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Nigeria has received an upgrade from Moody’s Ratings from stable to positive while retaining its long-term foreign and local currency issuer ratings at B3. The Federal Ministry of Finance, in a statement issued in Abuja on Saturday, said the decision reflects the impact of the Federal Government’s macroeconomic and fiscal reforms implemented over the past ...
The Comptroller-General of the Nigeria Immigration Service (NIS), Mrs. Kemi Nandap has revealed that the service is strengthening Nigeria's border management architecture through digital technology, biometric identity systems, intelligence sharing, and deeper collaboration with border communities. The Comptroller-General of the Nigeria Immigration Service (NIS), Mrs. Kemi Nandap, disclosed this on Monday in Lagos during the African ...
Zenith Bank Plc hosted the 10th edition of its International Trade Seminar on Non-Oil Export on Tuesday, 25 August 2026, marking a decade of sustained advocacy for the diversification of Nigeria’s economy. The virtual event brought together policymakers, regulators, exporters, manufacturers, investors and development partners from across Africa and beyond, all focused on one question: how Nigeria can earn more from what ...
Participants in Lagos engaged in a practical exploration of personal finance on Friday during Nigerian NewsDirect’s "My Money and I" event, shifting the spotlight from mere earning potential to disciplined wealth management. Rather than concentrating solely on income figures, the interactive forum addressed what happens once funds arrive guiding attendees through intentional spending habits, deliberate saving strategies, ...
By Firdaus Jibril The House Committee on Delegated Legislation of the National Assembly has called for amendments to the aviation law to allow immediate deduction and remittance of applicable statutory funds by airlines to the Nigeria Civil Aviation Authority (NCAA). The Chairman of the Committee, Rt. Hon. Olufemi Richard Bamishile, made the call on Wednesday ...
By Firdaus Jibril The Nigerian Economic Summit Group (NESG) has appointed Mr. Jim Swartz, Chairman and Managing Director of Chevron Nigeria/Mid-Africa, as a Director on its Board. The NESG stated that the appointment is part of its efforts to strengthen leadership with seasoned professionals whose expertise can advance its mission of promoting sustainable economic development, ...
The National Automotive Design and Development Council (NADDC) says nearly 40 vehicle assembly plants are currently operational across Nigeria. The Director-General of NADDC, Mr Joseph Osanipin said this at a One-Day Human-Centered Data & AI Master class for Commerce and Industry Correspondents Association of Nigeria (CICAN) on Thursday in Abuja. The theme of the event ...
By Firdaus Jibril Dangote Petroleum Refinery and Petrochemicals has secured a $400m underwriting programme ahead of its planned initial public offering (IPO), in what could become one of Africa’s largest public share sales. The programme, announced on Tuesday by the refinery’s financial advisers, Marob Strategies and Consulting DIFC Ltd and Lilium Capital Group, comprises a completed and funded $600 million private placement alongside ...
The National Information Technology Development Agency (NITDA) has signed strategic Memoranda of Understanding (MoUs) with Canadian tech companies Goose FL and Fireflies AI. The MoU signing took place during the Nigeria–Canada Investment Forum and the Nigeria Investment Economic Conference in Toronto, Canada, witnessed by NITDA’s Director-General, Kashifu Inuwa Abdullahi. The strategic partnership centers on three ...
Airtel Africa and Starlink today have launched satellite-to-mobile service in the Democratic Republic of the Congo (DRC), marking the first commercial deployment in Africa. The service enables Airtel customers with compatible smartphones to access connectivity in non-terrestrial areas wherever they can see the sky. Starlink, the world’s largest satellite-to-mobile constellation with 650 launched satellites, enables ...
The Nigeria Export Processing Zones Authority (NEPZA) says the 300 million dollars (N426 billion) Abuja Industrial Park will create about 40,000 jobs when fully operational. NEPZA Managing Director, Dr Olufemi Ogunyemi, disclosed this in a statement on Saturday following an inspection of the Free Trade Zone project in Abuja. Ogunyemi commended Zeberced, the management company, ...
