Grimaldi denies selling 2,500 empty containers

By Steve Agbota
Grimaldi Agency Nigeria has issued a clarification regarding reports concerning the sale of empty shipping containers by Grimaldi Deep Sea S.p.A.The company also refuted reports that it sold 2,500 empty containers, describing such claims as false and unsupported by facts.
In a statement issued on Wednesday, Grimaldi Agency Nigeria said claims suggesting that the seller was liable for Customs duties following the sale of a few empty containers are inaccurate and inconsistent with

From Isaac Job, Uyo
Akwa Ibom state governor pastor Umo Eno has engaged technical partners Africa Global Logistics (AGL) in different technical sessions in Paris for the realization of Ibom Deepsea project.
It was gathered that the technical sessions reviewed the recently submitted Technical Feasibility Report prepared by Worley Parsons and also examined critical pathways for investment, project implementation and long-term sustainability.
 
A statement issued by the Commissioner of Informa

By Chinenye Anuforo
 
A major showdown between Nigerian telecom consumers and service providers is set to unfold as MTN Nigeria launches an unprecedented public hearing aimed at addressing growing concerns over data depletion, billing transparency and consumer trust.
 
Tagged “Data on Trial,” the initiative will subject MTN’s data management, measurement and billing processes to public scrutiny, allowing customers, industry experts, media professionals, digital conten

From Idu Jude, Abuja
The Federal Government has reaffirmed its commitment to the actualisation of the Agge Deep Sea Port project in Bayelsa State, describing it as a strategic infrastructure initiative that will drive economic growth, create jobs, and attract both local and foreign investments to the Niger Delta region.
In a statement issued in Abuja on Wednesday, the Minister of Marine and Blue Economy, Adegboyega Oyetola, said the Agge Deep Sea Port remains a key priority of the Federal Govern

By Etop Ekanem Chief Executive Officer of Jumia Group, Francis Dufay, has offered a perspective that placed Nigeria not at the margins of risk, but at the centre of reform, growth and stability.Speaking during a panel on emerging markets, at the Sohn Conference in New York, Dufay described the period between 2021 and 2024 as one of the most difficult economic cycles in recent memory for African markets, with Nigeria among the hardest hit. Sharp currency swings, weakened consumer

By Emma Ujah,  Abuja Bureau ChiefThe Central Bank of Nigeria (CBN) has issued fresh Foreign Exchange Guidelines which provides that an individual can move cash of up to $50,000, but must be declared at the point of exit.The bank also retained the earlier provision for the movement or import of cash of up to $10,000 without having to declare it.A document cited by Vanguard stated, “The following may be exported from Nigeria: Without declaration, foreign currency, either in cash o

By Maduka Nweke
[email protected] 
 
Lagosians living in government-owned residential estates are angry and understandably so.
What began as a government regulation over solar panel installation in Lagos State-owned estates has spiralled into a fierce public debate over governance, taxation, housing failure and the limits of state control in a city battling deepening economic hardship.
As they call for the regulation to be scrapped, they insist the government is punishing them fo

…Stakeholders seek higher crude allocations for local refining
 
By Chinelo Obogo    
[email protected] 2026 Middle East conflict, which broke out in late February and led to the closure of the Strait of Hormuz, rattled global energy markets, disrupted fuel supply chains and triggered shortages across Africa, Asia, and Europe.
In Nigeria, there was a reverberating effect. The cost of kerosene surged from N900 to over N2,000 per litre. Aviation fuel increased from

By Chinelo Obogo  
At a time when Nigeria is redefining its economic trajectory and global relevance, its airports, long seen as mere transit points, are being reimagined as gateways of growth and engines of economic value.
In this interview, the Director of Public Affairs and Consumer Protection, Henry Agbebire at the Federal Airports Authority of Nigeria (FAAN)speaks on the transformation of the nation’s airports under the leadership of the Managing Director, Olubunmi Kuku.
How

By Steve Agbota
The federal government has warned the employers of dockworkers that it will no longer tolerate any organisation that fails to prioritise the welfare, safety and wellbeing of dockworkers at the nation’s ports.
The Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola gave the warning on Thursday at the 2026 Dockworkers Day celebration organised by the Shipping Correspondents Association of Nigeria (SCAN) in Lagos.
Speaking at the event, themed “Green Ports: Susta

