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The Managing Director and CEO of the Nigerian Railway Corporation (NRC), Dr. Kayode Opeifa has highlighted the crucial role of the Southeast Development Commission (SEDC) in the Federal Government’s mission to expand and modernize the country’s railway infrastructure. This was the key message delivered during a recent visit by top railway officials and stakeholders. The ...
Business
The Centre for the Promotion of Private Enterprise (CPPE) has strongly opposed the federal government’s proposed ban on the importation of solar panels, warning that such a move could substantially exacerbate Nigeria’s energy crisis. This opposition comes in response to a recent statement by the Minister of Science and Technology, Mr. Uche Nnaji, who suggested ...
Energy
With the Federal Government setting a production target of 2.06 million barrels per day for 2025, the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has issued a stern warning to oil licence holders who have failed to develop their wells for decades. He cautioned that operators who have left oil fields dormant ...
Business
The management of the Nigerian Maritime Administration and Safety Agency (NIMASA) has extended its felicitations to the Muslim community in Nigeria and the maritime sector on the occasion of Eid-al-Fitr.NIMASA’s Director General, Dr Dayo Mobereola, conveyed this message in a statement issued by the agency’s Head of Public Relations, Mr. Edward Osagie, on Sunday in ...
Energy
The Nigeria Economic Summit Group (NESG) has urged the Federal Government to maintain crude oil production at 2.2 million barrels per day (bpd) to uphold the viability of the 2025 budget. Speaking at a media briefing in Abuja on Friday, where NESG outlined its strategic vision for 2025 and shared the private sector’s macroeconomic outlook, ...
Capital Market
President Bola Tinubu has signed the Investments and Securities Act (ISA) 2025 into law, repealing the Investments and Securities Act No. 29 of 2007. The Securities and Exchange Commission (SEC) announced this landmark development on Saturday, noting that the new legislation strengthens the legal framework of the Nigerian capital market. It enhances investor protection and ...
Capital Market
Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has released its Audited Consolidated and Separate Financial Statements for the year ended December 31, 2024, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE). The Group reported profit before tax of ¦ 1.266trilion, representing an increase of 107.8 per cent over ¦ 609.3billion ...
Business
Zenith Bank Plc has once again demonstrated its dominance in the Nigerian banking sector, achieving remarkable financial growth and key milestones in 2024. With impressive earnings, strategic expansions, and multiple accolades, the bank continues to solidify its reputation as a leading financial institution in Africa. Financial Performance and Growth Zenith Bank recorded an outstanding financial ...
Business
The Nigeria Customs Service (NCS) has announced plans to introduce an Electronic-Currency (E-Currency) declaration form as part of its strategy to combat money laundering. This initiative targets travellers carrying significant sums of cash into or out of Nigeria. Speaking to journalists on Thursday in Abuja, NCS spokesperson Abdullahi Maiwada revealed that the digital form would ...
News
…..says ETO app upgraded 160 times The firm handling the Electronic Call-Up system for trucks at the Lagos Ports, Trucks Transit Parks (TTP) have raised the alarm that some individuals, both outside and in government, who benefitted from the extortion of N300,000 and N250,000 from truckers along the port access roads before the implementation of ...
Top Story
The Federal Government through Nigeria Customs Service (NCS) has waived import duty and Value Added Tax (VAT) on critical raw materials essential for pharmaceutical production for a period of two years. Its Spokesperson, Abdullahi Maiwada, made this known in a statement on Wednesday in Abuja. Maiwada explained that the waiver aligned with the Presidential directives ...
Capital Market
The Debt Management Office (DMO) says the Federal Government has been able to raise a total of N1.09 trillion through the Sovereign Sukuk since 2017, to support infrastructure development. The Director-General of the DMO, Patience Oniha, said this on Wednesday in Lagos, during “an all parties meeting” for the issuance of the seventh series of ...
News
A new report by the Independent Media and Policy Initiative (IMPI) has commended President Bola Ahmed Tinubu’s economic reforms for driving record trade growth and increasing foreign investment but warns of significant political risks as the country adapts to sweeping policy changes. According to IMPI’s analysis, Tinubu’s administration has pursued bold macroeconomic reforms, including the ...
Maritime
...We will sustain momentum — NIMASA DG The United States Coast Guard has praised Nigeria, along with the Nigerian Maritime Administration and Safety Agency (NIMASA), for what it described as significant advancements in the implementation of the International Ship and Port Facility Security (ISPS) Code. This commendation was made public by Joe Prince Larson of ...
Maritime
NLNG Shipping and Marine Services Limited (NSML) has reported significant progress in creating sea time opportunities for Nigerian cadets, announcing that it has trained nearly 300 cadets under the Nigerian Seafarers Development Programme (NSDP) and has employed 100 of them. NSML Managing Director, Abdulkadir Ahmed, made this known in Lagos on Monday during an event ...
Maritime
The Minister of Marine and Blue Economy, Adegboyega Oyetola, has commended the acting Rector of the Maritime Academy of Nigeria (MAN), Oron, Dr Kevin Okonna, for fostering a strong framework of dialogue and cooperation to enhance sustainable safety on the nation’s inland waterways. The Minister made this statement during a two-day Safety Awareness Workshop for ...
Business
The GSMA Board of Directors has appointed Gopal Vittal, Vice Chairman and Managing Director of Bharti Airtel, as its new Chairman until the end of 2026. Previously serving as Acting Chair, Vittal is now the second Indian to assume this esteemed position, following Sunil Bharti Mittal. In his new role, Vittal will be responsible for ...
Business
The Federal Government of Nigeria (FGN) provided a ¦ 471.69 billion electricity subsidy in the fourth quarter of 2024 (Q4 2024), according to the Nigerian Electricity Regulatory Commission (NERC). This subsidy accounted for 57 per cent of the total energy generated during the period, covering the cost difference arising from the suspension of end-use customer ...
News
In a significant move to modernise insolvency proceedings in Nigeria, the Honourable Chief Judge of the Federal High Court, Hon. Justice John Terhemba Tsoho, has established a dedicated Insolvency Unit within the court system. The unit, created under the provisions of key financial and corporate laws—including the Companies and Allied Matters Act, 2020, the AMCON ...
Maritime
The Federal Government of Nigeria, through its Ministry of Marine and Blue Economy and the Nigerian Maritime Administration and Safety Agency (NIMASA), has reaffirmed its commitment to securing the formal recognition of seafarers as key workers. According to the government, this designation would ensure legal protection, establish a cohesive framework between the International Labour Organisation ...
