• FG lifts suspension of Arik Air’s operations
• Nigeria ranked ninth African investment destination
• Naira trades at ₦1,596/$ as forex inflows hit $25 billion
• New cement company offers Nigerians cement for sale at ₦6,000
• Tobi Amusan returns to the Stade de France for 100m hurdles semi-final

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

FG lifts suspension of Arik Air’s operations

After Arik Air was grounded due to its $2.5m debt owed to Atlas Petroleum, the suspension on the airline has now been lifted.

According to Michael Achimugu, the Director of Public Affairs and Consumer Protection at the Nigerian Civil Aviation Authority (NCAA), the dispute between Atlas Petroleum and Arik Air has been settled so the airline can resume its operations.

“By this resolution, Arik Air will begin operations today. The Minister and the NCAA’s priority is to ensure safe and secure air travel for all passengers. Arik Air passengers are checking in for scheduled flights,” he wrote on X.

Nigeria ranked ninth African investment destination

Nigeria is ranked as the ninth African investment destination in 2024, behind other African countries like Egypt, Seychelles, Mauritius, South Africa, Morocco, Ghana, Tunisia, and Senegal.

The report was released in RMB’s Where to Invest in Africa, as it stated that Nigeria scored 0.163 when examined on the four pillars of economic performance and potential, market accessibility and innovation, economic stability and investment climate, and social and human development.

The report also mentioned Nigeria’s former glory as the country with the largest economy in Africa, but it now ranks third on the list following its naira devaluation.

Naira trades at ₦1,596/$ as forex inflows hit $25 billion

The Nigerian currency trades at ₦1,596/$ in the official foreign exchange market as the Central Bank of Nigeria (CBN) announces that the net foreign exchange flows have increased to $25.4 billion within the year’s first six months.

The apex bank released a statement saying that the growth of the forex inflows was triggered by the rise in capital importation, which hit $6 billion in June 2024.

“The CBN’s policy objectives yield tangible results and bolster market confidence. Net foreign exchange flows rose to $25.4bn between January and June, marking a 55% year-over-year increase,” the statement reads in part.

New cement company offers Nigerians cement for sale at ₦6,000

Nigerian cement company owned by billionaire Dahiru Mangal, CEO of Mangal, has offered to sell cement to Nigerians at the affordable rate of ₦6,000 per bag.

The $1.5 billion Mangal Cement plant was recently constructed in Kogi State. To drive more customers, it has chosen to rival Nigeria’s three biggest cement companies, namely Lafarge Cement, BUA Cement, and Dangote Cement.

Earlier this year, cement manufacturers agreed to sell cement at the rate of ₦7,000 or ₦8,000 due to the naira devaluation and its adverse effects on the Nigerian economy.

Tobi Amusan returns to the Stade de France for 100m hurdles semi-final

Nigerian athlete Tobi Amusan will be making a show at the 2024 Paris Olympics on August 9 (today) for the 100-metre hurdles semi-final at the Stade de France.

Amusan entered the semi-finals by coming first in the quarterfinals with a record of 12.49s, USA’s Alaysha Johnson came in second with 12.61s, and Janeek Brown came in with 12.84s.

Nigerians now place their hopes on Tobi Amusan as all other athletes in line to earn a medal in the 2024 Paris Olympics have unfortunately been disqualified or defeated in their categories, leaving little space left for Nigerians to compete for an Olympic medal.