Business Archives - Page 9 of 23

Africa trade policy group appoints Ese Owie as convenor in global influence push

April 10, 2026

The Africa trade policy group has appointed Ese Owie as its convenor, as trade experts and policymakers across the continent push to strengthen Africa’s influence in global trade governance. The announcement was made during the launch of the Africa Trade Policy Working Group on the sidelines of the World Trade Organization’s 14th Ministerial Conference in...

Policyholders protection fund unveiled as NAICOM mandates contributions

April 8, 2026

The policyholders protection fund has been unveiled by the National Insurance Commission, with a directive requiring all insurance and reinsurance companies in Nigeria to contribute to the scheme. The initiative is designed to safeguard policyholders and strengthen stability within the insurance sector. Under the new framework, insurers are mandated to remit 0.25 percent of their...

US Iran conflict impact threatens Nigerian manufacturers, MAN warns

April 6, 2026

The US Iran conflict impact is creating significant pressure on Nigeria’s manufacturing sector, with the Manufacturers Association of Nigeria warning of rising production costs and weakening consumer demand. The association outlined urgent measures to cushion the effects of the ongoing geopolitical crisis on local industries. Director-General of the Manufacturers Association of Nigeria, Segun Ajayi-Kadir, stated...

World Bank approves $500m credit for Nigeria’s smallholder farmers

April 3, 2026

Federal Ministry of Finance announced on Friday that the World Bank approves $500m credit for Nigeria to expand support for smallholder farmers and strengthen agricultural value chains. The financing is aimed at addressing critical gaps in productivity, market access and rural financial inclusion. The approval comes from the International Development Association (IDA), the concessional lending...

NSIA infrastructure funding set to boost power and ports projects

April 3, 2026

The NSIA infrastructure funding initiative aims to support major power, ports, and transport projects across Nigeria. The Nigeria Sovereign Investment Authority (NSIA) said the initiative will mobilise private capital for large-scale infrastructure. NSIA Managing Director Aminu Umar-Sadiq explained that the programme will operate through the Nigeria Infrastructure Finance Guarantee Platform (NIFGP), designed to de-risk investments...

Pension investment consortium proposed to tackle infrastructure gap

April 2, 2026

Nigeria’s pension industry has proposed the creation of a pension investment consortium to mobilise long-term capital for infrastructure development and address the country’s widening funding gap. The proposal was presented by industry stakeholders as part of ongoing discussions on improving the role of pension funds in national economic development. The initiative is designed to pool...

Africa illicit flows cost $88bn yearly, Edun urges urgent action

April 1, 2026

Nigeria’s Finance Minister, Olawale Edun, has called for urgent measures to address Africa illicit flows, which cost the continent an estimated $88 billion annually. Speaking at the Fifth Sub‑Committee on Tax and Illicit Financial Flows of the African Union, Edun described these outflows as a significant barrier to economic growth and public development. The event, held...

Satellite plan execution begins ahead of 2028, 2029 launches

March 31, 2026

New satellite plan execution has commenced as the Federal Government advances Nigeria’s next communication satellite programme, with launches scheduled for 2028 and 2029. The move signals a transition from planning to implementation in the country’s space and digital infrastructure strategy. The Managing Director of NIGCOMSAT Limited, Jane Nkechi Egerton-Idehen, disclosed the development during the 2026...

N4.6trn banks recapitalisation sparks sectoral battle for funds

March 30, 2026

N4.6trn banks recapitalisation has intensified a sectoral battle for funds as Nigerian banks race to mobilise capital ahead of the March 31, 2026 regulatory deadline. The mobilisation of about N4.6 trillion has shifted focus from fundraising to strategic deployment into productive sectors, marking a critical phase in the Central Bank of Nigeria’s recapitalisation programme. The recapitalisation exercise, initiated...

94% of Nigerians are financially insecure, PiggyVest report shows

March 27, 2026

94% of Nigerians are financially insecure, a new report by PiggyVest has found, painting a stark picture of household financial health in Nigeria and highlighting widespread vulnerability across the economy. The findings were presented during a round‑table discussion on the 2025 PiggyVest Savings Report, attended by financial experts and policymakers in Lagos. The report, compiled...

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Oshiomhole Attacks Obi, Says Four Years Not Enough to Transform Nigeria

July 28, 2026

Former Edo State Governor and Senator Adams Oshiomhole has criticised the 2027 presidential ambition of Nigeria Democratic Congress (NDC) candidate Peter Obi, describing his promise to transform Nigeria within a single four-year term as unrealistic and driven by desperation. Speaking on Obi’s campaign promises, Oshiomhole questioned the former Anambra governor’s political consistency, arguing that his...

SERAP Drags NNPCL to Court Over Unexplained ₦211 Trillion Entries

July 26, 2026

The Socio-Economic Rights and Accountability Project (SERAP) has instituted legal proceedings against the Nigerian National Petroleum Company Limited (NNPCL) over what it describes as the company’s failure to properly explain ₦211 trillion recorded in its 2023 audited financial statements. The lawsuit, filed before the Federal High Court in Abuja, challenges financial entries listed as “Sundry...

Troops Rescue Five Relatives as Search for Abducted Zamfara LG Chairman Intensifies

July 26, 2026

Security forces have intensified efforts to rescue the Zamfara LG chairman, Hon. Nura Umar Abdullahi, after suspected terrorists abducted him during an overnight attack on his residence in Bungudu Local Government Area of Zamfara State. The Joint Task Force (North West), operating under Operation Fansan Yamma, confirmed in a statement issued on Saturday that the...

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Oshiomhole Attacks Obi, Says Four Years Not Enough to Transform Nigeria

SERAP Drags NNPCL to Court Over Unexplained ₦211 Trillion Entries

Troops Rescue Five Relatives as Search for Abducted Zamfara LG Chairman Intensifies

Kwankwaso Breaks Silence on Peter Obi’s One-Term Promise Ahead of 2027

Latest News

Africa trade policy group appoints Ese Owie as convenor in global influence push

Policyholders protection fund unveiled as NAICOM mandates contributions

US Iran conflict impact threatens Nigerian manufacturers, MAN warns

World Bank approves $500m credit for Nigeria’s smallholder farmers

NSIA infrastructure funding set to boost power and ports projects

Pension investment consortium proposed to tackle infrastructure gap

Africa illicit flows cost $88bn yearly, Edun urges urgent action

Satellite plan execution begins ahead of 2028, 2029 launches

N4.6trn banks recapitalisation sparks sectoral battle for funds

94% of Nigerians are financially insecure, PiggyVest report shows

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Oshiomhole Attacks Obi, Says Four Years Not Enough to Transform Nigeria

SERAP Drags NNPCL to Court Over Unexplained ₦211 Trillion Entries

Troops Rescue Five Relatives as Search for Abducted Zamfara LG Chairman Intensifies

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