Economy
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NNPC secures Presidential approval for $20bn FID on Bonga deepwater project
President Bola Tinubu has approved a targeted fiscal incentive aimed at unlocking the long-awaited Final Investment Decision(FID) on the Bonga Southwest Aparo, BSWA, deepwater project, a move expected to attract about $20 billion in foreign direct investment and significantly boost Nigeria’s energy sector. Chief Corporate Communications Officer of the Nigerian National Petroleum Company Limited, Andy Odeh, disclosed this in a…
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SEC launches platform to bridge regulatory gaps in Nigeria’s FinTech sector
The Securities and Exchange Commission (SEC), has officially launched its inaugural Regulator/FinTech Clinic, signaling a proactive step towards strengthening dialogue with Nigeria’s rapidly growing financial technology ecosystem. The event, held on Tuesday aims to align innovation with regulatory compliance while ensuring investor protection. Opening the clinic, the SEC DG Emomotimi Agama highlighted the significance of a collaborative approach between regulators…
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Tinubu’s policies repositioning Nigeria’s mining industry — Alake
The Minister of Solid Minerals Development, Dele Alake, has attributed the recent growth recorded in Nigeria’s solid minerals sector to reforms introduced by President Bola Tinubu. Alake said the reforms have increased the sector’s contribution to the country’s Gross Domestic Product (GDP), attracted more foreign direct investment and strengthened Nigeria’s position as an emerging destination for global mining investment. The…
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Fagbemi hails President Tinubu, says resolution of OPL 245 dispute will reposition national economy
…hails President Tinubu for providing leadership The Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, has hailed the resolution of the long-standing OPL 245 dispute as a major step toward repositioning Nigeria’s economy and strengthening the federal government’s fiscal capacity. In a statement by the Special Adviser to President Bola Tinubu on Information and Strategy, Bayo Onanuga, the…
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OPL 245 settlement to deliver 150,000bpd, $6bn investment — NNPC
TheNigerian National Petroleum Company Limited Group Chief Executive Officer, Bayo Ojulari, says the resolution of the long-standing dispute over Oil Prospecting Lease (OPL) 245 could unlock an additional 150,000 barrels per day (bpd) in Nigeria’s oil production as development of the Zabazaba–Etan deepwater project moves forward. In a statement issued Friday, Ojulari said the settlement paves the way for the…
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30 banks have scaled new minimum capital thresholds, says CBN
The Central Bank of Nigeria (CBN) on Friday disclosed that 30 banks have met the new minimum capital requirements applicable to their respective licence authorisations as of March 6, 2026. The CBN further stated that in total, 33 banks have raised additional capital through rights issues, initial public offerings (IPOs), and private placements as part of the ongoing industry recapitalisation…
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JUST IN: Tinubu constitutes committee to oversee new grid asset management firm
President Bola Tinubu has inaugurated an 11-member committee to oversee the incorporation of the Grid Asset Management Company Limited (GAMCO), a new initiative aimed at addressing longstanding challenges in Nigeria’s electricity sector. The committee was constituted following the approval of the Federal Executive Council for the establishment of the company earlier in the week. The move is part of the…
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Oduwole calls for coordinated media effort to showcase Nigeria’s investment potential
The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, has called for stronger collaboration with the Ministry of Information and National Orientation to promote Nigeria’s economic reforms and attract global investment. Oduwole made the call during a courtesy visit to the Minister of Information and National Orientation, Mohammed Idris, on Thursday in Abuja. She said strategic communication and inter-ministerial…
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Tinubu ordered improvement, not suspension of airport cashless policy, FAAN clarifies
The Managing Director of the Federal Airports Authority of Nigeria (FAAN), Olubunmi Kuku, has clarified that President Bola Tinubu did not completely suspend the newly introduced airport cashless payment policy but directed that the process be improved before full implementation. Kuku made the clarification during a press conference at the Lagos airport on Thursday, less than 24 hours after the…
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Nigeria, Eni reach settlement on OPL 245 after years of legal battles
President Bola Tinubu has announced the resolution of the long-running dispute over Oil Prospecting Licence (OPL) 245, a move the Federal Government says will unlock major investment in Nigeria’s deepwater oil sector. The settlement agreement was reached between the Federal Government, Eni and Nigerian Agip Exploration Limited (NAEL) during a meeting at the presidential office in Abuja on Thursday. The…
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