Nigeria’s automotive industry is entering a new phase of transformation as auto manufacturers set an ambitious target of sourcing 50% of their vehicle components locally. This move comes as both government and private sector players collaborate to reduce reliance on imported parts, boost domestic production, and support economic growth through industrial expansion. The push toward greater local content is fueled by the need to conserve foreign exchange, promote job creation, and strengthen Nigeria’s manufacturing capabilities. Government backing has come in the form of policies encouraging ministries, departments, and agencies (MDAs) to prioritize locally assembled vehicles in their fleet procurements, alongside…
Author: Temitope N.
The Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) has ushered in a new era of leadership as Mrs. Uto Ukpanah formally assumes her role as the 30th President and Chairman of the Governing Council. In her inaugural address, Ukpanah laid out an ambitious vision aimed at deepening the role of Gen Z professionals in governance, expanding ICSAN’s national footprint, and modernizing its institutional infrastructure. Ukpanah, a seasoned professional with decades of experience in corporate governance and legal compliance, outlined her priorities during her investiture ceremony in Lagos. Her tenure, she emphasized, would focus on inclusion, digital innovation, and…
Fitch Ratings has reaffirmed the long-term Issuer Default Rating of Ecobank Nigeria at ‘CCC’, a level that suggests heightened vulnerability to adverse economic and financial conditions. The rating, while not indicative of immediate default, implies that the bank’s ability to meet its financial commitments is highly dependent on favorable economic developments and possibly external support. This development has sparked concern among industry watchers, given the broader context of challenges in Nigeria’s banking sector and macroeconomic pressures. Ecobank Nigeria, a subsidiary of Ecobank Transnational Incorporated, has faced a series of financial headwinds in recent times. The bank’s capital adequacy has come…
A growing chorus of objections has emerged from fuel suppliers across Nigeria following Dangote Refinery’s announcement to roll out a direct fuel distribution strategy. Suppliers warn the move could severely disrupt the downstream supply chain, marginalize existing operators, and hurt competition in fuel marketing and logistics. Dangote’s plan proposes delivering refined petrol and diesel directly to retail stations, bulk buyers, and industrial firms using its own fleet of Compressed Natural Gas (CNG) tankers. The strategy also includes flexible credit arrangements for large-volume buyers—features the refinery asserts will reduce logistics costs, improve rural access, and ensure consistent fuel supply countrywide. But…
In a noteworthy demonstration of cross-sector commitment to financial transparency, NSIA Insurance, the insurance arm of Nigeria’s sovereign wealth structure, has stepped forward as the official sponsor of a high-level workshop on corporate reporting organised by the Nigerian Council of Registered Insurance Brokers (NCRIB). The event, which gathers regulators, brokers, underwriters, and financial experts, aims to strengthen disclosure standards and elevate investor confidence in the insurance ecosystem. Corporate reporting is no longer just a compliance requirement; it’s now a strategic tool for market credibility and stakeholder trust. The NCRIB workshop, hosted in Lagos, convened company executives, audit firm representatives, capital…
Nigeria’s Nigerian Shippers’ Council (NSC) has pledged to dramatically reduce cargo clearance timelines in a bid to make the nation’s ports more competitive and efficient. At the centre of the initiative is a renewed commitment to automation, stakeholder coordination, and regulatory reform—all aimed at slashing current delays and boosting trade facilitation. Speaking after a strategic meeting with key stakeholders across the maritime sector—including the Nigerian Customs Service (NCS), terminal operators, and freight forwarding associations—NSC’s leadership highlighted the urgent need to eliminate manual bottlenecks that have long plagued cargo handling processes. According to Executive Secretary Hassan Bello, the country cannot match…
The Federal Government has commenced a comprehensive review of its highway concession agreements with private partners under the Highway Development and Management Initiative (HDMI), in a bid to prevent potential legal disputes and ensure the success of road infrastructure projects across the country. The review comes amid rising concerns over the viability of the initial terms of the concessions signed with private sector investors to develop, maintain, and toll major federal highways. According to top officials from the Ministry of Works, the decision to reassess the agreements is driven by changing economic realities, including inflation, fluctuations in traffic volumes, and…
Nigeria is currently grappling with a growing logistical and environmental crisis as an overwhelming number of empty and dilapidated shipping containers continue to block key ports and waterways. Industry stakeholders have expressed serious concerns about the implications of this mounting problem, which threatens both commercial activity and public safety in port cities and riverine areas. Reports from local port authorities and logistics groups indicate that hundreds of thousands of containers—many of them rusty, broken, or unfit for further shipping—have been left to litter the Nigerian coastline. These containers are often dumped indiscriminately along the waterways, port access roads, and even…
