Latest in
By Seun Ibiyemi Minister of Marine and Blue Economy, Adegboyega Oyetola, has stated that sustainable fisheries management is a vital pathway to economic growth and food security in West Africa. Speaking at the 15th session of the Conference of Ministers of the Fisheries Committee for the West Central Gulf of Guinea (FCWC) in Monrovia, Liberia, ...
By Seun Ibiyemi The Director-General of the National Pension Commission (PenCom), Omolola Oloworaran, has announced that pension fund assets in Nigeria reached N21.92 trillion as of October 2024, although challenges continue to affect the industry. Oloworaran made this announcement on Thursday, highlighting that these challenges are being addressed through various initiatives, including a comprehensive review ...
The Securities and Exchange Commission (SEC) has revealed that since 2017, the Nigerian federal government has issued six Sovereign Sukuk bonds, amounting to N1.1 trillion ($657.6 million). The proceeds from these bond issuances have been allocated to finance 124 federal road projects, covering a total of over 5,820 kilometres across Nigeria’s six geopolitical zones. This ...
The Securities and Exchange Commission (SEC) says the federal government has issued six sovereign sukuk bonds worth N1.1 trillion ($657.6 million) to finance 124 road projects spanning over 5,820 kilometers across the country’s six geopolitical zones. The director-general of the SEC, Emomotimi Agama, spoke during the 2nd international Islamic Capital Market (ICM) conference in Pakistan. ...
By Olawale Afolabi The Federal Airports Authority of Nigeria (FAAN) reported that it contributed a total of N218.3 billion from its internally generated revenue (IGR) and N352.3 million in stamp duty payments to the federation's consolidated revenue fund (CRF) account between 2020 and 2024. Olubunmi Kuku, FAAN’s managing director, announced the figures on Wednesday during ...
By Olawale Afolabi Access Holdings has announced that its banking subsidiary, Access Bank Plc, has signed a binding agreement with South Africa’s Bidvest Group Limited to acquire a 100% equity stake in Bidvest Bank Limited. Access Holdings’ secretary, Sunday Ekwochi, announced the agreement in a corporate filing on the Nigerian Exchange Limited (NGX) on Thursday. ...
The Gateway International Agro-Cargo Airport has been certified as world-class by a cross-section of regulatory agencies in the aviation industry, who visited the airport yesterday. The agencies involved in the inspection, including the Nigerian Civil Aviation Authority (NCAA), Nigerian Airspace Management Agency (NAMA), and the Nigerian Meteorological Agency (NiMet), unanimously deemed the airport to be ...
President Bola Ahmed Tinubu, on Wednesday in Abuja, reassured the German government and business leaders of the ease of doing business in Nigeria, highlighting the country’s ongoing reforms aimed at fostering investment. The President made the remarks during a business session at the State House, attended by his cabinet members, as part of the State ...
The African Development Bank Group (AfDB) facilitated $2.2 billion in capital mobilization for its transformative Special Agro-Industrial Processing Zones Nigeria Phase II project during the Hu Hu Africa Investment Forum. At a packed presidential boardroom on Wednesday 4th December, governors from Nigerian States, leaders from multilateral development organizations, the diplomatic corps as well as private ...
By Olawale Afolabi The Central Bank of Nigeria (CBN) has dismissed claims that it is selling foreign exchange (FX) to eligible Bureau de Change (BDC) operators at N1,301 per dollar. In a statement posted on X on Tuesday, the CBN clarified that a widely circulated document suggesting such a transaction did not originate from the ...
Airtel Nigeria and Google have unveiled a new partnership that will see the telecom company integrate YouTube, into Airtel’s Smart Router. The partnership which was unveiled at an agreement signing ceremony at the telecom giant’s Lagos headquarters aims to transform home entertainment across Nigeria. As part of this innovative update, the Airtel Smart Router further ...
Heirs Insurance Group, Nigeria’s fastest-growing insurance group, has announced the launch of its “Unwrapping Smiles” campaign, a festive initiative designed to bring hope to individuals, families, and communities this holiday season. Running from December 10 to December 31, 2024, the campaign will feature community-focused outreaches, including Christmas gifts and exciting rewards to put smiles ...
.Increased oil production, other indices to boost revenue — Edun tells Reps ..By Seun Ibiyemi The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has announced that the government plans to borrow N9.3 trillion and allocate N2 trillion for debt servicing in the 2025 fiscal year, reflecting ongoing efforts to stabilize the ...
The African Development Bank (AfDB) has offered strategic recommendations for Nigeria and other African nations to address escalating debt burdens and foreign exchange challenges. These insights were shared by the Bank’s Vice-President for Economic Governance and Knowledge Management, Prof. Kevin Urama, during an interview with newsmen. Addressing Nigeria’s debt profile, Urama noted that debt, when ...
The African Development Bank has outlined key strategies for Nigeria and other African nations to address rising debt burdens and foreign exchange difficulties. These insights were shared by the Bank’s Vice-President for Economic Governance and Knowledge Management, Prof. Kevin Urama, in a recent interview with the News Agency of Nigeria. Urama discussed Nigeria’s debt profile, ...
Nigeria reported its lowest capital importation inflows this year in the third quarter(Q3) of 2024, falling to $1.25 billion, according to the National Bureau of Statistics (NBS) data released on Saturday. The Nigeria capital importation report for Q3 of 2024 fell by 51.90 percent from $2.6 billion in the second quarter (Q2) of 2024. The ...
…backs Tinubu's tax reform bill By Ismail Azeez The Chairman of Odu'a Investment Company Limited, Otunba Bimbo Ashiru, has said there is need for Nigerians to be open to reforms and innovation especially in the area of tax reform. Ashiru disclosed this at the NewsDirect 14th Anniversary and Awards ceremony held in Lagos yesterday. He ...
The federal government has announced the establishment of an industrial revolution work group aimed at revitalising the manufacturing sector, creating more jobs, and driving sustainable economic growth. The Minister of State for Industry, Trade and Investment, made this announcement during an interactive session with members of the Manufacturers Association of Nigeria (MAN) and other industrial ...
The Minister of Aviation and Aerospace Development, Festus Keyamo, has directed the dismantling of joint inspection tables operated by multiple security agencies in a bid to streamline the passenger processing system. Going forward, inspections will prioritise intelligence-based searches, advanced scanning technology, and passenger profiling to improve efficiency and precision. Furthermore, new observation zones equipped with ...
Nigerian bank customers paid a total of N133.89 billion as electronic money transfer (EMTL) levy to the government between January and August this year. This was revealed in the 2025-2027 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP), which highlights the government’s revenue for the period. Banks deduct the N50 EMTL levy on behalf ...
The Nigerian Content Development and Monitoring Board (NCDMB) and the Bank of Industry (BOI) have reviewed the agreement on the Nigerian Content Community Contractors Financing Scheme. The two government organisations signed the reviewed agreement at the ongoing 13th Practical Nigerian Content (PNC) Conference and Exhibition holding at the NCDMB Conference Centre in Yenagoa, Bayelsa State. ...
By Seun Ibiyemi The Nigerian Senate has suspended action on the tax reform bills and constituted an ad-hoc committee that would engage with the federal government to resolve the contentious areas in the bills before further legislative action. The deputy Senate president, Barau Jibrin, who presided over the plenary session on Wednesday, announced that the ...
Zenith Bank Plc has emerged as ‘Bank of the Year, Nigeria’ in The Banker’s Bank of the Year Awards 2024. The award, which was announced by The Banker Magazine, Financial Times Group, United Kingdom, during the awards ceremony held in London on December 4, 2024, is in recognition of the bank’s strong management, sound business ...
