Reporter
2,051 stories
Business
The Federal Government is in advanced discussions with private investors to raise nearly $60 million for the electrification of Onne Port in Rivers State, setting the stage for Nigeria’s first green port. Vice President Kashim Shettima disclosed this at the “Decarbonising Infrastructure in Nigeria Summit” held at the Presidential Villa in Abuja. The summit, themed ...
Finance
The Nigerian stock market experienced a strong rebound in trading activity this week, with a total of 5.47 billion shares valued at ₦108.1 billion exchanged in 118,570 transactions on the floor of the Nigerian Exchange Ltd (NGX). This represents a marked increase from the previous week’s turnover of 3.9 billion shares worth ₦102.22 billion in ...
News
The Nigerian Senate has intensified its scrutiny of the Nigerian National Petroleum Company Limited (NNPCL), issuing a 10-working-day deadline for the company to account for financial discrepancies amounting to ₦210 trillion in its audited records. The ultimatum was delivered by the Senate Public Accounts Committee, chaired by Senator Aliyu Wadada, during a high-tension session probing ...
Business
..Says bank debtors damaged Nigerian economy …Foreign asset tracers to locate obligors hidden assets …Arik Air returning to profitability The Asset Management Corporation of Nigeria (AMCON) has confirmed the sale of the Ibadan Electricity Distribution Company (IBEDC) for ₦100 billion, nearly twice the amount initially proposed during the transaction’s early stages. This development concludes a ...
News
The Apapa Area Command of the Nigeria Customs Service has announced a significant milestone in its operations, recording a revenue collection of ₦1.38 trillion in the first half of 2025, a 35% increase compared to the same period in 2024. This was disclosed by Comptroller B.O Olomu, FSI, Ph.D., during a press briefing at the ...
News
…Sets to revive fishing terminals, Incentivise Private Investment The Honourable Minister of Marine and Blue Economy, His Excellency Adegboyega Oyetola, CON, has said that Nigeria has recorded three consecutive years without a single piracy incident in its territorial waters. Speaking at the Stakeholders Forum on the effective implementation of the National Policy on Marine and ...
Business
The Transportation Correspondents Association of Nigeria (TCAN) is set to hold its 2025 Transportation Summit, an annual event that provides a platform for stakeholders’ interaction on pertinent issues affecting the nations transportation sector. In a statement released by the TCAN Transport Summit Organising Committee, this would be the second edition of the summit, which was ...
Business
Telecommunication operators across Nigeria have temporarily suspended all SIM card registrations, replacements, and related services due to a nationwide disruption caused by an ongoing platform migration. The Association of Licensed Telecommunications Operators of Nigeria (ALTON), which represents the country’s mobile network operators (MNOs), disclosed on Tuesday that the disruption stems from a mandated transition to ...
Maritime
The President General of the Maritime Workers Union of Nigeria (MWUN), Comrade Francis Bunu Abi, has raised alarm over the growing outsourcing of roles designated for junior staff at the Nigerian Ports Authority (NPA), warning that the trend threatens the survival of the union. Comrade Bunu made the remarks on Monday during the 6th Quadrennial ...
Maritime
The Women’s International Shipping and Trading Association (WISTA) Nigeria has commended the landmark appointments of two distinguished women in the maritime sector: Madam Jemilat Mahamah as Chair of the Board of the Ghana Maritime Authority, and Ms Iroghama Ogbeifun as a Board Member of the Nigerian Maritime Administration and Safety Agency (NIMASA). Describing the appointments ...
News
The June 2025 edition of the Global Performance Index (GPI) Bulletin has revealed an alarming deterioration in Nigeria’s hunger and poverty situation, attributing much of the crisis to recent government austerity measures that have severely impacted vulnerable groups across the country. According to March Oyinki, Group Director of Advocates for Positive Development (APD), Nigeria’s hunger ...
Business
Debt service payments by developing countries soared by 74 billion dollars in 2024 from 847 billion dollars to 921 billion dollars, a new UN report has shown. The report, ‘Confronting the Debt Crisis: 11 Actions to Unlock Sustainable Financing’, was launched on Friday by UN Deputy Secretary-General Amina Mohammed. Mohammed was joined by experts Mahmoud ...
News
The June 2025 edition of the Global Performance Index (GPI) Bulletin paints a grim picture of Nigeria’s hunger and poverty crisis, highlighting the severe impact of recent government austerity measures on the country’s most vulnerable populations. According to Group Director of Advocates for Positive Development (APD), March Oyinki, Nigeria’s hunger index continues to worsen due to ...
Capital Market
Investors on the Nigerian Exchange (NGX) traded a total of 3.903 billion shares valued at ₦102.221 billion in 114,484 transactions this week, representing a 12.9 per cent drop in the value of transactions compared to last week’s 3.566 billion shares worth ₦115.403 billion exchanged in 99,960 deals. Despite the decline in trade value, the NGX ...
News
Nigeria’s total public debt has climbed to a staggering N149.39 trillion as of March 31, 2025, representing a year-on-year increase of N27.72 trillion or 22.8 per cent, according to the latest figures released by the Debt Management Office (DMO). The report also reveals a quarter-on-quarter rise of N4.72 trillion or 3.3 per cent, up from ...
Money market
Guaranty Trust Bank Ltd. has announced that all its branches across Nigeria will close earlier than usual on Monday, June 30. The bank made this known in a customer email sent on Saturday, informing clients of the temporary change in operation hours. According to the message, the early closure is to allow for the bank’s ...
Money market
...Nominees to strengthen public trust in financial institutions -Lado The Senate on Thursday confirmed the appointments of Mr Thompson Sunday as Managing Director and Dr Kabir Katata as Executive Director of the Nigerian Deposit Insurance Corporation (NDIC). Their confirmation followed the consideration and approval of a report submitted by the Senate Committee on Banking, Insurance ...
Business
The Nigerian Content Development and Monitoring Board (NCDMB) and Dangote Petroleum Refinery and Petrochemical Company have formally inaugurated a Joint Technical Committee (JTC) to strengthen local content implementation during the operational phase of Africa’s largest refinery. The inauguration, held at the Dangote Free Trade Zone in Ibeju-Lekki, Lagos, included the signing of the committee’s Terms ...
Business
The Nigerian Airspace Management Agency (NAMA) has issued a seven-day ultimatum to oil and gas operators across the country, demanding full compliance with the mandatory payment of helicopter landing levies for air navigation services or risk punitive measures, including the suspension of flight clearances. In a statement signed by its management, NAMA stated that the ...
News
The Secretary-General of the Maritime Organisation for West and Central Africa (MOWCA), Dr Paul Adalikwu, on Wednesday disclosed ongoing diplomatic efforts to secure a bloc vote from the organisation’s 25 member countries in support of Nigeria’s bid for re-election to the International Maritime Organisation (IMO) Council later this year. Speaking with maritime journalists in Lagos, ...
