The Federal Government on Thursday signed agreements with ten companies for the construction of gas processing plants and other gas supply infrastructures. The joint venture investment agreements were signed in Abuja between the Midstream and Downstream Infrastructure Fund (MDIF) and the 10 gas infrastructure promoters. The agreements include the Joint Venture and Operating Agreement, the Joint […]

By Peter Egwuatu   The Securities and Exchange Commission (SEC) has renewed warning on the dangers of Ponzi schemes, highlighting their devastating impact on investor confidence, financial stability, and the Nigerian capital market.  This was the central theme of a paper titled “Ponzi Schemes: Avoiding the Pitfalls of Illegality” presented by Head of the Enforcement Department of […]

By Emma Ujah,  Abuja Bureau Chief The Federal Government (FG) has clarified its 2024-2026 External Borrowing Plan submitted to the National Assembly on Tuesday, saying that it was essential for the implementation of the 2024-2026 Medium Term Economic Framework (MTEF). The Federal Ministry of Finance said in a statement yesterday that the borrowing plan was for the […]

By Elizabeth Adegbesan Nigeria’s Money  Supply (M2) increased by 4.2 percent month-on-month, MoM, to N119.1 trillion in April 2025 from N114.2 trillion in March 2025. This is coming on the back of the Central Bank of Nigeria, CBN, Monetary Policy Committee, MPC, decision to retain the Monetary Policy Rate, MPR, at 27.5 percent for the […]

By Yinka Kolawole The Federal Inland Revenue Service (FIRS) has assured operators in the manufacturing sector of data confidentiality under the electronic invoicing (e-invoicing) initiative. Acting Director of Tax Automation at FIRS, Mike Adoga, gave the assurance during a stakeholder engagement session with players in the manufacturing sector in Lagos. Adoga said the tax agency is […]

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 […]