Nigeria’s manufacturing executives have reported a marginal rise in business confidence, signalling cautious optimism amid persistent macroeconomic headwinds. The Manufacturers Association of Nigeria (MAN) said its Chief Executive Officers’ Confidence Index (MCCI) increased to 50.7 points in the third quarter of 2025 — a 0.4-point rise from the previous quarter. Speaking in Lagos on Tuesday,…
Nigeria’s lower legislative chamber has urged oil and gas companies operating in Imo State to comply with key provisions of the Petroleum Industry Act (PIA) 2021, citing widespread breaches of local content and host community development obligations. The call came after a motion of urgent national importance was raised by Rep. Chike Okafor, representing Ehime…
Nigeria’s upstream oil sector has recorded a major rebound, with the number of active oil rigs rising from eight in 2021 to 46 as of July 2025, according to new figures from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). Mr Gbenga Komolafe, NUPRC’s Chief Executive, revealed the data on Wednesday at the opening of a…
The Nigerian Shippers Council (NSC), says it saved Nigerian economy N6 billion through resolution of industry-related conflicts in 2024. The Executive-Secretary of the NSC, Dr Pius Akutah said this in an interview with the News Agency of Nigeria (NAN) in Abuja. Akutah said that the council protected investments in the sector through strict compliance to…
The House of Representatives has urged the Federal Government to ban importation of foreign textiles as a way of rejuvenating the production of local textile materials in the country. This was sequel to the adoption of a motion by Rep. Garba Muhammad (NNPP-Kano) at the plenary on Tuesday. Moving the motion, Muhammad said that the…
The insurance industry has recorded 61 per cent year-on-year increase in third quarter (Q3) of 2024, reaching N1.2 trillion. Mr Kunle Ahmed, Chairman of Nigerian Insurance Association (NIA) disclosed this during a quarterly news conference on the performance of the industry by the association in Lagos. Ahmed said this growth was largly driven by the…
African Union (AU) has signed a Memorandum of Understanding (MoU) with the All-Africa Music Awards (AFRIMA) to promote the continent’s creative and culture industries. The President and Executive Producer of AFRIMA, Mr Mike Dada, disclosed this in a statement on Wednesday. Dada stated that the MoU was aimed at strengthening the already existing partnership since…
The U.S. government through the United States Agency for International Development (USAID) has announced a strategic partnership of N3.5m dollars with Nigeria’s private sector to strengthen the nation’s creative industry. The partnership with Ascend Studios, tagged the “Africa Creative Blueprint”, will strengthen Nigerian youth with skills and resources needed to elevate them to the international…
Kouassi Adjoumani, Ivorian Minister of Agriculture, Rural Development and Food Production has strongly encouraged national and international investors to invest in the cashew sector in Cote d’Ivoire. The minister made the remarks at the opening of the investment forum for the cashew industry, in Abidjan. He emphasised that the annual production of cashew nuts in…
