Development Finance Institutions (DFIs) emerged as the standout winners at the 2025 edition of the prestigious African Banker Awards, held during the Annual Meetings of the African Development Bank (AfDB) in Abidjan, Côte d’Ivoire. The gala event, which drew over 500 of the continent’s most influential figures in banking and finance, showcased the growing influence
Lagos — Nigeria’s private sector is grappling with mounting challenges as persistent cost pressures and declining business confidence threaten to slow economic recovery, analysts warn. The combination of rising input prices, inflationary pressures, and cautious consumer spending is straining businesses across key industries, raising concerns about the sustainability of growth. Recent economic data from the
The Nigeria Deposit Insurance Corporation (NDIC) has called on financial sector stakeholders, policymakers, and the general public to actively participate in the ongoing review of the International Association of Deposit Insurers (IADI) Core Principles for Effective Deposit Insurance Systems. The Corporation emphasized that this review process is vital to strengthening the resilience and relevance of
ABUJA — After several months of high borrowing, credit extended to the Federal Government dropped significantly to N23.55 trillion in April 2025 — the lowest figure recorded in the past 12 months, according to the latest data from the Central Bank of Nigeria (CBN). The reduction signals a shift in the government’s borrowing strategy, potentially
Inspector-General of Police (IGP) Olukayode Adeolu Egbetokun has reaffirmed the Nigeria Police Force’s commitment to strengthening security within the nation’s marine and blue economy sectors. This assurance was given during a meeting with the Executive Secretary of the Nigerian Shippers’ Council (NSC), Dr. Akutah Pius Ukeyima, at the Force Headquarters in Abuja. The IGP emphasized
Port Harcourt, June 3, 2025 — Green Energy International Limited (GEIL) has officially commissioned the Otakikpo onshore crude oil export terminal, the first indigenous oil terminal of its kind in Nigeria. Located in the OML 11 block near Port Harcourt, Rivers State, the $400 million terminal is set to transform Nigeria’s crude evacuation process by
The Managing Director of Lanre Shittu Motors (LSM), Mr. Taiwo Shittu, has made a passionate appeal to the Federal Government to urgently revive and legislate Nigeria’s automotive policy, warning that the nation’s auto industry cannot survive or attract serious investment without a solid and consistent framework. Speaking in a detailed interview, Shittu expressed optimism about
In a heartfelt plea to citizens, President Bola Ahmed Tinubu has called on Nigerians to exercise patience with his administration, assuring the nation that the current sacrifices being made are not in vain and that the promise of a better Nigeria remains within reach. The President made the appeal during the official inauguration of Phase
In a bold move to address Nigeria’s rising youth unemployment and stimulate industrial development, the Federal Government has launched a comprehensive Technical and Vocational Education and Training (TVET) programme aimed at equipping young Nigerians with job-ready skills that meet global standards. Speaking at the unveiling ceremony in Abuja on Friday, Minister of Education, Prof. Tahir
The Advertising Regulatory Council of Nigeria (ARCON) has launched a formal investigation into an outstanding ₦1 billion debt linked to mobile advertising operations in the country. The regulatory body says it is determined to hold defaulters accountable while ensuring full enforcement of Nigeria’s advertising laws and ethical standards. In a statement issued by its Director-General,
