https://www.newslocker.com/en-ng/news/nigeria-economy-news/en-ngCopyright (C) 2026 newslocker.comFri, 12 Jun 2026 03:56:00 +0200  
By Chinelo Obogo    
talktonelo@yahoo.comDespite investing $13 million in acquiring a Boeing 737 flight simulator six years ago to boost local pilot training capacity, Nigeria continues to lose millions of dollars annually as domestic airlines have been forced to explore foreign training centres for mandatory pilot certification and recurrent programmes.Aviation stakeholders, who frowned at this anomaly, warned that th]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/idle-ncat-13m-simulator-forces-local-airlines-to-train-pilots-abroad/Fri, 12 Jun 2026 03:56:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/idle-ncat-13m-simulator-forces-local-airlines-to-train-pilots-abroad/  
The Nigerian Civil Aviation Authority’s Director of Public Affairs and Consumer Protection, Michael Achimugu, recently clinched the Director of the Year at the 2026 NIGAV Awards and an aviation stakeholder, Agbo Erasmus shared his thoughts in this interview on the significance of the recognition and the future of the industry.
The NIGAV Awards just held its 15th edition, how would you describe the significance of the event?
This was a landmark edition because the t]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ncaa-spokesman-has-given-air-passengers-platform-voice-erasmus/Fri, 12 Jun 2026 03:53:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ncaa-spokesman-has-given-air-passengers-platform-voice-erasmus/ nwekemaduka88@gmail.com 
Nigeria’s urban housing crisis is tightening its grip on millions of city dwellers as rents in major commercial centres continue to rise beyond the reach of average income earners, prompting renewed calls from real estate stakeholders for a shift toward rent-to-own housing models as a long-term solution.
From Lagos to Abuja, Port Harcourt to Kano, tenants are facing one of the sharpest rental escalations in recent memory, driven by a combinatio]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/housing-crunch-urban-dwellers-push-for-rent-to-own-model/Fri, 12 Jun 2026 03:51:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/housing-crunch-urban-dwellers-push-for-rent-to-own-model/ Insecurity, multiple taxation, high interest rates and other cost-related pressures remain the biggest challenges confronting businesses in Nigeria, despite growing optimism about the country’s economic outlook, according to the Central Bank of Nigeria’s (CBN) May 2026 Business Expectations Survey (BES).
The survey revealed that insecurity ranked as the most significant constraint facing firms, scoring 72.9 points on the index of business challenges. This was fol]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/insecurity-multiple-taxes-others-top-business-concerns-in-nigeria/Fri, 12 Jun 2026 03:48:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/insecurity-multiple-taxes-others-top-business-concerns-in-nigeria/ The firm, in a cybersecurity advisory issued on Tuesday, warned that threat actors have increasingly targeted both public and private sector institutions, exposing sensitive data and highlighting weakn]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/tech-firm-warns-of-rising-cyber-breaches-urges-stronger-security-measures/Fri, 12 Jun 2026 03:47:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/tech-firm-warns-of-rising-cyber-breaches-urges-stronger-security-measures/ The Group reported a Profit Before Tax of N1.007 trillion for the year, alongside a rise in total assets to N51.56 trillion and continued growth in customer deposits, reflecting sustained expansion across its financial services ecosystem.
Chairman, Aigboje Aig-Imoukhuede, tol]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/access-holdings-targets-value-creation-after-n1trn-profit/Fri, 12 Jun 2026 03:46:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/access-holdings-targets-value-creation-after-n1trn-profit/   
The President, represented at the ceremony by Vice President Kashim Shettima, defied heavy rai]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/tinubu-opens-arterial-road-n5-hails-julius-bergers-execution/Fri, 12 Jun 2026 03:44:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/tinubu-opens-arterial-road-n5-hails-julius-bergers-execution/ Speaking at the session, Co-Founder of ORDA Africa, Olakunle Ogung]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/experts-seek-adequate-infrastructure-systems-to-drive-e-commerce-growth/Fri, 12 Jun 2026 03:39:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/experts-seek-adequate-infrastructure-systems-to-drive-e-commerce-growth/ The initiative forms part of the Foundation’s National Food Intervention Programme aimed at cushioning the effects of prevailing economic challenges on ordinary Nigerians. The distribution exercise, which is being rolled out across communities where Dangote Cement operate]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/dangote-foundation-donates-rice-to-host-communities/Fri, 12 Jun 2026 03:38:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/dangote-foundation-donates-rice-to-host-communities/ Nigeria’s crude oil production rose above its Organisation of the Petroleum Exporting Countries (OPEC) quota in May 2026, reaching its highest level in 11 months and reinforcing the country’s position as Africa’s leading oil producer.
Data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Wednesday, showed that the country produced an average of 1,530,354 barrels of crude oil per day (bpd) and 17]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/oil-output-hits-18m-bpd-exceeds-opec-quota/Fri, 12 Jun 2026 02:49:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/oil-output-hits-18m-bpd-exceeds-opec-quota/ The commitment emerged from bilateral talks between Nigeria’s Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, and Alberta’s Minister of Energy and Minerals, Brian Jean, held in Calgary, Canada yesterday. The meeting fo]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-alberta-target-methane-reduction-gas-monetisation-skills-development/Fri, 12 Jun 2026 02:48:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-alberta-target-methane-reduction-gas-monetisation-skills-development/ The award recognises ongoing reforms and policy actions at the apex bank, particularly efforts aimed at strengthening monetary stability, improving foreign exchange management and restoring confidence in Nigeria’s financial system.
In his acceptance speech, Cardoso dedicated the award to t]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/cardoso-receives-global-central-bank-of-the-year-award-in-london/Fri, 12 Jun 2026 02:45:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cardoso-receives-global-central-bank-of-the-year-award-in-london/ Following notification of the occurrence on Wednesday, June 10, 2026, the NSIB activated its emergency response procedures, deployed a Go Team (investigative team) to the site near Asaba, Delta State, and commenced investigation into the incident involving the pr]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nsib-recovers-black-boxes-in-delta-road-landing-probe/Fri, 12 Jun 2026 02:44:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nsib-recovers-black-boxes-in-delta-road-landing-probe/ Nigeria’s crude oil production rose above its Organisation of the Petroleum Exporting Countries (OPEC) quota in May 2026, reaching its highest level in 11 months and reinforcing the country’s position as Africa’s leading oil producer.
Data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Wednesday showed that the country produced an average of 1,530,354 barrels of crude oil per day (bpd) and 170,446 bpd of condensates durin]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-exceeds-opec-quota-as-oil-production-hits-11-month-high/Thu, 11 Jun 2026 18:31:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-exceeds-opec-quota-as-oil-production-hits-11-month-high/https://www.newslocker.com/en-ng/news/nigeria-economy-news/fcmb-appoints-bismarck-rewane-as-non-executive-director-board-of-directors-chairman/Thu, 11 Jun 2026 17:30:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fcmb-appoints-bismarck-rewane-as-non-executive-director-board-of-directors-chairman/ Kenya’s Retirement Benefits Authority (RBA) is currently in Nigeria, at the time of filing this report, to understudy the regulatory and supervisory framework of Nigeria’s National Pension Commission (PenCom) as part of efforts to strengthen pension administration, deepen compliance and enhance industry oversight in Kenya.
PenCom received a four-member Kenyan delegation, led by John Keah, Director of Market Conduct and Industry Development at the RBA, on a four-day tech]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/pencoms-regulatory-model-attracts-kenya-pension-authoritys-attention/Thu, 11 Jun 2026 17:25:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/pencoms-regulatory-model-attracts-kenya-pension-authoritys-attention/ The Nigerian Safety Investigation Bureau (NSIB) has recovered and secured the Cockpit Voice Recorder (CVR) and Flight Data Recorder (FDR) from the Bombardier Challenger CL-601 aircraft, registration N989BC, operated by VMO Aero Limited.
Following notification of the occurrence on Wednesday, June 10, 2026, the NSIB activated its emergency response procedures, deployed a Go Team (investigative team) to the site near Asaba, Delta State, and commenced investigation into the incident]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nsib-retrieves-cockpit-voice-flight-data-recorders-in-probe-of-aircraft-roadway-landing-in-delta/Thu, 11 Jun 2026 17:08:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nsib-retrieves-cockpit-voice-flight-data-recorders-in-probe-of-aircraft-roadway-landing-in-delta/ The recent]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbns-new-fx-manual-may-raise-dollar-liquidity-enhance-market-confidence/Thu, 11 Jun 2026 16:45:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbns-new-fx-manual-may-raise-dollar-liquidity-enhance-market-confidence/ Fresh controversy has erupted in Nigeria’s fast-growing airtime and data lending sector, as Nigerians demand greater transparency regarding the ownership and operations of firms linked to a market estimated to be worth more than N400 billion annually.
The debate, which gained traction on social media following a viral post by popular blogger Tunde Ednut, has shifted from allegations of a market takeover to broader concerns about corporate ownership, competition, and regul]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/airtime-lending-controversy-raises-transparency-concerns-in-nigeria/Thu, 11 Jun 2026 16:28:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/airtime-lending-controversy-raises-transparency-concerns-in-nigeria/ The Aviation Ground Handlers Association of Nigeria (AGHAN) has suspended ground handling services to Max Air over an alleged debt estimated at nearly ₦1 billion.
AGHAN enforced the action on Thursday after accusing the airline of failing to meet its financial obligations. Speaking on the development, AGHAN Chairman, Mr. Olaniyi Adigun, said the decision became necessary after Max Air allegedly refused to engage in discussions aimed at reconciling and settling its outstand]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/aghan-suspends-groundhadling-services-for-max-air-over-alleged-1bn-debt/Thu, 11 Jun 2026 15:05:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/aghan-suspends-groundhadling-services-for-max-air-over-alleged-1bn-debt/ The federal government has launched the Early-Stage Mineral Exploration and Research Grant Endowment (EMERGE) programme in a bold move to unlock Nigeria’s vast mineral wealth and drive industrial growth.
Unveiling the initiative, Minister of Solid Minerals Development, Dele Alake, said the programme will boost mineral exploration, support critical minerals development, and fund research to accelerate value addition in the mining sector.
He said EMERGE will foc]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-unveils-minerals-exploration-grants-to-deepen-mining-industrialisation/Thu, 11 Jun 2026 12:15:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-unveils-minerals-exploration-grants-to-deepen-mining-industrialisation/https://www.newslocker.com/en-ng/news/nigeria-economy-news/niwa-warns-operators-against-overloading-barges-on-lagos-waterways/Thu, 11 Jun 2026 07:34:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/niwa-warns-operators-against-overloading-barges-on-lagos-waterways/https://www.newslocker.com/en-ng/news/nigeria-economy-news/fccpc-ntda-align-on-service-standards-to-drive-tourism-growth/Thu, 11 Jun 2026 07:27:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fccpc-ntda-align-on-service-standards-to-drive-tourism-growth/https://www.newslocker.com/en-ng/news/nigeria-economy-news/nrs-launches-rev360-to-ease-tax-compliance-identify-evaders/Thu, 11 Jun 2026 07:14:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nrs-launches-rev360-to-ease-tax-compliance-identify-evaders/https://www.newslocker.com/en-ng/news/nigeria-economy-news/aiico-declares-n44bn-dividend-appouints-non-executive-directors/Thu, 11 Jun 2026 07:11:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/aiico-declares-n44bn-dividend-appouints-non-executive-directors/https://www.newslocker.com/en-ng/news/nigeria-economy-news/afcfta-targets-250bn-intra-african-trade/Thu, 11 Jun 2026 07:06:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/afcfta-targets-250bn-intra-african-trade/https://www.newslocker.com/en-ng/news/nigeria-economy-news/workers-under-30yrs-dominate-pension-scheme/Thu, 11 Jun 2026 07:02:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/workers-under-30yrs-dominate-pension-scheme/https://www.newslocker.com/en-ng/news/nigeria-economy-news/nerc-gives-discos-fresh-technical-commercial-reporting-obligations/Thu, 11 Jun 2026 05:23:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nerc-gives-discos-fresh-technical-commercial-reporting-obligations/ Director General of MAN, Segun Ajayi-Kadir made the disclosure while receiving members of the executive council of the Commerce and Industry Correspondents Association of Nigeria (CICAN) during a courtesy visit in Lagos, yesterday.
According to hi]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/man-60-of-north-east-factories-shut-as-insecurity-cripples-industry/Thu, 11 Jun 2026 04:40:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/man-60-of-north-east-factories-shut-as-insecurity-cripples-industry/ In a statement from NCAA’s Director Public Affairs & Consumer Protection, Michael Achimugu, the Authority said the aircraft conducted a missed approach at approximately 0743 local time while attempting to land at Asaba.
The Authority further said that the aircraft landed on a roadway in the Ogwashi-Uku are]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ncaa-grounds-aircraft-suspends-permit-over-illegal-lagos-flight/Thu, 11 Jun 2026 04:39:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ncaa-grounds-aircraft-suspends-permit-over-illegal-lagos-flight/ The report provides a comprehensive overview of HabariPay’s transformation from a newly established fintech company into a major player in the country’s payment infrastructure space. It highlights key milestones, s]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/habaripay-unveils-maiden-impact-report-flaunts-growth-in-digital-payments/Thu, 11 Jun 2026 04:38:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/habaripay-unveils-maiden-impact-report-flaunts-growth-in-digital-payments/ The International Monetary Fund (IMF) has said that stronger demand for the naira could create conditions for a gradual reduction in Nigeria’s high Cash Reserve Ratio (CRR), easing liquidity constraints in the banking sector and strengthening monetary policy transmission over time.
The Fund made the observation in its June 2026 country report, Nigeria: Selected Issues, where it assessed the effectiveness of monetary policy reforms and the functioning of the country&rsq]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/imf-stronger-naira-demand-may-pave-way-for-lower-crr-in-nigeria/Thu, 11 Jun 2026 04:36:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/imf-stronger-naira-demand-may-pave-way-for-lower-crr-in-nigeria/ AIML is a subsidiary of The Assetium Group, a multi-vertical investment and business conglomerate with a footprint spanning investment management, real estate and hospitality, agriculture and commodity trading, business advisory and consulting.
At the helm of AIML as Managi]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/assetium-grows-assets-under-management-to-n5bn-in-6-weeks/Thu, 11 Jun 2026 04:36:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/assetium-grows-assets-under-management-to-n5bn-in-6-weeks/ Following detailed assessment of applications, the iDICE Startup Bridge has on-boarded 185 founders into the inaugural cohort of its Founders Lab, marking one of the first major milestones in the rollout of the broader Investment in Digital and Creative Enterprises (iDICE) Programme.
iDICE is an initiative of the Federal Government that was launched in 2023, as part of the administration’s broader agenda to drive innovation, youth enterprise, and economic diversification.]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fgs-idice-programme-onboards-185-into-inaugural-founders-lab-batch/Thu, 11 Jun 2026 04:32:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fgs-idice-programme-onboards-185-into-inaugural-founders-lab-batch/ Speaking at the company’s 4th Annual General Meeting (AGM) held in Lagos on Wednesday, Chairman, Aigboje Aig-Imoukhuede said the decision to withhold dividends was necessary to align with regulatory ex]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/well-resume-dividend-payment-after-regulatory-clearance-access-holdings-2/Thu, 11 Jun 2026 04:31:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/well-resume-dividend-payment-after-regulatory-clearance-access-holdings-2/ Speaking at the company’s 4th Annual General Meeting (AGM) held in Lagos on Wednesday, Chairman, Aigboje Aig-Imoukhuede said the decision to withhold dividends was necessary to align with regulatory ex]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/well-resume-dividend-payment-after-regulatory-clearance-access-holdings/Thu, 11 Jun 2026 04:31:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/well-resume-dividend-payment-after-regulatory-clearance-access-holdings/ Comptroller-General of Customs, Adewale Adeniyi, disclosed this on Friday, June 5, 2026, during a stakeholder engagement with players in the vegetable oil industry at the Customs Headquarters in Abuja.
Adeniyi said the Service is stepping up]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/customs-unveils-special-operations-to-curb-vegetable-oil-smuggling-protect-local-industry/Thu, 11 Jun 2026 04:29:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/customs-unveils-special-operations-to-curb-vegetable-oil-smuggling-protect-local-industry/ The RMAFC Chairman, Dr. Mohammed Shehu, made the reaffirmation while receiving a delegation from the Joint Revenue Board (JRB) led by its Executive Secretary, Mr. Olusegun Adesokan who paid him a courtesy visit, today in Abuja.
Shehu emphasised t]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/rmafcll-be-fair-in-revenue-sharing-chairman/Thu, 11 Jun 2026 04:28:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/rmafcll-be-fair-in-revenue-sharing-chairman/ Minister of State for Petroleum Resources (Gas), Mr. Ekperikpe Ekpo, has stepped up efforts to position Nigeria as a leading destination for investment in the global gas industry.
The Minister stated this while addressing investors, energy executives and policymakers at the 2026 Global Energy Show in Calgary, Canada. Ekpo highlighted the Federal Government’s ongoing reforms designed to create a more competitive and investor-friendly energy sector. He said the measures a]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ekpo-showcases-nigerias-gas-reforms-woos-investors-at-global-energy-show/Thu, 11 Jun 2026 04:27:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ekpo-showcases-nigerias-gas-reforms-woos-investors-at-global-energy-show/ Mr. Rewane is a respected economist and experienced leader in Nigeria’s financial sector, with more than 40 years of experience in macroeconomic research, investment banking, and strategic management. He is the Managing Director at Financial Derivatives Company Limited, a top financial adviso]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fcmb-appoints-rewane-non-executive-director-board-chairman/Thu, 11 Jun 2026 04:16:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fcmb-appoints-rewane-non-executive-director-board-chairman/  
Although the incumbent administration of President Bola Tinubu easily claims to have stabilised the economy, Manufacturers in Nigeria and SMEs generally may beg to differ.
They are grappling with mounting economic pressures driven by persistent supply chain disruptions, high borrowing costs, u]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/costly-loans-fx-volatility-rattle-manufacturers-despite-fgs-claims-of-economic-stability/Thu, 11 Jun 2026 04:14:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/costly-loans-fx-volatility-rattle-manufacturers-despite-fgs-claims-of-economic-stability/  
Nigeria’s organised private sector (OPS) has urged the federal government to adopt a balanced, evidence-based and coordinated approach to excise taxation, warning that plans to increase taxes on sugar-sweetened beverages (SSBs) could threaten jobs, investment and industrial growth.
Speaking on behalf of the non-alcoholic drinks sector, the Manufacturers Association of Nigeria (MAN) expressed concern over the Customs and Excise Tariff (Consolidation) Act Amendment Bill 2]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ops-rejects-ssb-tax-hike-cites-threat-to-jobs-investments/Thu, 11 Jun 2026 04:13:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ops-rejects-ssb-tax-hike-cites-threat-to-jobs-investments/ To promote seamless intra-African trade and support Nigerian exporters, the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), recently undertook a strategic road trip from Nigeria to Togo, starting from Lagos, through the Seme Border to identify operational constraints affecting the smooth movement of goods across borders.
The fact-finding mission on its way to participate at the Biashara Afrika 2026 in Lomé, Togo, provided NACCIMA deleg]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/naccima-flags-multiple-barriers-hindering-cross-border-trade/Thu, 11 Jun 2026 04:11:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/naccima-flags-multiple-barriers-hindering-cross-border-trade/ Nestlé Nigeria has launched a multi-stakeholder coalition to drive sustained environmental action in commemoration of 2026 World Environment Day.Building on six years of nationwide awareness and clean-up initiatives, the coalition represents a coordinated and systems-led approach that brings together government, regulators, industry, recyclers and development partners to advance circular economy outcomes. The programme will be delivered across 12 locations nationwide through]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nestl-unveils-multi-stakeholder-coalition-to-scale-environmental-action/Thu, 11 Jun 2026 04:09:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nestl-unveils-multi-stakeholder-coalition-to-scale-environmental-action/  
A dairy brand from FrieslandCampina WAMCO Nigeria Plc, Peak Milk, has reinforced its commitment to empowering consumers with knowledge that supports healthy nutrition choices.
Celebrating World Milk Day 2026, the company brought thousands of Nigerians together through its nationwide “Show Peak Love” campaign and a landmark Longest Breakfast Table Experience with Asherkine at Ikeja, Lagos.
The campaign, which was designed to celebrate everyday Breakfast Heroes as w]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/peak-milk-advances-consumer-centric-growth-agenda/Thu, 11 Jun 2026 04:07:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/peak-milk-advances-consumer-centric-growth-agenda/ Stakeholders in Nigeria’s digital ecosystem have raised concerns over the country’s growing dependence on foreign digital infrastructure, warning that Nigeria loses an estimated $850 million annually through the use of foreign domains, offshore hosting services and non-indigenous digital platforms.
The concern was raised at the third edition of Tech Convergence organised by the Nigerian Internet Registration Association (NiRA) in Abuja.The conference, themed &ldqu]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/experts-raise-alarm-over-850m-annual-digital-revenue-loss/Wed, 10 Jun 2026 17:13:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/experts-raise-alarm-over-850m-annual-digital-revenue-loss/ The Equipment Leasing Registration Authority (ELRA) and the National Agricultural Development Fund (NADF) have joined forces to expand farmers’ access to modern agricultural equipment, in a move aimed at boosting food production and strengthening food security across Nigeria.
The two agencies signed a Memorandum of Understanding (MoU) in Abuja to deploy structured equipment leasing arrangements that will enable farmers, cooperatives and agribusinesses to acquire criti]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/elra-nadf-partner-to-unlock-farm-mechanisation-boost-food-security/Wed, 10 Jun 2026 17:08:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/elra-nadf-partner-to-unlock-farm-mechanisation-boost-food-security/ The International Monetary Fund (IMF) has raised concerns over Nigeria’s plan to secure up to $5 billion in external financing through a derivatives-based arrangement with the First Abu Dhabi Bank in the United Arab Emirates.
The warning was issued by Christian Ebeke, the IMF’s resident representative in Nigeria, who told journalists that such financial structures are often complex and lack transparency in their terms.
According to him, similar transactions in other]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/imf-questions-nigerias-5bn-borrowing-structure/Wed, 10 Jun 2026 16:10:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/imf-questions-nigerias-5bn-borrowing-structure/ The International Maritime Institute of Nigeria (IMION) has called for increased investment in knowledge, innovation and sustainable policies to safeguard the future of the oceans and promote environmental sustainability.
The Director-General of IMION, Dr Thaddeus Udofia, made the call in a statement to commemorate the 2026 World Oceans Day, observed annually on June 8.
Speaking on this year’s theme, “Reimagine: Beyond the World We Know, A New Relationship with Our Oc]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/imion-calls-for-greater-investment-in-blue-economy-sustainable-ocean-governance/Wed, 10 Jun 2026 14:18:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/imion-calls-for-greater-investment-in-blue-economy-sustainable-ocean-governance/ Speaking at a four-day parliamentary and stakeholders’ engagement summit on power sector reforms in Nigeria, Abdulaziz said the transmission network]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/tcn-nigerias-grid-can-wheel-8700mw-highest-power-delivered-still-5801mw/Wed, 10 Jun 2026 04:40:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/tcn-nigerias-grid-can-wheel-8700mw-highest-power-delivered-still-5801mw/ Nwabueze made the appeal during a breakfast meeting with financial correspondents in Abuja on Tuesday, where he emphasised the critical role of the media in deepening public understanding of Nigeria’s]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/tax-ombud-seeks-media-support-to-deepen-tax-reform-awareness/Wed, 10 Jun 2026 04:35:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/tax-ombud-seeks-media-support-to-deepen-tax-reform-awareness/ By Chinelo Obogo
One of Nigeria’s leading airlines, United Nigeria Airlines, has joined the nation in commemorating June 12, Nigeria’s official Democracy Day by supporting Kalakiri, the latest Nigerian movie whose central theme is the celebration of democracy and national unity.
The airline, known for connecting Nigerians across the country’s diverse communities, said its partnership with the film is a deliberate and values-driven dec]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/june-12-why-united-nigeria-airlines-is-celebrating-democracy-day-with-kalakiri-film-olawuyi-cco/Wed, 10 Jun 2026 04:33:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/june-12-why-united-nigeria-airlines-is-celebrating-democracy-day-with-kalakiri-film-olawuyi-cco/ The appointments were announced in a notice filed with the Nigerian Exchange Limited (NGX) on Tuesday and signed by the company secretary, Edith Onwuchekwa.
Elumelu will succeed Udoma Udo Udoma as Chairman effective January 2027, while Okon will assume the role of]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/elumelu-named-seplat-energy-chairman-okon-appointed-ceo/Wed, 10 Jun 2026 04:31:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/elumelu-named-seplat-energy-chairman-okon-appointed-ceo/ The new company combines EFL Africa’s local infrastructure and operational experience with CEVA Logistics’ international network spanning more than 170 countries. The partners said the venture is designed to provide integrated logistics solutions for busin]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/firms-unveil-joint-venture-to-boost-nigerias-logistics-sector/Wed, 10 Jun 2026 04:30:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/firms-unveil-joint-venture-to-boost-nigerias-logistics-sector/https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-trade-surplus-rises-91-to-n755trn-in-q126/Wed, 10 Jun 2026 04:15:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-trade-surplus-rises-91-to-n755trn-in-q126/https://www.newslocker.com/en-ng/news/nigeria-economy-news/foreign-investment-in-manufacturing-slumps-507-to-152m-in-q126/Wed, 10 Jun 2026 04:06:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/foreign-investment-in-manufacturing-slumps-507-to-152m-in-q126/https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-6-states-woo-investors-at-invest-in-lagos-30-summit/Wed, 10 Jun 2026 03:54:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-6-states-woo-investors-at-invest-in-lagos-30-summit/https://www.newslocker.com/en-ng/news/nigeria-economy-news/uba-wins-2026-banker-technology-award-for-ai-innovation-launches-upgraded-app/Wed, 10 Jun 2026 03:47:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/uba-wins-2026-banker-technology-award-for-ai-innovation-launches-upgraded-app/https://www.newslocker.com/en-ng/news/nigeria-economy-news/ssb-tax-threatens-33-manufacturing-output-15m-jobs-man/Wed, 10 Jun 2026 03:40:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ssb-tax-threatens-33-manufacturing-output-15m-jobs-man/ For maritime experts, Nigeria’s seaports must be pushed to embrace green reforms as global shipping shifts toward cleaner, more efficient operations.With major maritime hubs already investing in low-carbon infrastructure and sustainable port systems, they warn that Nigeria risks losing competitiveness if it fails to quickly ad]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/why-nigerias-seaports-must-go-green-to-stay-competitive/Wed, 10 Jun 2026 03:02:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/why-nigerias-seaports-must-go-green-to-stay-competitive/ By Chinelo Obogo
Presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has blasted the administration of President Bola Tinubu, accusing the Federal Government of reckless borrowing, financial mismanagement, and lack of accountability in the deployment of public funds.
Obi, in a post made on his X handle on Tuesday, said the Tinubu administration had driven Nigeria’s total de]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/tinubu-has-plunged-nigeria-into-n200trn-debt-obi/Wed, 10 Jun 2026 02:56:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/tinubu-has-plunged-nigeria-into-n200trn-debt-obi/ According to the company’s latest annual report, revenue rose by 34.1 per cent from N566.71 billion recorded in 2024, driven by increased activities across its key business operations.
Profit Before Tax also grew by 38.5 per cent to N40.95 billion,]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/julius-berger-grows-revenue-by-34-profit-hits-n30bn-ahead-of-agm/Wed, 10 Jun 2026 02:53:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/julius-berger-grows-revenue-by-34-profit-hits-n30bn-ahead-of-agm/ The announcement was made during the Bank’s 11th Annual General Meeting (AGM), where shareholders approved the audited financial statements for the year ended December 31, 2025, and commended the institution’s performance, successful recapitalisation, a]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/quest-merchant-bank-eyes-market-leadership/Wed, 10 Jun 2026 02:51:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/quest-merchant-bank-eyes-market-leadership/ The Summit is scheduled to hold on June 16, 2026, at the Lagos Oriental Hotel, Victoria Island, Lagos, with the theme, “Policy Reforms & Corporate Competitiveness: Navigating Towards a Sustainable Edge.”A statement by the Project Manager of PEA]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/policymakers-regulators-others-for-pearl-awards/Wed, 10 Jun 2026 02:47:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/policymakers-regulators-others-for-pearl-awards/ A bill that would significantly reshape Nigeria’s cryptocurrency and digital asset industry by introducing a legal framework for the regulation of virtual asset service providers has scaled its second reading in the Senate.
The proposed legislation, titled the Virtual Assets Service Providers (Regulation) Bill, 2026, scaled its second reading on Tuesday after lawmakers argued that the absence of clear rules has exposed millions of Nigerians to fraud, financial los]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/senate-moves-to-regulate-cryptocurrency-sector-seeks-investor-protection/Tue, 09 Jun 2026 18:03:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/senate-moves-to-regulate-cryptocurrency-sector-seeks-investor-protection/ The Senate has called for a total ban on all importation of textile materials into Nigeria as part of efforts to revive the nation’s industry.
This is just as it called on the Federal Government, Ministry of Agriculture and Ministry of Trade and Investmnent to, as a matter of urgency, ensure the revival of textile industries in Nigeria to create job opportunities for the unemployed, thereby addressing youth restiveness and attendant insecurity.
It also asked the ex]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/senate-seeks-ban-on-importation-of-textile-materials-to-revive-industries/Tue, 09 Jun 2026 16:45:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/senate-seeks-ban-on-importation-of-textile-materials-to-revive-industries/https://www.newslocker.com/en-ng/news/nigeria-economy-news/agric-sector-records-315-growth-in-gdp-to-1187trn/Tue, 09 Jun 2026 08:58:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/agric-sector-records-315-growth-in-gdp-to-1187trn/https://www.newslocker.com/en-ng/news/nigeria-economy-news/finance-ministry-contractors-clash-again-over-outstanding-debt/Tue, 09 Jun 2026 08:50:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/finance-ministry-contractors-clash-again-over-outstanding-debt/ When President Bola Ahmed Tinubu marks three years in office on June 12, 2026, investors may find reasons to celebrate while many households continue to struggle.
The administration’s bold reforms, from scrapping fuel subsidies to liberalising the foreign-exchange market, have reshaped Nigeria’s economic landscape, restored investor interest and strengthened government finances.
Yet, those same measures have fueled inflation, eroded incomes and intensified a cost]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/tinubu-3-between-economic-recovery-and-rising-hardship/Tue, 09 Jun 2026 02:04:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/tinubu-3-between-economic-recovery-and-rising-hardship/ Nigeria’s banking sector opened 2026 with a robust liquidity position, as the country’s top 10 banks collectively mobilised N137 trillion in customer deposits in the first quarter of the year.
The figures, drawn from industry disclosures, reinforce the continued dominance of Tier-One lenders in deposit mobilisation, even as competition from fintechs and alternative savings platforms intensifies.
Access Holdings maintained its lead as the largest deposit custodian]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/q1-nigerias-top-banks-pool-n123trn-in-deposits-as-liquidity-strength-deepens/Tue, 09 Jun 2026 02:02:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/q1-nigerias-top-banks-pool-n123trn-in-deposits-as-liquidity-strength-deepens/ As Nigeria intensifies efforts to modernise tax administration and improve revenue collection, fintech firm Afri Invoice has secured accreditation from the Nigeria Revenue Service (NRS) as an official Access Point Provider (APP), positioning the company to support businesses in complying with the country’s mandatory electronic invoicing regime.
The accreditation comes ahead of the July implementation deadline for the next phase of Nigeria’s e-invoicing programme a]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/afri-invoice-secures-accreditation-for-nigerias-e-invoicing-rollout/Tue, 09 Jun 2026 02:01:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/afri-invoice-secures-accreditation-for-nigerias-e-invoicing-rollout/https://www.newslocker.com/en-ng/news/nigeria-economy-news/nbs-imports-fell-to-n1362trn-in-q1-2026-from-n1664trn-in-q1-2025/Tue, 09 Jun 2026 01:48:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nbs-imports-fell-to-n1362trn-in-q1-2026-from-n1664trn-in-q1-2025/ The announcement was made at the 16th edition of the Brand Africa 100: Africa’s Best Brands survey in Addis Ababa, Ethiopia. The study, regarded as the continent’s most comprehensive consumer-led brand assessment, spans 30 countries covering over 85 per cent of Africa’s population and economic activity.]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/dangote-retains-africas-most-admired-brand-title-for-8th-straight-year/Tue, 09 Jun 2026 01:39:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/dangote-retains-africas-most-admired-brand-title-for-8th-straight-year/https://www.newslocker.com/en-ng/news/nigeria-economy-news/agip-retirees-protest-17-years-unpaid-pension-arrears/Tue, 09 Jun 2026 01:35:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/agip-retirees-protest-17-years-unpaid-pension-arrears/ The fund, which targets a total of $200 million, is designed to channel both local and foreign capital into energy transition and climate-resilient projects in Sub-Saharan Africa. It will allow investments in both U.S. dollars and local African currencies within the same structure&]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/arm-harith-raises-76m-to-launch-africa-climate-transition-fund/Tue, 09 Jun 2026 01:27:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/arm-harith-raises-76m-to-launch-africa-climate-transition-fund/ By Chinwendu Obienyi
Nigeria’s foreign exchange (FX) market is showing renewed segmentation as unmet demand in the official window continues to drive activity in the informal segment, Daily Sun learnt on Monday. In the parallel market, the naira was quoted at N1,395/$1 for buying and N1,400/$1 for selling at the resumption of business, reflecting sustained demand pressure outside the official FX channel.The pricing indicates continue]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/unmet-fx-demand-triggers-informal-market-activity-dollar-trades-at-n1395/Tue, 09 Jun 2026 01:25:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/unmet-fx-demand-triggers-informal-market-activity-dollar-trades-at-n1395/ Lagos State Governor, Babajide Sanwo-Olu, has intensified efforts to attract local and foreign investments into Lagos, declaring the state as Africa’s foremost investment gateway with vast opportunities for trade, innovation, infrastructure development and economic expansion.
Speaking at the opening of the third edition of the Invest Lagos Summit 3.0 on Monday, Sanwo-Olu said Lagos remained strategically positioned to leverage opportunities presented]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/invest-lagos-summit-sanwo-olu-woos-global-investors-secures-commonwealth-backing/Tue, 09 Jun 2026 01:24:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/invest-lagos-summit-sanwo-olu-woos-global-investors-secures-commonwealth-backing/ Speaking at the 52nd African Insurance Organisation (AIO) Conference, industry stakeholders said Africa’s low insurance penetration should be viewed as a major growth opportunity rather than a structural weakness.
The Commissioner for Insurance a]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/african-leaders-push-digital-shift-regulatory-overhaul-to-unlock-68bn-insurance-market/Tue, 09 Jun 2026 01:22:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/african-leaders-push-digital-shift-regulatory-overhaul-to-unlock-68bn-insurance-market/ The International Air Transport Association (IATA) has identified Nigeria as one of the most expensive countries in the world in which to operate an airline, citing high operational costs that continue to challenge the viability and growth of local carriers.
Speaking at the IATA Annual General Meeting held in Brazil, IATA’s Regional Vice President for Africa and the Middle East, Kamil Al-Awadhi, said that despite ongoing efforts by Nigeria’s Minister of Aviation and]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-among-worlds-most-expensive-countries-for-airline-operations-iata/Tue, 09 Jun 2026 01:21:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-among-worlds-most-expensive-countries-for-airline-operations-iata/ United Capital Plc has secured regulatory licences to provide investment banking and related financial services in Rwanda and Ethiopia, expanding its footprint into East Africa and becoming the first foreign institution licensed to offer investment banking services in Ethiopia.
The financial services group said the approvals mark a significant step in its pan-African expansion strategy and position it to participate in the development of capital markets in both countries.
Gro]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/united-capital-secures-licence-to-operate-in-rwanda-ethiopia/Tue, 09 Jun 2026 01:19:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/united-capital-secures-licence-to-operate-in-rwanda-ethiopia/ Interswitch will use Temenos solutions across core banking, digital banking, payments, wealth management and]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/interswitch-temenos-partner-to-scale-digital-banking-services-across-africa/Tue, 09 Jun 2026 01:18:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/interswitch-temenos-partner-to-scale-digital-banking-services-across-africa/ The decision was reached at the 109th meeting of the NCC Governing Board held on May 25, 2026, and contained in a communiqué dated May 29, 2026, which was made available to Daily Sun.
Acco]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ncc-telecom-operators-complete-5000-new-network-sites-75-million-subscribers-compensated/Mon, 08 Jun 2026 23:08:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ncc-telecom-operators-complete-5000-new-network-sites-75-million-subscribers-compensated/ Governor Hope Uzodimma of Imo State has declared that the state is ready for local and foreign investments, citing major improvements in infrastructure, security, power supply and ease of doing business.
Speaking at the third edition of Invest Lagos 3.0, themed “Lagos: The Business Gateway to Africa,” held at Eko Hotel and Suites, Victoria Island, Lagos, on Monday, Uzodimma said that Imo had repositioned itself as one of Nigeria’s em]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-uzodimma-woos-investors/Mon, 08 Jun 2026 19:49:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-uzodimma-woos-investors/ By Chinelo Obogo
One of Nigeria’s leading carriers, United Nigeria Airlines, has congratulated Ibom Air on its seventh anniversary with the airline’s executive chairman, Prof. Obiora Okonkwo, describing the milestone as a testament to strong leadership and team dedication.‎‎In a goodwill message addressed to Ibom Air’s Managing Director, Mr. George Uriesi, Okonkwo praised the airline for navigatin]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/united-nigeria-airlines-salutes-ibom-air-on-7th-anniversary/Mon, 08 Jun 2026 19:01:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/united-nigeria-airlines-salutes-ibom-air-on-7th-anniversary/ The International Air Transport Association (IATA) has identified Nigeria as one of the most expensive countries in the world in which to operate an airline, citing high operational costs that continue to challenge the viability and growth of local carriers.‎‎Speaking at the IATA Annual General Meeting held in Brazil, IATA’s Regional Vice President for Africa and the Middle East, Kamil Al-Awadhi, said that despite ongoing efforts by Nigeria’s Minister of Avia]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-among-worlds-most-expensive-countries-for-airline-operations-says-iata/Mon, 08 Jun 2026 18:54:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-among-worlds-most-expensive-countries-for-airline-operations-says-iata/ National Bureau of Statistics (NBS), today, said that the value of total imports stood at ₦13,619.33 billion in the first quarter of 2026, representing a 18.17 per cent decrease from the value recorded in the corresponding quarter of 2025 (₦16,644.42 billion) and a 21.05 per cent decrease compared to the value recorded in Q4 2025 (₦17,250.93 billion).
This is as China remained the leading source of imports in the first quarter of 2026, followed by the]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/total-imports-in-q1-2026-drop-to-n1361933bn-from-n1664442bn-in-q12025/Mon, 08 Jun 2026 18:42:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/total-imports-in-q1-2026-drop-to-n1361933bn-from-n1664442bn-in-q12025/https://www.newslocker.com/en-ng/news/nigeria-economy-news/equity-investors-lose-n49trn-as-market-uptrend-reverses/Mon, 08 Jun 2026 03:45:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/equity-investors-lose-n49trn-as-market-uptrend-reverses/ Investors on the Nigerian Exchange Limited (NGX) lost about N4.9 trillion in market capitalisation during the first trading week under Nigeria’s newly adopted T+1 settlement regime, as broad-based profit-taking and portfolio rebalancing triggered a market correction that pushed equities lower despite a significant increase in trading activity.
The losses came as Nigeria became the first capital market in Africa to migrate from a T+2 to a T+1 settlement cycle, a move des]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ngx-sheds-n49trn-in-first-week-of-next-day-settlement-rollout/Mon, 08 Jun 2026 03:35:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ngx-sheds-n49trn-in-first-week-of-next-day-settlement-rollout/  
Abbey Mortgage Bank Plc has received regulatory approval from the Central Bank of Nigeria (CBN) to commence operations as a commercial bank, a development that advances the institution’s ongoing transformation strategy and comes weeks after shareholders approved plans to raise up to N164.5 billion in fresh capital to support its expansion.
The bank disclosed that the approval paves the way for its transition from a primary mortgage institution to a commercial ban]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/abbey-mortgage-bank-gets-regulatory-nod-for-commercial-banking-operations/Mon, 08 Jun 2026 03:35:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/abbey-mortgage-bank-gets-regulatory-nod-for-commercial-banking-operations/ By Uche Usim
The Group Managing Director and Chief Executive Officer of Nigerian Exchange Group Plc, Temi Popoola, has called for a shift in Nigeria’s capital market focus from mere wealth generation to inclusive, sustainable and responsible wealth creation driven by strong governance and wider participation.
Speaking at the 2026 Nairametrics Capital Market Awards in Lagos, Popoola said the long-term strength]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/capital-market-should-build-lasting-wealth-not-quick-gains-popoola/Mon, 08 Jun 2026 03:32:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/capital-market-should-build-lasting-wealth-not-quick-gains-popoola/ The clarification comes despite the apex bank’s decision to waive the requirement for ordinary domiciliary account holders to complete Form A before making foreign currency remittances from their accounts.
In guidelines contained in the fo]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-banks-must-track-purpose-of-domiciliary-transfers-or-face-n100m-fine/Mon, 08 Jun 2026 03:30:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-banks-must-track-purpose-of-domiciliary-transfers-or-face-n100m-fine/ The forum, organised by dmg events in partnership with the Nigerian Content Development and Monitoring Board, will hold from November 30 to December 3, 2026.
The organisers said the event comes at a crucial period for t]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/pnc-forum-2026-to-chart-next-phase-of-nigerian-content-development/Mon, 08 Jun 2026 03:29:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/pnc-forum-2026-to-chart-next-phase-of-nigerian-content-development/ ​The event drew over 150 registrations, underscoring a growing demand for spaces where entrepreneurs can openly discuss the realities of building a business and receive actionable guidance from experienced operators.
​Founded by Dera Ndidigwe, Founder]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/founders-weight-20-connects-lagos-entrepreneurs-with-real-world-business-solutions/Mon, 08 Jun 2026 03:11:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/founders-weight-20-connects-lagos-entrepreneurs-with-real-world-business-solutions/ The Central Bank of Nigeria (CBN) withdrew N3.04 trillion from the banking system in a single Open Market Operations (OMO) auction held on June 5, 2026, after investors flooded the exercise with subscriptions far above the amount on offer.
Data reviewed from the auction results showed that the apex bank offered OMO bills worth N600 billion but received subscriptions totaling N3.275 trillion, making the exercise more than five times oversubscribed.
The strong investor demand highligh]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-withdraws-n304trn-from-economy-in-oversubscribed-treasury-bill-sale/Mon, 08 Jun 2026 03:07:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-withdraws-n304trn-from-economy-in-oversubscribed-treasury-bill-sale/ Minister of Works, Senator David Umahi, who disclosed this at the weekend, when he inspected Abuja-Keffi Highway, also slammed those fanning the embers of insecurity to desist because the menace was inherited by President Bola Tinubu adm]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/terorrism-fg-orders-military-patrols-to-secure-highways/Mon, 08 Jun 2026 03:06:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/terorrism-fg-orders-military-patrols-to-secure-highways/ The Federal Government has expressed readiness to leverage the €59 million West Africa Sustainable Ocean Programme (WASOP) as part of intensified efforts to combat illegal, unreported and unregulated (IUU) fishing while strengthening sustainable management of its marine resources.
The Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, made this known in Abuja during a meeting with the European Union Ambassador to Nigeria, Ambassador Gautier Mign]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-seeks-59m-support-to-fight-illegal-fishing-hosts-eu-envoy/Mon, 08 Jun 2026 03:05:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-seeks-59m-support-to-fight-illegal-fishing-hosts-eu-envoy/https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-domestic-air-travel-soared-to-1309m-in-2025-faan/Mon, 08 Jun 2026 03:03:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-domestic-air-travel-soared-to-1309m-in-2025-faan/ Held at the rooftop of the NCS Headquarters in Maitama, the event drew a distinguished gathering that included the Chief of the Air Staff, the Inspector-General of Police, members of the Customs Managem]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/customs-cg-rallies-global-partners-to-bolster-trade-border-security/Mon, 08 Jun 2026 03:02:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/customs-cg-rallies-global-partners-to-bolster-trade-border-security/https://www.newslocker.com/en-ng/news/nigeria-economy-news/nog-2026-to-showcase-nigerias-first-energy-infrastructure-map/Mon, 08 Jun 2026 03:00:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nog-2026-to-showcase-nigerias-first-energy-infrastructure-map/ AcrossNigeria, from the quiet academic community of Akwanga in Nasarawa State to the military training grounds of Kaduna, and from the technical education hub of Kazaure in Jigawa State to the university campus of Gadau in Bauchi State, a new chapter is unfolding in the country’s quest for educational excellence.
As part of activities marking the third anniversary of President Bola Ahmed Tinubu’s administration, a series of strategic infrastructure projects f]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/how-tetfund-is-transforming-nigerias-tertiary-education-landscape/Mon, 08 Jun 2026 02:56:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/how-tetfund-is-transforming-nigerias-tertiary-education-landscape/  
Osun  State College of Technology, Esa-Oke, has commended the Tertiary Education Trust Fund (TETFund) for its skills development intervention, describing it as a transformative initiative that has significantly enhanced academic and administrative operations in the institution.
In a letter of appreciation addressed to TETFund and signed by the Rector, Mr. Sefiu Adewumi, the college expressed gratitude for the intervention, noting that the project has been s]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/tetfund-skills-intervention-transforms-osun-college-boosts-learning-infrastructure/Mon, 08 Jun 2026 02:54:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/tetfund-skills-intervention-transforms-osun-college-boosts-learning-infrastructure/  
The DMDi of CFAO Motors Nigeria, Kunle Jaiyesimi (r), received the company’s award from Dr. Oyeyemi
Oyeyemi made the call on Thursday in Lagos at the 30th anniversary]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/oyeyemi-seeks-long-term-auto-policy-more-funding-for-road-safety/Mon, 08 Jun 2026 02:47:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/oyeyemi-seeks-long-term-auto-policy-more-funding-for-road-safety/  
Popular Chinese automotive brand, Changan, is continuing its impressive growth across Africa, recording its best-ever monthly sales performance in South Africa while also strengthening its position in the Nigerian market.
Less than a year after its return to South Africa in October 2025, Changan achieved a major milestone in May 2026 by selling 200 vehicles, its highest monthly sales figure since re-entering the market.
 
