Economy
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Tony Elumelu Foundation to unveil 12th entrepreneurship cohort
The Tony Elumelu Foundation (TEF) is set to announce the 12th cohort of its flagship Entrepreneurship Programme on Sunday, marking another milestone in its drive to empower African entrepreneurs. The announcement follows a record-breaking 265,000 applications received from across all 54 African countries, reflecting growing interest in entrepreneurship and innovation across the continent. The surge in applications highlights increasing focus…
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How Nigeria-UK £746 Million ports deal would boost trade — UK export finance CEO’s
UK leading finance and investment institutions have revealed that the £746 million agreement to modernise key Nigerian trading ports is expected to boost trade, strengthen infrastructure, and deepen economic cooperation between Nigeria and the United Kingdom. Business and finance leaders involved in the project said the deal will improve port efficiency, create opportunities for British manufacturers, and support long-term economic…
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PHOTO NEWS: Tinubu witnesses £746m ports financing deal in London
President Bola Tinubu on Thursday witnessed the signing of a £746 million financing agreement between Nigeria’s Ministry of Finance, led by Wale Edun, the United Kingdom’s Parliamentary Under-Secretary of State and Minister for Small Business and Economic Transformation, Blair McDougall, and Citi Bank. The agreement, signed at Lancaster House in London, is aimed at modernising the Apapa and Tin Can…
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Nigeria, UK sign £746m deal to upgrade Lagos ports as Tinubu pushes stronger trade ties
President Bola Tinubu has called for stronger trade and economic cooperation between Nigeria and the United Kingdom following the signing of a £746 million agreement to refurbish two major Lagos ports. Tinubu made the call on Thursday during a meeting with UK Prime Minister Keir Starmer at Downing Street, where both leaders discussed expanding bilateral relations and addressing global economic…
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Tinubu, UK PM Starmer pledge stronger Nigeria–Britain ties
President Bola Tinubu and British Prime Minister Keir Starmer on Thursday reaffirmed their commitment to strengthening diplomatic, security and economic relations between Nigeria and the United Kingdom. The two leaders spoke at 10 Downing Street following bilateral engagements during President Tinubu’s official visit to the UK. Prime Minister Starmer noted that Nigeria and Britain already share strong cooperation but said…
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Nigeria, UK seal £746m deal to rehabilitate Apapa, Tin Can Island ports
Nigeria and the United Kingdom have agreed on a £746 million export finance arrangement to support the rehabilitation and modernisation of two of Nigeria’s busiest seaports, a move expected to boost trade capacity and strengthen economic ties between both countries. The development was disclosed by presidential aide Sunday Dare in a post on X on Thursday, following engagements between President…
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UK announces jobs boost as Tinubu’s state visit strengthens Nigeria-UK economic ties — Official
The United Kingdom government has announced a new wave of job creation driven by Nigerian companies expanding their operations in Britain, coinciding with President Bola Tinubu’s state visit aimed at strengthening economic and trade relations between both countries. UK officials said the expansion by Nigerian banks, fintech companies and creative industry firms is expected to generate hundreds of jobs, further…
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NSIA seals $500 million partnership with UK investor to boost Nigeria’s dairy industry
The Nigeria Sovereign Investment Authority (NSIA) has entered into a $500 million partnership with UK-based investment firm Asset Green Limited to establish a large-scale, integrated dairy production project aimed at transforming Nigeria’s dairy value chain. The agreement, formalised through a Memorandum of Understanding (MoU), was signed in London on Tuesday ahead of President Bola Tinubu’s official visit to the United…
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Nigerians spent £178m in UK as 251,000 Britons visited Nigeria – King Charles
King Charles III has revealed growing economic ties between Nigeria and the United Kingdom, highlighting that Nigerian visitors spent £178 million in Britain in 2024, while 251,000 British travelers visited Nigeria and spent a similar amount. The British monarch disclosed this during a state banquet at Windsor Castle on Wednesday in honour of Nigerian President Bola Tinubu and First Lady…
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S&P projects $155bn for Africa’s sovereign borrowing in 2026
S&P Global Ratings has revealed that commercial long-term borrowing by African sovereigns is projected to rise to $155 billion in 2026, up from $140 billion issued in 2025. The global credit rating agency disclosed this in a recent report, noting that the increase will be driven by a combination of maturing debt obligations and ongoing fiscal financing needs across the…
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