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Lagos State Governor, Dr Babajide Sanwo-Olu has pivoted the state’s economic diplomacy toward the Commonwealth, announcing a strategic alliance with the Commonwealth Enterprise and Investment Council to underpin the launch of InvestLagos 3.0. This partnership marks a shift in the state's approach to capital mobilization, moving beyond general investment promotion to a specialized, technical framework ...
The Federal Government of Nigeria has achieved a significant breakthrough in its mission to close the nation’s digital divide, securing a $100 million investment from the European Bank for Reconstruction and Development (EBRD). Dr. ’Bosun Tijani, the Minister of Communications, Innovation, and Digital Economy, confirmed the formal approval of the funds following the conclusion of ...
The Dangote Petroleum Refinery has formally entered into a major offtake agreement with the nation’s leading oil marketers to supply between 60 and 65 million litres of Premium Motor Spirit (PMS) daily. The agreement, announced on Tuesday marks the definitive end of Nigeria's decades-long dependence on imported fuel and positions the country as a net exporter of refined petroleum ...
By Denis MatthewIn a significant shift in Nigeria’s macroeconomic strategy, the Central Bank of Nigeria (CBN) has lowered its benchmark interest rate, the Monetary Policy Rate (MPR), by 50 basis points to 26.5 percent from 27 percent.The decision, announced by CBN Governor Olayemi Cardoso following the 304th Monetary Policy Committee (MPC) meeting on Tuesday, marks ...
Governor Babajide Sanwo-Olu of Lagos State has revealed that President Bola Tinubu is very excited and fully supportive of the establishment of the Lagos International Financial Centre (LIFC). The Governor shared this update during a welcome dinner for delegates at the Nigeria Foreign Direct Investment Training Programme, currently taking place at the University of Cambridge. ...
The Budget Office of the Federation has issued a firm defense of Executive Order 9 (EO9), describing it as a tool for constitutional fidelity rather than an attempt by the Presidency to bypass the National Assembly. In a press statement released on Monday, Tanimu Yakubu, Director-General of the Budget Office, addressed growing concerns that the order amounts to executive law-making. ...
In a significant boost for Nigeria’s international legal standing, the Federal Government has emerged victorious in a high-stakes $6.2 million arbitration battle against European Dynamics UK Limited. The dispute, which centered on a stalled national electronic Government Procurement (eGP) system, concluded with a final ruling that relieves Nigeria of a potential financial liability totaling approximately ...
The Securities and Exchange Commission (SEC) has revealed that the Nigerian Capital market contribution to the Gross Domestic Product (GDP) has surged from 13 percent to 33 percent in just 23 months. Addressing the inaugural meeting of the Capital Market Working Group on Market Liquidity in Abuja, Dr. Agama characterized this 125 percent growth as a ...
By Matthew Denis The Federal Roads Maintenance Agency (FERMA) has formally presented a proposed budget of ₦229.999 billion for the 2026 fiscal year, marking a strategic effort to overhaul the nation’s road network and bolster inter-state connectivity. This financial blueprint, defended before the Joint Senate and House Committees on FERMA, allocates ₦191 billion to capital ...
...reveals a single bank account is siphoning 5,615 monthly salaries ...as State Gov't accuses firm of inflating figures to claim higher commissions An audit firm, Salivot Consulting Limited has alleged that it has uncovered a massive N13.7bn payroll fraud involving over 8,000 ghost workers and pensioners. The firm’s CEO, Ms. Sadat Bakrin-Ottun, revealed this during an ...
Two years is a short time in business.But in travel and especially in African travel-tech it’s long enough to be tested, stretched, humbled, and refined. On February 15, 2026, TRAVUL.ORG turns two. This milestone is not a victory lap. It’s a reflection. A pause to examine the road traveled so far the successes that validated ...
