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Seun Ibiyemi

2,051 stories

  1. Business

    Tinubu pledges pro-business reforms, stronger telecom infrastructure to attract investment

    …As Airtel plans $500m investment In a bid to strengthen Nigeria’s telecommunications sector and attract foreign investment, President Bola Tinubu has announced plans to overhaul the regulatory framework, aligning it with global best practices. The proposed reforms will focus on protecting critical telecom infrastructure, fostering a business-friendly environment, and stimulating economic growth. Speaking in Abuja ...

  2. Maritime

    Nigeria partners with DP World to modernise ports, boost maritime trade

    In a strategic move to enhance Nigeria’s maritime sector, Minister of Marine and Blue Economy, His Excellency Adegboyega Oyetola, CON, welcomed a delegation from DP World UAE, led by Group Chairman and CEO Sultan Ahmed bin Sulayem. The discussions focused on modernising and automating Nigerian ports by leveraging DP World’s expertise in port management and ...

  3. Business

    LCCI recommends 5% annual port tariff to reduce inflationary pressures

    The Lagos Chamber of Commerce and Industry (LCCI) has proposed a phased port tariff increase of five percent annually over three years to ease the financial strain on businesses and minimise inflationary pressures on Nigerians. This recommendation follows the Nigerian Ports Authority’s (NPA) recent announcement of a 15 percent tariff hike, marking the first adjustment ...

  4. Business

    Nigeria’s debt may hit $9.2bn as World Bank set to approve new $2.2bn loan

    The World Bank is set to approve a $2.2 billion loan for Nigeria in 2025, spread across six development projects as the international financial institution continues to support the country’s economic and structural reforms. According to the Washington-based financial institution, the funding will support key initiatives in education, health, digital infrastructure, and economic resilience. Data ...

  5. News

    GTCO transforms lives with Waste-for Gas initiative

    …Distributes 3,000 gas cylinders to Obafemi Owode community As part of its ongoing efforts to enhance the quality of life for households and empower women in underserved communities, GTCO PLC at the weekend launched its Waste for Gas initiative which saw over 3,000 residents of Obafemi Owode Local Government Area of Ogun State, receive a ...

  6. Business

    Tax Reforms will attract international investments — Tinubu

    ...Tax Reform Bills will drive Nigeria toward $1trn economy — Senate, NNPC President Bola Ahmed Tinubu on Tuesday stated that Nigeria’s current tax reform policies will attract both local and international investors. The reforms, he said, are designed to simplify the country’s tax regulations, offer incentives, and create a more transparent and predictable fiscal framework. ...

  7. Top Story

    Nigeria records 3.84% GDP growth in Q4 2024

    Nigeria’s Gross Domestic Product (GDP) growth rate in real terms (Constant price) grew by 3.84 percent in the fourth quarter (Q4) of 2024 on a year-on-year basis, showing is 0.38 percentage points higher than 3.46 percent recorded in Q4 2023. The National Bureau of Statistics (NBS) that released the data on Tuesday said, similarly, it ...

  8. Maritime

    NIMASA enhancing internal processes as C4i grants access to surveillance unit

    In a strategic move to bolster surveillance and enhance revenue generation, the Surveillance Unit of the Shipping Development Department at the Nigerian Maritime Administration and Safety Agency () has been granted single-user access to the Windward tool of the C4i intelligence system. This development extends the application of the C4i facility previously focused on safety ...

  9. Maritime

    NNPC, Caverton partner to boost Nigeria’s maritime sector

    The Nigerian National Petroleum Company (NNPC) Shipping has signed a joint venture agreement with Stena Bulk and Caverton Marine Limited to establish a new tanker operation aimed at strengthening Nigeria’s maritime transportation and energy logistics. The agreement, signed in London last week, will enable the partners to create a shipping company focused on transporting crude ...

  10. Maritime

    NPA urges traders, investors to leverage simplified export processes

    The Managing Director of the Nigerian Ports Authority (NPA), Abubakar Dantsoho, has encouraged traders and investors to take advantage of the agency’s streamlined export procedures and emerging opportunities to enhance economic growth. Speaking at the NPA’s ‘Special Day’ during the Kaduna International Trade Fair, Dantsoho assured stakeholders that the agency remains open for collaboration beyond ...

