Business

Take-up Of London Office Space At Highest Level Since Start Of The Covid-19 Crisis

Take-up of London office space at highest level since start of the Covid-19 crisis

The amount of central London office space signed for has reached its highest monthly figure since the start of the pandemic, new data shows. A number of pre-let deals, firms that sign for space before the building completes, helped lift take-up in central London in August to 815,700 square feet.Companies inking deals included law firm Travers Smith which pre-let 152,400 square feet just off Farringdon Street.

Property agent CBRE, which calculated the figures, said the August figure was up 63% from the prior month. However, it also pointed out that is still below pre-Covid levels, with the 10 year monthly average being 1 million square feet.

In the 12 months to August, transactions totalled 5.6 million square feet, compared with the market’s annual average of 12.2 million square feet.

Last month’s improvements come as employers look at post-pandemic workspace plans. While some are axing space, there are certain businesses hunting for more room, wanting staff in more modern and spacious offices.

CBRE said in August there were seven buildings with more than 100,000 square feet under offer, with deals nearing.

The firm’s Rob Madden said: “The London office market is making real strides in its recovery as confidence returns and companies continue to enact their return to work policies. We anticipate a continued improvement in the market.”

Landlords will have to grapple with many companies wanting more flexible space options. Numerous bosses have said they plan to offer staff a mixture of home and office hours.

Business

Dangote Refinery reduces petrol price to N825 per litre

Dangote Petroleum Refinery has reduced the gantry price of Premium Motor Spirit, PMS, also known as petrol to N825 per litre from N835 per litre as competition continues in the domestic market.

Recall that last month, the 650,000 barrels per day refinery reduced the gantry price of petrol to N835 per litre from N865 per litre.

The latest adjustment is targeted at giving customers more value, as well as consolidating its leadership position in the domestic market.

Business

NIMC hikes NIN service fees, increases date of birth correction to N28,574

Federal Govt Launches NIN Diaspora Enrolment Centre In UAE

The National Identity Management Commission (NIMC) has announced a revised price list for National Identification Number (NIN) issuance and other related services.

On May 1, the NIMC announced a review of the pricing structure for all its services.

In its report on Saturday, the commission said the cost of correcting the date of birth on a NIMC slip has increased to N28,574, reflecting a 74.87 percent rise from the previous fee of N16,340.

According to the new price list, modifying other details such as name or address now costs N2,000 per transaction, up by 31.41 percent from the earlier fee of N1,522.

While initial NIN enrolment and issuance of slips remain free, NIMC said the reissuance of lost or damaged NIN slips now costs N600, an increase from N500.

Premium enrollment services offered at licensed lounges, visa centres, and pre-booked VIP services now cost N20,000, and VIP reissuance of NIN slips is priced at N3,500.

Additionally, the commission said the fee for retrieving a NIN via USSD services has risen to N50 from N20.

For Nigerians in the diaspora, NIMC said adult enrollment at regular service points in African countries now costs $50, enrollment for children is $30, and reissuance of NIN slips abroad is priced at $6.

According to NIMC, in African countries, the commission said correcting a date of birth now costs $55, and modifying other fields costs $10.

In non-African countries, the commission said name corrections are priced at $60, while other changes cost $20.

In its executive summary of the revised price list, NIMC explained that the adjustments considered the current inflation rate of 32.70 percent, saying most services were increased by at least 20 percent, with certain exceptions based on the nature of the service.

Business

NCAA sanctions Kenya Airways over passenger complaints

The Nigeria Civil Aviation Authority (NCAA) has sanctioned Kenya Airways for several consumer-related violations involving three passengers, including one Gloria Omisore.

This is contained in a statement on Friday by Michael Achimugu, Director of Public Affairs and Consumer Protection.

Achimugu stated the NCAA issued a sanction letter on Wednesday to Kenya Airways regarding the passengers’ complaints

“The infractions include failure to provide care, lack of transparency in carriage terms, poor communication with the Authority, and mishandling refunds and baggage.

“In accordance with the NCAA Regulations 2023, Kenya Airways must pay fines and compensate each affected passenger with 1,000 special drawing rights.

“The airline has seven days to comply. Failure to do so will result in more severe penalties,” Achimugu said