PenCom to sanction PFAs as only 17% of RSA holders recaptured
By Rosemary Iwunze The National Pension Commission (PenCom) has threatened to sanction Pension Fund Administrators (PFAs) that fail to meet prescribed targets under the ongoing Retirement Savings Account (RSA) data recapture exercise. PenCom, in its first-quarter 2026 report, disclosed that only 17.03 per cent of the industry’s legacy RSA holders had completed the mandatory data recapture […]
NIWA warns operators against overloading barges on Lagos waterways
By Cynthia Alo The National Inland Waterways Authority, NIWA, has warned cargo barge operators against the dangerous practice of overloading containers beyond approved limits, saying the trend poses a serious threat to safety on Lagos inland waterways. Speaking at the 2026 Shipping Correspondents Association of Nigeria’s (SCAN) Dockworkers’ Day in Lagos, the Lagos Area Manager, […]
AfCFTA targets $250bn intra-African trade
•Lauds Lagos on industrial, digital transformation By Emeka Anaeto The Secretary-General of the African Continental Free Trade Area (AfCFTA), Wamkele Mene, has disclosed that the continental trade bloc is on course to achieve an annual intra-African trade volume of $250 billion in the current year, up from $220 billion recorded in 2025. This is even as […]
Nigeria’s trade surplus rises 91% to N7.55trn in Q1’26
By Progress Godfrey Nigeria recorded a 91 per cent, year-on-year, YoY increase in trade surplus to N7.55 trillion in the first quarter of 2026, Q1’26 from N3.95 trillion in the same period of 2025, Q1’25, driven by a sharp decline in imports and a modest rise in exports. The National Bureau of Statistics (NBS) disclosed this yesterday in […]
Foreign investment in manufacturing slumps 50.7% to $152m in Q1’26
By Yinka Kolawole Foreign investment into Nigeria’s production and manufacturing sector declined sharply by 50.7 percent quarter-on-quarter to $152.27 million in the first quarter of 2026 (Q1’26), down from $308.93 million recorded in the preceding quarter (Q4’25), according to the latest Capital Importation Report released by the National Bureau of Statistics (NBS). The report revealed that […]
FG, 6 states woo investors at ‘Invest in Lagos 3.0’ Summit
The Federal Government and six state governments have urged investors at the ongoing Invest in Lagos 3.0 Summit to channel funds into critical sectors, promising attractive returns and improved business conditions. The summit, themed “Lagos: The Business Gateway to Africa,” featured presentations from representatives of the Presidency and the governors of Lagos, Imo, Abia, Plateau, Taraba […]
