In a strategic move to accelerate the implementation of the African Continental Free Trade Area (AfCFTA), the Federal Government has inaugurated a central coordination committee to oversee the process and drive Nigeria’s participation in the landmark trade agreement. Speaking at the inauguration ceremony in Abuja, the Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole,
The Nigeria Economic Summit Group (NESG) has warned that achieving the nation’s crude oil production target of 2.2 million barrels per day hinges significantly on political stability in Rivers State, following recent tensions in the oil-rich region.Dr. Tayo Aduloju, Chief Executive Officer of NESG, issued this caution during a media interaction following the launch of
The Executive Director of FATE Foundation, Adenike Adeyemi, has highlighted sound financial management as a critical success factor for mission-driven organizations, warning that even the most noble initiatives risk collapse without proper financial discipline.Speaking as the keynote presenter at the Lagos launch of “The Profit of Purpose: Mastering Financial Accounting and Reporting for Social Entrepreneurs,”
Nigeria’s Monetary Policy Rate (MPR) of 27.50 percent currently stands as the fifth highest in the world, according to Professor Mustapha Akinkunmi, a member of the Central Bank of Nigeria’s Monetary Policy Committee.In his personal statement following the 299th MPC meeting held in February, Akinkunmi revealed that only four countries maintain higher benchmark interest rates
DEFENCE DIPLOMACY: Bilateral Agreement Sets New Partnership MilestoneIn a significant diplomatic stride, Nigeria and Germany have solidified their commitment to regional security through a comprehensive Memorandum of Understanding (MoU) signed in the nation’s capital, Abuja, marking a pivotal moment in bilateral defence collaboration.Key DevelopmentsStrategic Partnership UnveiledThe ceremonial signing, which took place on Friday, March 28,
Global Financial Watchdog Signals Critical Intervention for Nigeria’s Struggling PopulationsIn a landmark statement that underscores the pressing economic challenges facing Africa’s most populous nation, the International Monetary Fund (IMF) has issued an urgent appeal to the Nigerian government to accelerate its cash transfer program, positioning it as a crucial lifeline for millions of vulnerable citizens.High-Level
The Nigerian National Petroleum Company Limited (NNPCL) has disclosed that it is in the final stages of preparation for its much-anticipated listing on the capital market, in compliance with the Petroleum Industry Act (PIA) 2021. In a statement issued on Thursday in Abuja, NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, confirmed the development, highlighting the
President Bola Tinubu has approved the appointment of four new members to the Governing Council of the Nigerian Content Development and Monitoring Board (NCDMB), reinforcing the administration’s commitment to strengthening local content in Nigeria’s oil and gas industry. New Appointees to the NCDMB Council The newly appointed members represent key institutions and stakeholders within the
The Alake and Paramount Ruler of Egbaland, Oba Adedotun Gbadebo, has called on Nigerian youths to take advantage of agriculture as a means to tackle food insecurity and unemployment in the country. Speaking ahead of the 2025 Lisabi Festival at his Ake Palace in Abeokuta, Ogun State, the revered monarch highlighted the alarming rate of
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has reaffirmed the apex bank’s commitment to stabilizing the foreign exchange market, vowing to eliminate bad actors whose activities contribute to the volatility of the naira. This comes as the naira depreciated slightly at the official foreign exchange market on Tuesday, closing at N1,532.39/$,
