Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, has revealed that Chinese firms have committed over $1.3 billion to lithium processing projects across the country, underscoring growing international confidence in Nigeria’s mining reforms. Alake made this known while addressing participants at the 2025 China Mining Conference in Tianjin,...
BUSINESS
Nigeria witnessed cryptocurrency transactions worth over $50 billion between July 2023 and June 2024, according to the Securities and Exchange Commission (SEC). The SEC Director-General, Dr. Emomotimi Agama, disclosed this in a statement on Sunday, expressing concern that despite the massive flow of funds through digital assets, only a...
By JOY ADARA , Abuja- Central Bank of Nigeria (CBN) has applauded the country’s removal from the Financial Action Task Force’s (FATF) “grey list,” describing it as a major milestone in Nigeria’s financial reform journey. In a statement issued on Saturday in Abuja, the CBN’s Acting Director of Corporate...
Afreximbank’s Executive Vice-President, Dr. George Elombi, has shed light on the transformative leadership of Professor Benedict Oramah, whose decade at the helm turned the institution from a modest US$6 billion entity in 2015 into a continental giant boasting assets of over US$40 billion. Speaking at a farewell conference in...
The Thriving Business Women Foundation (TBWF), has announced the maiden edition of its Influencer Conference, a pioneering platform designed to assist women in Nigeria’s Micro, Small and Medium Enterprises (MSME) sector move from managing to leading and from surviving to scaling sustainably. The conference, with the theme: “Grow,” is...
In a decisive move to shore up Nigeria’s revenue base, the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has teamed up with the Federal Inland Revenue Service (FIRS) to launch a nationwide revenue recovery initiative aimed at reclaiming unremitted funds owed to the Federation Account. The collaboration was formally...
Senior leaders of the Shell Energy Nigeria organisation have said that Nigeria needs sustained actions to attract and retain investments in the gas sector to ensure economic growth and industrialization. They stated this during the 3rd edition of the Gas Investment Forum which held in Lagos this week. Investments...
World Bank Group is rolling out a new strategic roadmap aimed at mobilising private capital and accelerating job creation, particularly in developing economies. Speaking during a plenary session at the institution’s Annual Meetings in Washington, President Ajay Banga announced the development of the IFC2030 Strategy, designed to unlock greater...
Central Bank of Nigeria (CBN) Governor, Yemi Cardoso, has said the government’s recent economic reforms are not only visible but are beginning to yield meaningful impact on the economy. Speaking in Washington, D.C., at the conclusion of the 2025 Annual Meetings of the International Monetary Fund (IMF) and the...
In a move aimed at enhancing collaboration and capacity building in central banking, the Central Bank of Nigeria (CBN) and the Bank of Angola on Thursday signed a Memorandum of Understanding (MoU) to promote bilateral cooperation. The agreement was formalised in Washington D.C., on the sidelines of the IMF/World...
Nigeria’s inflation rate has fallen to 18.02%, marking its lowest level in three years and continuing a six-month streak of decline, according to the Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso. Speaking in Washington on Thursday during the ongoing IMF and World Bank Annual Meetings, Cardoso...
The Nigeria Social Insurance Trust Fund, (NSITF), has taken the sensitization campaign for enrollment of workers in the informal sector of the Nigerian economy on the Employees’ Compensation Scheme (ECS) to industrial city of Nnewi in Anambra State. The campaign, led by the Fund’s Managing Director and Chief Executive,...
Nigeria’s trade surplus has risen to six percent of the country’s Gross Domestic Product (GDP), according to the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso. Cardoso disclosed this while speaking at the ongoing IMF/World Bank Group Annual Meetings in Washington, D.C., where he is leading Nigeria’s...
Shell Nigeria Exploration and Production Company Limited (SNEPCo), a subsidiary of Shell plc, together with Sunlink Energies and Resources Limited, have taken a final investment decision (FID) on the HI gas project offshore Nigeria. A statement issued by the company in London on Tuesday hinted that when completed, the...
Access Bank Plc has taken a major step toward seamless intra-African payments with the recent integration of the Pan-African Payment and Settlement System (PAPSS) into its flagship mobile application, AccessMore. This strategic move underscores Access Bank’s commitment to enhancing cross-border payment experiences for its customers across the continent, the...
Federal Government of Nigeria has taken a major step toward restoring financial stability and investor confidence in the electricity market with the finalization of the implementation framework for the Presidential Power Sector Debt Reduction Plan, a landmark initiative approved by President Bola Ahmed Tinubu to address structural bottlenecks and...
President Bola Ahmed Tinubu has welcomed the news of Shell’s $2 billion Final Investment Decision (FID) on a new gas project in the shallow offshore HI Field, in OML 144. A statement issued by the presidential spokesman, Bayo Onanuga, said the new Non-Associated Gas (NAG) development project will deliver...
Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced a major milestone in community-focused oil sector reforms, revealing that the Host Community Development Trust (HCDT) fund has grown to ₦373 billion as of October 13, 2025. The disclosure was made in a statement issued on Monday by the Commission’s Head...
Amid rising concerns over the surging cost of Liquefied Petroleum Gas (LPG), also known as cooking gas, both consumers and retailers are urging the Federal Government to take immediate steps to stabilise prices and ensure consistent availability across the country. Speaking with the News Agency of Nigeria (NAN) on...
By DAVID IORJA, Abuja- Central Bank of Nigeria (CBN) Governor, Mr Olayemi Cardoso, will lead Nigeria’s delegation to the World Bank and International Monetary Fund Annual Meeting in Washington DC, which opens on Monday, October 13. A statement issued by the presidential spokesman, Bayo Onanuga, said Cardoso, as the...