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The rebasing of Nigeria’s Gross Domestic Product (GDP) and Consumer Price Index (CPI) will ensure that economic indicators accurately reflect the country’s current realities. This assurance was given by the Statistician General of the Federation and Head of the National Bureau of Statistics (NBS), Semiu Adeniran, during a special session with the Civil Society Organisation ...
By Seun Ibiyemi The presidency has defended the 50 percent hike in tariff approved for telecommunications operators by the Nigerian Communications Commission (NCC). It argued that the tariff hike was necessary to address the critical challenges in the sector. The presidency, however, noted that the approval does not mean that the telecom operators must immediately ...
...As AfDB calls for urgent action on electrification By Seun Ibiyemi The Federal Government, represented by Nigeria’s Minister for Finance and Coordinator of the Economy, Mr Wale Edun, has underscored the vital role of energy access in driving economic growth and sustainable development. This message comes as the President and Chairman of the Board of ...
Zenith Bank Plc has raised a total of N350.4 billion through its recently concluded hybrid Rights Issue and Public Offer. In a statement released to the Nigerian Exchange (NGX) Group on Sunday, January 26, 2025, the Bank announced that it has secured the full regulatory approval of the Central Bank of Nigeria (CBN) and the ...
Providus Bank, in collaboration with the Enterprise Development Centre (EDC), has unveiled the fifth cohort of its “ProvidusBank SME Programme,” marking a significant milestone in the bank’s ongoing commitment to supporting entrepreneurs across Nigeria. This initiative coincides with the bank’s fifth anniversary of fostering small and medium-sized enterprises (SMEs) in the region. Head of SME ...
The President of the Institute of Chartered Accountants of Nigeria (ICAN), Chief Davidson Chizuoke S. Alaribe, has commended the Nigeria Deposit Insurance Corporation (NDIC) for its continuous compliance to the highest standards of integrity and transparency which is critical to the success of its operations in safeguarding depositors’ funds and ensuring the stability of the ...
The President, Abuja Chamber of Commerce and Industry (ACCI), Chief Emeka Obegolu, says effective collaboration with National Space Research and Development Agency (NASRDA) will strengthen Africa’s space economy initiative. Obegolu said this on Friday in Abuja, while on a courtesy visit to the newly appointed Director-General of NASRDA, Dr Mathew Adepoju. He said that the ...
Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has endorsed the recently announced 50 percent hike in telecommunications tariffs, urging telecom companies to enhance their service quality in line with the price increase. The tariff adjustment, the first in over a decade, was announced by the Nigerian Communications Commission (NCC) on ...
Africa’s Global Bank, United Bank for Africa (UBA) Plc, is set to host a Knowledge Series webinar focused on informing and educating small and medium business owners about the 2024 withholding tax regulations recently introduced by the federal government. The webinar, titled ‘2024 Withholding Tax Regulations, Specific Emphasis on How They Affect SMEs’, is scheduled ...
...As ATCON, Airtel hail approval By Seun Ibiyemi Following the approval of a 50% arrival hike by the Nigerian Communications Commission (NCC), the Federal Competition and Consumer Protection Commission (FCCPC) has tasked telecom operators to improve on service delivery and infrastructural development. The FCCPC in a statement on Wednesday hailed the Nigerian Communications Commission (NCC) ...
By Seun Ibiyemi The Managing Director, Wema Bank, Mr Moruf Oseni, on Wednesday disclosed the bank’s plan to raise N200 billion in fresh capital to complete its capital raise exercise. Oseni, who made this known in a statement in Lagos, said that the fresh capital would be raised through a combination of a rights issue ...
The former French Minister of Transport, Mr. Djebbari Jean-Baptiste, has hinted at the desire of investors from his country to invest in the transport sector of Ogun State, especially the agro-cargo airport. Other areas of interest for the investors, according to Mr. Jean-Baptiste, are the Dry Port, the Olokola Sea Port, and the railway system. ...
By Blessing Emmanuel The ongoing reforms under the leadership of Dr. Olayemi Cardoso at the Central Bank of Nigeria (CBN) are transforming the country's economic landscape, with positive indicators suggesting a promising outlook for 2025. Speaking during a webinar hosted by Nigerian NewsDirect Newspaper, Managing Director and CEO of the Center for Promotion of Private ...
Gov. Monday Okpebholo of Edo has approved the recruitment of 500 teachers by the State Basic Education Board (SUBEB) to boost learning. The Commissioner for Education, Dr Emmanuel Iyamu, announced this on Wednesday in Beninon assumption of office. Iyamu was sworn in on Monday by Okpebholo following his confirmation as commissioner by the state’s House ...
By Seun Ibiyemi The Executive Secretary of the Pension Transitional Arrangement Directorate (PTAD), Tolulope Odunaiya, has announced a policy review of the “I Am Alive” confirmation solution, introducing a mobile version to accommodate pensioners unable to validate their life status through facial recognition or fingerprint scanning due to disabilities or health challenges. Odunaiya outlined the ...
By Seun Ibiyemi The Socio-Economic Rights and Accountability Project (SERAP) has issued a 48-hour ultimatum to the Federal Government and telecommunications companies (telcos) to reverse the recent 50% hike in the cost of calls and data. SERAP made this demand via a tweet on Tuesday, describing the tariff increase as “unlawful” and promising to take ...
Nigeria’s bid to host the establishment of the UNESCO Category II Media and Information Literacy Institute has received a huge boost with the endorsement of seven countries, the Minister of Information and National Orientation, Mohammed Idris has disclosed. This is as the Minister also revealed that Nigeria has received commitments from twenty other countries. Speaking ...
By Seun Ibiyemi President Bola Ahmed Tinubu has granted approval for the establishment and development of Inland Dry Ports (IDP) in Ijebu-Ode, Ogun State, and Moniya, Oyo State, as part of efforts to alleviate congestion at seaports in Lagos, reduce persistent delays, and bolster Nigeria’s economy. Once completed, these Inland Dry Ports will provide significant ...
Nigeria and Saudi Arabia have renewed plans to build the capacity of their geological agencies by leveraging the breakthroughs recorded by Saudi firms in mineral exploration. Segun Tomori, the Special Assistant on Media to the Minister of Solid Minerals Development, Dele Alake, made this known in a statement on Tuesday in Abuja. He said that ...
The Managing Director, Nigerian Ports Authority (NPA), Abubakar Dantsoho has reaffirmed the authority’s commitment to strengthening its partnership with the Nigerian Liquefied Natural Gas (NLNG) to boost exports. A statement by the NPA said that Dantsoho made the pledge when he received the NLNG’s Chief Executive Officer, Dr Philip Mshelbila, at its headquarters in Lagos ...
...We are strengthening audit systems to tackle corruption in procurement – BPP DG By Seun Ibiyemi and Matthew Dennis The Federal Government has assured Nigerians that the nation’s economy is on a steady path to recovery and growth, driven by critical reforms and fiscal measures introduced by the administration of President Bola Ahmed Tinubu. This ...
Nigeria under President Bola Tinubu would soon become a trillion-dollar economy despite the initial difficulties, the Minister of Communications. Innovations and Digital Economy, Dr Bosun Tijani said in Abuja on Monday. Dr Tijani said Nigeria’s Gross Domestic Product (GDP) would increase substantially within the next two years with 21 percent of it coming from the ...
The National Bureau of Statistics (NBS) has announced that it is set to unveil the Rebased Consumer Price Index (CPI) report by the end of January 2025. This move is part of the NBS’s ongoing efforts to provide accurate and updated data to support informed decision-making. A statement signed by Joel Ichedi, Director of Communication ...
