A leading terminal operator in Nigeria has launched a groundbreaking empowerment programme tailored exclusively for women in its host communities, aiming to boost economic inclusion and foster sustainable livelihoods. The initiative, which blends skill development, financial literacy, and mentorship, is designed to unearth female entrepreneurship potential and deliver long-term impact across diverse sectors. At the heart of the programme is a holistic approach to uplift women’s economic standing. From vocational training in trades such as tailoring, food processing, digital literacy, and cosmetology to entrepreneurial guidance, the programme covers key areas that equip participants for self-employment and small business success. Beyond…
Author: Temitope N.
The Nigerian Exchange (NGX) extended its bearish run as investors lost N265 billion in market value, deepening concerns over persistent sell-offs and weak market sentiment. The downturn, which has affected several key sectors, reflects growing investor caution amid economic uncertainties and global financial pressures. The latest decline saw the NGX All-Share Index drop further, erasing gains recorded earlier in the year. Analysts attribute the losses to profit-taking by investors, concerns over inflation, and fluctuations in foreign exchange rates. The banking, consumer goods, and industrial sectors were among the hardest hit, with major stocks recording price declines. Market watchers suggest that…
Artificial Intelligence (AI) is revolutionizing the marketing landscape, reshaping how businesses engage with consumers, analyze data, and optimize campaigns. As AI-driven tools become more advanced, companies are leveraging machine learning, automation, and predictive analytics to create highly personalized and efficient marketing strategies. One of the most significant changes AI brings to marketing is enhanced customer targeting. With AI-powered algorithms, businesses can analyze vast amounts of consumer data to identify patterns, preferences, and behaviors. This allows brands to deliver tailored content, recommend products, and anticipate customer needs with unprecedented accuracy. AI is also transforming content creation and management. Automated tools can…
South Africa has been recognized as a rising force in the global iGaming industry, with experts predicting significant growth in the sector throughout 2025. As online gambling gains momentum worldwide, South Africa’s regulatory advancements, increasing internet penetration, and growing player base have positioned it as a key market to watch. The country’s iGaming sector has seen a surge in activity, driven by the widespread use of mobile devices and improved access to digital payment solutions. With more players embracing online casinos, sports betting, and esports wagering, operators are expanding their presence in the region to tap into this lucrative market.…
The nationwide blackout that gripped Nigeria over the past 48 hours has begun to ease after the National Union of Electricity Employees (NUEE) announced the suspension of its strike on Wednesday night. The strike, which had thrown homes, businesses, and industries into darkness, was called off following a marathon meeting between electricity sector unions and the Federal Government in Abuja. The industrial action began after unresolved disputes over workers’ welfare, pension entitlements, and stalled negotiations on salary reviews. The strike led to the shutdown of several critical facilities across the country, including transmission substations operated by the Transmission Company of…
The Nigerian Exchange (NGX) closed another volatile session in the red as investors lost an estimated N322 billion in market value, extending a bearish run that has persisted over the past week. The sustained downturn highlights growing concerns among market participants as macroeconomic headwinds, profit-taking, and weak investor sentiment continue to weigh on equities. At the close of trading, the market capitalisation of listed equities dropped to N88.6 trillion, compared to N88.9 trillion in the previous session. Similarly, the All-Share Index (ASI) shed 0.36 percent to close at 156,204.31 points, as investors offloaded shares in key sectors, including banking, industrial…
Nigeria’s finance and insurance sector has continued to show resilience, emerging as one of the strongest contributors to the country’s economic performance, with the latest figures revealing a 16.13% year-on-year growth. The data, released in the latest Gross Domestic Product (GDP) report by the National Bureau of Statistics (NBS), underscores the sector’s rising influence in driving economic activity despite challenges confronting the broader economy. The impressive expansion highlights how reforms, technological innovation, and sustained investment are reshaping financial services in Nigeria. With increased digital adoption, stronger insurance penetration, and higher returns from banking activities, the sector has proven to be…
The Manufacturers Association of Nigeria (MAN) has raised fresh concerns over the Federal Government’s proposed tax stamp policy, warning that the move could increase production costs, hurt local manufacturers, and ultimately shift the financial burden onto consumers. The association stressed that at a time when Nigerians are grappling with inflation, high energy costs, and dwindling purchasing power, implementing such a policy may worsen economic hardship. The Federal Government, through its revenue agencies, has been exploring new fiscal strategies to boost tax collection and curb illicit trade, including the introduction of excise stamps across various sectors. However, manufacturers argue that the…
Champion Breweries Plc has staged a remarkable recovery in the first half of 2025, recording a 111 percent surge in gross profit alongside a major turnaround to profitability after a difficult performance in the previous year. The brewery, based in Uyo, Akwa Ibom State, reported stronger sales, better cost management, and improved operational efficiency, which combined to deliver its best half-year performance in recent years. The financial statement for the six months ending June 30, 2025, showed that the company generated revenue of ₦15.93 billion, representing a sharp increase from ₦9.54 billion in the same period of 2024. This 67…
Nigeria has set its sights on achieving a 7 percent annual economic growth rate, a bold ambition outlined by Vice President Kashim Shettima during his engagements at the 80th United Nations General Assembly (UNGA) in New York. Representing President Bola Tinubu, Shettima told global leaders, investors, and development partners that Nigeria is determined to reposition its economy, restore stability, and ensure sustainable prosperity for its citizens. According to Shettima, the growth target is not a hollow projection but one rooted in the reforms that the Nigerian government has embarked upon since mid-2023. He explained that measures such as the unification…
