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Governor Alex Otti of Abia State has endorsed the “One Insurance Industry” initiative of the Nigerian Council of Registered Insurance Brokers (NCRIB). Otti also pledged the state government’s support to drive insurance awareness and deepen industry growth. The Governor gave the assurance when the President of the NCRIB, Mrs Ekeoma Ezeibe, led a delegation of ...
By Matthew Denis The Federal Government is facing an imminent shutdown of critical economic sectors as the All Indigenous Contractors Association of Nigeria (AICAN) has declared a total war on debt, laying siege to the Federal Ministry of Finance headquarters in Abuja. The contractors are demanding the immediate settlement of an alleged ₦4 trillion backlog ...
…as Economist predicts single-digit rate By Seun Ibiyemi Economic experts are expressing conflicting concerns following the release of Nigeria's latest inflation figures. While headline inflation dropped to 15.15 percent in December 2025, marking a significant year-long trend of disinflation, analysts warn that rising core inflation and controversial statistical methodologies threaten to undermine investor confidence. Dr. ...
Repton Group, a Nigeria-based conglomerate has emerged as the winner of the 2025 Dangote Cement Award of the Largest Distributor in Nigeria and Sub-Saharan Africa. This marks the third consecutive achievement of the rare feat, having earlier clinched the 2023 and 2024 editions of the annual award. Repton Group, with subsidiaries such as Kazab Heritage ...
More than 100,000 vulnerable individuals across Africa have received a vital lifeline following a wide-reaching humanitarian intervention by the UBA Foundation, the Corporate Social Responsibility arm of United Bank for Africa (UBA) Plc. Between November 2025 and January 2026, the Foundation mobilized resources worth millions of naira and dollars to distribute essential food items, school ...
The Federal Ministry of Marine and Blue Economy has signed a landmark Memorandum of Understanding (MoU) with the Abu Dhabi Ports Group to bolster collaboration in port development, maritime logistics, and digital solutions. This strategic agreement marks a pivotal moment in strengthening economic ties between Nigeria and the United Arab Emirates (UAE). The pact was sealed on the sidelines ...
The Budget Office of the Federation has stated that the North East Development Commission (NEDC) is operational and mot solely existing to pay salaries. In a statement issued in Abuja on Thursday, the Director General of the Budget Office, Tanimu Yakubu debunked recent allegations suggesting that the North East Development Commission (NEDC) operates on a ...
President of Dangote Industries Limited, Aliko Dangote, has unveiled an ambitious roadmap to expand the group’s cement production capacity to approximately 90 million tonnes and more than double the Dangote Refinery’s output to 1.4 million barrels per day (bpd) by 2030. Dangote disclosed these strategic targets in Lagos during the company's 2026 Distributors’ Awards Night, ...
The Sea Empowerment Research Centre (SEREC) has called for the immediate establishment of a shipping charges review forum following the recent shutdown of the Mediterranean Shipping Company (MSC) office in Apapa by aggrieved freight forwarders protesting increased charges. Dr. Eugene Nweke, SEREC’s Head of Research, made the appeal in a statement issued on Wednesday in ...
The Nigerian Exchange Limited (NGX) has admitted an additional 3.16 billion ordinary shares of United Bank for Africa (UBA) Plc to its Daily Official List, signalling a significant boost to the bank’s market capitalisation and deepening liquidity in the capital market. The NGX confirmed the listing in a letter dated January 12, 2026, signed by ...
The Central Bank of Nigeria (CBN) has declared that the nation's economy is showing signs of a significant turnaround, driven by the deep structural reforms introduced by the Tinubu administration. Speaking at the Hadiza Bala Usman @50 Governance Colloquium in Abuja on Tuesday, the Deputy Governor of the CBN in charge of Economic Policy, Muhammad ...
The World Bank has revealed that the global economy is displaying greater resilience than previously anticipated, defying persistent trade tensions and widespread policy uncertainty. This assessment is contained in its latest Global Economic Prospects report released on Tuesday. The report projects global growth to ease slightly to 2.6 percent in 2026 before rising to 2.7 ...
The National Bureau of Statistics (NBS) has alerted Nigerians to expect an artificial spike in the December 2025 inflation figures, attributing the projected surge to a technical base effect from the Consumer Price Index (CPI) rebasing rather than worsening economic fundamentals. This clarification came as investment banking firm, CardinalStone Partners, projected a significant easing of ...
The Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola (CON), has renewed his call to state governments to urgently ban the use of wooden boats for commercial transportation, citing their high susceptibility to accidents. Reacting to recent tragic boat mishaps that have claimed lives across the country, Oyetola described the recurring incidents as painful ...
The Nigeria Deposit Insurance Corporation (NDIC) has declared a second liquidation dividend of ₦24.3 billion for depositors of the defunct Heritage Bank Limited, marking another milestone in the reimbursement process following the revocation of the bank’s operating licence. The Central Bank of Nigeria (CBN) withdrew the bank’s licence on June 3, 2024, appointing the NDIC ...
In a major policy shift validating persistent advocacy for consumer protection, the Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) have released a comprehensive framework to address consumer complaints arising from unsuccessful airtime and data transactions. The development comes on the heels of a series of investigative reports and escalations by NewsDirect, ...
President Bola Tinubu has commended corporate Nigeria, investors and other stakeholders for pushing the Nigerian Exchange (NGX) past the historic ₦100 trillion market capitalisation mark, describing the feat as a clear signal of renewed confidence in the nation’s economy. The President, who urged Nigerians to deepen investments in the local economy, assured that 2026 would ...
Bayelsa State Governor, Douye Diri is celebrating the impressive half year budget performance of his administration released by the International Centre for Investigative Reporting (ICIR) for 2025. The ranking released in October 2025, indicated that the state recorded the best performance across Nigeria in budget implementation and transparency with number 1 spot at 49.4 per ...
By Seun Ibiyemi The Federal Government has announced a strategic target to raise Nigeria’s revenue-to-GDP ratio from the current 12.5 per cent to 18 per cent by 2030, as part of efforts to ensure long-term economic sustainability. The Minister of State for Finance, Hon. (Dr.) Doris Nkiruka Uzoka-Anite, disclosed this in a statement released via ...
United Bank for Africa (UBA) Plc has successfully raised N178.3 billion through a recently concluded rights issue, pushing its capital base above the N500 billion minimum requirement for Tier 1 banks with international licences. The bank disclosed this in information released after the close of the rights issue in September 2025. The latest fundraising builds ...
First HoldCo Plc says its commercial banking subsidiary, First Bank of Nigeria Ltd., has met the Central Bank of Nigeria’s N500 billion minimum capital requirement. The disclosure was made in a statement on Wednesday by Mr Olayinka Ijabiyi, Acting Group Head, Marketing and Corporate Communications, FirstBank. Ijabiyi said the milestone followed strategic capital initiatives, including ...
The Tony Elumelu Foundation (TEF) has officially opened applications for its 2026 TEF Entrepreneurship Programme, inviting ambitious young founders from all 54 African countries to apply via TEFConnect. Successful applicants will receive US$5,000 in non-refundable seed capital, intensive business training, mentorship, and direct access to Africa’s largest entrepreneurship network. Since its inception in 2015, the ...
By Seun Ibiyemi The Federal Airports Authority of Nigeria (FAAN) has reported a total of 4.33 million international passenger movements across the country’s major airports from January to December 2024, representing a 6.48 per cent increase from the 4.07 million recorded in 2023. The figures were disclosed in FAAN’s Harmonised Passenger Movement report on Tuesday ...
