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The President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Dr Jami Ibrahim, has said Nigeria’s ambition of achieving a one trillion-dollar economy by 2030 is ambitious yet attainable, provided the country fully harnesses the potential of its youth through digital transformation. Dr Ibrahim made the statement at the weekend ...
The Nigerian Content Development and Monitoring Board (NCDMB) says it will fully champion the Federal Government’s newly introduced “Nigeria First” policy, a strategic directive aimed at deepening local production, boosting indigenous capacity and reducing reliance on imported goods and services in the oil and gas sector. This was contained in a statement signed by the ...
The Federal Competition and Consumer Protection Commission (FCCPC) has cautioned traders across Lagos to stop the deliberate inflation of prices and to guarantee that their goods meet safety and authenticity standards. Speaking at a Market Engagement Forum hosted by the commission in Lagos, the Executive Vice Chairman and Chief Executive Officer of the FCCPC, Mr ...
The Federal Government has restated its focus on institutional efficiency and staff wellbeing with the commissioning of Compressed Natural Gas (CNG) buses at the Federal Ministry of Finance in Abuja. This development was made known in a statement by Mr Mohammed Manga, Director of Information and Public Relations at the ministry. Speaking at the commissioning, ...
Chairman of the Presidential Committee on Tax Policy and Fiscal Reform, Mr Taiwo Oyedele, has stated that the economic reforms initiated under President Bola Tinubu’s administration rescued Nigeria from imminent financial collapse and laid the groundwork for long-term recovery. Speaking in Lagos on Wednesday at the inaugural Annual Workshop for Attorneys-General on emerging issues in ...
By Seun Ibiyemi The Federal Government of Nigeria has received Tanzania’s endorsement for its bid into Category C of the International Maritime Organization (IMO) Council. The Minister of Marine and Blue Economy, Mr Adegboyega Oyetola disclosed this in a statement by his Special Adviser on Media and Communications, Dr Bolaji Akinola, on Wednesday in Abuja. ...
Mr Felix Madumere, Rivers Controller, Nigeria Correctional Service (NCS) has reaffirmed commitment to inmates welfare, saying that the facility does not remand juveniles. Madumere made the remark in Port Harcourt on Wednesday in a media briefing while reacting to allegations that one Mr Sunday Baridi was remanded at the age of 14 before he was ...
Gov. Bala Mohammed of Bauchi State has wooed South-East investors with the abundant business and investment opportunities in the state. Mohammed spoke during the unveiling of Bauchi State Economic And Investment Summit ceremony of the South-East on Wednesday in Enugu. News Men report that the summit is expected to hold between Oct. 8 and Oct. ...
...Global growth projected at 3.0% By Seun Ibiyemi The International Monetary Fund (IMF) has maintained its forecast for a 3.4 per cent expansion in Nigeria’s real Gross Domestic Product (GDP) for 2025, despite recent changes to the country’s statistical methodology by the National Bureau of Statistics (NBS). The projection comes against the backdrop of global ...
By Matthew Denis The Executive Director and Chief Executive Officer of the Nigerian Export Promotion Council (NEPC), Nonye Ayeni, has announced that cashew nut exports surged to a value of US$398.135 million in the first half of 2025. Ayeni made the disclosure during the official launch of the Cashew Processors Directory, a landmark initiative aimed ...
Transnational Corporation Plc has posted a 59% rise in revenue for the first half of 2025, with unaudited results showing strong year-on-year growth for the period ended June 30, 2025. Group revenue climbed from ₦175.4 billion in H1 2024 to ₦279.7 billion, while profit before tax advanced by 21%, closing at ₦85.7 billion compared to ...
The Customs Consultative Committee (CCC) has warned that the reintroduction of the four per cent Free on Board (FOB) levy will significantly impact the cost of vehicles and goods in Nigeria. Secretary of the CCC, Eugene Nweke, speaking to journalists on Tuesday, explained that the levy would inevitably increase the expenses associated with clearing goods ...
The House of Representatives Ad hoc Committee on the Implementation of the Compressed Natural Gas (CNG) Policy has announced plans to commence its investigation into the rollout of the initiative on Thursday, July 31. In a statement on Tuesday, the committee’s chairman, Rep. Usman Jaha (APC-Borno), invited stakeholders and members of the public to submit ...
By Seun Ibiyemi The House of Representatives Ad-hoc Committee on the Rehabilitation and Operationalisation of the Baro Inland Port has summoned the Minister of Marine and Blue Economy, Adegboyega Oyetola, and the Managing Director of the National Inland Waterways Authority (NIWA), Bola Oyebamiji, to address alleged irregularities surrounding the multi-billion-naira port project. Committee Chairman, Hon. ...
By Matthew Denis The Corporate Affairs Commission (CAC) has announced the commencement of a new round of delisting about 100,000 companies that have failed to comply with the requirements of the Companies and Allied Matters Act (CAMA) 2020. The commission made the announcement in a public notice on Tuesday. CAC also disclosed that the names ...
By Seun Ibiyemi Nigeria’s foreign exchange reserves have surpassed $39 billion, reaching their highest point in almost three years, according to fresh data from the Central Bank of Nigeria (CBN). The build-up in reserves coincides with a stronger naira, which has continued to appreciate against the US dollar in both the official and parallel markets. ...
Transnational Corporation Plc has announced a N279.7bn revenue in its H1 unaudited results, showing impressive year-on-year growth, for the period ended June 30, 2025. The Group's revenue grew by 59% from N175.4 billion in 2024 to N279.7 billion, while profit before tax grew by 21%, to close at N85.7 billion compared to N70.9 billion recorded ...
By Seun Ibiyemi Nigeria stands at a crucial juncture in its economic evolution, undertaking a broad programme of reforms aimed at restoring fiscal credibility, correcting long-standing distortions in its foreign exchange regime, and attracting the level of private capital required to fuel sustainable, inclusive growth. The stakes could scarcely be higher, as the country attempts ...
Ibadan Electricity Distribution Company Plc (IBEDC) has notified customers in Ogun State of scheduled power outages from 28 July due to maintenance work by the Transmission Company of Nigeria (TCN). In a statement released on Monday, IBEDC explained that the maintenance would be carried out on the Omotosho–Ikeja West 330kV transmission line between 28 July ...
…Declares First Dividend in Over a Decade Unilever Nigeria Plc has reported a 225 percent jump in net income for the six months to June 2025, driven by rising revenue and a net finance income that more than doubled to N5.34 billion during the review period. Unaudited financial results show the consumer goods company posted ...
By Seun Ibiyemi Economist and Convener of The Big Tent, Prof. Pat Utomi, has called on the Federal Government to urgently reassess and potentially abolish the Band A electricity tariff, condemning it as “exploitative” and unfairly draining the resources of Nigerian citizens. Speaking at a news conference on the state of the nation in Lagos ...
Post N77.6BN profit... Declares ₦11.25B shareholders' interim dividend, demonstrating robust growth. Transcorp Power Plc (“Transcorp Power” or the “Company”), (NGX: TRANSPOWER), one of the power subsidiaries of Nigeria’s leading listed conglomerate, Transnational Corporation Plc (“Transcorp Group”), has announced its unaudited financial results for the half-year ended 30 June 2025. The Company’s revenue grew by 52% ...
