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The Federation Account Allocation Committee (FAAC) has distributed a total of ₦1.97 trillion among the three tiers of government for December 2025, marking a significant revenue milestone at the start of the 2026 fiscal year. This allocation, finalized during the January meeting in Abuja, was heavily bolstered by a dramatic spike in Value Added Tax ...
By Sodiq Adelakun In a major stride towards food security, Nigeria has launched a locally developed smart storage system aimed at curbing the estimated ₦14.4 trillion lost annually to post-harvest wastage. The innovation, dubbed HarvestHarbor, was unveiled in Ogun State by its developer, Prof. Olubunmi Akinola of the Federal University of Agriculture, Abeokuta (FUNAAB). Designed ...
…targets 50m by year end By Sodiq Adelakun The Federal Government announced on Thursday that it has successfully disbursed conditional cash transfers to over 34 million vulnerable Nigerians, marking a significant step in its efforts to mitigate economic hardship across the country. The Minister of Humanitarian Affairs and Poverty Reduction, Dr. Bernard Doro, disclosed the ...
....as Experts urge stricter oversight, consumer protection By Sodiq Adelakun and Mathew Denis As Nigeria’s digital lenders quietly build customer bases that now run into the millions, financial experts said the Central Bank of Nigeria’s decision to upgrade FinTech licences is a long-overdue response to a sector that has outgrown its original regulatory boundaries. They described the Central ...
The Manufacturers Association of Nigeria (MAN) has strongly condemned the National Agency for Food and Drug Administration and Control (NAFDAC) for its renewed crackdown on the production and sale of alcoholic beverages packaged in sachets and small PET bottles, warning that the agency’s actions threaten the survival of indigenous manufacturers and blatantly defy federal directives. ...
The Central Bank of Nigeria (CBN) on Tuesday took the financial markets by surprise by rejecting all subscriptions tendered at its latest Open Market Operations (OMO) auction, despite receiving a massive N4.9 trillion in bids from eligible market participants. The apex bank had initially floated N600 billion worth of OMO bills across two tenors, aiming ...
By Sodiq Adelakun Nigeria and the United Arab Emirates (UAE) have entered into a landmark Comprehensive Economic Partnership Agreement (CEPA), a deal designed to eliminate tariffs on thousands of products and dramatically expand market access for businesses in both nations. The details of the agreement were disclosed in Abuja on Tuesday by Rep. Sam Onuigbo, ...
In a significant move to strengthen Nigeria’s economic framework, the Minister of State for Finance, Dr. Doris Uzoka-Anite, and the Chairman of the Nigeria Revenue Service (NRS), Dr. Zacch Adedeji, held a high-level strategic meeting with the Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso. The working visit to the CBN headquarters ...
The Niger State Government has sealed a landmark partnership with the Islamic Development Bank (IsDB) to construct a 100-megawatt solar power plant, a project valued at $163 million. The agreement was solidified during a visit by the IsDB preparation mission team to the Government House in Minna. Code-named NGA1063, the Niger State Solar Electrification Project ...
For brands, building a sense of community and connection with consumers takes focused effort. It must be earned over time. Terra’s approach in 2025 reflects this understanding, as the brand moved beyond conventional marketing to building genuine connections with consumers. More than just competing for shelf space or market share, Terra has made a deliberate ...
Royal Exchange Plc has appointed Mr Ikeme Osakwe as its new Chairman in a move aimed at strengthening leadership and accelerating the company’s ongoing repositioning strategy. The company announced the appointment in separate notifications to the Nigerian Exchange Ltd. (NGX) and the Securities and Exchange Commission (SEC) on Saturday. Osakwe’s appointment follows the retirement of ...
REA, Lotus Bank partner to launch dedicated renewable energy financing facility The Rural Electrification Agency (REA) and Lotus Bank have reached a strategic milestone in their collaboration to deepen financing for energy access across Nigeria. Following a high-level meeting on Wednesday, the two institutions announced plans to transition from project-based support to a large-scale, dedicated ...
By Seun Ibiyemi The Federal Government, through the Minister of Marine and Blue Economy, Adegboyega Oyetola, has formally opened applications for the Cabotage Vessel Financing Fund (CVFF). Created 23 years ago to provide structured financing for indigenous shipowners, the scheme is finally being operationalized after decades of delays. During the launch, the Director-General of the ...
The Economic and Financial Crimes Commission (EFCC) has leveled serious allegations against the Nigerian banking sector, accusing one new generation bank and six Fintechs of actively aiding fraudsters in schemes that have fleeced Nigerians of over N18.7 billion. The anti-graft agency raised the alarm on Thursday in Abuja, citing a disturbing level of compromise and ...
By Ismail Azeez, Osogbo The Managing Director of Omoluabi Holdings Limited, Taofiq Alimi, has said the company has recovered over N10billion in assets over the past two and a half years. Alimi reveal this on Thursday, in Osogbo explained that his first priority was to restore operations and reclaim all misappropriated assets. According to him, ...
Governor Alex Otti of Abia State has endorsed the “One Insurance Industry” initiative of the Nigerian Council of Registered Insurance Brokers (NCRIB). Otti also pledged the state government’s support to drive insurance awareness and deepen industry growth. The Governor gave the assurance when the President of the NCRIB, Mrs Ekeoma Ezeibe, led a delegation of ...
The meeting held between the contractors with the Finance of State for Minister, Dr. Doris Nkiruka Uzoka-Anite on Monday has hit a rock due to the government's failure to settle over ₦4 trillion in unpaid debts for completed projects. Recall that the All Indigenous Contractors Association of Nigeria (AICAN) organized a protest picketing the Federal ...
By Matthew Denis The Federal Government is facing an imminent shutdown of critical economic sectors as the All Indigenous Contractors Association of Nigeria (AICAN) has declared a total war on debt, laying siege to the Federal Ministry of Finance headquarters in Abuja. The contractors are demanding the immediate settlement of an alleged ₦4 trillion backlog ...
…as Economist predicts single-digit rate By Seun Ibiyemi Economic experts are expressing conflicting concerns following the release of Nigeria's latest inflation figures. While headline inflation dropped to 15.15 percent in December 2025, marking a significant year-long trend of disinflation, analysts warn that rising core inflation and controversial statistical methodologies threaten to undermine investor confidence. Dr. ...
Repton Group, a Nigeria-based conglomerate has emerged as the winner of the 2025 Dangote Cement Award of the Largest Distributor in Nigeria and Sub-Saharan Africa. This marks the third consecutive achievement of the rare feat, having earlier clinched the 2023 and 2024 editions of the annual award. Repton Group, with subsidiaries such as Kazab Heritage ...
More than 100,000 vulnerable individuals across Africa have received a vital lifeline following a wide-reaching humanitarian intervention by the UBA Foundation, the Corporate Social Responsibility arm of United Bank for Africa (UBA) Plc. Between November 2025 and January 2026, the Foundation mobilized resources worth millions of naira and dollars to distribute essential food items, school ...
The Federal Ministry of Marine and Blue Economy has signed a landmark Memorandum of Understanding (MoU) with the Abu Dhabi Ports Group to bolster collaboration in port development, maritime logistics, and digital solutions. This strategic agreement marks a pivotal moment in strengthening economic ties between Nigeria and the United Arab Emirates (UAE). The pact was sealed on the sidelines ...
The Budget Office of the Federation has stated that the North East Development Commission (NEDC) is operational and mot solely existing to pay salaries. In a statement issued in Abuja on Thursday, the Director General of the Budget Office, Tanimu Yakubu debunked recent allegations suggesting that the North East Development Commission (NEDC) operates on a ...
