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By Seun Ibiyemi The Lagos Chamber of Commerce and Industry (LCCI) has urged the Federal Government and Nigeria Customs Service (NCS) to suspend enforcement of the newly introduced four per cent processing charge. The Director General, LCCI, Dr Chinyere Almona made the call on Thursday in Lagos, via a statement. Almona expressed concerns over the ...
...2013 Power sector privatisation yet to yield results — MAN By Seun Ibiyemi The Trade Union Congress of Nigeria (TUC) has rejected the proposed 65 per cent increase in electricity tariffs. This is even as Manufacturers Association of Nigeria (MAN) cautioned the federal government against any fresh increase in electricity tariffs, warning that such a ...
By Seun Ibiyemi The Comptroller General of the Nigeria Customs Service (NCS), Adewale Adeniyi has ordered all Customs Area Controllers (CAC) to sensitise importers and stakeholders about the recently introduced 4% Free On Board (FoB) levy. The CG in a circular NCS/FATS/ABJ/S.797, signed by Deputy Comptroller-General Finance, Admin and Technical Services, B.M Jibo, said the ...
...Nigeria must turn debt into economic asset — Shettima By Seun Ibiyemi The 2025 budget was increased from N49.7 trillion to N54.2 trillion to strengthen key economic sectors and infrastructure projects, Minister of Budget and Economic Planning, Abubakar Atiku Bagudu, has revealed. Speaking to journalists at the Presidential Wing of the Nnamdi Azikiwe International Airport, ...
A member of the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC), Murtala Sabo Sagagi, has identified excessive government spending as a major obstacle to effective monetary policy implementation in Nigeria According to Sagagi in the newly released personal statements of MPC members after the 298th meeting, the inability to control fiscal expenditures continues ...
The Securities and Exchange Commission (SEC) has revealed that the adoption of blockchain technology will enhance efficiency and aid the regulation of Nigeria’s capital market. Director General of the SEC, Dr. Emomotimi Agama, made this known during a meeting with a delegation from the Algorand Foundation at the Commission’s headquarters in Abuja. He noted blockchain’s ...
The Banking sector recorded a strong start to the year, with the NGX Banking Index surging by 9.76 percent in January, significantly outperforming the broader market, according to a corporate report obtained from the Nigerian Exchange Group on Tuesday. The rally was fueled by increased investor confidence amid the ongoing recapitalisation exercise, which has seen ...
The Nigerian Immigration Services (NIS) has announced that it is set to launch the contactless passport application solution in Europe, with the UK serving as the coordinating centre on February 7. Mrs Kemi Nanna Nandap, Comptroller General of the NIS made this known when she paid a courtesy call to Hon. Abike Dabiri-Erewa, Chairman/CEO, Nigerians ...
...As FG begins toll operations on Abuja-Akwanga-Lafia-Makurdi Road By Seun Ibiyemi and Jabiru Hassan The Federal Executive Council (FEC) has approved the issuance of a N758 billion bond to clear outstanding pension liabilities for all categories of pensioners, offering long-awaited relief to retirees. The approval, granted during Tuesday’s FEC meeting at the State House, Abuja, ...
...Releases N302bn pension accrued rights in five years By Seun Ibiyemi The Minister of Finance, Wale Edun has reiterated the country’s commitment to private sector-driven growth, and reduced reliance on external debt financing during a meeting with the Executive Director of World Bank, Zainab Ahmed. Edun acknowledged the World Bank’s role in supporting Nigeria’s development ...
By Seun Ibiyemi Ahead of its 80th anniversary, Wema Bank, Nigeria’s foremost innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has unveiled the identity for the anniversary celebration. Set for Friday, May 2, 2025, the anniversary would serve as the hallmark of Wema Bank’s 80-year journey of unmatched resilience, profound impact, and ...
...shifts attention to AI, Digital Innovation and Prose Literature In a move to promote innovation and creativity, submissions for the 2025 awards for the Nigeria Prize for Science and Literature have been opened. Nigeria LNG Ltd. said this in a statement signed by its Corporate Communications and Public Affairs Manager, Anne-Marie Palmer-Ikuku, on Sunday. It ...