Changan CS 55 PLUS
 
The sales comprised]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/changan-records-strong-growth-in-south-africa-continues-impressive-run-in-nigeria/Mon, 08 Jun 2026 02:41:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/changan-records-strong-growth-in-south-africa-continues-impressive-run-in-nigeria/ Nigeria’s oil revenue outlook is facing fresh uncertainty following a sharp decline in drilling activity, with the country losing five active oil rigs within a month.
The slump in the country’s rig count has raised concerns over future crude production, government earnings and fiscal stability.
A report by the African Energy Council (AEC) revealed that Nigeria’s active rig count dropped from 17 in March to 12 in April 2026, representing a decline of nearly 3]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/oil-revenue-at-risk-as-nigeria-loses-5-rigs-in-1-month/Mon, 08 Jun 2026 02:38:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/oil-revenue-at-risk-as-nigeria-loses-5-rigs-in-1-month/ Despite ongoing reforms and efforts to attract fresh investments into Nigeria’s oil and gas industry, the sector accounted for only a marginal share of $10.37 billion of foreign capital channeled into the country in the first quarter of 2026.
Earlier this year, Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, disclosed that Nigeria approved 28 Field Development Plans worth $18.2 billion in 2025.
The projects were expected to unlock additional crude o]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/foreign-capital-eludes-petroleum-sector-despite-182bn-project-approvals/Mon, 08 Jun 2026 02:37:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/foreign-capital-eludes-petroleum-sector-despite-182bn-project-approvals/ Stallion Motors Limited has been named as the winner of the prestigious Motoring World Legacy Auto Investment Award.The award was presented to the auto company on Thursday, June 4, 2026, at the 30th anniversary celebration of Motoring World Communications Limited, held at the Musical Society of Nigeria (MUSON) Centre, Lagos.Executive director, Stallion Group, Dr. Harpreef Singh, who received the award on behalf of Stallion Motors, expressed the company’s appreciation for t]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/stallion-motors-bags-legacy-auto-investment-award/Mon, 08 Jun 2026 02:28:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/stallion-motors-bags-legacy-auto-investment-award/ Leading automotive publication in Nigeria, Motoring World, on June 4, 2026, honoured the managing director of New Era Autovehicle Services, Kemi Koyejo, and the Motoring Editor of The Sun Newspaper, Mr. Moses Akaigwe, at its 30th anniversary celebration held at the Musical Society of Nigeria (MUSON) Centre, Lagos.
 
Dr. Boboye Oyeyemi presenting the “Motoring World’s Auto Journalism Legacy Awards” to Moses Akaigwe while the Publisher, Femi Owoeye, looks on]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/kemi-koyejo-auto-journalist-others-receive-awards/Mon, 08 Jun 2026 02:26:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/kemi-koyejo-auto-journalist-others-receive-awards/ Chairman and CEO of Innoson Vehicle Manufacturing Company Ltd (IVM), Nnewi, Dr. Innocent Ifediaso Chukwuma, CON, has been honoured by Motoring World magazine for his invaluable contributions to the development of the country’s automotive industry.
Chief Chukwuma, who was represented at the awards ceremony, was honoured with the ‘Motoring World Automobile Industrialisation Icon Award’ on Thursday, June 4, 2026, during the magazine’s 30th anniversary celebr]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/innoson-founder-kia-nigeria-boss-honoured-in-lagos-for-contributions-to-auto-industry/Mon, 08 Jun 2026 02:24:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/innoson-founder-kia-nigeria-boss-honoured-in-lagos-for-contributions-to-auto-industry/  
It’s the rainy season! Slippery roads and blurred vision have become daily driving hazards. A well-maintained wiper blade is your first line of defence for driving safet
However, many drivers only think about it when it rains, neglecting its daily use and maintenance. Here are some practical tips for daily use and maintenance of your wiper blade, ensuring it can safeguard your driving safety at critical moments.
A wiper blade’s primary function is to clean the]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/tips-for-maintaining-windshield-wipers/Mon, 08 Jun 2026 02:22:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/tips-for-maintaining-windshield-wipers/ As part of efforts to deepen its sustainability initiatives, Sahara Group Foundation has commissioned a new Sahara Go Recycling Hub in Masaka, Nasarawa State.
The hub is a further extension to structured recycling access to communities in Northern Nigeria. Delivered in partnership with the Nasarawa State Waste Management Authority (NASWAMSA), the hub marks a significant step in scaling practical, community-driven sustainability solutions across the country.
The Sahara Go Recy]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/sahara-group-foundation-broadens-recycling-programme-to-northern-communities/Mon, 08 Jun 2026 02:13:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/sahara-group-foundation-broadens-recycling-programme-to-northern-communities/  
The Chief Executive Officer of Falcon Corporations, an indigenous gas and energy infrastructure company, Audrey Joe-Ezigbo, will be at the 25th-anniversary edition of the NOG Energy Week in Abuja to deepen talks on the future and prospects of gas.
Joe-Ezigbo will join other industry leaders on the Strategic Panel Session from July 5 to 9, 2026 to dissect the theme, “Realising Future Gas Economies – Building Secure, Integrated and Globally Competitive Hubs&r]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/falcon-ceo-to-advance-gas-growth-dialogue-at-nog-2026/Mon, 08 Jun 2026 02:11:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/falcon-ceo-to-advance-gas-growth-dialogue-at-nog-2026/ By Chinenye Anuforo
Amid growing public frustration over the rapid depletion of mobile data bundles, MTN Nigeria has sought to address one of the telecommunications sector’s most contentious issues by opening its data billing processes to public scrutiny in a first-of-its-kind initiative tagged “Data on Trial.”
The event, held in Lagos, brought together consumers, media professionals, content creators, technology experts, independent auditors and indust]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/mtn-faces-backlash-over-rapid-data-depletion/Mon, 08 Jun 2026 02:09:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/mtn-faces-backlash-over-rapid-data-depletion/ The two companies announced the renewed collaboration over the weekend, saying the initiative is designed to address one of the biggest obstacles facing businesses seeking to adopt renewable energy — access to long-term financing.
Under the renewed]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/daystar-power-sterling-bank-unveil-solar-financing-scheme/Mon, 08 Jun 2026 02:08:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/daystar-power-sterling-bank-unveil-solar-financing-scheme/ The initiative was unveiled during a townhall session in Calabar, Cross River State where business owners, financial experts and government officials gathered to discuss opportunities for enterprise growth and economic development across the state.
The Director-General and Chief Executive Officer of t]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/boi-cross-river-launch-n2bn-fund-for-msmes/Mon, 08 Jun 2026 02:07:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/boi-cross-river-launch-n2bn-fund-for-msmes/ The NLNG Shipping and Marine Services Ltd. (NSML) has said that the localisation of specialised maritime training will save Nigeria foreign exchange expenditure and reduce dependence on overseas institutions.
The Managing Director of NSML, Mr Abdul-Kadir Ahmed, stated while addressing media men in Lagos to announce that the company’s Maritime Centre of Excellence (MCOE) in Bonny, Rivers, had secured certification from the UK Nautical Institute to offer Dynamic Positioning (]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/local-maritime-training-key-to-saving-forex-nmsl/Mon, 08 Jun 2026 02:06:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/local-maritime-training-key-to-saving-forex-nmsl/ In a statement on Saturday, the commission said it had no knowledge of the alleged plan and was not part of any process said to be opening the sector to nine fintech firms.
The clarification follows widespread media reports suggesting that President Bola Tinubu ha]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fccpc-denies-airtime-market-takeover-claims/Mon, 08 Jun 2026 02:06:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fccpc-denies-airtime-market-takeover-claims/ From Bimbola Oyesola, Geneva, Switzerland 
 
The International Labour Organization (ILO) has launched a continental network of master trainers to support stronger, more inclusive work-based learning systems across Africa.
According to the global body, a new network of African master trainers will support countries in strengthening work-based learning systems that respond to labour market needs and expand pathways to decent work.
The network was launched during a five-day worksho]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ilo-launches-master-trainers-network-in-africa-to-support-skills-development/Mon, 08 Jun 2026 01:48:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ilo-launches-master-trainers-network-in-africa-to-support-skills-development/  
Bimbola Oyesola, Geneva, Switzerland                 oritokeoyee@gmail.com
 
Nigeria has called for a balanced and inclusive approach to artificial intelligence (AI), warning that, while the technology offers enormous opportunities for economic growth and innovation, it also poses significant risks to jobs, workers’ rights and social justice.
Speaking at the 114th Session of the International Labour C]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/artificial-intelligence-nigeria-makes-case-for-worker-first-policies-at-ilo-conference/Mon, 08 Jun 2026 01:48:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/artificial-intelligence-nigeria-makes-case-for-worker-first-policies-at-ilo-conference/  
From Bimbola Oyesola, Geneva, Switzerland 
 
Women in Management, Business and Public Service (WIMBIZ) is set to bring together some of the world’s most influential leaders, policymakers, entrepreneurs and changemakers in London this month as it hosts its fourth London Conference focused on building a “Meaningful Legacy” in an increasingly complex global environment.
The pan-African organisation announced that the conf]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/women-must-lead-future-conversations-not-just-shape-it-wimbiz/Mon, 08 Jun 2026 01:44:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/women-must-lead-future-conversations-not-just-shape-it-wimbiz/  
The Nigeria Social Insurance Trust Fund (NSITF) has refuted allegations of a managerial crisis and mass resignation of workers, describing the claims as false, misleading and a deliberate distortion of facts.
The Fund was reacting to reports published by an online media organization and subsequent statements by a coalition of civil society organisations alleging widespread staff exits, intimidation and administrative turmoil within the agenc]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nsitf-refutes-allegations-of-staff-exits/Mon, 08 Jun 2026 01:43:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nsitf-refutes-allegations-of-staff-exits/ In a statement at the weekend, the partners said that, under the renewed Memorandum of Understanding (MoU), Sterling Bank would provide tailored financing for commercial and industrial customers, while Daystar Power would offer new long-term Power Purchase Agreements (PP]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/daystar-power-sterling-bank-unveil-hybrid-financing-model-to-bridge-energy-access-gap-for-nigerian-businesses/Sun, 07 Jun 2026 19:35:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/daystar-power-sterling-bank-unveil-hybrid-financing-model-to-bridge-energy-access-gap-for-nigerian-businesses/ The federal government has expressed readiness to leverage the €59 million West Africa Sustainable Ocean Programme (WASOP) as part of intensified efforts to combat illegal, unreported and unregulated (IUU) fishing while strengthening sustainable management of its marine resources.
The Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, made this known in Abuja during a meeting with the European Union Ambassador to Nigeria, Ambassador Gautier Mignot, where both sides]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-targets-59m-support-to-fight-illegal-fishing-hosts-eu-envoy/Sun, 07 Jun 2026 13:26:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-targets-59m-support-to-fight-illegal-fishing-hosts-eu-envoy/ Nigeria and the European Union (EU) are set to strengthen economic relations and unlock fresh investment opportunities as preparations gather momentum for the 10th Nigeria–EU Business Forum scheduled to be held in Lagos on June 25.
The landmark event is expected to bring together senior government officials, investors, business leaders and development partners from both regions to explore avenues for expanding trade, boosting investments and fostering sustainable eco]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-eu-deepen-trade-ties-target-new-investments/Sun, 07 Jun 2026 13:19:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-eu-deepen-trade-ties-target-new-investments/  
Nigeria’s leather industry stakeholders are intensifying efforts to address persistent shortages of raw materials, hardware and financing that have constrained the sector’s growth, as the 2026 Lagos Leather Fair (LLF) set to focus on practical solutions aimed at strengthening the industry’s fragmented value chain.
Speaking at a press briefing in Lagos, Convener of the Lagos Leather Fair, Femi Olayebi, said the industry’s potential has remained l]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-leather-fair-to-address-challenges-hindering-industry-growth/Sun, 07 Jun 2026 03:39:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-leather-fair-to-address-challenges-hindering-industry-growth/ By Kehinde Aderemi
Deposit Money Banks (DMBs) are raising the limit naira cardholders can spend abroad following rising dollar liquidity in the financial system. Following financial sector reforms and $7 billion backlog clearance by the Olayemi Cardoso-led Central Bank of Nigeria (CBN), FX inflows into the economy continues to rise, closing 2025 at $112 billion. The surge in autonomous FX inflows, foreign portfolio investment and non-oil export proceeds, is enabl]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/through-cbn-banks-expand-naira-card-limit-abroad/Sun, 07 Jun 2026 02:31:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/through-cbn-banks-expand-naira-card-limit-abroad/ 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]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ibom-deep-sea-port-eno-leads-technical-session-with-project-partners-in-france/Sat, 06 Jun 2026 12:42:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ibom-deep-sea-port-eno-leads-technical-session-with-project-partners-in-france/  
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]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/mtn-opens-systems-to-public-scrutiny-as-data-on-trial-hearing-tackles-data-depletion-concerns/Sat, 06 Jun 2026 12:23:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/mtn-opens-systems-to-public-scrutiny-as-data-on-trial-hearing-tackles-data-depletion-concerns/ 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]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-reiterates-commitment-to-actualisation-of-agge-deep-sea-port/Fri, 05 Jun 2026 12:50:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-reiterates-commitment-to-actualisation-of-agge-deep-sea-port/https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-economic-recalibration-good-for-business-jumia-ceo/Fri, 05 Jun 2026 07:11:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-economic-recalibration-good-for-business-jumia-ceo/https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-unveils-new-fx-guidelines-approves-cash-movement-of-50000/Fri, 05 Jun 2026 06:57:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-unveils-new-fx-guidelines-approves-cash-movement-of-50000/ nwekemaduka88@gmail.com 
 
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]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/residents-to-lasg-scrap-solar-tax-dont-punish-us-for-escaping-darkness/Fri, 05 Jun 2026 03:36:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/residents-to-lasg-scrap-solar-tax-dont-punish-us-for-escaping-darkness/  
By Chinelo Obogo    
talktonelo@yahoo.comThe 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]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/how-airlines-are-navigating-nigerias-jet-fuel-challenge/Fri, 05 Jun 2026 03:33:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/how-airlines-are-navigating-nigerias-jet-fuel-challenge/ 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]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fgs-renewed-hope-agenda-driving-faans-transformation-agbebire-director-public-affairs/Fri, 05 Jun 2026 03:31:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fgs-renewed-hope-agenda-driving-faans-transformation-agbebire-director-public-affairs/ 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]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-to-dock-employers-protect-workers-or-face-sanctions/Fri, 05 Jun 2026 03:07:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-to-dock-employers-protect-workers-or-face-sanctions/ The appointment was formalised during a working meeting between NAICOM and EY in Abuja as part of the Commission’s ongoing efforts to transitio]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/naicom-engages-ernst-amp-young-to-drive-risk-based-capital-framework-for-insurance-industry/Fri, 05 Jun 2026 03:04:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/naicom-engages-ernst-amp-young-to-drive-risk-based-capital-framework-for-insurance-industry/ 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]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/zedvance-pledges-n500bn-sme-drive-shifts-lending-to-productive-sector/Fri, 05 Jun 2026 03:03:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/zedvance-pledges-n500bn-sme-drive-shifts-lending-to-productive-sector/ 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]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/zedcrest-pledges-n500bn-sme-drive-shifts-lending-to-productive-sector/Fri, 05 Jun 2026 03:03:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/zedcrest-pledges-n500bn-sme-drive-shifts-lending-to-productive-sector/ 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]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/sti-meets-n15bn-cbn-capital-requirement-ahead-of-deadline/Fri, 05 Jun 2026 03:01:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/sti-meets-n15bn-cbn-capital-requirement-ahead-of-deadline/ 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]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-others-strengthen-africas-energy-security-with-trans-saharan-gas-pipeline-project/Fri, 05 Jun 2026 03:00:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-others-strengthen-africas-energy-security-with-trans-saharan-gas-pipeline-project/ 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]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/wema-bank-reaffirms-support-for-women-entrepreneurs-small-businesses/Fri, 05 Jun 2026 02:59:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/wema-bank-reaffirms-support-for-women-entrepreneurs-small-businesses/ 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]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/glo-introduces-more-data-more-value-to-improve-customers-digital-lifestyle/Fri, 05 Jun 2026 02:45:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/glo-introduces-more-data-more-value-to-improve-customers-digital-lifestyle/ 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]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/dmo-sells-n146trn-treasury-bills-amid-116-oversubscription/Fri, 05 Jun 2026 02:45:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/dmo-sells-n146trn-treasury-bills-amid-116-oversubscription/ The programme, which is supported by fcmb.com, was unveiled in Abuja on Monday during a high-level gathering of governme]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fcmb-backs-land-fund-for-500000-young-agripreneurs/Fri, 05 Jun 2026 02:43:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fcmb-backs-land-fund-for-500000-young-agripreneurs/ 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]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/procurement-code-violators-risk-severe-sanctions-bpp/Fri, 05 Jun 2026 02:38:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/procurement-code-violators-risk-severe-sanctions-bpp/ 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]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/international-students-groan-as-cbn-restricts-tuition-payments-to-25000-per-semester/Fri, 05 Jun 2026 02:17:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/international-students-groan-as-cbn-restricts-tuition-payments-to-25000-per-semester/ The increase sees the refinery surpass its nameplate capacity of 650,000 bpd, underlining the facility’s engineering capability and oper]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/dangote-refinery-ramps-up-crude-proccessing-to-700000-bpd/Fri, 05 Jun 2026 02:16:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/dangote-refinery-ramps-up-crude-proccessing-to-700000-bpd/ 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]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/united-nigeria-airlines-ceo-to-deliver-abuads-14th-convocation-lecture-receive-honorary-degree/Fri, 05 Jun 2026 02:09:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/united-nigeria-airlines-ceo-to-deliver-abuads-14th-convocation-lecture-receive-honorary-degree/ The company said the directive aligns with ongoing efforts to improve the welfare, financial security]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/simpliride-backs-nhia-health-insurance-directive-for-gig-workers/Fri, 05 Jun 2026 02:08:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/simpliride-backs-nhia-health-insurance-directive-for-gig-workers/ 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]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/grimaldi-denies-selling-2500-empty-containers/Fri, 05 Jun 2026 02:06:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/grimaldi-denies-selling-2500-empty-containers/ 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]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/platform-workers-gig-economy-top-priority-for-nsitf-faleye/Thu, 04 Jun 2026 23:18:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/platform-workers-gig-economy-top-priority-for-nsitf-faleye/ 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]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/uk-rates-investments-in-nigeria-as-major-stability-concern/Thu, 04 Jun 2026 21:57:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/uk-rates-investments-in-nigeria-as-major-stability-concern/ 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]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nuprc-to-begin-2026-licensing-round-by-q3-eyesan/Thu, 04 Jun 2026 21:11:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nuprc-to-begin-2026-licensing-round-by-q3-eyesan/ 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]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-others-to-strengthen-africas-energy-security-with-trans-saharan-gas-pipeline-project/Thu, 04 Jun 2026 19:20:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-others-to-strengthen-africas-energy-security-with-trans-saharan-gas-pipeline-project/ 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.
&ldq]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/niwa-decries-overloading-of-barges-with-shipping-containers/Thu, 04 Jun 2026 18:18:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/niwa-decries-overloading-of-barges-with-shipping-containers/ 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]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/dangote-cement-plans-london-listing-as-uk-hosts-first-ever-africa-business-summit/Thu, 04 Jun 2026 15:48:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/dangote-cement-plans-london-listing-as-uk-hosts-first-ever-africa-business-summit/ The Federal Government, through the Presidential Enabling Business Environment Council (PEBEC), and the Enugu State Government have reaffirmed their commitment to accelerating business reforms and attracting investment to drive economic growth in the state.
The commitment was made during the 2026 PEBEC Nationwide Town Hall and Stakeholders’ Engagement on Ease of Doing Business held at Hotel Presidential, Enugu, on Thursday.
The event, organised by the Enugu State]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-enugu-join-forces-to-accelerate-business-reforms-attract-investment/Thu, 04 Jun 2026 13:06:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-enugu-join-forces-to-accelerate-business-reforms-attract-investment/ Abia State Governor Dr Alex Otti has warned against Nigeria’s excessive dependence on oil revenue, saying it poses long-term risks, especially as global economies continue to transition away from fossil fuels.
Governor Otti gave the warning in his office while receiving a delegation from the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), which was in the state as part of a nationwide data verification exercise aimed at reviewing and updating the]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/otti-warns-of-nigerias-excessive-dependence-on-oil-revenue/Thu, 04 Jun 2026 11:57:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/otti-warns-of-nigerias-excessive-dependence-on-oil-revenue/ Many people have criticised certain airlines for operating what they describe as “old aircraft”, with some alleging that such aeroplanes pose a threat to safety. It is common to see passengers board a flight, inspect the seats and cabin interior, and, upon noticing worn-out fittings, loose panels, faded cabin panels, or taped sections, conclude that the aircraft is unsafe. Some even record videos and post them on social media, castigating the airline and warning]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/aircraft-age-and-safety-separating-aviation-facts-from-public-perception/Thu, 04 Jun 2026 09:59:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/aircraft-age-and-safety-separating-aviation-facts-from-public-perception/ The Akwa Ibom State Government has reiterated its commitment to business reforms aimed at improving service delivery, reducing bureaucratic bottlenecks, and attracting domestic and foreign investments to position the state as the preferred destination for business and investment.
Speaking in Uyo, the Akwa Ibom State capital, during the Presidential Enabling Business Environment Council (PEBEC) workshop themed “Business Environment Enabling Reforms and Investments Compe]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/akwa-ibom-government-backs-business-reforms-at-pebec-workshop/Thu, 04 Jun 2026 08:39:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/akwa-ibom-government-backs-business-reforms-at-pebec-workshop/https://www.newslocker.com/en-ng/news/nigeria-economy-news/food-crisis-cost-of-healthy-diet-rises-further-nbs-report/Thu, 04 Jun 2026 07:46:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/food-crisis-cost-of-healthy-diet-rises-further-nbs-report/ The feature, known as “fake call detection,” is designed to combat increasingly sophisticated scams that combine caller ID spoofing with artificial intelligence-generated voice replication. According to global fraud assessments, such schemes contributed to losses exceedin]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/google-launches-fake-call-detector-as-voice-cloning-scams-hit-400bn/Thu, 04 Jun 2026 03:05:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/google-launches-fake-call-detector-as-voice-cloning-scams-hit-400bn/ Nigeria’s foreign exchange (FX) market recorded a significant improvement in liquidity in May 2026, with total FX inflows rising by 31 per cent month-on-month (m/m) to $3.7 billion, driven largely by stronger export earnings and sustained foreign portfolio investment (FPI) inflows.
According to data from FMDQ, the increase represents a notable recovery after two consecutive months of declining inflows, providing support for market liquidity and helping to ease pressure]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fx-inflows-hit-37bn-in-may/Thu, 04 Jun 2026 03:03:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fx-inflows-hit-37bn-in-may/ The Transmission Company of Nigeria (TCN) confirmed that the incident, which occurred on May 30 at about 1:15 a.m. during a heavy downpour, has disrupted electricity supply along the corridor serving parts of the North-Central and surrounding regions.
The deve]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/power-outage-worsens-as-vandals-destroy-6-tcn-transmission-towers/Thu, 04 Jun 2026 03:02:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/power-outage-worsens-as-vandals-destroy-6-tcn-transmission-towers/ The initiative, driven by the company’s Life Lager brand, is inspired by the long-established Nwa Boi or Igba Boi model widely practised in southeastern Nigeria, where young apprentices learn business directly under experienced traders and eventually establish their o]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerian-breweries-launches-life-nwa-boi-experience-to-promote-apprenticeship-entrepreneurship/Thu, 04 Jun 2026 03:02:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerian-breweries-launches-life-nwa-boi-experience-to-promote-apprenticeship-entrepreneurship/ One of Nigeria’s leading carriers, United Nigeria Airlines, on Monday, June 1, rewarded its passengers with the recently released Samsung Galaxy phones in the “Awesome Row” partnership it has with the phone company.The winners, Hamid Ibrahim, Chidi Chinedu, and Gbenga Bello, were among passengers selected through an onboard lucky dip on the Lagos–Abuja and Abuja–Lagos flights on the day.
Passengers also got exclusive in-flight access to the new Sams]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/united-nigeria-airlines-surprises-passengers-with-latest-samsung-phones/Thu, 04 Jun 2026 02:59:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/united-nigeria-airlines-surprises-passengers-with-latest-samsung-phones/ At its 34th Annual General Meeting in Lagos, CITN President, Innocent Ohagwa, said the institute is focusing on students as a critical entry point to fixing the country’s weak tax awareness and compliance levels.
He revealed that dozens of terti]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/citn-moves-to-catch-students-early-pushes-for-stronger-tax-culture/Thu, 04 Jun 2026 02:59:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/citn-moves-to-catch-students-early-pushes-for-stronger-tax-culture/ Nigeria’s participation in regional and global trade has remained below its potential due to weak linkages across production, logistics, financing and export support systems.Experts say despite being Africa’s largest economy and a signatory to the African Continental Free Trade Area (AfCF]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/weak-value-chain-linkages-undermining-nigerias-global-competitiveness-experts/Thu, 04 Jun 2026 02:56:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/weak-value-chain-linkages-undermining-nigerias-global-competitiveness-experts/ The Manufacturers Association of Nigeria (MAN) has said the economic reforms introduced by the administration of President Bola Tinubu can still deliver meaningful industrial transformation if implementation becomes more coordinated, responsive to the needs of productive sectors, and focused on addressing structural constraints affecting manufacturers.
In its assessment titled Manufacturers Assess Impact of Recent Economic Reforms on Industrial Performance, MAN acknowledged that the]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/tinubu-3-reforms-can-drive-industrial-transformation-if-well-executed-man/Thu, 04 Jun 2026 02:56:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/tinubu-3-reforms-can-drive-industrial-transformation-if-well-executed-man/ Nigeria is increasingly positioning itself as a hub of reform, growth and stability rather than a market defined by risk and uncertainty, according to Chief Executive Officer of Jumia Group, Francis Dufay.
Speaking during a panel session on emerging markets at the Sohn Conference in New York recently, Dufay said Nigeria is no longer at the margins of global investment conversations but is becoming a leading example of economic reform and resilience.
He noted that the period between]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-shifting-from-volatility-to-stability-as-reforms-drive-growth-dufay/Thu, 04 Jun 2026 02:53:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-shifting-from-volatility-to-stability-as-reforms-drive-growth-dufay/  
Ahead of the maiden Nigeria Ceramic Investment Summit and Production Exhibition (NCISPE) 2026 in Lagos, the Chief Convener and Summit Director, Prof. Patrick Oaikhinan, has said Nigeria is poised to attract multi-billion naira investments as foreign ceramic companies intensify interest in developing and revitalising the country’s ceramic industry.
Prof. Oaikhinan, an internationally renowned ceramic engineer and academic, said the summit , scheduled to hold at NECA Hous]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ceramic-summit-to-unlock-multi-billion-naira-opportunities/Thu, 04 Jun 2026 02:52:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ceramic-summit-to-unlock-multi-billion-naira-opportunities/ The Federal Road Safety Corps (FRSC) has commended Dangote Cement Transport for delivering measurable and transformative improvements in road safety, noting a significant decline in articulated truck crashes across Nigeria following the introduction of innovative transport safety policies and operational reforms.The Corps described Dangote Cement as a benchmark for transport management and road safety practices, not only in Nigeria but across Africa.
Speaking during a visit by]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/frsc-dangotes-transport-safety-policy-yielding-positive-results/Thu, 04 Jun 2026 02:50:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/frsc-dangotes-transport-safety-policy-yielding-positive-results/ The figure marks a 24 per cent increase from N31.46 trillion recorded in 2024, highlighting the continued dominance of traditional banks in mobilising customer funds despite the rapid expansion of digital financial platforms.
A Nairametrics analysis of audited financial statements and investor pre]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/banks-defy-fintech-disruption-as-retail-deposits-surge-to-n39trn/Thu, 04 Jun 2026 02:45:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/banks-defy-fintech-disruption-as-retail-deposits-surge-to-n39trn/  
The Development Bank of Nigeria Plc (DBN) is targeting to reach over two million micro, small and medium enterprises (MSMEs) in the next five years, as it ramps up lending, credit guarantees and capacity-building efforts to deepen financial inclusion and drive economic growth.
This forms part of the bank’s new medium-term strategic direction unveiled at its June 2026 media parley, where it highlighted milestones achieved since commencing operations in 2017 and outlined]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/dbn-targets-2m-msmes-expands-loan-support-after-n1trn-milestone/Thu, 04 Jun 2026 02:44:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/dbn-targets-2m-msmes-expands-loan-support-after-n1trn-milestone/  
The long-awaited Bodo–Bonny Road in Rivers State has been completed, with only minor finishing works left before full delivery, the contractor, Julius Berger Nigeria Plc, has confirmed.
Project Manager, Engr. Tim Nippert, disclosed on Monday that the 37.9-kilometre road project is now structurally complete, with workers currently focused on landscaping and installation of streetlight infrastructure. Speaking at the project office at Km Zero in Bodo, Nippert said ongoing]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/julius-berger-completes-bodo-bonny-road-final-touches-underway/Thu, 04 Jun 2026 02:43:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/julius-berger-completes-bodo-bonny-road-final-touches-underway/ The figure represents an 83.83 per cent increase compared to $5.64 billion recorded in the same period of 2025, and a 60.97 per cent jump from $6.44 billion in the preceding quarter (Q4 2025), highlighting a strong rebound in foreign inflows into the economy.
The NBS noted that portfolio investment do]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nbs-nigeria-attracted-1037bn-capital-inflows-in-q1/Thu, 04 Jun 2026 02:42:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nbs-nigeria-attracted-1037bn-capital-inflows-in-q1/ More than 40,000 livelihoods linked to Nigeria’s thriving stockfish trade could come under pressure as rising prices, declining fish stocks, and climate change continue to disrupt supply from Norway, the country’s largest source of stockfish imports.
The warning emerged during a visit by Norway’s Minister of State for Foreign Affairs, Andreas Kravik, to the Otto Ido Whitesand Stockfish Market yesterday in Lagos, one of West Africa’s largest stockfis]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/40000-jobs-at-risk-as-stockfish-trade-grapples-with-rising-costs/Wed, 03 Jun 2026 20:29:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/40000-jobs-at-risk-as-stockfish-trade-grapples-with-rising-costs/ The National Bureau of Statistics (NBS) has said that the total capital importation into Nigeria in Q1 2026 stood at US$10,371.90 million, higher than the US$5,642.07 million recorded in Q1 2025. This indicates an increase of 83.83 per cent.
In comparison with the preceding quarter, capital importation increased by 60.97 per cent from US$6,443.48 million in Q4 2025. Furthermore, portfolio investment ranked top at US$9,862.34 million, accounting for 95.09 per cent, foll]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/total-capital-importation-in-q1-2026-rises-to-1037190m-says-nbs/Wed, 03 Jun 2026 17:47:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/total-capital-importation-in-q1-2026-rises-to-1037190m-says-nbs/ The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has reaffirmed his commitment to the proposed US-Nigeria Energy Summit designed to drive energy co-operation and attract foreign investment into the oil and gas sector.
Lokpobiri stated this when he received a high-level delegation from the United States Department of Energy (DOE) to advance discussions on the proposed US-Nigeria Energy Summit aimed at deepening bilateral energy co-oper]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/lokpobiri-sets-sight-on-us-nigeria-energy-summit-drives-energy-cooperation/Wed, 03 Jun 2026 17:34:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/lokpobiri-sets-sight-on-us-nigeria-energy-summit-drives-energy-cooperation/ The Federal Competition and Consumer Protection Commission (FCCPC) has explained why it suspended the implementation and enforcement of its controversial Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations 2025 (DEON Regulations), a move that industry stakeholders say has paved the way for the restoration of airtime and data credit services across Nigeria’s telecommunications sector.
In a statement signed by Ondaje Ijagwu, Director of Corporate Aff]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/airtime-lending-why-we-suspended-deon-rules-fccpc/Wed, 03 Jun 2026 14:11:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/airtime-lending-why-we-suspended-deon-rules-fccpc/ Telecommunications giant MTN Nigeria has announced plans to host what it described as an independent public inquest aimed at examining the mechanics of mobile data consumption and addressing growing concerns among subscribers over data depletion.
The event, scheduled to hold on June 6, comes against the backdrop of increasing public scrutiny of data usage patterns among mobile subscribers and persistent complaints about the rapid exhaustion of data bundles.
According to MTN,]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/mtn-announces-public-inquest-on-mobile-data-usage-amid-growing-consumer-concerns/Wed, 03 Jun 2026 13:49:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/mtn-announces-public-inquest-on-mobile-data-usage-amid-growing-consumer-concerns/https://www.newslocker.com/en-ng/news/nigeria-economy-news/ngx-group-advocates-stronger-capital-market-integration-into-monetary-policy-framework/Wed, 03 Jun 2026 05:13:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ngx-group-advocates-stronger-capital-market-integration-into-monetary-policy-framework/https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-moves-to-accelerate-mini-grid-deployment-with-new-guidelines/Wed, 03 Jun 2026 05:06:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-moves-to-accelerate-mini-grid-deployment-with-new-guidelines/ The report, published by Fortren & Company and authored by its Chief Executive Officer, Martin Uche, shows that the sharp increase occurred between December 2025 and May 2026, affecting project delivery timelines and investment decisions across the c]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/construction-costs-jump-20-in-5-months-as-global-crisis-jolts-nigerias-building-sector/Wed, 03 Jun 2026 03:34:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/construction-costs-jump-20-in-5-months-as-global-crisis-jolts-nigerias-building-sector/ Crude oil production and regulatory oversight activities were unaffected as unions at the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) suspended their one-day strike yesterday.This ensured continuity in operations across the upstream oil sector, easing concerns over potential disruptions to output and regulatory supervision in the country’s petroleum industry.
Confirming the development, Head of Media and Corporate Communications at NUPRC, Eniola Aki]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/crude-output-oversight-duties-unaffected-as-nuprc-unions-suspend-strike/Wed, 03 Jun 2026 03:32:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/crude-output-oversight-duties-unaffected-as-nuprc-unions-suspend-strike/ At the close of trading, the market’s main index dropped by 1.13 per cent to 247,560.66 points, down from 250,385.47 recorded in the previous session. This decline pulled total market capitalisation down to N158.7 trillion from N160.50 trillion, while the year-to-date return eased to 59.09]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ngx-loses-n181trn-despite-faster-trade-settlement/Wed, 03 Jun 2026 03:31:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ngx-loses-n181trn-despite-faster-trade-settlement/ They described the policy as a case of “throwing the baby and bath water away.”
The stakeholders, led by freight forwarding practitioner, Don Tino Celestine Esezobor, argued that nearly a decade after the ban was imposed, the policy has resulted in significant job losses, revenue decline and economic hardship for operators at th]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/seme-border-stakeholders-push-for-review-of-vehicle-import-ban/Wed, 03 Jun 2026 03:29:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/seme-border-stakeholders-push-for-review-of-vehicle-import-ban/ I-Invest, a digital investment platform operated by Parthian Technology, has introduced asset-backed loans that allow investors to borrow against eligible fixed-income securities and equity holdings through its newly redesigned mobile application.
The new lending feature, unveiled during the launch of the upgraded I-Invest app in Lagos, enables investors to access financing using their existing investment portfolios as collateral without liquidating their assets.
Speaking dur]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/i-invest-introduces-asset-backed-loans-for-investors-with-new-app/Wed, 03 Jun 2026 03:24:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/i-invest-introduces-asset-backed-loans-for-investors-with-new-app/ The deadline required insurance and reinsurance companies to submit proof of their statutory deposits with the Central Bank of Nigeria, marking a key compliance step under the ongoing industry reforms. With the window now closed, the sector has crossed an important milestone in its wider push to stren]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/recapitalisation-drive-accelerates-as-naicom-deposit-deadline-elapses/Wed, 03 Jun 2026 03:17:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/recapitalisation-drive-accelerates-as-naicom-deposit-deadline-elapses/ Electric Vehicles (EV) platform, Spiro has secured a $215m investment round backed by major institutional investors including Impact Fund Denmark and Equitane.
With Spiro already operating across seven of Africa’s fastest-growing urban markets, this transaction positions it among the continent’s leading clean infrastructure platforms. This investment will accelerate the expansion of Spiro’s battery-swapping network, industrial footprint and next-generation EV i]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ev-platform-spiro-secures-215m-funding-to-scale-energy-infrastructure/Wed, 03 Jun 2026 03:16:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ev-platform-spiro-secures-215m-funding-to-scale-energy-infrastructure/ As Artificial Intelligence takes the centre stage in global productivity, the International Labour Organisation (ILO) has warned that global hours worked could fall by the equivalent of 14 million full-time jobs this year and 38 million next year.
This is even as it added that Labour income losses could reach up to US$3 trillion by 2027.
The ILO Director-General, Gilbert F. Houngbo addressing the ongoing 114th International Labour Conference (ILC), expressed that “The fu]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ai-to-hit-52m-jobs-cut-3trn-income-by-2027-ilo/Wed, 03 Jun 2026 03:13:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ai-to-hit-52m-jobs-cut-3trn-income-by-2027-ilo/ Oguoma, who spoke in Owerri after returning from official trips abroad, praised the President’s leadership direction, particularly the appointment of Joseph Olasunkanmi Tegbe as Minister for Power. He said the choice signals a more delib]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/expert-backs-tinubus-power-reforms-offers-tech-fix-to-end-blackouts/Wed, 03 Jun 2026 03:12:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/expert-backs-tinubus-power-reforms-offers-tech-fix-to-end-blackouts/ From Adanna Nnamani, Abuja and Henry Uche
With flooding now a near-annual crisis across Nigeria, the federal government’s proposed National Flood Insurance Policy (NFIP) is drawing mixed reactions from experts who are questioning its structure, funding model and long-term sustainability.
From the North to the coastal South, flood disasters have become a recurring national emergency, wiping out homes, farmland and infrastructure]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-flood-insurance-plan-triggers-industry-debate-over-capacity-coverage/Wed, 03 Jun 2026 03:07:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-flood-insurance-plan-triggers-industry-debate-over-capacity-coverage/https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-spends-234bn-on-food-imports-in-2025-down-74/Tue, 02 Jun 2026 07:49:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-spends-234bn-on-food-imports-in-2025-down-74/https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-liberia-move-to-deepen-maritime-cooperation-capacity-building/Tue, 02 Jun 2026 07:44:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-liberia-move-to-deepen-maritime-cooperation-capacity-building/https://www.newslocker.com/en-ng/news/nigeria-economy-news/cardoso-re-assigns-deputy-govs-ikeazor-now-in-charge-of-policy/Tue, 02 Jun 2026 06:01:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cardoso-re-assigns-deputy-govs-ikeazor-now-in-charge-of-policy/https://www.newslocker.com/en-ng/news/nigeria-economy-news/stock-market-dips-113-as-investors-lose-n181trn/Mon, 01 Jun 2026 23:57:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/stock-market-dips-113-as-investors-lose-n181trn/https://www.newslocker.com/en-ng/news/nigeria-economy-news/nsib-probes-bonny-anchorage-vessel-collision/Mon, 01 Jun 2026 10:02:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nsib-probes-bonny-anchorage-vessel-collision/https://www.newslocker.com/en-ng/news/nigeria-economy-news/over-100-imported-vegetable-oil-brands-dominating-local-market-despite-ban-ikoro/Mon, 01 Jun 2026 09:56:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/over-100-imported-vegetable-oil-brands-dominating-local-market-despite-ban-ikoro/https://www.newslocker.com/en-ng/news/nigeria-economy-news/frsc-commends-dangote-cement-on-new-transport-safety-policy/Mon, 01 Jun 2026 09:42:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/frsc-commends-dangote-cement-on-new-transport-safety-policy/https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-extends-pos-geo-fencing-deadline-to-july-31/Mon, 01 Jun 2026 09:35:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-extends-pos-geo-fencing-deadline-to-july-31/https://www.newslocker.com/en-ng/news/nigeria-economy-news/stock-market-sustains-bullish-run-recovers-from-previous-weeks-losses/Mon, 01 Jun 2026 09:30:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/stock-market-sustains-bullish-run-recovers-from-previous-weeks-losses/https://www.newslocker.com/en-ng/news/nigeria-economy-news/education-medical-tourism-drive-foreign-travel-spending-to-6bn/Mon, 01 Jun 2026 05:36:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/education-medical-tourism-drive-foreign-travel-spending-to-6bn/ An official of the refinery confirmed the price adjustment, attributing it to the sustained dr]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/dangote-refinery-reduces-petrol-price-to-n1250litre/Sat, 30 May 2026 14:51:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/dangote-refinery-reduces-petrol-price-to-n1250litre/https://www.newslocker.com/en-ng/news/nigeria-economy-news/india-turns-to-nigeria-other-african-countries-for-soybeans/Fri, 29 May 2026 09:43:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/india-turns-to-nigeria-other-african-countries-for-soybeans/https://www.newslocker.com/en-ng/news/nigeria-economy-news/weak-manufacturing-base-threatens-nigerias-economy-cppe/Fri, 29 May 2026 09:30:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/weak-manufacturing-base-threatens-nigerias-economy-cppe/https://www.newslocker.com/en-ng/news/nigeria-economy-news/afdb-appoints-keyamo-to-lead-7bn-africas-aviation-transformation/Fri, 29 May 2026 08:49:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/afdb-appoints-keyamo-to-lead-7bn-africas-aviation-transformation/https://www.newslocker.com/en-ng/news/nigeria-economy-news/oil-revenue-falls-n788trn-below-budget-target-in-q325/Fri, 29 May 2026 08:17:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/oil-revenue-falls-n788trn-below-budget-target-in-q325/https://www.newslocker.com/en-ng/news/nigeria-economy-news/more-woes-for-electricity-consumers-as-power-generation-dips/Fri, 29 May 2026 08:11:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/more-woes-for-electricity-consumers-as-power-generation-dips/ Determined to ensure strict compliance to safety standard rules along Delta waterways, the National Inland Waterways Authority (NIWA), Warri area office, has issued a new operational directives that will compel both private and commercial boat operators to make wearing of Life Jackets mandatory for passengers.
The NIWA management team handed down the new Life Jackets mandatory order at a one day Sensitization/ Enlightenment Campaign On Waterways Transportation Regulat]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/waterways-safety-niwa-strengthens-life-jacket-enforcement-in-delta/Sun, 24 May 2026 04:21:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/waterways-safety-niwa-strengthens-life-jacket-enforcement-in-delta/  
Nigeria is on the verge of reversing the huge sum of $850 million spent by local enterprises on foreign cloud infrastructure, which constitutes their most expensive annual capital outflow.
That was the dominant business message when Kasi Cloud Hyperscale AI-Ready Data Centre LOS1 was officially commissioned in Lekki, marking what industry leaders described as a strategic move toward sovereign digital infrastructure and a major boost for Nigeria’s emerging artific]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/kasi-cloud-to-save-nigeria-850m-with-new-ai-data-centre/Sun, 24 May 2026 04:00:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/kasi-cloud-to-save-nigeria-850m-with-new-ai-data-centre/  
Premium Pension Limited, one of Nigeria’s leading Pension Fund Administrators (PFAs), says its retirement savings account (RSA) holders increased by 32,698 new subscribers, bringing a total RSA holders to 850,797 as at December 2025.
The PFA during its Annual General Meeting (AGM) held recently in Abuja also declared a dividend of ₦2.96 per share, in addition to an interim dividend of ₦3.23, marking 18 consecutive years of payouts.
The AGM was attend]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/premium-pension-more-than-850000-register-with-pfa/Sun, 24 May 2026 03:54:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/premium-pension-more-than-850000-register-with-pfa/ The Federal Government, through the National Agricultural Development Fund (NADF), in partnership with the Farm Input Support Services (FISS) Nigeria has introduced the first harmonised fertiliser recommendation manual in more than a decade, to improve crop yields, soil health and fertiliser-use efficiency across the country.
  
