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 […]

THE Nigerian Engineering Olympiad (NEO) has selected 30 standout innovation teams to advance to the regional phase of its national competition, marking a key milestone in a 10-month initiative aimed at transforming academic research into commercially viable and sustainable enterprises. Chosen from 375 submissions, the teams represent Nigeria’s emerging generation of engineers, with five projects […]

The Federal Government, FG, has announced plans to establish a national cybersecurity coordination council to strengthen Nigeria’s capacity to fight growing cyber threats. In a statement the Federal Ministry of Communications, Innovation and Digital Economy said the proposed council will serve as a multi-stakeholder platform to enhance coordination, information sharing, and collaboration across public and […]