A professor of Cybersecurity and Managing Director of Galaxy Backbone Limited, Prof. Ibrahim Adeyanju, has called on African leaders to modernise and revolutionalise education with Artificial Intelligence. Prof. Adeyanju made this call in Abuja while delivering the maiden Public Lecture of the African School of Economics (The Pan-African University of Excellence) on “Artificial Intelligence and ...
The Nigeria Export Promotion Council (NEPC) says the council contributed to economic diversification with an impressive non-oil performance of 5.456 billion dollars in 2024. The Executive Director of the NEPC, Mrs Nonye Ayeni, said this while addresing newsmen on the Non-Oil Export Performance for the year 2024, in Abuja on Friday. Ayeni said the effort ...
Vice President Kashim Shettima on Thursday declared that Nigeria’s women will play a central role in achieving Africa’s projected $29 trillion economy by 2050. The Vice President made this assertion while declaring open the 2025 Gender Inclusion Conference and launching the Project #SheIsIncluded at the State House Banquet Hall in Abuja. In his remarks at ...
...As revenue increases 20.4% in nine months By Seun Ibiyemi Airtel Africa Plc has announced the launch of its second $100 million share buyback programme, reinforcing its financial strength and commitment to shareholder returns. This comes after the successful completion of its initial $100 million buyback in December 2024. The telecom giant reported strong operational ...
The European Union (EU) has launched a $300,000 grant for Eurocham Nigeria Institutional Development Support to strengthen its secretariat, expand advocacy, and enhance external engagement for its members. The EU Ambassador to Nigeria and ECOWAS, Gautier Mignot, announced this on Thursday during Eurocham’s 25th Annual Stakeholders Conference, held in Lagos. Mignot said the $300,000 three-year ...
Access Bank PLC is set to host its first-ever Africa Trade Conference (ATC), a landmark event focused on advancing Africa’s economic transformation under the theme, ‘Empowering Africa Through Trade, Innovation, and Sustainable Growth’. Scheduled for March 12, 2025, in Cape Town, South Africa, the conference is poised to bring together the most influential voices in ...
The Nigerian Exchange Group (NGX), has sought collaboration with the Economic and Financial Crimes Commission (EFCC) in enhancing compliance with digital trading of assets and ridding the country’s stock market of fraud. EFCC Spokesperson, Dele Oyewale disclosed this to Nigerian NewsDirect in a statement on Wednesday in Abuja. Oyewale said that the Chief Executive Officer ...
By Seun Ibiyemi The Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr Zacch Adedeji, has called for greater collaboration on the National Single Window (NSW) Project, describing it as a key component in Nigeria’s strategy to overhaul its trade processes and unlock significant economic growth. The NSW initiative, he said, aligns with the ...
…As Zulum urges entrepreneurs to leverage MSME clinic for growth, resilience By: Austine Emmanuel, Kaduna Entrepreneurs in Borno State participating in the 6th Expanded National MSME Clinics and Fashion Hub are set to receive an unconditional grant of N300,000 each to bolster their businesses. Vice President Kashim Shettima made this announcement during the official launch ...
...Set to roll out 100 electric buses ...Secures $1.1bn AfDB investment to electrify 5m Nigerians by 2026 ...As IFC announces $70m commitment to Nigerian renewable energy companies By Matthew Denis, Abuja As part of ongoing efforts at the ongoing Africa Energy Summit in Tanzania, Nigeria’s President, Asiwaju Bola Ahmed Tinubu has stated that the country ...
President and Chairman of the Board of Directors of the African Development Bank (AfDB), Dr Akinwumi Adesina says the bank and the World Bank Group are committing 40 billion dollars toward the Mission 300 innitiative. Adesina disclosed this while delivering his welcome remarks tagged,“From Ideas to Action to Accelerate Energy Access,” at the Mission 300 ...
