BUA Cement Plc has signed a landmark agreement with CBMI to construct a new 3-million-ton-per-annum cement line in Sokoto, in a deal valued at US$240 million. The manufacturers of BUA Portland Limestone Cement and Sokoto Portland Limestone Cement explained that the project, which includes a power plant and other key facilities, is expected to boost BUA Cement’s […]
Nigeria’s Federal Government says it will rely less on borrowing and focus more on mobilizing domestic resources to strengthen the economy. Minister of Finance, Wale Edun disclosed this during an interview with Bloomberg Television at the World Economic Forum in Davos, Switzerland, stressing that revenue generation is now the government’s top priority. Edun explained that […]
Loans provided by commercial and merchant banks in Nigeria fell to ₦52.656 trillion in June 2025, the lowest level in 14 months, according to the Central Bank of Nigeria’s (CBN) latest quarterly statistical bulletin. The last time lending dropped below this threshold was in April 2024, when it stood at ₦51.467 trillion. The June figure […]
The International Monetary Fund (IMF) has projected that the world economy will remain resilient, expanding by 3.3 per cent in 2026 before easing slightly to 3.2 per cent in 2027, according to its January World Economic Outlook update released Monday. The forecast marks a modest upward revision for 2026 compared with the October 2025 outlook, […]
The Nigerian Communications Commission (NCC) has unveiled plans to adopt Satellite Direct-to-Device (D2D) connectivity to bridge persistent coverage gaps affecting an estimated 23.3 million Nigerians, according to a consultation paper published on its website. The regulator said its push for D2D services is backed by findings from the 2024 cluster gap study conducted by the […]
Nigeria’s air freight logistics market is emerging as a key growth segment of the economy, with rising e-commerce activity and expanding small and medium-sized enterprise (SME) trade pushing the sector’s value beyond $8 billion, according to the Managing Director of Aramex Nigeria, Faisal Jarmakani. Speaking on this development, Jarmakani explained that activity in the market […]
Moniepoint Inc. has opened applications for the second edition of its flagship DreamDevs initiative, designed to strengthen Africa’s technology talent pipeline and equip young professionals with industry‑ready skills. Chief Technology Officer, Felix Ike, disclosed the development in a statement, noting that the programme is open to recent graduates across Nigeria with backgrounds in technology, computer […]
In a rare move that could shake confidence in Nigeria’s economic reporting, Lagos-based investment powerhouse Afrinvest Limited has openly questioned the headline inflation figures released last week by the National Bureau of Statistics (NBS). Afrinvest, which had projected December 2025 inflation at 33.6 percent on the back of base effects and year-end spending, was stunned […]
African ministers responsible for solid minerals have re-elected Nigeria’s Minister of Solid Minerals Development, Dr Dele Alake, as Chairman of the Africa Minerals Strategy Group (AMSG), reinforcing continental efforts to deepen value addition and beneficiation across Africa’s vast mineral resources. Dr Alake was unanimously returned as chair at the 2026 Annual General Meeting of the […]
International Breweries Plc (IBPLC) has announced a leadership transition, appointing Mr Nicholas Kade as its new Managing Director, effective March 1, 2026, as incumbent MD Mr Carlos Coutino moves to a broader leadership role within parent company Anheuser-Busch InBev (AB InBev). In a statement, IBPLC said Coutino will assume the role of Managing Director for […]
Globacom has stepped up its push into digital entertainment with the launch of Travel Saga, a new action-packed mobile game designed exclusively for its subscribers, as the telecoms operator seeks to drive data consumption and deepen customer engagement. Built as a story-driven role-playing game, Travel Saga delivers fast-paced, competitive gameplay tailored for mobile devices, offering users a console-style […]
The Minister of Solid Minerals Development, Dr Dele Alake, has said the establishment of lithium processing and gold refining plants across Nigeria is steadily positioning the country as Africa’s leading minerals supply hub and a key global partner in minerals critical to the green energy transition. Alake asserted during a meeting with the Saudi Arabian […]
International Breweries Nigeria Plc has announced the resignation of its Managing Director and Board member, Mr. Carlos Coutino, with effect from March 1, 2026. The disclosure was contained in a notice signed by the Company Secretary, Temitope Oluwatosin, and addressed to shareholders, the investing public and the Nigerian Exchange Limited. Mr. Coutino joined the company […]
Nigeria’s headline inflation rate is projected to surge sharply to 33.6% in December 2025, bringing an abrupt end to an eight-month disinflation streak, as unfavourable base effects from last year’s CPI rebasing take hold, according to Afrinvest Limited. Ahead of the National Bureau of Statistics’ inflation report, Afrinvest said its model indicates a steep reversal […]
The Federal Government has proposed a N6.69 billion allocation for Ajaokuta Steel Company Limited in the 2026 fiscal year, once again highlighting the heavy fiscal cost of sustaining a non-operational industrial giant more than four decades after it was conceived. Details of the 2026 Appropriation Bill show that personnel costs alone will gulp […]
President Bola Tinubu has applauded corporate Nigeria, investors and capital market stakeholders for pushing the Nigerian Exchange (NGX) past the historic N100 trillion market capitalisation mark, describing the achievement as a strong signal of renewed economic confidence and momentum. The President said the milestone reflects a new phase in Nigeria’s economic journey and should inspire […]
Nigeria has reaffirmed its commitment to strengthening its Comprehensive Strategic Partnership with China, following notable progress in bilateral relations throughout 2025. The partnership, elevated during President Bola Ahmed Tinubu’s state visit to China in September 2024, reflects growing cooperation across political, economic, and technical spheres. Over the past year, engagements between the two […]
Dollar inflows into Nigeria’s official foreign exchange market fell sharply last week, underscoring continued foreign investor caution despite sustained Central Bank of Nigeria (CBN) intervention and recent market reforms. Data from the Nigeria Foreign Exchange Market showed that total FX inflows declined by 20.67 per cent week on week to $593.70 million, down […]
As part of efforts at human capital building and value orientation among young Nigerians, the Managing Director and Chief Executive Officer of Rite Foods Limited, Seleem Adegunwa, charged students of the Nigerian University of Technology and Management (NUTM) to take advantage of the immense opportunities in the Nigerian ecosystem. The Rite Foods’ boss, who was […]
The managing director/CEO of Veritas Glanvills Pension Limited, Mr Godson UkpevMrhas applauded bold regulatory reforms in the Nigeria pension scheme, which have led to a significant turning point that is now reshaping the industry’s landscape. Under the new leadership at the National Pension Commission (PenCom), some bold reforms relating to the administration of retirement benefits […]