Economy
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$2bn debt case: Appeal court disqualifies Olanipekun, Banire as counsel to Nestoil, Neconde
The court of appeal on Friday rejected the appointment of Wole Olanipekun and Muiz Banire as counsel representing Nestoil and Neconde in the $2 billion debt case filed by FBNQuest Merchant Bank Limited and First Trustees. In its ruling, the court held that the powers of the Ernest Azudialu-Obiejesi-led board of directors to appoint lawyers has been suspended by the…
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WEF 2026: Shettima calls for homegrown economic solutions
…says Africa must shift from aid to investment By Kunle Sanni – Vice President Kashim Shettima has called on African countries to pursue homegrown solutions to their economic challenges, urging the continent to move away from import dependence and foreign aid towards local production and investment-driven growth. Shettima made the call on Thursday at the high-level Accra Reset Initiative meeting…
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Shell commits $20bn fresh investment in Nigeria’s energy sector, says NNPC GCEO
By Kunle Sanni – Shell Plc has indicated plans to invest up to $20 billion in Nigeria’s energy sector over the next few years, according to the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, Bayo Ojulari. Ojulari disclosed this on Thursday after a courtesy visit by a Shell delegation to the State House, Abuja, where…
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Turkey identifies 76 Nigerian artifacts, sets stage for repatriation
Türkiye has identified 76 wooden and metal artifacts believed to belong to Nigeria, paving the way for their repatriation and potentially strengthening cultural relations between the two nations. The announcement was made on Thursday by the Turkish Ambassador to Nigeria, HE Mehmet Poroy, during a courtesy visit to the Honourable Minister of Art, Culture, Tourism and Creative Economy, Hannatu Musa…
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Tinubu approves incentives to boost Shell’s Bonga South-West project, attract jobs, FX inflows
By Kunle Sanni – President Bola Tinubu has approved targeted, investment-linked incentives aimed at accelerating Shell’s proposed Bonga South-West deep-offshore oil project and other similar offshore developments, in a move to unlock jobs, foreign exchange inflows and long-term government revenue. The approval includes the gazetting of the incentives within Nigeria’s existing legal and fiscal frameworks. The President also directed the…
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PHOTO NEWS: Shell plans $20bn investment in Bonga South West oil project
By Kunle Sanni – Shell has announced plans to invest up to US$20 billion over time in the Bonga South West oil project, marking a significant boost for Nigeria’s energy sector. The announcement was made on Thursday when President Bola Ahmed Tinubu received the Chief Executive Officer of Shell Companies, Mr Wael Sawan, and his delegation at the State House,…
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Economic boost for Ogun as Tinubu okays oil exploration, deep seaport project
Ogun State’s long-standing quest to become an oil-producing state is set to be realised following President Bola Ahmed Tinubu’s approval for the commencement of commercial oil drilling at Tongeji Island in Ipokia Local Government Area. Governor Dapo Abiodun disclosed this on Thursday while receiving the Flag Officer Commanding, Western Naval Command, Rear Admiral Abubakar Abdullahi Mustapha, and other senior officers…
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Nigeria must chase global investors to create jobs – Okonjo-Iweala
The Director-General of the World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala, has said Nigeria must deliberately position itself to attract global investors and relocating supply chains in order to create jobs, deepen manufacturing and reduce import dependence. Okonjo-Iweala made the remarks on Wednesday at the Nigeria House during the ongoing World Economic Forum in Davos, Switzerland, while speaking at a…
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VP Shettima unveils Nigeria’s macro food security strategy at Davos
By Kunle Sanni – Vice President Kashim Shettima has announced a shift in Nigeria’s approach to food security, describing it as a core macroeconomic, security and governance issue rather than a narrow agricultural concern. Shettima made this known while speaking at a high-level panel titled “When Food Becomes Security” at the 56th World Economic Forum (WEF) in Davos, Switzerland. According…
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