Experts divided over CBN’s 3% interest rate slash
Mixed reactions yesterday trailed the Central Bank of Nigeria, CBN’s cut on interest rate by three per cent, as the Monetary Policy Rate, MPR, was reduced from 26.5 per cent to 23 per cent.
Manufacturers sell below production cost to offload N2trn unsold inventory
By Yinka Kolawole Manufacturers in Nigeria are increasingly selling products below production cost in a desperate bid to clear nearly N2 trillion worth of unsold inventory, underscoring the severe cost pressures and weak consumer demand confronting the country’s industrial sector. Findings by the Manufacturers Association of Nigeria (MAN) show that while manufacturers have recorded modest improvements […]
Outgoing CIIN President attributes successful tenure to flagship initiative
By Rosemary Iwunze The outgoing President of the Chartered Insurance Institute of Nigeria, CIIN, Mrs. Yetunde Ilori, has said that her flagship initiative, tagged ‘EPIC’, succeeded in bridging the critical knowledge gap between insurance practitioners and consumers. Ilori stated that EPIC, which stands for Education, Professionalism, Institutional Recognition and Capacity Building, contributed in driving financial […]
Stanbic IBTC, Abia State partner to deepen MSME growth
By Peter Egwuatu Stanbic IBTC Bank has affirmed its commitment to accelerating the growth of Micro, Small and Medium Enterprises (MSMEs) across Nigeria through strategic partnerships with state governments and institutions committed to creating enabling environments for businesses to thrive. The bank made this commitment during its Nigeria Business Summit Regional Tour held in Aba, in […]
Nigeria, Benin Customs strengthen border security with geospatial tech
By Godwin Oritse The Nigeria Customs Service (NCS) and its counterpart in the Republic of Benin have strengthened their partnership on the deployment of geospatial technology to enhance economic security, improve border surveillance, and facilitate legitimate trade along their shared border corridor. The collaboration was highlighted during a meeting held at the ECOWAS Conference Hall, Seme-Krake […]
POWER FAILURE: Nigeria loses 3,100 GWh to gas flaring
•NUPRC, NOSDRA disagree on volume By Ediri Ejoh There are indications that the Federal Government’s ambition to transform Nigeria into a gas-driven economy by 2030 is facing significant challenges, as the country lost an estimated 3,100 gigawatt-hours (GWh) of electricity generation potential to persistent gas flaring by oil companies in May 2026. This came as figures […]
