Author: Mujeedat
The Securities and Exchange Commission (SEC) has confirmed that the adoption of the T+1 settlement cycle in Nigeria’s capital market is progressing seamlessly, describing the development as a major boost to the market’s competitiveness and a source of relief for investors. The Director-General of the SEC, Dr. Emomotimi Agama, made this known in an interview with journalists in Abuja at the weekend. Represented by the Director, Registration, Exchanges and Market Infrastructure, Mrs. Hafsat Rufai, Agama said both local and international investors have expressed satisfaction with the new settlement cycle. “Feedback from them has been excellent. They are happy…
The Nigeria Customs Service, (NCS), Tin Can Island Port Command have again intercepted a consignment of arms, seizing 204 pump-action rifles concealed among household goods. This latest seizure comes barely three weeks after the Command intercepted knocked-down pump-action rifle components and cannabis-infused snacks at the same port. According to the Service, the 20-foot container was declared as containing used household items. It arrived from Turkey aboard the vessel MV Algeciras Express on August 16, 2026, and was flagged for examination two days later following credible intelligence. A 100 per cent physical examination led to the discovery…
Lagos is set to host key players in Nigeria’s maritime sector as industry leaders, regulators, policymakers and experts converge for the 2026 Maritime Training Summit and Awards of the Association of Maritime Journalists of Nigeria (AMJON), with the Nigerian Maritime Administration and Safety Agency (NIMASA) partnering the Association to advance discussions on the development of the nation’s Blue Economy. The summit, scheduled to hold at the Sheraton Hotel, Lagos, will bring stakeholders together to examine innovation-driven training, human capital development and other critical factors required to position Nigeria’s maritime sector for greater economic growth. Themed “The Power of…
Fifty officers of the Nigeria Customs Service (NCS) have completed the three-month Junior Course 25 at the Nigeria Customs Command and Staff College (NCCSC), Gwagwalada, Abuja, marking a key advancement in their professional leadership careers. Speaking as the Special Guest of Honour at the graduation ceremony on Friday, Comptroller-General of Customs (CGC) Adewale Adeniyi charged the graduates to uphold integrity, sound judgment, and national interest over personal gain. He stressed that leadership in modern Customs administration requires competence and accountability beyond routine revenue generation. Leadership is not defined solely by the rank that you wear, but is…
Analysts are warning of escalating shortages of refined fuels as global refining capacity has contracted significantly over the past decade, with ongoing conflicts in the Middle East and Russia-Ukraine further straining supply chains and pushing prices higher. According to a World Oil report, Europe is now grappling with the consequences of these developments, with diesel prices rising 70 per cent higher than they were in February due to the continent’s heavy dependence on imported fuels. Almost half of the world’s oil supply is produced in regions currently engaged in active conflicts, Reuters reported during the week, raising serious…
Chevron Nigeria Limited (CNL), operator of the Nigerian National Petroleum Company Limited and CNL Joint Venture, has urged the Federal Government to create a more predictable and transparent regulatory environment to attract sustained investment in the oil and gas sector. Speaking at an energy event in Abuja, Jim Swartz, Chairman and Managing Director of Chevron companies in Nigeria and the Mid-Africa Region, identified inconsistencies in Nigeria’s regulatory framework as a key source of investment uncertainty that must be addressed. Swartz remarked that resources alone are not enough to guarantee success, emphasising that what makes the difference is the…
Nigeria’s imports of fresh and frozen red meat, which totalled nearly $8.7 million in 2025, could rise further as the country opens its market to a wider range of U.S. beef and pork products, giving American suppliers a new foothold in Africa’s most populous nation. According to data compiled by Trade Map, South Africa and several European Union countries, including Spain, France and Belgium, were the main suppliers of Nigeria’s red meat imports in 2025. Beef accounted for nearly 73 per cent of the import bill, followed by sheep meat at 22 per cent, with pork making up the…
Dangote Industries is moving to acquire its own vessels to transport petroleum products from Nigeria to markets across West and Central Africa, following a dearth of marine infrastructure to meet regional demand by road. Currently, limited shipping capacity and the high cost of road transport complicate the group’s regional expansion plans. The move is significant because Dangote’s businesses are becoming increasingly dependent on maritime trade. Its $20 billion refinery in Lagos is already reshaping Nigeria’s seaborne trade, with the U.S. Energy Information Administration saying this week that Nigeria’s petroleum-product exports by sea have grown seven-fold since 2023,…
Nigeria LNG Limited’s Managing Director, Adeleye Falade, has used a high-profile meeting with President Bola Tinubu to press for a streamlined tax and regulatory framework, warning that overlapping levies and charges are driving up costs and threatening future investment in the gas sector. The appeal came as Falade briefed the President on the advanced state of the Train 7 expansion project, now more than 90 per cent complete, which is set to significantly boost Nigeria’s liquefied natural gas (LNG) production capacity and export earnings. Speaking at the State House, Falade told Tinubu that multiple and sometimes conflicting fiscal…
The Nigerian Independent System Operator (NISO) has stepped up enforcement of free governor control compliance across the country’s generation fleet, introducing field inspections, conditional derogations with fixed expiry dates and a penalty framework aligned with Nigerian Electricity Regulatory Commission (NERC) directives. Engineer Abdu Bello Mohammed, Managing Director and Chief Executive Officer of NISO, disclosed the measures while speaking at the 2026 hydro generation planning meeting in Niger State, as the Federal Government continues efforts to strengthen the national power supply chain. Mohammed said the push on governor compliance is about converting stated plant flexibility into demonstrable, contractually reliable…