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...Handles 20% of projected cargo By Seun Ibiyemi Lekki Deep Seaport, Nigeria’s first deep-sea port, has commenced full-scale transhipment operations to key ports in neighbouring West African countries, including Ghana, Togo, and Abidjan in Côte d’Ivoire, marking a major milestone in Nigeria’s maritime development. Speaking during a media parley on Thursday, the port’s Deputy Chief ...
…As NSC Cooperative records N156.4m Net Surplus, announces higher dividends amid economic uncertainty By Seun Ibiyemi The Executive Secretary and Chief Executive Officer of the Nigerian Shippers’ Council (NSC), Akutah Pius Ukeyima, MON, Esq, has called on members of the Council’s cooperative society to embrace long-term, high-yield investments as a strategy for building sustainable wealth ...
By Seun Ibiyemi The Sea Empowerment and Research Centre (SEREC) has appealed to the Federal Government to collaborate with international insurance providers to reassess Nigeria’s maritime risk profile and renegotiate the war risk insurance premiums imposed on vessels bound for Nigerian ports. This appeal was contained in a communiqué released on Wednesday in Abuja by ...
The Tinubu Media Support Group (TMSG) has dismissed the International Monetary Fund’s (IMF) recently revised economic growth forecast for Nigeria, describing it as an underestimation of the country’s economic strength and potential. In a statement released on Wednesday in Abuja and jointly signed by its Chairman, Emeka Nwankpa, and Secretary, Dapo Okubanjo, the group argued ...
The Corporate Affairs Commission (CAC) and the Nigeria Social Insurance Trust Fund (NSITF) have formalised plans to collaborate on enhancing the nationwide implementation of the Employee Compensation Scheme (ECS). This development emerged on Tuesday in Abuja during a courtesy visit by the Managing Director and Chief Executive of NSITF, Mr Oluwaseun Mayomi Faleye, to the ...
The Senate has directed its relevant Committees to undertake a thorough investigation and convene a public hearing into the operations of Ponzi schemes in Nigeria, following the collapse of the Crypto Bullion Exchange (CBEX), which reportedly defrauded investors of over N1.3 trillion. The investigation will be conducted by the Committees on Capital Market; Banking, Insurance ...
...Bans transit visa applications...As FG expresses concern over U.S. new visa regime for Nigeria By Seun Ibiyemi The United Arab Emirates (UAE) has introduced stringent new visa restrictions for Nigerian travellers, further complicating access to one of the Middle East’s most popular destinations for tourism and business. Multiple travel agents confirmed on Tuesday that, under ...
The Central Bank of Nigeria (CBN) has issued fresh directives aimed at enhancing consistency, transparency, and responsible credit management in the country’s banking sector. In a circular titled “Additional Guide to the Provision of Information on Credit Printouts” dated 13 June 2025, and signed by Olubukola A. Akinwunmi, Director of Banking Supervision, the CBN set ...
By Seun Ibiyemi The Nigerian Presidency has criticised the International Monetary Fund (IMF) over what it described as excessive and at times overstated commentary on Nigeria’s economic trajectory, particularly in relation to recent reforms, inflation trends, and poverty rates. Speaking during an appearance on Channels Television’s Morning Brief on Tuesday, Special Adviser to President Bola ...
By Seun Ibiyemi The Independent Media and Policy Initiative (IMPI) has expressed strong confidence that the newly signed Nigeria Tax Act (NTA) 2025 will play a pivotal role in attracting foreign direct investment and generating employment across multiple sectors of the economy. In a statement issued on Tuesday, IMPI Chairman Dr Omoniyi Akinsiju described the ...
Dangote Industries Limited has announced plans for its 650,000-barrel-per-day refinery, the largest in Africa, to source its entire crude oil supply from within Nigeria by the close of 2025. This shift is poised to reshape the nation’s energy landscape and significantly reduce dependence on foreign crude. The development was confirmed by Devakumar Edwin, Vice President ...
By Seun Ibiyemi The House of Representatives Committee overseeing the Nigeria Maritime Safety, Education and Administration (NIMASA) has approved the agency’s proposed revenue target of ₦774.77 billion for the 2025 fiscal year, despite raising concerns over its achievability. At the budget defence session held on Monday, the committee’s chairperson, Hon. Khadijat Abba-Ibrahim, queried the agency’s ...