From Adanna Nnamani, AbujaThe National Insurance Commission (NAICOM) has appointed global professional services firm Ernst & Young (EY) as consulting actuary to support the finalisation and implementation of Nigeria’s Risk-Based Capital (RBC) framework, a major regulatory reform aimed at strengthening the country’s insurance sector.
The appointment was formalised during a working meeting between NAICOM and EY in Abuja as part of the Commission’s ongoing efforts to transitio

Zedvance Group has announced a major strategic shift in its lending operations, committing 100 per cent of its active loan portfolio to small and medium-sized enterprises (SMEs) and critical ecosystem enablers in a move aimed at easing Nigeria’s financing constraints and boosting productive sectors.
The Group Managing Director, Zedvance Group, Adedayo Amzat, disclosed this on Tuesday at the Zedvance Business Roundtable themed “Unlocking Growth: The Role of Smart Financing in Building

Zedcrest Group has announced a major strategic shift in its lending operations, committing 100 per cent of its active loan portfolio to small and medium-sized enterprises (SMEs) and critical ecosystem enablers in a move aimed at easing Nigeria’s financing constraints and boosting productive sectors.
The Group Managing Director, Zedcrest Group, Adedayo Amzat, disclosed this on Tuesday at the Zedvance Business Roundtable themed “Unlocking Growth: The Role of Smart Financing in Building

By Henry Uche
Sovereign Trust Insurance Plc has strengthened its financial position by paying the required N1.5 billion statutory deposit to the Central Bank of Nigeria (CBN), ahead of the regulatory deadline set for insurance companies.
The deposit was made in compliance with a directive from the National Insurance Commission (NAICOM), which requires insurers to lodge 10 per cent of their minimum capital with the CBN under the provisions of the Nigerian Insurance Industry Reform Act (NIIRA) 202

Minister of State Petroleum Resources (Gas), Mr. Ekperikpe Ekpo, has said the involvement of Nigeria, Algeria and Niger in the Trans-Saharan(TSGP) Gas Pipeline Project is set to strengthen Africa’s energy security.
Ekpo stated this on Thursday, at the 5th Ministerial Meeting of the Steering Committee of the TSGP involving Nigeria, Algeria and Niger, at a meeting with Algerian President, Abdelmadjid Tebboune.The Minister reaffirmed Nigeria’s commitment to the successful delivery of th

Wema Bank has reaffirmed its commitment to supporting women entrepreneurs and small businesses with its return as the headline sponsor of Fashion Souk 2026, one of Nigeria’s foremost fashion and lifestyle exhibitions.
The bank said the platform remains a strategic avenue for entrepreneurs, creatives and business owners to showcase their products and services, engage customers, expand professional networks and drive business growth.
According to the bank, its partnership with Fashion Souk h

Nigeria’s leading telecommunications and digital solutions provider, Globacom, has introduced a new promotional data package known as “More Data More Value only on Glo”, aimed at enhancing the digital lifestyle of its customers across the country.
In line with the growing demand for internet connectivity in Nigeria’s increasingly data-driven economy, Globacom said the new offer reinforces its position as a customer-focused network by providing subscribers with over 10 per

By Chinwendu Obienyi
The Debt Management Office (DMO), on Wednesday, raised N1.46 trillion from the sale of Nigerian Treasury Bills (NTBs) after investors showed overwhelming interest in the government securities.
The auction attracted total bids of N2.16 trillion, far above the N1.0 trillion worth of Treasury Bills initially offered by the DMO. This means demand exceeded supply by 116 per cent, highlighting the strong appetite among investors for government-backed investment instruments.
Treasu

The Federal Ministry of Youth Development (FMYD), in partnership with the International Institute of Tropical Agriculture (IITA), has launched the National Youth in Agribusiness Land Trust Fund (YiALTF), a major initiative designed to improve access to farmland and create opportunities for more than 500,000 young Nigerians seeking to build sustainable agribusiness enterprises.
The programme, which is supported by fcmb.com, was unveiled in Abuja on Monday during a high-level gathering of governme

From Okwe Obi, AbujaThe Bureau of Public Procurement (BPP), has warned that defaulters of procurement code of conduct would be dealt with.
BPP’s Director General, Adebowale Adesokan, handed down the warning at the Procurement Evolution Day, yesterday in Abuja.
He declared that the government would not hesitate to blacklist erring contractors, given the non-interference of President Bola Tinubu.
Already, Adesokan disclosed that the government had significantly reduced unnecessary bottleneck

