By Cynthia Alo The Nigerian Institute of Training and Development (NITAD) has unfolded plans to upscale its institutional capacity to enhance national economic development and growth. The plans, which were revealed at the Institute’s annual general meeting held in Abuja, was anchored on the belief that only well trained workforce can actualise Nigeria’s dream of joining […]

By Yinka Kolawole, with agency report At the backdrop of growing global financial market volatility, the African Development Bank (AfDB) has projected that the naira will depreciate by at least 6% between 2025 and 2026. The projection was revealed in the African Economic Outlook 2025 published by the bank, highlighting the impact of global uncertainty on […]

By Emma Ujah & Elizabeth Adegbesan   The Debt Management Office,  DMO, yesterday said that the Series VII Sukuk bond  through which it offered N300 billion, on behalf of the Federal Government of Nigeria (FGN), recorded over  N2.205 trillion subscriptions, representing an excess of 635 percent. FG’s domestic borrowings are executed on bonds including Sukuk, a Sharia […]

By Elizabeth Adegbesan   The Central Bank of Nigeria,  CBN, has introduced three non-interest financial instruments with the aim of deepening the non- interest financial markets.   The non-interest financial instruments consist of the  deployment of the Nigerian Non-Interest Financial Institutions’ Master Repurchase Agreement (NNMRA), The Commencement of Auction of the CBN Non-Interest Asset-Backed Securities (CNI-ABS) and CBN Non-Interest […]

President Bola Ahmed Tinubu, has met with the Director-General and Global Liaison of the Nigeria-China Strategic Partnership (NCSP), Mr. Joseph Tegbe, at the Presidential Villa for a high-level briefing on the current state of the comprehensive strategic partnership between Nigeria and the People’s Republic of China. During the meeting, Mr. Tegbe provided an update on the […]

By Obas Esiedesa, Abuja In a significant move to enhance power transmission infrastructure nationwide, the Nigerian Electricity Regulatory Commission (NERC) has established a Transmission Infrastructure Fund (TIF), to be financed through a N2.17/kWh charge on energy consumed by electricity customers. According to the May 2025 Multi-Year Tariff Order (MYTO) released on Tuesday, the TIF will support […]

•As price declines 6% to $78.9/b •Defies 23% rise in output   By Babajide Komolafe   Nigeria’s revenue from crude oil export fell by 17 per cent in the first   two months of the year to $6.68 billion driven by lower price of the commodity. Vanguard analysis of data on   crude oil exports   earnings from the monthly economic […]

•Targets $7m daily revenue through fertilizer export   By Godwin Oritse   The Nigerian Ports Authority (NPA) and Dangote Industries Limited (DIL) have concluded plans to develop the nation’s Marine and Blue Economy sector, with plans to ensure expansion of   export operations. Speaking yesterday  during a courtesy call to the NPA headquarters in Lagos, President of the Dangote […]

By Emeka Anaeto, Business Editor   The Central Bank of Nigeria (CBN) recently launched the Non-Resident Biometric Verification Number (NRBVN) platform in Abuja. Developed in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS), NRBVN marks a significant milestone in Nigeria’s financial inclusion journey and symbolizes the apex bank’s commitment to innovation, inclusive growth and economic integration for Nigeria’s […]

By Godwin Oritse   The Nigerian Customs Service, NCS, in partnership with the Federal Ministry of Industry, Trade and Investment, has officially launched the inaugural Nigeria–East/Southern Africa Air Cargo Corridor, a significant step towards enhancing regional trade and deepening integration under the African Continental Free Trade Area (AfCFTA). Speaking at the   commissioning ceremony,   Comptroller-General of Customs, Adewale […]

The Federal Government has begun a review of Nigeria’s trade and investment strategies along with infrastructure planning with a view to boosting the nation’s economic competitiveness. The review was done at an Economic Management Team (EMT) session which was chaired by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, in […]

By Peter Egwuatu Stock market sentiment  returned negative last week, buoyed by investors’ reaction to the Central Bank of Nigeria, CBN’s, decision to maintain the Monetary Policy Rate at 27.5%. The reversal also came with profit-taking in stocks that may have recorded outstanding performance as well as a shift in capital flows toward the fixed income […]

By Yinka Kolawole The Manufacturers Association of Nigeria (MAN) has expressed deep concerns regarding the unwholesome treatment of its members by some commercial banks regarding unmet foreign exchange (FX) forward obligations. FX forward obligations are binding contracts to exchange currencies at a predetermined rate on a future date, used to hedge against fluctuating exchange rates. These […]

The Federal Government is set to establish industrial hubs in four States of the federation as part of strategies to drive economic transformation and industrialisation across the country.  Minister of State for Industry, Senator John Enoh,  who disclosed this during the 16th National Council on Industry, Trade, and Investment recently held in Lagos, with the theme […]

…Excited over payout By Peter Egwuatu   Shareholders of TotalEnergies Marketing Nigeria Plc have commended the Board of Directors for declaring N40.00 per share dividend payout, which translates to a total dividend of N13.58 billion for the financial year ended December 31 2024. The shareholders, at the Company’s 47th Annual General Meeting, AGM held in Lagos,  also […]