By Seun Ibiyemi Nigeria’s telecommunications sector is under growing pressure from skyrocketing diesel prices, with each major operator reportedly spending between ₦5 billion and ₦10 billion monthly to fuel thousands of base stations across the country. Speaking with Nigerian NewsDirect, Former President of the Association of Telecommunications Companies of Nigeria (ATCON), Mr Tony Izuagbe Emoekpere, ...
President Bola Tinubu has reiterated his administration’s commitment to curbing inflation and ensuring economic stability through disciplined public spending, enhanced transparency, and active citizen participation. Speaking at the opening of the National Conference on Fiscal Governance, Transparency and Accountability, organised by the National Assembly Public Accounts Committee (PAC) in Abuja on Monday, Tinubu, represented by ...
The Nigerian Content Development and Monitoring Board (NCDMB) has unveiled the Nigerian Content Fund Clearance Certificate (NCFCC), now a mandatory compliance requirement for all contractors and operators in Nigeria’s oil and gas sector. The certificate was launched during a Stakeholders’ Sensitisation Workshop in Lagos, alongside an upgraded Nigerian Content Development Fund (NCDF) payment portal and ...
The Nigerian Communications Commission (NCC) is ramping up efforts to promote renewable energy use, particularly solar power, across the nation’s telecoms industry, with the goal of cutting diesel dependency and slashing operational costs. Telecom operators in Nigeria reportedly consume no less than 40 million litres of diesel each month to power network infrastructure, amounting to ...
By Seun Ibiyemi The Federal Government is in advanced discussions with private investors to raise nearly $60 million for the electrification of Onne Port in Rivers State, setting the stage for Nigeria’s first green port. Vice President Kashim Shettima disclosed this at the “Decarbonising Infrastructure in Nigeria Summit” held at the Presidential Villa in ...
Gov. Sheriff Oborevwori of Delta has lauded the Asaba Chamber of Commerce, Industry, Mines and Agriculture (ASACCIMA), for the establishment of an International Arbitration Commission Centre in Asaba.Oborevwori made the commendation while inaugurating the Centre in Asaba on Friday.Represented by the State Commissioner for Trade and Investment, Mr Samuel Oligida, the governor noted that the ...
The Corporate Affairs Commission (CAC) has introduced a new artificial intelligence-powered registration portal, marking a significant advancement in Nigeria’s digital public administration. Unveiled during the 2025 Stakeholders Forum in Port Harcourt, the new portal represents a complete overhaul of the Commission’s Company Registration Portal (CRP), designed to streamline services and simplify business onboarding processes. Speaking ...
..Says bank debtors damaged Nigerian economy …Foreign asset tracers to locate obligors hidden assets …Arik Air returning to profitability By Seun Ibiyemi The Asset Management Corporation of Nigeria (AMCON) has confirmed the sale of the Ibadan Electricity Distribution Company (IBEDC) for ₦100 billion, nearly twice the amount initially proposed during the transaction’s early stages. This ...
By Matthew Denis Chevron Nigeria’s Chairman and Managing Director, Jim Swartz, has called for a realistic, balanced approach to the future of energy in Nigeria, stressing the importance of affordability, security, and cleaner solutions in meeting rising demand. Swartz shared this view during a panel session on “Pragmatically Achieving Energy Abundance” at the 2025 Nigeria ...
Embroidery expert, Chinese firms partner to boost Nigeria’s fashion sector A leading embroidery expert and Chief Executive Officer of Embroidery Chief, Mr Lukman Abdulsalam, has unveiled a national initiative to transform Nigeria’s fashion industry through skills training and access to modern embroidery technology. The initiative, unveiled in collaboration with two Chinese firms, Beijing Dahao and ...
The Ekiti State Government, is stepping up efforts to support small businesses and grow the local economy through targeted financial interventions. The Commissioner for Finance and Economic Development, Mr Akintunde Oyebode, who made the assertion revealed that the government is finalizing plans to launch a ₦1 billion Cooperative Fund aimed at providing affordable financing to ...
