Economy
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NCC seeks stronger African alliance for digital economy
The Nigerian Communications Commission (NCC) has called for stronger collaboration among African countries to enhance the continent’s influence in shaping global telecommunications and digital economy policies. This call was made by Dr Aminu Maida, Executive Vice Chairman and Chief Executive Officer of the NCC, at the opening ceremony of the 7th Ordinary Session of the African Telecommunications Union (ATU) Conference…
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PEBEC deploys QR-coded cameras to tackle extortion at Lagos ports
The Presidential Enabling Business Environment Council (PEBEC) has unveiled a technology-driven strategy to curb extortion and harassment along Nigeria’s port corridors, with the deployment of QR-coded surveillance systems and monitoring infrastructure at checkpoints around the Apapa and Tin Can Island ports. PEBEC Director-General, Princess Zahrah Mustapha Audu, disclosed this on Tuesday during an interactive session with State House correspondents at…
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UPDATED: Cautious monetary policy stance remains appropriate amid global uncertainties, says Cardoso
The Governor of Central Bank of Nigeria (CBN) Mr. Olalyemi Cardoso on Tuesday said a cautious monetary policy stance remains appropriate as global uncertainties have heightened due mainly to the renewed hostilities in the Middle East. He noted that the Monetary Policy Committee’s (MPC) decision to maintain the current policy stance followed a thorough assessment of the balance of risks,…
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FGN bonds: DMO records N1.74trn subscription, allots N929.3bn
Nigeria’s Debt Management Office (DMO) allotted N929.32 billion across three Federal Government of Nigeria (FGN) bond offerings at its July 2026 bond auction after investors submitted bids worth N1.74 trillion. This reflects sustained appetite for government securities despite lower allotments than the total amount subscribed The auction, held on July 20, 2026, featured the re-opening of the 22.60% FGN January…
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Power sector reforms: FG seeks investor support for second bond issuance
The federal government on Tuesday courted investors ahead of the second series of its Presidential Power Sector Financial Reforms Programme bond issuance, saying ongoing reforms in the electricity sector are restoring investor confidence and strengthening the financial viability of the industry. Speaking at the Investor Forum for the Presidential Power Sector Financial Reforms Programme (PPSFRP) Series II Bond Issuance in…
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BREAKING: CBN’s MPC retains interest rate at 26.50%
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) at its 306th policy meeting voted to retain the Monetary Policy Rate (MPR) or interest rate at its 26.50 per cent. The committee retained the asymmetric corridor around the MPR at +50basis points/-450basis points. At the end of the two days meeting in Abuja, the committee also maintained…
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FG opens applications for tech startup accelerator with $350,000 funding
The Federal Government has opened applications for the iDICE Startup Bridge Growth Lab, a 12-week accelerator programme that will provide up to $350,000 in funding to 12 promising Nigerian technology startups. The initiative, implemented by the Bank of Industry under the Investment in Digital and Creative Enterprises (iDICE) Programme, will select two startups from each of Nigeria’s six geopolitical zones…
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Tinubu has not borrowed N80tn, debt rise driven by naira depreciation — Finance Minister
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, on Monday defended the Federal Government’s debt profile, telling the Senate that the sharp increase in Nigeria’s public debt was largely caused by naira depreciation and the recognition of inherited liabilities, rather than fresh borrowing by the President Bola Tinubu administration. Appearing before the Senate Committee on Finance,…
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RMAFC pushes efficient resource allocation to drive economic growth
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has called for a shift in Nigeria’s fiscal governance, urging policymakers to prioritise efficient resource allocation, transparency and accountability alongside revenue generation to achieve sustainable economic growth. The commission made the call on Monday during a stakeholders’ strategic retreat organised in collaboration with the House of Representatives Committee on Finance in Lagos.…
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NDIC to host 2026 IADI – ARC annual meeting workshop
The Nigeria Deposit Insurance Corporation (NDIC) said all is set to host the International Association of Deposit Insurers (IADI) Africa Regional Committee (ARC) Annual Meeting and Workshop in Abuja – Nigeria with the Theme: “Safeguarding Stability: Public Awareness and Crisis Readiness for a Stronger Future” The 4-day high-level regional engagement will gather Chief Executives, Directors and senior officials of deposit…
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