A property development firm has unveiled a new 32-unit terrace housing estate in Lagos, marking another significant addition to the city’s growing real estate landscape. The project, according to the developers, is designed to meet the rising demand for modern, secure, and well-planned residential spaces in Nigeria’s commercial capital. The estate, strategically located in a high-demand area of Lagos, is aimed at middle- to upper-income buyers seeking both comfort and investment value. Each unit is designed with contemporary architecture, functional layouts, and high-quality finishing, while also incorporating energy-efficient features to promote sustainable living. Speaking at the launch, the company’s managing…
Author: Temitope Nlewemchi
Nigeria’s manufacturing sector is grappling with escalating operational expenses, as the combined impact of sustained inflation and the weakening naira has pushed production costs to a staggering ₦2.6 trillion. Industry stakeholders warn that unless urgent measures are taken to stabilise the economy, the rising cost of doing business could further erode competitiveness, limit production capacity, and threaten jobs in the sector. According to figures from the Manufacturers Association of Nigeria (MAN), the latest cost burden reflects the steep rise in raw material prices, energy expenses, transportation costs, and imported input bills over the past year. The depreciation of the naira…
The Abuja Chamber of Commerce and Industry (ACCI) has expressed confidence that the Federal Government’s new livestock reforms will significantly enhance Nigeria’s Gross Domestic Product (GDP) by unlocking the full potential of the sector. The Chamber noted that the reforms, aimed at modernising livestock production, improving market access, and addressing security challenges in pastoral communities, could transform the industry into a major driver of economic growth and job creation. In a statement, ACCI President, Dr. Al-Mujtaba Abubakar, commended the government for prioritising livestock development as part of its broader agricultural transformation agenda. He observed that despite Nigeria’s large population of…
The Lagos State Government has intensified its regulatory oversight of e-hailing transportation companies, citing growing concerns over passenger safety and compliance with operational guidelines. Officials from the state’s Ministry of Transportation and the Lagos State Vehicle Inspection Service (VIS) have commenced enforcement actions targeting operators allegedly flouting safety regulations, including requirements on driver verification, vehicle roadworthiness, and emergency response measures. According to the state authorities, the move follows an increase in reported incidents involving e-hailing vehicles, ranging from accidents to security-related cases. The government expressed worry that while e-hailing services have significantly contributed to urban mobility in Lagos, lax compliance…
NIPCO Plc, one of Nigeria’s leading players in the downstream oil and gas sector, has celebrated its long-serving employees in a ceremony that highlighted the company’s commitment to recognising dedication, loyalty, and professionalism. The event, held at the company’s headquarters in Lagos, brought together management, staff, and invited guests to honour employees who have served for more than a decade, with some clocking up to 25 years of continuous service. Speaking at the celebration, the Managing Director of NIPCO, Suresh Kumar, commended the awardees for their unwavering dedication and the critical role they have played in the company’s growth over…
The Minister of Aviation and Aerospace Development, Festus Keyamo, has confirmed that the proposed strike by aviation sector unions has been suspended following a series of engagements between the government and labour representatives. The suspension, according to the minister, was the outcome of constructive dialogue aimed at averting disruptions to flight operations and protecting the nation’s aviation industry from economic and reputational damage. Speaking in Abuja, Keyamo explained that the unions had raised several issues relating to workers’ welfare, operational conditions, and pending agreements with the government. These concerns, he noted, had been the subject of repeated engagements in recent…
The Nigerian Naira experienced mixed trading patterns in the foreign exchange market this week as strong demand for foreign currency continued to shape market sentiment. Traders and analysts observed fluctuations in the exchange rate across official and parallel market segments, reflecting persistent pressure from import demands, capital outflows, and speculative activities. At the Nigerian Autonomous Foreign Exchange Market (NAFEM), the naira opened the week with a mild appreciation but soon retreated as demand for the United States dollar and other major currencies outpaced supply. Market data showed that the naira briefly strengthened against the greenback in early trading sessions, supported…
The Abuja Electricity Distribution Company (AEDC) has announced a planned power outage that will affect parts of the Federal Capital Territory, Abuja, as well as some areas in Kogi State. According to the company, the outage is necessary to allow for critical maintenance work on its distribution infrastructure, aimed at improving the reliability and efficiency of electricity supply in the affected regions. In a statement issued on Friday, the AEDC explained that the planned interruption would occur over a specified period, with affected customers duly informed in advance to make adequate arrangements. The company noted that the outage is part…
Minister of Aviation and Aerospace Development, Festus Keyamo, has expressed relief over the suspension of strike actions earlier threatened by aviation unions, commending the decision as a step towards maintaining stability in Nigeria’s aviation sector. Speaking to journalists in Abuja, Keyamo said the decision demonstrated the unions’ commitment to dialogue and the collective interest of passengers, airlines, and the overall economy. According to him, the ministry had engaged in constructive meetings with union leaders to address the grievances that led to the planned industrial action. He explained that several of the concerns raised by the unions, including welfare packages, working…
The Central Bank of Nigeria’s (CBN) recently introduced Non-Resident Bank Verification Number (BVN) policy is being tipped by financial experts as a potential game changer in the country’s efforts to deepen financial inclusion and extend banking services to millions of Nigerians living abroad. The initiative, which allows Nigerians in the diaspora to obtain BVNs without physically visiting the country, aims to remove one of the most significant barriers that have long limited their access to financial products and services in the domestic banking system. Under the new arrangement, Nigerians abroad can register for BVNs through selected international enrolment centres or…
