Wale Edun, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, has declared the country’s electricity sector open for investment at the ongoing #Mission300 African Energy Summit in Dar es Salaam, Tanzania. Addressing selected investors and development partners, Edun highlighted Nigeria’s electricity sector as a prime opportunity for investment. He emphasised the nation’s commitment…
Wale Edun, Nigeria’s Minister of Finance, has stated that the recently approved 50 percent tariff increase in the cost of telecommunications services is only a starting point. He noted that it is necessary to balance rising operational costs with the provision of quality services and the broader economic considerations for both consumers and the telecoms…
As Nigerians celebrate Christmas, traders across various markets in Nigeria are lamenting poor patronage amid skyrocketing food prices, a sharp contrast to the festive sales experienced in previous years. In Lagos, Abuja, Osun, Rivers, Edo, Kano, Kaduna, and Sokoto, among other states, traders decried the high cost of food items and ever-increasing food inflation on…
The Federal Government has declared a state of emergency at the Onne Port in Rivers State following the repeated incidents of importation of dangerous cargo, including arms and ammunition through this port. To this effect, the government said it is immediately implementing emergency protocols at Onne Port for the next three months by conducting thorough…
The Federal Competition and Consumer Protection Commission has dismissed claims that it plans to regulate prices in the Nigerian market. It clarified that its recent directives are solely aimed at curbing exploitative practices and maintaining a competitive marketplace. It disclosed this in a statement by its Director, Special Duties and Strategic Communication, Ondaje Ijagwu, on…
Nigeria has ascended to become the third-largest debtor to the World Bank’s International Development Association (IDA) as of June 30, 2024, reflecting a significant increase in the country’s borrowing from the institution. According to the World Bank’s financial statements, Nigeria’s exposure to the IDA rose by 14.4% from $14.3 billion in the fiscal year (FY)…
The co-chair of the Bill & Melinda Gates Foundation, Bill Gates is visiting Nigeria this week, as part of the foundation’s ongoing commitment to Africa’s development. Gates will be meeting with national and local leaders, partners, grantees, and innovators to discuss advancing health, innovation, and nutrition across Africa. Gates, alongside other foundation leaders, will meet…
The Central Bank of Nigeria (CBN) has terminated the appointments of all executive directors at the Nigeria Incentive-Based Risk Sharing System for Agriculture Lending (NIRSAL). This decision, approved by CBN Governor Olayemi Cardoso on Friday, represents the latest in a series of staff reductions at the apex bank since his appointment last year. The executive…
The federal government has inaugurated the new Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON), urging the team to ensure firm regulation of the profession in Nigeria.Speaking at the event in Abuja, the Minister of Housing and Urban Development, Ahmed Dangiwa, urged the 22-member professional body under the supervision of the ministry to help…
The Lagos State Government has announced plans to convey a stakeholders summit to address challenges of physical planning in the state. The Deputy Director, Public Affairs, Ministry of Urban and Physical Planning, Mukaila Sanusi, in a statement issued on Saturday, said the summit will afford stakeholders the opportunities to engage the government in areas of sustainable…