NADF Executive Secretary, Mohammed Ibrahim who presented the harmonised fertiliser recommendations for Nigeria – 2026 Edition to the]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-ushers-in-harmonised-fertiliser-manual-to-boost-yields-soil-health/Sun, 24 May 2026 03:49:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-ushers-in-harmonised-fertiliser-manual-to-boost-yields-soil-health/ Africa will require an estimated $2.8 trillion between 2020 and 2030 to effectively tackle climate change and meet its commitments under the Paris Agreement.
A policy analysis recently released by a consulting firm, Harrison Rehoboth Consulting, revealed this.
The report stated that the continent needs about $277 billion annually to fund climate adaptation and mitigation projects aimed at reducing the devastating impact of floods, droughts, desertification and o]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/africa-needs-28tn-for-climate-fight-report/Sat, 23 May 2026 18:31:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/africa-needs-28tn-for-climate-fight-report/ By Henry Uche
National Insurance Commission (NAICOM) has reaffirmed its commitment to building a stronger, more resilient and policyholder-centric insurance ecosystem, aimed at boosting public confidence, enhancing consumer protection and deepening insurance penetration across the country.
NAICOM made this commitment yesterday during its 21st Insurers Committee Meeting in Lagos, advancing risk-sharing and financial sector collaboration.
‎The Commissioner for I]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/naicom-vows-robust-policyholder-first-insurance-ecosystem/Sat, 23 May 2026 10:24:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/naicom-vows-robust-policyholder-first-insurance-ecosystem/ As global energy and food prices surge as a result of the ongoing Middle East crisis and other global hiccups, economists at the International Monetary Fund, have urged leaders to protect vulnerable households through smart and targeted interventions.
In a new policy note released May 20, leading economists including Pierre-Olivier Gourinchas and Rodrigo Valdés of IMF, outlined how countries can respond more effectively to the ongoing price shock, warning that poorly de]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/energy-food-crisis-shield-the-poor-dont-freeze-prices-imf-charges-global-leaders/Sat, 23 May 2026 03:03:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/energy-food-crisis-shield-the-poor-dont-freeze-prices-imf-charges-global-leaders/ Speaking at the summit, which serves as a premier platform that unites policymakers, business leaders, financial institutions and trade enablers to accelerate the implementation of the African Continental Free Trade Area (AfCFTA), Dr Oduwole, who is also the incoming Chair of the AfCFTA Council of Minister]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/afcfta-implementation-minister-tasks-nigerian-entrepreneurs-on-leadership/Sat, 23 May 2026 01:47:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/afcfta-implementation-minister-tasks-nigerian-entrepreneurs-on-leadership/https://www.newslocker.com/en-ng/news/nigeria-economy-news/court-grants-cbn-sole-ownership-of-enaira-platform/Fri, 22 May 2026 17:03:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/court-grants-cbn-sole-ownership-of-enaira-platform/ The Lagos State Government has announced that it generated total revenue of ₦2.6 trillion in 2025, with Internally Generated Revenue (IGR) rising to ₦1.87 trillion, as the state deepened reforms in tax administration, debt management and digital revenue collection.
The state’s Commissioner for Finance, Abayomi Oluyomi, disclosed this during the ministerial press briefing marking the seventh year of Governor Babajide Sanwo-Olu’s administration at the Baga]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-rakes-in-26trn-revenue-hits-187trn-igr-in-one-year/Fri, 22 May 2026 15:09:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-rakes-in-26trn-revenue-hits-187trn-igr-in-one-year/ Nigeria LNG Limited (NLNG) has described its Train 7 project as a major catalyst for Nigerian Content development and industrial growth, citing significant local participation and capacity-building achievements on the multibillion-dollar gas expansion project.
Managing Director and Chief Executive Officer of NLNG, Adeleye Falade, made the remarks during a panel session on Nigerian Content support, lessons, experiences and success stories at the Nigerian Oil and Gas Midstream and]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/train-7-creates-industrial-momentum-for-nigerian-firms/Fri, 22 May 2026 08:39:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/train-7-creates-industrial-momentum-for-nigerian-firms/https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-trade-surplus-rises-220-to-480m/Fri, 22 May 2026 08:39:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-trade-surplus-rises-220-to-480m/https://www.newslocker.com/en-ng/news/nigeria-economy-news/over-41-of-electricity-consumers-still-without-meters-nerc/Fri, 22 May 2026 08:21:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/over-41-of-electricity-consumers-still-without-meters-nerc/ The decision, reached at the MPC’s 305th meeting held on May 19–20, 2026, reflects a careful]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/305th-mpc-why-cbn-chose-rate-stability-despite-global-volatility/Fri, 22 May 2026 02:22:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/305th-mpc-why-cbn-chose-rate-stability-despite-global-volatility/ talktonelo@yahoo.comThe International Air Transport Association (IATA) has taken a hard look at the aviation industries in Africa and Europe and called on governments across both regions to urgently implement far-reaching reforms to prevent further deterioration of the sector and economic collapse.
While the challenges differ across the two continents, IATA warned that the outcome of continued policy missteps remains the same, being a steadily weakened aviatio]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/iata-to-africa-europe-reform-aviation-policies-or-risk-economic-failure/Fri, 22 May 2026 02:20:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/iata-to-africa-europe-reform-aviation-policies-or-risk-economic-failure/ The Minister of Aviation and Aerospace Development, Festus Keyamo, has reiterated Nigeria’s commitment to strengthening aviation financing, regulatory reforms and compliance with the Cape Town Convention (CTC) while addressing global stakeholders at the Aviation Working Group (AWG) General Meeting in London.
Speaking before an audience of financiers, aircraft lessors, legal experts and aviation stakeholders in London, the Minister described Nigeria’s recent aviation]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/keyamo-woos-global-financiers-stakeholders-says-nigeria-open-for-aviation-business/Fri, 22 May 2026 02:18:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/keyamo-woos-global-financiers-stakeholders-says-nigeria-open-for-aviation-business/  
The Federal Airports Authority of Nigeria (FAAN) has said that it has put measures in place to tackle the Ebola virus spreading across some African countries.
FAAN’s Director, Public Affairs and Consumer Protection, Henry Agbebire, the Authority said it is working in close collaboration with Port Health Services, the Nigeria Centre for Disease Control and Prevention (NCDC), and other relevant agencies and that it has intensified surveillance and monitoring of passe]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ebola-containment-measures-now-active-across-all-airports-faan/Fri, 22 May 2026 02:15:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ebola-containment-measures-now-active-across-all-airports-faan/ From Isaac Anumihe, AbujaThe long-dormant 450-megawatt Alaoji Open Cycle Power Plant in Abia State, which was shut down in 2023 following gas supply disruptions and metering disputes, has been restored and returned to operational status.
This was disclosed in Umuahia by the Managing Director and Chief Executive Officer of the Niger Delta Power Holding Company (NDPHC), Jennifer Adighije, during a meeting with Abia State Governor, Alex Otti.She explained that]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/alaoji-power-plant-revived-after-2-year-shutdown/Fri, 22 May 2026 02:14:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/alaoji-power-plant-revived-after-2-year-shutdown/ Central Bank of Nigeria (CBN) has said that deposit money banks (DMBs) yet to meet the ongoing recapitalisation requirements will continue operations while they work through legal and regulatory challenges that have slowed their compliance process.
CBN Governor, Olayemi Cardoso, disclosed this after the latest Monetary Policy Committee (MPC) meeting, noting that the banking sector recapitalisation exercise has so far been largely successful and reflects strong investor confi]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-gives-banks-more-time-as-legal-hurdles-stall-recapitalisation/Fri, 22 May 2026 02:12:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-gives-banks-more-time-as-legal-hurdles-stall-recapitalisation/ A document published by the Nigerian Electricity Regulatory Commission (NERC) on Thursday, disclosed that while a total of 119,792 customers were metered in January 2026, a total of 121,798 were metered in February 2026, indicating a metering rate of 57.93 per cent and 58.57 per cent respectively.
Cumulatively, NERC reve]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/discos-meter-241590-customers-in-2-months-nerc/Fri, 22 May 2026 02:10:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/discos-meter-241590-customers-in-2-months-nerc/ Speaking at an investors’ engagement forum in Abuja recently, Odenigwe said stakeholders reviewed infrastructure progress, investment prospects, and expansion plans for the smart city project.
“Centenary City is designed to create value, encourage internation]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/centenary-city-targets-global-investment-records-47-infrastructure-progress/Fri, 22 May 2026 02:09:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/centenary-city-targets-global-investment-records-47-infrastructure-progress/ From Tony John, Port HarcourtNigeria has recorded zero piracy incidents in the past four years, the federal government has announced, attributing the milestone to strengthened maritime surveillance and coordinated security efforts across its waters.To sustain the gains and deepen safety on the nation’s waterways, the government has deployed 492 new maritime security officers from different operational units.
The Minister of Marine and Blue]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-recorded-zero-piracy-incidents-in-4-years-fg/Fri, 22 May 2026 02:06:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-recorded-zero-piracy-incidents-in-4-years-fg/ Auction results released on Wednesday showed that total subscriptions surged to about N1.99 trillion, significantly outstripping the N650 billion offered across the 91-day, 182-day, and 364-day maturities. The]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-sells-n829bn-in-treasury-bills-as-investors-rush-1-year-savings-option/Fri, 22 May 2026 01:45:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-sells-n829bn-in-treasury-bills-as-investors-rush-1-year-savings-option/ The Nigeria Deposit Insurance Corporation (NDIC) has restated its commitment to talent development and stronger collaboration between academia and industry through its Executive Industry Immersion Challenge (EIIC) programme, held in partnership with the Nile Business School, Nile University of Nigeria, Abuja.
Speaking at the opening ceremony of the four-day programme at the NDIC Head Office in Abuja, the Managing Director/Chief Executive, Mr. Thompson Oludare Sunday, d]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ndic-nile-university-boost-industry-academia-ties-with-immersion-programme/Fri, 22 May 2026 01:43:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ndic-nile-university-boost-industry-academia-ties-with-immersion-programme/ Malaysia has launched the 22nd edition of the Malaysia International Halal Showcase (MIHAS 2026), as it focuses on Nigerian and West African businesses as emerging players in the global halal economy.
The soft launch, held on April 28 in Kuala Lumpur, introduced the event’s theme; “Shaping Trust, Driving Resilience”, a nod to growing demand for a reliable trade ecosystems as supply chains continue to fragment under economic and geopolitical pressures.Scheduled]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/mihas-2026-best-platform-for-nigerian-businesses-to-gain-global-visibility-envoy/Fri, 22 May 2026 01:43:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/mihas-2026-best-platform-for-nigerian-businesses-to-gain-global-visibility-envoy/ Guinness Nigeria has reiterated its commitment to sustainable growth, operational efficiency, and corporate transparency.The company highlighted its business performance, governance structure, and long-term strategic direction, during a media briefing where it pointed to key milestones since the start of its strategic reset initiative, including stronger profitability, improved shareholder returns, and a more resilient balance sheet.The company also reported net sales of N730.8 bill]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/guinness-reinforces-growth-efficiency-agenda/Fri, 22 May 2026 01:39:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/guinness-reinforces-growth-efficiency-agenda/ The long disputed 450 megawatts Alaoji Open Cycle Power Plant shut down since 2023 in Abia State over gas supply and metering crises, has been restored.
Managing Director and Chief Executive Officer (MD/CEO) of Niger Delta Power Holding Company (NDPHC), Engineer Jennifer Adighije, disclosed this in Umuahia, during a meeting with the Governor of Abia State, Alex Otti.
She explained that the plant was shut down after disparities emerged between metering and trading points,]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/finally-long-disputed-abandoned-alaoji-plant-revived-reopened/Thu, 21 May 2026 17:25:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/finally-long-disputed-abandoned-alaoji-plant-revived-reopened/ Over 241,590 electricity customers have been metered by the Electricity Distribution Company (DisCos) between January and February 2026.
A document published by the Nigerian Electricity Regulatory Commission (NERC), today, disclosed that while a total of 119,792 customers were metered in January 2026, a total of 121,798 were metered in February 2026, indicating a metering rate of 57.93 per cent and 58.57 per cent respectively.
Cumulatively, NERC revealed that the total]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/discos-metered-over-241590-customers-in-two-months-says-nerc/Thu, 21 May 2026 16:55:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/discos-metered-over-241590-customers-in-two-months-says-nerc/https://www.newslocker.com/en-ng/news/nigeria-economy-news/pension-scheme-plagued-by-gender-disparity/Thu, 21 May 2026 09:50:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/pension-scheme-plagued-by-gender-disparity/https://www.newslocker.com/en-ng/news/nigeria-economy-news/sifax-chairman-urges-african-firms-to-build-global-scale-corporations/Thu, 21 May 2026 08:08:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/sifax-chairman-urges-african-firms-to-build-global-scale-corporations/https://www.newslocker.com/en-ng/news/nigeria-economy-news/inter-agency-collaboration-imperative-for-sustained-maritime-security-nimasa-boss/Thu, 21 May 2026 08:03:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/inter-agency-collaboration-imperative-for-sustained-maritime-security-nimasa-boss/https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-retains-rate-at-265-says-no-fx-market-intervention/Thu, 21 May 2026 07:58:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-retains-rate-at-265-says-no-fx-market-intervention/  
By Chinwendu Obienyi
The Central Bank of Nigeria (CBN) has dismissed suggestions that it is heavily intervening in the foreign exchange (FX) market to support the naira, insisting that its participation has remained minimal relative to overall market activity.
Governor, Olayemi Cardoso, while responding to questions fielded by newsmen after the Monetary Policy Committee (MPC) meeting]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/were-not-propping-up-naira-cbn/Thu, 21 May 2026 06:40:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/were-not-propping-up-naira-cbn/ The National Health Insurance Authority (NHIA) has directed all food delivery, app-based transport and logistics platforms operating in Nigeria to ensure that independent contractors and self-employed persons working on their platforms have access to health insurance coverage. The directive, issued in line with the September 2025 presidential mandate on compulsory health insurance, is aimed at enforcing compliance with the provisions of the NHIA Act 2022, which makes h]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nhia-orders-health-insurance-for-gig-workers/Thu, 21 May 2026 06:39:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nhia-orders-health-insurance-for-gig-workers/ The company also said it is targeting 500,000 barrels of oil per day in joint venture production while working towards tripling its attributable production over the medium term.Chairman of the company, Udoma Udo Udoma, disclosed this during a]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/seplat-projects-1bn-shareholder-dividend-payout-over-five-years/Thu, 21 May 2026 06:38:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/seplat-projects-1bn-shareholder-dividend-payout-over-five-years/ The pullback trimmed the index’s year-to-date return to 60.05per cent, though the market remains one of the strongest-performing exchanges globally on that metric.
Selling pressure was concentrated in the industrial sector, where the NGX Industrial Index fell 3.84 p]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ngx-sheds-102-wipes-n162trn-from-market-cap-in-midweek-sell-off/Thu, 21 May 2026 06:37:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ngx-sheds-102-wipes-n162trn-from-market-cap-in-midweek-sell-off/  
By Chinenye Anuforo
The Presidency has begun an ambitious overhaul of Nigeria’s telecommunications policy for the first time in 26 years, signalling a major reset of the country’s digital economy strategy aimed at unlocking an estimated N1.6 trillion in additional tax revenue and nearly two million jobs.
The proposed review of the National Telecommunications Policy 2000 took centre stage at a high-level policy workshop organised by the Nigeri]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/presidency-moves-to-rewrite-26-year-telecom-policy/Thu, 21 May 2026 06:14:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/presidency-moves-to-rewrite-26-year-telecom-policy/ The federal government has approved certification and compliance processes for five proposed deep seaport projects to reclaim the over 70 per cent of Nigerian-bound cargo transported to other Africa nations.
The Managing Director of the Nigerian Ports Authority, Dr. Abubakar Dantsoho, listed the approved projects to include the Badagry Deep Sea Port in Lagos State, Olokola Deep Sea Port in Ondo State, Ibom Deep Sea Port in Akwa Ibom State, Bakassi Deep Sea Port in Cross River Sta]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-approves-5-deep-seaports-upgrade-to-recapture-70-cargo-traffic-dantsoho/Thu, 21 May 2026 06:12:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-approves-5-deep-seaports-upgrade-to-recapture-70-cargo-traffic-dantsoho/ The 113-year-old philanthropic body said it awarded over $350 million, leveraged more than $3 billion in additional f]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/rockefeller-foundation-invests-350m-in-tech-reaches-731m-people/Thu, 21 May 2026 06:11:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/rockefeller-foundation-invests-350m-in-tech-reaches-731m-people/ In line with this, a delegation from ONSA paid a courtesy visit on Thursday to the Chairman of NERC, Musiliu Oseni, in Abuja, to explore coordinated strategies to halt the widespread destruction of power assets across]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-raises-alarm-over-spiking-power-infrastructure-vandalism-engages-onsa/Thu, 21 May 2026 06:10:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-raises-alarm-over-spiking-power-infrastructure-vandalism-engages-onsa/ Speaking at the bank’s Annual General Meeting in Lagos, Oseni said management and staff are working deliberately to “position” Wema among the country’s biggest banks, backed by a strong profitability traje]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/wema-bank-targets-tier-1-status-posts-n2218bn-profit/Thu, 21 May 2026 06:08:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/wema-bank-targets-tier-1-status-posts-n2218bn-profit/ The organisers said the annual expo would bring together entrepreneurs, investors, policymakers, technology professionals and creatives from across the Niger Del]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/technexus-nddc-entrepreneurs-policymakers-for-port-harcourt-tech-expo-2026/Thu, 21 May 2026 06:07:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/technexus-nddc-entrepreneurs-policymakers-for-port-harcourt-tech-expo-2026/ Corporate Accountability and Public Participation Africa has premiered a hard-hitting documentary, Sweet Poison, spotlighting the growing consumption of sugar-sweetened beverages (SSBs) in Nigeria and its links to rising non-communicable diseases (NCDs) and environmental damage.
The 20-minute film, unveiled at a media screening in Lagos, examines how ultra-processed food and beverage companies have embedded sugary drinks into everyday life through aggressive marketing and de]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/cappa-film-sweet-poison-links-sugary-drinks-to-rising-heath-crisis/Thu, 21 May 2026 03:56:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cappa-film-sweet-poison-links-sugary-drinks-to-rising-heath-crisis/ The Centre for the Promotion of Private Enterprise has endorsed the decision of the Central Bank of Nigeria to retain key monetary policy parameters at its 305th Monetary Policy Committee (MPC) meeting, describing the move as a measured response to prevailing economic realities.
At the meeting, the MPC held the Monetary Policy Rate (MPR) at 26.5 percent, retained the asymmetric corridor around the rate, and maintained the Cash Reserve Ratio (CRR) at 15 percent for merchant banks, 45]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/cppe-backs-cbn-rate-hold-cites-structural-drivers-behind-inflation/Thu, 21 May 2026 03:54:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cppe-backs-cbn-rate-hold-cites-structural-drivers-behind-inflation/ The federal government has approved certification and compliance processes for five proposed deep seaport projects to reposition Nigeria to reclaim over 70 per cent of Nigerian-bound cargo transported to other African nations.
The Managing Director of the Nigerian Ports Authority, Dr Abubakar Dantsoho, listed the approved projects to include the Badagry Deep Sea Port in Lagos State, Olokola Deep Sea Port in Ondo State, Ibom Deep Sea Port in Akwa Ibom State, Bakassi Deep Sea Port]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-clears-five-deep-seaports-for-investment-to-recapture-70-cargo-traffic-dantsoho/Wed, 20 May 2026 21:15:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-clears-five-deep-seaports-for-investment-to-recapture-70-cargo-traffic-dantsoho/ Policymakers, financiers and hospitality executives gathered in Lagos to argue that culture, one of the continent’s most valuable economic assets, has long been overlooked.
The debate unfolded at the Africa Legacy Summit, convened to commemorate the 50th anniversary of Eko Hotels and Suites, with the theme: ‘Reimagining the Future of Culture in African Hospitality, Tourism and Travel.’
Among the dignitaries present were the Governor of Lagos State, Babajide Sanw]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/eko-hotels-celebrates-five-decades-of-redefining-innovation-in-hospitality/Wed, 20 May 2026 20:51:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/eko-hotels-celebrates-five-decades-of-redefining-innovation-in-hospitality/https://www.newslocker.com/en-ng/news/nigeria-economy-news/dangoteactivates-olokola-seaport-plan-in-ogun/Wed, 20 May 2026 09:38:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/dangoteactivates-olokola-seaport-plan-in-ogun/https://www.newslocker.com/en-ng/news/nigeria-economy-news/capital-market-t1-settlement-cycle-takes-off-june-1-sec/Wed, 20 May 2026 08:34:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/capital-market-t1-settlement-cycle-takes-off-june-1-sec/https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-oil-exploration-declines-417-as-rig-count-falls-opec/Wed, 20 May 2026 08:19:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-oil-exploration-declines-417-as-rig-count-falls-opec/ By Chinwendu Obienyi
Despite demand of N516.15 billion, the Debt Management Office (DMO) allotted N334.53 billion at the Federal Government of Nigeria (FGN) bond auction held on Monday, rejecting part of investor bids, market data revealed on Tuesday.
The auction, which featured the reopening of the JAN-2035 and APR-2037 FGN bonds, had an offer size of N600 billion. However, total subscriptions fell short of the amount on offer, resulting in a bid-to-offer]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fgn-bonds-undersubscribed-despite-n516bn-demand/Wed, 20 May 2026 02:25:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fgn-bonds-undersubscribed-despite-n516bn-demand/ The initiative has significantly reduced piracy and restored confidence in Nigeria’s maritime domain, marking one of the most visible security gains in recent years.
Bef]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-boosts-maritime-security-capacity-with-177-new-graduates/Wed, 20 May 2026 02:23:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-boosts-maritime-security-capacity-with-177-new-graduates/ According to the Executive Director, Finance & Strategies, Mr. Chris Ogbaisi, the recently upgraded 5-tonne-per-hour animal feed mill has commenced operations and is projected to generate over N540 million in monthly turnover.
This development, he says,]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/firm-targets-n540m-monthly-revenue-as-animal-feed-output-hits-5tph/Wed, 20 May 2026 02:22:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/firm-targets-n540m-monthly-revenue-as-animal-feed-output-hits-5tph/ The initiative is inspired by the widely practiced Igbo Igba-Boi system, an informal but structured business apprenticeship model that has for decades served as a pathway for young people to learn trade, discipline, and financial management under established business owners, commonly known as]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/life-beer-leverages-seast-apprenticeship-culture-for-youth-entrepreneurship-drive/Wed, 20 May 2026 02:20:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/life-beer-leverages-seast-apprenticeship-culture-for-youth-entrepreneurship-drive/ The Multilateral Investment Guarantee Agency (MIGA) is ramping up efforts to unlock private capital for Africa, with plans to more than double its annual guarantee issuance on the continent to $6.4 billion over the next three and a half years.
The move, reported by Reuters on Tuesday, is expected to catalyse as much as $23 billion in private sector investment across key sectors including energy infrastructure, food security, trade finance, digital connectivity and sovereign debt res]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/world-bank-targets-23bn-private-funding-for-africa-through-stronger-guarantees/Wed, 20 May 2026 02:17:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/world-bank-targets-23bn-private-funding-for-africa-through-stronger-guarantees/ The Olokola project is an important aspect of the President/CE of the Dangote Group, Aliko Dangote’s plan to strengthen Africa’s maritime trade capa]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/dangote-sensitises-host-community-ahead-of-olokola-deep-seaport-take-off/Wed, 20 May 2026 02:16:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/dangote-sensitises-host-community-ahead-of-olokola-deep-seaport-take-off/https://www.newslocker.com/en-ng/news/nigeria-economy-news/2-arrested-for-vandalising-tcn-towers/Wed, 20 May 2026 02:13:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/2-arrested-for-vandalising-tcn-towers/ An indigenous travel company, Kiakiago Travels, has pledged to reposition Nigeria’s travel and logistics experience, promising relief for Nigerian travellers who it says have long suffered inefficiencies and poor service from foreign handlers in the aviation and travel ecosystem.
The company said the time had come for Nigerian-owned operators to take a stronger lead in global travel facilitation, arguing that citizens deserve smoother, more reliable, and culturally att]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/firm-vows-to-end-nigerian-travellers-woes/Wed, 20 May 2026 02:12:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/firm-vows-to-end-nigerian-travellers-woes/ The Nigerian Content Development and Monitoring Board (NCDMB) has intensified calls for greater indigenous participation and value retention in Nigeria’s oil and gas industry.
Director of Monitoring and Evaluation at NCDMB, Mr. Esueme Dan Kikile, stated this at the opening of the 2026 Nigerian Oil & Gas Midstream & Downstream Summit in Lagos, yesterday with the theme:Unlocking, Growing & Sustaining Nigerian Content Development in Nigeria’s Oil & Ga]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ncdmb-seeks-stronger-indigenous-control-of-nigerias-oil-gas-value-chain/Wed, 20 May 2026 02:09:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ncdmb-seeks-stronger-indigenous-control-of-nigerias-oil-gas-value-chain/ Two instruments w]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fgn-bonds-record-32-oversubscription-in-may-auction/Tue, 19 May 2026 17:00:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fgn-bonds-record-32-oversubscription-in-may-auction/https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-unveils-plans-to-revive-textile-sector-targets-15m-jobs/Tue, 19 May 2026 08:08:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-unveils-plans-to-revive-textile-sector-targets-15m-jobs/https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-opens-new-veterinary-centres-to-expand-livestock-healthcare/Tue, 19 May 2026 07:54:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-opens-new-veterinary-centres-to-expand-livestock-healthcare/https://www.newslocker.com/en-ng/news/nigeria-economy-news/naicom-charges-insurers-to-adopt-customer-centric-business-model/Tue, 19 May 2026 07:50:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/naicom-charges-insurers-to-adopt-customer-centric-business-model/https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-others-commit-27bn-to-port-infrastructure-expansion-pmawca/Tue, 19 May 2026 07:37:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-others-commit-27bn-to-port-infrastructure-expansion-pmawca/https://www.newslocker.com/en-ng/news/nigeria-economy-news/sugar-industry-key-to-addressing-unemployment-insecurity-nsdc-boss/Tue, 19 May 2026 07:33:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/sugar-industry-key-to-addressing-unemployment-insecurity-nsdc-boss/https://www.newslocker.com/en-ng/news/nigeria-economy-news/diaspora-remittances-stabilises-at-218bn-in-2025-amid-global-pressures/Tue, 19 May 2026 07:27:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/diaspora-remittances-stabilises-at-218bn-in-2025-amid-global-pressures/ His remarks add to the growing warnings of experts who noted that the country’s financing structure is fundamentally misaligned with its real economy needs.
Oye described the situation as a deep structural failure in Nigeria’s cap]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/n130trn-credit-gap-choking-39m-msmes-threatening-growth-oye/Tue, 19 May 2026 04:55:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/n130trn-credit-gap-choking-39m-msmes-threatening-growth-oye/ The Federal Government has launched new digital platforms that will allow Nigerians resolve tax-related disputes free of charge as part of efforts to improve fairness, transparency and accountability in tax administration.
The platforms, unveiled on Monday in Abuja, include the Office of the Tax Ombud website, a toll-free call centre and a case management system designed to make tax dispute resolution more accessible to taxpayers across the country.
Speaking during the]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-launches-free-tax-dispute-resolution-platforms-for-nigerians/Tue, 19 May 2026 04:53:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-launches-free-tax-dispute-resolution-platforms-for-nigerians/ The Managing Director and Chief Executive Officer of NDPHC, Jennifer Adighije, said the company is positioned to significantly boost power availability in Lagos through strategic investments in generation, tran]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-to-enjoy-247-electricity-supply-soon-ndphc-boss/Tue, 19 May 2026 04:50:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-to-enjoy-247-electricity-supply-soon-ndphc-boss/ Shareholders of the Nigerian Aviation Handling Company (nahco aviance) have urged the management to bid for ownership and management of airport terminals following the planned privatisation of airport infrastructure by the federal government.
The government plans to privatize and concession Nigeria’s five major international airport terminals in order to improve their infrastructure and efficiency via a Public-Private Partnership (PPP) strategy to be supervised by the Bure]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/concession-shareholders-urge-nahco-to-bid-for-airports/Tue, 19 May 2026 04:46:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/concession-shareholders-urge-nahco-to-bid-for-airports/ The billionaire investor and chairman of United Bank for Africa will be presented for formal election as a Non-Executive Director at Seplat’s 13th Annual General Meeting scheduled for May 20, 2026. Shareholders will vote on his appointment during the virtual session,]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/elumelu-heads-to-seplat-board-as-heirs-energies-secures-500m-stake/Tue, 19 May 2026 04:43:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/elumelu-heads-to-seplat-board-as-heirs-energies-secures-500m-stake/https://www.newslocker.com/en-ng/news/nigeria-economy-news/experts-gather-in-lagos-for-ashrae-2026-lecture/Tue, 19 May 2026 04:42:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/experts-gather-in-lagos-for-ashrae-2026-lecture/ Nigeria’s debt managers are testing investor appetite with a N600 billion bond auction, even as borrowing costs show early signs of easing across the fixed-income market.
The Debt Management Office (DMO), acting on behalf of the Federal Government, is reopening two existing bonds with headline coupon rates of 22.60 per cent and 16.2499 per cent, offering investors a mix of high returns and long-term stability. The offer, which closes today, May 18, 2026, settles on May 20 and]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-offers-n600bn-bonds-as-borrowing-costs-drop/Tue, 19 May 2026 04:40:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-offers-n600bn-bonds-as-borrowing-costs-drop/ The Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, on Monday, disclosed that Nigeria is ramping up investments in its ports and rolling out key maritime reforms as it pushes to become the dominant trade and logistics hub across West and Central Africa.
Oyetola said this while declaring open the Mid-Year Session of the Board of Directors of the Port Management Association of West and Central Africa (PMAWCA) in Lagos.The meeting is themed, “Ports of the Future: C]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-boosting-port-capacity-to-capture-regional-trade-minister/Tue, 19 May 2026 04:39:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-boosting-port-capacity-to-capture-regional-trade-minister/ The initiative, carried out in collaboration with the Central Bank of Nigeria (CBN) as part of the 2026 Global Money Week celebration, reached thousands of students across the country’s six geopolitical zones.
The programme, themed ‘‘Smart Money Talks’’, was designed to help students un]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fcmb-teaches-young-nigerians-how-to-manage-money/Tue, 19 May 2026 04:38:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fcmb-teaches-young-nigerians-how-to-manage-money/ Pressure is mounting on the Central Bank of Nigeria (CBN) to resume monetary easing as businesses and households grapple with stubborn inflation, high borrowing costs and weak consumer demand ahead of the decision of the Monetary Policy Committee (MPC) meeting on Wednesday.
Although inflation remains elevated, a growing number of Nigerians now favour lower interest rates, arguing that tight monetary conditions are worsening economic hardship and constraining business activit]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-faces-rate-cut-calls-amid-stubborn-inflation-risks/Tue, 19 May 2026 04:36:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-faces-rate-cut-calls-amid-stubborn-inflation-risks/ The Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, on Monday said Nigeria is expanding its port capacity and implementing major maritime reforms aimed at positioning the country as the leading trade and logistics hub in West and Central Africa.
Dr Oyetola said this while declaring open the Mid-Year Session of the Board of Directors of the Port Management Association of West and Central Africa (PMAWCA) in Lagos. The meeting is themed “Ports of the Future: Combi]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-expanding-port-capacity-to-dominate-regional-trade-logistics-hub-oyetola/Mon, 18 May 2026 16:32:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-expanding-port-capacity-to-dominate-regional-trade-logistics-hub-oyetola/ This follows the approval of the Board of Directors of the African Development Bank Group.
The facility will drive Nigeria’s industrial transformation by providing medium to long-term funding for businesses in critical sectors incl]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/boi-secures-200m-financing-facility-from-adb-to-aid-nigerias-industrial-transformation/Mon, 18 May 2026 10:30:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/boi-secures-200m-financing-facility-from-adb-to-aid-nigerias-industrial-transformation/https://www.newslocker.com/en-ng/news/nigeria-economy-news/financial-institutions-race-to-meet-cbn-deadline-on-new-cyber-security-standard/Mon, 18 May 2026 08:27:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/financial-institutions-race-to-meet-cbn-deadline-on-new-cyber-security-standard/https://www.newslocker.com/en-ng/news/nigeria-economy-news/sec-warns-nigerians-against-rising-ponzi-schemes-on-social-media/Mon, 18 May 2026 08:12:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/sec-warns-nigerians-against-rising-ponzi-schemes-on-social-media/https://www.newslocker.com/en-ng/news/nigeria-economy-news/manufacturing-export-stagnates-despite-rising-trade-value/Mon, 18 May 2026 08:06:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/manufacturing-export-stagnates-despite-rising-trade-value/https://www.newslocker.com/en-ng/news/nigeria-economy-news/fertiliser-plants-dangote-vows-to-ensure-food-security-in-africa/Mon, 18 May 2026 07:48:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fertiliser-plants-dangote-vows-to-ensure-food-security-in-africa/https://www.newslocker.com/en-ng/news/nigeria-economy-news/stock-market-extends-rally-as-investors-reap-n33trn/Mon, 18 May 2026 07:05:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/stock-market-extends-rally-as-investors-reap-n33trn/ After two years of chasing new funds, meeting tough regulations and pitching to investors, pressure is now building on banks to make better use of their profits before the next earnings season, Daily Sun findings show.
With the recapitalisation exercise led by the Central Bank of Nigeria (CBN) now completed, banks have raised a combined N4.65 trillion to meet new capital requirements. While this has strengthened the sector and boosted their financial capacity, attention is s]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/banks-under-pressure-to-turn-n465trn-capital-profits-into-real-growth/Mon, 18 May 2026 03:48:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/banks-under-pressure-to-turn-n465trn-capital-profits-into-real-growth/ President of the Dangote Group, Aliko Dangote, has reaffirmed his commitment to boosting food security across Africa through large-scale fertiliser investments, declaring that the continent has the capacity to feed itself and become a net exporter of agricultural products.
Dangote made this known while addressing journalists in Gode, in Ethiopia’s Somali region, during a high-profile visit hosted by Prime Minister Abiy Ahmed. The Prime Minister p]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/dangote-targets-food-security-in-africa-with-fertiliser-expansion/Mon, 18 May 2026 03:47:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/dangote-targets-food-security-in-africa-with-fertiliser-expansion/ The two products, the Naira Visa Debit Card and the Visa Signature Debit Multi-Currency Card, were unveiled as part of a strategic partnership aimed at expanding access to secure, seamless and globally connected payment s]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/firstbank-visa-unveil-2-new-products-to-deepen-electronic-banking-financial-inclusion/Mon, 18 May 2026 03:45:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/firstbank-visa-unveil-2-new-products-to-deepen-electronic-banking-financial-inclusion/ He made the remarks while delivering a keynote address at the 4th Biennial International Conference organised by the Faculty of Communication and Information Sciences at University of Ilorin in collaboration with the Faculty]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/customs-cg-urges-ethical-ai-use-stronger-human-oversight-in-digital-era/Mon, 18 May 2026 03:43:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/customs-cg-urges-ethical-ai-use-stronger-human-oversight-in-digital-era/ The increase comes at a time when ownership structures across Nigeria’s banking sector remain largely fragmented, a model tha]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/otedolas-expanding-footprint-in-first-holdco-fuels-conversation-on-banking-power-structures/Mon, 18 May 2026 03:41:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/otedolas-expanding-footprint-in-first-holdco-fuels-conversation-on-banking-power-structures/ Equities investors gained about N3.34 trillion in one week as the Nigerian Exchange (NGX) sustained its rally, pushing year-to-date returns to 60.87 per cent and driving the benchmark index to a fresh high.
Data from the weekly market report showed that the All-Share Index (ASI) rose by 2.27 per cent week-on-week to close at 250,330.92 points, while market capitalisation advanced to N160.44 trillion from N157.10 trillion recorded the previous week.Similarly, Cowry Asset Manag]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/equity-investors-enjoy-609-gains-as-ngx-reaches-new-record-level/Mon, 18 May 2026 03:40:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/equity-investors-enjoy-609-gains-as-ngx-reaches-new-record-level/  
Investors in Nigerian Aviation Handling Company (NAHCO) Plc are increasingly holding on to their shares amid a sustained rally in the company’s stock price. The shareholders argue that the combination of dividend growth and share price appreciation has strengthened the investment case for the company at a time when investors on the Nigerian Exchange (NGX) are increasingly seeking companies with stable earnings and regular cash returns.At the company’s annua]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/why-investors-are-sticking-to-nahco-shares/Mon, 18 May 2026 03:39:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/why-investors-are-sticking-to-nahco-shares/  
The Association of Securities Dealing Houses of Nigeria (ASHON) has warned that political tension and policy uncertainty could weaken investor confidence and slow the growth of Nigeria’s capital market if not properly managed.The Chairman of the Association of Securities Dealing Houses of Nigeria (ASHON), Sehinde Adenagbe urged that maintaining stability in the political environment would be critical to sustaining recent gains recorded in the Nigerian capital mar]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ashon-warns-political-tension-could-hurt-capital-market-growth/Mon, 18 May 2026 03:38:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ashon-warns-political-tension-could-hurt-capital-market-growth/ Sterling Financial Holdings Company Plc has reported that its total assets rose above the N4 trillion mark for the first time, reaching N4.07 trillion in the first quarter ended March 31, 2026, driven by continued expansion in its balance sheet and improved earnings performance across its banking businesses.
The development followed the release of the Group’s audited financial results for the year ended December 31, 2025, alongside its unaudited first-quarter 2026]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/sterling-financial-holdings-assets-hit-n407trn/Mon, 18 May 2026 03:37:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/sterling-financial-holdings-assets-hit-n407trn/ Operators are strongly calling for immediate import duty waivers on critical oil and gas equipment and faster port clearance to ease bottlenecks slowing project execution and inflating costs.
The call was amplified by the Chairman of the Petrol]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/3mb-oil-output-ambition-at-risk-needs-urgent-policy-fix-ogunsanya-petan-boss/Mon, 18 May 2026 03:20:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/3mb-oil-output-ambition-at-risk-needs-urgent-policy-fix-ogunsanya-petan-boss/ From Bimbola Oyesola,                                              
oritokeoyee@gmail.com
 
The National Pension Commission (PenCom) has launched a major healthcare intervention for low-income retirees, unveiling a free medical support initiative expected to benefit 30,000 pensioners in its pilot phase under the Contributory Pension S]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/pencom-rolls-out-free-healthcare-for-low-income-retirees/Mon, 18 May 2026 02:59:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/pencom-rolls-out-free-healthcare-for-low-income-retirees/  
From Bimbola Oyesola
Managing director and Chief Executive Officer of the Nigeria Social Insurance Trust Fund (NSITF), Mr. Oluwaseun Faleye, has said the Employees’ Compensation Scheme (ECS) is restoring hope, dignity and confidence to Nigerian workers who suffer injuries in the course of their duties.
Faleye stated this in Abuja during the presentation of prosthetic limbs to 10 beneficiaries under the scheme, describing the intervention as]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nsitf-restores-hope-dignity-to-injured-workers/Mon, 18 May 2026 02:57:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nsitf-restores-hope-dignity-to-injured-workers/ Sweden has given SEK 2 million (just under CHF 170,000) about N296 million to the World Trade Organization (WTO)’s Global Trust Fund for 2026 to finance technical assistance and training programmes for government officials from developing economies and least-developed countries (LDCs) like Nigeria.
The contribution was confirmed at a signing ceremony on 8 May at the WTO attended by Ambassador Nina Tornberg of Sweden and the WTO’s Director of the Finance and Corpo]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/sweden-contributes-sek-2-million-to-wto-capacity-building-activities/Mon, 18 May 2026 02:55:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/sweden-contributes-sek-2-million-to-wto-capacity-building-activities/  
More than 840,000 people die each year from health conditions linked to psychosocial risks, such as long working hours, job insecurity and workplace harassment, according to a new global report by the International Labour Organization (ILO).These work-related psychosocial risks are mainly associated with cardiovascular diseases and mental disorders, including suicide.
The report also finds that these risks account for nearly 45 million disability-adjusted life years (]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/840000-deaths-a-year-linked-to-psychosocial-risks-at-work/Mon, 18 May 2026 02:53:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/840000-deaths-a-year-linked-to-psychosocial-risks-at-work/ Efforts to deepen human capital development in the power sector has received the needed boost as Sahara Power Group has announced the launch of its flagship Sahara Power Technical and Innovation Academy (SPTIA).
The key initiative is designed to equip young Nigerian engineers with the technical expertise and practical experience needed to drive sustainable power generation nationwide.
The programme will be delivered in collaboration with Egbin Power and First Independent Powe]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/sahara-unveils-power-academy-to-train-young-nigerian-engineers/Mon, 18 May 2026 02:44:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/sahara-unveils-power-academy-to-train-young-nigerian-engineers/  
The Association of Energy Correspondents of Nigeria ( NAEC) has unveiled plans toward its forthcoming Annual Conference.
The Conference with the theme:”Access to Assets: Empowering Players and Driving Growth” is scheduled to hold on Thursday, October 8, 2026, at the Eko Hotels & Suites, Victoria Island, Lagos.
A statement jointly signed by NAEC Chairman, Mr. Ugo Amadi and the Conference Chairman, Mr. Adeola Yusuf, hinted that the conference is exp]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/naec-conference-to-address-setbacks-confronting-indigenous-energy-firms/Mon, 18 May 2026 02:43:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/naec-conference-to-address-setbacks-confronting-indigenous-energy-firms/ By Adewale SanyaoluA fresh crisis is brewing in Nigeria’s downstream petroleum sector over a lawsuit instituted by the Dangote Petroleum Refinery asking the court to nullify import permits issued or renewed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to the Nigerian National Petroleum Company (NNPC) and marketers.
The refinery is insisting that the approvals violate an earlier court ord]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/marketers-fight-dangote-over-plans-to-block-petrol-import-permits/Mon, 18 May 2026 02:37:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/marketers-fight-dangote-over-plans-to-block-petrol-import-permits/ Backed by a string of court victories, the Palace says it has reclaimed large portions of land previously lost to irregular transactions and encroachment by speculators.Among the key recoveries is 1,349 hectares originally designated for t]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/monarch-reclaims-ogwashi-uku-lands-plans-massive-investments/Mon, 18 May 2026 02:35:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/monarch-reclaims-ogwashi-uku-lands-plans-massive-investments/  
By Chinelo Obogo
Passengers and visitors to the Murtala Muhammed Airport Terminal 2 (MMA2) have continued to fume over a 150 per cent hike in parking fees, describing the increase as excessive and frustrating.
In April, Bi-Courtney Aviation Services Limited, the company which manages the terminal, took the tariff to stratospheric heights.
Saloon cars now pay N3,500 for the first 60 minutes and N2,500 for the subsequent hour while Sports U]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/outrage-grows-over-high-lagos-airport-parking-fees/Mon, 18 May 2026 02:33:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/outrage-grows-over-high-lagos-airport-parking-fees/ Through its long-term scholarship initiative, OPay has committed N1.2 billion over 10 years to support outstanding and indigent students across more than 20 partner tertiary i]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/1-year-into-opays-n12b-10-year-scholarship-initiative-whats-next/Mon, 18 May 2026 02:31:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/1-year-into-opays-n12b-10-year-scholarship-initiative-whats-next/ Speaking at the 2026 Africa Forward Summit co-hosted by William Ruto and Emmanuel Macron, the Heirs Holdings founder told an audience of heads of state, investors and business leaders that Africa is open to collaboratio]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/elumelu-africas-youths-need-opportunities-not-handouts/Mon, 18 May 2026 02:29:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/elumelu-africas-youths-need-opportunities-not-handouts/ W Motors, the official distributor of Jetour in Nigeria, has expressed its commitment to empower buyers in Nigeria with the knowledge to make smarter automotive choices, and not just, purchase vehicles.
The Managing Director of Jetour/W Motors, Toni Jammal, said this in Lagos at the weekend, explaining that there are two categories of Jetour vehicles currently in the Nigerian market. The first consists of officially manufactured Nigeria-specification vehicles designed to suit lo]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/jetour-vehicles-w-motors-sheds-light-on-nigeria-spec-vs-grey-imports/Mon, 18 May 2026 02:25:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/jetour-vehicles-w-motors-sheds-light-on-nigeria-spec-vs-grey-imports/ Launch Design Shanghai and Hybrid Motors Nigeria have signed a strategic partnership agreement to establish electric vehicle (EV) manufacturing plants in Lagos and Abuja, marking a major step toward advancing Nigeria’s automotive and clean mobility ambitions.
The agreement, signed in Shanghai on May 8, 2026, will support the production of “Acely,” Hybrid Motors Nigeria’s homegrown vehicle brand developed for Nigerian road conditions and driving needs.
The]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/launch-design-hybrid-motors-seal-deal-on-ev-manufacturing-plants-in-lagos-abuja/Mon, 18 May 2026 02:18:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/launch-design-hybrid-motors-seal-deal-on-ev-manufacturing-plants-in-lagos-abuja/  
The 2026 edition of the West Africa Automotive Show (WAAS) ended on Thursday, May 14, at the Landmark Centre, Victoria Island, Lagos, with widespread acclaim from exhibitors, visitors and industry stakeholders, many of whom described it as the biggest and most successfuledition of the regional automotive exhibition so far.
Opened on Tuesday, May 12, WAAS 2026 attracted more than 350 exhibitors from across the world and was projected to host over 6,000 visitors during its]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/record-waas-2026-ends-in-lagos-positions-nigeria-as-west-africas-auto-investment-hub/Mon, 18 May 2026 02:15:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/record-waas-2026-ends-in-lagos-positions-nigeria-as-west-africas-auto-investment-hub/ No. Auto Spare Parts and Machinery Dealers Association (ASPMDA) has intensified calls for a strategic partnership with the Federal Government as it pushes to reposition Nigeria’s automotive aftermarket industry as a major driver of industrial growth and local manufacturing.President of the association, Hon. Ngozi Emechebe, said ASPMDA was undergoing a major transformation from a traditional trading cluster into a modern automotive business hub capable of supporting the cou]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/aspmda-seeks-federal-partnership-to-transform-nigerias-automotive-aftermarket-industry/Mon, 18 May 2026 02:11:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/aspmda-seeks-federal-partnership-to-transform-nigerias-automotive-aftermarket-industry/  
The CEO of Dana Motors Ltd, Mr. Jacky Hathiramani, has been honoured with a special appointment as Special Ambassador by the Ministry of Defence.
A letter personally signed by the Minister of Defence, Gen. Christopher Gwabin Musa (rtd), and addressed to Hathiramani , explained that the appointment was in recognition of his long- standing contributions to humanitarian causes, youth empowerment, economic development, and national growth in Nigeria.
The recognition is a test]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/defence-minister-appoints-dana-motors-ceo-hathiramani-special-ambassador/Mon, 18 May 2026 02:08:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/defence-minister-appoints-dana-motors-ceo-hathiramani-special-ambassador/ _______________________________________________________________________
By Adewale Sanyaolu
A fresh crisis is brewing in the downstream petroleum sector over a lawsuit instituted by Dangote Petroleum Refinery asking the court to nullify import permits issued or renewed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to NNPC and marketers.
The refinery is insisting that the approvals violate an earli]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/marketers-challenge-dangote-over-plans-to-block-petrol-import-permits/Sun, 17 May 2026 16:28:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/marketers-challenge-dangote-over-plans-to-block-petrol-import-permits/ The Bureau of Public Procurement (BPP) has issued sweeping guidelines that centralise the review of contract variations and make the use of final designs mandatory for all federal public procurements, saying the move is intended to curb “cost inflation and scope creep” and strengthen fiscal discipline.
In a statement issued by the Head of Press and Public Procurement, Zira Nagga, dated May 16, 2026, the Bureau said the new Guidelines on the Implem]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/bpp-tightens-rules-on-contract-variations-centralises-approvals-final-designs/Sun, 17 May 2026 14:23:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/bpp-tightens-rules-on-contract-variations-centralises-approvals-final-designs/ Around 40 million Nigerian telecom subscribers have been stranded without access to emergency airtime and data credit as a festering regulatory dispute between the Federal Competition and Consumer Protection Commission (FCCPC) and key telecom industry players continues to cripple the nation’s estimated ₦400 billion annual airtime and data lending market.
The nationwide suspension of airtime lending services, now entering its second month, has persisted despite two s]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/airtime-lending-freeze-drags-on-despite-court-order-ncc-and-others-keep-mute/Sun, 17 May 2026 13:42:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/airtime-lending-freeze-drags-on-despite-court-order-ncc-and-others-keep-mute/ In a bid to strengthen confidence in Nigeria’s insurance market and deepen consumer protection, the Commissioner for Insurance and Chief Executive Officer, National Insurance Commission, Olusegun Ayo Omosehin, has charged the newly inaugurated Insurance Policyholders’ Protection Fund (IPPF) Committee to ensure that the Fund is credible, well governed, and effective when policyholders need it most.
The Commissioner who gave this charge in Abuja over the weekend clearly s]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/naicom-sets-up-policyholders-protection-fund-committee/Sun, 17 May 2026 03:47:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/naicom-sets-up-policyholders-protection-fund-committee/ The Nigeria Civil Aviation Authority (NCAA) has taken a step toward modernizing its regulatory framework, as it unveiled the EMPIC Personnel Licencing and Medical Certification digital platform at a stakeholder engagement session in Lagos this week.
The Director General of the NCAA, Capt. Chris Najomo called on airlines, training organizations, medical centres, and license holders to embrace the transformation, describing it as a critical shift from paper-driven processes to a d]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ncaa-dg-najomo-urges-aviation-stakeholders-to-embrace-overhaul-of-digital-licencing/Sat, 16 May 2026 18:01:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ncaa-dg-najomo-urges-aviation-stakeholders-to-embrace-overhaul-of-digital-licencing/https://www.newslocker.com/en-ng/news/nigeria-economy-news/sampp-raises-nigeriarsquos-credit-rating-on-stronger-economy/Sat, 16 May 2026 16:07:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/sampp-raises-nigeriarsquos-credit-rating-on-stronger-economy/ Dangote Petroleum Refinery has dragged the Attorney General of the Federation before the court in a fresh legal battle over fuel import licences granted to marketers and the Nigerian National Petroleum Company (NNPC), court documents have shown.
The latest suit signals renewed tension in Nigeria’s downstream oil sector, barely one year after the refinery withdrew an earlier case challenging similar import approvals issued to NNPC and some fuel traders.
In the fresh fili]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/dangote-drags-fg-to-court-over-fresh-petrol-import-licences/Sat, 16 May 2026 04:31:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/dangote-drags-fg-to-court-over-fresh-petrol-import-licences/ Justice Kanyip also questioned the constitutionality of provisions in the Nigeria Deposit Insurance Corporation (NDIC) Act that shield the corporation from garnishee or]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/depositors-must-come-first-in-failed-bank-liquidation-justice-kanyip/Sat, 16 May 2026 02:23:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/depositors-must-come-first-in-failed-bank-liquidation-justice-kanyip/ The two products, the Visa Value Naira Debit Card and the Visa Signature Debit Multi-Currency Card, were unveiled as part of a strategic partnership aimed at expanding access to secure, seamless and globally connec]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/firstbank-visa-unveil-new-debit-cards-to-boost-digital-payments-customer-experience/Sat, 16 May 2026 02:20:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/firstbank-visa-unveil-new-debit-cards-to-boost-digital-payments-customer-experience/ The two products, the Visa Value Naira Debit Card and the Visa Signature Debit Multi-Currency Card, were unveiled as part of a strategic partnership aimed at expanding access to secure, seamless and globally connec]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/firstbank-visa-unveil-new-debit-cards-to-boost-digital-payments/Sat, 16 May 2026 02:20:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/firstbank-visa-unveil-new-debit-cards-to-boost-digital-payments/https://www.newslocker.com/en-ng/news/nigeria-economy-news/equities-market-loses-n123trn-as-profit-taking-persists/Fri, 15 May 2026 22:59:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/equities-market-loses-n123trn-as-profit-taking-persists/ From Isaac Anumihe, Abuja
Headline inflation for the month of April, 2026, rose to 15.69 per cent from 15.38 per cent in March 2026 and stood at 26.82 per cent in the same month of the preceding year (April 2025).
The data was obtained in a document published by the National Bureau of Statistics (NBS), today.
According to the document, looking at the movement, the April 2026headline inflation rate showed an increase of 0.31 per cent compared to the March 2026 headlin]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/inflation-rises-to-1569-in-april/Fri, 15 May 2026 18:28:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/inflation-rises-to-1569-in-april/ From Adanna Nnamani, Abuja
The Central Bank of Nigeria (CBN) has unveiled the fourth edition of its Foreign Exchange Manual as part of efforts to deepen liquidity, improve transparency and strengthen confidence in the country’s foreign exchange market.
Speaking at the launch of the revised manual in Abuja, on Friday, the Governor of the CBN, Mr Olayemi Cardoso, said the document which takes effect from June 1, 2026, wa]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-launches-revised-forex-manual-to-deepen-fx-market-liquidity/Fri, 15 May 2026 16:12:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-launches-revised-forex-manual-to-deepen-fx-market-liquidity/https://www.newslocker.com/en-ng/news/nigeria-economy-news/post-recapitalisation-cbn-tightens-grip-on-governance/Fri, 15 May 2026 16:11:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/post-recapitalisation-cbn-tightens-grip-on-governance/https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-launches-fx-manual-grants-extractive-firms-full-proceeds-access/Fri, 15 May 2026 15:21:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-launches-fx-manual-grants-extractive-firms-full-proceeds-access/  
Heirs Insurance Group has launch a multi-language generative AI assistant named ‘Prince AI’ marking a major milestone in its digital transformation journey and reinforcing its commitment to making insurance simple, accessible, and inclusive. 
 
