Eastern Ports Rehabilitation: FG awards Escravos Channel dredging, breakwater reconstruction
As part of efforts to revitalize the Eastern ports, the Federal Government, through the Nigerian Ports Authority (NPA), has awarded the contract for the reconstruction of the dilapidated Escravos Channel at Warri Port, Delta State. Confirming the development, Mr. Ikechukwu Oyenmakara, General Manager of Corporate and Strategic Communication at the Nigerian Ports Authority, stated that […]
Porsche warns of tough year ahead after torrid 2025
Sports car-maker Porsche warned Wednesday of a tough year ahead after its profit virtually vanished in 2025 amid cut-throat competition in China, a costly pivot back to petrol cars and US tariffs.
Sugar Production: NSDC, BOI establish N10bn fund for greenfield projects
By Babajide Komolafe The National Sugar Development Council (NSDC) and the Bank of Industry (BOI) have established a N10 billion Sugar Project Acceleration Fund (SPAF) to support the development of greenfield sugar projects across the country. The fund is designed to provide financing and project development support to viable greenfield initiatives, with the aim of accelerating […]
FG flags off $500m World Bank-funded SPIN project to boost food production, power
By Gabriel Ewepu The Federal Government on Tuesday flagged off the $500 million World Bank-funded Sustainable Power and Irrigation for Nigeria (SPIN) Project aimed at accelerating food production and increasing power generation. Minister of Water Resources and Sanitation, Engr. Joseph Utsev, who performed the flag-off in Abuja, said the project is a strategic intervention designed to […]
Nigeria’s trade surplus slumps 121% to N1.7trn in Q4’25
•Annual trade surplus rises 5.3% to N17.8trn By Elizabeth Adegbesan & Progress Godfrey Nigeria recorded a 121 per cent, year-on-year (YoY) decline in trade surplus to N1.71 trillion in the fourth quarter of 2025, from N3.42 trillion in the same period of 2024. Similarly, on a quarterly basis, the country’s trade surplus fell by 71 percent, Quarter-on-Quarter […]
Nigeria’s non-oil exports to EU lag at 10% despite $21.87bn trade— NEPC
By Progress Godfrey The Nigerian Export promotion Council (NEPC) has urged agro-exporters to tap the European Union’s over 400 million-strong consumer market, warning that non-oil exports account for only 10 percent of total trade with the bloc despite a $21.87 billion trade volume in 2024. Executive Director and CEO of NEPC, Mrs Nonye Ayeni, made the […]
