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The Honourable Minister of Marine and Blue Economy, His Excellency Adegboyega Isiaka Oyetola, CON, has shed light on the intense and often dangerous behind-the-scenes battles that culminated in the clearing of the infamous Apapa gridlock, a crisis that crippled Nigeria’s port operations and stifled economic activities for over two decades. Speaking on Wednesday to members ...
Business
… Pushes for more success stories amid Q1 achievements The 62nd regular meeting of the Nigeria Customs Service (NCS) Board was held on Tuesday, April 29 2025, at the Service’s Headquarters in Maitama, Abuja. The session was chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who led a high-powered ...
News
Shareholders of Dangote Sugar Refinery Plc have voiced strong approval of the company’s performance and leadership, following the announcement of a 51 percent surge in turnover for the financial year ending 31 December 2024. At the company’s 19th Annual General Meeting (AGM) held in Lagos on Tuesday, the management reported a revenue of ¦ 665.6 ...
Money market
Zenith Bank has confirmed it is under no obligation to raise additional capital after comfortably surpassing the Central Bank of Nigeria’s (CBN) minimum requirement of N500 billion. The bank now holds a capital base of N614.65 billion, reaching 160 per cent of the CBN’s threshold. This milestone follows a significantly oversubscribed hybrid offering concluded earlier ...
Crime
Nigeria has recorded more than 735 mass abductions since 2019, a stark reflection of the country’s escalating Kidnapping for Ransom (KFR) epidemic, according to a report released on Tuesday by the Nigeria Financial Intelligence Unit (NFIU). The report, titled “Typologies of Money Laundering Through Kidnapping for Ransom in Nigeria,” offers a grim assessment of how ...
Maritime
Nigeria has officially endorsed revisions to eight key provisions of the Maritime Labour Convention (MLC) 2006, reinforcing its pledge to safeguard the welfare, rights, and working conditions of seafarers. The endorsement was made at the 5th Special Tripartite Committee Meeting of the International Labour Organization (ILO), held in Geneva. Heading the Nigerian delegation was the ...
News
Minister of Marine and Blue Economy, His Excellency Adegboyega Oyetola, on Tuesday 29th April 2025, officially flagged off the distribution of 42,000 life jackets to waterway users across 12 selected riverine states. The initiative, flagged off at a ceremony in Minna, Niger State, is aimed at curbing the alarming rate of boat mishaps and fatalities ...
News
The Lagos State Waterways Authority (LASWA) has issued a public advisory urging all users of the state’s inland waterways to remain especially vigilant as the rainy season begins. According to a statement released on Monday, the agency underlined that the rainy months typically usher in rising water levels, unpredictable currents, and reduced visibility, conditions that ...
Aviation
...Says Airports facilities lack access to modern technologies The Nigerian Airspace Management Agency (NAMA) has raised concerns over the security of numerous airports and airspace facilities across the country, citing outdated technology and poor coordination among agencies as major vulnerabilities. At an aviation security stakeholders symposium hosted by the Nigeria Civil Aviation Authority (NCAA), with ...
Business
The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) and the Organised Private Sector of Nigeria (OPSN) have identified the country’s persistent public sector deficit as the primary challenge in achieving the Federal Government’s ambitious target of transforming Nigeria into a $1 trillion economy by 2030. In a statement, Dele Kelvin Oye, ...
Business
The Lagos State Government has officially launched its EcoMove campaign, urging transport unions, mechanics, and residents to collectively embrace environmentally conscious practices in a bid to create a cleaner, healthier city. The campaign places a strong focus on the importance of sustainable transportation in reducing carbon emissions and enhancing public health across Lagos. Addressing the ...
Energy
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and its Chief Executive, Engr. Gbenga Komolafe, have been nominated for top honours at the 2025 Africa Energies Summit Awards, set to take place on 15 May in London. The Commission has been shortlisted for the Rhino Award, which recognises Africa’s most outstanding regulatory bodies and national oil ...
Money market
Zenith Bank Plc reaffirmed its commitment to delivering sustained shareholder value, approving a final dividend of NGN4.00 per share. This brings the total dividend for the 2024 financial year to NGN5.00 per share, amounting to a payout of NGN195.67 billion. Addressing shareholders at the Civic Centre in Victoria Island, Lagos, the Founder and Chairman, Jim ...
Environment
The Lagos State Waterways Authority (LASWA) has issued a public advisory urging all waterway users to exercise heightened caution as the rainy season sets in. The agency emphasized that the season typically brings increased water levels, unstable currents, and poor visibility, all of which pose significant risks to water transport operations. In a statement released ...
Energy
A coalition of legal practitioners under the banner of Guardians of Democracy and Rule of Law staged a protest on Monday at the Federal Ministry of Finance, calling for a judicial inquiry into the administration of former Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kolo Kyari. The demonstrators, led ...
News
The Management of the Nigerian Railway Corporation (NRC) has confirmed that the Warri-Itakpe Train Service (WITS) will officially resume operations on Wednesday, 30 April 2025, following a temporary suspension that began on 10 April 2025 due to multiple engine failures and other technical and operational difficulties. In a statement signed by Acting Deputy Director of ...
Aviation
The Nigeria Civil Aviation Authority (NCAA) has issued a firm warning to local airport and airstrip operators that failure to obtain the required operational permits will attract sanctions beginning from 1 January 2026. This declaration was made on Monday by the Director of Aerodrome and Airspace Standards at the NCAA, Godwin Balang, during the Airstrip ...
Capital Market
The Securities and Exchange Commission (SEC), has called for enhanced collaboration among African markets for a stronger interconnection within the continent as well as development of new products. In a statement made available to Nigerian NewsDirect on Monday in Lagos, the Director-General of the Securities and Exchange Commission, Dr Emomotimi Agama made the call during ...
Business
Fitch Ratings has upgraded the Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) of Lagos, Kaduna, Kogi, and Oyo states from ‘B-’ to ‘B’, with a Stable outlook for all four states. The decision, announced on the agency’s website, follows the recent upgrade of Nigeria’s sovereign rating to ‘B’ from ‘B-’ on April 11, 2025. ...
Capital Market
Transactions on NGX up 30.26%, investors gain N13bn in one week Investors on the Nigerian Exchange Ltd. traded a total of 1.854 billion shares valued at N56.025 billion in 51,386 transactions over the course of the week. This marked a notable increase compared to the previous week’s figures, when 1.525 billion shares worth N43.006 billion ...
