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 (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…
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…
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…
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…
India’s textiles, leather, jewellery and footwear sectors are warning of massive losses after U.S. tariffs of up to 50 per cent came into effect last week, severely curbing exports. The Trump administration’s move — doubling duties after India refused to halt Russian oil purchases — has left labour-heavy industries struggling to cope, according to local…
Nigeria’s decision to halt the export of raw shea nuts for six months will strengthen local processors and cut production costs, the head of the Nigerian Export-Import Bank (NEXIM) has said. Managing Director Abba Bello told youth members of the ruling All Progressives Congress (APC) in Abuja on Tuesday that the measure would help Nigeria…
Nobel Laureate Prof. Wole Soyinka and Central Bank of Nigeria (CBN) Governor, Yemi Cardoso have called for a deeper Nigeria-Brazil cultural renaissance for the cultural and economic benefit of both nations. The News Agency of Nigeria (NAN) reports that the duo made the call during a landmark cultural and heritage event held in the…
President of the Ijaw National Congress (INC), Prof. Benjamin Okaba, has accused successive governments of neglecting the Niger Delta despite the region contributing over 75 percent of Nigeria’s oil wealth. Delivering a lecture at the 10th Anniversary of GbaramatuVoice in Abuja on Wednesday, Okaba described the situation as an “ecological genocide,” lamenting that most Niger…
Governor of the Central Bank of Nigeria (CBN), Dr Olayemi Cardoso, has called on manufacturers to spearhead efforts to diversify Nigeria’s foreign exchange earnings away from crude oil dependence. Cardoso made the call at the 54th Annual General Meeting (AGM) of the Manufacturers Association of Nigeria (MAN), Apapa Branch, themed “Complementing the Oil Sector, a…
