Imports choke textile industry, rise to N1.1trn in two years
Nigeria’s dependence on imported textile materials has almost tripled with importation surging by 181 per cent in two years to N1.08 trillion in 2025 from N377.47 billion in 2023, despite repeated efforts to revive the oncethriving local textile industry.
Banks’ deposits rise 670% to N83.95trn
•As borrowings drop By Elizabeth Adegbesan Banks’ deposits in the Central Bank of Nigeria, CBN, Standing Deposit Facility, SDF, recorded a sharp increase by 670.2 percent year-on-year (YoY) to N83.95 trillion in July 2026 from N10.9 trillion in July 2025. On the other hand banks’ borrowing from the apex bank’s Standing Lending (SLF) fell by 82 […]
WACT-APM Terminals expands awards scholarships awards, 52 more beneficiaries added
By Godwin Oritse West Africa Container Terminal (WACT)-APM Terminals Nigeria has expanded its educational support initiative with the award of scholarships to 52 new beneficiaries, comprising 47 students from its host communities and 5 children of employees, bringing the total number of beneficiaries under the WACT Scholarship Scheme to 193.The scholarship award ceremony, held on […]
Soludo: Delta, Anambra should become Nigeria’s twin growth hubs
*Calls for post-summit investment partnerships*Proposes dress code for future investment summits to drive jobs By Babajide Komolafe, Economy Editor & Egufe Yafugborhi, Ochuko Akuopha ASABA—Governor Chukwuma Soludo of Anambra State has called for deeper economic collaboration between Delta and Anambra states, describing both as natural “twin growth hubs” capable of driving regional prosperity, while urging […]
Oyedele: Delta must turn oil wealth into prosperity
…Says execution, not resources, creates wealth By Babajide Komolafe, Economy Editor & Egufe Yafugborhi, Ochuko Akuopha ASABA— Minister of Finance and Coordinating Minister for the Economy, Mr. Taiwo Oyedele, Monday, challenged Delta State to convert its abundant natural resources into sustainable prosperity, stressing that wealth is created through sound execution rather than the mere possession […]
Elumelu backs Delta as investment destination, seeks power sector partnership
By Babajide Komolafe, Economy Editor & Egufe Yafugborhi, Ochuko Akuopha Chairman of Heirs Holdings, Mr. Tony Elumelu, has endorsed Delta State as one of Nigeria’s emerging investment destinations, declaring that the state is ready for profitable investments while calling for a partnership with the state government to unlock its huge power potential. Speaking at the […]
