Economy
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Nigeria joins Saudi Arabia-led maritime alliance to secure Red Sea shipping
Nigeria has joined Saudi Arabia and 13 other countries in endorsing a proposed multinational maritime security alliance aimed at protecting commercial shipping, global energy corridors and freedom of navigation in the Red Sea and surrounding waterways. The decision marks Nigeria’s entry into a major international security initiative spearheaded by Saudi Arabia amid growing attacks on commercial vessels, oil tankers and…
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NITDA rallies stakeholders to harness emerging technologies for inclusive growth
The National Information Technology Development Agency (NITDA) has renewed its call for stronger collaboration among government, industry, academia and technology professionals to accelerate digital innovation and position Nigeria for inclusive economic growth. The Agency made the call at the 20th edition of the Nigeria Computer Society (NCS) International Conference 2026 in Jos, Plateau State, where it emphasized the need to…
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Eko Atlantic could surpass Dangote Refinery’s GDP impact, says Chike-Obi
Former Chairman of Fidelity Bank, Mustafa Chike-Obi, has said Eko Atlantic City could eventually contribute more to Nigeria’s Gross Domestic Product (GDP) than the Dangote Petroleum Refinery because of its broader economic and employment potential. Speaking on Thursday during the Policy Without Politics podcast, which he co-hosts with Ken Ikpe, Chike-Obi said while the Dangote Refinery has transformed Nigeria’s downstream…
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FG rules out electricity tariff hike, targets better power supply
The Minister of Power, Joseph Tegbe, has said the Federal Government has no plans to increase electricity tariffs beyond the current level, stressing that the Tinubu administration’s immediate focus is on improving power supply, expanding metering, and ensuring consumers pay only for the electricity they use. Speaking during a media briefing in Abuja on Friday, Tegbe said Nigeria has consistently…
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NNPC markets AKK Gas Pipeline to investors at Minna forum
The Nigerian National Petroleum Company (NNPC) Limited has unveiled investment and business opportunities along the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline, urging investors and energy operators to take advantage of the project to increase domestic gas utilisation and industrial development. The opportunities were presented on Thursday at the 2026 Energy Business Development Forum held at the Government House in Minna, Niger State.…
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Presco Plc to invest $200m in Ondo oil palm project
Agro-industrial firm, Presco Plc, has announced plans to invest an initial $200 million in Ondo State to develop large-scale oil palm plantations, a processing mill and a refinery as part of efforts to expand local production and strengthen Nigeria’s agricultural value chain. The investment was unveiled on Friday during a visit by the company’s management to Governor Lucky Aiyedatiwa in…
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Sanwo-Olu urges stakeholders to invest in Nigeria’s tourism sector
Lagos State Governor Babajide Sanwo-Olu, has called for greater investment in Nigeria’s tourism sector, saying sustainable growth depends on infrastructure, policy stability and strong public-private partnerships. The governor made the call through the Permanent Secretary, Lagos State Ministry of Tourism, Arts and Culture, Mrs. Bopo Oyekan-Ismaila, at the 2026 BusinessDay Tourism Conference held in Ikeja, Lagos. Speaking on the theme,…
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FG deployed fuel subsidy savings to service rising debt obligations, says Oyedele
Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele on Thursday revealed that the petrol subsidy savings were deployed to servicing rising debt obligations, implementing the new national minimum wage and financing student loans. Oyedele in a question-and-answer session at the Seventh Africa Emerging Market Forum in Abuja added that part of the savings were channeled towards…
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Nigeria, Canada resume direct flight talks August 6
Nigeria and Canada will resume negotiations on establishing direct flight operations on August 6 as both countries seek to resolve outstanding issues delaying the launch of air services between them. The Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed this on Wednesday while receiving Canada’s Chargé d’Affaires to Nigeria, David Sproule, and other Canadian officials in Abuja. According to…
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NCC, REA sign MoU to drive digital infrastructure expansion
The Nigerian Communications Commission (NCC) and the Rural Electrification Agency (REA) have formalised a strategic partnership to accelerate the deployment of sustainable digital infrastructure across Nigeria through the integration of renewable energy solutions and telecommunications infrastructure. The partnership was sealed with the signing of a Memorandum of Understanding (MoU) at the NCC–REA Stakeholder Workshop held at the NCC Annex Office…
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