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By Seun Ibiyemi The Board of Directors of the African Development Bank (AfDB) Group has approved a $500 million loan facility for Nigeria to finance the second phase of the Federal Government’s Economic Governance and Energy Transition Support Programme. The approval was announced by the Director-General of the AfDB’s Nigeria Country Department, Abdul Kamara, in ...
The Federal government has launched a new technology-driven revenue system, the Revenue Optimisation and Assurance Project - REVOP, an initiative designed to redefine how the nation tracks, collects, and manages its public finances. It was launched alongside the Federal Treasury Receipt (FTR), a groundbreaking reform that provides a single, standardised, and digitally verifiable proof of all payments ...
...as operations set to begin Q1 2026 The Federal Government has officially granted approval for the Victor Attah International Airport in Akwa Ibom State to commence full international flight operations. This development was confirmed on Thursday following a high-level meeting between Governor Umo Eno and the Minister of Aviation and Aerospace Development, Festus Keyamo. The ...
...Foreign-exchange reserves rise 9.19% to $46.7bn ...Nigeria records N2.06trn VAT in Q2 2025 — NBS By Seun Ibiyemi The Central Bank of Nigeria has left the Monetary Policy Rate unchanged at 27 per cent, explaining that earlier tightening measures are beginning to show results and that maintaining stability is essential for the next phase of ...
Annual Bankers’ Dinner organised by The Chartered Institute of Bankers of Nigeria (CIBN). The high-profile event, scheduled for 28 November 2025, remains one of the most prestigious gatherings in Nigeria’s financial sector and will take place in Lagos this weekend. Recognised as a major agenda-setting platform, the Annual Bankers’ Dinner offers the CBN Governor the ...
The Federal Inland Revenue Service (FIRS) has accused former Vice President, Atiku Abubakar of politicizing a purely administrative process. The FIRS response comes amidst allegations by former Vice President Atiku Abubakar suggesting that a private firm, Xpress Payments, had been granted exclusive rights in Nigeria’s national revenue-collection system. In a statement issued by Aderonke Atoyebi, Technical Assistant ...
The Accountant General of the Federation (AGF), Dr Shamseldeen Babatunde Ogunjimi has unveiled sweeping reforms aimed at deepening transparency in the management of World Bank-funded projects across Nigeria. The measures were outlined on Tuesday during a workshop for Accountant-General officials, Heads of Project Financial Management Units, and Coordinators of World Bank-assisted programmes held at the Treasury House ...
History was made in Lagos on Tuesday, as 13-year-old Ebunoluwa Seth Oluwatimilehin, of Igando Community Senior High School, Igando, a suburb of Lagos, emerged as the overall winner of 15th UBA Foundation National Essay Competition (NEC), thus becoming the youngest winner in the fifteen years of the competition. Master Ebunoluwa, a public school student of ...
Prominent business leader and philanthropist Tony Elumelu has charged Nigerian entrepreneurs to scale for purpose and build lasting institutions. Elumelu made this known when he spoke at the GROW Nigeria Conference in Lagos recently. Speaking on the theme, "Empowering Nigeria's Entrepreneurs: Building Institutions That Last," Elumelu challenged the nation's business owners to shift their focus ...
By Seun Ibiyemi The Nigerian Maritime Administration and Safety Agency (NIMASA) has described the newly launched Maritime Labour E-Platform as a major step toward enhancing efficiency, transparency, and global competitiveness in the country’s maritime labour system. This was stated in statement made available to NewsDirect by Deputy Director/Head, Public Relations, NIMASA, Osagie Edward. At a sensitization workshop ...
By Sofiyyah Layole Nigeria’s palm oil market remains one of the most competitive segments of the country’s agribusiness landscape. We examine two industry leaders, Presco Plc and Okomu Oil Palm Plc, contrasting their distinct paths to growth based on their Q3 2025 results, which reaffirm their respective profitability. Scale vs. Efficiency: The topline contrast The ...
