellers who have found it distasteful for airlines, notably Air Peace, to delay their ticket refunds.

CBN awards OPay with financial inclusion innovation

The Central Bank of Nigeria (CBN) has recognised Nigerian fintech company OPay by awarding a plaque to celebrate its financial inclusion innovation.

The award was given at the 2024 International Financial Inclusion Conference, where OPay’s achievements were highlighted and celebrated by global leaders, industry stakeholders and regulators.

FG cancels Osun State’s airport relocation project

The federal government has announced that it will no longer be supporting the proposed establishment of the Osun State International Airport after considering the request of the Minister of Aviation and Aerospace Development, Festus Keyamo.

The state’s governor, Ademola Adeleke, had planned December 13 for a foundation-laying ceremony of the proposed International Airport, but the Aviation ministry requested a postponement until all arguments surrounding the project had been resolved.

Ede was the suggested town for the airport relocation from Ido-Osun. However, this started a controversy as the people believed that the state governor aimed to develop his hometown (Ede).

Fuel price reduced by ₦175 as marketers aim towards lifting petrol from PH refinery

Fuel prices have crashed by ₦175, going from ₦1,200/litre to ₦1,025/litre due to the competition between Dangote and the Port Harcourt refinery.

This good news comes as the Independent Petroleum Marketers Association of Nigeria (IPMAN) announced that there might be hope of lifting petrol from the recently refurbished Port Harcourt Refinery.