Stanbic IBTC, Abia State partner to deepen MSME growth
By Peter Egwuatu Stanbic IBTC Bank has affirmed its commitment to accelerating the growth of Micro, Small and Medium Enterprises (MSMEs) across Nigeria through strategic partnerships with state governments and institutions committed to creating enabling environments for businesses to thrive. The bank made this commitment during its Nigeria Business Summit Regional Tour held in Aba, in […]
FG indebtedness to GENCOs to hit N6.4trn by 2025
By Ediri Ejoh There are indications that the Federal Government indebtedness to the power sector would hit N6.4 trillion by the end of 2025 from the current N6 trillion earlier reported in October, indicating an increase of 6.25 per cent. This came as investigation revealed that the debts which included legacy debt was incurred between 2015 […]
UBA partners CIG Motors, Lagride, launches $100m vehicle financing scheme
By Babajide Komolafe United Bank for Africa (UBA) Plc, has announced a $100 million financing partnership scheme with CIG Motors, Lagride and Lagos State Government, aimed at redefining urban mobility and promoting financial inclusion in Nigeria. By the partnership, tagged “Drive to Own”, UBA will be the key financier, offering loan subscriptions that will allow […]
Fish output jumps to 1.4m tonnes as FG intensifies blue economy push
By Folarin Kehinde, Abuja Nigeria’s local fish production has increased to 1.4 million metric tonnes from 1.1 million metric tonnes this year, signalling renewed momentum in the Federal Government’s drive to boost domestic output, cut imports and strengthen food security. Minister of Marine and Blue Economy, Adegboyega Oyetola, disclosed this in Abuja at the 4th Quarter […]
Customs imposes 3% fine on banks for late revenue remittance
By Godwin Oritse The Nigeria Customs Service (NCS) has imposed a three per cent penalty on Designated Banks that fail to remit collected revenue within the stipulated timelines, following the discovery of lapses in remittances processed on its B’odogwu platform. The Service said reconciliation of transactions revealed delays by some banks in transferring revenues due to […]
Lekki Port hits 50% capacity milestone amid strong cargo growth
By Godwin Oritse The management of Lekki Deep Seaport has disclosed that the port now operate at close to 50 per cent of its trade capacity, with steady month-on-month growth in container throughput since September, 2025. This is just as a recentlt released data from Nigeria’s “Trade by Top 10 Posts/Ports of Operation,” between first […]
