Economy |

Tinubu Wants Bankers, Stakeholders To Embrace Reforms To Build Inclusive, Accountable Institutions

Kingsley Chukwu3 months ago02 mins

President Bola Tinubu has called on Nigeria’s bankers and investors to align with his administration’s reform agenda, warning that innovation, accountability and inclusion are critical to the nation’s economic recovery. Addressing the 18th CIBN Annual Banking and Finance Conference in Abuja through Finance Minister Wale Edun, Tinubu highlighted achievements from recent reforms, including improved debt-to-GDP…

China Probes Ex-Bank Of China Executive For Suspected Misconduct

Kingsley Chukwu3 months ago01 mins

Chinese authorities have launched an investigation into Lin Jingzhen, former vice president of the state-owned Bank of China, over alleged “serious breaches of Party discipline and national law.” The Communist Party’s Central Commission for Discipline Inspection and the National Commission of Supervision confirmed the probe in a statement on Tuesday, without elaborating on the accusations….

Nigerian Energy Leaders Head To Milan For Global Gas Conference

Kingsley Chukwu3 months ago02 mins

Nigeria will take centre stage at this year’s Gastech Exhibition and Conference in Milan, leading a delegation of seven African nations at the global gas industry’s flagship summit from 9–12 September. The event, which brings together ministers, policymakers, and industry leaders from more than 140 countries, will focus on building solutions to pressing energy challenges…

Economy

Ibadan Residents Brace For Disruption As Oil Workers’ Strike Kicks Off

Kingsley Chukwu3 months ago02 mins

Filling stations across Ibadan were partly shuttered on Monday after unions in Nigeria’s oil distribution sector launched an indefinite strike, raising fears of fuel shortages in the coming days. The industrial action was declared by the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG). The…

OPEC+ Moves To Ease Output Cuts, Approves 137,000 bpd Increase

Kingsley Chukwu3 months ago01 mins

OPEC+ has announced plans to raise crude oil production by 137,000 barrels per day in October, easing part of its voluntary output cuts in response to steady market conditions. The decision was confirmed in a statement released on the group’s website after a virtual meeting of eight member states, including Saudi Arabia, Russia, Iraq, the…

ADITOP Rejects NUPENG Strike, Backs Dangote Fuel Distribution Plan

Kingsley Chukwu3 months ago02 mins

The Association of Distributors and Transporters of Petroleum Products (ADITOP) has publicly opposed the strike action declared by the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), aligning instead with Dangote Refinery’s new fuel distribution model. NUPENG had earlier announced its intention to embark on an indefinite strike beginning Monday, citing concerns over alleged…

Afrinvest At 30: Firm Launches Landmark Report On Banking Sector And Economic Growth

Kingsley Chukwu3 months ago02 mins

Afrinvest (West Africa) Ltd. has marked its 30th anniversary with the release of its 20th Nigerian Banking Sector Report, setting out strategies to help Nigeria achieve its ambition of becoming a $1 trillion economy. The report, themed “ACT-BOLD: Turbocharging Nigeria to a New Growth Frontier,” urges policymakers and investors to embrace bold reforms across seven…

Tinubu To Inaugurate 6,000mt Lithium Plant In Nasarawa

Kingsley Chukwu3 months ago03 mins

Nasarawa State is set to welcome President Bola Tinubu to commission a brand-new 6,000-metric-ton lithium processing plant, highlighting Nigeria’s bid to capture more value in the global energy transition. Governor Abdullahi Sule confirmed the President’s forthcoming visit after meeting him on Wednesday at the State House, Abuja. Built by Chinese investors, the plant is the…

Tinubu Says Bold Reforms Have Halted Economic “Bleeding”

Kingsley Chukwu3 months ago02 mins

President Bola Tinubu has defended his government’s sweeping economic reforms, insisting they have stabilised Nigeria’s fragile economy and restored confidence among investors and international partners. “The bleeding has stopped. The haemorrhage is gone. The patient is alive,” Tinubu said on Tuesday during a meeting with Oba Ghandi Olaoye, the Soun of Ogbomosoland, at the presidential…

Nigeria To Shift To T+2 Securities Settlement Cycle In November

Kingsley Chukwu3 months ago01 mins

The Central Securities Clearing System (CSCS) has confirmed that Nigeria’s capital market will move to a T+2 settlement cycle on 28 November, in line with global best practice and a directive from the Securities and Exchange Commission (SEC). CSCS CEO Haruna Jalo-Waziri described the reform as a “major milestone” that would improve liquidity, cut settlement…