The Nigeria Customs Service (NCS), Federal Operations Unit Zone A, Ikeja, has handed over three truckloads of expired pharmaceutical products valued at N3.7 billion to the National Agency for Food and Drug Administration and Control (NAFDAC) for proper disposal. The event, which took place at the NCS office in Ikeja, Lagos, underscores the growing collaboration between regulatory agencies in tackling the circulation of harmful and substandard medicines in the country. Comptroller Mohammed Shu’aibu, Controller of the Federal Operations Unit Zone A, while handing over the items, said the seizures were made following intelligence-led operations carried out by his officers. He…
Author: Temitope Nlewemchi
The Nigeria Customs Service (NCS) and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) have announced a strategic partnership aimed at improving trade facilitation and strengthening the country’s business environment. This collaboration is designed to address bottlenecks in customs procedures, enhance the ease of doing business, and promote Nigeria as a competitive hub for international trade. Speaking on the development, the Comptroller-General of Customs explained that the NCS is committed to aligning its operations with global best practices. He noted that the partnership with NACCIMA will focus on streamlining customs clearance processes, leveraging technology to improve…
President Bola Tinubu has commended the remarkable growth and resilience of Nigeria’s capital market, highlighting its pivotal role in driving economic expansion and attracting investments into the country. The President made the remarks during a high-level meeting with key stakeholders of the Nigerian capital market, including leaders of the Nigerian Exchange Group (NGX) and the Securities and Exchange Commission (SEC), on the sidelines of his visit to Brazil for an international economic summit. Tinubu applauded the NGX and SEC chiefs for their contributions to the market’s recent gains, stating that their efforts have bolstered investor confidence and strengthened the country’s…
The Central Bank of Nigeria (CBN) has issued a directive to all financial institutions in the country, mandating them to complete the upgrade of their payment systems by October 31, 2025. The apex bank emphasized that this move is crucial to enhance the resilience, security, and efficiency of the nation’s financial infrastructure as part of ongoing reforms to modernize Nigeria’s banking sector. According to senior officials of the CBN, the upgrade will cover a range of critical areas including cybersecurity enhancements, infrastructure modernization, fraud prevention measures, and improved customer service delivery. The directive affects all deposit money banks, payment service…
A brewing dispute is unfolding in Kano State’s power sector as local manufacturers move to bypass their existing electricity distribution company and purchase power directly from generation sources. This development, according to industry insiders, signals a significant shift in the electricity market and could reshape how industries in Nigeria access energy for production. The Manufacturers Association of Nigeria (MAN) in Kano has expressed deep concerns over the unreliable and expensive electricity supply from the Kano Electricity Distribution Company (KEDCO), noting that persistent outages and high tariffs have continued to cripple production and threaten jobs across the state. Kano, which hosts…
Manufacturers in Kano State are gearing up to terminate their reliance on electricity supply from distribution companies (DisCos) as they explore direct power agreements with the Niger Delta Power Holding Company (NDPHC). This move, which reflects a growing dissatisfaction with the prevailing electricity supply in the region, aims to boost industrial productivity and reduce operational costs caused by erratic power supply and high tariffs. The Manufacturers Association of Nigeria (MAN) in Kano has expressed concerns over persistent electricity shortages, frequent outages, and what they describe as prohibitive billing practices by the regional DisCos. According to industry leaders, these challenges have…
President Bola Ahmed Tinubu’s recent diplomatic engagement in Brazil has paved the way for a new milestone in Nigeria’s aviation sector, with plans underway to commence a direct flight route between Lagos and São Paulo operated by Air Peace. The development follows high-level discussions between Nigerian and Brazilian authorities as part of efforts to deepen bilateral ties, expand trade, and enhance people-to-people connectivity between the two countries. During his visit to São Paulo for economic and trade discussions, President Tinubu highlighted Nigeria’s commitment to improving transportation links as a catalyst for economic growth and foreign investment. He noted that the…
The Lagos Chamber of Commerce and Industry (LCCI) has renewed its call to global investors to take advantage of Nigeria’s growing investment opportunities, stressing that ongoing economic reforms and the country’s expanding market make it a prime destination for foreign capital. Speaking at recent engagements with international business communities ahead of upcoming trade missions and investment forums, LCCI President Gabriel Idahosa and Director-General Dr. Chinyere Almona emphasized that Nigeria’s economic diversification efforts are beginning to yield encouraging results despite lingering challenges. According to Idahosa, Nigeria’s strategic location in West Africa, its population of over 200 million, and its role as…
Dangote Cement Plc, Africa’s largest cement producer, has reaffirmed its commitment to youth development by rolling out a series of empowerment initiatives to mark the 2025 International Youth Day. The company’s leadership emphasized that young people remain central to Nigeria’s economic future, and Dangote Cement is positioning itself as a key partner in harnessing their potential through entrepreneurship, education, and skills acquisition. During events held across several of its operational sites, Dangote Cement organized workshops, career talks, and entrepreneurship clinics tailored to young Nigerians in both urban and rural communities. According to the company, the initiatives align with this year’s…
The United Nations Development Programme (UNDP) has partnered with the Rural Electrification Agency (REA) to accelerate Nigeria’s shift toward clean energy, a move aimed at boosting sustainable development, reducing energy poverty, and strengthening the country’s climate resilience. The partnership, formally announced in Abuja, represents a major step in aligning global development support with Nigeria’s ambitious energy and environmental goals. Nigeria, Africa’s largest economy and most populous nation, faces significant energy challenges. More than 85 million people lack access to reliable electricity, according to World Bank data, while many others rely on costly and polluting alternatives such as diesel and petrol…
