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...Innovative financing strategies will bridge N14trn budget deficit By Seun Ibiyemi The Federal Government, through the Minister of Budget and Economic Planning, Abubakar Atiku Bagudu, has described the 2025 budget as ‘bold, ambitious, and essential’ for sustaining economic expansion. Speaking in Lagos on Monday after the KPMG Budget 2025 Day, Bagudu stated that the economy ...
In a renewed effort to revitalise Nigeria’s maritime sector, the Federal Government has pledged to support industry growth through targeted financing and policy initiatives. The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, reaffirmed this commitment during a meeting with the Director-General and CEO of the Nigerian Maritime Administration and Safety ...
By Seun Ibiyemi The Federal Executive Council (FEC) has approved nearly $100 million (¦ 151.9 billion) to implement a large-scale electric vehicle (EV) transportation project in northeast Nigeria. This initiative aligns with the government’s strategy to reduce carbon emissions, modernise public transport, and promote energy efficiency. Under the scheme, Bluecrest Integrated Concept Limited will supply ...
By Seun Ibiyemi The National Bureau of Statistics (NBS) has reported that Nigeria generated ¦ 13.78 trillion from crude oil exports in the fourth quarter of 2024. This information was detailed in the bureau’s latest publication, “Foreign Trade Statistics Report 2024 Q4”, which provides insights into the country’s trade performance. The report indicates that Nigeria’s ...
The Securities and Exchange Commission (SEC) has issued a warning to the public against investing in the ‘Pro-Vest’ investment scheme and ‘My Share’, which operates under UYJ Multi Trade Ltd. In a notice released on Friday in Abuja, SEC stated that ‘Pro-Vest’ was being promoted by Promiseland Estates Ltd. and Promiseland Building & Construction Ltd., ...
By Seun Ibiyemi The Nigerian Maritime Administration and Safety Agency (NIMASA) has expressed concern that, despite the country’s substantial investment in maritime security, Nigeria-bound cargoes continue to attract War Risk Insurance premiums. Speaking on Thursday while receiving a delegation from the Danish Ministry of Foreign Affairs, the Director General of NIMASA, Dayo Mobereola, urged the ...
United Bank for Africa (UBA) Plc has revealed that over 3,200 young professionals have been produced through its Graduate Management Acceleration Programme (GMAP) since inception 3 years ago. Since inception, the GMAP, designed to equip entrants with the necessary skills and knowledge, has provided mentorship, training, and hands-on experience to young graduates for leadership roles ...
Wema Bank says it aims to further stimulate entrepreneurship, attract investment, and accelerate Nigeria’s economic development by fostering a thriving technology ecosystem that complements the creative economy. Executive Director, Retail and Digital Business, Wema Bank, Mr Tunde Mabawonku, disclosed this at the sidelines of a news conference on call for applications for the sixth edition ...
By Seun Ibiyemi The Federal Government of Nigeria, through the Speaker of the House of Representatives, Hon. Abbas Tajudeen, has highlighted the potential for trade relations between Nigeria and the Kingdom of Morocco to generate as much as $2.5 billion annually. Speaking through the House Leader, Prof. Julius Ihonvbere, during a meeting with stakeholders on ...
Lagos State Governor, Babajide Sanwo-Olu, has granted FirstBank Group the official certificate to begin the construction of its state-of-the-art, eco-friendly headquarters in the prestigious Eko Atlantic City. The announcement came during the groundbreaking ceremony held on Wednesday. The towering 40-storey structure, set to become Nigeria’s tallest building, will incorporate cutting-edge technological features and eco-friendly designs, ...
Airtel Africa PLC through its subsidiary Airtel Mobile Commerce BV has partnered Mastercard to unveil the Airtel Money GlobalPay Card, a new payment solution designed to connect Airtel Money customers across Africa with global online marketplaces. This collaboration with Mastercard will empower Airtel’s 150 million mobile phone users in 14 African countries with access to ...
