The Minister of Marine and Blue Economy, Adegboyega Oyetola, has emphasised that integrated logistics systems remain essential to unlocking Nigeria’s full potential in the blue economy sector. According to him, the nation’s maritime industry cannot achieve sustainable growth or global competitiveness without seamless coordination among ports, transport infrastructure, and logistics operations. Speaking during a stakeholders’ engagement session in Lagos, Oyetola said that the ministry is focused on building a holistic framework that connects all maritime value chains — from port operations to hinterland transportation — to enhance efficiency and profitability. He noted that integrated logistics would not only boost trade…
Author: Temitope N.
Nigeria’s Minister of Power, Chief Adebayo Adelabu, has expressed deep concern over the lack of qualified local technicians to install about 400,000 imported electricity meters currently lying idle across the country. The minister said the situation reflects a major bottleneck in the implementation of the federal government’s National Mass Metering Programme (NMMP), which aims to bridge the nation’s huge metering gap and reduce estimated billing for electricity consumers. Adelabu, who disclosed this during a recent power sector stakeholders’ meeting in Abuja, lamented that despite the government’s effort to import and distribute prepaid meters to electricity consumers, progress has been hindered…
The National Insurance Commission (NAICOM) and the Federal Road Safety Corps (FRSC) have announced a new strategic collaboration aimed at improving compliance and enforcement of third-party motor insurance across Nigeria. The partnership, which was formally unveiled in Abuja, seeks to curb the rising cases of uninsured vehicles on Nigerian roads, enhance road safety, and promote financial protection for motorists and accident victims. Speaking during the official launch of the initiative, the Commissioner for Insurance, Mr. Olusegun Omosehin, said the move marks a significant milestone in the country’s effort to integrate technology and regulatory enforcement in the motor insurance ecosystem. He…
Nigeria’s manufacturing sector has continued to face mounting challenges as credit to manufacturers dropped sharply by N7.72 trillion between January and September 2025, resulting in fragile growth across key industrial segments. Despite government efforts to stimulate local production and ease credit conditions, rising interest rates, exchange rate volatility, and persistent inflation have combined to strain the financial health of manufacturers nationwide. According to data obtained from the Central Bank of Nigeria (CBN) and insights from the Manufacturers Association of Nigeria (MAN), credit to the manufacturing sector fell from N14.62 trillion in December 2024 to N6.9 trillion by the third quarter…
Dangote Cement Plc, Africa’s leading cement producer, has reaffirmed its commitment to youth empowerment in Nigeria through a series of community-driven initiatives focusing on sports development, education, and skills acquisition. The company said the initiatives are part of its broader corporate social responsibility (CSR) agenda aimed at fostering sustainable development, creating opportunities for young people, and promoting social inclusion across its host communities. In a statement released by the company, Dangote Cement emphasized that empowering Nigerian youths remains central to its mission of contributing to national growth beyond industrial operations. The company disclosed that it has continued to invest significantly…
Dangote Cement Plc, Africa’s largest cement producer, has announced an impressive profit of N743.3 billion for the nine-month period ending September 2025, representing one of its strongest financial performances in recent years. The company’s sustained revenue growth, operational efficiency, and strategic expansion across key African markets have positioned it as a dominant force in the continent’s construction and building materials sector. According to the firm’s unaudited financial statements released on the Nigerian Exchange (NGX), Dangote Cement’s profit after tax rose significantly compared to N553.4 billion recorded in the corresponding period of 2024, showing a 34% year-on-year growth. This remarkable improvement…
Ecobank Transnational Incorporated (ETI), the parent company of Ecobank Nigeria and other subsidiaries across Africa, has reported a significant 43% year-on-year surge in profit, hitting N702.4 billion for the financial year ended September 2025. The impressive performance underscores the bank’s robust operational efficiency, effective cost management, and steady revenue growth across its diversified markets. According to the group’s unaudited financial results released to the Nigerian Exchange (NGX), Ecobank’s profit before tax rose sharply from N491.1 billion in the corresponding period of 2024, reflecting the group’s resilience amid a volatile macroeconomic environment and fluctuating foreign exchange conditions across African markets. The…
Nigeria’s electricity supply to the country’s eleven Distribution Companies (DisCos) has surged to 4,871 megawatts (MW), marking one of the highest levels recorded in 2025 and signaling gradual improvement in national power generation and distribution. The increase, industry experts say, reflects the combined effect of enhanced generation capacity, improved grid stability, and ongoing efforts by the federal government to reform the power sector for efficient energy delivery. According to data released by the Nigerian Electricity System Operator (NESO), the grid recorded an average of 4,871MW supplied to the DisCos, compared to less than 4,000MW earlier in the year. The development…
The Nigerian Exchange Group (NGX) has recorded an impressive 37.7 percent increase in its total market capitalisation, reaching N141.75 trillion as of the end of the third quarter of 2025. This surge marks one of the most significant expansions in Nigeria’s capital market history and underscores renewed investor confidence, driven by strong corporate earnings, improved economic outlook, and reforms in the financial sector. Market analysts attribute the performance to increased participation from both local and foreign investors, a resurgence in blue-chip stock trading, and the listing of major companies and sovereign instruments that boosted overall market value. The rise, according…
African business leaders have been called upon to strengthen collaboration and foster strategic partnerships that can drive sustainable economic growth across the continent under the African Continental Free Trade Area (AfCFTA) framework. This appeal was made during a high-level forum attended by political leaders, corporate executives, and development partners who emphasized that private sector unity remains essential for unlocking Africa’s vast economic potential. The conference, held in Addis Ababa, Ethiopia, brought together top executives from major African corporations, policymakers, and representatives of regional trade blocs to deliberate on how to leverage AfCFTA to accelerate industrialization, boost intra-African trade, and promote…
