President Bola Ahmed Tinubu and leaders in Ogun State have called for a unified push toward advancing technological innovation as a driver of economic growth and national development. During a recent tech summit in Abeokuta, stakeholders emphasized the importance of fostering a robust technology ecosystem that empowers startups, attracts investments, and creates job opportunities. President Tinubu, in his address, highlighted the transformative potential of technology in addressing Nigeria’s economic challenges. He urged state governments and private sector players to collaborate in creating policies and infrastructure that support innovation. “The future of Nigeria lies in our ability to harness technology for…
Author: Temitope N.
The National Bureau of Statistics (NBS) has earmarked ₦35 million for cybersecurity training as part of its efforts to enhance digital security measures after its website was recently hacked. The incident, which raised concerns about the vulnerability of critical government infrastructure, has prompted the bureau to prioritize building a more robust digital defense system. According to the NBS, the cybersecurity training initiative will focus on equipping staff with the skills needed to detect, prevent, and respond to cyber threats effectively. The budget also covers the acquisition of advanced cybersecurity tools and the implementation of best practices to safeguard sensitive data…
In a significant move to support low-income countries, the World Bank has announced the suspension of certain loan fees to ease financial burdens on the world’s poorest nations. This initiative is part of the Bank’s broader effort to assist vulnerable economies grappling with debt distress, economic instability, and the lingering effects of global crises. The suspension applies to fees associated with concessional loans provided through the International Development Association (IDA), the World Bank’s arm dedicated to aiding low-income countries. By waiving these fees, the World Bank aims to free up resources for critical investments in healthcare, education, infrastructure, and other…
The Central Bank of Nigeria (CBN) has disqualified 41.65 million shares from Access Holdings’ recent rights issue, citing non-compliance with regulatory guidelines. The decision has sparked discussions in financial circles about its implications for the bank and its investors. Access Holdings, the parent company of Access Bank, had embarked on the rights issue to raise capital for expansion and strengthen its financial position. However, the disqualified shares were deemed ineligible due to procedural lapses and failure to meet specific regulatory requirements outlined by the CBN. In a statement, the CBN emphasized its commitment to ensuring transparency and adherence to regulations…
Dangote Refinery has announced a reduction in petrol prices, attributing the adjustment to current market conditions. The company stated that the move aligns with its commitment to providing competitive pricing while responding to fluctuations in global oil prices and domestic economic realities. In a recent statement, a representative from Dangote Refinery emphasized that the decision was driven by the need to balance affordability for consumers with the sustainability of operations. “Our pricing strategy reflects the dynamics of the global and local markets, ensuring that Nigerians benefit from cost efficiencies,” the representative said. The reduction is expected to offer some relief…
Good Mama, a popular brand known for its range of high-quality food products, has launched a consumer rewards program aimed at giving back to its loyal customers. The initiative, which includes a variety of exciting prizes, seeks to express appreciation for the brand’s continued support and foster a stronger connection with consumers. As part of the campaign, Good Mama consumers will have the chance to win prizes by purchasing the brand’s products and participating in designated promotional activities. The rewards include cash prizes, gift vouchers, and branded merchandise, with a grand prize that promises to be a game-changer for lucky…
Experts have called on the Nigerian government to enhance engagement between regulators and the private sector in order to foster a more conducive environment for business growth and sectoral development. The call comes amid concerns over the challenges businesses face due to regulatory bottlenecks, inconsistent policies, and limited communication with industry regulators. At a recent industry forum, speakers emphasized that more effective collaboration between government agencies and businesses is essential for addressing the regulatory gaps that hinder innovation, investment, and competitiveness. They argued that businesses, especially in sectors like agriculture, technology, and manufacturing, often struggle to navigate complex and sometimes…
Azman Air has responded to allegations that it intentionally switched off the transponders of its aircraft, clarifying that the claims are false. The airline stated that its operations adhere to strict safety standards and regulations set by the Nigerian Civil Aviation Authority (NCAA) and other relevant authorities. The controversy arose following reports that some of Azman Air’s flights were operating without transponders, which are critical for tracking aircraft during flight. Transponders are essential for ensuring safe and efficient air traffic control, providing real-time data to aviation authorities and enhancing flight safety. In its statement, Azman Air emphasized that any issues…
Chi Farms, one of Nigeria’s leading agribusiness companies, has announced plans to invest $2.5 billion in the livestock sector, marking a significant move to boost the country’s agricultural capacity. The investment aims to expand Chi Farms’ operations in poultry, cattle, and other livestock, with a focus on enhancing local food production, improving supply chains, and creating job opportunities in rural communities. The company’s ambitious investment plan is expected to modernize Nigeria’s livestock industry, which has long faced challenges such as insufficient infrastructure, low productivity, and limited access to high-quality feed and veterinary services. Chi Farms intends to address these issues…
Lagos and Enugu have officially joined the Commonwealth trade network, a significant move aimed at boosting their economic integration with global markets and strengthening trade relationships within the Commonwealth. The announcement, made during a recent trade summit, underscores Nigeria’s commitment to expanding its international trade opportunities and fostering economic growth at the state level. The inclusion of Lagos, Nigeria’s commercial hub, and Enugu, a key player in the southeastern region, marks a notable milestone in the country’s economic diplomacy. By joining the Commonwealth trade network, both states will gain access to a range of trade and investment opportunities, enhancing their…