Author: Mujeedat
Nigeria is experiencing a sharp decline in oil export revenues despite ongoing fiscal reforms by the government, threatening the deployment of infrastructure projects across critical sectors. The World Bank’s Nigeria Economic Update, released in April 2025, forecasted that declining oil prices would negatively impact Nigerian growth in 2025 and 2026, directly affecting the government’s capacity to fund priority spending. In a bid to address the situation, the government introduced a policy in February 2026 requiring centralization of oil and gas revenues to improve control over financial flows between Nigerian National Petroleum Company Limited and the public treasury. However,…
Delta State Governor Sheriff Oborevwori has expressed profound grief over a deadly train accident in Agbor, Ika South Local Government Area, that killed four people and injured several others. In a statement released by his Chief Press Secretary Sir Festus Ahon, the Governor condolenced with the families of those who died and prayed for the quick recovery of victims undergoing treatment for injuries from the incident. Oborevwori described the accident as heartbreaking and unfortunate, noting that the loss of lives represented a painful tragedy for affected families and the state overall. He assured residents that the state…
Egypt’s Minister of Industry Khaled Hashem has called for the establishment of a stronger trade corridor between Egypt and Nigeria as part of efforts to expand industrial, investment, and trade cooperation under the African Continental Free Trade Area framework. During a series of high-level meetings with international officials and financial institutions at the 35th Annual Meeting and Business Forum of the European Bank for Reconstruction and Development in Riga, Latvia, Hashem discussed opportunities for deepening economic ties with key African partners. The minister held talks with Aminu Umar-Sadiq, Managing Director and Chief Executive Officer of the Nigeria Sovereign…
Securing Nigeria’s maritime gateway has taken a new boost as Comptroller JA Anani, the newly appointed Controller of Customs for Tincan Island Port Area Command, met with Ports Authority Police Command leadership to strengthen inter-agency cooperation. Anani paid a courtesy visit to Commissioner of Police Oluwatoyin Iyabode Agbaminoja on June 5, 2026, at the Ports Authority Police Command Headquarters in Apapa, Lagos. The visit was aimed at fostering stronger inter-agency collaboration and enhancing existing synergy between the Nigeria Customs Service and the Nigeria Police Force in securing the nation’s maritime domain. Speaking during the visit, Anani commended the…
Nigerian students received hands-on training in digital skills, artificial intelligence, online safety, insurance, and financial literacy at the third edition of the FIBOP Youth Capacity Building and Empowerment Programme held June 4, 2026. The event, organized by the Finance and Business Online Publishers Association, took place at the Lagos Chamber of Commerce and Industry in Alausa, Ikeja. Participants showed strong engagement throughout the programme, asking numerous questions and demonstrating genuine interest in mastering practical skills for tomorrow’s workforce. Charles Onwuatogwu, President of FIBOP, opened the event by highlighting education’s critical role in shaping the next generation. He stressed…
Tosin Eniolorunda, Founder and Group Chief Executive Officer of Moniepoint Inc, has urged the integration of credit products into Nigeria’s existing payment infrastructure, arguing that transaction data should be used to provide financing for small businesses excluded from formal credit markets. Eniolorunda voiced this position during a panel discussion at the official launch of the Nigeria Payments System Vision 2028 in Abuja. He described the framework as evidence of the payments ecosystem’s progress and a call for more deliberate infrastructure development. The next phase of growth will come from layering services like credit onto existing payment flows, using…
Retiring State House staff are among the first set of federal civil servants to benefit from the newly approved gratuity scheme introduced by President Bola Tinubu’s administration, according to Permanent Secretary of State House Mr. Temitope Peter Fashedemi. Fashedemi spoke on Thursday in Abuja at a send-off ceremony organised by the State House in honour of two retiring directors and two deputy directors. The Permanent Secretary commended President Tinubu for approving the reintroduction of gratuity payments for retiring federal civil servants in addition to their pensions and other retirement benefits. The Federal Executive Council in March 2026…
Grenada has positioned itself as a premier Caribbean investment destination for Nigerian entrepreneurs, offering visa-free entry and opening fresh opportunities across multiple sectors including aviation, tourism, real estate, healthcare, agriculture, and financial services. Bidemi Sonoiki, Honorary Consul of Grenada in Nigeria, announced the new opportunities during a press briefing in Lagos following a working visit to Grenada. The Honorary Consulate, established in Lagos in 2022, has been facilitating diplomatic, economic, educational, and cultural relations between both nations. Grenada now presents compelling opportunities for Nigerian investors seeking markets beyond Africa. We are witnessing emergence of strategic economic corridor between…
Dangote Petroleum Refinery & Petrochemicals has increased its crude oil processing capacity to 700,000 barrels per day in a performance test conducted by the Process Licensors, marking a significant milestone in the facility’s operational expansion and further cementing its position as the World’s Largest Single Train Petroleum Refinery. The increase sees the refinery surpass its nameplate capacity of 650,000 bpd, underlining the facility’s engineering capability and operational efficiency. The achievement demonstrates the refinery’s ability to process additional feedstock while optimizing performance across its production units. Vice-President for Oil and Gas at Dangote Industries Limited, Devakumar Edwin, explained that…
In an effort to further Internationalise its standard, the Maritime Centre of Excellence (MCOE), the NSML’s hub for maritime training, research, and competence development has successfully secured international certification from the UK Nautical Institute. The Managing Director of NSML Abdulkadir Ahmed made the disclosure at a media parley with Maritime Journalists held Thursday at Eko Hotel and Suites, Lagos. He emphasised that the certifications obtained by the MCOE affirm that the professionals trained by the centre meet high international expectations in performance, safety, and operational readiness. “This latest certification from the UK Nautical Institute is a strong…