The Nigeria Employers’ Consultative Association (NECA) has called for improved labor policies to enhance economic stability and foster business growth. The organization emphasized the need for policies that support job creation, fair wages, and a more business-friendly environment to boost productivity and economic resilience. NECA’s Director-General highlighted that outdated labor laws, inconsistent policies, and poor implementation have hindered sustainable development. He urged the government to engage in meaningful dialogue with employers and labor unions to create policies that balance workers’ rights with business interests. The association also stressed the importance of addressing unemployment, improving social security systems, and ensuring fair…
Author: Temitope N.
The Nigerian Association of Petroleum Explorationists (NAPE) has urged stakeholders to ramp up investments in the country’s energy sector to ensure sustainability and growth. Speaking at a recent industry forum, NAPE President emphasized the need for increased funding in exploration, infrastructure, and renewable energy to maintain Nigeria’s competitive edge in the global market. He noted that dwindling investments in oil and gas exploration could impact energy security and economic stability. According to NAPE, attracting both local and foreign investors requires policies that encourage ease of doing business, tax incentives, and improved regulatory frameworks. Beyond fossil fuels, NAPE also highlighted the…
The government is set to revive the struggling textile industry while intensifying efforts to curb smuggling, according to Minister of Industry, Trade, and Investment, Enoh. Speaking at a stakeholders’ meeting, he emphasized that revamping the textile sector is crucial for job creation and economic growth. Enoh outlined plans to provide financial incentives, modernize factories, and implement policies that promote local production. He also stressed that smuggling remains a significant threat to the industry, undercutting local manufacturers and discouraging investment. To combat this, the government will strengthen border security, enforce stricter trade regulations, and work closely with law enforcement agencies to…
Inflation can put a strain on finances, making it essential to find ways to cut costs while maintaining financial stability. Here are 14 practical strategies to help you navigate rising prices and stay ahead. Track Your Expenses – Monitor your spending to identify areas where you can cut back. Small savings add up over time. Create a Budget – Set clear spending limits for essentials and discretionary expenses. Sticking to a budget helps prevent unnecessary purchases. Reduce Energy Consumption – Save on electricity by turning off unused appliances, using energy-efficient bulbs, and opting for natural ventilation. Buy in Bulk –…
Fidelity Bank has announced plans to raise additional capital through a private placement as part of its strategy to meet the new regulatory requirements for bank recapitalization. The move aligns with the Central Bank of Nigeria’s (CBN) directive for banks to strengthen their capital base to enhance financial stability and resilience. The private placement will involve the issuance of new shares to select investors, allowing the bank to generate fresh funds without going through a public offering. Fidelity Bank aims to use the capital to reinforce its financial position, support expansion plans, and improve its ability to fund large-scale transactions.…
The Ministry of Finance Incorporated (MOFI) has unveiled a N100 billion real estate fund aimed at addressing Nigeria’s housing deficit and boosting infrastructure development. The initiative seeks to provide affordable housing solutions while attracting private sector investment into the real estate market. According to MOFI, the fund will be used to finance large-scale housing projects, particularly in urban centers where demand for affordable housing remains high. The initiative aligns with the government’s broader strategy to bridge the housing gap, estimated at over 20 million units, and improve living conditions for Nigerians. MOFI’s Managing Director emphasized that the real estate fund…
Eko Electricity Distribution Company (EKEDC) has announced a new initiative to provide free prepaid meters to its customers, aiming to improve billing transparency and reduce estimated billing complaints. The rollout is part of the federal government’s mass metering program designed to enhance electricity distribution and customer satisfaction. The initiative will cover thousands of households and businesses within EKEDC’s coverage areas, including parts of Lagos and Ogun states. By distributing free meters, the company hopes to eliminate the long-standing issue of estimated billing, which has been a major source of frustration for customers. According to EKEDC, the deployment process will be…
The Nigerian Railway Corporation (NRC) and APM Terminals have officially commenced freight services between Lagos and Ibadan, marking a significant boost for cargo transportation in the country. The new rail service is expected to ease congestion at the Apapa port and improve the movement of goods between the two major cities. The initiative aims to provide businesses with a faster and more efficient alternative to road transport, which has long been plagued by gridlock and delays. With the Lagos-Ibadan rail corridor now operational for freight, importers and exporters can move cargo more seamlessly, reducing both transit time and logistics costs.…
A 12-year-old Nigerian student has emerged as the winner of the prestigious MED-EL ear care contest, showcasing remarkable knowledge and advocacy for hearing health. The competition, organized by MED-EL, a global leader in hearing implant technology, aims to raise awareness about hearing loss and the importance of ear care. The young champion competed against participants from various countries, impressing judges with their understanding of hearing health, innovative ideas, and commitment to spreading awareness. Their presentation highlighted the significance of early detection, proper ear hygiene, and the role of technology in improving the lives of people with hearing impairments. Winning this…
The Dangote Refinery is gearing up to reach full production capacity, marking a major milestone for Nigeria’s energy sector. However, the company has yet to disclose where it will source the crude oil needed to sustain operations, raising questions about supply stability. The $19 billion refinery, one of the largest in the world, has been gradually ramping up operations and recently began supplying petroleum products to the Nigerian market. Once fully operational, it is expected to refine up to 650,000 barrels of crude per day, significantly reducing Nigeria’s dependence on imported fuel. Despite this progress, uncertainty lingers over whether the…