Economy
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Nigeria must lead Africa’s gas-driven energy transition, says NNPC GCEO
Nigeria must harness its vast natural gas resources to drive Africa’s economic growth and contribute to global stability, Bayo Ojulari, group chief executive officer of Nigerian National Petroleum Company (NNPC) Limited, has said. Ojulari spoke on Tuesday at the opening ceremony of the Nigeria International Energy Summit (NIES) in Abuja, where he described Nigeria as an emerging global energy powerhouse.…
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Nigeria as emerging global model for credible reforms — World Bank
By Kunle Sanni – The World Bank has described Nigeria as an increasingly cited global example of steady and credible reform leadership, citing the country’s consistency in implementing economic reforms despite initial challenges. The World Bank’s Managing Director of Operations, Anna Bjerde, made the remark on Tuesday during a meeting with President Bola Ahmed Tinubu and Vice President Kashim Shettima…
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Nigeria pushes translational research to enhance African innovation, economy
By Kunle Sanni – The Federal Government of Nigeria, in collaboration with local and international partners, has stepped up efforts to strengthen translational research across Africa, urging the continent to move beyond data extraction toward producing scientific innovations that deliver tangible health and economic benefits. The call was made on Monday in Abuja by the Coordinating Minister of Health and…
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FBN Holdco ongoing restructuring may cause disruption, says Femi Otedola
Chairman of First HoldCo Plc, Femi Otedola has expressed that the ongoing restructuring of the oldest financial institution in Nigeria may come with some disruption but is necessary to strengthen the business and secure its future. First HoldCo in its 2025 financial results, reported a gross earnings of N3.4 trillion. Despite a 4.8per cent year-on-year increase, profitability was significantly impacted…
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My foundation set to empower new generation of African entrepreneurs, says Elumelu
The Chairman of Heirs Holdings Mr. Tony Elumelu, has expressed that the Tony Elumelu Foundation (TEF) is poised to empower a new generation of African entrepreneurs, stressing that Africa’s future belongs to young ones and when they are empowered, the continent is empowered. The Chairman of Heirs Holdings Mr. Tony Elumelu reiterated that joblessness is a betrayal of the youth…
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Weak competition, not costs, driving high cement prices in Nigeria – Agora Policy
A new report by Nigerian think tank Agora Policy has blamed weak competition and market concentration, rather than production costs, for persistently high cement prices in Nigeria. Titled “Market Power and Failure of Competition Policy in Nigeria’s Cement Industry”, the report notes that Nigeria has maintained self-sufficiency in cement production since 2012 and currently has installed capacity far above domestic…
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Africa Energy Bank to begin operations in April, says Lokpobiri
The Minister of state for petroleum resources (oil), Mr. Heineken Lokpobiri has revealed that the Africa Energy Bank (AEB) is set to begin operations in Nigeria in April 2026. This comes after the West African giant reportedly fulfilled all obligations required to host the bank. In November 2024, the ministry of petroleum resources said the bank would commence operations on…
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FG sets up NEC technical sub-committee to reposition livestock sector
The Federal Government has inaugurated the Technical Sub-Committee of the National Economic Council (NEC) on Livestock Development, reaffirming its commitment to repositioning the sector as a key driver of economic growth, food security and national cohesion. The Minister of Budget and Economic Planning, Senator Abubakar Bagudu, inaugurated the sub-committee in Abuja on Monday, saying it was set up to harmonise…
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IFC, Terra Kulture seal deal to grow Nigeria’s creative industry
The International Finance Corporation (IFC), a member of the World Bank Group, has entered into a mandate partnership with Terra Kulture Arts and Studios Limited to expand Nigeria’s creative economy through improved infrastructure and skills development. The agreement, signed in Lagos on Friday, January 30, establishes a framework for collaboration aimed at strengthening the country’s creative ecosystem by increasing access…
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Nigeria Customs advances global trade innovation
The Nigeria Customs Service (NCS) has reaffirmed its commitment to technology-driven border management and international cooperation. The NCS was led by Comptroller-General of Customs (CGC) Adewale Adeniyi who highlighted its commitment to tech-enabled border management and trade facilitation at the 2026 World Customs Organisation (WCO) Technology Conference in Abu Dhabi, aligning with global best practices in digitalisation, data exchange, and…
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