Economy
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Digital identity can unlock economic opportunities – NITDA DG
By Olatonmiwa Osho The Director-General of the National Information Technology Development Agency (NITDA), Kashifu Abdullahi, has called for greater use of digital identity infrastructure to expand access to services and unlock opportunities in Nigeria’s digital economy. Abdullahi made the call at a high-level panel titled “Identity in Action and Access to the Digital Economy,” convened by the National Identity Management…
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Nigeria’s public debt hits N166trn in H1 2026, says DMO
The Debt Management Office (DMO) has revealed that Nigeria’s total public debt rose to N166.79 trillion as of half year (H1) ended June 30, 2026. The DMO in its latest public debt portfolio report revealed that the N166.76 trillion represents a 9.4 per cent or N14.39 trillion increase from the N152.4 trillion recorded at the end of June 2025.…
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At N16,000 per share, Seplat Energy hits all-time high
Seplat Energy Plc shares have climbed to an all-time high of N16,000 per share on the Nigerian Exchange Limited (NGX), extending a sharp rally that has seen the stock surge by 175.44per cent year-to-date. NGX data showed that Seplat closed at N16,000 on September 24, up N1,092.20 or 7.33per cent from its previous trading session. The latest rally has pushed…
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Dangote Group partners Ethiopia, Djibouti to develop $660m petroleum pipeline project
The Dangote Group said it has partnered with Ethiopia and Djibouti to develop a $660 million refined petroleum products pipeline linking both East African countries. According to a statement by the group on Thursday, the groundbreaking ceremony for the Damarjog-Dewele oil terminal and pipeline project was held in Djibouti. “The project comprises a modern 120-kilometre multiproduct pipeline linking marine and…
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Ogun, DP World partner on $7bn-plus deep seaport, blue marine projects
The Ogun State Government has partnered with global logistics and port operator DP World MEA FZE to develop the Gateway Deep Sea Port and Ogun State Blue Marine Special Economic Zone, with the projects expected to attract more than $7 billion in initial investment and create over 50,000 direct jobs. President Bola Ahmed Tinubu witnessed the signing of the Memoranda…
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UNGA 81: Nigeria, US sign pact to unlock $700bn mineral resources
Nigeria and the United States have signed a framework agreement to attract American investment into Nigeria’s mining sector and develop the country’s mineral resources, estimated by the Federal Government at $700 billion. The agreement was signed by the Minister of Solid Minerals Development, Dele Alake, and US Deputy Secretary of State Christopher Landau at Nigeria’s Mission House in New York…
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FG engages Chinese firm to revive $2.35bn Mambilla power project
The federal government has engaged China Energy Engineering Corporation (CEEC), also known as Energy China, to explore options for delivering the long-delayed Mambilla Hydropower Project in Taraba State. The Minister of Power, Joseph Tegbe, disclosed this during a media parley in Abuja to mark his first 100 days in office. Tegbe said the ministry had directed the Chinese firm to…
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Elumelu urges shift from aid dependence to trade, investment in Africa
Chairman of Heirs Holdings, Tony Elumelu, has called for a fundamental shift in Africa’s development model from reliance on foreign aid to trade, investment, entrepreneurship and private sector-led growth. Elumelu made the call during a fireside chat held on the sidelines of the United Nations General Assembly in New York. The session, titled the “Darryl G. Behrman Lecture on Africa…
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Tinubu hails $800m Ima Gas FID, says project unlocks 50-year-old resource
President Bola Tinubu has welcomed the $800 million Final Investment Decision (FID) on the Ima Gas Project, describing it as a major step towards unlocking Nigeria’s long-undeveloped gas resources for industrialisation, investment and job creation. The project, developed by Nigerian independent energy company AMNI International in partnership with TotalEnergies, is expected to produce about 300 million standard cubic feet of…
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NDC planning new approach to fuel subsidy, says Kwankwaso
Rabiu Musa Kwankwaso, vice-presidential candidate of the Nigeria Democratic Congress (NDC), says the party is planning a new approach to fuel subsidy if elected in 2027. Kwankwaso, a former Kano State governor, disclosed this on Wednesday during an interview with Arise News, saying the party would adopt measures to reduce fuel prices, including expanding domestic refining capacity. He said the…
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