The development comes as the Group approaches its fifth anniversary, highlighting five years of redefining insurance through innovation, customer-centricity, and technology-driven solutions.
 
With Prince AI]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/heirs-group-redefines-insurance-with-multi-language-generative-ai-assistant/Fri, 15 May 2026 09:41:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/heirs-group-redefines-insurance-with-multi-language-generative-ai-assistant/ By Henry Uche
 
AIICO Insurance Plc has declared a normalized profit after tax of ₦23.7 billion, a 195.4% increase from its 2024 report. According to the insurer, the company didn’t just meet expectations; it smashed through them, exceeding forecasts by 23.1% despite slower customer demand due to inflation. 
 
Despite economic turbulences, AIICO affirmed that, for the year ended December 31, 2025, its revenues jumped 26.5% to ₦137]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/aiico-insurance-records-n237bn-pat/Fri, 15 May 2026 09:34:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/aiico-insurance-records-n237bn-pat/https://www.newslocker.com/en-ng/news/nigeria-economy-news/fmda-forecasts-1642-april-inflation-rate-amid-fuel-food-prices-surge/Fri, 15 May 2026 08:17:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fmda-forecasts-1642-april-inflation-rate-amid-fuel-food-prices-surge/https://www.newslocker.com/en-ng/news/nigeria-economy-news/neiti-raises-alarm-over-illicit-financial-flows-in-solid-minerals-sector/Fri, 15 May 2026 08:13:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/neiti-raises-alarm-over-illicit-financial-flows-in-solid-minerals-sector/https://www.newslocker.com/en-ng/news/nigeria-economy-news/how-mafia-fought-to-frustrate-20bn-dangote-petroleum-refineryaliko-dangote/Fri, 15 May 2026 08:09:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/how-mafia-fought-to-frustrate-20bn-dangote-petroleum-refineryaliko-dangote/https://www.newslocker.com/en-ng/news/nigeria-economy-news/customs-hands-over-illicit-substances-worth-n167bn-to-ndlea/Fri, 15 May 2026 07:58:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/customs-hands-over-illicit-substances-worth-n167bn-to-ndlea/https://www.newslocker.com/en-ng/news/nigeria-economy-news/opec-plans-oil-quota-hikes-to-restore-165m-bpd-cuts/Fri, 15 May 2026 07:56:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/opec-plans-oil-quota-hikes-to-restore-165m-bpd-cuts/https://www.newslocker.com/en-ng/news/nigeria-economy-news/electricity-tcn-records-276-tower-vandalism-in-3-years/Fri, 15 May 2026 07:52:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/electricity-tcn-records-276-tower-vandalism-in-3-years/https://www.newslocker.com/en-ng/news/nigeria-economy-news/pencom-grants-pfas-waiver-to-invest-in-dangote-refinery-ipo/Fri, 15 May 2026 07:49:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/pencom-grants-pfas-waiver-to-invest-in-dangote-refinery-ipo/ Africa’s richest man made the revelation during an interview with Chief Executive Officer of Norway’s Sovereign Wealth Fund, Nicolai Tangen.
He said the entrenched interests in the sector believed the coming of the refinery would alter the trade flows that encouraged massive importation of refined]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/mafia-almost-frustrated-20bn-petroleum-refinery-project-dangote/Fri, 15 May 2026 07:47:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/mafia-almost-frustrated-20bn-petroleum-refinery-project-dangote/ By Uche UsimThe Nigeria Extractive Industries Transparency Initiative (NEITI) has lifted the lid on the scale of illicit financial flows ravaging Nigeria’s mining sector and warned that weak regulation, opaque ownership structures, illegal mining and criminal infiltration were undermining the country’s economic diversification drive.
In a new policy brief released Thursday in Abuja, NEITI described illicit financial flows (IFFs) in]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/neiti-raises-alarm-over-criminal-networks-revenue-leakages-in-mining-sector/Fri, 15 May 2026 03:25:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/neiti-raises-alarm-over-criminal-networks-revenue-leakages-in-mining-sector/ From Isaac Anumihe, Abuja
Nigeria requires at least $100 billion in infrastructure investment annually to bridge its widening development gap, but current public sector funding can only cover less than 30 per cent of that need, the Director-General and Chief Executive Officer of the Infrastructure Concession Regulatory Commission, Dr. Jobson Ewalefoh, has revealed.
Ewalefoh warned that the country’s worsening infrastructure cr]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-needs-100bn-yearly-to-fix-crumbling-infrastructure-icrc-dg/Fri, 15 May 2026 03:24:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-needs-100bn-yearly-to-fix-crumbling-infrastructure-icrc-dg/ The agreement, signed at the CBN headquarters in Abuja on Wednesday, is a major institutional collaboration between Nigeria’s apex bank and the nation’s meteorological agency to integrate weather]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-nimet-seal-data-sharing-pact-to-bolster-economic-planning-food-security/Fri, 15 May 2026 03:22:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-nimet-seal-data-sharing-pact-to-bolster-economic-planning-food-security/ The meeting, themed “Shaping the Future,” will be conducted virtually, reflecting the Bank’s forward-thinking approach to corporate governance and its commitment to digital-first engagement with its shareholders and other stakeholders.
The 2026 AGM serves as a critical milestone for the instituti]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/abbey-mortgage-bank-holds-agm-may-25/Fri, 15 May 2026 03:20:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/abbey-mortgage-bank-holds-agm-may-25/ Dr. Julius B. Omodayo-Owotuga brings twenty-four (24) years of experience span]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/julius-b-omodayo-owotuga-appointed-executive-director-at-first-bank/Fri, 15 May 2026 03:14:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/julius-b-omodayo-owotuga-appointed-executive-director-at-first-bank/ By Chinwendu Obienyi
Ahead of the upcoming Monetary Policy Committee (MPC) meeting of the Central Bank of Nigeria, its members are increasingly projecting the naira-for-crude arrangement as a critical buffer against rising fuel costs and renewed inflationary pressures amid growing global geopolitical tensions.
The position comes as concerns mount over the possible impact of escalating conflict in the Middle East on crude oil prices,]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/mpc-backs-expanded-naira-for-crude-deal-to-ease-fuel-pressure/Fri, 15 May 2026 03:05:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/mpc-backs-expanded-naira-for-crude-deal-to-ease-fuel-pressure/   
The outreach saw students across Osogbo Grammar School, Oloofa Grammar School, St. Georges’ Primary School, Special Needs Secondary School,]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/opay-supports-over-1000-osun-students-through-play4achild-initiative/Fri, 15 May 2026 03:03:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/opay-supports-over-1000-osun-students-through-play4achild-initiative/ The Chief Research Officer of the Nigerian Institute for Oil Palm Research (NIFOR), Mr. Omofomwan Isaac, has attributed the persistent increase in prices of palm oil to insufficient local production.
He made the assertion while speaking with journalists in Benin City, Edo State capital, yesterday.
Isaac said the sector is facing serious pressure due to structural challenges affecting production, distribution, and market operations.
According to him, recent research sh]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/expert-links-surging-palm-oil-prices-to-low-domestic-output/Fri, 15 May 2026 03:01:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/expert-links-surging-palm-oil-prices-to-low-domestic-output/ The Nigerian Communications Commission (NCC) and the National Judicial Institute (NJI) have deepened collaboration aimed at strengthening Nigeria’s digital safety architecture, protecting telecommunications infrastructure, and addressing emerging cyber threats in the country’s rapidly expanding digital economy.
This was the focus of discussions at the 2026 Workshop for Justices and Judges on Legal Issues in Telecommunications held Thursday in Lagos, where top judi]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ncc-judiciary-partner-to-fortify-telecom-infrastructure-digital-safety/Fri, 15 May 2026 02:59:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ncc-judiciary-partner-to-fortify-telecom-infrastructure-digital-safety/ According to a Bloomberg report on Thursday, the group has already reinstated roughly two-thirds of the 1.65 million barrels per day production cut agreed in 2023, with plans to roll out further quota increases in three additional monthly phases]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/opec-maintains-gradual-output-restoration-despite-middle-east-disruptions/Fri, 15 May 2026 02:58:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/opec-maintains-gradual-output-restoration-despite-middle-east-disruptions/ talktonelo@yahoo.comThe Acting Chief Executive of South African Airways (SAA), Matshela Seshibe, has blamed Africa’s slow air travel growth on a plethora of factors.Top on his list is the high cost of air travel across Africa.
To fix this, he has called for urgent government action to bring it down, warning that the continent’s aviation sector cannot grow under its current tax and charges regime.
Seshibe said this on Wednesday at the May edition of]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/why-africas-air-travel-growth-is-stunted-seshibe-south-african-airways-ceo/Fri, 15 May 2026 02:25:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/why-africas-air-travel-growth-is-stunted-seshibe-south-african-airways-ceo/ By Chinelo Obogo
 
Henceforth, passengers who engage in unruly behaviour at airports or pose a threat to airport personnel and other users will face a fine of up to N500,000 or a two-year jail term upon conviction.
This is the position of the Federal Airport Authority of Nigeria as it cracks down on air rage, which is fast becoming the rule rather than the exception.According to the Authority, the disruptive behaviour from passe]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/faan-cracks-down-on-air-rage/Fri, 15 May 2026 02:23:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/faan-cracks-down-on-air-rage/ ______________________________________________________________________
The Enugu Electricity Regulatory Commission (EERC) has announced the downgrade of 59 feeders under the franchise of MainPower Electricity Distribution Company Limited.
MainPower is a subsidiary of the Enugu Electricity Distribution Company (EEDC), which services customers in Enugu State.
EERC attributed the action to MainPower’s failure to meet the threshold of minimum hours o]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/mainpower-eerc-downgrades-59-feeders-in-enugu-over-poor-power-supply/Thu, 14 May 2026 22:48:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/mainpower-eerc-downgrades-59-feeders-in-enugu-over-poor-power-supply/ President Bola Tinubu’s push for economic revival gained fresh momentum on Thursday when APM Terminals, a global port operator, pledged a whopping $600 million investment in Nigeria’s maritime sector, according to a State House statement issued by the Special Adviser on Information and Strategy, Bayo Onanuga.
The commitment came during a high-level meeting on the sidelines of the ongoing Africa CEO Forum in Kigali, Rwanda, where the Regional Preside]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/apm-terminals-pledges-600m-for-apapa-port-upgrade-as-tinubu-woos-investors-in-kigali/Thu, 14 May 2026 22:07:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/apm-terminals-pledges-600m-for-apapa-port-upgrade-as-tinubu-woos-investors-in-kigali/ Dr. Julius B. Omodayo-Owotuga brings twenty-four (24) years of experience span]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/julius-b-omodayo-owotuga-appointed-as-an-executive-director-at-first-bank/Thu, 14 May 2026 21:27:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/julius-b-omodayo-owotuga-appointed-as-an-executive-director-at-first-bank/ The International Finance Corporation (IFC) is set to dispatch a high-level mission to Nigeria to explore scalable investment frameworks in the livestock, energy and housing sectors, its Managing Director, Makhtar Diop, announced on Thursday.
The disclosure came during a sideline meeting with President Bola Tinubu at the 13th Africa CEO Forum Summit in Kigali, Rwanda, according to a statement issued by the Special Adviser on Information and Strategy, Bayo Onanu]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ifc-to-deploy-team-to-nigeria-for-investments-in-livestock-energy-housing/Thu, 14 May 2026 19:58:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ifc-to-deploy-team-to-nigeria-for-investments-in-livestock-energy-housing/ The Chairman of the Presidential Initiative on Compressed Natural Gas and Electric Vehicles, Ismaeel Ahmed, has said the Presidential Initiative on CNG-EV is designed to accelerate Nigeria’s transition to local, cleaner and cheaper energy for its transport sector.
He made the remark on Thursday in Kano at the launch of the CNG-EV Initiative for the Northern Corridor, held at the Sani Abacha Stadium in Kano State.
Ahmed remarked that over the last 20 years, the Pres]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/cng-ev-initiative-to-accelerate-nigerias-transition-to-cleaner-cheaper-energy/Thu, 14 May 2026 19:27:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cng-ev-initiative-to-accelerate-nigerias-transition-to-cleaner-cheaper-energy/ The Federal Government has announced the successful production of 10,000 made-in-Nigeria T-shirts under a six-month pilot scheme aimed at reviving the country’s struggling textile industry and reducing dependence on imported garments.
The initiative, implemented under the National Cotton, Textile and Garment Industrial Transformation Programme (NCTG-ITP), was unveiled during the Phase I Showcase and Stakeholder Working Session in Abuja.
Speaking at the event, the Minis]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/local-content-fg-produces-10000-made-in-nigeria-t-shirts-targets-15m-jobs/Thu, 14 May 2026 18:59:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/local-content-fg-produces-10000-made-in-nigeria-t-shirts-targets-15m-jobs/ The Minister of Finance and Coordinating Minister of the Economy, Wale Oyedele, has praised President Bola Tinubu as the “chief marketer” for Nigeria, spotlighting transformative reforms that are drawing investor interest in power, mining and ports at the Africa CEO Forum in Kigali, Rwanda.
Oyedele described Tinubu’s bilateral engagements as “very exciting”, focusing on mobilising investments.
“You know one very exciting thin]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/tinubu-nigerias-chief-marketer-says-oyedele-at-africa-ceo-forum/Thu, 14 May 2026 18:54:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/tinubu-nigerias-chief-marketer-says-oyedele-at-africa-ceo-forum/ Nigeria’s quest for inclusive economic growth is under threat as a staggering $6.75 billion financing gap continues to limit access to capital for women, youths and persons living with disabilities, stakeholders at the 4th Gender Impact Investment Summit have warned.
The warning came as investors, policymakers, financial institutions and development partners gathered in Lagos on Thursday to push for stronger gender-lens investment policies and more inclusive financing m]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/675bn-funding-gap-threatens-nigerias-inclusive-growth-investors-warn/Thu, 14 May 2026 18:06:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/675bn-funding-gap-threatens-nigerias-inclusive-growth-investors-warn/ __________________________________________________________________
By Chinenye Anuforo
Nigeria LNG Limited (NLNG) has intensified its push for globally competitive artificial intelligence and digital technology solutions, as the 2026 edition of The Nigeria Prize for Science and Innovation attracted a record 237 entries, the highest participation level since the prestigious $100,000 award was established in 2004.
The milestone comes months after the 2025 edition]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/100000-science-prize-nlng-raises-bar-for-ai-innovation/Thu, 14 May 2026 17:38:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/100000-science-prize-nlng-raises-bar-for-ai-innovation/ President Bola Tinubu held a series of high-stakes bilateral meetings on the sidelines of the Africa CEO Forum, securing fresh investment pledges and opening doors for partnerships in infrastructure, mining, and regional diplomacy, his Special Adviser on Media and Public Communications, Sunday Dare, has revealed.
Speaking to journalists in Kigali, Dare detailed the President’s packed schedule, which kicked off with a plenary session featuring speeches fro]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/africa-ceo-forum-tinubu-secures-600m-port-investment-eyes-guinea/Thu, 14 May 2026 17:07:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/africa-ceo-forum-tinubu-secures-600m-port-investment-eyes-guinea/ The Lagos State Government has disbursed a total of N1.933 billion in loans and grants to micro, small and medium enterprises (MSMEs) as part of efforts to stimulate economic growth, support entrepreneurship and tackle unemployment across the state.
The state’s Commissioner for Wealth Creation and Employment, Akinyemi Ajigbotafe, disclosed this on Thursday during the 2026 Ministerial Press Briefing held at the Bagauda Kaltho Press Centre in Alausa, Ikeja.
Ajigbotafe said]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-disburses-n193bn-loans-to-boost-msmes-create-jobs/Thu, 14 May 2026 16:23:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-disburses-n193bn-loans-to-boost-msmes-create-jobs/ The Director General and Chief Executive Officer of the Infrastructure Concession Regulatory Commission (ICRC), Dr Jobson Ewalefoh, has revealed that Nigeria has an annual investment requirement of $100 billion, with public spending covering less than 30 per cent of the need.
Ewalefoh also noted that traditional procurement models and dwindling budgets are no longer enough, regretting that despite Nigeria’s abundant resources, there is a staggering $2.3 trillion i]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-has-investment-need-of-100bn-annually-icrc/Thu, 14 May 2026 14:18:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-has-investment-need-of-100bn-annually-icrc/https://www.newslocker.com/en-ng/news/nigeria-economy-news/ecobank-group-commits-3bn-for-intra-african-global-trade/Thu, 14 May 2026 09:06:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ecobank-group-commits-3bn-for-intra-african-global-trade/https://www.newslocker.com/en-ng/news/nigeria-economy-news/dmo-lists-n4736b-series-iii-green-bond-on-ngx-fmdq/Thu, 14 May 2026 08:47:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/dmo-lists-n4736b-series-iii-green-bond-on-ngx-fmdq/https://www.newslocker.com/en-ng/news/nigeria-economy-news/geopolitical-risk-reshapes-boardroom-agenda-ey-report/Thu, 14 May 2026 08:40:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/geopolitical-risk-reshapes-boardroom-agenda-ey-report/https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-set-to-host-invest-in-lagos-30-targets-n4trn-investment-inflows/Thu, 14 May 2026 08:30:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-set-to-host-invest-in-lagos-30-targets-n4trn-investment-inflows/ Nigeria recorded a major boost in crude oil production in April 2026, achieving 99.2 percent of its 1.5 million barrels per day production quota approved by the Organisation of the Petroleum Exporting Countries (OPEC).
The latest production figures released by the Nigeria Upstream Petroleum Regulatory Commission showed that the country’s crude oil output rose by 7.58 percent compared with March 2026 levels.
According to the commission, peak crude oil productio]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-hits-992-of-opec-quota-as-pinl-commends-host-communities/Thu, 14 May 2026 08:21:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-hits-992-of-opec-quota-as-pinl-commends-host-communities/https://www.newslocker.com/en-ng/news/nigeria-economy-news/data-ai-tech-to-drive-investment-decisions-in-nigeria-sec/Thu, 14 May 2026 08:19:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/data-ai-tech-to-drive-investment-decisions-in-nigeria-sec/https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-oil-output-rises-marginally-short-of-opec-quota/Thu, 14 May 2026 08:11:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-oil-output-rises-marginally-short-of-opec-quota/ As the nation’s first cohort-based climate fellowship dedicated exclusively to women in Science, Technology, Engineering, and Mathematics (STEM), the initiative represents a bold step toward bridging the gap between technical talent and environmental leadership.
​The five-month intensive program will equip 30 carefully sele]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/30-women-selected-for-inaugural-stem4climate-fellowship/Thu, 14 May 2026 07:27:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/30-women-selected-for-inaugural-stem4climate-fellowship/https://www.newslocker.com/en-ng/news/nigeria-economy-news/mutual-benefits-pays-n136bn-claims-in-q126/Thu, 14 May 2026 02:30:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/mutual-benefits-pays-n136bn-claims-in-q126/https://www.newslocker.com/en-ng/news/nigeria-economy-news/access-arm-pensions-grows-revenue-to-n424bn-declares-n2-dividend/Thu, 14 May 2026 02:27:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/access-arm-pensions-grows-revenue-to-n424bn-declares-n2-dividend/ Speaking during an interactive session with Nigeria’s leading media executives, the Managing Director/Chief Executive Officer outlined an audacious reform agenda aimed at repositioning the bank beyond a traditional development finance institution.
He said the goal is to transform the Bank of Indust]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/weve-invested-n45bn-in-healthcare-msmes-olusi-boi-ceo/Thu, 14 May 2026 01:04:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/weve-invested-n45bn-in-healthcare-msmes-olusi-boi-ceo/ By Steve Agbota 
President Bola Tinubu has declared that Africa must move from sea blindness to ocean sovereignty and ultimately position maritime governance and security as the foundation for unlocking the continent’s blue economy potential.
Speaking at the High-Level Roundtable on Maritime Sovereignty and Ocean Governance during the Africa Forward Summit 2026 in Nairobi, Kenya, on Tuesday, President Tinubu said Nigeria had transformed its maritime]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerian-waters-now-piracy-free-tinubu/Thu, 14 May 2026 01:04:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerian-waters-now-piracy-free-tinubu/ Bank transfers within and outside Nigeria were disrupted on Wednesday following intermittent downtime on the Nigeria Inter-Bank Settlement System (NIBSS), the central infrastructure responsible for processing electronic payments between financial institutions.
The technical issues triggered delays in naira-denominated transactions nationwide, impacting customers of commercial banks, fintech platforms, and digital lenders.Daily Sun gathered that the disruption, which began ea]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nibss-glitch-disrupts-domestic-international-payments/Thu, 14 May 2026 01:04:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nibss-glitch-disrupts-domestic-international-payments/ The event featured prominent industry players, including the Pan African Equipment Group, which showcased Komatsu machinery and construction equipment, as well as Sany Heavy Industry Co. Limited of China as well as truck crane specialists, XCMG, among others.
Speaking to the media, the Head of Plant and Equipment Department (PED) at Julius Berger, Nico Trostawi]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/julius-berger-hosts-construction-equipment-fair-in-lagos/Thu, 14 May 2026 01:04:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/julius-berger-hosts-construction-equipment-fair-in-lagos/ According to data from the Financial Market Dealers Association (FMDA), autonomous inflows accounted for 64.94% of total FX inflows in 2025, highlighting a growing reliance on private capital flows such as remittances, portfolio investments, non-oil exports, and financial service]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fx-inflows-hit-112bn-as-private-capital-drives-nigerias-dollar-market/Thu, 14 May 2026 01:04:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fx-inflows-hit-112bn-as-private-capital-drives-nigerias-dollar-market/ The federal government has commenced a nationwide ministerial advocacy tour on the Cooperative Bank of Nigeria’s share capital mobilisation and the digitalisation of the cooperative sector, beginning with the South West zone.
The initiative, driven through the Federal Ministry of Agriculture and Food Security, signals the start of a coordinated reform push aimed at strengthening cooperatives as a vehicle for inclusive growth and economic empowerment.
The advocacy programme, wh]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-launches-cooperative-banks-capital-drive-digital-reform-tour-nationwide/Thu, 14 May 2026 01:04:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-launches-cooperative-banks-capital-drive-digital-reform-tour-nationwide/ The acquisition, carried out on May 13, 2026, involved the purchase of 549,535,653 shares at an average price of N79 per share, underscoring renewed investor confidence in the banking group.
Following the transaction, Otedola’s total shareholding in First HoldCo Plc r]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/otedola-tightens-grip-on-first-holdco-acquires-additional-n4341bn-shares/Thu, 14 May 2026 01:03:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/otedola-tightens-grip-on-first-holdco-acquires-additional-n4341bn-shares/ MainPower is a subsidiary of the Enugu Electricity Distribution Company, EEDC, which services customers in Enugu State.
EERC attributed the action to MainPower’s failure to meet the threshold of minimum hours of power availability, especially for Band A customers, despite ch]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/enugu-power-crisis-deepens-as-eerc-downgrades-59-mainpower-feeders/Thu, 14 May 2026 01:03:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/enugu-power-crisis-deepens-as-eerc-downgrades-59-mainpower-feeders/ The federal government, through the Debt Management Office (DMO), has announced a fresh N600 billion Federal Government of Nigeria (FGN) bond auction as part of efforts to finance fiscal obligations and deepen the domestic capital market.
The DMO, in an offer circular issued on Tuesday, said the auction is scheduled for May 18, 2026, while successful subscriptions will be settled on May 20, 2026.
According to the agency, the offer consists of two re-opened bond instru]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-targets-domestic-investors-with-fresh-n600bn-bond-sale/Wed, 13 May 2026 22:03:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-targets-domestic-investors-with-fresh-n600bn-bond-sale/ The Lagos State Government has onboarded 19 accelerators to drive the implementation of the N10 billion Lagos State Micro Enterprise Support Initiative (LASMECO), a single-digit interest, non-collateral financing scheme targeted at cooperative-based micro, small and medium enterprises (MSMEs).
The signing ceremony, held on Tuesday at the Ministry of Commerce, Cooperatives, Trade and Investment (MCCTI) in Alausa, Ikeja, marked the formal commencement of the programme’s ap]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-unveils-19-accelerators-for-n10bn-msme-fund-disbursement/Wed, 13 May 2026 19:22:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-unveils-19-accelerators-for-n10bn-msme-fund-disbursement/ Google has announced a major transformation of Android, introducing a new generation of artificial intelligence-powered features designed to make smartphones smarter, safer and more personal for millions of users worldwide.
The announcement was made during “The Android Show: I/O Edition,” a prelude to the company’s annual Google I/O developer conference.
Google said Android is evolving from a traditional operating system into what it describes as an “I]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/google-transforms-android-into-ai-powered-intelligent-system-with-gemini-features/Wed, 13 May 2026 16:13:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/google-transforms-android-into-ai-powered-intelligent-system-with-gemini-features/https://www.newslocker.com/en-ng/news/nigeria-economy-news/chinese-tech-giant-alibaba-posts-profit-drop-amid-ai-drive/Wed, 13 May 2026 14:37:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/chinese-tech-giant-alibaba-posts-profit-drop-amid-ai-drive/ Small and Medium Scale Enterprises (SMEs), including traders, merchants, artisans operating in Abia State are billed to experience tremendous expansion in their undertakings as OneWallet microfinance Bank is partnering Zenith bank and MTN to build a platform that will provide digital financial services to support the growth of their businesses.
The Chairman of OneWallet, Dr. C Darl Uzu who disclosed this while launching the platform for traders at the Ariaria Internati]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/abia-smes-to-witness-expansion-as-onewallet-partner-mtn-zenith-bank-to-provide-digital-financial-services/Wed, 13 May 2026 13:28:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/abia-smes-to-witness-expansion-as-onewallet-partner-mtn-zenith-bank-to-provide-digital-financial-services/https://www.newslocker.com/en-ng/news/nigeria-economy-news/new-tax-acts-about-building-trust-not-just-raising-revenue-oyedele/Wed, 13 May 2026 07:51:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/new-tax-acts-about-building-trust-not-just-raising-revenue-oyedele/https://www.newslocker.com/en-ng/news/nigeria-economy-news/fccpc-pushes-nationwide-adoption-as-lagos-moves-to-end-estimated-billing/Wed, 13 May 2026 07:47:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fccpc-pushes-nationwide-adoption-as-lagos-moves-to-end-estimated-billing/https://www.newslocker.com/en-ng/news/nigeria-economy-news/lpg-price-to-hit-n1500kg-as-depot-stocks-dry-up/Wed, 13 May 2026 07:43:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/lpg-price-to-hit-n1500kg-as-depot-stocks-dry-up/https://www.newslocker.com/en-ng/news/nigeria-economy-news/petrol-consumption-jumps-108-to-524m-defies-higher-pump-prices/Wed, 13 May 2026 07:22:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/petrol-consumption-jumps-108-to-524m-defies-higher-pump-prices/https://www.newslocker.com/en-ng/news/nigeria-economy-news/food-crisis-driven-by-insecurity-weak-policy-implementation-stakeholders/Wed, 13 May 2026 07:18:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/food-crisis-driven-by-insecurity-weak-policy-implementation-stakeholders/https://www.newslocker.com/en-ng/news/nigeria-economy-news/fx-infractions-efcc-clears-over-1000-bank-accounts-prunes-investigations-to-16/Wed, 13 May 2026 07:13:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fx-infractions-efcc-clears-over-1000-bank-accounts-prunes-investigations-to-16/https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-net-forex-inflow-rises-11-to-6623bn/Wed, 13 May 2026 07:09:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-net-forex-inflow-rises-11-to-6623bn/ Shareholders of Nigerian banks are poised to reap massive gains from the ongoing banking sector recapitalisation exercise, with combined shareholders’ funds projected to approach or exceed N27 trillion.
This marks a sharp increase from the N21.97 trillion recorded in 2024.
The surge in shareholders’ funds follows aggressive capital raising efforts by lenders as they move to comply with the new minimum capital requirements introduced by the Central Bank of Nigeria]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/shareholders-set-to-reap-n27trn-windfall-from-bank-recapitalisation/Wed, 13 May 2026 03:34:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/shareholders-set-to-reap-n27trn-windfall-from-bank-recapitalisation/   
The facility, led by Barton Heyman Limited in partnership with the Rural Electrification Agency (REA), UK PACT, First City Monument Bank (FCMB), and ARMHIIL, aims to raise $188 million to finance 191 megawatts of distributed solar capacity for households, communi]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fcmb-partners-pool-188m-to-expand-renewable-energy-access-in-nigeria/Wed, 13 May 2026 03:32:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fcmb-partners-pool-188m-to-expand-renewable-energy-access-in-nigeria/ Speaking at the 28th Chartered Institute of Taxation of Nigeria’s (CITN’s)  Annual Tax Conference, in Abuja, Tope Fasua who is the Special Adviser on Economic Affairs to  President Bola Tinubu also said that anybody earning N1,000,000 and below per annum had been made to be tax-free, to walk away without taxation in Nigeria. Unfortunately, how]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/new-tax-regime-fg-plans-to-reduce-cit-from-30-to-25-says-shettima/Wed, 13 May 2026 03:23:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/new-tax-regime-fg-plans-to-reduce-cit-from-30-to-25-says-shettima/ The Director-General of the Nigeria Civil Aviation Authority (NCAA), Capt. Chris Najomo, has  defended Air Peace against allegations that the airline abandoned passengers in London without accommodation following a flight disruption caused by a bird strike.
Speaking to journalists in Lagos on Tuesday, the NCAA boss dismissed viral claims that passengers were “stranded” in the United Kingdom, insisting that the airline acted respons]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/air-peace-didnt-abandon-passengers-in-london-najomo-ncaa-boss/Wed, 13 May 2026 03:18:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/air-peace-didnt-abandon-passengers-in-london-najomo-ncaa-boss/ Speaking at the Nigeria–Germany Business Day in Lagos, themed “Germany and Nigeria: Cooperating for Development and Business Promotion,” Bagudu said recent policy shifts have created clearer macroeco]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/bagudu-woos-german-investors-says-fgs-reforms-unlocking-new-growth-trajectory-for-nigeria/Wed, 13 May 2026 03:16:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/bagudu-woos-german-investors-says-fgs-reforms-unlocking-new-growth-trajectory-for-nigeria/ The Summit, themed “Africa–France Partnerships for Innovation and Growth,” convened Heads of State, policymakers, investors, entrepreneurs, and business leaders from across Africa and Europe to explore sustainable pat]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/uba-group-backs-africas-growth-agenda-at-africa-forward-summit-2026/Wed, 13 May 2026 03:15:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/uba-group-backs-africas-growth-agenda-at-africa-forward-summit-2026/ Analysis from the audited financial statements for the year ended December 31, 2025, reveals that the bank delivered robust results across key financial metrics, including Gross Earnings, which stood at N1.5 trillion, up from N1,04 trillion reported]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fidelity-banks-earnings-rise-by-45-shareholders-funds-surpass-n1trn/Wed, 13 May 2026 03:14:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fidelity-banks-earnings-rise-by-45-shareholders-funds-surpass-n1trn/ With Nigeria’s housing deficit worsening to frightening levels, the federal government has announced an intervention, saying it will make at least 15,000 housing units available within the next three months as part of urgent efforts to address the horror.
Minister of Housing and Urban Development, Muttaka Rabe Darma, made the announcement at a housing summit in Abuja yesterday. He said the planned delivery would significantly expand access to shelter, with project]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/60000-families-to-benefit-as-fg-targets-15000-houses-in-3-months/Wed, 13 May 2026 03:12:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/60000-families-to-benefit-as-fg-targets-15000-houses-in-3-months/ The Commission disclosed this in a statement signed by its Head of Corporate Communications Unit, Dr. Kayode Adegoke, on Monday. According to NIMC, the new digital customer support channels were introduced as part]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nimc-launches-whatsapp-live-chat-support-for-nin-enquiries/Wed, 13 May 2026 03:08:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nimc-launches-whatsapp-live-chat-support-for-nin-enquiries/ The two-day summit, scheduled for June 8 and 9, 2026 at Eko Hotels and Suites, Victoria Island, is being organised in partnership with the Commonwealth Enterprise and Investm]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-targets-n4trn-inflows-as-global-investors-commonwealth-leaders-converge-for-invest-lagos-30/Wed, 13 May 2026 03:07:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-targets-n4trn-inflows-as-global-investors-commonwealth-leaders-converge-for-invest-lagos-30/  
From Adanna Nnamani, Abuja and Henry Uche 
For decades, Nigeria’s insurance industry has operated under a cloud of suspicion.
It is seen by many citizens as a system eager to collect premiums but reluctant to honour claims when disasters strike.The reluctance to procure insurance has left penetration at less than 1 per cent.
From road accidents and fire outbreaks to business losses and life insurance settlements, stories of del]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/beyond-premiums-nigerias-insurance-sector-battles-for-public-confidence/Wed, 13 May 2026 03:04:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/beyond-premiums-nigerias-insurance-sector-battles-for-public-confidence/ By Steve Agbota                                   styvenchy@yahoo.com
 
Many Nigerian seafarers are facing an uncertain future following a United States visa clampdown that has severely disrupted their access to international shipping jobs and training opportunities abroad.
Consequently, industry stakeholders say the restrictive US vi]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerian-seafarers-stranded-over-us-visa-clampdown/Wed, 13 May 2026 02:59:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerian-seafarers-stranded-over-us-visa-clampdown/  
In a major step towards strengthening operational efficiency and enhancing trade facilitation, the Managing Director of Port and Terminal Multi-Services Limited (PTML), Mr Ascanio Russo, has officially handed over a new fully furnished office complex with modern Information and Communications Technology (ICT) facilities to the Nigeria Customs Service at the terminal, located within the Tin Can Island Port Complex, Lagos.
The handover cere]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ptml-equips-customs-with-digital-office-facility/Wed, 13 May 2026 02:56:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ptml-equips-customs-with-digital-office-facility/ By Chinenye Anuforochinenyeanuforo@gmail.com 
 
Internet connectivity has become a necessity in Nigeria and across the globe.
That explains why Nigerians spent about N3.33 trillion on mobile internet data and smartphones between January and March 2026,  despite rising inflation, economic strangulation and weakening purchasing power.
The amount, mined from industry data released by the Nigerian Communications Commission (NCC), accen]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerians-spend-n333trn-on-internet-data-amid-hardship/Wed, 13 May 2026 02:53:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerians-spend-n333trn-on-internet-data-amid-hardship/  
Afri Invoice Nigeria Ltd has secured official accreditation from the Nigeria Revenue Service (NRS), formerly the Federal Inland Revenue Service (FIRS), as a system integrator for Nigeria’s mandatory electronic invoicing platform under the Merchant Buyer Solution (MBS).
The accreditation positions the company among the select organisations authorised to connect businesses directly to the NRS real-time invoicing infrastructure for secure and compliant digital tax r]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/afri-invoice-secures-nrs-nod-for-e-invoicing-integration/Wed, 13 May 2026 02:51:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/afri-invoice-secures-nrs-nod-for-e-invoicing-integration/ Nigeria’s corporate sector is rapidly embracing artificial intelligence (AI), with a new report showing that 74.1 per cent of digitally enabled firms in Lagos, Abuja and Rivers are already deploying AI tools to automate operations, improve productivity and support business growth.
The report, titled AI Adoption in Nigeria and released by Wow Effect Communications, revealed that AI usage is moving beyond experimentation into mainstream operational deployment across busin]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ai-adoption-soars-hits-74-in-lagos-abuja-rivers-report/Wed, 13 May 2026 02:49:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ai-adoption-soars-hits-74-in-lagos-abuja-rivers-report/ Nigeria’s gaming industry is poised for a major technological transformation as the Enugu Gaming Conference (EGC) 2026 places financial technology at the centre of discussions shaping the sector’s future.
The conference, scheduled for July 29–30, 2026, in Enugu, is expected to bring together regulators, gaming operators, investors, and technology innovators to examine how fintech solutions are redefining payments, compliance, and customer experience in]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fintech-drives-gaming-industry-growth/Wed, 13 May 2026 02:47:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fintech-drives-gaming-industry-growth/ The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has declared that the nation can no longer rely mainly on borrowing to finance national development, stressing the need for a sustainable fiscal system driven by effective tax reforms.
Oyedele stated this on Tuesday in Abuja while delivering the lead plenary address at the 28th Annual Tax Conference of the Chartered Institute of Taxation of Nigeria (CITN), themed “Tax Reforms and Gl]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-cannot-continue-financing-development-through-borrowing-oyedele/Tue, 12 May 2026 21:23:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-cannot-continue-financing-development-through-borrowing-oyedele/ No fewer than 1,000 delegates from Commonwealth nations and other global investment communities are expected in Lagos for the third edition of the Invest Lagos Summit, as the state government intensifies efforts to position the state as Africa’s leading gateway for business and investment.
The two-day summit, themed “Lagos: Business Gateway to Africa”, is scheduled to be held on June 8 and 9, at Eko Hotels & Suites.
Speaking at a press conference on Tuesd]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-targets-global-investors-as-1000-commonwealth-delegates-set-for-investment-summit/Tue, 12 May 2026 19:02:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-targets-global-investors-as-1000-commonwealth-delegates-set-for-investment-summit/https://www.newslocker.com/en-ng/news/nigeria-economy-news/nesg-raises-fresh-concern-over-nigerias-debt-burden/Tue, 12 May 2026 07:48:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nesg-raises-fresh-concern-over-nigerias-debt-burden/ The bank, in a statement, said the milestone underscores its continued drive to enhance user experience and expand access to innovative financial services through digital channels.
Launched in 2017 as Africa’s first fully digital bank, ALAT was designed to address challenges associated with conventional banking by providing a seamless platform]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/wema-bank-restates-digital-banking-leadership-as-alat-clocks-9/Tue, 12 May 2026 06:39:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/wema-bank-restates-digital-banking-leadership-as-alat-clocks-9/ Chairman of Barkin-Ladi Local Government Area of Plateau State, Stephen Gyang Pwajok, has revealed that suspected Fulani bandits seized a government secondary school closed 10 years ago, following relentless attacks and are occupying the structure.
He said the suspected terrorists had also sacked the district head of Gwol from his ancestral abode while rendering the poultry farm of THE late Colonel Dungs down, seizing and converting it to their training ground.
Pwajok made]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/bandits-take-over-govt-school-plateau-lg-boss/Tue, 12 May 2026 04:13:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/bandits-take-over-govt-school-plateau-lg-boss/ President Bola Tinubu has lauded the contributions of the leader of the pan Yoruba sociocultural and political organization, Afenifere, Chief Reuben Fasoranti to the growth and development of the country’s democracy.
The President, who spoke at the centenary birthday of the frontline Yoruba leader, said the dedication and commitment of Fasoranti to the growth of the country’s democracy cannot be quantified.
Represented by Vice President Kashim Shettim]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/tinubu-aiyedatiwa-mimiko-abiodun-others-hail-fasoranti-at-100/Tue, 12 May 2026 04:11:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/tinubu-aiyedatiwa-mimiko-abiodun-others-hail-fasoranti-at-100/ Despite persistent volatility in the global oil market triggered by shifting geopolitical tensions and fluctuating ceasefire negotiations involving the United States and the Middle East, the naira strengthened by 4.42 per cent in the first four months of 2026.
This showed Nigeria’s intensified efforts to stabilise the local currency amid mounting external pressures.
The currency appreciated by 0.86 per cent month-on-month (m/m) at the official window to close at N1,374]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/inside-high-stakes-fight-to-shield-naira-from-oil-market-shocks/Tue, 12 May 2026 04:00:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/inside-high-stakes-fight-to-shield-naira-from-oil-market-shocks/  
As part of efforts to promote SMEs and strengthen support for operators in the informal sector, Unity Bank has continued to empower small-scale traders and shop owners across Nigeria through its initiative called Shop Collateralised Facility, SHOCOF.
SHOCOF is an innovative loan product, and Unity Bank has disbursed over N500 million to beneficiaries, significantly improving access to financing, and further driving financial inclusion.Originally introduced as a targe]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/unity-bank-distributes-n500m-via-shocof-to-empower-businesses/Tue, 12 May 2026 03:58:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/unity-bank-distributes-n500m-via-shocof-to-empower-businesses/  
Nigeria’s foreign exchange market recorded a sharp slowdown in inflows in April as reduced interventions by the Central Bank of Nigeria (CBN) and weaker foreign direct investment inflows combined with growing geopolitical uncertainties to pressure market liquidity, highlighting the continued fragility of capital flows into Africa’s largest economy.
According to data released by the FMDQ Group, total FX inflows fell by 30.1 per cent month-on-month (m/m) to]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fx-supply-weakens-as-april-inflows-dip-to-286bn/Tue, 12 May 2026 03:58:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fx-supply-weakens-as-april-inflows-dip-to-286bn/ For decades, Nigeria’s agricultural sector has rested heavily on the shoulders of women, yet many of them remain shut out of the very resources needed to thrive. From cultural restrictions on land ownership to limited access to farming inputs and financing, women farmers have long operated at the margins of a sector they help sustain.
Across several communities, tradition still dictates that women cannot inherit or own farmland outright. In cases where they are allowed]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/tackling-gender-inequality-in-agriculture-to-achieve-food-security/Tue, 12 May 2026 03:52:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/tackling-gender-inequality-in-agriculture-to-achieve-food-security/ To strengthen food security, economic diversification and sustainable livelihoods across the country, the Federal Ministry of Livestock Development has commenced a strategic baseline data collection, monitoring and evidence-based policy planning.
The study is expected to provide a reliable foundation for the ministry’s Monitoring]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-starts-nationwide-livestock-audit/Tue, 12 May 2026 03:50:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-starts-nationwide-livestock-audit/ To strengthen Nigeria’s dairy sector and improve local milk production, the Federal Ministry of Livestock Development has trained 100 small-scale dairy farmers in Ibadan, the Oyo State capital. This was disclosed in a statement signed by the ministry’s Deputy Director of Information and Public Relations, Henrietta Okokon, yesterday.
The statement said the training focused on equipping participants with practical knowledge on dairy farming best practices, imp]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/targets-improved-dairy-production-with-farmers-training-in-oyo/Tue, 12 May 2026 03:47:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/targets-improved-dairy-production-with-farmers-training-in-oyo/ At the 2nd Annual Interactive Session between the CBN Financial Regulation Advisory Council of Experts (FRACE) and Advisory Committees of Experts (ACE) of Non-Interest Financial Institutions held in Ab]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-frace-move-to-safeguard-non-interest-banking-sector-amid-new-risks/Tue, 12 May 2026 03:09:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-frace-move-to-safeguard-non-interest-banking-sector-amid-new-risks/ In its determination to boost legitimate trade, the Nigerian Shippers’ Council (NSC) has saved over N348.8 million for port users and resolved 19 complaints in the first quarter of 2026.
According to its sectoral data report from the Council’s quarterly newsletter, which covered January to March 2026, the agency’s continued intervention in disputes within the maritime sector is aimed at reducing trade frictions and protecting shippers from unfair practices.
A br]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/shippers-council-saves-n3488m-for-port-users-settles-19-disputes-in-q1/Tue, 12 May 2026 03:08:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/shippers-council-saves-n3488m-for-port-users-settles-19-disputes-in-q1/ He made the pledge on Monday while speaking with construction workers at the Julius Berger project site in Osubi, Okpe Local Government Area, stressing that infrastructure development remains central to his government’s r]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/oborevwori-promises-more-projects-for-julius-berger/Tue, 12 May 2026 03:07:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/oborevwori-promises-more-projects-for-julius-berger/ The meeting, which brought together top global energy, fertiliser and renewable energy executives, explored fresh opportunities in sectors seen as critical to Africa’s next phase of growth—power, renewabl]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/dangote-group-norges-bank-hold-investment-talks-over-19trn-sovereign-wealth-fund/Tue, 12 May 2026 03:05:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/dangote-group-norges-bank-hold-investment-talks-over-19trn-sovereign-wealth-fund/ Data reviewed shows that Nigerian banks reduced the amount of money they placed with the Central Bank of Nigeria through its Standing Deposit Facility in April. On average, they kep]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/banks-withdraw-n176trn-from-cbn-keep-more-cash-ahead-of-elections/Tue, 12 May 2026 03:03:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/banks-withdraw-n176trn-from-cbn-keep-more-cash-ahead-of-elections/ The initiative comes against the backdrop of Africa carrying about a quarter of the global disease burden while importing nearly 97 per cent of its pharmaceutical products, a dependence that was further exposed during the COVID-19 pandemic. In Nigeria,]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/altbank-deepens-funding-for-local-drug-production/Tue, 12 May 2026 02:56:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/altbank-deepens-funding-for-local-drug-production/ In its latest report titled; “Debt pressure persists beneath surface stability: DBI signals elevated fiscal strain in 2025,” the policy think tank said the country’s apparent fiscal gains mask de]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-still-in-high-risk-debt-zone-despite-fiscal-gains-nesg/Tue, 12 May 2026 02:54:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-still-in-high-risk-debt-zone-despite-fiscal-gains-nesg/ With the theme, “Beyond Reforms: Measuring Policy Impact,” the conference is scheduled to hold in Abuja from June 8 to June 10, 2026 and is expected to bring together legal practitioners,]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nba-sbl-to-drive-conversations-on-policy-impact-investment-growth/Tue, 12 May 2026 02:05:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nba-sbl-to-drive-conversations-on-policy-impact-investment-growth/ A Delta Airlines flight bound for Lagos was forced to return to Atlanta after spending nearly eight hours in the air, leaving Nigerian passengers stranded and without clear communication from the airline about alternative arrangements.
Delta flight DL54, operated by an Airbus A330-200 (registration N854W), departed the Hartsfield-Jackson Atlanta International Airport at 5:42 pm Eastern Daylight Time (EDT) on Saturday, May 9 and according to flight tracking data reported by Airli]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerian-passengers-stranded-as-delta-flight-returns-to-us-after-8-hours-mid-air/Mon, 11 May 2026 22:28:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerian-passengers-stranded-as-delta-flight-returns-to-us-after-8-hours-mid-air/ The National Association of Aircraft Pilots and Engineers (NAAPE) has said that the persistent jet A1 crisis is a threat the health of its members, the aviation sector and the nation’s economy.
 