By Seun Ibiyemi The Federal Competition and Consumer Protection Commission (FCCPC) has taken legal action against MultiChoice Nigeria Ltd. and its Chief Executive Officer, Mr John Ugbe, for allegedly violating regulatory directives. In a statement issued on Wednesday in Abuja, the FCCPC’s Director of Corporate Affairs, Mr Ondaje Ijagwu, disclosed that the company was also ...
By Seun Ibiyemi The United Bank for Africa (UBA) marked the graduation of 1,138 young professionals from its Graduate Management Accelerated Programme (GMAP) during a ceremony held in Victoria Island, Lagos on Wednesday. The graduating class, drawn from Nigeria, Tanzania, Ghana, Cameroon, Zambia, and Kenya, completed a six-month intensive training programme designed to equip them ...
The House of Representatives on Tuesday directed Multichoice Nigeria to suspend its proposed increase in DStv and GOtv subscription rates across the country, pending the outcome of a thorough investigation. The House also mandated its Committee on Information to investigate the recurring increases in subscription fees by Multichoice, with the aim of ensuring the implementation ...
By Seun Ibiyemi The House of Representatives Committee on Public Accounts has issued a two-week ultimatum to three major oil companies—Chorus Energy, Dubril Oil Company Limited, and Belema Oil—to settle their outstanding debt of $5,543,491.45 owed to Nigeria’s Federation Account. The directive was issued during an ongoing investigation by the committee, following a report from ...
The Minister of Foreign Affairs, Amb. Yusuf Tuggar, has reiterated Nigeria’s commitment to deepening diplomatic relations with the United Kingdom (UK). Tuggar made this known in a statement on Tuesday in Abuja, on the sideline of his three-day high-level visit to the UK from March 3 to 5, for strategic cooperation across multiple sectors. In ...
…Features webinar series, trivia challenges, live business series event …Women to Enjoy Discount Offerings on Cards, Loans …UBA Foundation to distribute care kits to secondary school pupils across Nigeria Africa’s Global Bank, United Bank for Africa (UBA) Plc, is set to commemorate this year’s International Women’s Day (IWD) with a series of impactful initiatives aimed ...
By Seun Ibiyemi The Nigeria Customs Service (NCS) and the Central Bank of Nigeria (CBN) have reaffirmed their commitment to improving trade facilitation and boosting revenue generation through automated foreign exchange (FX) transactions. The Comptroller-General of Customs (CGC), Mr Adewale Adeniyi, underscored the importance of seamless integration between Customs and commercial banks to modernise trade-related ...
Chairman of United Bank for Africa (UBA) Group and Founder of the Tony Elumelu Foundation (TEF), Tony Elumelu, has reiterated his dedication to supporting Gabon’s economic development following a high-level meeting with the country’s President, Brice Oligui Nguema. During an official visit to the Presidential Palace in Libreville, Gabon, Elumelu engaged in discussions with President ...
…As Airtel plans $500m investment By Seun Ibiyemi In a bid to strengthen Nigeria’s telecommunications sector and attract foreign investment, President Bola Tinubu has announced plans to overhaul the regulatory framework, aligning it with global best practices. The proposed reforms will focus on protecting critical telecom infrastructure, fostering a business-friendly environment, and stimulating economic growth. ...
By Sodiq Adelakun Lagos State Deputy Governor, Dr Kadri Obafemi Hamzat, has emphasised the crucial role of accurate data collection, collation, and dissemination in driving the development of both Lagos State and Nigeria. Speaking at the inauguration of the Human Capital Development (HCD) 2.0 Lagos State Core Working Group, held at his office in Alausa, ...
The Chairman of United Bank for Africa (UBA) Plc and Heirs Holdings Group, Tony Elumelu, has called for a strategic and collaborative approach to drive sustainable economic growth across Africa. Speaking at the inaugural Cameroon Economic Meeting in Yaoundé, Elumelu stressed the need for governments, private sector leaders, and development partners to work together to ...
By Seun Ibiyemi The Lagos Chamber of Commerce and Industry (LCCI) has proposed a phased port tariff increase of five percent annually over three years to ease the financial strain on businesses and minimise inflationary pressures on Nigerians. This recommendation follows the Nigerian Ports Authority’s (NPA) recent announcement of a 15 percent tariff hike, marking ...
