Customs, agents disagree over National Single Window operations
By Godwin Oritse & Efe Onodjae There are indications of festering disagreements over the implementation of the National Single Window (NSW), a centralized digital portal launched by the Federal Government in March this year to address delays in import-export processing at the ports. It allows importers and exporters to submit trade documents once, replacing duplicate paperwork […]
First LNG-powered containership berths at APM Terminals Apapa
By Godwin Oritse APM Terminals Apapa, Nigeria’s largest container terminal, marked a significant milestone with the arrival of “Kota Oasis”, the first liquefied natural gas (LNG)-powered containership to visit West Africa. The vessel, measuring 260 meters in length and 46 meters in width with a gross tonnage of 77,850, sails under the Singaporean flag owned by […]
Nigeria’s Bonny Light hits $76.60 per barrel
…as Israel-Iran hostility continues By Udeme Akpan, Energy Editor THE price of Nigeria’s Bonny Light, yesterday, rose to $76.60 per barrel from $73 per barrel at the backdrop of the continued hostility between Israel and Iran. The global oil market responded, especially as the strike damaged some facilities at the Iran’s Pilot Fuel Enrichment Plant, thus fuelling […]
Wilmar International buys out PZ Cussons in $70m deal
By Peter Egwuatu Wilmer International Limited has agreed to acquire PZ Cussons Plc’ s 50% stake in PZ Wilmar for cash consideration of $70 million deal. This move would lead to the exit of PZ Cussons Plc from the Nigerian palm oil business it co-founded in 2010. The transaction, which is subject to regulatory approvals, […]
CNG: FG secures agreement for additional 20mscf gas supply
By Obas Esiedesa, Abuja The Federal Government on yesterday disclosed that it has reached an agreement with gas companies for the supply of an additional 20 million standard cubic feet (mscf) of gas to meet the growing demand for Compressed Natural Gas (CNG) by vehicle owners. As part of its broader strategy, the government said it […]
Insecurity, global tensions could push up food prices, LCCI warns
The Lagos Chamber of Commerce and Industry, LCCI has warned that the ongoing global tensions and rising incidence of herdsmen-farmers clashes could lead to further rise in food prices. The Director-General of the LCCI, Dr Chinyere Almona, made this call on Tuesday in Lagos, responding to the May inflation figure of 22.97 per cent. According to […]
Fuel scarcity looms as marketers, truck owners boycott Lekki-Epe corridor
•Protest imposition of e-call up levy By Udeme Akpan THERE were fears over a possible occurrence of fuel scarcity, yesterday, following a coordinated boycott by petroleum marketers and truck owners protesting against the Lagos State Government’s enforcement of a controversial N12, 500 e-call-up levy on trucks operating along the Lekki-Epe corridor. Members of the Independent Petroleum Marketers […]
Fuel scarcity looms as marketers, truck owners boycott Lekki-Epe corridor
There were fears of a possible fuel scarcity yesterday, following a coordinated boycott by petroleum marketers and truck owners protesting against the Lagos State Government’s enforcement of a controversial N12,500 e-call-up levy on trucks operating along the Lekki-Epe corridor.
CBN issues routine transitional guidance to select banks
The CBN said that the step was part of its broader, sequenced strategy to implement the recapitalisation programme announced in 2023.
Investors suffer ₦183bn loss on NGX
The Nigerian Exchange Ltd. (NGX) saw its market capitalisation fall to ₦72.497 trillion from ₦72.680 trillion recorded on Monday.
Fresh fears over N54.99trn budget as OPEC puts Nigeria’s oil output at 1.544m bpd — OPEC
…Oil price hovers at $73 per barrel By Udeme Akpan, Energy Editor THE Organisation of Petroleum Exporting Countries, OPEC, yesterday, put Nigeria’s crude oil output, excluding condensate, at 1.544 million barrels per day, bpd in May 2025. This showed a marginal increase of 1.44 per cent from 1.522 million bpd recorded in April 2025. In […]
Pension funds investment in FG securities rise 18.7% to N14.4trn
By Peter Egwuatu The Pension Fund’s investments in Federal Government (FG) Securities rose by 18.7% Year-on-Year, YoY, in the first quarter 2025, Q1’25 to N14.48 trillion from N12.20 trillion in the corresponding period of 2024, Q1’24. This was disclosed in the latest pension funds industry portfolio report from the National Pension Commission, PenCom, detailing activities […]
Digitisation across sectors key to unlocking Nigeria’s AI future — Microsoft, PwC, LBS
By Providence Ayanfeoluwa To fully harness the potential of Artificial Intelligence, AI, Nigeria must prioritise digitisation across sectors, generating a comprehensive dataset to drive innovation. This is one of the key findings from Microsoft’s new white paper, “AI in Nigeria”, commissioned by Microsoft and conducted by PwC and Lagos Business School (LBS). The report explores […]
Borno, Bayelsa, Taraba record highest rise in food inflation rate
…as inflation rate eases second consecutive month to 22.97% By Elizabeth Adegbesan The National Bureau of Statistics, NBS, yesterday, said Borno, Bayelsa and Taraba States recorded the highest year-on-year,YoY, rise in the rate of increase in prices of food commodities in May 2025. NBS disclosed this in its Consumer Price Index, CPI, Report for May […]
World Bank says FDI into developing countries now at lowest level since 2005
The World Bank urged for stronger global cooperation to help direct funding towards developing economies with the biggest investment gaps.
FG invests $50m in impact fund to boost MSMEs, job creation
By Yinka Kolawole The Federal Government, FG, has announced a $50 million investment in the Nigeria Wholesale Impact Investment Fund (WIIF), aimed at unlocking significant financing for micro, small, and medium enterprises (MSMEs) and generating jobs across priority sectors . The Federal Ministry of Finance stated this in a post on X, noting that the investment […]