In a statement by NAAPE’s National President, Capt. Bunmi Gindeh, the body said the ongoing aviation supply crisis is have resulted in’significant extensions of crew duty time beyond planned parameters’ and that for pilots and engineers alike, this translate]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/jet-a1-crisis-threat-to-aviation-sector-nigerias-economy-naape-warns/Mon, 11 May 2026 22:13:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/jet-a1-crisis-threat-to-aviation-sector-nigerias-economy-naape-warns/https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-moves-to-clear-apapa-tin-can-port-corridors/Mon, 11 May 2026 08:15:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-moves-to-clear-apapa-tin-can-port-corridors/https://www.newslocker.com/en-ng/news/nigeria-economy-news/man-urges-lagos-to-simplify-tax-system-to-boost-manufacturing/Mon, 11 May 2026 08:11:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/man-urges-lagos-to-simplify-tax-system-to-boost-manufacturing/https://www.newslocker.com/en-ng/news/nigeria-economy-news/top-manufacturing-companies-incur-n196trn-debt-in-2025/Mon, 11 May 2026 08:06:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/top-manufacturing-companies-incur-n196trn-debt-in-2025/https://www.newslocker.com/en-ng/news/nigeria-economy-news/customs-modernisation-project-to-upscale-ease-of-doing-business-adeniyi/Mon, 11 May 2026 07:54:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/customs-modernisation-project-to-upscale-ease-of-doing-business-adeniyi/https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-oil-firms-export-80-of-crude-output-despite-local-refining-demand/Mon, 11 May 2026 07:44:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-oil-firms-export-80-of-crude-output-despite-local-refining-demand/https://www.newslocker.com/en-ng/news/nigeria-economy-news/breweries-defy-economic-hardship-record-sharp-rise-in-revenue/Mon, 11 May 2026 07:40:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/breweries-defy-economic-hardship-record-sharp-rise-in-revenue/https://www.newslocker.com/en-ng/news/nigeria-economy-news/banking-industrial-stocks-attract-investors-as-market-rally-continues/Mon, 11 May 2026 07:32:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/banking-industrial-stocks-attract-investors-as-market-rally-continues/ The Federal Executive Council (FEC) has approved three major Public-Private Partnership (PPP) projects aimed at strengthening Nigeria’s infrastructure base and accelerating economic growth across key sectors.
The approvals cover the development of a Smart National Transport Data Bank under the Nigerian Institute of Transport Technology (NITT), alongside two Independent Power Projects (IPPs) at the Onne Port Complex in Rivers State and the Apapa Port Complex in Lagos.
T]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fec-approves-transport-data-bank-2-power-projects-to-fix-infrastructure-deficit/Mon, 11 May 2026 04:15:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fec-approves-transport-data-bank-2-power-projects-to-fix-infrastructure-deficit/ • Experts urge softer regulatory rules
 
By Chinwendu ObienyiAmid rising economic uncertainty, persistently high interest rates and stricter regulatory conditions, Nigeria’s biggest banks scaled back lending activities in the first quarter of 2026.
This reflected a more cautious approach to credit expansion across the banking industry.
An analysis of the Q1 2026 financial statements of five leading banks, Access Bank, First Ho]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/top-banks-slash-loans-by-25-amid-rising-risks/Mon, 11 May 2026 03:19:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/top-banks-slash-loans-by-25-amid-rising-risks/ According to the latest “Shipping Position” released by the Nigerian Ports Authority, the vessels are currently waiting to discharge products at the Lekki Deep Sea Port, Apapa Port and Tin-Can Island Port.
The agency disclosed that the ships]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-ports-receive-12-vessels-laden-with-fuel-food-cargoes/Mon, 11 May 2026 03:11:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-ports-receive-12-vessels-laden-with-fuel-food-cargoes/ The vision is anchored on a partnership between the Infrastructure Concession Regulatory Commission (ICRC) and the Federal Ministry of Art, Culture, Tourism and the Creative Economy, which has opened discussions on a]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-plans-tourism-creative-sector-growth-with-7-star-hotel-other-ppp-projects/Mon, 11 May 2026 03:09:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-plans-tourism-creative-sector-growth-with-7-star-hotel-other-ppp-projects/  
By Chinenye Anuforo
Worsening telecom services being experienced by subscribers across the country may not end soon as the operators are currently battling rising vandalism, diesel theft, fibre cuts and other challenges threatening Nigeria’s N3 trillion communication assets.
The development is swelling the cost of maintaining network services across the country.
As attacks on telecom sites intensify,]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/escalating-vandalism-diesel-theft-threaten-n3trn-telecom-assets/Mon, 11 May 2026 03:06:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/escalating-vandalism-diesel-theft-threaten-n3trn-telecom-assets/  
From Adanna Nnamani, AbujaThe Central Bank of Nigeria has intensified consultations with state governments ahead of Nigeria’s planned transition to an inflation-targeting monetary policy regime, warning that fiscal indiscipline at the sub-national level could frustrate efforts to tame rising prices and stabilise the economy.
Speaking at an engagement session with sub-national stakeholders facilita]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-seeks-states-backing-as-inflation-battle-gets-fiercer/Mon, 11 May 2026 03:04:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-seeks-states-backing-as-inflation-battle-gets-fiercer/ The Nigeria Employers’ Consultative Association (NECA), yesterday, expressed deep concern over the latest Memorandum of Understanding (MOU) signed between the Nigerian National Petroleum Company Limited (NNPC) and Chinese firms for the “restart, completion, and expansion” of the Port Harcourt and Warri refineries.
While the nation urgently requires functional refineries to drive industrial growth and energy security, NECA insists that Nigerians deserve far mo]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/neca-to-nnpc-enough-of-paper-promises-on-refineries/Mon, 11 May 2026 03:02:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/neca-to-nnpc-enough-of-paper-promises-on-refineries/ Although the funding performance remained significantly lower than figures recorded a year earlier, the latest deals indicate that investors are still willing to back Nigerian startups offering solutions in financial technology, healthcare, agriculture and waste mana]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerian-startups-seal-4m-deals-despite-global-funding-crunch/Mon, 11 May 2026 03:00:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerian-startups-seal-4m-deals-despite-global-funding-crunch/ Nigeria’s equities market added about N1.1 trillion in investor value last week, driven largely by renewed demand for industrial and mid-cap stocks despite profit-taking in some heavyweight counters.
The benchmark All-Share Index of the Nigerian Exchange Limited advanced by 1.03 per cent week-on-week (WoW) to close at 244,775.83 points from 242,277.81 points recorded the previous week, while market capitalisation rose to N157.09 trillion. The market’s year-to-date]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/industrial-stocks-power-equity-markets-n11trn-gain/Mon, 11 May 2026 02:53:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/industrial-stocks-power-equity-markets-n11trn-gain/ Ecobank Transnational Incorporated (ETI) is seeking to raise fresh funds from international debt capital markets through the issuance of Fixed Rate Reset Tier 2 Nature Notes, with proceeds earmarked to retire an existing $350 million bond obligation.
The pan-African lender disclosed this to the Nigerian Exchange Limited (NGX) and the investing public on May 7, 2026, that the new notes would be issued under the United States Securities and Exchange Commission Rule 144A and Reg]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ecobank-to-refinance-350m-bond-with-new-tier-2-notes/Mon, 11 May 2026 02:52:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ecobank-to-refinance-350m-bond-with-new-tier-2-notes/  
Zichis Agro Allied Industries Plc has secured shareholder approval to increase its share capital to 2 billion ordinary shares of 50 kobo each, raising the company’s total share capital to N1 billion, pending regulatory clearance from the Nigerian Exchange Limited (NGX).The resolution was among 16 passed at the company’s 3rd Annual General Meeting (AGM). The company said all resolutions were passed by the requisite majority. The capital expansion is directly]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/zichis-agro-gets-shareholders-nod-to-double-share-capital-to-2bn-units/Mon, 11 May 2026 02:51:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/zichis-agro-gets-shareholders-nod-to-double-share-capital-to-2bn-units/https://www.newslocker.com/en-ng/news/nigeria-economy-news/moniepoint-maintains-strong-position-in-nigerias-agency-banking/Mon, 11 May 2026 02:50:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/moniepoint-maintains-strong-position-in-nigerias-agency-banking/  
JMG Limited, an integrated electromechanical solutions company, has strengthened its market position with a wave of infrastructure and engineering projects delivered in the first quarter of 2026, spanning industrial manufacturing, retail operations, and logistics.
The company said the projects reflect a deliberate strategy to build connected systems that improve efficiency, reliability and scale across critical sectors of the economy.
In the industrial space, JMG Indus]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/jmg-deepens-industrial-retail-logistics-expansion-in-q1/Mon, 11 May 2026 02:49:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/jmg-deepens-industrial-retail-logistics-expansion-in-q1/ The Society of Petroleum Engineers (SPE), Nigeria Council, has said indigenous oil and gas companies in Nigeria are reopening dormant wells and ramping up production from assets acquired from international oil companies (IOCs) to boost crude oil output.
Its Chairman, Mr. Francis Nwaochie, stated this on the sideline of the Offshore Technology Conference (OTC) which ended at the weekend in Houston, Texas.
Nwaochie said indigenous operators were already taking advantage]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/local-oil-firms-reviving-idle-wells-to-boost-oil-production-spe/Mon, 11 May 2026 02:47:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/local-oil-firms-reviving-idle-wells-to-boost-oil-production-spe/ The Nigerian Institute of Petroleum and Gas Engineers (NIPetGE) has unveiled a strategic reform agenda for Nigeria’s oil and gas industry.
President-elect of NIPetGE, Prisca Kanebi, stated this during a visit by the institute’s delegation to the Ministry of Petroleum Resources in Abuja, recently.
According to her, the reforms included proposals for artificial intelligence driven energy systems, carbon trading mechanisms, and expanded upstream decarbonisation targe]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/institute-pushes-ai-adoption-carbon-market-reforms-in-oil-sector/Mon, 11 May 2026 02:39:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/institute-pushes-ai-adoption-carbon-market-reforms-in-oil-sector/ To deepen electricity market reforms and expand reliable power supply across the state, the Lagos state government has Issued 14 power generation and metering licences to private firms
The licences were presented by the Lagos State Electricity Regulatory Commission (LASERC) during its maiden Stakeholders’ Engagement Forum held in Lagos.
LASREC used the forum to reinforce the state’s push to build a structured and fully regulated electricity market driven by privat]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-issues-14-power-generation-metering-licenses-to-private-firms/Mon, 11 May 2026 02:37:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-issues-14-power-generation-metering-licenses-to-private-firms/  
The Nigeria Electricity Management Services Agency and Niger Delta Power Holding Company have pledged deeper collaboration to ensure that materials, equipment and engineering installations across Nigeria’s electricity value chain comply with global standards and international best practices.
The renewed commitment was made during a recent courtesy visit by the Managing Director/Chief Executive Officer of NEMSA and Chief Electrical Inspector of the Federation, Mr.]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nemsa-ndphc-strengthen-alliance-to-bolster-power-infrastructure/Mon, 11 May 2026 02:35:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nemsa-ndphc-strengthen-alliance-to-bolster-power-infrastructure/ The Acting Managing Director of 11 Plc, Mr. Osagie Ogedegbe, has outlined a growth blueprint for the company.
Ogedegbe stated this in his maiden address at the 48th Annual General Meeting of 11 Plc held in Abuja.
He added that as part of broader growth plans, the company will focus on deeper diversification to reposition the downstream energy player for sustained competitiveness and long-term value creation.
The 11 Plc boss equally pledged aggressive market expansion, stronge]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/11-plc-set-for-diversification-expansion/Mon, 11 May 2026 02:32:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/11-plc-set-for-diversification-expansion/ oritokeoyee@gmail.com
The Nigeria Labour Congress (NLC) has issued a passionate call to the c to take urgent action against rising xenophobic violence in South Africa, warning that attacks on migrant African workers threaten the unity and future of the continent’s working class.
In a strongly worded letter]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/attack-on-african-workers-nlc-urges-cosatu-to-end-xenophobia-in-south-africa/Mon, 11 May 2026 02:29:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/attack-on-african-workers-nlc-urges-cosatu-to-end-xenophobia-in-south-africa/ Last week at a meeting in Accra, the African group of negotiators (AGN), the bloc that coordinates climate negotiating positions on behalf of 54 African countries under the United Nations Framework Convention on Climate Change (UNFCCC), agreed on a work plan to establish a labour liaison mechanism ahead of the 31st conference of the parties (COP 31).
The initiative was developed with IndustriALL Sub-Saharan Africa (SSA) regional office and the Sub-Saharan Africa energy netwo]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/african-trade-unions-seek-a-seat-at-the-climate-table/Mon, 11 May 2026 02:27:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/african-trade-unions-seek-a-seat-at-the-climate-table/ The International Labour Organization (ILO) and Nigeria’s Rural Access and Agricultural Marketing Project (RAAMP) have signed an agreement to expand employment-intensive rural road maintenance systems expected to generate more than four million workdays while improving rural connectivity, market access and livelihoods across 12 Nigerian states.
Under the agreement, the ILO will provide technical assistance to support the implementation of approximately 2,400 kilometres]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/rural-roads-project-to-create-millions-of-workdays-in-nigeria/Mon, 11 May 2026 02:26:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/rural-roads-project-to-create-millions-of-workdays-in-nigeria/  
From Bimbola Oyesola
 
The Nigeria Social Insurance Trust Fund (NSITF) has assured the Lagos State Government of its support to provide all the required technical and operational expertise for the seamless implementation of the Employees Compensation Scheme (ECS) in the state.
Managing Director of Trust, Barr. Oluwaseun Falaye, speaking at a sensitisation workshop for Employee Relations Officers for Lagos State MDAs in Lagos recently tha]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nsitf-assures-lagos-support-for-effective-ecs-implementation/Mon, 11 May 2026 02:24:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nsitf-assures-lagos-support-for-effective-ecs-implementation/  
Stellantis has explained that its sustainability-driven Circular Economy is a key lever for the company to extend the life of vehicles and parts, reduce waste, and optimise the use of resources across the automotive value chain.In the Middle East and Africa (MEA), this strategy is deployed through SUSTAINera, Stellantis’ dedicated Circular Economy business unit, which brings remanufacturing, repairing, reuse and recycling solutions to customers and professionals at]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/stellantis-boosts-circular-economy-in-middle-east-africa-with-third-vehicle-dismantling-centre-in-morocco/Mon, 11 May 2026 02:21:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/stellantis-boosts-circular-economy-in-middle-east-africa-with-third-vehicle-dismantling-centre-in-morocco/  
 
The Lagos State Government’s proposed On-Street Parking Scheme, expected to commence before the end of 2026, will operate through a fully automated payment system, with all payments made directly into government accounts.
The scheme will be entirely cashless and will run on a pay-by-plate basis.
This was disclosed to a television station by the General Manager of the Lagos State Parking Authority (LASPA), Mrs. Adebisi Adelabu.
Mrs. Adelabu explained that exte]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/automated-payment-system-to-drive-proposed-lagos-on-street-parking-scheme/Mon, 11 May 2026 02:19:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/automated-payment-system-to-drive-proposed-lagos-on-street-parking-scheme/  
The Managing Director of CFAO Mobility Nigeria, Mr Denis Martin, has reaffirmed the company’s commitment to growth, innovation, sustainability, and customer satisfaction amid evolving market conditions. He made this known during the 2026 CFAO Mobility Open Day held at Harbour Point Event Centre, Victoria Island, Lagos.
The Open Day, which was attended by auto enthusiasts and industry stakeholders, featured the various brands distributed by CFAO Mobility in Nigeria,]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/cfao-mobility-targets-growth-innovation-at-2026-open-day-in-lagos-gives-out-brand-new-byd-seagull-to-lucky-guest/Mon, 11 May 2026 02:17:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cfao-mobility-targets-growth-innovation-at-2026-open-day-in-lagos-gives-out-brand-new-byd-seagull-to-lucky-guest/  
Coscharis Motors Plc, one of the prominent automotive companies and trusted representative of major international auto brands in Nigeria, will participate  in the West Africa Auto Show (WAAS) 2026, which opens at the Landmark Event Centre, Victoria Island Annex, Lagos, tomorrow (Tuesday) morningCoscharis Motors will be participating through its Auto Care / Consumer Products Division at the fair which  will be held from May 12  to 14, 2026.
The company said]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/coscharis-motors-storms-waas-2026-with-locally-produced-abro-cello-tapes/Mon, 11 May 2026 02:11:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/coscharis-motors-storms-waas-2026-with-locally-produced-abro-cello-tapes/ In a remarkable celebration of legacy, innovation, and corporate heritage, ABC Transport Plc officially unveiled its Historic and Archive Centre on Thursday, April 30, 2026, at the company’s Corporate Head Office in Owerri, Imo State.
The launch, which coincided with the birthday celebration of the company’s Founder, Mr. Frank Nneji (OON), marked another historic milestone in the 33-year journey of one of Nigeria’s most innovative and diversified transport and]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/abc-transport-inaugurates-historic-amp-archive-centre-to-preserve-33-years-of-innovation-achievements/Mon, 11 May 2026 02:08:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/abc-transport-inaugurates-historic-amp-archive-centre-to-preserve-33-years-of-innovation-achievements/  
One of the simplest – and most important – things you can do to keep your tyres in good shape is to make sure that they are correctly inflated. Failure to maintain correct tyre pressures may result in fast and uneven treadwear, improper vehicle handling, and excessive build-up, resulting in tyre failure.
Regular tyre pressure checks
You should check your tyre’s pressure at least once a month, before each trip, and each morning you drive during a trip. Id]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/proper-tyre-inflation-simple-key-to-motoring-safety-longer-tyre-life/Mon, 11 May 2026 02:02:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/proper-tyre-inflation-simple-key-to-motoring-safety-longer-tyre-life/  
The Federal Government has issued a strong warning to telecommunications operators in the country, insisting that Nigerians must begin to experience noticeable improvements in service quality following recent reforms introduced to stabilise the sector.
 
The Minister of Communications, Innovation and Digital Economy, Bosun Tijani, gave the charge in a statement on telecom service quality released in Abuja over the weekend,
 
He said operators now have]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-gives-telecom-operators-ultimatum-over-poor-service-quality/Sun, 10 May 2026 22:47:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-gives-telecom-operators-ultimatum-over-poor-service-quality/ The Central Bank of Nigeria (CBN) has intensified efforts to strengthen coordination with sub-national governments as part of moves to transition the country to a new inflation-targeting monetary policy framework aimed at ensuring price stability and reducing macroeconomic uncertainty.
Speaking during an engagement with state governments facilitated through the Nigeria Governors’ Forum Secretariat in Abuja, the Deputy Governor in charge of Economic Policy Directo]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-states-partner-on-new-inflation-targeting-regime/Sun, 10 May 2026 22:07:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-states-partner-on-new-inflation-targeting-regime/ Nigeria’s seaports recorded a strong start to 2026, with bigger ships, rising export activities and improved cargo movement driving growth across the maritime sector in the first quarter of the year.
Fresh operational figures released by the Nigerian Ports Authority (NPA) showed that Gross Registered Tonnage (GRT), a major indicator used to measure vessel carrying capacity, climbed by 19.5 per cent to 46.75 million in Q1 2026.
The develop]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/q1-npa-grows-cargo-volume-to-3238mt-vehicle-traffic-jumps-67/Sun, 10 May 2026 19:30:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/q1-npa-grows-cargo-volume-to-3238mt-vehicle-traffic-jumps-67/ The pension fund administrator grew gross revenue by 50.4 percent to N42.4 billion in the 2025 financial year from N28.2 billion recorded in 2024, while profit after tax rose by 48 per cent to N16.1 billion from N10.9 billion in the previous year.
A]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/access-arm-pensions-posts-n424bn-revenue-n161bn-profit-pays-n2-dividend/Sun, 10 May 2026 19:07:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/access-arm-pensions-posts-n424bn-revenue-n161bn-profit-pays-n2-dividend/https://www.newslocker.com/en-ng/news/nigeria-economy-news/npa-cargo-throughput-hits-3238m-tons-vessel-tonnage-up-195/Sun, 10 May 2026 17:43:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/npa-cargo-throughput-hits-3238m-tons-vessel-tonnage-up-195/  
As part of efforts to address bottlenecks around fragmented supply chains, limited processing capacity, organisers of the Lagos Leather Fair (LLF) say the 2026 edition will prioritise strengthening the leather value chain and improving export readiness.
The fair, now in its ninth year, is scheduled to hold from June 27 to 28 in Lagos. The event will convene designers, manufacturers, suppliers, and investors to examine constraints across production, regulation, and acce]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-leather-fair-targets-value-chain-growth-export-readiness/Sun, 10 May 2026 04:34:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-leather-fair-targets-value-chain-growth-export-readiness/  
National Insurance Commission (NAICOM) has reaffirmed its commitment to implement immediate and coordinated enforcement measures to address persistent market abuses, including unlawful rate-cutting, misrepresentation, and the mis-selling of insurance products by unlicensed entities.
The Commission assured it will strengthen the enforcement of the Nigerian Insurance Industry Reform Act (NIIRA 2025) framework to protect Nigerian insurance consumers from unauthorized and predat]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/naicom-arian-forge-alliance-to-address-market-abuses-others/Sun, 10 May 2026 04:31:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/naicom-arian-forge-alliance-to-address-market-abuses-others/  
Maritime institutions in partnership with the Maritime Organization of West and Central Africa (MOWCA) have resolved to address multiple problems facing developments in the blue economy and maritime sectors in the West and Central Africa subregion.
 
Dr. Kevin Okonna, addressing delegates during the conference
 
This was captured in an 8-point communique issued at the end of the exchange visit by MOWCA culminating to a 4-day training workshop on the theme &ld]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/mowca-maritime-institutions-to-tackle-training-challenges/Sun, 10 May 2026 04:27:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/mowca-maritime-institutions-to-tackle-training-challenges/  
By Wale Sanyaolu, Lagos and Adanna Nnamani, Abuja
Organised labour and energy experts have expressed scepticism over the recent Memorandum of Understanding (MoU) signed between the Nigerian National Petroleum Company Limited (NNPC Ltd) and two Chinese firms aimed at reviving the Port Harcourt and Warri refineries.
While labour leaders and analysts questioned the transparency, technical competence and credibili]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/doubts-cautious-hope-over-nnpcs-chinese-refinery-deal/Sun, 10 May 2026 02:01:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/doubts-cautious-hope-over-nnpcs-chinese-refinery-deal/ Air Peace has said temporary disruption to Saturday’s scheduled Lagos–London Gatwick service was due to a faulty aircraft.
‎In a statement, the airline said that it was after the completion of passenger boarding that a routine post-boarding technical check identified a minor aircraft fault that required immediate attention.
The aircraft, it said, was promptly withdrawn from service and passengers safely disembarked.
“At Air Peace, the safety and wellbeing o]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/faulty-aircraft-cause-of-disruption-on-lagoslondon-gatwick-route-air-peace-says/Sat, 09 May 2026 20:51:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/faulty-aircraft-cause-of-disruption-on-lagoslondon-gatwick-route-air-peace-says/https://www.newslocker.com/en-ng/news/nigeria-economy-news/frc-unveils-incentives-to-grow-actuarial-workforce/Fri, 08 May 2026 08:33:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/frc-unveils-incentives-to-grow-actuarial-workforce/https://www.newslocker.com/en-ng/news/nigeria-economy-news/customs-agents-protest-marine-police-disruption-of-legitimate-trade/Fri, 08 May 2026 08:24:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/customs-agents-protest-marine-police-disruption-of-legitimate-trade/https://www.newslocker.com/en-ng/news/nigeria-economy-news/refineries-nupeng-demands-results-over-fg-china-partnership/Fri, 08 May 2026 08:11:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/refineries-nupeng-demands-results-over-fg-china-partnership/https://www.newslocker.com/en-ng/news/nigeria-economy-news/oil-price-drops-marketers-keep-pump-price-high/Fri, 08 May 2026 08:04:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/oil-price-drops-marketers-keep-pump-price-high/https://www.newslocker.com/en-ng/news/nigeria-economy-news/firstholdco-profit-rockets-722-in-q1/Fri, 08 May 2026 04:45:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/firstholdco-profit-rockets-722-in-q1/ It is on this premise that The International Monetary Fund, yesterday, warned that AI-powered cyberattacks are evolving at machine speed, increas]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/imf-fears-ai-cyber-attacks-could-cripple-global-financial-system/Fri, 08 May 2026 04:41:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/imf-fears-ai-cyber-attacks-could-cripple-global-financial-system/ Speaking during a stakeholders’ engagement with Local Government Chairmen organised by the National Social Safety Nets Coordinating Office (NASSCO) in Abuja, Bagudu stressed the need for stronger collab]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-launches-ward-level-plan-to-tackle-economic-crisis/Fri, 08 May 2026 04:39:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-launches-ward-level-plan-to-tackle-economic-crisis/ The Lagos Area Manager of NIWA, Engr. Sarat Braimah, disclosed this when members of the 2026 Dockworkers’ Day Committee of the Shipping Correspondents Association of Nigeria (SCAN) paid her a courtesy visit in Lagos.
Braimah said the ongoing safety camp]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/niwa-targets-zero-boat-accidents-through-safety-awareness/Fri, 08 May 2026 04:37:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/niwa-targets-zero-boat-accidents-through-safety-awareness/ The Managing Director of New Energy Services Company Limited (NESSCO) Mr. Usman Mohammed, has stressed the need for stronger collaboration and improved access to funding to drive the growth of indigenous oil and gas companies in Nigeria.
Speaking on the sidelines of the Offshore Technology Conference(OTC) in Houston,Texas, 2026, Mohammed lamented that financing remains one of the biggest challenges limiting the expansion of local operators despite the succes]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/collaboration-funding-critical-to-indigenous-oil-firms-growth-nessco-boss/Fri, 08 May 2026 04:37:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/collaboration-funding-critical-to-indigenous-oil-firms-growth-nessco-boss/ CGC Adeniyi made the commitment at the Customs Headquarters, Maitama, Abuja, yesterday while receiving the Vice-Chancellor of the university, Professor Hakeem Fawehinmi, who led the institution&rs]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/customs-yakubu-gowon-university-renew-alliance-to-boost-research-capacity-building/Fri, 08 May 2026 04:35:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/customs-yakubu-gowon-university-renew-alliance-to-boost-research-capacity-building/ Nigeria’s attractiveness to foreign investors is facing renewed scrutiny after fresh data showed a sharp rise in cyber vulnerabilities, with more than 280,000 accounts breached in the first quarter of 2026 alone. The worrisome development places the country 34th globally in data exposure rankings.
The figures, drawn from cybersecurity firm Surfshark, highlight growing concerns over Nigeria’s digital resilience at a time when the government is aggressively courtin]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/investment-concerns-rise-as-nigeria-logs-280000-data-breaches-in-q1/Fri, 08 May 2026 04:21:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/investment-concerns-rise-as-nigeria-logs-280000-data-breaches-in-q1/ The clarification came during the Group’s Full Year 2025 Investors and Earnings Call, where management addressed concerns from investors over the absence of dividend payments despite what it described as one of the strongest financial performanc]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/why-we-withheld-dividend-despite-n1trn-profit-access-holdings/Fri, 08 May 2026 04:20:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/why-we-withheld-dividend-despite-n1trn-profit-access-holdings/ The strong turnout translated to a bid-to-offer ratio of 3.4x, underscoring robust liquidity conditions in the financial system and sustained appetite for short-term government securities.Analysts say the level of oversubscription highlights co]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/dmo-total-subscription-for-ntbs-hit-n241trn-amid-uncertainties/Fri, 08 May 2026 04:19:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/dmo-total-subscription-for-ntbs-hit-n241trn-amid-uncertainties/ Mrs Adebajo brings over 30 years of experience across industry, renewable energy, agriculture, finance, and consulting to the FCMB Group Board.
She specialises in business transformation and turnarounds, with a strong record in strategy development, team leadership, and ESG implementation for clients in Sub-Saharan Africa and Europe.]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fcmb-group-appoints-adepeju-adebajo-director/Fri, 08 May 2026 04:18:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fcmb-group-appoints-adepeju-adebajo-director/ nwekemaduka88@gmail.com
As the 2026 rainy season peaks, Nigerians, especially those living along flood plains or flood-prone zones, are already drowning in fear.
They are picturing how they will be trapped or devastated by floods since they have been repeatedly betrayed by the government’s broken promises.
Many of them are complaining they lack good roads and drainage systems, so that when it rains, it drains.
The National Emergency Management Agency (NEMA) reported that mo]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/flooding-nigerians-brace-for-annual-devastation-blast-governments-repeated-failure-to-curb-menace/Fri, 08 May 2026 04:16:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/flooding-nigerians-brace-for-annual-devastation-blast-governments-repeated-failure-to-curb-menace/  
Lagos State Governor, Babajide Sanwo-Olu has restated his administration’s commitment to expanding access to affordable housing finance, describing the housing sector as a major catalyst for economic growth, job creation and social stability.
The governor made this known in a keynote address delivered at the 21st Annual General Meeting of Lagos Building Investment Company Plc held in Ikeja, Lagos recently.
Represented by the Lagos State Commissioner for Housing, Moru]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-pushes-broader-partnerships-to-bridge-housing-gap/Fri, 08 May 2026 04:15:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-pushes-broader-partnerships-to-bridge-housing-gap/ talktonelo@yahoo.comFor decades, Nigerian airlines have lamented a predatory operating space where high charges, taxes and levies put them at a disadvantaged position compared to their foreign competitors who enjoy greater support from their host countries.This, they said, grossly erodes their profitability and perpetually leaves them vulnerable and flying on strained wings.
The complaints have intensified in recent months, drawing the attention of internation]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/faan-airlines-iata-clash-over-suffocating-charges/Fri, 08 May 2026 04:13:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/faan-airlines-iata-clash-over-suffocating-charges/ Interswitch has entered into partnership with the Asaba Airport Company (AAC) to deploy a smart parking system, the Interswitch Parking Management Platform (PMP) at the airport.
The automated airport parking system introduces a fully automated parking and access control solution, designed to enhance airport operations efficiency and improve the overall experience for travellers, visitors, and airport personnel.
As passenger traffic and vehicular movement continue to increa]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/interswitch-deploys-smart-parking-solution-at-asaba-airport/Fri, 08 May 2026 04:12:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/interswitch-deploys-smart-parking-solution-at-asaba-airport/ Despite investing over $5.2 billion in infrastructure, Nigeria’s industrial fishing sub-sector has recorded a meagre 10 per cent of national fish demand out of 35 per cent annual capacity.
Stakeholders in the fishing trawling business lamented that the low capacity recorded means that the industry is operating far below its potential, even when it has the capacity to supply up to 35 per cent of its capacity
This is even as they told Daily Sun that Nigeria’s industrial]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-industrial-fishing-growth-stagnates-at-10-despite-52bn-investment/Fri, 08 May 2026 04:10:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-industrial-fishing-growth-stagnates-at-10-despite-52bn-investment/ In a statement issued on Wednesday by his spokesperson, Adeola A. Adelabu, the minister-designate said his remarks during his Senate screening on May 6, 2026 were misrepresented in sections of the media.
According to the statement, Tegbe never made a definitive commitm]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/tegbe-denies-3-month-power-grid-fix-promise-clarifies-reform-timeline/Fri, 08 May 2026 04:09:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/tegbe-denies-3-month-power-grid-fix-promise-clarifies-reform-timeline/ The union’s National President, Salimon Akanni Oladiti, gave the commendation in a statement on Thursday, describing the development as a critical step toward addressing long-standing inefficiencies in Nigeria’s downstream]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nupeng-hails-fg-nnpc-deal-with-chinese-firms-on-refineries-resuscitation/Fri, 08 May 2026 04:08:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nupeng-hails-fg-nnpc-deal-with-chinese-firms-on-refineries-resuscitation/ In its audited results, the financial services group said interest income surged by 24.9 per cent to N2.99 trillion, while net interest income rose strongly by 36.8 per cent to N1.92 trillion, supported by improved asset yields and repri]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/first-holdco-posts-n34trn-earnings-profit-slides-on-balance-sheet-cleanup/Fri, 08 May 2026 04:07:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/first-holdco-posts-n34trn-earnings-profit-slides-on-balance-sheet-cleanup/ The initiative recently recorded another milestone with a stop at Maverick College, alma mater of Maltina Brand Ambassador, Tomike Adeoye.
The tour comes as Maltina celebrates 50 years of nourishing generations, highlighting its focus on raising confident, happy, and well-nour]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/227000-students-impacted-as-maltina-school-tour-spreads-nationwide/Fri, 08 May 2026 04:06:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/227000-students-impacted-as-maltina-school-tour-spreads-nationwide/ President Bola Tinubu has appointed Mrs Arinola Ogbara-Banjoko as a non-executive director representing Lagos State on the board of the Nigeria Commodity Exchange (NCX), under the Federal Ministry of Industry, Trade and Investment.
The appointment, announced in a State House press release Thursday by special adviser to the president on information and strategy, Bayo Onanuga, replaces Mrs Bamidele Hussein in the role.
The appointment comes months after President]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/tinubu-appoints-ogbara-banjoko-to-nigeria-commodity-exchange-board/Thu, 07 May 2026 23:31:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/tinubu-appoints-ogbara-banjoko-to-nigeria-commodity-exchange-board/https://www.newslocker.com/en-ng/news/nigeria-economy-news/recapitalisation-15-insurers-verified9-still-under-review/Thu, 07 May 2026 19:23:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/recapitalisation-15-insurers-verified9-still-under-review/ The Managing Director of New Energy Services Company Limited (NESSCO), Mr Usman Mohammed, has stressed the need for stronger collaboration and improved access to funding to drive the growth of indigenous oil and gas companies in Nigeria.
Speaking on the sidelines of the Offshore Technology Conference (OTC) in Houston, Texas, in 2026, Mohammed lamented that financing remains one of the biggest challenges limiting the expansion of local operators despite the]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/collaboration-funding-critical-to-growth-of-indigenous-oil-firms-says-nessco-boss/Thu, 07 May 2026 13:54:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/collaboration-funding-critical-to-growth-of-indigenous-oil-firms-says-nessco-boss/ Lagos State owes a total of N1.22 trillion and $1.17 billion in domestic and external debts, respectively, emerging as the most indebted state in Nigeria.
In its Q4 2025 domestic and external debt report, the National Bureau of Statistics (NBS) said that the country’s total debt stock, comprising domestic and external debt, rose from N153.29 trillion or $103.94 billion in Q3 2025 to N159.28 trillion or $110.97 billion in Q4 2025.
The report said this represented]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-rated-most-indebted-nigerian-state-with-n122trn-domestic-debt/Thu, 07 May 2026 12:45:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-rated-most-indebted-nigerian-state-with-n122trn-domestic-debt/ A team of Akwa Ibom State Government officials said it had concluded the inspection of a 64-seater vessel constructed at the Naval Shipyard in Port Harcourt.
According to the Senior Special Assistant to Governor Umo Eno on Research and Documentation, Dr Essien Ndueso, the team, led by the Commissioner for Internal Security and Waterways, General Koko, and accompanied by the Delivery Adviser, said the passenger vessel would be ready in June.
He said the inspection team included th]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/blue-economy-akwa-ibom-inspects-64-seater-vessel-project/Thu, 07 May 2026 12:39:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/blue-economy-akwa-ibom-inspects-64-seater-vessel-project/ Vice President Kashim Shettima on Wednesday stressed the need for policy continuity and institutional strength as critical pillars for sustainable development, saying leadership must prioritise long-term impact over short-term gains.
Shettima stated this on Wednesday at the third edition of the Nasarawa Investment Summit 2026 held in Lafia, with the theme “Bold Transition: Building a Legacy for a Sustainable Future”.
He said that the true test of leadership]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nasarawa-investment-summit-reforms-without-succession-risk-failure-shettima/Thu, 07 May 2026 09:39:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nasarawa-investment-summit-reforms-without-succession-risk-failure-shettima/https://www.newslocker.com/en-ng/news/nigeria-economy-news/access-holdings-clarifies-dividend-position-amid-strong-2025-earnings/Thu, 07 May 2026 08:57:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/access-holdings-clarifies-dividend-position-amid-strong-2025-earnings/ The National Insurance Commission and the Nigeria Police Force have forged a strategic partnership to strengthen the implementation of the Nigerian Insurance Industry Reform Act 2025 (NIIRA), deepen enforcement of compulsory insurance policies and accelerate ongoing reforms targeted at repositioning the sector for greater efficiency and public confidence.
The executive management of NAICOM, led by the Commissioner for Insurance, Mr Olusegun Ayo Omosehin, met yesterday in Abuja wit]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/naicom-police-forge-alliance-on-niira-reforms/Thu, 07 May 2026 08:56:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/naicom-police-forge-alliance-on-niira-reforms/https://www.newslocker.com/en-ng/news/nigeria-economy-news/price-of-50kg-local-rice-rises-205-to-n112000-nbs/Thu, 07 May 2026 08:48:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/price-of-50kg-local-rice-rises-205-to-n112000-nbs/https://www.newslocker.com/en-ng/news/nigeria-economy-news/electricity-workers-face-threats-as-system-crumbles-labour-laments/Thu, 07 May 2026 08:22:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/electricity-workers-face-threats-as-system-crumbles-labour-laments/ The Bank achieved an AAA+ rating, the highest possible distinction, underscoring its unmatched brand strength and leadership in the financial sector.
Speaking on the recognition, Group Head, Marketing and Corporate]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/first-bank-named-nigerias-strongest-brand-in-2026-by-brand-finance/Thu, 07 May 2026 07:33:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/first-bank-named-nigerias-strongest-brand-in-2026-by-brand-finance/https://www.newslocker.com/en-ng/news/nigeria-economy-news/urus-tackles-livestock-products-deficit-with-innovative-solutions/Thu, 07 May 2026 07:24:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/urus-tackles-livestock-products-deficit-with-innovative-solutions/ Nigeria’s manufacturing sector is facing a paradox. Despite its rising contribution to government revenue via taxes, manufacturers are neck-deep in multidimensional crises.To them, the levies are harsh, yet the operating space is harsher.They said the taxes feel more like ransom for freedom rat]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-manufacturing-paradox-heavy-taxes-amid-mounting-challenges/Thu, 07 May 2026 03:40:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-manufacturing-paradox-heavy-taxes-amid-mounting-challenges/ The Lagos Chamber of Commerce and Industry (LCCI) has raised concerns over Nigeria’s escalating public debt, warning that it reflects increasing fiscal pressure on the economy and calling for more realistic policy measures.
Nigeria’s total public debt rose to N159.28 trillion as of December 31, 2025, marking a year-on-year increase of N24.98 trillion, or 18.6 per cent, from N134.30 trillion recorded in 2024. The chamber noted that the c]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/rising-sovereign-debt-signals-growing-fiscal-strain-lcci/Thu, 07 May 2026 03:38:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/rising-sovereign-debt-signals-growing-fiscal-strain-lcci/  
The Manufacturers Association of Nigeria (MAN) has called on the Federal Government to ensure full transparency in the domestic pricing framework under the Naira-for-Crude policy.
Speaking in Lagos, the Director-General of MAN, Segun Ajayi-Kadir, stressed the need for a clear and accountable pricing matrix, alongside uninterrupted crude supply to local refineries without bureaucratic delays.
He described the policy of selling crude oi]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/man-pushes-for-clear-efficient-execution-of-naira-for-crude-deal/Thu, 07 May 2026 03:36:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/man-pushes-for-clear-efficient-execution-of-naira-for-crude-deal/  
Nigeria’s cultural, herb-infused alcoholic drink, Orijin has unveiled Orijin PET, a new 33cl portable format designed to extend the brand’s signature taste to more consumers by enhancing affordability and accessibility.The innovation reimagines how Nigerians experience Orijin, bringing its herb-infused identity closer to everyday social occasions nationwide while remaining rooted in the lifestyles and traditions that inspi]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/firm-targets-wider-consumers-with-ready-to-drink-innovation/Thu, 07 May 2026 03:33:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/firm-targets-wider-consumers-with-ready-to-drink-innovation/ Nigeria has emerged as Africa’s most spammed country, with new data showing that in 2025, 51 per cent of all unknown calls received by users in the country were identified as spam or fraud, data from Truecaller revealed on Tuesday.
This means more than one in every two unfamiliar calls is likely unwanted or potentially malicious.
Truecaller’s latest Spam and Fraud Report stated that a phone call once signified a direct human connection but in Nigeria today, that]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-emerges-africas-most-spammed-country-as-fraud-calls-hit-51/Thu, 07 May 2026 03:20:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-emerges-africas-most-spammed-country-as-fraud-calls-hit-51/ Nigeria is leveraging a multi-billion dollar deepwater oil project to attract global Original Equipment Manufacturers (OEMs), in a move to strongly position itself as a major hub for oil and gas manufacturing and services.
The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Felix Ogbe, stated this yesterday during his presentation at the NCDMB/Petroleum Technology Association of Nigeria (PETAN) OEM Networking Forum held]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-leverages-20bn-deepwater-project-to-attract-global-manufacturers/Thu, 07 May 2026 03:18:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-leverages-20bn-deepwater-project-to-attract-global-manufacturers/ Aviation Ground Handlers Association of Nigeria (AGHAN) has suspended its proposed plan to embark on an industrial action over a debt of N9 billion owed by domestic airlines, Daily Sun has learned.
The industrial action which was supposed to commence on Wednesday was suspended after intervention by the Nigerian Civil Aviation Authority (NCAA).
AGHAN said the regulator invited it to a meeting on Tuesday, May 12 to have a discussion over the issue and that it also received a forma]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/n9bn-debt-ground-handlers-shelve-strike-as-ncaa-intervenes/Thu, 07 May 2026 03:17:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/n9bn-debt-ground-handlers-shelve-strike-as-ncaa-intervenes/https://www.newslocker.com/en-ng/news/nigeria-economy-news/global-money-week-2026-opay-partners-cbn-to-advance-youth-financial-literacy/Thu, 07 May 2026 03:14:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/global-money-week-2026-opay-partners-cbn-to-advance-youth-financial-literacy/ The Ambassador of Thailand to Nigeria, Mr. Thirapath Mongtolnaun, yesterday, inspected the proposed site for the establishment of Thai-Nigeria Sustainable Agricultural Technology Learning Centre in Federal Cooperative College, Oji River.
The move followed an understanding by the duo to explore business opportunities in sustainable agriculture including African catfish production and others.
The project, which is a collaborative framework between the college, Kasetsart Un]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/thailand-fcco-explore-opportunities-in-catfish-production-sustainable-agriculture/Thu, 07 May 2026 03:09:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/thailand-fcco-explore-opportunities-in-catfish-production-sustainable-agriculture/ Roshe Agro, a farm-to-market fish farming company, recently hosted its Food x Culture Workshop, a gathering that brought together influential voices across hospitality, food service, agriculture and culture. The event explored the evolving relationship between farmed fish sourcing and changing consumer expectations in Nigeria, positioning fresh, locally farmed seafood as a critical lever for business growth and national food security.
Held at the Freedom Park Lagos, the works]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/roshe-agro-hosts-workshop-on-local-fish-for-hotels-restaurants/Thu, 07 May 2026 03:07:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/roshe-agro-hosts-workshop-on-local-fish-for-hotels-restaurants/ By Uche UsimNigeria’s biggest banks closed 2025 with a blend of strong top-line expansion and a sharp, policy-driven squeeze on profitability. It signaled resilience in core operations but adjustment pains from regulatory reforms.
Nonetheless, experts have said that the development does not give reasons for concern.
According to audited results for the year ended December 31, tier-one lenders recorded a 7.69 per cent rise in combined gross earnings]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/big-banks-post-strong-growth-weaker-profits-in-2025/Thu, 07 May 2026 02:40:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/big-banks-post-strong-growth-weaker-profits-in-2025/ Held at the Service’s headquarters in Abuja yesterday, the session doubled as a first-quarter operational review and capacity-building exercise for officers of the AML/CFT Unit, sharpening focus on ethics, intellige]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/customs-tightens-noose-on-dirty-money-terror-financing/Thu, 07 May 2026 02:37:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/customs-tightens-noose-on-dirty-money-terror-financing/ The scheme provides N500,000 to N5 million for general applicants, while sector-specific businesses can access between N5 million and N10 million. Each facility is capped at 50 per cent of the applicant’s average monthly turnover, a structure des]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fcmb-unveils-n10m-interest-free-loans-to-power-women-led-businesses/Thu, 07 May 2026 02:35:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fcmb-unveils-n10m-interest-free-loans-to-power-women-led-businesses/ The company, in a statement, said the decision reflects a deliberate effort to maintain price consistency, cushion the impact of external shocks on the domestic econ]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/weve-not-hiked-petrol-price-dangote-refinery/Thu, 07 May 2026 02:34:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/weve-not-hiked-petrol-price-dangote-refinery/  
In line with global best practices, Management of Nigerian Railway Corporation (NRC) recently joined global community to mark “World Day for Safety and Health”, at working environments, highlighting sustainable healthy workforce and safety of passengers as key to smooth operation of trains.
The present management of NRC led by Dr. Kayode Opeifa seized opportunity of the celebration to shed more light on commitment to improving staff welfare, workplace, and p]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nrc-raises-bar-on-passengers-safety-promotes-healthcare-of-staff/Thu, 07 May 2026 02:16:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nrc-raises-bar-on-passengers-safety-promotes-healthcare-of-staff/  
Ahead of ongoing critical track extension from Aba to Enugu and beyond, Management of Nigerian Railway Corporation has announced that collaborative efforts with the two states is to ensure seamless relocation of traders from the tracks before commencement of operations.
This is coming as the only passenger train operating the Aba-Port-Harcourt railway corridor cannot move beyond Aba presently due to vandalisation and encroachment on idle tracks by hoodlums and traders r]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/abia-enugu-reveal-plans-to-relocate-traders-from-railway-tracks/Thu, 07 May 2026 02:15:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/abia-enugu-reveal-plans-to-relocate-traders-from-railway-tracks/  
Worried about increasing incident of pelting stones at trains on motion by suspected criminal elements, management of Nigerian Railway Corporation +NRC) has assured passengers that the security agencies are working tirelessly to secure railway corridors and safeguard passengers.
The latest incident occurred around Kilometer 177 along the Abuja–Kaduna rail corridor, where some unknown persons reportedly gathered along the rail track and pelted stones at a moving tr]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nrc-calls-for-community-support-against-train-attacks/Thu, 07 May 2026 02:12:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nrc-calls-for-community-support-against-train-attacks/ The Workers Day Celebrations has come and gone but its grand style memoirs, has left an indelible mark in minds of Nigerian Railway Workers and Passengers especially in Aba Railway Station.
For over a century, the station had witnessed many arrivals and departures, but never had it seen such a spontaneous outpouring of worker/passenger solidarity.
The atmosphere was electric with joy, as the usual hustle and bustle gave way to cheers, laughter, and heartfelt camaraderie.
The N]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/how-railway-union-offered-passengers-free-tickets-in-aba/Thu, 07 May 2026 02:11:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/how-railway-union-offered-passengers-free-tickets-in-aba/  
Members of Nigerian Institute of Public Relations (NIPR) have expressed mixed feelings after boarding an Abuja-Kaduna passenger train to attend this year’s Annual General Meeting (AGM) of the group recently held in Kaduna.
They commended remarkable transformation taking place in Nigerian Railway Corporation (NRC) under leadership of Dr. Kayode Opeifa, and solicitrd for more funding by Federal government for maintainance of existing infrastructure and purchase of a]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/brief-fg-asked-to-fund-rail-service-transformation/Thu, 07 May 2026 02:08:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/brief-fg-asked-to-fund-rail-service-transformation/ Aviation Ground Handlers Association of Nigeria (AGHAN) have suspended its proposed plan to embark on an industrial action over a debt of N9 billion owed by domestic airlines, Daily Sun has learned.
The industrial action which was supposed to commence on Wednesday was suspended after intervention by the Nigerian Civil Aviation Authority (NCAA).
AGHAN said the regulator invited it to a meeting on Tuesday, May 12 to have a discussion over the issue and that it also received a]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/n9bn-airlines-debt-aghan-suspends-planned-strike-after-ncaas-intervention/Wed, 06 May 2026 21:01:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/n9bn-airlines-debt-aghan-suspends-planned-strike-after-ncaas-intervention/ Speaking at a forum with Original Equipment Manufacturers (OEMs) on the sidelines of the Offshore Technology Conference (OTC) in Houston, Texas, the PETAN chairman said the projection is based on an estimated annual spend of $]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-needs-65bn-equipment-financing-to-hit-3mbpd-by-2030-petan/Wed, 06 May 2026 20:41:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-needs-65bn-equipment-financing-to-hit-3mbpd-by-2030-petan/ The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe, stated this in a presentation at the NCDMB/Petroleum Technology Association of Nigeria (PETAN) OEM Networking Forum, he]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-leverages-20bn-deepwater-project-to-attract-global-oems/Wed, 06 May 2026 19:51:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-leverages-20bn-deepwater-project-to-attract-global-oems/ Petrol prices in Nigeria may come under renewed pressure following a sharp rise in global crude oil prices, which has driven up the cost of refined petroleum products across international markets.
The surge in prices is linked to escalating geopolitical tensions and major supply disruptions that have pushed the global oil market back into a period of heightened volatility.
Crude oil prices have climbed to their highest levels since 2022, triggering fresh increases in the prices]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/pms-pump-price-in-nigeria-faces-upward-pressure-as-global-crude-oil-prices-soar/Wed, 06 May 2026 12:00:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/pms-pump-price-in-nigeria-faces-upward-pressure-as-global-crude-oil-prices-soar/https://www.newslocker.com/en-ng/news/nigeria-economy-news/nestoil-we-are-not-responsible-for-banks-failure-to-pay-dividend/Wed, 06 May 2026 08:33:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nestoil-we-are-not-responsible-for-banks-failure-to-pay-dividend/https://www.newslocker.com/en-ng/news/nigeria-economy-news/how-customs-cg-is-facilitating-trade-boosting-business-in-the-south-east-of-nigeria/Wed, 06 May 2026 08:24:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/how-customs-cg-is-facilitating-trade-boosting-business-in-the-south-east-of-nigeria/https://www.newslocker.com/en-ng/news/nigeria-economy-news/dangote-cement-grows-exports-by-716-as-capacity-hits-55mta/Wed, 06 May 2026 08:12:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/dangote-cement-grows-exports-by-716-as-capacity-hits-55mta/https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-moves-to-settle-contractors-debts-assures-transparent-process/Wed, 06 May 2026 08:09:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-moves-to-settle-contractors-debts-assures-transparent-process/ Speaking at the inaugural Annual Advocacy Lecture of the Nathaniel Atebije Foundation for Planning Advocacy in Abuja, he said that the theme of the lecture closely aligns with the federal govern]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/plans-to-achieve-1trn-economy-in-5yrs-finalised-bagudu/Wed, 06 May 2026 04:03:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/plans-to-achieve-1trn-economy-in-5yrs-finalised-bagudu/ The platform is one of the communications industry’s most respected global awards programmes recognising excellence in branding, reputation and engagement.
In a competition featuring over 2,000 entries, the SABRE Awards recognize Superior Achievement in Branding, Reputation, and Engagement. The agency’s shortlisted work includes campaigns across skincare and]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/redrick-pr-named-finalist-in-2-sabre-awards-categories/Wed, 06 May 2026 04:00:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/redrick-pr-named-finalist-in-2-sabre-awards-categories/ Domestic refineries have recorded a crude oil supply shortfall of 33.4 million barrels in the first quarter of 2026.
Latest data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on the implementation of the Domestic Crude Supply Obligation (DCSO) has shown.
The Commission disclosed that a total of 61.9 million barrels was allocated to local refiners during the quarter. However, actual deliveries stood significantly lower at 28.5 million barrels, indic]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/domestic-refiners-record-334m-crude-supply-shortfall-in-q1/Wed, 06 May 2026 04:00:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/domestic-refiners-record-334m-crude-supply-shortfall-in-q1/ The conference, hosted by the Lagos Business School Family Business Initiative recently in Lagos and themed: “Beyond Survival: Governance and Culture as the Foundation of Lasting Family Legacy,” highlighted structural weaknesses that]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/family-business-success-goes-beyond-survival-ifbc/Wed, 06 May 2026 03:57:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/family-business-success-goes-beyond-survival-ifbc/ Nigeria’s equities market has emerged as Africa’s standout performer so far this year, delivering a 63 per cent return in dollar terms as a sweeping banking recapitalisation programme and renewed foreign interest fuel one of the strongest rallies in its history.
The surge has added roughly N56 trillion to total market capitalisation between January and April, underscoring both the scale of investor inflows and the sharp repricing of key stocks, particularly in th]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/bank-recapitalisation-grows-nigerias-stock-market-value-to-n56trn-dollar-returns-hit-63/Wed, 06 May 2026 03:54:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/bank-recapitalisation-grows-nigerias-stock-market-value-to-n56trn-dollar-returns-hit-63/ In a statement on Tuesday, the bank said Ovia stepped down after serving the mandatory 12 years as a non-executive director and chairman, as required under the Central Bank of Nigeria’s corporate governance rules.
The bank praised his leadership, describing his tenure as one defined by strong direction, strategic growth, and effective overs]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/zenith-bank-founder-jim-ovia-retires-as-bello-takes-over-board-chair/Wed, 06 May 2026 03:53:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/zenith-bank-founder-jim-ovia-retires-as-bello-takes-over-board-chair/ United Bank for Africa, Redtech Limited and MoMo PSB have teamed up to make payments easier across Nigeria.
The partnership allows people to pay without using physical cards, making it simpler for both customers and businesses to send and receive money..
With this development, MoMo PSB customers can now make payments directly from their MoMo wallets at participating UBA merchant locations using the “Pay with MoMo” feature on RedP]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/uba-redtech-momo-psb-boost-payment-access-in-nigeria/Wed, 06 May 2026 03:51:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/uba-redtech-momo-psb-boost-payment-access-in-nigeria/ The one-day fair served as a collaborative platform designed to prepare MSMEs for sustainable growth, improved market access, and long-term resilience in Nigeria’s challenging econom]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/sundry-markets-hosts-msme-fair-empowers-entrepreneurs/Wed, 06 May 2026 03:50:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/sundry-markets-hosts-msme-fair-empowers-entrepreneurs/ The bank, in a statement, said the milestone underscores its continued drive to enhance user experience and expand access to innovative financial services through digital channels.
Launched in 2017 as Africa’s first fully digital bank, ALAT was designed to address challenges associated with conventional banking by providing a seamless platform]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/wema-bank-celebrates-digital-banking-success-as-alat-clocks-9/Wed, 06 May 2026 03:48:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/wema-bank-celebrates-digital-banking-success-as-alat-clocks-9/ ​Leveraging this new partnership, IMBIL Telecom has already successfully onboarded five Mobile Virtual Network Operators (MVNOs]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/imbil-airtel-nigeria-ink-deal-to-support-mobile-operators/Wed, 06 May 2026 03:46:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/imbil-airtel-nigeria-ink-deal-to-support-mobile-operators/ By Chinenye Anuforochinenyeanuforo@gmail.com
Alarm bells are blaring over Nigeria’s widening digital identity adoption gap.
Stakeholders say the delay in embracing local digital infrastructure, including the .ng domain, risks deepening dependence on foreign platforms and weakening data control.With the concomitant effects of that being too severe to ignore, stakeholders tabled the matter at the 18th Annual General Meetin]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/alarm-bells-over-nigerias-digital-identity-adoption-gap/Wed, 06 May 2026 03:32:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/alarm-bells-over-nigerias-digital-identity-adoption-gap/ A new player has entered the country’s telecommunications space as FestMobile, a Mobile Virtual Network Operator (MVNO), officially launched nationwide with a promise to deliver smarter, user-focused mobile services.
The company said its entry is driven by a vision to redefine how Nigerians connect, communicate and transact, anchored on its “Be You” campaign, which promotes individuality and self-expression in an increasingly digital society.
Speaking at the]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/festmobile-debuts-targets-youth-underserved-segments/Wed, 06 May 2026 03:29:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/festmobile-debuts-targets-youth-underserved-segments/ Microsoft has stressed the need for digital government as a critical foundation for Nigeria’s digital economy, warning that outdated public systems could limit growth despite rising innovation and internet penetration.
In a statement by Nonye Ujam, Director of Government Affairs for Microsoft West Africa, the company said Africa stands at a “once-in-a-generation opportunity” to accelerate development through the digital economy, which it described as central]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/microsoft-pushes-digital-government-as-key-to-nigerias-economic-renaissance-economic-growth/Wed, 06 May 2026 03:27:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/microsoft-pushes-digital-government-as-key-to-nigerias-economic-renaissance-economic-growth/ To expand access to airtime and data services, particularly in Nigeria’s underserved and rural communities, Vitel Wireless has entered into partnership with OPay Limited and Moniepoint Limited.
The collaboration enables millions of customers on both fintech platforms to seamlessly purchase Vitel Wireless airtime and data directly from their bank accounts and digital wallets, a move designed to simplify access and improve connectivity nationwide.
Chief Operating Officer]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/vitel-targets-rural-access-boost-with-fintech-partnership/Wed, 06 May 2026 03:25:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/vitel-targets-rural-access-boost-with-fintech-partnership/ Chairman of Zinox Group, Leo Stan Ekeh, has declared that the nation’s digital creator economy is emerging as a new pathway to wealth, driven by the convergence of technology, creativity and commerce.
Ekeh made this known at the recently-held maiden edition of CerAwards Africa 2026, an initiative powered by CeraVe in partnership with Konga Health, where top Nigerian creators were rewarded with cash prizes, professional tools and international exposure.
He said the]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-digital-economy-reshaping-wealth-creation-ekeh/Wed, 06 May 2026 03:24:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-digital-economy-reshaping-wealth-creation-ekeh/ Stories by Steve Agbota                                   styvenchy@yahoo.com 
 
