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Business
...Says global growth to decline to 2.8% in 2025 The International Monetary Fund (IMF) has lowered its economic growth projections for Nigeria for both 2025 and 2026, citing a combination of domestic economic pressures and deepening global uncertainties. In its latest World Economic Outlook report, published on Tuesday during the ongoing 2025 Spring Meetings of ...
News
The Lagos State Government has announced that over two million passengers have been transported via the Blue Line Rail since its official launch. The milestone was disclosed by the Commissioner for Transportation, Mr. Oluwaseun Osiyemi, during the 2025 Ministerial Press Briefing at the Bagauda Kaltho Press Centre in Alausa. The announcement comes as part of ...
Business
The Centre for the Promotion of Private Enterprise (CPPE) has voiced strong objections to the proposed Raw Materials Research and Development Council (RMRDC) Bill currently under review by the National Assembly, cautioning that its provisions could negatively impact Nigeria’s export and manufacturing industries. The bill seeks to impose a ban on the export of primary ...
Business
Officials from the Nigerian Airspace Management Agency (NAMA) have initiated important flight checks at the Gateway International Airport in Ogun State, marking a significant milestone towards the commencement of commercial flight services. The checks, carried out throughout the week, represent the beginning of the validation process for the airport’s aviation procedures. During the exercise, the ...
Money market
Union Bank of Nigeria has reaffirmed its backing for locally driven enterprise by sponsoring the 2025 RISE Business Challenge, hosted at the University of Lagos (UNILAG), Akoka. According to a statement issued by the bank on Friday, the sponsorship was part of its Made In Naija initiative and took place during the 6th Annual Youth ...
Energy
The Group Chief Executive Officer, Nigerian National Petroleum Company Limited (NNPC Ltd.), Mr Bashir Ojulari has pledged to attract sectoral investments worth 30 billion dollars and 60 billion dollars by 2027 and 2030 respectively, ramping up in-country production. Ojulari said the company, under his stewardship, would raise crude oil production to over two million barrels ...
Money market
Nigeria’s economy recorded a downturn in net foreign exchange (forex) inflows in January 2025, driven mainly by a marked reduction in contributions from the Central Bank of Nigeria (CBN), according to the apex bank’s January Economic Report published on 17 April. The report reveals that net forex inflows declined to $4.79 billion in January, representing ...
Business
Indigenous shipowners and maritime stakeholders across Nigeria have lauded the Minister of Marine and Blue Economy, Adegboyega Oyetola, for directing the Nigerian Maritime Administration and Safety Agency (NIMASA) to commence the long-overdue disbursement of the Cabotage Vessel Financing Fund (CVFF). This directive, issued on April 15, signals a major turning point after more than two ...
Business
…End this drain on investors Shareholders have expressed strong opposition to the ¦ 436.5 billion paid by seven Nigerian banks to the Asset Management Corporation of Nigeria (AMCON) in 2024, labelling the levy as a drain on investors’ returns and a sign that the corporation has overstayed its welcome. In separate comments made to journalists ...
Energy
…As tariff reforms drive historic growth The Minister of Power, Mr Adebayo Adelabu, has revealed that Nigeria’s power sector recorded an additional N700 billion in revenue in 2024, marking a striking 70 per cent increase compared to 2023. Speaking on Thursday at the 6th Edition of the 2025 Ministerial Press Briefing Series in Abuja, Adelabu ...
Money market
Fidelity Bank PLC, one of Nigeria’s leading tier-one financial institutions, has been recognised as “Nigeria’s Best Private Bank” at the 2025 edition of the Euromoney Awards for Excellence. The award was formally presented at a ceremony held recently at The Savoy in London. Widely regarded as a benchmark of quality in the global banking and ...
Aviation
Chairman of SIFAX Group, Barrister Dr Taiwo Afolabi (CON), has been presented with the Aviation Industry Investor’s Award at the 14th edition of the Nigeria Aviation (NIGAV) Awards and Ministerial Dinner, in recognition of his exceptional role in advancing Nigeria’s aviation industry. At the prestigious event, widely regarded as the nation’s foremost air transport award ...
Business
The Managing Director and Chief Executive Officer of the Nigerian Railway Corporation (NRC), Dr Kayode Opeifa, has expressed confidence that the Federal Government will complete the reconstruction of the Eastern Railway line before the end of President Bola Tinubu’s first term in 2027. Dr Opeifa shared this view during his familiarisation visit to the Eastern ...
Business
The Vice President of Nigeria, Senator Kashim Shettima, has urged Ministries, Departments, and Agencies (MDAs) across the Federal Government to enhance cooperation and alignment with the Presidential Enabling Business Environment Council (PEBEC) in order to cultivate a more business-friendly environment in the country. Speaking on Wednesday during the closing session of the PEBEC Retreat for ...
News
The Minister of Power, Adebayo Adelabu, has attributed Nigeria’s persistent electricity challenges to decades of neglect by previous administrations, accusing them of failing to take meaningful action to transform the sector. Adelabu made the remarks in Abuja while receiving a delegation from the World Bank at his office, where he gave a frank assessment of ...
News
Dangote Petroleum Refinery has announced a reduction in the gantry price of Premium Motor Spirit (PMS), or petrol, to N835 per litre. This marks the second time in two weeks that the refinery has lowered the ex-depot price of the refined product. The price adjustment follows a decline in international crude oil prices, which have ...
Money market
The Independent Media and Policy Initiative (IMPI) has rejected recent claims made by Senator Mohammed Ali Ndume, asserting that the Tinubu administration has not only handled Nigeria’s public debt with prudence but also reduced the country’s external debt by $14 billion within a single year. Responding to Senator Ndume’s televised remarks—which questioned the federal government’s ...
Energy
...Kaduna Refinery hits 81% completion With global crude oil prices continuing their sharp downward trend, the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, has raised serious concerns about the broader economic implications for Nigeria, a country still heavily reliant on petroleum revenues. Speaking during a “Meet-the-Press” session ...
News
...Showcases maritime opportunities The Nigerian Maritime Administration and Safety Agency (NIMASA) has urged private individuals and corporate investors to capitalise on emerging opportunities within Nigeria’s Blue Economy, with a particular focus on the maritime sector. This call was made by the Director-General of NIMASA, Dr Dayo Mobereola, at the ongoing 36th Enugu International Trade Fair. ...
News
In the ever-evolving world of African finance and corporate communications, Oyinade Adegite (Ogunade) has emerged as a remarkable figure known for her strategic brilliance and dedication to community empowerment. As Chief Communication Officer at Guaranty Trust Holding Company (GTCO) Plc since July 2021, Oyinade has played a pivotal role in shaping the narrative of one ...