Latest in
By Seun Ibiyemi The Nigerian Communications Commission (NCC) has announced that telecom consumers will be able to reclaim unused airtime within 12 months of deactivation. This provision is part of the new Draft Guidance aimed at regulating the management of unclaimed and unutilized recharges on deactivated subscriber lines in Nigeria’s telecommunications sector. The announcement was ...
By Seun Ibiyemi The Federal Government announced on Tuesday in Abuja that it could generate over 200 billion dollars (311.23 trillion naira) annually from the regulation and licensing of space activities. Minister of Innovation, Science, and Technology, Chief Uche Nnaji, made the statement at a one-day sensitisation and stakeholder engagement event on the commencement of ...
The current influx of investors to Ogun State has yet to abate, as another recycling plant for the production of aluminium and copper ingots has been established in the state. The Managing Director and Chief Executive Officer of Neveah Ltd, Mr. Ibidapo Lawal stated this on Monday after a meeting with Governor Dapo Abiodun in ...
By Seun Ibiyemi The Programme Coordinator of the Presidential Compressed Natural Gas Initiative (PCNGI), Mr Michael Oluwagbemi, has revealed that the initiative has attracted over $491 million in investments into the AutoCNG sector, creating more than 9,000 direct and 75,000 indirect jobs over the past year. Speaking to State House Correspondents on Monday, Oluwagbemi shared ...
…Commends UBA’s role in facilitating africa’s development The President of the African Development Bank (AfDB) Group, Dr Akinwumi Adesina, stated on Wednesday that strengthening connections between global financial hubs and African markets is crucial for unlocking economic opportunities. Dr Adesina made this statement during a courtesy visit to the United Bank for Africa (UBA UK) ...
The Minister of Foreign Affairs, Amb. Yusuf Tuggar, has reiterated the Federal Government’s commitment to strengthening bilateral cooperation with Sweden. He emphasised efforts to deepen relations through trade, sustainable development, gender equality, and cultural exchange. Tuggar made this statement during the official visit of Her Royal Highness Victoria, Crown Princess of Sweden, to the ministry ...
By Matthew Denis A survey conducted by Veriv Africa on food prices in Nigeria has revealed that a notable 52 percent of farmers have a pessimistic outlook for the country’s agricultural sector in 2026. Veriv Africa, a research and advisory firm, announced the release of its highly anticipated inaugural food price baseline survey report on ...
By Seun Ibiyemi The National Agency for Food and Drug Administration and Control (NAFDAC) has appointed Cotecna Inspection Services (CIS) as a key agent under its Clean Report of Inspection and Analysis (CRIA) scheme. Cotecna’s appointment aims to tackle the growing problem of substandard and counterfeit medicines entering Nigeria. This move follows NAFDAC’s recent seizure ...
The Federal Government has acknowledged the recent tariff measures announced by the U.S. Government, including imposing a 14 per cent tariff on Nigerian exports. This is contained in a statement signed by Dr Jumoke Oduwole, Minister of Industry, Trade and Investment, on Sunday in Abuja. The U.S. President, Donald Trump announced that exports from Nigeria ...
FCMB Group Plc has announced its audited financial results for the full year ended December 31, 2024, reporting a profit before tax (PBT) of N111.9 billion, a 7.1% year-on-year increase. The Group recorded a 53.9% increase in gross revenue at the end of December 2024, reaching N794.4 billion, driven by a 75.2% growth in interest ...
TotalEnergies Marketing Nigeria Plc says it generated N27 billion as profit for the financial year ended Dec. 31, 2025. This is 133 per cent surge from N12 billion recorded in 2023. TotalEnergies disclosed this in its audited financial statement posted as a corporate disclosure through the Nigerian Exchange Ltd. The company also proposed a dividend ...
