The World Bank and the Federal Government of Nigeria have launched a collaborative project aimed at enhancing digital skills among the Nigerian workforce. This initiative is part of a broader effort to bridge the digital skills gap, boost employability, and support economic development in the country. Objectives of the Digital Skills Project The project seeks to equip Nigerians, particularly the youth, with essential digital competencies that are critical in today’s technology-driven economy. By focusing on skills such as coding, data analysis, digital marketing, and software development, the program aims to increase job readiness and facilitate the growth of a digital…
Author: Temitope N.
The Ogun State government has successfully disbursed N3 billion to support 54,000 women as part of its empowerment initiative aimed at promoting financial independence and economic growth. This program, launched under the state’s gender-focused economic development strategy, is set to uplift women entrepreneurs and small-scale business owners, enabling them to enhance their businesses and improve their livelihoods. Objectives of the Disbursement The initiative is designed to boost women’s participation in the local economy by providing them with financial support for business expansion, skill acquisition, and sustainable economic activities. By reaching thousands of beneficiaries, the program aims to contribute to poverty…
The Nigeria Customs Service (NCS) has launched a new digital platform aimed at streamlining cargo transactions and improving the efficiency of port operations. This initiative is part of the NCS’s ongoing efforts to modernize processes, reduce delays, and enhance transparency in the import and export sector. Key Features of the New Platform The new platform, which integrates cutting-edge technology, is designed to simplify and automate cargo clearance processes. Key features include real-time tracking of shipments, faster processing times for cargo documentation, and seamless integration with other regulatory bodies involved in port operations. These improvements are expected to significantly cut down…
The Nigerian Exchange Limited (NGX) has reported a significant decline in its market value, driven by poor performance from major companies including Red Star Express and other listed entities. The exchange’s market capitalization dipped by N32 billion, reflecting a challenging trading environment and investor caution. Key Factors Behind the Decline The downturn can be attributed to a variety of factors, including weak investor sentiment, declining share prices of major players, and economic uncertainties impacting trading. Red Star Express, known for its logistics and courier services, faced particular pressure, with its stock experiencing a sharp drop amid weak trading volumes. Other…
Stanbic IBTC Pension Managers has informed its clients of scheduled downtime for its digital channels as part of routine system maintenance. The firm stated that the maintenance is necessary to upgrade and enhance the security and performance of its online platforms, ensuring a more reliable user experience for customers. Details of the Downtime The scheduled maintenance will affect Stanbic IBTC Pension’s digital services, including its website and mobile app. The downtime is expected to commence on [insert specific date] and will last from [start time] to [end time]. During this period, customers may experience disruptions when accessing account information, initiating…
Moniepoint has been honored as the best fintech company in Nigeria, an accolade presented by Qore, a leading financial technology firm known for its industry assessments and recognition programs. This award highlights Moniepoint’s remarkable achievements in revolutionizing financial services and contributing to financial inclusion across the country. Grounds for the Recognition Moniepoint, which offers a wide range of financial solutions including payment processing, point-of-sale (POS) services, and digital banking tools, has established itself as a top player in Nigeria’s fintech ecosystem. The company’s innovative approach to delivering seamless, affordable, and secure financial services has been pivotal in empowering small businesses…
FCMB Group Plc has reported a substantial profit of N82.4 billion for the fiscal year, marking a significant increase in financial performance. The bank’s latest earnings statement highlights robust growth driven by strategic investments, improved revenue streams, and operational efficiency. Key Financial Highlights Profit After Tax (PAT): The group’s net profit stood at N82.4 billion, reflecting a notable increase from the previous year’s performance. Revenue: Total revenue rose due to a combination of enhanced interest income, fee-based earnings, and other non-interest income streams. Assets and Liabilities: FCMB Group also saw growth in its asset base, which now exceeds N1 trillion,…
The Federal Government (FG) of Nigeria has reaffirmed its commitment to achieving its 2025 oil production target. During a recent briefing, the Minister of Petroleum Resources, Mr. Heineken Lokpobiri, outlined strategic measures aimed at boosting production levels and ensuring the country meets its goal of reaching 2.6 million barrels per day (bpd). Strategic Plans for Increased Production Mr. Lokpobiri stated that the government is implementing a multifaceted approach to address challenges in the oil sector. These include enhancing security in oil-producing areas, streamlining regulatory processes, and incentivizing investments in upstream activities. “We are determined to overcome current production bottlenecks and…
Chevron Nigeria Limited has reported that its $1 billion investment in the country has significantly contributed to the growth of the oil sector. According to the Managing Director of Chevron Nigeria, Mr. Rick Kennedy, the company’s strategic spending is driving job creation, enhancing infrastructure, and fostering technological advancements in the industry. Focus on Strategic Investments Mr. Kennedy highlighted that Chevron’s financial commitment is spread across various initiatives aimed at boosting production, modernizing facilities, and promoting sustainable practices. “This investment is part of our continuous effort to support the oil and gas industry in Nigeria and contribute to the country’s economic…
TotalEnergies has successfully reached over 94% local content in its operations in Nigeria, according to the company’s Director of Local Content, Mr. Chuka Afolabi. This milestone underscores TotalEnergies’ commitment to maximizing the participation of Nigerian businesses and talent in its oil and gas projects, aligning with national policies aimed at promoting local industry growth. Commitment to Local Empowerment Mr. Afolabi highlighted that achieving such a high level of local content is part of TotalEnergies’ strategy to contribute to the economic empowerment of the Nigerian workforce and companies. “We are proud of our achievement, which reflects our dedication to the Local…