W/Bank mobilises $5.79bn private capital for Nigeria
By Emma Ujah, Abuja Bureau Chief The World Bank Group has said it is helping to mobilise $5.79 billion in private capital for investment in Nigeria’s agriculture, telecommunications and micro, small and medium enterprises (MSMEs), in a major push to expand private-sector participation in the economy. The financing drive is being supported by policy reforms, […]
Banks’ deposits with CBN soar 783% to N79.8trn
By Elizabeth Adegbesan Banks’ deposit with the Central Bank of Nigeria, CBN, rose sharply by 783.7 percent, year-on-year, YoY, to N79.8 trillion in the first seven months of the year (7m’25) from N9.03 trillion in the corresponding period of 2024 (7m’24), indicating excess liquidity in the banking system. CBN has two short term lending windows for banks, […]
PETROAN faults NNPCL on non-privatisation of Port Harcourt refinery
By Yinka Kolawole, with agency report The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) has faulted the decision of the Nigerian National Petroleum Company Limited (NNPCL) not to privatise the Port Harcourt Refining Company (PHRC). In a statement, PETROAN’s spokesperson, Joseph Obele, expressed the association’s disappointment with the decision by NNPCL to retain the refinery […]
Stakeholders canvass for sustainable development of mineral sector
By Udeme Akpan Spaces for Change (S4C), Nigeria Extractive Industries Transparency Initiative (NEITI), National Oil Spill Detection and Response Agency (NOSDRA), and other stakeholders have called for a sustainable development of Nigeria’s mineral sector with increased participation of host communities. The stakeholders made the call at the ongoing National Extractive Dialogue 2025 (NED) with the theme, […]
Nigeria spends N146 billion to import motorcycles in Q1’25
By Elizabeth Adegbesan Nigeria spent N146.11 billion on motorcycle importation in the first quarter of this year (Q1″25). According to the National Bureau of Statistics, NBS, Foreign Trade in Goods Statistics for the review period, the Q1’25 figure represents a N28 billion or 24.4 percent year-on-year (YoY) increase when compared to N117.4 billion spent in the […]
How we intend to boost lending, financial inclusion in Nigeria – NCGC boss
By Emeka Anaeto, Business Editor Amidst ongoing efforts to increase access to credit for more Nigerian businesses and individuals, the leadership of the National Credit Guarantee Company, NCGC, has said that it is now ready to de-risk lending across Nigeria’s financial markets. Speaking at the inaugural stakeholders’ engagement forum in Lagos, Managing Director of NCGC, Mr. […]
