business
Federal Government Initiates Payment of ₦35,000 Wage Award Arrears to Civil Servants The Federal Government of Nigeria has commenced the disbursement of the long-awaited ₦35,000 wage award arrears to federal civil servants across the country. This initiative aims to alleviate the economic hardships faced by workers due to recent policy reforms, including the removal of […]
HEDA Initiates Legal Action Against Federal Government and Oil Corporations Over Alleged Unlawful Licence Transfer The Human and Environmental Development Agenda (HEDA) Resource Centre has filed a lawsuit against the Federal Government, multinational oil companies, and key regulatory bodies, challenging the legality of recent oil licence transfers. The suit, filed at the Federal High Court […]
NGX-Listed Companies Distribute N1.1 Trillion in Dividends, Secure N3.68 Trillion in Capital in 2024 — SEC The Securities and Exchange Commission (SEC) has disclosed that companies listed on the Nigerian Exchange (NGX) collectively disbursed N1.1 trillion in dividends to shareholders in 2024, affirming a year of strong corporate performance and enhanced investor returns. In addition […]
In a major step toward combating the adverse effects of climate change, the Edo State Government has officially launched a six-month work plan for the implementation of its €175 million Nigeria Climate Resilience Project. The ambitious initiative is being funded by the European Investment Bank (EIB) and is part of a broader national strategy to […]
The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced the temporary shutdown of the Port Harcourt Refining Company (PHRC) effective today, as part of a planned maintenance operation aimed at restoring the refinery’s optimal performance and operational integrity. In a statement released by the NNPC management, the shutdown is described as a necessary step […]
Lawyer Calls for Independent Oversight on Allocation of Emefiele’s 753 Forfeited Duplexes Prominent human rights lawyer Pelumi Olajengbesi has urged the Federal Government to establish an independent oversight committee to supervise the allocation and sale of the 753 duplexes recently forfeited by former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele. This call comes amid […]
UBA Challenges AMCON’s Unilateral Sale of IBEDC, Seeks Legal Intervention to Protect Stake The United Bank for Africa (UBA) Plc has filed a motion at the Federal High Court in Lagos to be joined as a party in an ongoing lawsuit concerning the contested sale of the Ibadan Electricity Distribution Company (IBEDC). UBA asserts that […]
Informa Markets Unveils WHX Lagos and WHX Labs Lagos, Marking a New Era in West African Healthcare Exhibitions Informa Markets, a global leader in event organization, has announced a significant transformation in its healthcare exhibitions portfolio, rebranding its flagship events Medic West Africa and Medlab West Africa as WHX Lagos and WHX Labs Lagos, respectively. […]
Akume Urges Nigerians to Embrace Locally Made Products as Pillar of Economic Growth and National Pride The Secretary to the Government of the Federation (SGF), Senator George Akume, has called on Nigerians to prioritize the patronage of locally manufactured goods, emphasizing that such support is not only an economic strategy but also a matter of […]
FG Clears 2.3 Million Households for Cash Transfer Amid Efforts to Reach 15 Million Target In a significant move to alleviate poverty, the Federal Government of Nigeria has confirmed that 2.3 million households have been verified and cleared to receive payments under the revamped Conditional Cash Transfer (CCT) program. This development is part of the […]
Nigeria’s ₦54.9 Trillion Budget: Balancing Ambition with Prudence as FG, World Bank Diverge on Funding Plans n a pivotal moment for Nigeria’s economic trajectory, the Federal Government’s ambitious ₦54.9 trillion budget for 2025 has sparked a nuanced dialogue with the World Bank over the nation’s funding strategy. While both entities share a commitment to Nigeria’s […]
Coronation Group Focuses on Wealth Generation at New CEO Forum Coronation Group, a leading African financial services firm, has reaffirmed its dedication to fostering economic growth and sustainable wealth creation across the continent by returning as a Gold Sponsor of the prestigious Africa CEO Forum 2025. Set to take place in Abidjan, Côte d’Ivoire, the […]
A wave of public outrage has erupted in Abuja as protesters gathered outside a Guaranty Trust Bank (GTBank) branch following the controversial arrest of popular social media activist Martins Vincent Otse, widely known as VeryDarkMan (VDM). The protest, led mostly by young Nigerians, took place on Friday, May 3, 2025, just a day after VDM […]
President Tinubu Enacts ‘Nigeria First’ Policy to Prioritize Local Goods in Government Procurement In a decisive move to bolster Nigeria’s domestic economy, President Bola Tinubu has introduced the “Renewed Hope Nigeria First Policy,” effectively banning federal Ministries, Departments, and Agencies (MDAs) from procuring foreign goods or services that are readily available within the country. This […]
The Speaker of the House of Representatives, Tajudeen Abbas, and his Deputy, Benjamin Kalu, have paid heartfelt tributes to Nigerian workers in celebration of this year’s Workers’ Day, acknowledging their vital contributions to national development. In a goodwill message released Thursday by his Special Adviser on Media and Publicity, Musa Abdullahi Krishi, Speaker Abbas described […]
NAFDAC Seizes Over 100 Truckloads of Counterfeit and Banned Drugs in Major Markets The National Agency for Food and Drug Administration and Control (NAFDAC) has confiscated and evacuated more than 100 truckloads of substandard, falsified, and banned medicines, including narcotics, from key markets in Lagos, Anambra, and Abia states. In a statement released on Sunday, […]
Canada Launches RISE Project to Empower Women and Youth in Northern Nigeria Canada has unveiled the Resilient and Inclusive Agri-Food Systems Empowering Women and Youth (RISE) Project, aimed at supporting women and youth entrepreneurs in Northern Nigeria’s agricultural sector. Announced by Canada’s Minister of International Development, Ahmed Hussen, in a statement from the Canadian High […]
Since assuming office, Tinubu has embarked on 32 foreign trips to at least 19 countries, including France, the UK, the US, Germany, India, Saudi Arabia, and the UAE. His frequent travels continue to be a subject of national debate amid growing economic concerns.MDAs, Presidency Spent N1.99bn on Foreign Trips, Training in France Ministries, Departments, and […]
TotalEnergies has announced the sale of its participation stake in three additional licenses, primarily generating gas, to a Mauritian company. These assets currently contribute 40% of Nigeria’s LNG production. Despite the divestment, TotalEnergies will retain its production share, ensuring continued access to essential infrastructure and pipelines required for supplying gas […]
Akinwumi Adesina On Friday, Dr. Akinwumi Adesina, President of the African Development Bank, advocated for youth investment in Nigeria’s agri-business sector. Adesina made this call during his keynote address at the Council of Anglican Provinces of Africa Primates and Wives’ Retreat in Abuja. He spoke on the topic “Food Security and Financial Sustainability in […]