Nigeria’s seaports are witnessing a worrisome rise in stowaway incidents.
Experts are linking the trend to deepening poverty and weak enforcement of maritime laws. The situation, they warn, reflects growing desperation among youths and gaps in port security systems.
They added that]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/hardship-weak-laws-fuelling-stowaway-surge-at-seaports-experts/Wed, 06 May 2026 03:19:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/hardship-weak-laws-fuelling-stowaway-surge-at-seaports-experts/ The Sea Empowerment and Research Centre (SEREC) has revealed that marine biomass utilisation and the green port energy transition implementation will attract over N450 billion investment, create about 50,000 jobs, and reduce logistics and port costs in the country.
The research centre hinted that the combined implementation will boost non-oil exports and foreign exchange earnings, and strengthen the ease of doing business within a three- to five-year period.
However, SEREC descri]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/greenport-project-targets-n450bn-value-50000-jobs/Wed, 06 May 2026 03:18:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/greenport-project-targets-n450bn-value-50000-jobs/ The National Inland Waterways Authority (NIWA) has unveiled plans to facilitate the development of a West Coast cargo jetty aimed at enhancing seamless movement of goods and services across the sub-region.
This comes as the Authority prepares to operationalise some of its existing jetties to boost cargo traffic between Nigeria and Ghana as a pilot phase of the initiative.
This was made known during a recent joint inspection of the Marina Jetty in Lagos by officials of the N]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/niwa-plans-west-coast-cargo-jetty-smart-inland-expansion/Wed, 06 May 2026 03:16:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/niwa-plans-west-coast-cargo-jetty-smart-inland-expansion/https://www.newslocker.com/en-ng/news/nigeria-economy-news/5m-10m-zero-interest-loans-sheventures-opens-applications-for-women-entrepreneurs/Wed, 06 May 2026 02:31:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/5m-10m-zero-interest-loans-sheventures-opens-applications-for-women-entrepreneurs/ At the meeting with financiers from Citibank, Amundi and several other global investment firms, the President said his administration’s reform programme was designed to eliminate economic distortions, strengt]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/tinubu-woos-global-investors-in-paris-vows-fiscal-discipline-policy-stability/Tue, 05 May 2026 23:11:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/tinubu-woos-global-investors-in-paris-vows-fiscal-discipline-policy-stability/ The NUPRC boss spoke at the 10th Africa Energy Summit, themed “Scaling Innovation, Financing and Industrial Capacity for Africa’s Energy Security”, at the ongoing Offshore Technology Confere]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/middle-east-crisis-cuts-10m-barrels-from-global-oil-market-nuprc-boss/Tue, 05 May 2026 22:35:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/middle-east-crisis-cuts-10m-barrels-from-global-oil-market-nuprc-boss/https://www.newslocker.com/en-ng/news/nigeria-economy-news/jim-ovia-steps-down-as-zenith-bank-chairman/Tue, 05 May 2026 13:22:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/jim-ovia-steps-down-as-zenith-bank-chairman/ Jim Ovia, the founder and group chairman of Zenith Bank Plc, has retired from the bank’s board after his tenure lapsed.
The retirement was announced on Tuesday at Zenith Bank’s 35th Annual General Meeting.
Ovia’s exit aligns with the Central Bank of Nigeria’s corporate governance rules, which cap the tenure of non-executive directors and chairmen at 12 years.
Ovia first assumed the chairmanship on July 16, 2014, having previously pioneered the bank as its]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/zenith-bank-jim-ovia-retires-as-chairman/Tue, 05 May 2026 13:11:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/zenith-bank-jim-ovia-retires-as-chairman/ Key reforms spearheaded by the Central Bank of Nigeria Governor, Olayemi Cardoso, begin to take hold and gradually percolate into the economy.What initially felt like a difficult recalibration is now evolving into a more durable and shock-resilient framework, gradually restoring confidence and strengthening the outlook for sustained growth.
Across boardrooms and policy circles, the consensus is that Nigeria is bette]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/how-cbn-reforms-are-building-shock-absorbers-fiscal-ladders-to-stability/Tue, 05 May 2026 03:52:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/how-cbn-reforms-are-building-shock-absorbers-fiscal-ladders-to-stability/ From Okwe Obi, AbujaWith worsening food insufficiency tormenting governments at national and subnational levels, a quiet but powerful constraint on agricultural productivity has been unravelled. It is illiteracy. Closely linked to that is ignorance.
According to analysts, illiteracy has led to poor farming habits like the indiscriminate application of fertiliser, maximised greenhouse gas emissions and lack of understanding of soil for cultivati]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/experts-how-illiteracy-undermines-farmlands-crop-yields/Tue, 05 May 2026 03:51:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/experts-how-illiteracy-undermines-farmlands-crop-yields/  
Greenplinth Africa and Allgreen Energy NV have signed a $10 billion manufacturing agreement for the production of 24 million stoves under Greenplinth Africa’s 80 million clean cookstoves project in Nigeria.The President & Group Chief Executive Officer (GCEO), Greenplinth Africa, Dr. Olawale Akinwumi, made this known at]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/climate-change-greenplinth-africa-allgreen-energy-seal-10bn-deal-to-produce-24m-stoves/Tue, 05 May 2026 03:49:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/climate-change-greenplinth-africa-allgreen-energy-seal-10bn-deal-to-produce-24m-stoves/  
Presco Plc, Nigeria’s leading edible oils producer, has announced its audited financial results for the year ended December 31, 2025 and an unaudited trading update for the first quarter ended March 31, 2026. The company delivered double-digit growth across every major line of the income statement and entered 2026 with growth momentum already extending into the new financial year.
According to the company, headline growth metrics in 2025 include; Profit Bef]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/presco-grows-posts-n1215bn-2025-profit/Tue, 05 May 2026 03:47:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/presco-grows-posts-n1215bn-2025-profit/ This has raised fresh concerns about their ability to fund development priorities.
This worry was amplified in the latest annual update of the International Monetary Fund’s World Revenue Longitudinal Database. According to the update, revenues from extractive industries and foreign aid grants for genera]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-others-battling-revenue-crunch-amid-shrinking-foreign-aid-imf/Tue, 05 May 2026 03:46:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-others-battling-revenue-crunch-amid-shrinking-foreign-aid-imf/https://www.newslocker.com/en-ng/news/nigeria-economy-news/rising-costs-tight-credit-cloud-private-sector-growth/Tue, 05 May 2026 03:44:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/rising-costs-tight-credit-cloud-private-sector-growth/ From Adanna Nnamani, AbujaThe National Commissioner of the Nigeria Data Protection Commission (NDPC), Vincent Olatunji, has said that the country has emerged as a global reference point in data protection.
Olatunji, who linked the achievement to the country’s rapid progress in building a functional data protection ecosystem, stated this at a cross-regional data protection peer exchange workshop held in Abuja on Monday.The event was]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-now-global-data-protection-reference-ndpc/Tue, 05 May 2026 03:43:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-now-global-data-protection-reference-ndpc/ Nigeria is intensifying efforts to explore new markets for its crude oil as global energy dynamics continue to evolve, the Chairman of the Petroleum Technology Association of Nigeria (PETAN), Mr. Wole Ogunsanya, has said.
Speaking at the opening ceremony of the Offshore Technology Conference (OTC) which began in Houston, Texas yesterday, Ogunsanya said Nigeria must move beyond traditional buyers and aggressively seek alternative markets to remain competitive]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-exploring-new-oil-markets-to-boost-revenue-reduce-opec-dependence-petan/Tue, 05 May 2026 03:42:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-exploring-new-oil-markets-to-boost-revenue-reduce-opec-dependence-petan/ The recognition was based on revenue performance, market penetration, compliance with credit policies, and overall support to the company’s distribution network.
Head of Commercial, Mrs. Ada Ikebuilo, said the company posted revenue of N12.18 billion in 2024, achieving 88 pe]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/cutix-rewards-top-distributors/Tue, 05 May 2026 03:40:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cutix-rewards-top-distributors/ Scheduled to hold on May 8 and 9, 2026 in Lagos, the bootcamp is being positioned as a strategic intervention designed to address knowledge gaps, promote innovation, and empower the next generation of real estate entrepreneurs in Af]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/areeb-2026-eyes-new-era-for-property-entrepreneurs-in-africa/Tue, 05 May 2026 03:38:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/areeb-2026-eyes-new-era-for-property-entrepreneurs-in-africa/ The rule is part of the Nigeria Tax Act 2025, which started on January 1, 2026. It means any interest earned on domiciliary accounts will now be taxed, just like interest on naira savings accounts.
Several banks, including Access]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/banks-explain-10-fx-savings-tax-amid-customer-uproar/Tue, 05 May 2026 03:35:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/banks-explain-10-fx-savings-tax-amid-customer-uproar/ From Adanna Nnamani, Abuja
The Nigerian National Petroleum Company Limited (NNPC Ltd) has signed a Memorandum of Understanding (MoU) with two Chinese firms, Sanjiang Chemical Company Limited and Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Ltd, to advance the restart, rehabilitation and expansion of the Warri and Port Harcourt refineries.
The agreement, signed in Jiaxing City, China on Thursday, April 30, 2026, follow]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nnpc-chinese-partners-seal-deal-to-revive-phc-warri-refineries-boost-petrochemical-output/Tue, 05 May 2026 03:33:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nnpc-chinese-partners-seal-deal-to-revive-phc-warri-refineries-boost-petrochemical-output/ NUPRC Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan,  disclosed this at the NUPRC / PETAN Energy Evolution Exchange Spotlight at the Offshore Technology Conference (OTC) 2026, in Houston, Texas, yesterday.
“Today, we are working towards converting those flares into about 3 gigawatts of electricity. This project is ong]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-targets-3gw-of-electricity-from-gas-flare-commercialisation/Tue, 05 May 2026 03:32:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-targets-3gw-of-electricity-from-gas-flare-commercialisation/ Speaking at the launch in Lagos recently, the Managing Director, Fatiu Akiolu, said the initiative provides a digital backbone for the growing Out-of-Home (OOH) advertising sector.
“For years, the Out-of-Home landscape has grown in scale and complexity. What we introduce today is a digit]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/lasaa-streamlines-operations-with-new-digital-directory/Tue, 05 May 2026 03:31:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/lasaa-streamlines-operations-with-new-digital-directory/ The Nigerian National Petroleum Company (NNPC) Limited, has remitted N2.88 trillion to the federation between January and March 2026, as it recorded a profit after tax of N276 billion in March, driven largely by stronger gas production.
The figures were disclosed in the company’s latest monthly report released on Monday, which noted that all production, sales and financial data remain provisional and subject to reconciliation with relevant stakeholders.
According]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nnpc-remits-n288trn-in-q1-posts-n276bn-march-profit/Mon, 04 May 2026 21:57:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nnpc-remits-n288trn-in-q1-posts-n276bn-march-profit/ Partners World Bank to host continental collaboration workshopFrom Adanna Nnamani, Abuja
The National Commissioner of the Nigeria Data Protection Commission (NDPC), Vincent Olatunji, has said that the country has emerged as a global reference point in data protection.
Olatunji, who linked the achievement to the country’s rapid progress in building a functional data protection ecosystem, stated this at a cross-regional data protection p]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ndpc-says-nigeria-leads-in-data-protection/Mon, 04 May 2026 16:24:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ndpc-says-nigeria-leads-in-data-protection/ Akwa Ibom State Governor Pastor Umo Eno has announced the creation of a full-fledged Ministry of Aviation and Airport Development with a mandate to manage and oversee policies, strategies and programmes for aviation development in the state.
Eno announced the new Ministry of Aviation immediately after he returned to Uyo from Accra, Ghana, on a maiden international flight at Victor Attah International Airport in Uyo.
According to Eno, the new Ministry of Aviation will oversee]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/akwa-ibom-eno-floats-new-aviation-ministry-to-back-up-airport/Mon, 04 May 2026 13:40:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/akwa-ibom-eno-floats-new-aviation-ministry-to-back-up-airport/ In a post shared on X on Monday, Otedola said he did not invest any money in the refinery project and faulted those circulating the claim online.
“Reports claiming that Femi Otedola funded the Dangote Petroleum Refinery are completely and utterly false. He has not invested a single kobo, not one dollar, not one naira.”
Otedola said th]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/i-never-funded-dangote-refinery-otedola/Mon, 04 May 2026 12:47:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/i-never-funded-dangote-refinery-otedola/https://www.newslocker.com/en-ng/news/nigeria-economy-news/dangote-never-requested-funding-from-elumelu-adenuga-myself-for-refinery-otedola/Mon, 04 May 2026 12:01:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/dangote-never-requested-funding-from-elumelu-adenuga-myself-for-refinery-otedola/https://www.newslocker.com/en-ng/news/nigeria-economy-news/naccima-deepens-nigeria-china-ties-with-tour-of-guangzhou-factories/Mon, 04 May 2026 09:53:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/naccima-deepens-nigeria-china-ties-with-tour-of-guangzhou-factories/https://www.newslocker.com/en-ng/news/nigeria-economy-news/lcci-tasks-fg-on-reforms-to-unlock-manufacturing-growth/Mon, 04 May 2026 09:39:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/lcci-tasks-fg-on-reforms-to-unlock-manufacturing-growth/https://www.newslocker.com/en-ng/news/nigeria-economy-news/power-sector-crises-band-regime-collapses-discos-miss-delivery-targets/Mon, 04 May 2026 09:25:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/power-sector-crises-band-regime-collapses-discos-miss-delivery-targets/https://www.newslocker.com/en-ng/news/nigeria-economy-news/value-addition-holds-key-to-food-security-wealth-in-nigeria-nabg-boss/Mon, 04 May 2026 09:14:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/value-addition-holds-key-to-food-security-wealth-in-nigeria-nabg-boss/ Speaking at the 84th session of the Marine Environment Protection Committee (MEPC 84) of the International Maritime Organisation (IMO) in London, the Minister of Marine and Blue Economy, H.E. Dr Adegboyega Oyetola, reaffirmed the country’s support for decarbonisation, stating]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/net-zero-shipping-oyetola-urges-fairness-for-developing-countries/Mon, 04 May 2026 09:04:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/net-zero-shipping-oyetola-urges-fairness-for-developing-countries/https://www.newslocker.com/en-ng/news/nigeria-economy-news/strengthen-governance-or-face-regulatory-action-cbn-warns-directors/Mon, 04 May 2026 07:27:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/strengthen-governance-or-face-regulatory-action-cbn-warns-directors/https://www.newslocker.com/en-ng/news/nigeria-economy-news/strengthen-governance-or-face-regulatory-action-cbn-warns-banks-directors/Mon, 04 May 2026 07:27:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/strengthen-governance-or-face-regulatory-action-cbn-warns-banks-directors/ In a statement issued on Monday by the Group Chief Branding and Communications Officer, Anthony Chiejina, the company described the report as false, malicious, and a deliberate distortion of facts.
Chiejina said the organisation and its president never made the statements being circulat]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/dangote-refutes-claims-on-refinery-financing-denies-elumelu-rift/Mon, 04 May 2026 07:25:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/dangote-refutes-claims-on-refinery-financing-denies-elumelu-rift/https://www.newslocker.com/en-ng/news/nigeria-economy-news/stock-investors-reap-n265trn-in-april-market-cap-hits-n1557trn/Mon, 04 May 2026 07:17:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/stock-investors-reap-n265trn-in-april-market-cap-hits-n1557trn/https://www.newslocker.com/en-ng/news/nigeria-economy-news/dangote-slams-false-claims-on-refinery-financing-rift-with-elumelu/Mon, 04 May 2026 04:44:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/dangote-slams-false-claims-on-refinery-financing-rift-with-elumelu/ A recent report by the Sea Empowerment and Research Centre (SEREC) has revealed that Nigeria is estimated to be losing $8 billion in revenue yearly due to under-declaration, misclassification and poor documentation of exports, particularly in the solid minerals. The report, which was signed by the Head of Research, SEREC, Dr Eugene Nweke, highlighted that despite abundant deposits of iron ore, gypsum, other solid minerals and crude oil reserves, the country continues to import re]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-loses-8bn-yearly-to-trade-misinvoicing-undervaluation-serec/Mon, 04 May 2026 03:34:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-loses-8bn-yearly-to-trade-misinvoicing-undervaluation-serec/ This charge was delivered at the LCCI AI Summit themed; “Adopting AI for Your Business: Nigeria Realities and Case Studies,” organised by the Chamber’s ICT Group and Young Business Leaders Group.
Speaking at the event, LCCI President, Leye Kupoluyi, described]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/lcci-urges-businesses-to-maximise-ai-adoption/Mon, 04 May 2026 03:32:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/lcci-urges-businesses-to-maximise-ai-adoption/ The Director-General of the Infrastructure Concession Regulatory Commission (ICRC), Dr. Jobson Oseodion Ewalefoh, has commended President Bola Ahmed Tinubu for resolving the long-standing Public-Private Partnership (PPP) dispute over the Murtala Muhammed Airport Terminal Two (MMA2), Lagos, describing the intervention as a major boost for investor confidence in Nigeria.
Ewalefoh said the resolution of the decades-long impasse between the Federal Government, through the Federa]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/icrc-lauds-tinubu-keyamo-as-mma2-dispute-ends-lekki-airport-cleared/Mon, 04 May 2026 03:32:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/icrc-lauds-tinubu-keyamo-as-mma2-dispute-ends-lekki-airport-cleared/ In a statement issued by its Group Chief Branding and Communications Officer, Anthony Chiejina, the company said neither Dangote nor the Group made the claims attributed to them, insisting that the report misrepresents both personal and corporate positions.
The Group also rejec]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/dangote-debunks-elumelu-rift-financing-allegations/Mon, 04 May 2026 03:31:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/dangote-debunks-elumelu-rift-financing-allegations/ With the regulatory green light, C]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/coinage-fund-secures-secs-approval-for-portfolio-management/Mon, 04 May 2026 03:29:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/coinage-fund-secures-secs-approval-for-portfolio-management/ During a leadership breakfast held over the weekend, at the Lagos Polo Club in Ikoyi, the indigenous smart card manufacturer convened top executives from banks, fintechs and payment schemes to examine the role of domestic production in scaling Nigeria’s fast-growing digital]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/cardfort-turns-5-pushes-local-payments-manufacturing/Mon, 04 May 2026 03:29:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cardfort-turns-5-pushes-local-payments-manufacturing/  
By Chinwendu Obienyi
Despite posting robust revenue growth and margin expansion, rising energy costs and macroeconomic pressures could weigh on the cement sector’s outlook in the months ahead.
Combined revenues of major players, Dangote Cement, Lafarge Africa and BUA Cement, rose to approximately N1.89 trillion in the first quarter (Q1) of 2026, underpinned by improved pricing, recovering volumes and sustained demand from]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/cement-makers-revenue-threatened-by-rising-energy-bills/Mon, 04 May 2026 03:27:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cement-makers-revenue-threatened-by-rising-energy-bills/ A Tax Ombud is an independent official or office that stands between taxpayers and tax agencies to ensure fairness, transparency and proper treatment.
Tax Ombud and Chief Executive Officer of the Office of the Tax Ombud, Dr. Joh]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/tax-ombud-charges-journalists-to-drive-fiscal-reform-awareness-protect-taxpayers/Mon, 04 May 2026 03:25:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/tax-ombud-charges-journalists-to-drive-fiscal-reform-awareness-protect-taxpayers/https://www.newslocker.com/en-ng/news/nigeria-economy-news/uba-urges-stronger-bank-fintech-ties-at-pan-african-summit/Mon, 04 May 2026 03:24:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/uba-urges-stronger-bank-fintech-ties-at-pan-african-summit/ The bank said the matter has been reported to law enforcement authorities, leading to the arrest of three individuals allegedly linked to the creation and spread of the false content. UBA identified them as Kingsley Akunemeihe, Chigozie Succ]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/tackles-false-divorce-reports-on-elumelu-3-arrested/Mon, 04 May 2026 03:22:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/tackles-false-divorce-reports-on-elumelu-3-arrested/ Nigeria’s biggest banks have become financially stronger, with their Capital Adequacy Ratios (CAR) rising above 20 per cent after a major fundraising push ordered by the Central Bank of Nigeria (CBN), insiders told Daily Sun at the weekend.
With their CAR rising above 20%, it means they now have more money set aside compared to the loans and risks they carry. In simple terms, they are better protected if customers default or the economy gets shaky.
The development mark]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/big-banks-grow-stronger-as-capital-buffers-cross-20-after-fresh-funding-drive/Mon, 04 May 2026 03:20:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/big-banks-grow-stronger-as-capital-buffers-cross-20-after-fresh-funding-drive/ The Central Bank of Nigeria (CBN) has announced plans to raise N700 billion through a Nigerian Treasury Bills (NTBs) auction scheduled for May 7, 2026, in line with the Federal Government’s second-quarter borrowing programme.
Details of the planned issuance were contained in an official tender notice issued by the apex bank on behalf of the Debt Management Office (DMO). The auction marks the first NTB sale for the month of May and forms part of broader efforts to]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-to-raise-n700bn-via-treasury-bills-auction-may-7/Mon, 04 May 2026 03:19:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-to-raise-n700bn-via-treasury-bills-auction-may-7/https://www.newslocker.com/en-ng/news/nigeria-economy-news/how-to-strengthen-nigerias-capacity-for-accountability-plug-leakages-by-cifcfin/Mon, 04 May 2026 03:18:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/how-to-strengthen-nigerias-capacity-for-accountability-plug-leakages-by-cifcfin/ From Adanna Nnamani, AbujaThe Nigeria Data Protection Commission (NDPC) has warned that over 90 per cent of Nigeria’s data is hosted outside the country, raising concerns over data sovereignty and national security.
The National Commissioner and Chief Executive Officer of the NDPC, Vincent Olatunji, raised the alarm while delivering a keynote address at the IoT West Africa Conference, where he stated that the trend poses signifi]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/90-of-nigerias-data-hosted-abroad-ndpc-flags-sovereignty-threat/Mon, 04 May 2026 03:18:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/90-of-nigerias-data-hosted-abroad-ndpc-flags-sovereignty-threat/ The financial services giant disclosed its unaudited consolidated and separate financial statements to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE) on Wednesday.
According to the results, interest income rose by 17.5 per cent yea]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/gtco-posts-n3029bn-q1-profit-assets-hit-n187trn/Mon, 04 May 2026 03:16:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/gtco-posts-n3029bn-q1-profit-assets-hit-n187trn/ Investors on the Nigerian equities market gained about N26.7 trillion in April as the Nigerian Exchange (NGX) recorded its highest monthly rally on record, driven by renewed foreign portfolio inflows, improved domestic participation and stronger corporate earnings.
Data from the Exchange showed that market capitalisation rose from N129.21 trillion at the start of April to N155.99 trillion by April 30, representing a N26.78 trillion increase. Similarly, the NGX All-Share Index]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/investors-pocket-n267trn-as-ngx-hits-highest-monthly-rally/Mon, 04 May 2026 03:15:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/investors-pocket-n267trn-as-ngx-hits-highest-monthly-rally/  
Lafarge Africa Plc has reported a 101 per cent increase in profit after tax (PAT) for the first quarter of 2026, rising to N97.95 billion from N48.64 billion in the corresponding period of 2025, supported by higher sales volumes and tighter cost management.
Net sales also grew by 35 per cent to N334.88 billion in Q1 2026, compared to N248.35 billion in the same period last year, reflecting improved demand and operational stability across its markets. The company said o]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/lafarge-africa-posts-n9795bn-pbt-as-sales-soar-costs-fall/Mon, 04 May 2026 03:13:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/lafarge-africa-posts-n9795bn-pbt-as-sales-soar-costs-fall/ Access Holdings Plc recorded a sharp rise in credit risk charges in 2025, with impairment expenses more than doubling to N523.6 billion, even as the group delivered strong earnings and crossed the N1 trillion profit before tax mark.
Impairment charges are provisions banks set aside to cover expected losses from loans that may not be fully repaid. According to its financials filed on the Nigerian Exchange Limited (NGX), the 113.4 per cent increase in impairment charges represe]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/access-holdings-bad-loan-charges-jump-113-despite-higher-profit/Mon, 04 May 2026 03:13:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/access-holdings-bad-loan-charges-jump-113-despite-higher-profit/ The Freelander 8 is a full-size electric SUV unveiled as the first model from a new, independent joint venture brand between Chery and Jaguar Land Rover (JLR).It is a 5.1-meter-long, 800V,, high-tech vehicle aimed at premium Chinese and global markets, featuring Huawei ADS 5.0 intelligent driving, CATL 6C batteries, and rugged, boxy styling reminiscent of the
The]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/cheryjlr-freelander-8-unveiled-with-huawei-ads-5-catl-6c-charging/Mon, 04 May 2026 03:11:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cheryjlr-freelander-8-unveiled-with-huawei-ads-5-catl-6c-charging/ The Jetour X70 Plus distinguishes itself as a feature-packed SUV designed to deliver enhanced safety, comfort and performance for both drivers and passengers.
Built as an upgrade to the regular X70, the model combines advanced technology with premium convenience features that place it among the most well-equipped SUVs in its class.To support ownership experience, Jetour Nigeria has accredited dealers across the country, including Elizade Nigeria Limited, New Era AutoVehicle Serv]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/jetour-x70-plus-elevates-suv-experience/Mon, 04 May 2026 03:08:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/jetour-x70-plus-elevates-suv-experience/ By Adewale Sanyaolu
Petrol price across the Nigerian downstream market is set for further rise in the new week as the Strait of Hormuz remains heavily restricted, with the United States of America tightening its blockade and Iran maintaining control over vessel movements.
With no clear resolution in sight, hopes of a price crash are fading fast, leaving consumers and businesses facing sustained pressure from higher fuel costs in the near term.
So]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/hope-fades-for-petrol-price-crash-as-hormuz-deadlock-persists/Mon, 04 May 2026 02:36:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/hope-fades-for-petrol-price-crash-as-hormuz-deadlock-persists/  
Metering gaps and the push to decentralise Nigeria’s electricity system are natural priorities for the newly appointed Minister of Power, Mr. Joseph Tegbe and the President’s Special Adviser/ Chairman of the Presidential Task Force on Power Sector Reset and Restoration, Mr. Lanre Babalola.
Their appointments last week signalled a renewed focus on tackling longstanding inefficiencies in the sector, particularly estimated billing and the over-centralised grid]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/metering-power-decentralisation-gas-top-agenda-for-new-power-minister-adviser/Mon, 04 May 2026 02:35:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/metering-power-decentralisation-gas-top-agenda-for-new-power-minister-adviser/  
Nigeria’s indigenous oil and gas service providers are positioning themselves at the heart of Africa’s evolving energy landscape as the Offshore Technology Conference(OTC) 2026 opens in Houston, Texas on Monday (today).
The Petroleum Technology Association of Nigeria (PETAN), a central player in Nigeria’s delegation, will feature prominently at the Nigerian Pavilion, in collaboration with Acme Multitech Services Limited. Rather than playing a supporti]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/petan-puts-indigenous-firms-at-centre-of-africas-energy-talks/Mon, 04 May 2026 02:33:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/petan-puts-indigenous-firms-at-centre-of-africas-energy-talks/  
Falcon Corporation Limited has outlined a new growth direction focused on expanding its role in Nigeria’s gas sector, following the appointment of Audrey Joe-Ezigbo as its Chief Executive Officer.
The company said the plan will prioritise infrastructure development, stronger partnerships, and improved delivery of gas to industrial and commercial users as Nigeria continues efforts to increase domestic gas utilisation and address energy supply constraints.
Joe-Ezig]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/falcon-targets-stronger-grip-on-industrial-gas-market/Mon, 04 May 2026 02:33:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/falcon-targets-stronger-grip-on-industrial-gas-market/ Details of the planned issuance were contained in an official tender notice issued by the apex bank on behalf of the Debt Management Office (DMO). The auction marks the first NTB sale for the month of May and forms part of broader efforts to]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-to-raise-n700bn-via-treasury-bills-auction-on-may-7/Sun, 03 May 2026 17:15:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-to-raise-n700bn-via-treasury-bills-auction-on-may-7/ Speaking in a statement issued by Group Head, Brand, Marketing & Corporate Communication, Alero Ladipo, the Group stated that the claims are a deliberate falsehood to mislead the public and cause reputational harm.
“The attention of UBA Group has been drawn to a false, defamat]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/social-media-claims-on-tony-elumelu-divorcing-wife-fabricated-reckless-uba/Sun, 03 May 2026 16:19:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/social-media-claims-on-tony-elumelu-divorcing-wife-fabricated-reckless-uba/ The airport has commenced its international operations with a maiden flight as the state governor, Pastor Umo Eno; the aviation minister, Festus Keyamo; and other passengers joined the service to Accra, Ghana.
The minister, speaking during a brief ceremo]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/eno-keyamo-lead-maiden-uyo-accra-flight-from-victor-attah-airport/Sun, 03 May 2026 12:35:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/eno-keyamo-lead-maiden-uyo-accra-flight-from-victor-attah-airport/  
Nigeria’s indigenous oil and gas service providers are set to take the global spotlight as the Petroleum Technology Association of Nigeria (PETAN) leads the country’s charge at the 2026 Offshore Technology Conference (OTC) in Houston, Texas.
With a strong message that local capacity remains the backbone of Nigeria’s energy future, PETAN declared that its participation at OTC 2026 goes beyond routine presence, positioning indigenous companies as key]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/otc-2026-indigenous-firms-take-centre-stage-at-us-oil-amp-gas-expo/Sun, 03 May 2026 04:01:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/otc-2026-indigenous-firms-take-centre-stage-at-us-oil-amp-gas-expo/ By Chinelo Obogo
Air Peace has said that the London to Lagos flight delay of May 1, 2026 was caused by bird strike which damaged the engine of the aircraft.
The airline also denied allegations that its passengers were stranded without communication and provision of necessary car, stating that the narrative does not accurately reflect the full circumstances surrounding the disruption.
Air Peace said the affected flight experienced a bird strike]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/bird-strike-caused-london-lagos-flight-delay-air-peace-says/Sat, 02 May 2026 15:45:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/bird-strike-caused-london-lagos-flight-delay-air-peace-says/ By Chinelo Obogo
The National President of the Air Transport Services Senior Staff Association of Nigeria (ATSSSAN), John Ogbe, has called on President Bola Tinubu to redirect the Minister of Finance, Taiwo Oyedele, to implement the approval he granted in May 2025 and conveyed to the Minister of Aviation and Aerospace Development, Festus Keyamo in June, for the settlement of the outstanding exit benefits of the ex-Nigeria Airways sta]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/direct-finance-minister-to-pay-ex-nigeria-airways-staff-their-36bn-benefits-ogbe-union-leader-urges-tinubu/Sat, 02 May 2026 15:37:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/direct-finance-minister-to-pay-ex-nigeria-airways-staff-their-36bn-benefits-ogbe-union-leader-urges-tinubu/ The Nigeria Customs Service Seme Area Command has concluded plans to eradicate trade hindrances affecting the free movement of goods and services along the Lagos-Abidjan business corridor through collaboration and engagement with critical stakeholders.
The Area Controller made this known during a series of familiarisation visits to the Palace of traditional rulers and heads of sister security agencies signifying commitment to achieving the goals and objectives of the Service in l]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/seme-customs-to-eradicate-trade-barriers-along-border-corridor/Sat, 02 May 2026 13:32:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/seme-customs-to-eradicate-trade-barriers-along-border-corridor/ Access Holdings Plc and Coronation Group have emphasised the role of cultural capital in national development.
The duo stressed that economic growth must be supported by investment in art and identity.
The position was expressed during a World Art Day virtual session held with Tate Modern.
Chief Communications and Marketing Officer of Coronation Group, Ngozi Akinyele, said national prosperity extends beyond financial metrics to include cultural and intellectual capital. She no]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/access-coronation-push-cultural-capital-for-national-growth/Sat, 02 May 2026 04:32:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/access-coronation-push-cultural-capital-for-national-growth/ Ekpo stated this in his welcome address at the opening of the 21st Pipeline Technology Conference in Berlin, Germany.  The minister outlined the country’s gas development plans against the backdrop of shifting global energy needs.
According]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-expands-gas-pipeline-network-to-meet-local-global-demand/Sat, 02 May 2026 04:02:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-expands-gas-pipeline-network-to-meet-local-global-demand/ The Group delivered a resilient performance during the year, navigating a transitional operating environment while demonstrating the strength of its franchise and the robustness of the governanc]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/access-holdings-posts-n1trn-pbt-prioritises-value-creation/Sat, 02 May 2026 03:31:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/access-holdings-posts-n1trn-pbt-prioritises-value-creation/ He gave the charge in Abuja on Thursday while addressing Chief Executive Officers of fintechs at an industry engagement meeting held at the corporate headquarters of the commission.
 