The Chartered Institute of Directors (CIoD) Nigeria has inaugurated a new executive committee for its Young Directors Forum (YDF), charging the leadership to cultivate a new breed of ethical and digitally relevant board leaders. The President of CIoD Nigeria, Mr. Adetunji Oyebanji, represented by the 1st Vice President, Mrs. Amina Oyagbola, underscored the forum’s role ...
...issues executive order approving direct remittance of oil revenues ....suspends NNPC Ltd management fee In a decisive move to halt the hemorrhaging of Nigeria’s primary revenue source, President Bola Tinubu has signed a landmark Executive Order that effectively strips the Nigerian National Petroleum Company Limited (NNPCL) of its controversial multi-billion naira management fees and speculative exploration funds. The directive, which takes immediate effect, aims to correct ...
The persistent pressure on Nigerian dining tables is finally easing as a dramatic harvest of relief pulls headline inflation down to 15.10% in January 2026. This shift, revealed by the National Bureau of Statistics, marks a significant cooldown from the 15.15% recorded in December and a massive retreat from the 27.61% seen just one year ...
Nigeria can transform risks and complexities in the oil and gas industry to opportunities for growth and development if operators and regulators collaborate in a business environment that encourages transparency and governance discipline without late-stage fiscal or regulatory shocks. The remark was made on behalf of the Managing Director of Shell Nigeria Exploration and Production ...
Nigerian Maritime Administration and Safety Agency (NIMASA) and Nigerian Upstream Petroleum Regulatory Commission (NUPRC) have reaffirmed their commitment to strengthening Nigeria’s investment climate through enhanced inter-agency collaboration. This formed the core of discussions during a working visit by the Director-General of NIMASA, Dr. Dayo Mobereola, to the Commission Chief Executive of NUPRC, Mrs. Oritsemeyiwa Eyesan, ...
In a swift response to the fire disaster that ravaged Kano’s Singer Market over the weekend, President Bola Ahmed Tinubu has dispatched a high-powered federal delegation, led by Vice President Kashim Shettima, to provide immediate support and financial relief to the victims. The delegation, scheduled to depart for Kano on Monday, underscores the Federal Government's ...
The Federal Government has signaled a definitive end to the era of banks profiting from currency volatility, following a meeting on Friday between President Bola Tinubu and the Chairman of United Bank for Africa (UBA), Tony Elumelu. The meeting marks a strategic pivot in the administration’s economic war room. While previous discussions focused on saving ...
A staggering hidden tax of up to ₦10 trillion is being drained from Nigeria’s economy every year, not by external market forces, but by internal systemic rot. A new policy brief released on Sunday by the Centre for the Promotion of Private Enterprise (CPPE) has sounded the alarm on the deeply corrosive impact of employee ...
The Central Bank of Nigeria (CBN) has intensified its regulatory oversight of the national clearing system by rolling out a revised sanctions framework for banks and accredited cheque printers. The new guidelines, contained in a circular dated February 10, 2026, introduce heavy financial penalties of up to N20 million for infractions, marking a drastic update ...
President Bola Ahmed Tinubu has commended the Bank of Industry (BOI) for achieving a landmark N636 billion in loan disbursements to Nigerian businesses throughout 2025. This figure represents the highest annual financing volume in the institution’s history, a feat the President described as concrete evidence that ongoing macroeconomic reforms are successfully strengthening development finance and ...
By Matthew Denis The Registrar-General of the Corporate Affairs Commission (CAC), Hussaini Magaji, has revealed that the commission has reported 248 fake companies to the Economic and Financial Crimes Commission (EFCC) for alleged fraudulent activities. The disclosure was made on Tuesday during his opening address at the CAC’s 35th-anniversary celebration, themed "Transparency for Development: The ...
The Federal Government of Nigeria, in partnership with Ericsson (NASDAQ: ERIC), is set to launch the ‘Connect NextGen’ Innovation Hackathon in Nigeria, targeted at upskilling Nigerian youths in modern technologies. The four-month programme being overseen by the Office of the Vice President will be launched tomorrow, February 11, 2026, at the Presidential Villa, Abuja. The ...
