business
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 […]
CBN Warns Banks, FX Dealers Against Rejecting Lower Dollar Denominations and Old Bills The Central Bank of Nigeria (CBN) has issued a warning to Deposit Money Banks (DMBs) and authorized forex dealers, advising them against rejecting old and lower denomination dollar bills from customers. This directive follows numerous complaints from customers after the CBN conducted […]
The NGX Insurance Index led the losers during the Sallah holiday-shortened week, falling by 1.32% week-on-week. This contributed to a 0.18% decline in the broader market indices. The NGX 30 Index followed with a 0.16% decline, and the NGX Banking Index fell by 0.04% week-on-week. Conversely, the NGX Oil and Gas Index led the gainers, […]
These laws mandate financial institutions to verify customer identities and monitor transactions for suspicious activity. Lawal said, “The extractive industry is particularly vulnerable to fraud and corruption, with schemes spanning different segments, including upstream, midstream, and downstream. This can result in significant revenue loss for the government and individuals. “Know Your Customer (KYC) compliance is […]
Nigeria’s current account balance has risen to $1.432 billion in 2024, despite the economic downturn impacting the country, according to the International Monetary Fund’s World Economic Outlook. The IMF data suggests a positive outlook for Nigeria’s economic growth and stability, reflecting a growing economy with increasing investment and savings, even amid eroding investor confidence. Nigeria’s […]
Metal Manufacturing Nigeria Limited (MMNL) Expands to Dominate Tubular Battery Market and Diversify Ventures Metal Manufacturing Nigeria Limited (MMNL) is not just Nigeria’s largest tubular battery company; it is also diversifying into multiple business verticals, including backward and forward integration and mining, to stay ahead of its competitors. To meet the rapidly growing demand in […]
She also noted the revenue increase to ₦430 million for the Lagos International Trade Fair Complex. The Minister of Industry, Trade and Investment, Doris Uzoka-Anite, announced that Nigeria secured over $30 billion in investment commitments over the past year. The Minister of Industry, Trade and Investment, Doris Uzoka-Anite, announced that Nigeria secured over $30 billion […]
Aliko Dangote Dangote Petroleum Refinery announced on Tuesday a further reduction in the prices of diesel and aviation fuel to N940 and N980 per liter, respectively. This price cut follows a celebrated decrease to N1,000 just two weeks prior. Customers purchasing five million liters or more from the refinery will benefit from the N940 price […]
Electricity Tariff Hike The Chairman of the Nigeria Electricity Regulatory Commission, Sanusi Garba, stated on Thursday in Abuja that the Federal Government of Nigeria would need to allocate N3.2 trillion in 2024 to undo the recent increase in electricity tariffs. During a stakeholders meeting hosted by the House of Representatives Committee on Power, Garba acknowledged […]