  11. Maritime

    NIMASA commits to Strengthen Maritime Business Growth

    The Nigerian Maritime Administration and Safety Agency (NIMASA) has reaffirmed its commitment to fostering a level playing field and creating an enabling environment for businesses in Nigeria’s maritime sector. The Director General of NIMASA, Dr. Dayo Mobereola, made this known while receiving the Executive Members of the Nigerian Merchant Navy Officers and Water Transport Senior ...

  12. Energy

    N100bn debt: Supply disruption imminent as tanker drivers, Marketers issue FG 7-day ultimatum

    Petroleum marketers have issued a seven-day ultimatum to the Federal Government over the N100 billion debt owed to them, warning that a supply disruption is imminent if the issue is not resolved. The marketers, under the aegis of the Independent Petroleum Marketers Association of Nigeria (IPMAN) and other industry stakeholders, claim that the unpaid debts ...

  13. Business

    Customs cancels import declarations under suspended 4% FOB charge

    In a bid to maintain operational consistency, the Nigeria Customs Service (NCS) has annulled all import declarations made during the brief implementation of the 4 per cent Free-on-Board (FOB) charge. This decision follows the earlier suspension of the charge and aims to prevent disruptions in the clearance of imported goods. In a statement released on ...

  14. Business

    Tax reforms to strengthen macroeconomic stability — Oyedele

    ...Embrace FG’s tax reforms, Akpabio urges Nigerians ...NNPC, RMFAC, Arewa Think Thank, others support reforms The Chairman of the Presidential Fiscal Policy and Tax Reform Committee, Mr. Taiwo Oyedele, has stated that the new tax reform is designed to strengthen Nigeria’s macroeconomic stability. Oyedele made the remarks during an interview with journalists in Abuja on ...

  15. Business

    Again, MultiChoice increases DStv, GOtv tariffs months after

    MultiChoice Nigeria has once again announced a price increase for its DStv and GOtv subscription packages, just months after the last adjustment. The pay-TV giant attributes the latest hike to rising operational costs, inflation, and the depreciation of the naira. According to a statement released by MultiChoice, the new tariffs will take effect from March ...

  16. Business

    Arbitrary fines: Maritime unions, truckers threaten port shutdown

    The Maritime Workers Union of Nigeria (MWUN), the Nigerian Association of Road Transport Owners (NARTO), and the Association of Maritime Truck Owners (AMATO) have issued a three-day ultimatum to the Lagos state government, threatening to withdraw their services and shut down port operations. The action is in response to alleged indiscriminate arrests and exorbitant fines ...

  17. Energy

    Heirs energies forum: Public, private sector leaders unite to boost Nigeria’s oil production

    Leaders from Nigeria’s oil and gas sector, both public and private, gathered at the inaugural Petroleum Industry Leadership Dialogue hosted by Heirs Energies in Abuja. The forum, held at the Transcorp Hilton, focused on accelerating Nigeria’s crude oil production to drive economic growth. Moderated by Heirs Energies CEO Osayande Igiehon, the event featured key industry ...

  18. Business

    Declining food prices: Assessing economic impact of CBN’s retained MPR at 27.5%

    In its 299th meeting held on February 19-20, 2025, the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) unanimously decided to retain the Monetary Policy Rate (MPR) at 27.5.per cent. This decision comes in the context of a significant decline in food prices across the country, following the National Bureau of Statistics’ (NBS) rebasing ...

  19. News

    SERAP sues CBN’s failure to reverse ATM increase fees

    The Socio-Economic Rights and Accountability Project, SERAP, has filed a lawsuit against the Central Bank of Nigeria, CBN, over what it termed the “failure to reverse the patently unlawful, unfair, unreasonable and unjust increase in Automated Teller Machine (ATM) transaction fees.” The CBN recently announced that ATM withdrawals made at a machine owned by a ...

  20. Aviation

    Air Peace to showcase enhanced connectivity at 2025 exhibition in Berlin

    Air Peace has announced that it will showcase its growth trajectory and enhanced connectivity across Africa, the Middle East, Asia, and Europe at the 2025 International Travel Berlin (ITB Berlin) Exhibition. Dr Ejike Ndiulo, the airline’s Head of Corporate Communications, confirmed in a statement issued in Lagos that Air Peace would join over 10,000 exhibitors ...