Olukoyede applauded the corporate office executives on their strides in openin]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/one-mishandled-transaction-can-damage-your-reputation-efcc-boss-warns-fintechs/Fri, 01 May 2026 10:43:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/one-mishandled-transaction-can-damage-your-reputation-efcc-boss-warns-fintechs/https://www.newslocker.com/en-ng/news/nigeria-economy-news/why-agriculture-must-wear-a-new-face-xtralarge-boss/Fri, 01 May 2026 08:52:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/why-agriculture-must-wear-a-new-face-xtralarge-boss/ Following the recent banking recapitalisation exercise, the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has maintained that as Nigeria enters a new phase, the role of directors becomes even more critical.
The CBN Governor, who was represented by the Director of the Banking Supervision Department (BSD) at the apex bank, Dr Olubukola Akinwunmi Akinniyi, made this known at the induction ceremony of 300 new members of the Chartered Institute of Directors Nigeria (C]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/post-recapitalisation-cardoso-charges-newly-inducted-directors-on-consolidation-confidence-stability/Fri, 01 May 2026 08:52:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/post-recapitalisation-cardoso-charges-newly-inducted-directors-on-consolidation-confidence-stability/https://www.newslocker.com/en-ng/news/nigeria-economy-news/fct-court-dismisses-suit-against-parallex-bank/Fri, 01 May 2026 08:47:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fct-court-dismisses-suit-against-parallex-bank/https://www.newslocker.com/en-ng/news/nigeria-economy-news/lcci-tasks-fg-on-weak-budget-execution-delays-in-fund-releases/Fri, 01 May 2026 08:37:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/lcci-tasks-fg-on-weak-budget-execution-delays-in-fund-releases/https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-petrol-marketers-take-advantage-of-momentary-rise-in-oil-prices/Fri, 01 May 2026 08:33:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-petrol-marketers-take-advantage-of-momentary-rise-in-oil-prices/  
By Bimbola Oyesola
As Nigeria joins the rest of the world to mark International Workers’ Day today, a troubling reality confronts millions of workers: the promise of decent work is steadily slipping out of reach. Across sectors, from agriculture to banking, insecurity, rising poverty and weakening labour protections are converging to erode not just jobs, but the dignity of work itself.
President Tinubu
 
For an average Nigerian workers like Ade Oladimeji (not real name)]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/how-insecurity-poverty-undermining-decent-work-in-nigeria/Fri, 01 May 2026 04:49:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/how-insecurity-poverty-undermining-decent-work-in-nigeria/ Today Friday 1st of May marks 2026 Workers’ Day. A day globally sets aside to celebrate the dignity of labour as a critical factor of development. This year’s May Day in Nigeria assumes triple importance of history,  relevance (workers’ welfare) and democratic context (2027 presidential and state elections!).Going down the memory lane
First the history. 2026 May Day marks the 46th anniversary of workers’ Day as a public holiday in Nigeria. That if we (date) c]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/2026-may-day-why-labour-matters-in-2027-polls/Fri, 01 May 2026 04:24:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/2026-may-day-why-labour-matters-in-2027-polls/ After three years at the helm of Association of Senior Staff of Banks Insurance and Financial Institutions (ASSBIFI),  Oluwole Olusoji speaks with the calm of a man who has stepped out of the storm—but not away from the struggle. Now balancing his role within the Trade Union Congress (TUC), he describes his transition as “a bit lighter,” a rare breathing space that allows him to reflect not just on leadership, but on the deeper realities facing Nigerian workers. Ye]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/we-have-people-in-positions-of-authority-who-are-not-walking-the-talk-oluwole-olusoji-immediate-past-presidemt-assbifi-tuc-deputy-president/Fri, 01 May 2026 04:21:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/we-have-people-in-positions-of-authority-who-are-not-walking-the-talk-oluwole-olusoji-immediate-past-presidemt-assbifi-tuc-deputy-president/  
By Chukwuma Umeorah
 
It was never meant to unfold this way. A sudden leadership transition, triggered by a court order and a resignation, thrust Nike Joseph into the role of Acting President of the Association of Senior Staff of Banks Insurance and Financial Institutions (ASSBIFI). What could have been a moment of instability has instead become a test of continuity—one she insists the union is passing. Drawing]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/at-the-end-of-it-all-recapitalisation-should-strengthen-banks-assbifi-ag-president-nike-joseph/Fri, 01 May 2026 04:16:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/at-the-end-of-it-all-recapitalisation-should-strengthen-banks-assbifi-ag-president-nike-joseph/ By Bimbola Oyesola
Over the past year, the National Union of Chemical Footwear Rubber Leather and Non-Metallic Products Employees (NUCFRLANMPE)’s trajectory has been closely tied to the health of the industry it represents. According to the President, Bolarinwa Sunday, when employers perform well, the union is better positioned to advocate effectively for workers. Encouragingly, recent feedback from manufacturers suggests a gradual economic rebound compared to the previous year, of]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/may-day-in-nigeria-many-workers-are-enduring-than-celebrating-bolarinwa-sunday-nucfrlanmpes-president/Fri, 01 May 2026 04:12:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/may-day-in-nigeria-many-workers-are-enduring-than-celebrating-bolarinwa-sunday-nucfrlanmpes-president/ By Bimbola OyesolaAs Nigeria marks Workers’ Day, the President of the Chemical and Non-Metallic Senior Staff Association (CANMPSSAN), Segun Samson David, paints a stark picture of the realities facing workers in the sector. Over the past year, employees have grappled with job losses, redundancies, and widespread economic pressure driven by inflation, high operational costs, and unstable government policies. Many companies are struggling to stay afloat, with some entering receiversh]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/we-need-a-salary-re-adjustment-that-will-meet-the-current-economic-reality-segun-samson-david-canmpssan-president/Fri, 01 May 2026 04:09:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/we-need-a-salary-re-adjustment-that-will-meet-the-current-economic-reality-segun-samson-david-canmpssan-president/ Stakeholders in academia and regional development have said the South East stands to gain significantly from improved maritime systems, stressing that better logistics, infrastructure, and policy implementation could unlock economic growth across the region.
This was the central message at the 3rd International Conference of the Institute of Maritime Studies, University of Nigeria, Enugu Campus, where participants examined how maritime development ca]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/maritime-reforms-key-to-unlocking-south-east-economy-experts/Fri, 01 May 2026 02:42:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/maritime-reforms-key-to-unlocking-south-east-economy-experts/ By Chinelo Obogo    
talktonelo@yahoo.comChairman, United Nigeria Airlines, Prof. Obiora Okonkwo, gave a brutal assessment of Nigeria’s aviation industry at this week’s International Air Transport Association (IATA) conference in Addis Ababa, Ethiopia.Speaking as a panelist, Okonkwo described the industry as one battling severe structural and economic headwinds, with domestic airlines now operating on the brink of collapse]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/at-iata-summit-una-chairman-exposes-challenges-crippling-nigerias-aviation-industry/Fri, 01 May 2026 02:23:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/at-iata-summit-una-chairman-exposes-challenges-crippling-nigerias-aviation-industry/ By Chinelo Obogo
 
A former Vice President at Arik Air and Africa Representative for Moov AG, Lanre Bamgbose, has said that single-digit financing for Nigerian airlines is nothing more than a palliative. Speaking to Daily Sun on the industry’s festering crisis, Bamgbose said that high and volatile fuel costs, naira-dollar currency mismatches, multiple taxation, duplicated charges, and a fragmented market are some of the m]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/single-digit-loans-cant-save-nigerian-airlines-bamgbose-ex-arik-air-vp/Fri, 01 May 2026 02:20:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/single-digit-loans-cant-save-nigerian-airlines-bamgbose-ex-arik-air-vp/ Speaking at the Chartered Institute of Directors Nigeria (CIoD) New Members’ Induction Ceremony in Lagos, Cardoso said the recent banking recapitalisation exercise was]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/cardoso-to-directors-recapitalisation-must-deliver-stability-not-only-bigger-balance-sheets/Fri, 01 May 2026 02:16:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cardoso-to-directors-recapitalisation-must-deliver-stability-not-only-bigger-balance-sheets/ The report, scheduled for unveiling on Tuesday, in Abuja, is expected to introduce a structured, data-driven framework for evaluating how firms perform across key environmental, social and governance (ESG) indicators.
With the theme, &ld]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/new-report-to-track-sustainability-performance-of-nigerian-firms/Fri, 01 May 2026 02:15:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/new-report-to-track-sustainability-performance-of-nigerian-firms/ As the world observes the 2026 International Workers’ Day, the company acknowledged the indispensable role of labour as the unseen engine that keeps the machinery of national advancement in measured, purposeful motion.
Globacom, in a statement issued on Thursday, appreciated the role of labour in oiling Nigeria’s wheel of development and also affirmed their im]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/glo-commends-nigerian-workers-on-may-day/Fri, 01 May 2026 02:12:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/glo-commends-nigerian-workers-on-may-day/ The Grant Award Ceremony, held at the Transcorp Hilton Hotel in Abuja, attracted a wide spectrum of Nigeria’s political leaders, business executives, clergy, and entertainment figures, all gathered to witness what was described as a significant push t]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/jerry-eze-foundation-empowers-240-smes-with-n1bn-grants/Fri, 01 May 2026 02:11:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/jerry-eze-foundation-empowers-240-smes-with-n1bn-grants/ By Adewale Sanyaolu
The lingering fuel crisis worsened yesterday as petrol price rose sharply at the pumps.Motorists at various filling stations voiced anger and frustration over the matter when they discovered the product sold at N1,325 per litre at NNPC outlets.
The hike is in response to the increase in the gantry price of the commodity by the Dangote Refinery from N1,200 to N1,275 per litre, while coastal supply prices raced to N1,215 per lit]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/motorists-groan-as-petrol-price-nears-n1400/Fri, 01 May 2026 01:52:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/motorists-groan-as-petrol-price-nears-n1400/https://www.newslocker.com/en-ng/news/nigeria-economy-news/opay-signs-new-mous-with-4-more-schools-expands-access-to-n12bn-10-year-scholarship-programme/Fri, 01 May 2026 01:48:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/opay-signs-new-mous-with-4-more-schools-expands-access-to-n12bn-10-year-scholarship-programme/ In an internal communication to staff, the company said the decision followed an extensive review process and numerous appeals from respected individuals, stakeholders, and the engineers. The refinery noted that while earlier actions were taken to protect o]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/dangote-refinery-recalls-redeployed-engineers/Fri, 01 May 2026 01:47:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/dangote-refinery-recalls-redeployed-engineers/ I sat through the opening address at the commissioning of the Nigeria Revenue Service headquarters with a mix of curiosity and cautious optimism. Government speeches often lean heavily on ceremony and praise, but this one felt different. It was deliberate, structured, and most importantly, anchored in policy implementation and formulation. It did not just celebrate a building. It attempted to explain a shift in how Nigeria thinks about revenue, governance, and institutional]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/adedeji-unveils-blueprint-for-smarter-revenue-stronger-institutions/Fri, 01 May 2026 01:45:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/adedeji-unveils-blueprint-for-smarter-revenue-stronger-institutions/https://www.newslocker.com/en-ng/news/nigeria-economy-news/meta-shares-plummet-near-10-after-earnings-google-skyrockets/Thu, 30 Apr 2026 16:19:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/meta-shares-plummet-near-10-after-earnings-google-skyrockets/ The Association of Telecommunication Companies of Nigeria (ATCON) has announced support for a $900 million broadband expansion initiative, positioning local Internet Service Providers (ISPs) as central to driving Nigeria’s digital economy and nationwide connectivity.
Speaking at the association’s Annual General Meeting (AGM), Thursday in Lagos, ATCON President, Tony Emoekpere, said the success of Nigeria’s digital economy will depend on how effectively indig]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/900m-broadband-push-atcon-bets-on-local-isps-to-transform-economy/Thu, 30 Apr 2026 15:49:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/900m-broadband-push-atcon-bets-on-local-isps-to-transform-economy/https://www.newslocker.com/en-ng/news/nigeria-economy-news/afan-to-fg-create-national-committee-to-curb-farmerherder-clashes/Thu, 30 Apr 2026 08:18:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/afan-to-fg-create-national-committee-to-curb-farmerherder-clashes/https://www.newslocker.com/en-ng/news/nigeria-economy-news/shareholders-endorse-ngx-groups-bonus-shares-dividend-payout-others/Thu, 30 Apr 2026 08:13:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/shareholders-endorse-ngx-groups-bonus-shares-dividend-payout-others/https://www.newslocker.com/en-ng/news/nigeria-economy-news/waltersmith-upgraded-facility-catalyzed-scalable-refining-operation-to-10000bdp/Thu, 30 Apr 2026 08:09:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/waltersmith-upgraded-facility-catalyzed-scalable-refining-operation-to-10000bdp/https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-infrastructure-spend-to-hit-40bn-by-2050-pwc/Thu, 30 Apr 2026 08:04:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-infrastructure-spend-to-hit-40bn-by-2050-pwc/ Nigeria’s worsening food inflation crisis is being amplified by global oil market turmoil, with the cost of preparing a pot of jollof rice rising more than 50 per cent in dollar terms over the past three years, a report by SBM Intelligence, said on Wednesday.
The report titled; SBM Jollof Index Q1 2026: From Hormuz to the pot, noted that what appears to be a local food affordability issue is increasingly a story of how external shocks, particularly disruptions linked t]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/food-belts-under-pressure-as-oil-turmoil-drives-jollof-costs-50/Thu, 30 Apr 2026 04:45:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/food-belts-under-pressure-as-oil-turmoil-drives-jollof-costs-50/ Speaking during a radio programme hosted by Jimi Disu, Adebayo addressed widespread complaints over the N6.98 USSD charge, particularly in cases where banking transacti]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/telcos-deny-blame-over-failed-ussd-charges-fault-banks/Thu, 30 Apr 2026 04:43:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/telcos-deny-blame-over-failed-ussd-charges-fault-banks/ Omorojie, a casual worker in Environment Department of the Federal Airport Authority of Nigeria, found the items at the check-in counter of Rwanda Air and handed them over  to Aviation Security (AVSEC) officials.
Following standard pr]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-airport-worker-returns-lost-purse-with-1700-travel-documents-intact/Thu, 30 Apr 2026 04:42:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-airport-worker-returns-lost-purse-with-1700-travel-documents-intact/ At the meeting which held in Lagos on Wednesday, investors also ratified the audited financial statements for the year ended December 31, 2025, and approved an increase in share capital to accommodate the bonus issue. The re-ele]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/investors-back-ngx-leadership-approve-dividend-bonus-issue/Thu, 30 Apr 2026 04:41:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/investors-back-ngx-leadership-approve-dividend-bonus-issue/ By Merit Ibe                                              ibe.merit@yahoo.com 
 
Before Nigeria economically hurt itself with crude oil addiction in the 60s and 70s, industrial clusters literally buoyed the economy.From Aba’s once-thriving shoe and garment hubs to Kano’s fading textile base and Nnewi’s manufacturing belt, ma]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/why-nigerias-industrial-clusters-are-crawling-crumbling/Thu, 30 Apr 2026 04:12:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/why-nigerias-industrial-clusters-are-crawling-crumbling/ Lagos State Government has launched an Industrial Policy (2025–2030) designed to reposition the state as Africa’s leading industrial hub, with a strong focus on boosting productivity, attracting investment and significantly increasing its contribution to national Gross Domestic Product.
The policy, which sets out a five-year roadmap for economic transformation, targets long-standing structural bottlenecks that have constrained industrial growth, including erratic power s]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-rolls-out-5-year-plan-to-become-africas-manufacturing-capital/Thu, 30 Apr 2026 04:10:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-rolls-out-5-year-plan-to-become-africas-manufacturing-capital/ The Managing Director of Rite Foods Limited, Seleem Adegunwa, has been named Industrialist of the Year by Vanguard Media Limited, in recognition of his leadership, entrepreneurial foresight, and the company’s disruptive impact on Nigeria’s fast-moving consumer goods (FMCG) sector.
The award was presented at a ceremony held in Lagos recently. The event drew an influential audience of business leaders, policymakers, and industry stakeholders, highlighting the signif]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/rite-foods-md-adegunwa-bags-award/Thu, 30 Apr 2026 04:09:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/rite-foods-md-adegunwa-bags-award/  
The Project Management Institute (PMI) global summit series is set to hold in Cape Town, South Africa.
According to PMI, the summit will take place from 14 to 15 September 2026 at the Cape Town International Convention Centre, noting that registration is now open, with discounted rates available for early birds until 12 May 2026. 
Themed: “Africa Delivers MORE Together” it reflects a fundamental shift in how projects are delivered today.At its c]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/pmi-to-host-global-summit-series-in-cape-town/Thu, 30 Apr 2026 04:08:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/pmi-to-host-global-summit-series-in-cape-town/ By Uche Usim
Nigeria’s economy slowed down in April 2026 after more than a year of steady growth.According to a Central Bank of Nigeria report released yesterday, business activity dropped to 49.4 on the Purchasing Managers’ Index scale, which signals a contraction because anything below 50 means the economy is shrinking rather than growing.
The decline was mainly felt in industries and services, where businesses red]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-economy-contracted-in-april-fell-to-494-cbn/Thu, 30 Apr 2026 03:59:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-economy-contracted-in-april-fell-to-494-cbn/ Speaking at the Kenya Mining Investment Conference and Exhibition 2026, Dr. Alake said Africa stands at the centre of a new industrial era driven by critical minerals, clean energy technologies, digital transformation and advanced m]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/alake-seeks-continental-alliance-to-unlock-mineral-value-chain/Thu, 30 Apr 2026 03:57:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/alake-seeks-continental-alliance-to-unlock-mineral-value-chain/ Shareholders of Nigerian Aviation Handling Company (NAHCO) Plc have more than doubled the value of their investments within the first four months of 2026, as the company’s shares rallied 124.07 per cent on the back of strong earnings and improved operational performance.
Trading data on the Nigerian Exchange (NGX) showed that NAHCO emerged as one of the top-performing stocks, significantly outperforming the market’s average year-to-date return (YTD) of 45.05 per c]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/investors-double-holdings-as-nahco-shares-jump-124/Thu, 30 Apr 2026 03:56:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/investors-double-holdings-as-nahco-shares-jump-124/ The Lagos State Government and the Nigeria Social Insurance Trust Fund (NSITF) have reaffirmed their commitment to improving the welfare and social security of public servants through the Employees’ Compensation Scheme (ECS).
This assurance was given at a workshop themed:  “The Role of the Employee Relations Officer in Ensuring Effective Implementation of the Employees’ Compensation Scheme in Lagos.”
The Managing Director/CEO of NSITF, Oluwaseun Faleye,]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-nsitf-commit-to-enhanced-workforce-welfare-social-security/Thu, 30 Apr 2026 03:55:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-nsitf-commit-to-enhanced-workforce-welfare-social-security/ The turbulence in Nigeria’s petroleum downstream sector deepened yesterday as President Bola Tinubu dismissed the Authority Chief Executive and Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr. Saidu Mohammed.
His removal comes just four months after he took office following the controversial exit of his predecessor, Mr. Farouk Ahmed.
A statement issued by Presidential spokesma]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/tinubu-sacks-nmdpra-ceo-names-abdullahi-umar-as-replacement/Thu, 30 Apr 2026 03:14:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/tinubu-sacks-nmdpra-ceo-names-abdullahi-umar-as-replacement/ The Group Chief Executive Officer of Ethiopian Airlines, Mesfin Tasew, announced the decision on Wednesday during a press briefing at the ongoing International Air Transport Association (IATA) Focus Africa Conference in Addis Ababa, ending years of uncertainty surrou]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ethiopian-airlines-dumps-nigeria-air-expands-operations-in-nigeria/Thu, 30 Apr 2026 03:13:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ethiopian-airlines-dumps-nigeria-air-expands-operations-in-nigeria/ The federal government has stepped up efforts to compel participation in the ongoing nationwide verification and enrolment exercise for treasury-funded civil servants employed before June 30, 2004, as low turnout threatens plans to clear longstanding pension obligations.
The exercise, coordinated by the National Pension Commission (PenCom), is a one-off mandatory programme designed to capture accurate records of eligible workers whose pension benefits ac]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-moves-to-close-pension-gap-orders-pre-2004-workers-to-enrol-online/Thu, 30 Apr 2026 03:12:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-moves-to-close-pension-gap-orders-pre-2004-workers-to-enrol-online/ Amid growing anger from Nigerian bank customers over repeated charges on failed USSD transactions, the Chairman of the Association of Licensed Telecommunications Operators of Nigeria, Engr. Gbenga Adebayo, has insisted that telecommunications operators are not responsible for the controversial deductions.
Speaking during a radio programme hosted by Jimi Disu, Adebayo addressed widespread complaints over the N6.98 USSD charge, particularly in cases where banking transactions f]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/outrage-over-ussd-fees-alton-says-telcos-not-to-blame/Wed, 29 Apr 2026 20:13:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/outrage-over-ussd-fees-alton-says-telcos-not-to-blame/ Nigeria has solidified its position as Africa’s leading Web3 powerhouse, ranking first on the continent and sixth globally in Solana developer share, according to the Q1 2026 Impact Report released by SuperteamNG.
The report highlighted a significant leap in Nigeria’s global tech standing, with Nigerian developers now accounting for 67 per cent of all active Solana talent across Africa.
This dominance highlighted the country’s growing influence in the decent]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-tops-africas-web3-ecosystem-ranks-6th-worldwide/Wed, 29 Apr 2026 20:07:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-tops-africas-web3-ecosystem-ranks-6th-worldwide/ Set for 4 August 2026, the event targets opportunities in climate-smart farming, clean energy, water management, and youth-led eco-businesses, moving beyond discussions to attract ta]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/north-west-climate-summit-to-spark-green-jobs-investments-presidency/Wed, 29 Apr 2026 19:05:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/north-west-climate-summit-to-spark-green-jobs-investments-presidency/https://www.newslocker.com/en-ng/news/nigeria-economy-news/totalenergies-first-quarter-profits-surge-amid-middle-east-war/Wed, 29 Apr 2026 13:20:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/totalenergies-first-quarter-profits-surge-amid-middle-east-war/https://www.newslocker.com/en-ng/news/nigeria-economy-news/jet-a1-middlemen-defy-regulators-pricing-band-raise-price-to-n2230litre/Wed, 29 Apr 2026 08:27:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/jet-a1-middlemen-defy-regulators-pricing-band-raise-price-to-n2230litre/https://www.newslocker.com/en-ng/news/nigeria-economy-news/value-addition-innovation-key-to-nigerias-industrial-renaissance-dg-rmrdc/Wed, 29 Apr 2026 08:13:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/value-addition-innovation-key-to-nigerias-industrial-renaissance-dg-rmrdc/https://www.newslocker.com/en-ng/news/nigeria-economy-news/tinubu-hails-cardosos-reforms-banking-recapitalisation/Wed, 29 Apr 2026 08:10:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/tinubu-hails-cardosos-reforms-banking-recapitalisation/https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-non-oil-exports-hit-61bn-reach-210-markets/Wed, 29 Apr 2026 08:03:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-non-oil-exports-hit-61bn-reach-210-markets/ The Central Bank of Nigeria (CBN)’s continued restriction of Bureau De Change (BDC) operators from full participation in the official foreign exchange (FX) market is raising fresh concerns about liquidity gaps and rising volatility in the country’s parallel market.
According to BDC operators, the apex bank’s tight control of FX distribution, largely channelled through commercial banks, may be counterproductive, as it leaves a critical segment of retail dema]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbns-grip-on-fx-market-may-fuel-volatility-at-parallel-markets-bdcs/Wed, 29 Apr 2026 03:37:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbns-grip-on-fx-market-may-fuel-volatility-at-parallel-markets-bdcs/ The firm has exceeded the Securities and Exchange Commission’s (SEC) N2 billion recapitalisation threshold, posting capital in excess of N2.5 billion and shareholders’ funds of over N20 billion, well ahead of regulatory timeline]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/stl-trustees-hits-n25bn-capital-celebrates-30-years-eyes-africa-expansion/Wed, 29 Apr 2026 03:36:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/stl-trustees-hits-n25bn-capital-celebrates-30-years-eyes-africa-expansion/ Speaking at the event, the Director of Consumer Protection and Fi]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/global-money-week-cbn-pushes-responsible-financial-behaviour-among-youths/Wed, 29 Apr 2026 03:34:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/global-money-week-cbn-pushes-responsible-financial-behaviour-among-youths/ Speaking after receiving the award, Okunbo described the recognition as unexpected and reflective of a family milestone. “I feel very honored and humbled by it. It’s definitely something I didn’t really expect. It’s a full circle moment]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/okunbo-bags-young-entrepreneur-award-highlights-sme-financing-needs/Wed, 29 Apr 2026 03:33:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/okunbo-bags-young-entrepreneur-award-highlights-sme-financing-needs/ By Adewale Sanyaolu
Nigeria’s oil revenue is facing fresh uncertainty following the United Arab Emirates’ decision to quit the Organisation of Petroleum Exporting Countries (OPEC).
The move, experts warn, could unsettle global crude prices and weaken market stability.The UAE, one of the bloc’s major producers with significant spare capacity, may ramp up output outside OPEC quotas, increasing supply and putting]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-crude-revenue-threatened-as-uae-exits-opec/Wed, 29 Apr 2026 03:25:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-crude-revenue-threatened-as-uae-exits-opec/ The shareholders yesterday at the GTCO’s 5th Annual General Meeting (AGM) lauded the Group’s impressive 2025 financial year performance and also for meeting the Central Bank of Nigeria (CBN)’s N500billion new minimum capital requirement.]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/gtco-shareholders-laud-record-n1276-dividend-payout/Wed, 29 Apr 2026 03:24:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/gtco-shareholders-laud-record-n1276-dividend-payout/ The Lagos state government has clarified that the ongoing review of its Fair Market Value (FMV) framework popularly known as the Blue Book 2026, is not designed to impose additional financial burdens on residents.
Speaking at a stakeholder engagement held on Tuesday at Adeyemi Bero Hall, Alausa, the Permanent Secretary, Lands Bureau, Kamal Olowosago, said the exercise is aimed at ensuring that land valuation reflects current market realities in a fair, transparent and structure]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/land-charge-review-not-new-financial-burden-lasg/Wed, 29 Apr 2026 03:23:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/land-charge-review-not-new-financial-burden-lasg/ As part of its strong participati]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/opay-leads-conversation-on-africas-next-financial-frontier-at-businessday-fintech-summit-2026/Wed, 29 Apr 2026 03:22:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/opay-leads-conversation-on-africas-next-financial-frontier-at-businessday-fintech-summit-2026/ The commendation came at the bank’s maiden Autism Stakeholders Roundtable and Policy Dialogue held in Lagos on Friday.
Organised in partnership with the Private Sector Health Alliance of Nigeria (PSHAN), Eliakim Foundation and Sterling O]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/stakeholders-back-altbanks-autism-support-initiative/Wed, 29 Apr 2026 03:20:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/stakeholders-back-altbanks-autism-support-initiative/ •Stakeholders hail NPA’s moves to revive region
 
 
By Steve Agbota                                   styvenchy@yahoo.com 
For years, Lagos ports have dominated Nigeria’s maritime traffic, handling over 90 per cent of cargo volumes and overshadowing eastern ports. This imbalance has been driven largely by insecurit]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/insecurity-high-charges-force-shipping-lines-to-dump-eastern-ports/Wed, 29 Apr 2026 03:10:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/insecurity-high-charges-force-shipping-lines-to-dump-eastern-ports/  
Key stakeholders in the maritime sector are excited as the Senate, on Tuesday, passed the Nigerian Port Economic Regulatory Agency Bill, 2026 during a plenary session in Abuja.
The passage of the bill followed a motion moved by the Senate Leader, Sen. Opeyemi Bamidele (Ekiti Central) and seconded by the Minority Leader, Sen. Abba Moro (Benue South).
The lawmakers had, before consideration, rescinded their earlier decision on the bill, as previously passed and transmitted t]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/excitement-as-senate-passes-nigerian-port-economic-regulatory-agency-bill/Wed, 29 Apr 2026 03:08:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/excitement-as-senate-passes-nigerian-port-economic-regulatory-agency-bill/  
Nigerdock has marked its 40th anniversary, celebrating four decades of resilience, continuous reinvestment, and growth from ship repair and fabrication into a regional hub for port operations, logistics support, and free zone services.
Commenting on the landmark anniversary, Nigerdock’s CEO, Maher Jarmakani, said the company remains committed to excellence, developing local talent with world-class systems, and contributing to Nigeria’s economic growth through c]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerdock-celebrates-40-year-operational-milestone/Wed, 29 Apr 2026 03:07:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerdock-celebrates-40-year-operational-milestone/  
National Insurance Commission (NAICOM) and the National Space Research and Development Agency (NASRDA) have forged a strategic partnership aimed at leveraging geospatial data and satellite technology to expand insurance access, strengthen enforcement, and enhance risk management across Nigeria’s insurance ecosystem. A statement from NAICOM confirmed this development.The collaboration was reached during a high‑level engagement between both institutions, seeks to d]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/naicom-nasrda-partner-to-boost-insurance-sector/Wed, 29 Apr 2026 03:03:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/naicom-nasrda-partner-to-boost-insurance-sector/  
Nigeria’s telecom discourse is currently centred on one issue: compensation.Airtime credits, refund disputes and growing consumer frustration have dominated the headlines.Yet, beyond the noise, a far more key transformation is taking shape and for experts, it could fundamentally reshape how Nigerians connect to the internet in the years ahead.
Central to this is a growing consensus among regulators and industry stakeholders that mobile in]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/why-mobile-internet-alone-cant-power-nigerias-digital-future-ncc-experts/Wed, 29 Apr 2026 02:50:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/why-mobile-internet-alone-cant-power-nigerias-digital-future-ncc-experts/ Speaking on evolving trends in Nigeria’s financial technology space, Oduah noted that rising economic uncertainty has made users more risk-conscious, placing greater demand on fintech platforms to deliver transparency, reliability and sec]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/routepay-urges-tech-firms-to-prioritise-trust-inclusion/Wed, 29 Apr 2026 02:49:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/routepay-urges-tech-firms-to-prioritise-trust-inclusion/ Nigeria and South Africa (SA) have renewed commitments to deepen collaboration in telecommunications, digital trade and innovation, positioning technology as a central driver of Africa’s economic transformation.
The pledge was made at the Nigeria–South Africa Economic Diplomacy Roundtable held at the corporate headquarters of MTN Nigeria in Lagos on April 23, where policymakers, regulators and industry leaders converged to explore how digital infrastructure can ac]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-south-africa-cement-digital-alliance-to-unlock-economic-growth/Wed, 29 Apr 2026 02:47:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-south-africa-cement-digital-alliance-to-unlock-economic-growth/  
Platnova Technologies Limited, has called for the development of a unified payments system across Africa to accelerate cross-border transactions and deepen the continent’s digital economy.
The call was made at the BusinessDay Fintech Summit 2026 held in Lagos, where regulators, fintech operators, banks, investors and policymakers gathered to examine the future of Africa’s financial services landscape.
Organised by BusinessDay Media Limited at the Oriental H]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/platnova-champions-unified-african-payments-system/Wed, 29 Apr 2026 02:44:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/platnova-champions-unified-african-payments-system/  
Nigeria’s retail sector is undergoing a technology-driven transformation, with industry leaders highlighting digital payments, data intelligence and platform integration as critical enablers of profitability and long-term growth.
This formed the focus of the Interswitch Retail Summit hosted by Interswitch Group, where stakeholders across the retail and fintech ecosystem gathered to examine how innovation is reshaping commerce in Nigeria.
Anchored on the theme, &l]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/interswitch-highlights-fintech-digital-payments-driving-retail-growth/Wed, 29 Apr 2026 02:42:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/interswitch-highlights-fintech-digital-payments-driving-retail-growth/ The decision, announced on Tuesday, comes as tensions in the Middle East continue to disrupt oil shipping routes, particularly through the Strait of Hormuz, a critical passage for global crude and gas exports.
The UAE said its exit]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/uae-quits-opec-opec-amid-oil-shock-linked-to-iran-war/Tue, 28 Apr 2026 15:28:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/uae-quits-opec-opec-amid-oil-shock-linked-to-iran-war/https://www.newslocker.com/en-ng/news/nigeria-economy-news/fiscal-policy-tariff-amendmentsll-boost-local-manufacturing-cppe/Tue, 28 Apr 2026 14:19:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fiscal-policy-tariff-amendmentsll-boost-local-manufacturing-cppe/https://www.newslocker.com/en-ng/news/nigeria-economy-news/manufacturers-decry-low-export-share-despite-n8513trn-trade-boom/Tue, 28 Apr 2026 14:08:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/manufacturers-decry-low-export-share-despite-n8513trn-trade-boom/https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-spends-6bn-annually-on-imported-clothing/Tue, 28 Apr 2026 13:53:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-spends-6bn-annually-on-imported-clothing/ Akwa Ibom state government has confirmed the commencement of maiden Ibom Air’s International flight from Victor Attah International Airport, Uyo to Accra in Ghana on Saturday 2nd May, 2026 
The state government who are the owners of Ibom Air had earlier scheduled to begin international flight operations on Ist April, 2026 but could not make it due to non completion of technical work at the international wing of the airport.
A statement signed by the Commissioner of]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ibom-air-to-begin-maiden-intl-flight-from-uyo-to-accra-on-saturday/Tue, 28 Apr 2026 13:08:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ibom-air-to-begin-maiden-intl-flight-from-uyo-to-accra-on-saturday/https://www.newslocker.com/en-ng/news/nigeria-economy-news/80-of-businesses-owned-by-women-lack-access-to-formal-credit-fg/Tue, 28 Apr 2026 08:33:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/80-of-businesses-owned-by-women-lack-access-to-formal-credit-fg/ This was the assurance of Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, at the International Monetary Fund (IMF) and World Bank Spring Meetings in Washington earlier this month.At various engagements, he insisted that recent reforms introduced by Nigerian authorities had significantly streng]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/inside-cbns-single-digit-inflation-drive-amid-global-strife/Tue, 28 Apr 2026 04:46:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/inside-cbns-single-digit-inflation-drive-amid-global-strife/ Amid worsening hunger in Nigeria accentuated by growing terrorism and other man-made factors, stakeholders in the agricultural and economic sectors have reasserted that food availability remains a key national security backbone and a fulcrum to bolster socio-economic stability and prosperity.
Their position was condensed at the Vanguar]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/as-hunger-worsens-stakeholders-push-food-security-as-anti-insecurity-strategy/Tue, 28 Apr 2026 04:44:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/as-hunger-worsens-stakeholders-push-food-security-as-anti-insecurity-strategy/ The government explained that the initiative is targeted at equipping every region of the country with tractors across the 774 local government areas and easing upfront costs for farmers, which is in line with its developmental agenda.Vice President Kashim Shettima, who spoke a]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-targets-40000-ton-annual-sesame-output/Tue, 28 Apr 2026 04:42:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-targets-40000-ton-annual-sesame-output/ The move is targeted at positioning the sector as a key pathway toward sustainable development and improved productivity.
The commitment was stated by the Permanent Secretary, Federal Ministry of Livestock Development, Dr. Chinyere Akujobi, during a stakeholders’ engagemen]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/unveils-climate-sensitive-framework-to-drive-livestock-reform/Tue, 28 Apr 2026 04:38:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/unveils-climate-sensitive-framework-to-drive-livestock-reform/ Nigeria’s recent cabinet reshuffle may read like a familiar script, but its implications are anything but routine.In replacing Wale Edun with Taiwo Oyedele as Minister of Finance and Coordinating Minister of the Economy, President Bola Tinubu has made a choice that signals less about political rotation and more about a recalibration of economic priorities at a critical juncture.
The reshuffle, announced last week, also affected the housing ministry and comes at a polit]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/oyedele-time-to-expand-revenue-reduce-borrowing-tackle-inflation/Tue, 28 Apr 2026 04:34:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/oyedele-time-to-expand-revenue-reduce-borrowing-tackle-inflation/ Nigeria’s power sector reforms risk stalling without urgent regulatory clarity and stronger coordination between federal and state governments, a new report by PricewaterhouseCoopers (PwC) has warned.
In its report, titled “Priority actions for the successful evolution of Nigeria’s multi-tier electricity market,” the firm warned that as the country deepens its transition toward a decentralised electricity system, blurred lines bet]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/blurred-regulatory-lines-may-jeopardize-electricity-sector-reforms-pwc/Tue, 28 Apr 2026 04:32:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/blurred-regulatory-lines-may-jeopardize-electricity-sector-reforms-pwc/https://www.newslocker.com/en-ng/news/nigeria-economy-news/8-nigerian-startups-win-n45m/Tue, 28 Apr 2026 04:31:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/8-nigerian-startups-win-n45m/ •NMDPRA pegs fuel at N1,988/ltr in Lagos, N2,037 in Abuja
By Chinelo Obogo  
With Aviation Kerosene (Jet A1) prices soaring to stratospheric heights in recent weeks with no crash in sight, Nigerian airlines have been forced to trim their operations.According to them, the continuous spike in fuel price has pushed operating expenses to unsustainable levels, forcing tough decisions on route frequency and sche]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/jet-a1-price-spike-forces-domestic-airlines-to-trim-operations/Tue, 28 Apr 2026 03:40:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/jet-a1-price-spike-forces-domestic-airlines-to-trim-operations/ This comes as the pan-African lender posted a modest increase in gross earnings to N801.46 billion in the first quarter (Q1) of 2026.
According to its Q1 2026 filed with the Nigerian Exchange Limited (NGX) at the weekend, its Q1 results showed gross earnings rising by 4.9 per cent from N764.31 billion recorded in the corresponding]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/post-recap-uba-prioritises-stability-over-expansion-posts-n801bn-q1-earnings/Tue, 28 Apr 2026 03:37:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/post-recap-uba-prioritises-stability-over-expansion-posts-n801bn-q1-earnings/ The event brought together key stakeholders from Nigeria’s te]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/glovo-others-push-inclusive-smes-growth-in-nigeria/Tue, 28 Apr 2026 03:35:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/glovo-others-push-inclusive-smes-growth-in-nigeria/ The company disclosed this in a statement sent to Daily Sun stating that the acquisition forms part of a broader strategy to build an integrated, efficient and future-ready platform across key operating sectors within the digital econom]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fusewall-holdings-acquires-coloplus-cements-footprint-in-nigeria/Tue, 28 Apr 2026 03:33:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fusewall-holdings-acquires-coloplus-cements-footprint-in-nigeria/ By Chinwendu Obienyi
Despite a $731 million decline in just three weeks, Nigeria’s external reserves remain in a stronger year-on-year (y/y) position, with easing outflows and policy support from the Central Bank of Nigeria (CBN) helping to keep near-term risks in check, though underlying vulnerabilities persist.
The country’s external reserves have come under renewed pressure this month, reversing the modest build-up recorded earlier]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/reserves-stay-strong-despite-731m-erosion/Tue, 28 Apr 2026 03:32:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/reserves-stay-strong-despite-731m-erosion/ To ensure Nigeria attains self sufficiency and increase its refining capacity, the African Export-Import Bank has unveiled plans to finance three new refinery projects in Nigeria.
Afreximbank Senior Executive Vice President, Denys Denya disclosed the bank’s intervention during a virtual media briefing.
He stated that the intervention is designed to address structural supply challenges and reduce exposure to global market disruptions.
Denya added that the decision of the]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/afreximbank-to-finance-3-new-refineries-in-nigeria/Tue, 28 Apr 2026 03:21:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/afreximbank-to-finance-3-new-refineries-in-nigeria/ The official opening ceremony, scheduled to hold on Wednesday, April 29, 2026, is expected to attract senior government officials and regulators from Nigeria and Côte d’Ivoire, continental business leaders and members of the diplomatic community, highlighting the strategic economic ties and investment opportunit]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/zenith-bank-expands-west-africa-reach-launches-cte-divoire-subsidiary/Tue, 28 Apr 2026 03:20:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/zenith-bank-expands-west-africa-reach-launches-cte-divoire-subsidiary/ The Sea Empowerment and Research Centre (SEREC) has said that the cargo delay in Nigeria is largely a documentation and governance problem, not a physical capacity problem.
In its latest policy bulletin titled “From Port Congestion to Documentation Congestion: Rethinking Nigeria’s Trade Delay Narrative,” released by its Head of Research, Dr Eugene Nweke, revealed that Nigeria’s persistent cargo clearance delays may have been misdiagnosed.
SEREC indicated t]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/serec-blames-documentation-governance-lapses-for-port-cargo-delays/Tue, 28 Apr 2026 03:12:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/serec-blames-documentation-governance-lapses-for-port-cargo-delays/https://www.newslocker.com/en-ng/news/nigeria-economy-news/petroleum-outlet-owners-push-for-revival-of-moribund-refineries/Tue, 28 Apr 2026 03:11:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/petroleum-outlet-owners-push-for-revival-of-moribund-refineries/ Nigeria’s startup ecosystem received a significant boost as eight emerging firms secured a combined N45 million in funding at The Gathering on 100, a youth-focused innovation and culture event backed by MTN Nigeria.
The event, held at National Stadium Surulere, brought together startups, creatives, and investors, with the highlight being a competitive pitchathon that tested the viability of early-stage business ideas across sectors including fintech, healthcare, commerc]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-startup-ecosystem-gets-boost-as-eight-firms-win-n45m/Mon, 27 Apr 2026 22:38:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-startup-ecosystem-gets-boost-as-eight-firms-win-n45m/ Ibom Air has lamented spending N7.6 million on aviation fuel per flight and has threatened to suspend operations as the cost of aviation fuel increases daily.
A statement signed by the Group Manager for Marketing and Communications, Mrs Ani Essienette, and made available to journalists in Uyo, stated that the cost of fuelling an aircraft had skyrocketed between January and April.
The statement reads in part:
“The fuel price situation is an unprecedented crisis for Nige]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ibom-air-spends-n76m-on-aviation-fuel-per-flight-warns-of-shutdown/Mon, 27 Apr 2026 16:03:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ibom-air-spends-n76m-on-aviation-fuel-per-flight-warns-of-shutdown/ As part of its strong participati]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/opay-leads-the-conversation-on-africas-next-financial-frontier-at-businessday-fintech-summit-2026/Mon, 27 Apr 2026 10:19:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/opay-leads-the-conversation-on-africas-next-financial-frontier-at-businessday-fintech-summit-2026/https://www.newslocker.com/en-ng/news/nigeria-economy-news/uba-assets-hit-n33trn-sustain-growth-momentum-into-q126/Mon, 27 Apr 2026 08:33:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/uba-assets-hit-n33trn-sustain-growth-momentum-into-q126/https://www.newslocker.com/en-ng/news/nigeria-economy-news/banking-industrial-goods-drive-stock-market-as-investors-gain-n55trn/Mon, 27 Apr 2026 08:26:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/banking-industrial-goods-drive-stock-market-as-investors-gain-n55trn/https://www.newslocker.com/en-ng/news/nigeria-economy-news/judgment-debt-court-restrains-shoprite-directors-from-selling-shares-assets/Mon, 27 Apr 2026 06:08:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/judgment-debt-court-restrains-shoprite-directors-from-selling-shares-assets/ The much anticipated new Eado has finally arrived, joining an array of  Changan sedans, SUVs and pick-ups Mikano Motors is providing in the various segments of Nigeria’s auto market.It is now a more attractive, 1.5-litre, stylish and practical sedan engineered for everyday driving confidence.
  
