Air Peace has credited the United Kingdom government for its approval to operate scheduled flights from Nigeria into London Heathrow and Gatwick Airports. The Chairman of the airline, Dr. Allen Onyema, in a statement on Wednesday in Lagos, described the development as a landmark achievement, noting that no Nigerian carrier had secured such access in…
The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has disclosed that 14 banks have fully met the new capital requirements under the apex bank’s ongoing recapitalisation exercise. Cardoso made this known on Tuesday in Abuja while presenting the communiqué of the 302nd meeting of the Monetary Policy Committee (MPC). The recapitalisation framework,…
Russia has announced record growth in its Special Economic Zones (SEZs), according to the official website of the Ministry of Economic Development of the Russian Federation. Nikita Kondratiev, Director of the Department for Multilateral Economic Cooperation and Special Projects in the ministry, during the third International Forum of Special Economic Zones 2025. The ministry also…
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday reduced the country’s benchmark interest rate, the Monetary Policy Rate (MPR), from 27.5 per cent to 27 per cent. CBN Governor, Mr. Yemi Cardoso, announced the decision while presenting the communiqué of the committee’s 302nd meeting in Abuja. The move signals…
The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) have rejected the Federal Government’s plan to sell its stakes in Joint Venture (JV) oil assets and amend the Petroleum Industry Act (PIA). At a joint world press conference in Abuja on Tuesday,…
Trade between the United Kingdom and Nigeria has reached an unprecedented £7.9 billion (₦16 trillion), Britain’s High Commissioner to Nigeria, Richard Montgomery, has announced. In an interview in Abuja, Montgomery credited the surge to the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP), which is designed to deepen bilateral trade by tackling non-tariff barriers and aligning…
The Nigerian government has disclosed that it channelled about ₦330 billion into social safety net programmes between January and September 2025, as part of efforts to shield the most vulnerable families from the harsh effects of economic restructuring. Finance Minister Wale Edun, speaking at a joint briefing with the National Social Safety Net Coordinating Office…
Dr Michael David, Executive Director, Global Initiative for Food Security and Ecosystem Preservation (GIFSEP) says Africa needs about 53 billion dollars grant to enhance food sovereignty. David said this in Abuja on Wednesday, at the Civil Society Organisations (CSOs) and Media Workshop on Climate Adaptation. According to him, we need the right finance to impact…
The Independent Media and Policy Initiative (IMPI), a Nigerian policy think-tank, has projected that Nigeria’s headline inflation will fall to 17 per cent by December. The IMPI Chairman, Dr Omoniyi Akinsiju, in a statment on Wednesday, said the projection would be recorded, following consecutive declines that brought the figure down to 20.12 per cent in August. Akinsiju…
The Central Bank of Nigeria (CBN) says it is pursuing economic reforms aimed at refocusing financial system stability and stimulating productivity. The CBN Governor, Olayemi Cardoso, who disclosed this on Tuesday at its fair, holding in Kano, said it’s working hard to deepening financial inclusion and sustaining monetary and price stability. The theme of the…
