In a detailed presentation that has sent waves through Nigeria’s energy landscape, the Honourable Minister of Power yesterday showcased remarkable strides achieved within the first quarter of 2025, highlighting unprecedented progress in the nation’s power sector under the Renewed Hope Agenda.Speaking before an assembly of government officials and stakeholders, the Minister revealed that Nigeria achieved
The Central Bank of Nigeria (CBN) has issued a stern directive to banks, payment service providers, and fintech operators across the country, mandating them to reinforce their sanctions compliance frameworks or risk facing stiff regulatory actions. The directive, contained in a circular dated April 17, 2025, was signed by Amonia Opusunju on behalf of the
Turkey’s foremost oil refining company, Tupras, has ordered shipments of Nigerian crude oil for delivery in March and April, a development that could significantly bolster Nigeria’s export earnings as the country intensifies efforts to fund its 2025 budget through increased oil sales. According to shipping intelligence sourced from global commodities tracking firm Kpler, while the
The Federal Government has announced plans to introduce 1,900 megawatts (MW) of solar power into Nigeria’s national grid by constructing modular solar plants across 19 northern states. This initiative is aimed at diversifying Nigeria’s energy sources and addressing the nation’s ongoing power supply challenges. The development comes as part of broader efforts to boost the
Turkey’s largest oil refiner, Tupras, has placed orders for crude oil cargoes from Nigeria for delivery in March and April 2025, according to shipping data from Kpler. This move is part of Tupras’ diversified crude sourcing strategy amid shifting global oil markets and follows the company’s recent resumption of Russian Urals crude purchases after a
Universal Insurance Plc has settled a total of N3 billion in claims to policyholders who experienced losses during the 2024 operating year. The claims, which were made between January and December 2024, highlight the company’s dedication to supporting its customers despite the challenging business environment. In a recent statement, Dr. Jeff Duru, the Managing Director/CEO
The third edition of GITEX Africa 2025, held in Marrakech from April 14–16, culminated in a celebration of Africa’s tech ingenuity, with Nigeria’s startup ecosystem taking center stage. The event, attended by over 45,000 participants from 130+ countries and featuring 1,450+ exhibitors, saw Nigerian innovators Crop2Cash and Vinsight emerge as standout performers in the prestigious
The Federal Government has provided an update on the Lagos-Badagry Expressway and its connection to the broader Abidjan-Lagos Corridor Highway, a major infrastructure initiative aimed at enhancing regional connectivity across West Africa. In an interview with journalists on Thursday, Mrs. Olukorede Kesha, the Federal Controller of Works in Lagos, clarified Nigeria’s role in the regional
The House of Representatives has ordered leading financial technology firm, SystemSpecs Ltd—owners of the Remita platform—to remit a total of N182.77 billion back to the coffers of the Federal Government. This directive followed revelations from a forensic audit that exposed significant discrepancies in the handling of funds within the Treasury Single Account (TSA) since 2015.
The recently appointed Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd), Mr. Bayo Ojulari, has reaffirmed his unwavering commitment to delivering on the company’s strategic national mandates through purposeful collaboration with key stakeholders in the oil and gas sector. Ojulari gave this assurance on Wednesday during a courtesy visit to
