The Niger State government has entered into a partnership with the African Women in Technology and Science (AWITS) to promote the inclusion of women in the technology sector. This initiative aims to equip women with digital skills, foster entrepreneurship, and create opportunities in Nigeria’s rapidly evolving tech industry. Through this collaboration, women across Niger State will gain access to specialized training in coding, artificial intelligence, cybersecurity, and other emerging fields. The program also seeks to bridge the gender gap in technology by encouraging more women to pursue careers in science, technology, engineering, and mathematics (STEM). AWITS, known for its commitment…
Author: Temitope Nlewemchi
The Olusegun Agagu Foundation (OAF) has announced plans to convene a national dialogue on food security, bringing together key stakeholders to address the challenges threatening Nigeria’s agricultural sector. The initiative aims to foster discussions on sustainable food production, policy reforms, and innovative solutions to ensure long-term food sufficiency in the country. The foundation stated that the dialogue would involve policymakers, farmers, agribusiness leaders, researchers, and development partners, with a focus on tackling issues such as climate change, rising production costs, inadequate infrastructure, and post-harvest losses. The event is expected to generate actionable recommendations that can guide government interventions and private-sector…
Nigeria’s insurance sector recorded significant trading activity as investors exchanged 72.36 million shares on the Nigerian Exchange (NGX), signaling renewed interest in the industry. The surge in trading volume highlights growing investor confidence in insurance stocks, despite economic uncertainties and market volatility. The increased activity was driven by strong performances from key players in the sector, with several insurance firms attracting higher demand due to their promising growth prospects. Analysts attribute the rise in share trading to positive sentiment surrounding recent regulatory efforts to deepen insurance penetration, as well as improved financial results from some insurers. In recent months, insurance…
Sunu Assurances Nigeria Plc has projected a profit of N1.19 billion for the first half of 2024, reflecting its confidence in sustained growth despite prevailing economic challenges. The company’s optimistic outlook is based on strategic business expansion, improved underwriting performance, and cost optimization measures aimed at strengthening its financial position. The insurer, which has been expanding its footprint in Nigeria’s insurance sector, expects to generate higher premium income from its diverse portfolio of products, including motor, life, health, and corporate insurance services. Sunu Assurances has been leveraging technology to streamline its operations, enhance customer experience, and improve claims processing efficiency—key…
The Nigerian equities market suffered another setback as bearish sentiment dominated trading, leading to a loss of N285 billion in market capitalization. The decline, driven by sell-offs in major stocks across key sectors, reversed the previous gains recorded earlier in the month and heightened concerns over investor confidence amid economic uncertainties. The Nigerian Exchange (NGX) recorded a sustained downturn, with the All-Share Index (ASI) dropping significantly as blue-chip stocks faced increased selling pressure. Analysts attribute the losses to a combination of factors, including concerns over foreign exchange volatility, rising inflation, and profit-taking activities by investors looking to mitigate risks in…
Seplat Energy Plc has announced the launch of a $650 million notes offering as part of its strategic move to refinance existing debt and strengthen its financial position. The energy company, a leading player in Nigeria’s oil and gas sector, aims to use the proceeds from the bond issuance to optimize its capital structure, reduce financing costs, and enhance liquidity for future investments. The debt refinancing initiative is expected to replace older, higher-interest obligations with more favorable terms, ensuring sustainable financial management amid ongoing economic challenges. By restructuring its debt portfolio, Seplat seeks to maintain financial flexibility, improve cash flow,…
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has staged a protest at the headquarters of Sterling Oil Exploration and Energy Production Company Limited, accusing the firm of engaging in anti-labour practices. The union’s action comes after repeated attempts to address concerns over unfair treatment of workers, alleged contract violations, and poor working conditions. According to PENGASSAN, Sterling Oil has consistently failed to uphold labour rights, including fair wages, job security, and proper welfare for employees. The union claims that the company engages in casualization—employing workers on temporary contracts without benefits—despite clear labour laws prohibiting such practices…
Economic analysts have raised concerns over Nigeria’s rising debt burden, calling for immediate fiscal reforms to prevent long-term economic instability. Their warnings come in response to recent comments from the International Monetary Fund (IMF), which suggested that Nigeria’s debt level remains sustainable despite its rapid growth. Analysts, however, argue that without urgent intervention, the country could face severe economic consequences, including reduced public spending, higher borrowing costs, and weaker investor confidence. Nigeria’s total public debt has ballooned in recent years, driven by frequent borrowings to finance budget deficits, infrastructure projects, and fuel subsidies. While the government has defended these loans…
The Society of Women Accountants of Nigeria (SWAN) has called on the government to fulfill its commitments to women’s empowerment, urging concrete actions beyond policy declarations. In commemoration of International Women’s Day (IWD), the association emphasized the need for more inclusive economic policies, gender-equitable workplace practices, and improved access to financial and educational opportunities for women across the country. Speaking at an IWD event, SWAN leaders highlighted the persistent challenges women face in career advancement, entrepreneurship, and leadership roles. Despite various government pledges to promote gender equality, they noted that many women still struggle with workplace discrimination, limited access to…
VFD Group, in partnership with Utopia, has launched an initiative to empower 5,000 women-led small and medium-sized enterprises (SMEs) across Nigeria. The program aims to provide women entrepreneurs with financial support, business training, and mentorship to enhance their capacity for growth and sustainability in a competitive market. Recognizing the challenges faced by women in business, including limited access to funding, market visibility, and business development opportunities, VFD Group and Utopia have designed this initiative to bridge the gap. Through a combination of financial aid, skills training, and strategic networking opportunities, the program seeks to create a more inclusive and supportive…