By Seun Ibiyemi The Independent Media and Policy Initiative (IMPI) has revealed that the administration of President Bola Tinubu acquired military assets worth $801 million from the United States within 18 months as part of its defense modernization agenda. In a policy statement signed by its Chairman, Dr. Omoniyi Akinsiju, IMPI said the naira equivalent ...
...says Tinubu's reforms has ended unpredictability of economy By Matthew Denis, Abuja The Vice President, Senator Kashim Shettima, has disclosed that Nigeria must abandon 20th century solutions for a sustainable digital future. The Vice President, who stated this on Tuesday in Abuja when he declared open the Digital Nigeria International Conference and Exhibition 2025, noted that ...
…partners stakeholders on FARMFATECH Expo By Matthew Denis The President of the Abuja Chamber of Commerce and Industry (ACCI), Chief Emeka Obegolu, has said that Nigeria must embrace mechanised farming and digital agriculture with an effective value chain mechanism to eliminate food shortages and malnutrition in the society. He made this known during his opening ...
United Bank for Africa (UBA) Group Chairman and Founder, Tony Elumelu Foundation, Tony O. Elumelu CFR, a leading advocate for Afri capitalism and transformative private sector leadership, will undertake a high impact working tour across East, Central, and Southern Africa this week. The multi-country visit underscores UBA's unwavering commitment to fostering economic resilience, empowering entrepreneurs, and ...
The Nigeria Deposit Insurance Corporation (NDIC) and the Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) have deepened collaboration to strengthen the implementation of insolvency laws and promote effective business rescue practices aimed at enhancing financial stability in Nigeria. Managing Director of NDIC, Mr. Thompson Sunday, disclosed this when he received a delegation from ...
Content creators and digital entrepreneurs have been advised to shift away from mere aesthetics and trends toward value, purpose, and consistent growth. In his keynote address at the recently concluded UBA Business Series, the Managing Director/CEO at Nitro 121, Dr. Lampe Omoyele said that “You can create something out of what appears to be nothing,” ...
Lagos will be taking a deep plunge into its aquatic endowment, making plans to explore its ocean’s troves. The State said its new focus was to harness the many potentials inherent in the Blue Economy. Speaking at the ongoing 2025 Lagos International Climate Change Summit holding at Lagos Intercontinental Hotel in Victoria Island, Governor Babajide Sanwo-Olu declared ...
The Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, has hailed the Lagos–Calabar Coastal Highway as a project that will unlock new economic frontiers for the Southwest region. Speaking at the Southwest Citizen-Government Engagement Summit held in Akure, Ondo State recently, Oyetola described the project as a transformative infrastructure initiative that will redefine connectivity ...
By Matthew Denis The Governor of Kaduna State, Mal. Uba Sani, has commended the Chartered Institute of Transport Administration of Nigeria (CIOTA) for its role in regulating and setting professional standards, including training and development programs, to enhance the skills and knowledge of transport professionals, paving the way for increased investment in the transport sector. ...
The Ministry of Petroleum Resources, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and the Nigerian National Petroleum Company Limited (NNPC) have jointly opposed a bill seeking to establish the National Commission for the Decommissioning of Oil and Gas Installations (NC-DOGI), 2024. The united opposition was delivered at a public hearing organized by the House of ...
..calls for stronger federal–state partnership to boost digital transformation …Says over 130m Nigerians now online as ICT contributes 17% to GDP …NGF pledges collaboration to expand digital inclusion nationwide The Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa CCIE, has urged state governors to strengthen collaboration with the federal government in ...
The Nigerian National Petroleum Company Limited (NNPC Ltd) has renewed its commitment to developing and revamping downstream infrastructure across the country, emphasising the need for enhanced collaboration and efficiency within the sector. This was contained in a statement signed by Mr Andy Odeh, Chief Corporate Communications Officer, NNPC Ltd, and made available to newsmen on ...