The Nigeria Customs Service (NCS), Kirikiri Lighter Terminal (KLT) Command, has announced that it generated a total revenue of ₦89.2 billion in the first half of 2025, marking a significant increase compared to the same period in the previous year. The impressive revenue growth underscores the command’s ongoing reforms, enhanced operational efficiency, and commitment to supporting the Federal Government’s non-oil revenue drive. According to the Command’s Area Controller, Comptroller Eghosa Edelduok, the surge in revenue was driven by tighter compliance enforcement, improved cargo clearance processes, and the deployment of advanced technologies that have reduced leakages and ensured greater transparency in…
The Federal Government has deducted a total of ₦256.5 billion from the Federation Account during the first half of 2025 to fund critical gas infrastructure projects across the country. The deductions were made under the statutory Gas Infrastructure Fund (GIF), which was created to support the development, expansion, and maintenance of gas pipelines, processing plants, and related infrastructure aimed at boosting Nigeria’s energy transition and industrial growth. According to official data obtained from the Federation Accounts Allocation Committee (FAAC) reports, the deductions were carried out between January and June 2025. Analysts note that these withdrawals highlight the government’s increasing focus…
The Federal Government has unveiled plans to phase out the reliance on diesel-powered generators across military formations in the country, replacing them with solar-powered systems. This move, government officials explained, is part of ongoing efforts to cut costs, reduce carbon emissions, and enhance energy security for critical national defense infrastructure. The initiative, which is being anchored by the Ministry of Defence and Chief of Defence Staff in collaboration with the Rural Electrification Agency (REA) and the Federal Ministry of Power, seeks to provide clean and reliable energy solutions for military operations. According to the government, transitioning to renewable energy in…
Nigeria’s former Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Ade Dosunmu, has reiterated that the blue economy represents one of the most powerful and sustainable pathways for Nigeria’s economic diversification. Speaking at a maritime stakeholders’ forum in Lagos, Dosunmu urged the government to intensify its commitment to harnessing the vast opportunities embedded in the country’s coastal and marine resources to boost revenue, create jobs, and strengthen long-term economic stability. He explained that Nigeria, with a coastline of over 850 kilometres and an exclusive economic zone measuring about 200 nautical miles, possesses enormous potential to build a…
The Nigerian Communications Commission (NCC) has disclosed plans to roll out fresh measures aimed at protecting telecommunications infrastructure across the country, as part of efforts to strengthen service quality, ensure network resilience, and safeguard billions of naira worth of investments in the sector. The development comes against a backdrop of recurring vandalism, theft, and community interference, which continue to undermine the smooth operation of telecom services nationwide. According to the Commission, telecom facilities such as base transceiver stations, optic fibre cables, power generators, and transmission equipment remain critical to Nigeria’s communication backbone. However, persistent challenges including sabotage, fibre cuts, theft…
Nigeria is set to secure a significant financial boost as the World Bank prepares to approve a $750 million loan on Tuesday, marking one of the largest recent interventions by the global lender in support of the country’s economic reforms. The facility, expected to be approved by the World Bank’s Board of Directors, is designed to strengthen Nigeria’s fiscal management, enhance social protection systems, and support key reforms targeted at stabilizing the economy. The anticipated approval comes at a time when Nigeria is grappling with mounting economic pressures, including high inflation, a volatile exchange rate, revenue shortfalls, and rising debt…
The African Development Bank (AfDB) has announced its support for artificial intelligence (AI) training initiatives aimed at equipping Africans with the skills needed to accelerate the continent’s socio-economic transformation under the African Union’s Agenda 2063. The move reflects the bank’s growing focus on technology-driven development and its belief that AI can play a critical role in addressing Africa’s pressing challenges while unlocking new opportunities. According to the AfDB, the training programmes will target young professionals, entrepreneurs, policymakers, and researchers across member states, ensuring that AI knowledge is not limited to the tech industry but extends into key sectors such as…
The Federal Inland Revenue Service (FIRS) has announced a strategic partnership with the Nigeria Customs Service (NCS) to accelerate the implementation of the National Single Window (NSW) project, a digital trade facilitation platform aimed at streamlining cross-border transactions and enhancing government revenue collection. The move is expected to improve efficiency, reduce bottlenecks, and boost Nigeria’s competitiveness in international trade. The National Single Window is designed as an integrated digital portal that allows traders, shipping companies, freight forwarders, and government agencies to process import, export, and transit-related documentation through a single entry point. By bringing all relevant stakeholders onto one platform,…
The National Sugar Development Council (NSDC) has taken another major step toward strengthening Nigeria’s sugar industry by signing agreements with four new operators to collectively produce 400,000 metric tonnes of sugar annually. The initiative is part of the Federal Government’s broader strategy to achieve self-sufficiency in sugar production, reduce import dependence, and stimulate economic growth through the Backward Integration Programme (BIP). The agreements, signed at the NSDC headquarters in Abuja, bring additional private-sector players into the country’s sugar value chain, increasing production capacity while also creating opportunities for employment and rural development. According to the council, the deal will complement…
The Central Bank of Nigeria (CBN) has intensified its drive to deepen financial inclusion in the country by organising a financial literacy fair aimed at promoting alternative payment channels and other innovative banking solutions. The event, which attracted stakeholders from the banking sector, fintech companies, small business owners, and members of the public, was designed to raise awareness about accessible, affordable, and secure financial services for all Nigerians, regardless of location or income level. Speaking at the fair, CBN officials explained that the initiative aligns with the bank’s strategic plan to bridge the financial inclusion gap, particularly in rural and…