Hydrogen Payment has extended its corporate social responsibility efforts by providing a school with a solar power system, ensuring a stable and sustainable energy supply for students and teachers. The initiative aims to address electricity challenges that have long affected the school’s learning environment, enabling uninterrupted academic activities and improving overall educational outcomes. The project is part of Hydrogen Payment’s commitment to supporting education and sustainability through innovative energy solutions. With unreliable power supply being a major issue for many schools across Nigeria, the company recognized the need to step in and offer a lasting solution. By installing solar panels…
The Federal Government has signed a Memorandum of Understanding (MOU) with Flutterwave to drive youth empowerment initiatives aimed at fostering job creation and financial inclusion. The partnership seeks to equip young Nigerians with digital skills, entrepreneurship opportunities, and access to fintech solutions that can help them build sustainable careers in the digital economy. Speaking at the signing ceremony, government officials emphasized the importance of leveraging technology to address unemployment and create new economic opportunities for young people. With Nigeria’s youth population growing rapidly, there is an increasing need to provide platforms that support skill development, financial literacy, and access to…
Investment scams have been on the rise in recent years, with many fraudulent schemes luring individuals with promises of high returns in a short period. The SEC, as Nigeria’s primary financial regulatory body, has the responsibility of overseeing investment activities to ensure they comply with legal and ethical standards. In its latest statement, the commission specifically identified Pro-Vest as one of the platforms engaging in unauthorized investment activities. SEC noted that such schemes often employ aggressive marketing tactics, including referrals, online promotions, and testimonials, to convince potential investors to part with their money. However, these entities typically lack the proper…
The National Automotive Design and Development Council (NADDC) has announced that its new vehicle regulation framework could create up to 40,000 jobs in Nigeria’s automotive sector. The initiative aims to boost local vehicle manufacturing, reduce import dependence, and stimulate economic growth through increased industrial activities. According to NADDC, the regulation focuses on enforcing stricter standards for vehicle imports while promoting local assembly and production. By supporting automakers and component manufacturers within Nigeria, the policy is expected to generate employment across various segments, including manufacturing, logistics, and sales. The council highlighted that with the right investments and government backing, the automotive…
Seplat Energy has announced plans to drill 13 new oil wells in 2025 as part of its strategy to boost production and strengthen Nigeria’s energy sector. The expansion is aimed at increasing crude oil output, optimizing existing assets, and enhancing the company’s contribution to the country’s hydrocarbon industry. According to Seplat, the new drilling campaign will focus on both onshore and offshore assets, with a mix of development and appraisal wells. The initiative aligns with the company’s long-term growth objectives and Nigeria’s broader efforts to sustain oil production amid fluctuating global energy demand. Industry analysts believe that Seplat’s investment in…
The pump price of Premium Motor Spirit (PMS), commonly known as petrol, may decline further as global crude oil prices continue to trend downward. Industry analysts suggest that if the current decline in crude prices persists, the cost of refined petroleum products, including PMS, could see additional reductions in the coming weeks. Recent market data indicates that crude oil prices have dipped due to a combination of factors, including increased global supply, reduced demand in key economies, and geopolitical developments. Since petrol prices are largely influenced by the cost of crude, a sustained drop in oil prices could translate into…
Shell has stated that Nigeria is facing intense competition for foreign investments, as global energy firms increasingly weigh their options across various emerging markets. Speaking at an industry forum, Shell executives emphasized that while Nigeria remains a key player in the oil and gas sector, policy uncertainties, infrastructure challenges, and security concerns are affecting investor confidence. According to Shell, countries with more stable regulatory environments and attractive fiscal policies are drawing significant capital away from traditional investment hubs like Nigeria. The energy giant highlighted the need for improved business conditions, including streamlined approval processes, security enhancements, and competitive tax structures,…
Optima Energy has entered into a strategic partnership with Dangote Refinery to enhance fuel distribution across Nigeria and beyond. The collaboration aims to ensure efficient supply chain management, improve fuel availability, and stabilize the petroleum market as the refinery ramps up production. According to industry sources, Optima Energy will leverage its logistics network and storage infrastructure to facilitate the seamless distribution of refined products from the Dangote Refinery to key markets. This partnership is expected to bridge supply gaps, reduce dependency on fuel imports, and support Nigeria’s energy security goals. Dangote Refinery, Africa’s largest single-train refinery, has been positioned as…
The Nigerian Ports Authority (NPA) has pledged to address the persistent challenges of poor port infrastructure, which have long hampered efficiency and increased costs for businesses operating in the maritime sector. Speaking at a stakeholders’ forum, NPA’s Managing Director, Mohammed Bello-Koko, reaffirmed the agency’s commitment to modernizing port facilities and improving operational efficiency. Key areas of focus include rehabilitating aging port infrastructure, upgrading cargo handling equipment, and enhancing digitalization to streamline operations. Bello-Koko acknowledged that congestion, inadequate road networks, and outdated facilities have slowed down cargo clearance, affecting Nigeria’s competitiveness in global trade. To tackle these issues, the NPA plans…
The Women in Management, Business, and Public Service (WIMBIZ) organization has highlighted the lack of mentorship as a key factor contributing to career stagnation among women in Nigeria. Speaking at a recent forum, WIMBIZ leaders emphasized that many women struggle to advance in their careers due to limited access to guidance, networking opportunities, and professional development support. According to WIMBIZ, while Nigerian women have made significant strides in business and leadership, systemic challenges such as workplace bias, limited sponsorship, and cultural expectations continue to hinder their progress. Without strong mentorship structures, women often find it difficult to navigate corporate hierarchies,…