Economy
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FG, Fashion Academy launch training programme for aspiring designers
The Federal Ministry of Art, Culture, Tourism, and the Creative Economy has announced a partnership with The Fashion Academy, Abuja, to launch a designer training programme under the Creative Leap Acceleration Program (CLAP). The initiative, unveiled on Monday, is aimed at empowering emerging designers, tailors, and creative entrepreneurs with technical and business skills to thrive in Nigeria’s expanding fashion industry.…
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Nigeria pushes tech-driven agriculture as Africa rallies for global food security at UN summit
By Kunle Sanni – Nigeria and other African nations have called for urgent global action to tackle food insecurity, citing the growing impact of climate change, conflict, and economic shocks on food systems across the continent. Speaking at the opening of the UN Food Systems Summit +4 (UNFSS+4) in Addis Ababa, Nigeria’s Vice President, Senator Kashim Shettima, said the country…
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NDIC plays crucial role in march to economic stability, Wale Edun to new management
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun has charged the new management of Nigeria Deposit Insurance Corporation (NDIC) of its crucial role to play in the nation’s march to economic stability and prosperity. He stated this during the inauguration ceremony of the new Managing Director/Chief Executive Officer of the NDIC, Mr. Thompson Oludare Sunday…
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NGML, Zuid Energies sign agreement for CNG, LNG infrastructure in Kogi
NNPC Gas Marketing Limited (NGML), a subsidiary of the Nigerian National Petroleum Company Limited, has signed a Joint Venture agreement with Zuid Energies Limited for the development of critical gas infrastructure in Ajaokuta, Kogi State. The agreement, which was formalised on Friday during the Mobility-CNG Stakeholders’ Workshop in Abuja, will see the establishment of a 6 million standard cubic feet…
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‘We will verify ₦4 Trillion debt before payment’ – Tinubu tells GENCO owners
By Kunle Sanni – President Bola Tinubu has told electricity generation companies (GENCOs) that the federal government will thoroughly verify and validate the ₦4 trillion in outstanding debt claims before any payments are made. Speaking during a meeting with GENCO executives at the Presidential Villa on Friday, the President acknowledged the financial strain in the power sector but insisted that…
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DMO offers N80bn in bond auction for July 2025
The Debt Management Office (DMO), on behalf of the Federal Government of Nigeria (FGN), has announced the offer of N80 billion in FGN bonds for subscription via auction, slated for July 28, 2025, with settlement expected on July 30, 2025. This is according to a circular posted on DMO’s website. The offer comprises two re-openings of previously issued FGN bonds:…
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SEC grants “no objection” to FBN Holding’s controversial N323.4bn transaction
The Securities and Exchange Commission (SEC) on Thursday said it granted a “no objection” to the N323.4 billion transaction of FBN Holding Plc shares on the Nigerian Exchange Limited (NGX) that involved the exit of its erstwhile chairman, Dr. Oba Otudeko, who was a major shareholder. SEC in a statement stated that the no objection was granted after due consideration…
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Canal+ seals $3bn deal to acquire MultiChoice, eyes expansion across Africa
French media powerhouse Canal+ has finalized a $3 billion acquisition of South Africa-based MultiChoice Group, taking full control of leading pay-TV brands DStv and GOtv in a move poised to reshape Africa’s broadcasting landscape. The South African Competition Tribunal approved the deal on Wednesday, July 23, 2025, clearing the final regulatory hurdle for the long-anticipated takeover. With this acquisition, Canal+—which…
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Shettima defends Tinubu’s economic reforms, says Nigeria is ready for business
By Kunle Sanni – Vice President Kashim Shettima has declared that the bold economic reforms introduced by President Bola Tinubu are in the best interest of Nigerians, insisting that the administration remains committed to creating an enabling environment for serious business and investment. Speaking on Wednesday during a courtesy visit by the newly elected leadership of the Nigerian Association of…
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3.13% rebased GDP in Q1 2025 has laid foundation for sustained economic take-off, says Wale Edun
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, on Wednesday expressed that the 3.13 per cent rebased Gross Domestic Product (GDP) growth in first quarter of 2025 has laid foundation for sustained economic take-off, stressing that it also signals the country’s economic resilience and renewed momentum. The GDP rebasing—Nigeria’s first since 2014—was undertaken by the…
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