The Minister of State for Industry, Senator John Owan Enoh, has tasked the management of the Dangote Group of Companies on the need to expand the annual production capacity of its subsidiary, the Dangote Sugar Refinery (DSR), to 600,000 metric tonnes by the year 2030.    The Minister, accompanied by the Executive Secretary of the National Sugar […]

By Peter Egwuatu Energia Limited has announced the appointment of Oladimeji Bashorun as its Chief Executive Officer (CEO), following the vacancy created by the exit of Mr. Chidi Egonu. Bashorun, who previously served as the company’s Chief Operating Officer (COO), steps into the role following years of providing strategic and operational leadership within the organisation. […]

By Jeremiah Urowayino Trade experts and thought leaders from across the African continent have said Africa has a role in shaping the World Trade Organisation, WTO, reform, noting that the world is at a critical juncture for the multilateral trading system. They said this while launching the Africa Trade Policy Working Group, ATP Working Group, […]

By Elizabeth Adegbesan Consumers have expressed pessimism on the macroeconomy, first time since November 2025, as their overall sentiment stood at -10.3 index points in March compared to 0.8 index point in February. The Central Bank of Nigeria (CBN) disclosed this yesterday in its March 2026 Household Expectation Survey Report. “The Overall Consumer Sentiments in March […]

By Cynthia Alo Wema Bank has declared that it would sustain its impressive financial performance and business growth momentum in the coming years on the heels of its 2025 financial results. Commenting on the remarkable performance, the bank’s Managing Director/Chief Executive Officer, Moruf Oseni, also said the bank would continue to deliver superior value to all […]

By Yinka Kolawole,  with agency report The World Bank has downgraded Nigeria’s economic growth projection to average of 4.1 percent in 2026. In October 2025, World Bank  projected  Nigeria’s economy  will grow by 4.4 percent  in 2026 and 2027. The bank also downgraded the projection for 2027 to 4.2 percent, while the growth forecast for 2028 […]

By Godwin Oritse & Cynthia Alo The Nigeria Customs Service (NCS), in partnership with the Presidential Enabling Business Environment Council (PEBEC), has unveiled a results-driven reform agenda aimed at improving port operations and strengthening Nigeria’s trade competitiveness. The initiative was unveiled at the opening of a three-day operational workshop held in Apapa, Lagos on the theme […]

By Udeme Akpan The price of Nigeria’s Bonny Light crude has dropped by 14.2 per cent to $94.41 per barrel from $110 per barrel on Tuesday in the global oil market, following the announcement of a two-week ceasefire by Donald Trump. Iran also indicated it would ensure the safe passage of oil tankers through the Strait of […]

•Orders insurers to contribute 0.25% of net premium income  By Rosemary Iwunze  The National Insurance Commission (NAICOM) has unveiled the Insurance Policyholders’ Protection Fund (IPPF), mandating all insurance and reinsurance companies to contribute to the scheme as part of efforts to safeguard policyholders and strengthen industry stability. Under the new directive, insurers are required to remit […]

•Apex bank affirms lender remains strong, stable FRESH details have emerged regarding the circumstances that led to the regulatory intervention in Union Bank of Nigeria (UBN), with a forensic audit report alleging wide-ranging financial irregularities under the bank’s former owners and directors. The Central Bank of Nigeria (CBN) had in January 2024 dissolved the bank’s board […]

By Jeremiah Urowayino In an era where energy security and responsible growth are shaping global priorities, Alfred Temile has distinguished himself as one of the quiet but decisive forces advancing Africa’s participation in the international gas value chain. As Chief Executive Officer of Temile Development Company, he leads one of the few fully indigenous African firms […]

By Gabriel Ewepu IN a bid to reposition Nigeria as a global leader in palm oil production, the National Palm Produce Association of Nigeria, NPPAN, weekend, disclosed massive oil palm cultivation and plantations in northern Nigeria will soon commence. The President, NPPAN, Dr Alphonsus Inyang, made the disclosure while speaking on the ‘Validation Meeting of the […]

By Yinka Kolawole Flutterwave Inc., a payments technology company, said it has secured a banking licence which will enable the company  hold funds and deposits directly. Olugbenga Agboola, founder and Chief Executive Officer (CEO) of the firm, announced the development in a statement. He said, “By operating with direct infrastructure, we can streamline our operations and […]

By Seth Ukochukwu The Lagos Development Update, LEDU, 2026 report has projected significant expansion in the state’s economy, with nominal Gross Domestic Product (GDP) expected to rise to N73.15 trillion this year from N62.66 trillion in 2025, supported by easing inflation, stronger consumption, and improved revenue mobilisation. Speaking at the presentation of the report, Commissioner, Ministry […]

By Yinka Kolawole The Manufacturers Association of Nigeria (MAN) has warned that the unfolding geopolitical tensions in the Middle East poses immediate, severe and multifaceted risks to Nigeria’s manufacturing sector, while outlining urgent pathways to safeguard industry operators. Director General of MAN, Segun Ajayi-Kadir, in a statement, said the sector is already grappling with the ripple […]