The Organised Private Sector of Nigeria (OPSN) has criticised the Central Bank of Nigeria’s decision to maintain the Monetary Policy Rate (MPR) at 27.5 per cent, warning that the current interest rate environment continues to stifle business growth and investment across sectors. The CBN Governor, Mr. Olayemi Cardoso, announced the policy stance during a press
ABEOKUTA — The Ogun II Area Command of the Nigeria Customs Service (NCS) has recorded a 40 percent increase in revenue generation in the first quarter of 2025, signaling a significant improvement in its operational performance. The Area Controller, Deputy Comptroller Ahmadu Bello Shuaibu, disclosed this on Tuesday during a media briefing at the command’s
ABUJA — The Federal Government has called on operators in the Nigerian capital market to intensify efforts aimed at boosting investor confidence and enhancing financial literacy among Nigerians. During a recent stakeholders’ forum held in Abuja, officials emphasized that a robust capital market is essential for the country’s economic growth and development. They urged market
In a significant step towards deepening economic ties between Nigeria and China, the Federal Government has given the green light to Chinese investors to establish electric vehicle manufacturing plants across Nigeria. This move comes as part of efforts to harness the nation’s vast solid mineral resources and promote local industrialisation. The Chinese Ambassador to Nigeria,
President Bola Ahmed Tinubu has approved the issuance of all key regulatory licences necessary to kickstart full operations at the Kolmani Integrated Development Project, a landmark oil exploration venture located along the boundary between Bauchi and Gombe States in Northern Nigeria. The development was revealed by the Minister of State for Petroleum Resources (Oil), Senator
The Senate has raised alarm over the worsening financial crisis in Nigeria’s power sector, revealing that the Federal Government’s unpaid debts to electricity generation companies have surged to N800 billion in just five months. This development, according to lawmakers, further compounds an existing debt profile in the sector that is already above N3 trillion. Senator
If you are considering investing in land in Lagos this year, Lekki, Ajah, and Ikoyi are likely to dominate your search. These three areas are not only popular but have also emerged as key players in the city’s ever-evolving real estate landscape. Whether you are a first-time buyer or an experienced investor looking to expand
At its 43rd Annual General Meeting (AGM) today, SWAgCo, the agricultural subsidiary of the company, announced the signing of three major joint venture (JV) agreements worth ₦10 billion. These landmark deals underscore the company’s ongoing commitment to driving agro-industrial transformation and advancing food security, particularly within the south-western region of Nigeria. The agreements, which were
ABUJA — In a major push to modernize administrative processes and promote ease of doing business, the Federal Government of Nigeria has launched a comprehensive digital platform designed to handle citizenship and business permit applications seamlessly. The new system, known as the Online Citizenship and Business Department Management System (CBMS), was unveiled by the Ministry
ABUJA — In a strategic move aimed at enhancing private sector development and attracting foreign investment, Nigeria has officially joined the European Bank for Reconstruction and Development (EBRD), becoming the latest African nation to align with the multilateral financial institution. The announcement was confirmed this week following the conclusion of formal accession procedures, positioning Nigeria