Nigeria is seeking a fresh $10.5 million loan from the World Bank to enhance the Central Bank of Nigeria’s technical capacity and modernize the country’s domestic payment infrastructure. The proposed CBN Technical Assistance Facility aims to support the integration of innovative technologies and data science into the CBN’s supervisory processes, helping to strengthen regulatory oversight ...
By Seun Ibiyemi Transcorp Hotels Plc has approved a final dividend payment of 64 kobo per share for the 2024 financial year, which, combined with an earlier interim dividend of 10 kobo per share, brings the total dividend payout to 74 kobo per share. This totals N7.57bn. The announcement was made by the Chairman of ...
By Matthew Denis The International Monetary Fund (IMF) has expressed its support for the Single Window Trade Project, an innovative initiative set to streamline trade processes, boost revenue, and position Nigeria as a leader among African economies. In a statement issued on Thursday by Mohammed Manga, Director of Information and Public Relations, the IMF outlined ...
By Seun Ibiyemi The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, has described Micro, Small, and Medium Enterprises (MSMEs) as the cornerstone of the Nigerian economy. Oduwole made this statement on Wednesday in Makurdi during the opening of the 2-day Benue Inventors and Entrepreneurs Exhibition 2025. The minister noted that MSMEs contribute more ...
A stockbroker, Mr David Adonri, has stated that the anticipated listing of the Nigerian National Petroleum Company (NNPC Ltd.) on the Nigerian Exchange Ltd. (NGX) will unlock global capital, helping the company surpass President Tinubu’s $60 billion investment goal by 2030. Reports note that President Bola Tinubu, following the reconstitution of the company’s leadership, tasked ...
Nigeria has increased its electricity generation capacity by 2,000 megawatts (MW) in just two years, a remarkable achievement that previously took nearly four decades to accomplish. The Minister of Power, Adebayo Adelabu, made this announcement during a courtesy visit to his office in Abuja by the Nigerian Society of Engineers (NSE), led by its President, ...
By Seun Ibiyemi The Chairman of the Senate Committee on Capital Market, Senator Osita Izunaso, has praised President Bola Tinubu for signing the Investments and Securities Act (ISA) into law. He stated that the signing of the Investments and Securities Act (ISA) has laid the foundation for the $1 trillion economy proposed by Tinubu’s administration. ...
The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, has described Micro, Small, and Medium Enterprises (MSMEs) as the backbone of the Nigerian economy. Oduwole stated this on Wednesday in Makurdi at the opening of a 2-day Benue Inventors and Entrepreneurs Exhibition 2025. The minister stated that MSMEs contribute more than 48 per cent ...
By Seun Ibiyemi The Centre for the Promotion of Private Enterprise (CPPE) has strongly opposed the federal government’s proposed ban on the importation of solar panels, warning that such a move could substantially exacerbate Nigeria’s energy crisis. This opposition comes in response to a recent statement by the Minister of Science and Technology, Mr. Uche ...
Revenue-generating agencies owe FG N9.3trn — NEITI Revenue-generating agencies owe the Federal Government a total of N9.3 trillion in unremitted liabilities. The Nigeria Extractive Industries Transparency Initiative (NEITI) revealed this in its 2023 industry report, which draws attention to financial discrepancies within the nation’s extractive sector. Speaking at a press briefing on the implementation of ...
…Declares total dividend of N2.10 per share Leading financial institution, Fidelity Bank Plc, released its 2024 full-year Audited Financial Statements, reporting a 210% growth in Profit Before Tax to N385.2 billion. According to the Bank’s results released on the Nigerian Exchange (NGX) on Friday, 28 March 2025, Gross Earnings increased by 87.7% to N1,043.4bn, driven ...
The Lagos Chamber of Commerce and Industry (LCCI) has outlined strategic approaches aimed at maximising the benefits of the $500 million loan by the World Bank to Nigeria while mitigating associated risks. The Director General, LCCI, Dr Chinyere Almona, made this known on Tuesday in Lagos in reaction to the approval of the loan by ...