BUA Cement Plc has reported a remarkable profit of N289.9 billion for the nine-month period ended September 2025, representing a significant leap in its earnings and reinforcing its position as one of Nigeria’s most profitable manufacturing firms. The strong performance is attributed to improved operational efficiency, increased production capacity, and a sustained rise in domestic demand for cement, particularly from the infrastructure and construction sectors. According to the company’s latest unaudited financial statement released to the Nigerian Exchange (NGX), revenue surged considerably on the back of higher sales volumes and strategic pricing adjustments that helped cushion the impact of inflation…
The federal government has called on state governments to take advantage of the new electricity framework by establishing their own power generation and distribution companies to address persistent blackouts across the country. The move, officials say, is part of efforts to decentralize electricity management, boost energy access, and accelerate national development through localized solutions. Minister of Power, Chief Adebayo Adelabu, made the call during a stakeholders’ engagement on Nigeria’s power reform agenda in Abuja. He emphasized that the 2023 Electricity Act provides states with full legislative and operational powers to generate, transmit, and distribute electricity within their jurisdictions — an…
Seplat Energy Plc, through its joint venture with the Nigerian National Petroleum Company Exploration and Production Limited (NNPC E&P Ltd), has awarded scholarships worth N18 million to students from Edo and Delta States as part of its commitment to human capital development and educational empowerment. The initiative, under the Seplat JV Scholarship Scheme, continues to provide financial assistance to exceptional students in host communities, promoting access to quality education and fostering social development. The scholarship awards, presented during a ceremony in Benin City, highlight the company’s dedication to supporting young Nigerians and strengthening local capacity through sustainable education-driven initiatives. The…
The Central Bank of Nigeria (CBN) has injected $1.25 billion into the economy to support fuel imports and other critical sectors, a move aimed at stabilizing the foreign exchange market and ensuring adequate supply of essential commodities. The intervention, which comes amid growing pressure on the naira and persistent energy supply challenges, underscores the apex bank’s renewed efforts to enhance market liquidity and sustain macroeconomic stability. A senior official of the CBN, who confirmed the development, said the dollar injection was strategically directed toward fuel importers, manufacturers, and key industries that rely heavily on foreign exchange for production and distribution.…
The Federal Government of Nigeria has announced the listing of N260 billion worth of bonds for its October 2025 auction, signaling continued efforts to deepen the domestic debt market, enhance liquidity, and attract long-term investments. The Debt Management Office (DMO), which disclosed the development, said the auction forms part of the government’s regular borrowing program to finance budgetary obligations and infrastructure projects while promoting a vibrant bond market that supports economic growth. According to the DMO, the issuance is structured to attract a wide range of investors, including pension funds, insurance firms, asset managers, banks, and individual investors seeking stable,…
The Federal Inland Revenue Service (FIRS) has announced that its sweeping tax reforms have successfully reshaped Nigeria’s tax administration ecosystem, improving efficiency, transparency, and compliance while expanding the nation’s revenue base. According to the agency, the recent structural and digital reforms have not only streamlined tax collection processes but also positioned FIRS as one of the most technologically advanced revenue agencies in Africa. Speaking in Abuja, the Executive Chairman of FIRS, Dr. Zacch Adedeji, stated that the ongoing transformation of the Service is anchored on innovation, collaboration, and simplification of tax processes. He noted that through strategic reforms, the FIRS…
The Nigerian Exchange Group (NGX Group) has intensified its commitment to promoting gender inclusion in Nigeria’s capital market by engaging women on investment education, wealth creation, and financial literacy. The initiative, which took place at the NGX headquarters in Lagos, brought together women entrepreneurs, professionals, and investors to discuss the importance of participation in the nation’s investment ecosystem and explore strategies to bridge the gender gap in financial markets. The event, themed “Empowering Women Through Investment,” was part of NGX’s broader effort to promote inclusive finance and sustainable economic development. It featured keynote addresses, interactive sessions, and mentorship dialogues designed…
Meta, the parent company of Facebook, Instagram, and WhatsApp, has hosted an Online Safety Summit focused on promoting safer digital experiences and empowering users—especially young people—to navigate the internet responsibly. The summit, held in Lagos, brought together educators, policymakers, digital experts, and civil society leaders to discuss emerging online risks and explore strategies for building a more secure digital ecosystem across Nigeria and Africa. The event formed part of Meta’s global effort to enhance digital literacy and protect users from cyber threats, misinformation, and online abuse. Speaking at the summit, Meta’s Head of Public Policy for West and Central Africa,…
The management of Dangote Refinery has redeployed a group of engineers recently dismissed following a dispute involving the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) to other company projects located across states including Borno, Zamfara, and Cross River. The move comes amid efforts by the company to ease tensions and maintain operational stability following weeks of controversy surrounding staff disengagement at the refinery complex in Ibeju-Lekki, Lagos. According to company sources, the redeployment was part of a broader restructuring plan aimed at ensuring optimal manpower utilization across Dangote Industries’ various energy and infrastructure projects. The decision, insiders…
Telecommunications giant MTN Nigeria has reiterated its commitment to empowering accountants and finance professionals through the adoption of digital tools and innovative technologies aimed at improving efficiency, accuracy, and productivity in the financial sector. The company stated that embracing digital transformation within the accounting profession is essential for driving sustainable business growth and aligning with global best practices. Speaking during the 2025 edition of the Institute of Chartered Accountants of Nigeria (ICAN) Annual Accountants’ Conference in Abuja, MTN Nigeria’s Chief Enterprise Business Officer, Lynda Saint-Nwafor, highlighted the company’s role in supporting professionals across industries through tailored digital solutions. She emphasized…