Author: Mujeedat

The President of the Nigerian Council of Registered Insurance Brokers (NCRIB), Mrs Ekeoma Ezeibe, has urged Nigeria’s insurance sector to take a more prominent role in the country’s development by financing, de-risking and sustaining critical infrastructure. She made the call at the opening of the 2026 National Insurance Brokers Conference and Exhibition in Abuja, where she said insurers could no longer limit themselves to reacting to risks after they occur. According to her, the industry should actively help mobilise long-term capital for projects such as roads, railways, power facilities, ports, digital networks and climate-resilient infrastructure needed to drive…

The global oil market is facing renewed supply pressure as the cost of transporting crude oil has risen by about seven times over the past year. The development is adding strain to petroleum markets even as Middle Eastern producers work to restore export volumes disrupted by the conflict involving Iran. Goldman Sachs said in an October 20 research note that average international crude freight costs have risen above $20 per barrel, compared with about $3 a year earlier. On some Middle Eastern routes, transportation costs have exceeded $35 per barrel. The investment bank warned that if…

Strategic partnerships have been identified as crucial to accelerating Nigeria’s transition to Compressed Natural Gas (CNG), a move aimed at reducing dependence on fossil fuels, lowering transportation costs and strengthening climate resilience. The National Compressed Natural Gas Forum (NCNG-F) has therefore called on transport unions, organised labour, private-sector organisations and financial institutions to intensify efforts to promote CNG as an alternative to petrol and diesel for transportation in Nigeria. The forum said stronger collaboration among government agencies, industry operators, financial institutions and organised groups was necessary to make CNG more accessible, affordable, safe and reliable for Nigerians. …

Russia’s refining industry continues to face operational difficulties and may lack the capacity to help balance the struggling global diesel market, even after the United States agreed to ease restrictions affecting the country’s petroleum exports amid ongoing global fuel shortages. The shortages have continued to put pressure on transportation and industrial operating costs worldwide. Shipping data indicate that Russian diesel exports have averaged about 345,000 barrels per day this year, a 41 per cent decline from 2025. For refiners, tight diesel supplies have supported stronger processing margins, although higher crude acquisition costs and operational expenses can reduce…

The African Development Bank (AfDB) and the United Nations Development Programme (UNDP) have announced plans to accelerate an initiative to mobilise $10 billion for artificial intelligence in Africa, with the goal of helping to create 25 million jobs by 2035. The potential economic impact is enormous. However, the jobs and wealth that AI can generate are not limited to sectors that use the technology; they also lie in the industry that makes AI possible. Africa cannot afford to remain merely a customer in those markets. With so much attention focused on ChatGPT, it is easy to overlook…

Nigeria has recorded 2.77 million digital training certifications against its target of 50 million by 2027, according to figures released by the National Information Technology Development Agency (NITDA) on Tuesday, October 20. The achievement represents just 5.54 per cent of the national target, although the figure does not necessarily mean that 2.77 million different people have received training, as private companies account for a significant share of the reported results. Of the 252 organisations that submitted data to the new national dashboard, 151 are businesses. Cisco leads with about 1.07 million reported training completions, followed by NITDA…

The Nigerian Maritime Administration and Safety Agency (NIMASA) has stepped up its crackdown on maritime operators who violate Nigeria’s Cabotage regulations, detaining four vessels in Lagos waters as part of a renewed drive to protect indigenous participation in the country’s coastal shipping trade. The vessels, identified as MT HOLMES, MT FUJAIRAH ENERGY, JS GRATITUDE and MT BORA, were arrested during a targeted enforcement operation codenamed Operation Sea Guardian. NIMASA said some of the detained vessels have since been released after their operators regularised the identified infractions. The operation signals a tougher approach by the Agency towards enforcing…

The Acting Comptroller of Federal Operations Unit Zone ‘C’, Owerri Deputy Comptroller of Customs Farouk Nadaniya has paid courtesy visits to security agencies in Owerri Imo State. The visits provided an opportunity for meaningful engagements, relationship building and deliberations on mutual interest particularly the need to sustain peace, promote security and enhance cooperation between the relevant institutions. In the course of the courtesy visit, which began on Friday, 16 October 2026. The Acting Comptroller paid visits to various security agencies including the Nigeria Police Force (NPF) Imo State command, the Department of State Services (DSS), The Nigeria Security…

The Tin Can Island Port Complex (TCIPC) of the Nigerian Ports Authority (NPA) and the Maritime Correspondents’ Organisation of Nigeria (MARCON) have pledged to deepen their collaboration to promote public understanding of port operations and improve information dissemination. The Head of Tariff and Billing at TCIPC, Dr Ubolur Julius, gave the assurance when MARCON executives visited the port to strengthen cooperation between both organisations. Julius, who represented the Port Manager, Abubakar Sani Isa said the NPA recognises the critical role of maritime journalists in educating the public about port operations and is willing to collaborate with the organisation…

The Nigeria Customs Service (NCS) has recorded significant operational outcomes through its participation in Operation GEO-CONTROL, conducted under the World Customs Organisation (WCO)–Japan International Cooperation Agency (JICA) Joint Project. The operation, implemented from 29 June to 8 July 2026 along the Benin–Nigeria border corridor, brought together the Service and the Benin Directorate General of Customs under WCO coordination, with JICA support. The operation marked the first operational deployment of Geospatial Intelligence (GEOINT) capabilities developed through the GEOINT Master Trainer Programme for West Africa, completed in February 2026. It was designed to demonstrate the practical application of geospatial intelligence…