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...as airport prepares to commence international hajj operations Dr. Akutah Pius Okeyima, the Executive Secretary and CEO of the Nigeria Shippers’ Council has hailed the Gateway International Airport as a transformative piece of infrastructure capable of resolving long-standing bottlenecks in cargo movement across Nigeria and the West African sub-region. The Shippers' Council boss made this ...
President Bola Tinubu has ordered the immediate suspension of the recently introduced cashless toll gate system at Nigeria’s airports following widespread reports of chaos, traffic congestion, and stranded passengers. The directive comes just days after the policy took effect on March 1, 2026, as part of a move to digitize revenue collection at federal aviation facilities. The ...
Group Managing Director of United Bank for Africa (UBA), Oliver Alawuba, and the Authority Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr. Saidu Mohammed has jointly asserted that Nigeria’s path to energy security lies in transitioning from policy concepts to bankable, physical infrastructure. Speaking iin Calabar at the Energy Cross ...
The Niger Electricity Distribution Company (NEDC), a subsidiary of Abuja Electricity Distribution Plc (AEDC), has formally commended the Niger State Government for its aggressive deployment of solar mini-grids and renewable energy solutions across the state. The initiative, led by Governor Mohammed Umaru Bago, marks a transformative shift in the state’s energy landscape, targeting over 180 ...
....as Lekki Port outpaces Onne Port, Apapa Port in cargo volume Nigeria’s maritime sector has recorded a significant surge in cargo volumes and a strategic shift toward export-led trade according to the 2025 Operational Performance Report released by the Nigerian Ports Authority (NPA) on Tuesday. The report revealed that the total cargo throughput jumped by ...
In a strategic realignment of his economic team, President Bola Ahmed Tinubu has nominated Taiwo Oyedele as the Minister of State for Finance. This high-profile appointment marks the end of Oyedele’s tenure as the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, where he gained national prominence for leading a comprehensive overhaul ...
President of Dangote Group, Aliko Dangote, has unveiled plans to expand into steel production, electricity generation and port development as part of a broader ambition to accelerate industrialisation across Africa. Dangote, whose conglomerate spans cement, sugar, salt, fertiliser, and petrochemicals, said his long term goal is to deepen Africa’s manufacturing base beyond oil refining and ...
The Office of the Accountant-General of the Federation (OAGF) has commenced the payment of February 2026 salaries to Federal Government treasury-funded workers. Payments began on Monday, March 2, 2026 according to a statement issued on Monday by Bawa Mokwa, Director, Press and Public Relations OAGF. The Office explained that the delay in the payment of the ...
President of Dangote Group, Aliko Dangote, has unveiled plans to expand into steel production, electricity generation and port development as part of a broader ambition to accelerate industrialization across Africa. Dangote, whose conglomerate spans cement, sugar, salt, fertiliser, and petrochemicals, said his long term goal is to deepen Africa’s manufacturing base beyond oil refining and ...
Several Nigerian billionaires have channelled their wealth into structured philanthropic foundations that support education, healthcare, economic empowerment and social development across Nigeria and the wider African continent. Aliko Dangote, widely regarded as Africa’s richest individual, chairs the Aliko Dangote Foundation, one of the largest private foundations in sub-Saharan Africa. Founded in 1994 and formally endowed ...
The Organisation of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, reached a decision on Sunday to increase oil output by 206,000 barrels per day (bpd) effective this April. This announcement followed a virtual meeting where key member nations including Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and ...
Dangote Cement Plc has reported a 20.3 per cent revenue growth to N4.31 trillion for the year ended Dec. 31, 2025. This compares with N3.58 trillion recorded in 2024, according to a corporate disclosure filed on Nigerian Exchange Ltd. on Saturday. The company said its Nigerian operations contributed N2.96 trillion, up from N2.19 trillion in ...
Lagos State Governor, Dr Babajide Sanwo-Olu has pivoted the state’s economic diplomacy toward the Commonwealth, announcing a strategic alliance with the Commonwealth Enterprise and Investment Council to underpin the launch of InvestLagos 3.0. This partnership marks a shift in the state's approach to capital mobilization, moving beyond general investment promotion to a specialized, technical framework ...
President Bola Ahmed Tinubu has formally inaugurated the Board of the Nigerian Consumer Credit Corporation (CREDICORP) noting that the success of Nigeria's one-trillion-dollar economic ambition is linked directly to the democratization of credit. Represented by Vice President Kashim Shettima, the President noted that the administration's vision is to bridge the gap between hard work and human dignity, ...
The Federal Government of Nigeria has achieved a significant breakthrough in its mission to close the nation’s digital divide, securing a $100 million investment from the European Bank for Reconstruction and Development (EBRD). Dr. ’Bosun Tijani, the Minister of Communications, Innovation, and Digital Economy, confirmed the formal approval of the funds following the conclusion of ...
The Dangote Petroleum Refinery has formally entered into a major offtake agreement with the nation’s leading oil marketers to supply between 60 and 65 million litres of Premium Motor Spirit (PMS) daily. The agreement, announced on Tuesday marks the definitive end of Nigeria's decades-long dependence on imported fuel and positions the country as a net exporter of refined petroleum ...
By Denis MatthewIn a significant shift in Nigeria’s macroeconomic strategy, the Central Bank of Nigeria (CBN) has lowered its benchmark interest rate, the Monetary Policy Rate (MPR), by 50 basis points to 26.5 percent from 27 percent.The decision, announced by CBN Governor Olayemi Cardoso following the 304th Monetary Policy Committee (MPC) meeting on Tuesday, marks ...
Governor Babajide Sanwo-Olu of Lagos State has revealed that President Bola Tinubu is very excited and fully supportive of the establishment of the Lagos International Financial Centre (LIFC). The Governor shared this update during a welcome dinner for delegates at the Nigeria Foreign Direct Investment Training Programme, currently taking place at the University of Cambridge. ...
The Budget Office of the Federation has issued a firm defense of Executive Order 9 (EO9), describing it as a tool for constitutional fidelity rather than an attempt by the Presidency to bypass the National Assembly. In a press statement released on Monday, Tanimu Yakubu, Director-General of the Budget Office, addressed growing concerns that the order amounts to executive law-making. ...
In a significant boost for Nigeria’s international legal standing, the Federal Government has emerged victorious in a high-stakes $6.2 million arbitration battle against European Dynamics UK Limited. The dispute, which centered on a stalled national electronic Government Procurement (eGP) system, concluded with a final ruling that relieves Nigeria of a potential financial liability totaling approximately ...
The Securities and Exchange Commission (SEC) has revealed that the Nigerian Capital market contribution to the Gross Domestic Product (GDP) has surged from 13 percent to 33 percent in just 23 months. Addressing the inaugural meeting of the Capital Market Working Group on Market Liquidity in Abuja, Dr. Agama characterized this 125 percent growth as a ...
By Matthew Denis The Federal Roads Maintenance Agency (FERMA) has formally presented a proposed budget of ₦229.999 billion for the 2026 fiscal year, marking a strategic effort to overhaul the nation’s road network and bolster inter-state connectivity. This financial blueprint, defended before the Joint Senate and House Committees on FERMA, allocates ₦191 billion to capital ...
...reveals a single bank account is siphoning 5,615 monthly salaries ...as State Gov't accuses firm of inflating figures to claim higher commissions An audit firm, Salivot Consulting Limited has alleged that it has uncovered a massive N13.7bn payroll fraud involving over 8,000 ghost workers and pensioners. The firm’s CEO, Ms. Sadat Bakrin-Ottun, revealed this during an ...