The Federal Inland Revenue Service (FIRS) has defended the Federal Government’s borrowing framework, insisting that the country’s debt profile remains within sustainable limits when weighed against ongoing reforms, projected revenue growth, and fiscal consolidation plans. Speaking against the backdrop of mounting concerns over Nigeria’s rising debt stock and borrowing costs, the FIRS emphasized that public debt should be viewed in relation to revenue-generating capacity and economic growth, not just as isolated figures. The Service maintained that recent fiscal and tax reforms are designed to boost revenue and enhance the government’s ability to meet its obligations without jeopardizing financial stability. Nigeria’s…
The National Pension Commission (PenCom) has announced plans to redesign the Micro Pension Plan (MPP) to capture millions of Nigerians in the informal sector, as the number of registered contributors remains slightly above 200,000 despite the scheme being introduced more than five years ago. PenCom said the revamp would make the scheme more attractive and accessible to workers in the informal economy, which accounts for over 80 percent of Nigeria’s labor force. The initiative is expected to deepen financial inclusion, strengthen social security, and provide retirement savings for millions of self-employed Nigerians, artisans, and small business operators who have…
The United Nations has advised African nations to strengthen their climate action strategies, stressing that the continent’s future economic stability and social resilience depend heavily on how effectively it addresses the climate crisis. This call comes at a critical time when Africa, despite contributing the least to global greenhouse gas emissions, continues to suffer some of the most severe consequences of climate change, including rising temperatures, desertification, flooding, food insecurity, and displacement. During a recent high-level forum on climate resilience, UN officials underscored the urgency for African governments to translate commitments into actionable, well-funded plans that align with the…
Moniepoint, one of Africa’s fastest-growing financial technology firms, has been named among the top fintech companies in the United Kingdom, a recognition that further cements its position as a global player in digital finance and innovation. The latest recognition underscores Moniepoint’s rising influence in both African and international markets as it continues to expand its operations, scale its technology, and redefine access to financial services. According to industry analysts, the listing reflects Moniepoint’s strong performance over the past few years, during which it has established itself as Nigeria’s largest payments processor for small and medium enterprises (SMEs). By helping millions…
The MTN Foundation has announced a new initiative aimed at training 6,000 entrepreneurs across Nigeria, reaffirming its long-standing commitment to youth empowerment and economic development. The program, designed to equip participants with essential business skills, access to mentorship, and opportunities for financial inclusion, is expected to significantly impact Nigeria’s small and medium-sized enterprise (SME) sector. Announcing the initiative in Lagos, officials from the MTN Foundation explained that the program will target young Nigerians with innovative business ideas and those already managing small-scale enterprises but in need of guidance to scale their operations. The training will cover business planning, financial literacy,…
The Standards Organisation of Nigeria (SON) has commended Dangote Cement Plc for its consistent adherence to industry standards, ethical conduct, and corporate best practices that have positioned the company as a leading player in Africa’s cement industry. The recognition, coming at a time when Nigerian companies are under increasing scrutiny to uphold international standards, underscores Dangote Cement’s pivotal role in setting benchmarks for corporate governance and sustainability. During an industry engagement session in Lagos, SON officials highlighted the company’s unwavering commitment to quality assurance, environmental responsibility, and transparent business operations. According to the regulatory body, Dangote Cement has consistently demonstrated…
Zenith Bank Plc has announced its financial results for the first half (H1) of 2025, recording a remarkable surge in gross earnings to ₦2.5 trillion. The performance reaffirms the bank’s position as one of Nigeria’s most resilient and profitable financial institutions, despite a challenging macroeconomic environment and tightening global financial conditions. The new figures represent a significant leap compared to the ₦1.4 trillion gross earnings reported in the corresponding period of 2024, underscoring the bank’s strong revenue-generating capacity across its core banking operations. The growth was largely driven by higher interest income, robust trading gains, and improved customer transaction volumes,…
Union Bank of Nigeria Plc has successfully redeemed its ₦6.31 billion bond, reinforcing its financial resilience and commitment to prudent debt management in line with its long-term strategic objectives. The redemption, which was finalized this week, marks a significant step toward strengthening the bank’s capital structure and boosting investor confidence in its operations. According to the bank, the bond, which formed part of its medium-term debt issuance program, was fully repaid at maturity, demonstrating the institution’s ability to meet its financial obligations without disruption. The repayment was made to all bondholders in line with agreed terms, a development analysts say…
The Central Bank of Nigeria (CBN) has announced a reduction in its benchmark interest rate, lowering the Monetary Policy Rate (MPR) to 27 percent. The move marks the first downward adjustment in months and signals the apex bank’s bid to ease credit conditions, stimulate investment, and consolidate gains from falling inflation. The decision was reached at the conclusion of the Monetary Policy Committee (MPC) meeting held in Abuja, where members voted to cut the rate after carefully reviewing recent economic data. According to the CBN, the adjustment reflects the need to balance inflation control with the urgency of stimulating growth…
The Federal Government has begun a comprehensive oilfield verification exercise across the Niger Delta, a major initiative that seeks to enhance transparency, strengthen production efficiency, and boost revenue generation from Nigeria’s petroleum resources. The move, spearheaded by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), comes at a critical period when Nigeria is intensifying reforms in its oil sector to meet fiscal targets, tackle inefficiencies, and restore investor confidence. The verification exercise, according to NUPRC officials, will cover both producing and dormant oilfields to determine their true operational status and compliance with the Petroleum Industry Act (PIA). The Commission said the…