Business

Nigeria’s partnership with BRICS works better than an alliance because within the international system, the latter is comparable to creating a divide, says Prof. Joshua Bolarinwa, an international relations and security expert. Bolarinwa, the Director of Research and Studies at the Nigerian Institute of International Affairs (NIIA), made the assertion in an interview with the News Agency of Nigeria (NAN)…

 Bankit MFB, a fintech company, says it has registered over 50,000 users on its platform within the first few weeks of its operations. This is contained in a statement on Wednesday by Mr Kingsley Ezenwa, Head of Marketing and Corporate Communications at Bankit Africa. Ezenwa said the achievement was a testament to the bank’s innovative and simple approach to digital…

 The Lagos State Ministry of Environment and Water Resources on Tuesday assured residents of the state of constant water supply by 2027. Mr Tokunbo Wahab, the Commissioner For Environment and Water Resources, said this while speaking with journalists after the tour of Adiyan Phase 2 ongoing water project at Iju area of the state. Wahab, who was impressed about the ongoing…

The National Cashew Association of Nigeria (NCAN) says it can inject $3.7 billion into the Nigerian economy if the industry receives adequate attention, especially from the government. Dr. Ojo Ajanaku, the National President, National Cashew Association of Nigeria (NCAN), said this during a media conference on Monday in Abuja. The media conference was in commemoration of the 2025 Nigeria Cashew…

The Nigerian Communications Commission (NCC) has approved requests from mobile network operators (MNOs) for 50 percent tariff adjustments in response to prevailing operational costs. This is contained in a statement in Abuja on Monday by NCC Director, Public Affairs, Dr. Reuben Muoka. Muoka said the NCC decision was in pursuance of its power under Section 108 of the Nigerian Communications…

TASC, the GCC’s leading provider of business and workforce solutions, recently announced the launch of its co-working spaces office in Riyadh, Saudi Arabia. This strategic initiative aligns with Saudi Arabia’s Vision 2030 and aims to cater to businesses’ evolving needs and contribute to the Kingdom’s ambitious transformation agenda. Small and medium-sized firms (SMEs) drive Saudi Arabia’s economy, accounting for 20%…

The Minister, Industry, Trade, and Investment, Dr. Jumoke Oduwole, says the implementation of the African Continental Free Trade Area (AfCFTA) has opened up new areas for trade opportunities. Oduwole said this while receiving the Secretary-General of AfCFTA, Mr. Wamkele Mene, who was on a courtesy visit to his office in Abuja on Thursday. She said that the implementation would stimulate…

Guaranty Trust Holding Company Plc (GTCO) says it has successfully completed the first tranche of its equity capital raise program. This followed the completion of the capital verification exercise conducted by the Central Bank of Nigeria (CBN) and the approval of the basis of allotment of the offer by the Securities and Exchange Commission (SEC). Mr. Segun Agbaje, Group Chief…

The Consumer Technology Association (CTA) has warned on Sunday that tariffs proposed by President-elect Donald Trump could significantly reduce Americans’ ability to purchase technology products. It said that this would potentially cut consumer purchasing power by up to 143 billion dollars. According to a report released by CTA, laptop and tablet purchases could plummet by as much as 68 percent,…

A former Director in the Central Bank of Nigeria (CBN), Dr. Titus Okunrounmu, has advised the Federal Government to strategically reduce the cost of governance in 2025. Okunrounmu gave the advice in an interview with the News Agency of Nigeria (NAN) on Monday in Ota, Ogun, noting that the high cost of governance had led to increased recurrent expenditure. The…

Dr. Alban Igwe, Member, United Nations Committee on Trade and Transport Location, says indigenous participation in the transport sector will have a big impact on the economy. Igwe said this in an interview with the News Agency of Nigeria (NAN) on Thursday in Lagos. He noted that transport was under the service sector. Igwe quoted the Nigeria Bureau of Statistics…

The National Association of Telecoms Subscribers (NATCOMS) has rejected the alleged telecoms tariff hike and called on the Nigerian Communications Commission (NCC) to nullify its approval. NATCOMS made this known in a communiqué issued after its National Exco held an emergency meeting on the planned tariff hike of telecommunication services in the country. The communiqué, signed by its National President,…

Some stakeholders in the mining sector have commended the Federal Government for reversing the five-year ban on mineral exploration activities in Zamfara. The stakeholders made the commendation in separate interviews with the News Agency of Nigeria (NAN) on Tuesday in Abuja. NAN reports that the Minister of Solid Minerals Development, Dr Dele Alake, recently announced the reversal of the ban on mining…

 The Nigerian National Petroleum Company Limited (NNPC Ltd.) says it has revived the Warri Refinery with the re-streaming of the plant’s crude distillation unit (CDU). The NNPC Ltd. said the restreaming of the CDU on Monday marked the beginning of the gradual start-up of the refinery following its successful rehabilitation. The NNPC Ltd., in a statement by its Chief Corporate…

Gov. Umaru Bago of Niger has commended President Bola Tinubu for his relentless efforts that have resulted in the re-opening of the Warri refinery. This was contained in a statement issued by his Chief Press Secretary, Bologi Ibrahim, in Minna on Monday. Bago describes the development as a giant step towards restoring the hope of Nigerians through local production and…

The Association of Licensed Telecommunications Operators of Nigeria (ALTON) on Monday said its members would start service shedding if nothing was done to increase tariff. In a statement in Lagos, the Chairman of ALTON, Mr. Gbenga Adebayo, said the Nigerian telecommunications industry was facing a critical challenge that required urgent attention. He said that operators were struggling to survive due…

 Mr. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, says the economic diplomacy carried out by President Bola Tinubu around the world is generating the desired results. The Minister said this while briefing State House correspondents after a meeting with the president in Lagos on Sunday. Edun said the president had embarked on fruitful economic diplomacy…