By Precious Mark The Nigerian Presidency has revealed that it is embarking on reforms of the country’s procurement and audit processes. The Federal Government made this known in response to to the recent fiscal transparency report released by the United States Department of State. Reacting on Thursday, the Special Adviser to the President on Public ...
By Taiwo Scholarstica and Firdaus JibrilPresident Bola Ahmed Tinubu has approved a new investment framework aimed at attracting up to $50 billion in fresh investments into Nigeria’s deep offshore oil and gas sector. The reform is expected to provide a more predictable environment for investors and revive major offshore projects that have remained delayed for ...
Africa’s Global Bank, United Bank for Africa (UBA) Plc, has partnered with Mikano Motors to launch an auto financing scheme themed "Drive Your Dream Today," specifically designed to ease the purchase of new vehicles and make them more accessible to Nigerians. The flexible financing solution requires customers to make an initial equity payment of just 30 percent, while the bank finances the remaining 70 percent. Unveiled ...
Abuja Continental Hotel’s exemplary service strides took center stage yet again as the hotel was honored with the prestigious Continental Excellence Award for Luxury Hospitality Leadership. The honor, bestowed on the hotel at the Tourism Transport Summit Awards 2026, further cements its position as Nigeria’s foremost luxury destination. The Convenor of the Tourism Transport Summit ...
Before sunrise, tens of millions of Nigerians are already making financial decisions that will shape the rest of their day. A trader prepares for the business day, a ride-hailing driver calculates fuel expenses, and a young professional checks his account balance before leaving for work. Different lives, different ambitions, but one shared goal: building financial ...
The Government of Tanzania has reaffirmed its commitment to deepening economic cooperation with Dangote Group, expressing strong interest in attracting new investments in fertiliser production, energy and industrial infrastructure to support the country's long-term development agenda. Minister of State in the President's Office responsible for Planning and Investment, Hon. Prof. Kitila A. Mkumbo, disclosed this ...
The Federal Mortgage Bank of Nigeria (FMBN) on Friday launched its National Housing Fund (NHF) Diaspora Mortgage Loan in London, opening a secure and institutional pathway for Nigerians living abroad to own homes and invest in Nigeria’s housing sector. The Minister of Housing and Urban Development, Engr. Dr. Muttaqha Rabe Darma, was the guest of honor at the launch and was represented ...
MTN Nigeria invests N1.62 trillion in network infrastructure between 2025 and the first half of 2026, as its profit after tax rose 70.6 per cent to N707.5 billion. The Chief Financial Officer (CFO), MTN Nigeria, Mr Modupe Kadri, disclosed this during an interactive session with newsmen in Lagos in its H1 2026 Mid-Year Catch-Up Presentation. ...
Nigeria has reaffirmed its commitment to strengthening its partnership with the United Kingdom on tax administration and institutional reforms. The Executive Chairman of the Nigeria Revenue Service (NRS), Dr. Zacch Adedeji, stated this while receiving the outgoing British High Commissioner to Nigeria, Dr. Richard Montgomery. Adedeji commended Montgomery for his support for Nigeria’s tax reform ...
The Central Bank of Nigeria (CBN) says its monetary policies and reforms have started paying off, with inflation dropping to 15.91% in June from 15.93% in May, while both food and core inflation also moderated over the same period. Speaking at the CBN Fair in Bauchi on Thursday, the Acting Director of Corporate Communications and ...
The President and Chief Executive of Dangote Industries Limited, Aliko Dangote, has held discussions with Canada’s Prime Minister, Mark Carney, on opportunities to strengthen investment partnerships and deepen economic cooperation between Canada and Africa. The meeting focused on expanding investment opportunities in Canada and exploring how the Dangote Group, alongside other African investors, can contribute ...
Afri Invoice, an accredited e-invoicing service provider, says it will recruit more than 100 professionals nationwide to support businesses in complying with the mandatory e-invoicing programme of the Nigeria Revenue Service (NRS). The founder and Chief Executive Officer of the company Mr Mark Odenore, disclosed this in a statement on Wednesday in Lagos. Odenore said ...
