business
FX Floodgates Open: Naira Surges to 10-Month High as CBN Reforms Trigger Massive Investor Confidence The Nigerian Naira has hit a significant milestone, strengthening to a 10-month high against the US dollar in the official Nigerian Foreign Exchange Market (NFEM). This latest surge is a direct consequence of sustained and strong foreign exchange (FX) inflows, […]
First Lady Oluremi Tinubu Delivers 21 Brand-New Shuttle Buses to OAU in Fulfilment of Key Campus Safety Pledge The Obafemi Awolowo University (OAU), Ile-Ife, is celebrating a major upgrade to its internal transportation system following the delivery of 21 brand-new shuttle buses donated by the First Lady, Senator Oluremi Tinubu. The donation, which was announced […]
Nigeria’s Total Public Debt Hits Record ₦152.4 Trillion, Driven by Naira Depreciation and Massive Fiscal Deficits The Nigerian Economic Summit Group (NESG) has issued a sobering assessment of the nation’s fiscal health, revealing that Nigeria’s debt stress has reached its highest level on record. According to findings from the group’s newly introduced Debt Burden Index […]
FG, MOFI Finalize Roadmap with Flutterwave to Power Trade and Financial Inclusion Nigeria has taken a significant step toward accelerating its digital economy, with the Federal Government (FG) and the Ministry of Finance Incorporated (MOFI) concluding a strategic meeting with Flutterwave Technology Solutions Limited. The high-level talks focused on forging a robust partnership to expand […]
Kogi State Flags Off Rehabilitation of Nine Livestock Markets to Boost Economy, Meet Global Standards Kogi State has officially launched a major initiative to rehabilitate nine livestock markets across its three senatorial districts, marking a significant step towards modernizing the state’s agricultural sector. The project, overseen by the Kogi State Livestock Productivity and Resilience Support […]
Insurance Experts Express Concern Over NAICOM’s Ban on Coinsurance Between Takaful and Conventional Firms The Nigerian insurance industry is currently facing a regulatory shockwave as the National Insurance Commission (NAICOM) introduces a ban on coinsurance arrangements between Takaful operators and Conventional insurance companies, a move which industry experts are reportedly faulting. The directive, contained in […]
MURIC Urges NAICOM to Withdraw Circular Banning Co-insurance Between Takaful and Conventional Insurers The National Insurance Commission (NAICOM), Nigeria’s insurance regulatory body, is currently facing pressure from the Muslim Rights Concern (MURIC) to rescind a recent circular prohibiting co-insurance arrangements between Takaful and conventional insurance companies. The circular, titled “Prohibition of Coinsurance Arrangements Between Takaful […]
₦5 Billion ‘AgroCity Doma’ Takes Off in Nasarawa: LBRBDA, Amisec Partner to Establish 1,000-Hectare Organic Sesame Value Chain In a major boost to agricultural industrialisation in Nigeria, the Lower Benue River Basin Development Authority (LBRBDA) and Amisec Industrial Company Limited have finalised a Public-Private Partnership (PPP) agreement to establish “AgroCity Doma,” a landmark project located […]
Kwara Creative Economy Booms as Sugar Factory Film Studios Unveils Maiden Movie ‘Ajuwaya Series’ with N350m First Lady Grant Kwara State Governor AbdulRahman AbdulRazaq is elated over the successful unveiling of the maiden movie, “Ajuwaya Series,” produced by the state-owned Sugar Factory Film Studios. The Governor hailed the project as a major milestone for the […]
Nigeria’s NDLEA and Experts Engage in Critical Dialogue Over Medicinal Cannabis Oil Legalisation A high-level stakeholders’ workshop in Abuja, organised by the Nigerian Academy of Science (NAS), has brought the contentious issue of legalising cannabis oil for therapeutic use into sharp focus, with regulatory bodies and scientists engaging in an evidence-based dialogue. The workshop, themed […]
Cooking Gas Price Hits ₦25,000 in Kano as Scarcity and Supply Disruptions Spark Household Crisis Households and small businesses in the Kano metropolis are grappling with a severe energy crisis as the price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, has skyrocketed amid an acute scarcity. The cost of refilling a standard […]
Supreme Court Backs Lagos as State Defends Trade Fair Demolition of ‘Illegal’ Structures The Lagos State Government has vehemently defended its recent large-scale demolition of over 19 plazas and buildings at the International Trade Fair Complex in Ojo, insisting the action is entirely legal, technically justified, and not driven by ethnic or political vendetta. The […]
FORMER CBN GOVERNOR SANUSI II DEMANDS MANDATORY 50% GENDER QUOTA FOR NEW BANK RECRUITS The former Governor of the Central Bank of Nigeria (CBN) and respected traditional leader, Muhammadu Sanusi II, has issued a powerful challenge to the nation’s financial institutions, demanding the immediate adoption of mandatory gender quotas to end the systemic exclusion of […]
Domestic Investors’ Activity on NGX Crashes by N932 Billion in August Trading activities at the Nigerian Exchange Limited (NGX) experienced a dramatic slump in August, primarily driven by a sharp contraction in transactions executed by domestic investors. Data released by the NGX revealed that domestic investors significantly scaled back their participation by a staggering N932.48 […]
FG Pledges Tough Measures to Eliminate Fake Seeds, Targets High-Quality Produce to Meet Global Export Standards The Federal Government has announced a decisive plan to overhaul the seed value chain, vowing to implement tougher regulatory measures to eradicate the circulation of fake seeds and ensure Nigeria’s agricultural produce is competitive on the global stage. This […]
Tinubu Vows Nigeria is Ready to Partner with Credible Global Investors, Targets Large-Scale Investments in Oil, Gas, and Critical Infrastructure President Bola Tinubu has intensified his administration’s push for foreign and diaspora investment, announcing that Nigeria is fully prepared to partner with credible global investors to unlock major economic opportunities, particularly in the oil, gas, […]
Fuel Costs and Poor Regulatory Enforcement Undermine Construction Sector’s Growth, Driving Up Project Expenses and Causing Market Uncertainty The sustainability and growth of Nigeria’s vital construction industry are being severely stifled by the dual pressures of escalating fuel costs and a weak regulatory environment, according to industry experts. The combination is driving up the cost […]
PENGASSAN Assures Nigerians of Steady Petrol Supply Despite Nationwide Strike Declaration, Directs Total Shutdown of Dangote Refinery Operations The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has moved to allay public fears of a looming fuel scarcity, assuring Nigerians that its scheduled nationwide strike will not disrupt the supply of Premium Motor […]
Abuja-Kaduna Train Resumes October 1 After Derailment, Corporation Releases New Timetable The Nigerian Railway Corporation (NRC) has officially announced the resumption of passenger services on the busy Abuja-Kaduna rail corridor, with operations scheduled to recommence on Wednesday, October 1. The train service had been temporarily suspended since the derailment incident that occurred on August 26 […]
Kaduna Launches Vocational Institute to Train 32,000 Graduates Annually, Prioritising 80% Practical Exposure In a robust effort to combat unemployment and cultivate a highly skilled workforce, the Kaduna State Government has announced ambitious plans to train and graduate about 32,000 learners yearly through its newly launched Institute of Vocational Training and Skills Development. The Institute, […]