Abuja, Nigeria – June 18, 2025The Abuja Chamber of Commerce and Industry (ACCI) has projected that Nigeria’s emerging space industry holds the potential to contribute up to $1 billion to the national Gross Domestic Product (GDP), if properly harnessed. This was revealed during a recent stakeholders’ engagement session hosted by the ACCI in partnership with
PZ Cussons Plc has officially agreed to divest its 50 percent stake in PZ Wilmar Limited to its joint venture partner, Wilmar International Limited, in a transaction valued at $70 million. This move marks PZ Cussons’ complete exit from the Nigerian palm oil industry, which it helped establish back in 2010. The deal, pending regulatory
Lagos, Nigeria – June 18, 2025The Nigerian naira continued its bullish momentum on Tuesday, appreciating to below ₦1,600 per dollar in the parallel market, as the U.S. dollar showed signs of weakening amid shifting global currency dynamics. Market sources revealed that the naira exchanged between ₦1,580 and ₦1,595/$, marking one of its strongest performances in
Abuja, Nigeria – June 16, 2025 — Speaking at the Fourth Annual Africa Sovereign Investors Forum (ASIF) in Kigali, President Bola Ahmed Tinubu urged African leaders and institutions to embrace collective action and responsibly deploy the continent’s sovereign wealth for sustainable development. Tinubu emphasised that Africa’s sovereign wealth funds, strategic investment vehicles, pensions, and insurance
Abuja, June 17, 2025 — The Federal Competition and Consumer Protection Commission (FCCPC) has summoned Air Peace Limited, responding to a surge of public complaints accusing the airline of refusing to refund ticket fares—even in instances where it cancelled flights. Under sections 130(1)(a),(b) and 130(2)(b) of the Federal Competition and Consumer Protection Act 2018, consumers are entitled to
Abuja, Nigeria | June 16, 2025 –Nigeria’s bilateral agreements with global aircraft manufacturers Boeing and Airbus face potential delays due to a worsening global shortage of commercial aircraft, aviation authorities have disclosed. According to the Federal Ministry of Aviation and Aerospace Development, the global backlog in aircraft production, exacerbated by supply chain disruptions and rising
Lagos, Nigeria – June 16, 2025The Centre for the Promotion of Private Enterprise (CPPE) has raised alarm over the potential economic impact of the escalating conflict between Israel and Iran, warning that Nigeria’s already fragile economy could face further pressure. In a statement issued on Monday, the CPPE said the deepening Middle East crisis poses
Pay-TV giant explores flexible pricing to counter shrinking user base and economic pressure In a quiet but potentially transformative move, MultiChoice, the parent company of DStv, has begun piloting weekly subscription plans in Uganda, a significant departure from its traditional monthly billing cycle. The trial, which has been running for the past seven weeks, offers
Amid rising fears of fuel scarcity in Lagos and other parts of Nigeria, the Dangote Petroleum Refinery has announced the commencement of a nationwide distribution of petrol and diesel starting August 15, 2025. This move comes at a time when fuel tanker drivers and marketers have vowed to halt loading operations, citing high charges under
Abuja | June 15, 2025 Nigeria exported firewood and charcoal worth a total of N65.85 billion between April 2024 and March 2025, according to data released by the National Bureau of Statistics (NBS) in its latest foreign trade report. The report, which highlighted Nigeria’s top non-oil exports, revealed that the firewood and charcoal sector experienced