The National Drug Law Enforcement Agency (NDLEA) has revealed that it seized more than 11.2 million kilogrammes of illicit drugs and arrested over 67,000 suspects across Nigeria in the last 54 months as part of its intensified crackdown on narcotics trafficking and abuse. The agency’s Chairman and Chief Executive, Brigadier General Mohamed Buba Marwa (Retired), made the disclosure during a media briefing in Abuja, stating that the achievement represents an unprecedented milestone in the agency’s history and underscores the administration’s commitment to tackling the drug menace in the country. He explained that the arrests included several high-profile traffickers, cartel leaders,…
The National Drug Law Enforcement Agency (NDLEA) has arrested a Lagos-based pastor for his alleged role in trafficking a large consignment of cannabis from Ghana, as part of a nationwide operation that led to the seizure of 3.4 tonnes of illicit drugs. In a statement issued yesterday, NDLEA spokesperson, Femi Babafemi, said the clergyman was apprehended following intelligence that linked him to the shipment of compressed cannabis concealed in food items for onward distribution in Nigeria. The suspect, whose name was withheld pending further investigation, was arrested at his residence in Lagos after operatives intercepted the consignment at a warehouse.…
Nigeria recorded $3.225 billion in non-oil export earnings in the first half of 2025, according to the Executive Director and Chief Executive Officer of the Nigerian Export Promotion Council (NEPC), Dr. Ezra Yakusak. The figure reflects the country’s continued efforts to diversify its economy away from oil dependency and boost foreign exchange inflows through agricultural commodities, manufactured goods, and solid minerals. Speaking at a media briefing in Abuja, Yakusak said the performance in the January–June period underscores the resilience of the non-oil export sector despite global economic headwinds, supply chain disruptions, and domestic infrastructure challenges. He noted that the sector…
The Federal Government has announced strict penalties, including a fine of up to ₦5 million and possible imprisonment, for individuals or entities found guilty of leaking confidential documents belonging to the newly established National Revenue Service (NRS). The measure, disclosed yesterday by the Ministry of Finance, forms part of new regulations designed to safeguard sensitive tax and revenue information from unauthorised access and distribution. The government said the step is necessary to protect national interests, ensure data security, and maintain public trust in Nigeria’s revenue administration system. According to the ministry, the penalty applies to both employees of the NRS…
Organisers of the upcoming Abuja International Trade and Investment Expo have set their sights on attracting more than 500 investors from around the world, in what is expected to be one of Nigeria’s most ambitious business gatherings in recent years. The event, scheduled to take place in the Federal Capital Territory, aims to position Abuja as a prime hub for trade, industry, and cross-border partnerships. According to the planning committee, the expo will bring together investors, business leaders, government agencies, and innovators from Africa, Europe, Asia, the Middle East, and the Americas. The platform will be used to showcase Nigeria’s…
A growing number of Nigerian companies are abandoning reliance on the national electricity grid, with 46 additional firms recently opting for self-generated power as rising energy costs, unreliable supply, and frequent outages continue to challenge business operations. The latest shift underscores the deepening struggles within the country’s power sector and the private sector’s increasing turn toward alternative energy solutions. The development, confirmed by industry sources and energy regulators, reflects a broader trend of businesses prioritizing operational stability over dependence on the national grid, which has been plagued by infrastructure deficits, generation shortfalls, and distribution bottlenecks. According to the Nigerian Electricity…
Bluebird, a renowned name in its industry, has marked its 30th anniversary with a celebration highlighting three decades of growth, innovation, and contributions to its field. The milestone event, held at the company’s headquarters, brought together staff, industry partners, loyal customers, and stakeholders to honor the journey from a small start-up to a leading player in its market. Speaking at the anniversary ceremony, Bluebird’s Chief Executive Officer, Helen Marshall, reflected on the company’s humble beginnings and the values that have guided its success over the years. She credited the firm’s resilience, commitment to quality, and customer-focused approach as the pillars…
The Federal Government has issued a stern warning to relevant agencies responsible for the country’s economic data collation and dissemination, stressing the need to ensure that future Gross Domestic Product (GDP) reports are released promptly. This directive follows concerns raised over the negative impact of delays in the publication of such critical economic indicators on policy planning, investor confidence, and market performance. Speaking at a press briefing in Abuja, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said timely GDP reporting is a vital component of effective economic governance. He emphasized that GDP figures are not just…
The Federal Inland Revenue Service (FIRS) has marked a new milestone in its operational history with the celebration of its first-ever Research Day, an event aimed at promoting evidence-based decision-making and strengthening Nigeria’s tax administration through data-driven innovations. The occasion, held at the FIRS headquarters in Abuja, also featured the official launch of advanced tax data tools designed to improve transparency, compliance, and efficiency in the nation’s revenue collection system. Speaking at the event, FIRS Executive Chairman, Zacch Adedeji, described the Research Day as a landmark initiative that underscores the agency’s commitment to transforming Nigeria’s tax sector into a modern,…
Nigeria’s telecommunications industry has witnessed a major shift as 9mobile officially announced its rebranding to T2, marking a new chapter in the company’s operations and market positioning. The move, according to the firm’s management, is part of a broader strategy aimed at revitalising its brand identity, expanding digital services, and strengthening its competitive edge in the dynamic telecom sector. The announcement was made during a high-profile event in Lagos, where company executives, industry stakeholders, and brand ambassadors unveiled the new name, logo, and corporate vision. T2’s leadership explained that the rebranding represents more than just a change of name—it signals…