Nigeria’s recent efforts to stabilize the naira appear to be gaining traction, with a notable surge in vehicle imports underscoring renewed business confidence. Over just two days, 1,350 fully assembled units arrived at the Port of Tin Can Island’s Motorpark Logistics terminal (PTML), signaling an uptick in economic activity anchored on currency steadiness. Industry insiders describe the bulk importation as a powerful statement: importers are moving forward with significant orders, suggesting they have regained faith in the naira’s resilience after a period of volatile fluctuations. For months, uncertainty surrounding the foreign exchange environment had sapped private sector appetite for large-scale…
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…
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.…
Maggi, the popular seasoning brand under Nestlé, has launched a special campaign titled Tales of Ramadan to celebrate the rich traditions and cultural heritage associated with the holy month. The initiative aims to connect with consumers by sharing inspiring stories, recipes, and experiences that highlight the essence of Ramadan. As a brand deeply rooted in food culture, Maggi’s Tales of Ramadan focuses on the importance of home-cooked meals, family gatherings, and the role of food in fostering togetherness during the fasting period. The campaign features a mix of storytelling, digital content, and community engagement to create a meaningful Ramadan experience…
Ultimate Health HMO has reinforced its leadership team by appointing female directors to its board, a move aimed at enhancing diversity and strengthening corporate governance within the organization. The appointments reflect the company’s commitment to gender inclusion and strategic leadership in Nigeria’s healthcare sector. With the healthcare industry evolving rapidly, Ultimate Health HMO believes that incorporating diverse perspectives at the board level will drive innovation and improve decision-making. The newly appointed directors bring extensive experience in healthcare management, finance, and corporate strategy, positioning the company for continued growth. Industry analysts have praised the move, emphasizing the importance of gender diversity…
Nigeria’s Minister of Marine and Blue Economy, Adegboyega Oyetola, has called on African nations to take a leading role in the global push for green shipping and decarbonisation. Speaking at an industry forum, Oyetola emphasized the need for Africa to develop sustainable maritime practices that align with international efforts to reduce carbon emissions in the shipping sector. With the global maritime industry under increasing pressure to transition to cleaner energy sources, Oyetola stressed that African countries must not be left behind. He highlighted the importance of investing in alternative fuels, energy-efficient vessel technologies, and green port infrastructure to ensure the…
Transnational Corporation Plc (Transcorp) has reached a market capitalization of N2.97 trillion, marking a significant milestone for the conglomerate as it continues its growth trajectory across key sectors. The surge in market value reflects strong investor confidence in the company’s strategic direction, particularly in its power, hospitality, and energy businesses. Driven by positive earnings reports and expansion plans, Transcorp’s stock has experienced steady gains, contributing to its impressive valuation on the Nigerian Exchange (NGX). Analysts attribute the company’s strong performance to its diversified portfolio, operational efficiency, and sustained investments in key sectors of the economy. As part of its expansion…
Aviation professionals in Nigeria are renewing calls for the establishment of a national carrier, citing the need for a reliable, homegrown airline to boost the country’s aviation sector. Industry stakeholders argue that a national carrier would enhance connectivity, reduce reliance on foreign airlines, and support economic growth by creating jobs and fostering tourism. The push for a national airline has gained momentum following concerns over high ticket prices, limited international flight options, and the dominance of foreign carriers in Nigeria’s airspace. Experts believe that a well-managed national carrier could provide competitive fares, improve service quality, and position Nigeria as a…
A leading vehicle assembly company has announced plans to adopt the automobile department of a Lagos-based technical college, aiming to enhance technical education and equip students with industry-relevant skills. The initiative is part of the company’s corporate social responsibility efforts to bridge the skills gap in Nigeria’s automotive sector and nurture the next generation of professionals. Under this partnership, the vehicle assembler will provide modern equipment, hands-on training, and industry exposure to students. Experts from the company will also conduct workshops, mentorship programs, and practical sessions to ensure that students gain real-world experience in vehicle assembly, diagnostics, and repairs. The…
A professional institute has joined forces with a leading agency to celebrate Managers’ Appreciation Day, an initiative aimed at recognizing the contributions of managers across various industries. The partnership seeks to highlight the critical role that managers play in driving organizational success, fostering teamwork, and enhancing productivity. The event, which will feature a series of activities including workshops, award presentations, and networking sessions, is designed to honor managers who have demonstrated exceptional leadership and dedication in their fields. Experts from different sectors will also share insights on effective management practices and the evolving role of leadership in today’s dynamic business…