The World Bank is expected to approve $1.13 billion in loans for Nigeria by the end of March 2025. These funds are allocated to support various critical reforms and initiatives aimed at boosting the nation’s economic resilience, health systems, and education sector. Three major projects are currently in the negotiation phase, with approvals anticipated this
The Niger Delta Youth Council has written to President Bola Tinubu, threatening to shut down oil production across the region if their demands are not met within seven days. At the center of the dispute is the ongoing political crisis in Rivers State, where Governor Siminalayi Fubara is facing impeachment threats. The youths are demanding:
The Kaduna State Government has launched an electric vehicle (EV) loan initiative aimed at providing affordable and sustainable transportation for civil servants. The program, which offers subsidized loans for electric motorcycles and tricycles, was inaugurated on Friday by Governor Uba Sani at Murtala Square, Kaduna. Under the scheme, state employees will have access to salary-deductible
Dangote Petroleum Refinery has announced a further reduction in the loading cost of petrol, lowering it from N825 per litre to N815 per litre on Thursday. The move intensifies competition in Nigeria’s downstream sector, prompting shifts in market dynamics. Industry reports indicate that marketers are capitalizing on the N10 price reduction, choosing to source directly
The government of Abia State has forged a strategic partnership with ipNX, one of Nigeria’s leading information and communications technology (ICT) companies, to bolster digital connectivity and accelerate the state’s burgeoning digital economy. This collaboration aims to position Abia as a hub for technological innovation and economic development. The partnership, announced on Thursday, represents a
The Federal Government has announced plans to collaborate with the private sector to roll out 7,000 telecommunications towers starting next year. This initiative aims to expand network coverage and enhance digital connectivity across Nigeria. Dr. Bosun Tijani, the Minister of Communications, Innovation, and Digital Economy, shared this development during a stakeholder engagement session organized by
The Ministry of Economic Planning and Budget has launched the 2025 Lagos Economic Development Update, which highlights the strategies for economic resilience, fiscal sustainability, and revenue mobilization of the state. According to a statement from the ministry, the Commissioner for MEPB, Ope George, who spoke at the launch of the report on Wednesday, emphasized that
The Nigeria Customs Service has commenced training and sensitization for officers and stakeholders in Zone A on its new Automated Transire Process. The service added that the training and port stakeholders’ engagement, which took place at the Apapa Customs Command, is expected to reduce cargo clearance time, minimize opportunities for human contact and corruption, and
The Nigerian stock market recorded an N48bn decline in market capitalisation at the close of trading on Wednesday, as bearish sentiments pushed the NGX All-Share Index down by 0.07 per cent to 106,090.38 points. This marked a 0.33 per cent loss in one week and a 1.61 per cent decline over four weeks, despite a
The Dangote Refinery, Africa’s largest oil refinery, is reportedly considering increasing its crude oil imports from Angola and Algeria, as discussions are ongoing over the naira-for-crude arrangement with the Nigerian government. This development comes as the Nigerian government engages in discussions to finalise a naira-for-crude deal, aimed at strengthening the local currency and reducing dependency