By Chinwendu Obienyi
International students from Nigeria are facing renewed financial pressure after the Central Bank of Nigeria (CBN) introduced a $25,000 per semester cap on foreign exchange payments for tuition, tightening access to official funding channels for overseas education.
According to the CBN Foreign Exchange (FX) Manual, 4th Edition, released on Wednesday, the policy, issued through updated guidelines to authorised dealer banks, restricts the amount of foreign exchange that can be

Dangote Petroleum Refinery & Petrochemicals has increased its crude oil processing capacity to 700,000 barrels per day (bpd) in a performance test conducted by the Process Licensors, marking a significant milestone in the facility’s operational expansion and further cementing its position as World’s Largest Single Train Petroleum Refinery.
The increase sees the refinery surpass its nameplate capacity of 650,000 bpd, underlining the facility’s engineering capability and oper

By Chinelo Obogo
The Chief Executive Officer of United Nigeria Airlines, Prof. Obiora Okonkwo, is set to deliver the 14th Convocation Lecture at Afe Babalola University, Ado-Ekiti (ABUAD), and will also receive an honorary degree from the institution at this year’s convocation ceremonies scheduled for October.
In a letter from the university’s chancellor, Afe Babalola, he said the university’s Senate had approved Okonkwo to deliver the lecture on Tuesday, October 20, 2026, at t

From Adanna Nnamani, AbujaSimpliRide Nigeria has expressed support for the recent directive by the National Health Insurance Authority (NHIA) mandating e-hailing and logistics platforms to provide health insurance coverage for independent contractors and self-employed workers, describing the policy as a major step toward strengthening social protection within Nigeria’s growing gig economy.
The company said the directive aligns with ongoing efforts to improve the welfare, financial security

From Adanna Nnamani, Abuja
The Managing Director of the Nigeria Social Insurance Trust Fund (NSITF), Barrister Oluwaseun Faleye, said the Fund was prioritising issues relating to platform workers, the gig economy and the growing impact of artificial intelligence (AI) on the workplace as part of efforts to adapt to evolving labour realities.
Faleye made the disclosure while responding to questions following a presentation by the Minister of Labour and Employment, Dr Muhammad Maigari Dingyadi, at

From Romanus Ugwu, Abuja
The British Government has revealed that it will do everything humanly possible to ensure the stability of Nigeria due to its significant economic, financial and security investments in the country.
It further noted that it would always approach Nigeria with respect because, as the largest country in Africa, what happened in Nigeria greatly mattered so much to it.
The British High Commissioner, Richard Montgomery, made the disclosure while paying a courtesy visit to the

From Adanna Nnamani, Abuja
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that the 2026 licensing round will commence no later than the third quarter of 2026, following approval from the Minister of Petroleum Resources in line with the provisions of the Petroleum Industry Act (PIA).
According to a statement from the NUPRC, the Commission Chief Executive, Mrs Oritsemeyiwa Eyesan, disclosed this on Wednesday during a visit by the management of Meren Energy, formerly A

By Adewale Sanyaolu
The Minister of State for Petroleum Resources (Gas), Mr Ekperikpe Ekpo, has stated that the joint commitment of Nigeria, Algeria, and Niger to the Trans-Saharan Gas Pipeline (TSGP) project is set to significantly strengthen Africa’s regional energy security.
Ekpo disclosed this on Thursday during the 5th Ministerial Meeting of the TSGP Steering Committee. The high-level session in Algiers included ministerial delegations from the three participating nations and a strat

By Steve Agbota
The National Inland Waterways Authority (NIWA) has expressed deep concern over the frequent overloading of barges with shipping containers on internal waterways.
The Lagos Area Manager of NIWA, Engr. Sarat Braimah, disclosed this at the SCAN Dockworkers’ Day 2026 event, organised by the Shipping Correspondents Association of Nigeria in Lagos. She warned that overloaded barges pose severe accident risks to oncoming tugboats and other vessels utilising the water routes.
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From Sola Ojo, Abuja
The Mayor of London, Sadiq Khan, hosted the inaugural London-Africa Business Summit, bringing together more than 200 business leaders, investors and policy-makers from across Africa and the United Kingdom to strengthen trade and investment relations between the two regions.
The summit, held at City Hall in London, followed Khan’s landmark trade mission to Nigeria, Ghana and South Africa in 2025, which was the first such mission undertaken by a London mayor.
The detail