Designed with a clear focus on reliability, comfort and efficiency, the new Changan Eado blends modern aesthetics with intelligent technology, delivering a refined d]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/new-changan-eado-arrives-with-price-edge-solid-warranty-threatens-tokunbo-market/Mon, 27 Apr 2026 03:46:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/new-changan-eado-arrives-with-price-edge-solid-warranty-threatens-tokunbo-market/ By Chinwendu Obienyi  
in a move aimed at curbing excess liquidity and stabilising the foreign exchange (FX) market, the Central Bank of Nigeria (CBN) intensified its liquidity tightening stance, mopping up an estimated N2.8 trillion from the banking system in a week through a combination of Nigerian Treasury Bills (NTB) and Open Market Operations (OMO) auctions.
The apex bank did that because it was trying to reduce excess cash in th]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-tightens-noose-mops-up-n28trn-from-banks/Mon, 27 Apr 2026 03:46:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-tightens-noose-mops-up-n28trn-from-banks/ Peugeot is participating in the Beijing International Auto Show, reaffirming its global ambition in one of the world’s most influential automotive markets. The show marks a strategic moment for the brand as it accelerates its transformation towards electric and intelligent mobility, combining French design, driving pleasure and advanced technologies.
A global strategic statement
Peugeot’s presence in Beijing is a clear expression of its global strategy. China plays a]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/peugeot-at-beijing-international-motor-show/Mon, 27 Apr 2026 03:44:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/peugeot-at-beijing-international-motor-show/ On April 24, the 18th Auto China 2026 officially opened in Beijing, with Chery unveiling the all-new Chery Tiggo V—a groundbreaking, transformable multi-purpose SUV and the first of its kind in the TIGGO lineup.
The Tiggo V, launched as a “3-in-1” vehicle, bridges conventional automotive categories by combining the functionalities of an SUV, MPV, and pickup. It is the production version of the T1TP concept and reflects Chery’s global brand philosophy, &ld]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/chery-tiggo-v-debuts-as-transformable-3-in-1-family-vehicle-at-beijing-auto-show/Mon, 27 Apr 2026 03:42:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/chery-tiggo-v-debuts-as-transformable-3-in-1-family-vehicle-at-beijing-auto-show/ Carloha Nigeria, the authorised dealer and distributor of Chery vehicles in Nigeria, is set to participate in the upcoming CHERY International Business Summit, taking place from April 22 to 28, 2026, in Beijing, China.The summit, held alongside Auto China 2026 (Beijing Auto Show)—the largest auto show in the world—represents one of the most important global gatherings for Chery and its international partners.
In a media statement, the managing director of Carloha, Mr]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/carloha-nigeria-joins-conversations-at-chery-intl-business-summit-in-china/Mon, 27 Apr 2026 03:33:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/carloha-nigeria-joins-conversations-at-chery-intl-business-summit-in-china/ GUO Transport Company has confirmed the killing of one of its drivers following an armed robbery attack along the Lagos-Benin highway, renewing concerns over persistent insecurity on the busy transport corridor.
In an official statement released by its management, the company disclosed that the incident occurred on Saturday, April 18, 2026, involving a Toyota Hiace bus that had been dispatched empty from Lagos en route to Onitsha.
According to the statement, the vehicle was ambu]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/guo-transport-mourns-slain-driver-urges-action-on-lagos-benin-highway-insecurity/Mon, 27 Apr 2026 03:31:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/guo-transport-mourns-slain-driver-urges-action-on-lagos-benin-highway-insecurity/  
 
As fuel costs fluctuate and concerns about the environment increase, it is helpful to be familiar with all the ways proper maintenance can help you save fuel. Here are a few tips as articulated by Ford Motor Company.
Using the right oil
You can improve your gas mileage by up to two percent by using the manufacturer’s recommended grade of motor oil.* Your recommended grade can be found in your Owner Guide, but it can vary depending on your driving conditions.]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fuel-saving-tips/Mon, 27 Apr 2026 03:29:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fuel-saving-tips/ In his]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/maritime-chiefs-to-fg-fix-rail-power-tech-if-you-want-smart-ports/Mon, 27 Apr 2026 03:23:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/maritime-chiefs-to-fg-fix-rail-power-tech-if-you-want-smart-ports/ The investment is designed to tilt the balance from imports to local production.
Financed by First City Monument Bank (FCMB) and the Bank of Industry (BoI), the facility delivers industrial-scale output: more than 400 million tablets, 50 million capsules, two million bottles of syrup, and one million pouches]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/sam-pharmas-ogun-plant-bolsters-nigerias-pharmaceutical-independence-drive/Mon, 27 Apr 2026 03:22:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/sam-pharmas-ogun-plant-bolsters-nigerias-pharmaceutical-independence-drive/ The investiture ceremony, attended by leading figures from the legal, business, academic and government spheres, marked a sig]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/aldrap-honours-nigerian-icons/Mon, 27 Apr 2026 03:18:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/aldrap-honours-nigerian-icons/ Chairman, Alliance for Economic Research and Ethics and former President, Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture,
Kelvin Oye, has revealed that Nigeria has lost over $76 billion in a sustained pattern of failed government business ventures.
He made the disclosure in a new policy document at the 2026 Vanguard Newspaper Conference held in Lagos.
According to him, the figure represents cumulative losses from dec]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-lost-76bn-on-failed-state-businesses-oye-ex-naccima-president/Mon, 27 Apr 2026 03:15:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-lost-76bn-on-failed-state-businesses-oye-ex-naccima-president/ The March figure was disclosed in a communiqué issued after FAAC’s April meeting in Abuja, where a total of N2.036 trillion was shared among the three tiers of government.
A comparative analysis indicates that while the cost of]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/n81bn-spent-on-revenue-collection-in-march-faac/Mon, 27 Apr 2026 03:13:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/n81bn-spent-on-revenue-collection-in-march-faac/ NVMA also complained about what it called structural neglect and suggested a full implementation of the National Veterinary Policy, adequate staffing of veterinary departments at both state and local government levels and su]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/antibiotic-abuse-quack-vets-threatening-livestock-survival-nvma/Mon, 27 Apr 2026 03:12:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/antibiotic-abuse-quack-vets-threatening-livestock-survival-nvma/ The post, which has been widely shared on social media, alleged that owners of private, commercial and corporate vehicles would be required to pay a fresh levy online or through designated banks and agencies. It also falsely directed the public to a website presented as an official ta]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-no-new-vehicle-tax-introduced-debunks-online-infographics/Mon, 27 Apr 2026 03:11:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-no-new-vehicle-tax-introduced-debunks-online-infographics/ Bagudu made the revelation during a weekend engagement with members of the National Councillors’ Forum of Nigeria (NCFN), w]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/10m-nigerians-to-benefit-from-fgs-poverty-reduction-initiatives-bagudu/Mon, 27 Apr 2026 03:09:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/10m-nigerians-to-benefit-from-fgs-poverty-reduction-initiatives-bagudu/ The Lagos state government is set to overhaul water transportation with electric ferries, expanded waterways, and integrated links with road and rail systems under a five-year mobility plan aimed at safer, cheaper and more sustainable travel.
The Special Adviser to the Governor on Marine and Blue Economy, Mr Oluwadamilola Emmanuel, disclosed this on Thursday in Lagos during a meeting with members of the Shipping Correspondent Association of Nigeria (SCAN), led by its President,]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-turns-to-electric-ferries-to-ease-transport-chaos/Mon, 27 Apr 2026 03:07:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-turns-to-electric-ferries-to-ease-transport-chaos/ The Nigerian equities market may be entering a phase of slower gains as investors increasingly lock in profits following a sustained rally that has pushed key performance indicators to elevated levels.
Market data for the week ended April 24, 2026 showed that the benchmark All-Share Index rose by 3.94 per cent to close at 225,722.49 points, while market capitalisation increased to N145.34 trillion, extending the year-to-date (YTD) return to 45.05 per cent.Analysts said the pa]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/equities-rally-may-moderate-as-investors-begin-profit-taking/Mon, 27 Apr 2026 03:02:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/equities-rally-may-moderate-as-investors-begin-profit-taking/  
United Capital Plc reported its strongest financial performance to date for the 2025 financial year, with profit after tax rising by 17 per cent to N28.15 billion, driven by higher trading income and growth in fee-based activities.
Financial statements presented at the company’s annual general meeting in Abuja showed that gross revenue increased by 35 per cent to N58.55 billion from N43.43 billion recorded in 2024. Profit before tax rose by 37 per cent to N41.18]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/united-capital-records-highest-ever-earnings-as-profit-hits-n2815bn/Mon, 27 Apr 2026 03:01:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/united-capital-records-highest-ever-earnings-as-profit-hits-n2815bn/ The Nigerian Exchange Limited has honoured the outgoing 13th President and Chairman of Council of the Chartered Institute of Stockbrokers, Oluropo Dada, for his contributions to the development of Nigeria’s capital market, as stakeholders reviewed his tenure and called for sustained industry collaboration.
Dada rang the ceremonial closing gong at the Exchange, a recognition reserved for individuals considered to have made notable contributions to the market. He assumed]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ngx-honours-ex-president-over-capital-market-devt/Mon, 27 Apr 2026 02:58:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ngx-honours-ex-president-over-capital-market-devt/  
Seplat Energy Plc has secured a top corporate reporting award as its share price crossed the N10,000 threshold on the Nigerian Exchange, reflecting increased investor demand and improved market perception of its governance and earnings outlook.
The company’s stock rose to about N10,450 on April 14, becoming the first listed firm on the Nigerian Exchange Limited to trade above the N10,000 mark. Market participants attributed the movement to institutional buying li]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/seplat-energy-wins-governance-award-as-share-price-tops-n10000/Mon, 27 Apr 2026 02:56:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/seplat-energy-wins-governance-award-as-share-price-tops-n10000/ The apex bank in a circular issued recently, said the new framework provides a comprehensive list of allowable charges for services rendered by banks, fintech firms, and other regulated financial institutions, while als]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-seeks-uniformity-in-charges-across-financial-system/Mon, 27 Apr 2026 02:05:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-seeks-uniformity-in-charges-across-financial-system/ Speaking after the March 31, 2026 deadline for bank recapitalisation, the President described Cardoso as “committed and focused,” noting that recent policy shifts, particularly in foreign exchange management and stricter regulatory oversight, are laying the groundwork for l]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/as-tinubu-lauds-cardosos-reforms-bank-recapitalisation/Mon, 27 Apr 2026 02:04:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/as-tinubu-lauds-cardosos-reforms-bank-recapitalisation/ Lagos State Government has signed a landmark Power Purchase Agreement (PPA) with three electricity generation companies in a strategic move to significantly boost energy supply and strengthen the state’s power infrastructure.
The agreement, signed on Sunday at Lagos House, Marina, was witnessed by Governor Babajide Sanwo-Olu, while the Commissioner for Energy and Mineral Resources, Abiodun Ogunleye, signed on behalf of the state government.
The partner firms—Mainlan]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-seals-power-deal-with-3-firms-eyes-400mw/Mon, 27 Apr 2026 02:03:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-seals-power-deal-with-3-firms-eyes-400mw/ In a policy brief on aviation debt relief, the Centre praised Bola Ahmed Tinubu for approving a 30 percent discount on debts owed by domestic airlines, describing the move as timely support for operators facing rising and unsustainable co]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/cppe-seeks-aviation-cost-reset-to-ease-airlines-burden/Mon, 27 Apr 2026 02:03:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cppe-seeks-aviation-cost-reset-to-ease-airlines-burden/ The Lagos State Government has signed a landmark Power Purchase Agreement (PPA) with three electricity generation companies in a strategic move to significantly boost energy supply and strengthen the state’s power infrastructure.
The agreement, signed on Sunday at Lagos House, Marina, was witnessed by Governor Babajide Sanwo-Olu, while the Commissioner for Energy and Mineral Resources, Abiodun Ogunleye, signed on behalf of the state government.
The partner firms—Ma]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-seals-power-deal-with-three-firms-to-raise-supply-to-400mw/Sun, 26 Apr 2026 16:12:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-seals-power-deal-with-three-firms-to-raise-supply-to-400mw/ “Road Trip” captures a relatable family adventure filled with laughter and authentic moments. The story follows Toyin Abraham Ajeyemi as she experiences the frustration of poor signal—only to find that s]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/globacom-unveils-two-new-tvcs-showcasing-the-future-of-connectivity/Sun, 26 Apr 2026 03:24:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/globacom-unveils-two-new-tvcs-showcasing-the-future-of-connectivity/  
The Trade Union Congress (TUC) Lagos State Council has accused its national leadership of attempting to impose a parallel executive on the state council, insisting that its current leadership emerged through a valid electoral process and remains the legitimate authority representing workers in Lagos.
In a communique issued after its State Executive Council (SEC) meeting, the council reaffirmed that its leadership, led by Comrade Abiodun Aladetan, was “duly and va]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/tuc-lagos-accuses-national-body-of-imposing-leadership/Sun, 26 Apr 2026 03:10:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/tuc-lagos-accuses-national-body-of-imposing-leadership/ As the global anime market targets $60 billion by 2030, Africa’s most established anime community platform moves to secure direct access to Japanese IP holders starting in Nigeria.
Across African entertainment markets, the demand for Japanese anime and pop culture has scaled rapidly, yet the infrastructure for direct engagement and licensed distribution has remained largely underdeveloped. AniWe, a community-driven universe that has grown into a recognized hub for anime culture in N]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-growing-anime-market-prompts-strategic-partnerships/Sat, 25 Apr 2026 12:35:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-growing-anime-market-prompts-strategic-partnerships/ The United States is ramping up its push to deepen agricultural trade with Nigeria by reviving and expanding a key financing pipeline designed to unlock billions in cross-border deals and stabilise food supply chains.
It is powered by the U.S. Department of Agriculture’s Export Credit Guarantee Programme, GSM-102, a government-backed facility that reduces risk for lenders and enables Nigerian banks and importers to access credit when sourcing critical agricultural inputs from]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/us-expands-credit-lifeline-for-nigerias-agric-trade/Sat, 25 Apr 2026 12:25:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/us-expands-credit-lifeline-for-nigerias-agric-trade/ Alake disclosed this in a statement made available to SunOnline on Saturday.
The minister added that the initiative, which is endorsed by the ministry, aligns with national priorities to improve transparency, strengthen investor trust, and boost Nigeria’s global competitiveness.
Organizers s]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/solid-minerals-award-to-honor-responsible-sustainable-mining-practices-alake/Sat, 25 Apr 2026 10:34:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/solid-minerals-award-to-honor-responsible-sustainable-mining-practices-alake/ The insurer, a member of the AXA Group, disclosed this in its audited financial results released in Lagos on Monday, showing broad-based expansion across its core business]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/axa-mansard-grows-insurance-revenue-by-22-to-1606bn-navigates-profit-dip-amid-fx-volatility/Sat, 25 Apr 2026 04:23:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/axa-mansard-grows-insurance-revenue-by-22-to-1606bn-navigates-profit-dip-amid-fx-volatility/ The National Copyright Commission (NCC) has vowed to continue intensifying its nationwide anti-piracy operations to disrupt illicit networks, while promoting a culture of respect for copyright.
The Director-General of the NCC, Dr. John Asein, disclosed this in a statement to mark the 2026 World Book and Copyright Day.
The commission noted that piracy remains a major threat, undermining legitimate enterprise and eroding the economic value of creative works.
Asein lamented t]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ncc-intensifies-crackdown-on-piracy-illicit-networks/Sat, 25 Apr 2026 03:37:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ncc-intensifies-crackdown-on-piracy-illicit-networks/ Financial experts have urged Nigerians to exercise discipline by transitioning from traditional savings to structured wealth strategies to protect and grow their money.
Speaking during a roundtable interview, Chinwe Iwobi, Head of Wealth Management, and Feyisetan Akinyemi, Head of Treasury at FairMoney Microfinance Bank, warned that inflation has effectively turned idle cash into a silent drain on wealth.
Iwobi described inflation as a stealth tax that disproportionately affe]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/inflation-experts-urge-nigerians-to-adopt-structured-wealth-strategies/Sat, 25 Apr 2026 03:35:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/inflation-experts-urge-nigerians-to-adopt-structured-wealth-strategies/https://www.newslocker.com/en-ng/news/nigeria-economy-news/naira-appreciates-to-n1380-in-parallel-market/Fri, 24 Apr 2026 23:24:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/naira-appreciates-to-n1380-in-parallel-market/ The fourth edition of South Africa Focus Week has commenced in Lagos, reinforcing economic cooperation and diplomatic relations between Nigeria and South Africa.
The event, hosted by the South African Consulate General in Lagos in partnership with Brand South Africa and the Development Bank of Southern Africa (DBSA), is taking place from 22 to 26 April 2026.
Since its inception in 2023, the annual platform has grown into a key initiative promoting social cohesion and strateg]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/south-africa-focus-week-returns-to-lagos-deepens-bilateral-economic-ties/Fri, 24 Apr 2026 18:34:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/south-africa-focus-week-returns-to-lagos-deepens-bilateral-economic-ties/https://www.newslocker.com/en-ng/news/nigeria-economy-news/brent-crude-falls-below-100-on-hopes-of-fresh-iran-peace-talks/Fri, 24 Apr 2026 16:51:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/brent-crude-falls-below-100-on-hopes-of-fresh-iran-peace-talks/https://www.newslocker.com/en-ng/news/nigeria-economy-news/nnpc-denies-allegations-of-selling-equipment-from-refinery/Fri, 24 Apr 2026 14:38:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nnpc-denies-allegations-of-selling-equipment-from-refinery/ At the same time, the apex bank has abolished the ₦50 monthly maintenance charge previously applied to naira debit and credit cards, a fee that often attracted an additional 7.5 per cent Value Added Tax.
Ho]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-raises-atm-issuance-fee-scraps-monthly-maintenance-charges/Fri, 24 Apr 2026 12:18:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-raises-atm-issuance-fee-scraps-monthly-maintenance-charges/ The Virtual Asset Service Providers’ Association (VASPA) has unveiled ‘Project Green-White-Green’, aimed at bridging the gap between the chaotic liquidity of global digital assets and the structured requirements of the Nigerian state.
In a statement, the association affirmed that, “this isn’t just a policy paper; but a multi-billion dollar roadmap designed to integrate an estimated $92.1 billion in annual virtual asset volume into the formal economy.&]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/vaspa-unveils-92bn-blueprint-to-harness-nigerias-crypto-chaos-and-plug-into-formal-economy/Fri, 24 Apr 2026 12:12:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/vaspa-unveils-92bn-blueprint-to-harness-nigerias-crypto-chaos-and-plug-into-formal-economy/ In a major boost to Nigeria’s aviation sector, President Bola Tinubu has approved a 30 per cent reduction in statutory debts owed by domestic airlines, a move aimed at easing financial strain and sustaining operations amid rising fuel costs.
At a meeting with government officials two days ago, key airline operators sought total debt relief from the federal government.
The relief package covers accumulated charges payable to key aviation agencies, including the Federal]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/tinubu-grants-30-debt-relief-to-airlines-as-nigeria-hits-record-icao-safety-score/Fri, 24 Apr 2026 11:06:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/tinubu-grants-30-debt-relief-to-airlines-as-nigeria-hits-record-icao-safety-score/ Nigeria, through Belemaoil Group President Tein Jack-Rich and Roger Stone – a strategist and one of President Donald Trump’s closest allies – met at Mar-a-Lago to discuss trade expansion between the two countries.
Jack-Rich, in a statement, described the trip as “an absolutely wonderful flight from DC to Mar-a-Lago with a visionary strategist, master bridge-builder,]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/jack-rich-and-trump-ally-stone-talk-us-nigeria-bilateral-ties/Fri, 24 Apr 2026 10:45:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/jack-rich-and-trump-ally-stone-talk-us-nigeria-bilateral-ties/ The company delivered ₦22.41 billion in revenue, a 9 per cent increase from ₦20.64 billion in Q1 2025, while profit before tax (PBT) rose by 15 per cent to ₦7.08 billion.
These results reflect Transcorp Hotels’ sustained focus on op]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/transcorp-hotels-sustains-growth-momentum-with-expanded-margins-enhanced-profitability/Fri, 24 Apr 2026 07:40:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/transcorp-hotels-sustains-growth-momentum-with-expanded-margins-enhanced-profitability/  
By Chinwendu Obienyi  
President Bola Tinubu has sought Senate approval for a fresh $516.3 million external loan, pushing total borrowing requests under his administration beyond $30 billion. The move is intensifying concerns over Nigeria’s rising debt profile and its limited impact on economic stability.
The latest request, read on the floor of the Senate by Senate President Godswill Akpabio, i]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/tinubus-loan-requests-exceed-30bn-after-fresh-516m-highway-financing-bid/Fri, 24 Apr 2026 04:15:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/tinubus-loan-requests-exceed-30bn-after-fresh-516m-highway-financing-bid/ The Minister of State for Industry, John Enoh, has directed the National Sugar Development Council (NSDC) to accelerate efforts toward the full operationalisation of the Nigeria Sugar Institute (NSI), describing the facility as central to Nigeria’s sugar sector transformation.
Speaking during an official visit to the Institute in Ilorin, the minister commended the Executive Secretary of NSDC, Kamar Bakrin, and his team for recent reforms, including infrastructure]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/minister-tasks-nsdc-on-fast-tracking-full-operations-of-sugar-institute/Fri, 24 Apr 2026 04:11:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/minister-tasks-nsdc-on-fast-tracking-full-operations-of-sugar-institute/ Nigeria’s commercial banks have been slammed for their dismal performance in a pioneering global sustainability assessment, scoring a mere 1.7 out of 10 on Environmental, Social, and Governance (ESG) standards, as revealed by the Fair Finance Nigeria (FFNG) Coalition.
The comprehensive policy review by the coalition – comprising BudgIT, Policy Alert, CISLAC, CODE, STEPS, and Oxfam , evaluated some banksagainst over 400 international criteria from th]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerian-banks-flunk-global-esg-test-with-1710-score/Fri, 24 Apr 2026 04:10:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerian-banks-flunk-global-esg-test-with-1710-score/ Nigeria’s aviation sector has recorded a 91.45% Effective Implementation (EI) score at the just-concluded International Civil Aviation Organization (ICAO) Coordinated Validation Mission (ICVM), held between April 15 and 22, 2026.
Speaking during the closing briefing held at the Authority’s Corporate Headquarters in Abuja on April 22, 2026, the Director-General Civil Aviation, (DGCA), Capt. Chris Najomo, noted that the ICVM audit is an independent platform that identi]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/icao-scores-nigeria-91-in-aviation-safety-rating/Fri, 24 Apr 2026 04:06:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/icao-scores-nigeria-91-in-aviation-safety-rating/ Having met the Central Bank of Nigeria’s (CBN) recapitalisation requirement since January 2025, Providus Bank is now focused on expanding its footprint to support local enterprise, deepen financial inclusion, and bring banking services closer to individuals and businesses.
Speaking at the commissioning, the Executive Director/Chief Financial Offic]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/providus-bank-opens-new-branch-in-ekiti/Fri, 24 Apr 2026 04:05:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/providus-bank-opens-new-branch-in-ekiti/ The fintech company said the move is aimed at sanitising the lending ecosystem by offering transparent, privacy-conscious financial services, amid growing concerns over the activities of predatory loan operators in the country.
Headquartered in Oniru,]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/firm-launches-app-to-curb-exploitative-digital-loans/Fri, 24 Apr 2026 04:05:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/firm-launches-app-to-curb-exploitative-digital-loans/ nwekemaduka88@gmail.com 
The Federal Government has stepped up efforts to rebuild the backbone of public administration, moving to tighten institutional efficiency and recalibrate workforce capacity through a strategic personnel audit and skills mapping exercise across the civil service.
Driving the reform is the Personnel Audit and Skills Gap Analysis (PASGA), a flagship initiative of the Office of the Head of Civil Service of the Federation designed to modernise how Minist]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/housing-ministry-targets-leaner-smarter-workforce-with-new-framework/Fri, 24 Apr 2026 04:02:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/housing-ministry-targets-leaner-smarter-workforce-with-new-framework/  
The Ministry of Housing and Urban Development said it has reached more than 150 communities with basic amenities under its urban renewal and slum upgrading initiatives, over the past two years.The former Minister, Ahmed Dangiwa, disclosed this during his meeting with the Society for Water and Sanitation, (NEWSAN) who paid him a courtesy visit in his office in Abuja.
Society for Water & Sanitation – NEWSAN is a coordinating network of over 300 Civil Society Organi]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-delivers-basic-amenities-to-150-communities/Fri, 24 Apr 2026 03:58:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-delivers-basic-amenities-to-150-communities/ The Federal Ministry of Housing and Urban Development has handed over 200 Units semi-detached houses under the National Housing Programme (NHP) Estate to Kwara State Government following the full settlement of all financial obligations for the estate. The estate is located in Ogbondoroko, Asa Local Government Area.Ahmed Dangiwa, then Minister of Housing and Urban Development was represented by the Director of Public Buildings, Musa Abdullahi, described the handover as a major mil]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-delivers-200-housing-units-to-kwara/Fri, 24 Apr 2026 03:58:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-delivers-200-housing-units-to-kwara/  
The Housing Development Advocacy Network (HDAN) has commended the former Minister of Housing and Urban Development, Mr. Ahmed Dangiwa, for what it described as a highly impactful and reform-driven tenure in Nigeria’s housing sector.
In a statement issued in Abuja by its Executive Director, Festus Adebayo, the organization said Dangiwa demonstrated uncommon leadership, strategic clarity, and commitment to repositioning the housing sector as a key driver of national d]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/hdan-hails-dangiwas-legacy/Fri, 24 Apr 2026 03:56:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/hdan-hails-dangiwas-legacy/  
By Uche UsimNigeria’s economic policy direction came under scrutiny at the 10th Bullion Lecture 2026 in Lagos yesterday, as the Chairman, Alliance for Economic Research and Ethics and former President, Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, Kelvin Oye, delivered a critique of fiscal priorities, import dependence and perceived s]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerian-farmers-bleeding-economy-hijacked-by-few-nigerians-oye-ex-naccima-president/Fri, 24 Apr 2026 03:26:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerian-farmers-bleeding-economy-hijacked-by-few-nigerians-oye-ex-naccima-president/ The performance, presented at the company’s 13th Annual General Meeting (AGM), showed that total assets grew by 33 per cent from N48 billion in 2024, while revenue rose by 8 per cent from N3.75 billion recorded in the previous year. Gross profit also increased to N]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/afrilands-assets-hit-n65bn-revenue-grows-to-n407bn/Fri, 24 Apr 2026 03:26:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/afrilands-assets-hit-n65bn-revenue-grows-to-n407bn/ The National Information Technology Development Agency (NITDA) has announced plans to promote and deploy technology solutions developed by members of the National Youth Service Corps (NYSC) across Ministries, Departments and Agencies (MDAs), in a move aimed at deepening innovation and creating jobs.
Director-General of NITDA, Kashifu Abdullahi, disclosed this on Thursday during the commissioning of the agency’s Innovation Space and the showcase of solutions devel]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nitda-to-deploy-nysc-tech-solutions-across-mdas/Fri, 24 Apr 2026 03:25:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nitda-to-deploy-nysc-tech-solutions-across-mdas/ The announcement was made on Wednesday by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, who noted that the appointment forms part of a broader set of decisions targeting reforms and improved governance across key educational institutions.
Profes]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/tinubu-appoints-modupe-adelabu-neco-governing-board-chairman/Fri, 24 Apr 2026 03:21:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/tinubu-appoints-modupe-adelabu-neco-governing-board-chairman/ The escalating crisis in the Middle East has not only tightened its grip on Nigeria’s already strained logistics chain, it has exposed deep structural weaknesses and pushed trade costs sharply higher.As key global shipping routes like the Strait of Hormuz and Gulf of Aden face disruptions, it h]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/middle-east-shock-exposes-nigerias-logistics-fragility-spikes-trade-costs/Fri, 24 Apr 2026 01:36:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/middle-east-shock-exposes-nigerias-logistics-fragility-spikes-trade-costs/ Although Nigeria’s total export value rose to N77.44 trillion in 2024, marking a 115 per cent year-on-year increase, manufactured exports still accounted for less than three per cent of the total.This gap, stakeholders say, highlights s]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/despite-n774trn-export-surge-manufacturing-missing-in-action-maneg/Fri, 24 Apr 2026 01:34:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/despite-n774trn-export-surge-manufacturing-missing-in-action-maneg/ The Centre, to be located at the Nestlé Dairy Demonstration Farm, builds on the company’s ongoing Livestock Development Project (NLDP). It reflects]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nestl-livestock-ministry-seal-deal-to-boost-dairy-sector/Fri, 24 Apr 2026 01:32:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nestl-livestock-ministry-seal-deal-to-boost-dairy-sector/  
Bank of Industry (BOI), Nigeria’s foremost Development finance institution and the Raw Materials Research and Development Council (RMRDC) have sealed a strategic partnership agreement to strengthen Nigeria’s agricultural value-chain and boost the country’s Gross Domestic Product (GDP) value.
The agreement was formalised recently with the signing of a Memorandum of Understanding (MoU) between both organisations.
The agreement was the culmi]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/boi-rmrdc-partner-to-strengthen-agric-value-chain/Fri, 24 Apr 2026 01:31:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/boi-rmrdc-partner-to-strengthen-agric-value-chain/ Nigeria’s top commercial banks have been slammed for their dismal performance in a pioneering global sustainability assessment, scoring a mere 1.7 out of 10 on Environmental, Social, and Governance (ESG) standards, as revealed by the Fair Finance Nigeria (FFNG) Coalition.
The comprehensive policy review by the coalition – comprising BudgIT, Policy Alert, CISLAC, CODE, STEPS, and Oxfam – evaluated Access Bank, Standard Chartered, United Bank fo]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerian-banks-flunk-global-esg-test-with-1710-score-csos-coalition-demands-cbn-overhaul/Thu, 23 Apr 2026 22:24:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerian-banks-flunk-global-esg-test-with-1710-score-csos-coalition-demands-cbn-overhaul/ The Nigerian Communications Commission (NCC) has instructed telecom providers to provide compensation to users for inadequate network quality via airtime credits, as part of an enhanced regulatory enforcement framework across the country.
The measure is part of a renewed push to enhance service delivery, safeguard consumers, and hold operators accountable for recurring network performance issues across the country.
The Executive Vice Chairman, Dr Aminu Maida, disclosed this duri]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ncc-directs-telcos-to-compensate-users-with-airtime-over-poor-service/Thu, 23 Apr 2026 22:16:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ncc-directs-telcos-to-compensate-users-with-airtime-over-poor-service/ Two government agencies, including the Nigeria Shipper’s Council (NSC) and the Nigerian Customs Service, have been urged to address the challenges of manipulation of Bill of Lading at the Nigerian ports, by its staffs, as the shady practice has contributed immensely to poor revenue for the country.
The National Coordinator of the Nigeria Importers Special Taskforce (NIT) Chief Obinna  Michael Ekwego made the call on Thursday in Abuja during an exclusive interview]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fake-bill-of-lading-reason-for-poor-revenue-at-nigerian-ports-ekwego/Thu, 23 Apr 2026 21:42:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fake-bill-of-lading-reason-for-poor-revenue-at-nigerian-ports-ekwego/ Nigeria’s ambition to compete in the global digital economy is under serious threat as adoption of Internet Protocol version 6 (IPv6) remains stuck at just five per cent, raising fears that the country could be left behind in the next wave of internet innovation.
Industry stakeholders warned that the slow transition from the outdated Internet Protocol version 4 (IPv4) could limit Nigeria’s ability to fully harness emerging technologies such as 5G, artificial intel]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-risks-digital-isolation-as-ipv6-adoption-stalls-at-5/Thu, 23 Apr 2026 21:23:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-risks-digital-isolation-as-ipv6-adoption-stalls-at-5/https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-warns-of-rising-fraud-targeting-bank-accounts/Thu, 23 Apr 2026 09:36:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-warns-of-rising-fraud-targeting-bank-accounts/https://www.newslocker.com/en-ng/news/nigeria-economy-news/foreign-inflows-jump-78-on-ngx-amid-rising-outflows/Thu, 23 Apr 2026 07:04:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/foreign-inflows-jump-78-on-ngx-amid-rising-outflows/https://www.newslocker.com/en-ng/news/nigeria-economy-news/ginger-fcmb-sheventures-unveil-built-to-last-programme-for-women-beauty-entrepreneurs/Thu, 23 Apr 2026 05:01:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ginger-fcmb-sheventures-unveil-built-to-last-programme-for-women-beauty-entrepreneurs/ Tinubu made this known on Wednesday at the opening of the 2026 West Africa Seminar of the International Social Security Association (ISSA) held in Abuja, where he reaffirmed the commitment of his administration to stren]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/75m-nigerians-covered-under-employees-compensation-scheme-tinubu/Thu, 23 Apr 2026 03:28:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/75m-nigerians-covered-under-employees-compensation-scheme-tinubu/ The Commission made this known during the UK–Nigeria Trade and Investment Mission held in Abuja from April 20 to 21, 2026, where it served as host and strategic partner in collaboration with DMA Invest and the UK Department for Busi]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-positioned-as-top-destination-for-global-capital-nipc/Thu, 23 Apr 2026 03:27:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-positioned-as-top-destination-for-global-capital-nipc/ Nigeria has joined the league of countries with self sufficiency in renewable energy components production with the commencement of solar panels export to Ghana, the Managing Director of the Rural Electrification Agency (REA), Mr. Abba Aliyu has said.
Aliyu disclosed this at a webinar organised by the African Association of Energy Journalists and Publishers (AJERAP).
“For the first time, Nigeria is producing solar panels locally, and they are already being exported. Thi]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-begins-export-of-solar-panels-ramps-up-production-capacity-to-300-megawatts-rea/Thu, 23 Apr 2026 03:26:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-begins-export-of-solar-panels-ramps-up-production-capacity-to-300-megawatts-rea/ Amid heightened investor anticipation and the circulation of an unauthorized “financial highlight” on social media, Accesd Holdings Plc has said it is is on the verge of releasing its much-anticipated full-year 2025 audited financial results soon.
The group also confirmed that publication will follow within 48 hours of receiving final regulatory clearance from the Central Bank of Nigeria (CBN).
In a notice to the investing public which was signed by the company&r]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/access-holdings-to-publish-fy-2025-results-within-48hrs-of-cbn-clearance/Thu, 23 Apr 2026 03:25:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/access-holdings-to-publish-fy-2025-results-within-48hrs-of-cbn-clearance/ The Nigerian Gas Association(NGA), has identified predictable fiscal and regulatory environment as key ingredients essential to de-risking investments and accelerating project delivery in the oil and gas sector.
A statement released by NGA at the end of its maiden Legal Forum emphasised that investor confidence will, be shaped by the robustness of commercial and contractual structures across the gas value chain, strengthened contractual clarity, and efficient dispute resoluti]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nga-seeks-de-risking-measures-to-boost-oil-gas-project-execution/Thu, 23 Apr 2026 03:24:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nga-seeks-de-risking-measures-to-boost-oil-gas-project-execution/ It was a reset of expectations about what Nigeria’s industrial future can look like.
In a country often defined by conversations about deindustrialisation, import dependence and youth unemployment, the emergence of a fully operational, modern beverage production facility carrying a long-term $100 million expansi]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/boosting-job-creation-economic-liberation-with-ultimums-100m-aba-beverage-plant/Thu, 23 Apr 2026 03:13:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/boosting-job-creation-economic-liberation-with-ultimums-100m-aba-beverage-plant/ The high-level engagement, which took place at the Malaysia International Trade and Exhibition Centre (MITEC), bringing together over 1,400 companies and key stakeholders across defence technology, electronic warfare, and ho]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/customs-boss-pushes-global-security-alliances-in-malaysia/Thu, 23 Apr 2026 03:12:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/customs-boss-pushes-global-security-alliances-in-malaysia/ Africa is emerging as a critical battleground in the global race for artificial intelligence talent, as Maliyo Games and Arizona State University (ASU) plan to train and certify 10,000 talents across the continent in AI and game development.
The partnership, unveiled in Lagos through ASU’s Endless Games and Learning Lab, signals a strategic push to build a scalable digital workforce pipeline capable of meeting rising global demand for interactive media and AI-driven ski]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ai-talent-race-heats-up-as-maliyo-asu-target-10000-africans/Thu, 23 Apr 2026 03:11:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ai-talent-race-heats-up-as-maliyo-asu-target-10000-africans/ According to a statement released on Wednesday, Ibrahim made this known in New York while presenting his letter of credence to UN Secretary-General António Guterres, wher]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/inflation-easing-debt-outlook-improving-on-fgs-reforms-envoy/Thu, 23 Apr 2026 03:10:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/inflation-easing-debt-outlook-improving-on-fgs-reforms-envoy/ This was revealed in the latest article from the World Food Programme (WFP), the food-assistance arm of the United Nations.The agency said the conflict is causing widespread transport delays, port congestion and rerouting of shipping routes, making it more expensive and slower to move food, fuel, fertiliser and medicine to]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/middle-east-crisis-fuelling-global-food-inflation-363m-risk-acute-hunger-un/Thu, 23 Apr 2026 02:42:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/middle-east-crisis-fuelling-global-food-inflation-363m-risk-acute-hunger-un/ Nigeria has joined the league of countries with self-sufficiency in the production of renewable energy components following the commencement of solar panel exports to Ghana, the Managing Director of the Rural Electrification Agency (REA), Mr Abba Aliyu, has said.
Aliyu disclosed this at a webinar organised by the African Association of Energy Journalists and Publishers (AJERAP).
“For the first time, Nigeria is producing solar panels locally, and they are already being e]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-begins-solar-panel-exports-ramps-up-production-capacity-to-300-megawatts-rea/Wed, 22 Apr 2026 19:01:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-begins-solar-panel-exports-ramps-up-production-capacity-to-300-megawatts-rea/ Osakwe, a lawyer and managing director of Alkire Partners Nig Ltd, who has faced multiple high-profile disputes including an ongoing ₦300 million alleged illeg]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/entrepreneurs-face-mounting-legal-challenges-in-nigerias-business-environment-osakwe/Wed, 22 Apr 2026 12:34:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/entrepreneurs-face-mounting-legal-challenges-in-nigerias-business-environment-osakwe/ Persistent internet outages linked to fragile submarine cable infrastructure are increasing the cost of capital for West Africa’s digital sector, the Executive Secretary of the West African Telecommunications Regulators Assembly (WATRA), Aliyu Aboki, has said.
Aboki, who was at the International Submarine Cable Resilience Summit 2026 in Porto, warned that weak resilience in connectivity systems is now being factored into investment decisions, making it more expensive to]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/internet-outages-increasing-cost-of-capital-for-west-africas-digital-sector-watra/Wed, 22 Apr 2026 09:13:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/internet-outages-increasing-cost-of-capital-for-west-africas-digital-sector-watra/https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-expands-solar-manufacturing-to-300mw-targets-37gw-hub/Wed, 22 Apr 2026 08:40:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-expands-solar-manufacturing-to-300mw-targets-37gw-hub/https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-web3-ecosystem-attracts-43m-funding-report/Wed, 22 Apr 2026 08:37:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-web3-ecosystem-attracts-43m-funding-report/https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-oil-firms-earn-4bn-windfall-from-middle-east-crisis/Wed, 22 Apr 2026 08:31:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-oil-firms-earn-4bn-windfall-from-middle-east-crisis/ The Central Bank of Nigeria (CBN) has intensified its crackdown on cyber fraud, alerting Nigerians to a wave of fake messages and online scams while reinforcing confidence in the safety of the nation’s financial system.
In a fresh advisory issued on April 21, 2026 by its Spokesperson, Hakama Sidi Ali, the apex bank disclosed that fraudsters are circulating deceptive emails, text messages, and digital content falsely linked to the CBN. These messages are crafted t]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-warns-nigerians-of-fake-bank-alerts-other-cyber-frauds/Wed, 22 Apr 2026 07:27:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-warns-nigerians-of-fake-bank-alerts-other-cyber-frauds/https://www.newslocker.com/en-ng/news/nigeria-economy-news/uk-nigeria-trade-mission-builds-on-state-visit-momentum-to-drive-commercial-outcomes/Wed, 22 Apr 2026 05:09:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/uk-nigeria-trade-mission-builds-on-state-visit-momentum-to-drive-commercial-outcomes/ Speaking recently at a media briefing in Washington DC at the close of the IMF–World Bank Spring Meetings, Cardoso said remittances are no longer being treated as auxiliary inflows, but as a core componen]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/diaspora-inflows-now-strategic-fx-pillar-for-nigeria-cbn/Wed, 22 Apr 2026 03:01:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/diaspora-inflows-now-strategic-fx-pillar-for-nigeria-cbn/ He rejected allegations of operational incompetence that allegedly enabled oil sabotage, insisting instead that the firm’s performance demonstrates strong asset protection capability and measurable results in production support.
According]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/abili-integrated-defends-operations-says-oil-asset-surveillance-at-96/Wed, 22 Apr 2026 02:59:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/abili-integrated-defends-operations-says-oil-asset-surveillance-at-96/ The suspects were apprehended at about 19:00 hours on April 20, 2026, following an intelligence-driven response by security officials of the Federal Airport Authority of Nigeria (FAAN) working in close coordination with the Joint Military Task Force (JMTF) and other security agencies depl]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-court-jails-14-airport-vandals/Wed, 22 Apr 2026 02:58:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-court-jails-14-airport-vandals/ Established by the United Nations in 2010 to promote multilingualism and cultural diversity, this year’s observance is themed “Characters Endure, Civilization Shines,” highlighting the enduring influence of language on identity, herita]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ncsp-elevates-language-as-growth-innovation-tool/Wed, 22 Apr 2026 02:57:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ncsp-elevates-language-as-growth-innovation-tool/ From Juliana Taiwo-Obalonye, Abuja and Chinwendu ObienyiPresident Bola Tinubu has effected a major shake-up in his economic team, sacking Finance Minister Wale Edun and Housing Minister Ahmed Dangiwa, while appointing tax expert Taiwo Oyedele as the new Minister of Finance.The President Bola Tinubu, yesterday, effected a minor reshuffle in the Federal Executive Council (FEC), sacking the Minister of Finance and Coordinating Minister of the Eco]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/tinubu-sacks-edun-dangiwa-elevates-oyedele-as-finance-minister/Wed, 22 Apr 2026 02:55:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/tinubu-sacks-edun-dangiwa-elevates-oyedele-as-finance-minister/ Odenigwe noted that constructi]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/centenary-city-gains-pace-with-35-road-completion/Wed, 22 Apr 2026 02:52:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/centenary-city-gains-pace-with-35-road-completion/ From Adanna Nnamani, AbujaThe Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs. Oritsemeyewa Eyesan, has called on independent oil producers to strictly adhere to the provisions of the Petroleum Industry Act (PIA), 2021, while prioritising human capital development and stronger corporate governance across the sector.
According to statement issued by Eniola Akinkuotu, Spokesperson of NUPRC, Eyesan made the call du]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nuprc-boss-urges-oil-producers-to-uphold-pia-strengthen-workforce/Wed, 22 Apr 2026 02:45:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nuprc-boss-urges-oil-producers-to-uphold-pia-strengthen-workforce/ Held in Lagos, the one-day event convened an elite mix of CEOs, C-suite leaders, public sector decision-makers, investors, and emerging professionals in what turned out to be a rigorous exchange of ideas, strategy, and practical insights.
With the]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/emages-30-unveils-blueprint-for-sustained-performance/Wed, 22 Apr 2026 02:31:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/emages-30-unveils-blueprint-for-sustained-performance/ By Steve Agbota                                   styvenchy@yahoo.com 
 
The persistent increase in fuel prices is crippling water transport operations across key routes in Lagos and has forced boat operators to grapple with low patronage and mounting operational pressure. Commuters are also bearing the brunt of the hike, as fares have reportedly doubled in m]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fuel-price-hike-cripples-water-transport-boat-operators-battle-low-patronage/Wed, 22 Apr 2026 02:28:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fuel-price-hike-cripples-water-transport-boat-operators-battle-low-patronage/ The Managing Director and Chief Executive Officer of the Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, has said that with the Federal Government’s reforms, Nigeria’s port system will enter a new phase and emerge as a leading maritime logistics hub in Africa.
Dantsoho gave the assurance while speaking at the Blue Economy Investment Summit in Abuja, where he stressed that Nigeria’s port system would play a pivotal role in unlocking strategic investm]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-ports-to-become-africas-maritime-logistics-hub-npa-md/Wed, 22 Apr 2026 02:25:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-ports-to-become-africas-maritime-logistics-hub-npa-md/  
 
A report by the Sea Empowerment and Research Centre (SEREC) has revealed that Nigeria is losing about $10 billion annually to maritime exploitation, entrenched cartels, systematic inefficiencies and extraction of national wealth through poorly governed export systems and leakages.
SEREC said that other factors contributed to the loss are weak industrial linkages, trade distortions, policy inconsistencies, resour]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/serec-nigeria-loses-10bn-yearly-to-maritime-exploitation-cartels/Wed, 22 Apr 2026 02:23:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/serec-nigeria-loses-10bn-yearly-to-maritime-exploitation-cartels/ A National Pension Commission (PenCom) has read what appears to be a riot act to defiant employers of labour who treat pension compliance as optional rather than mandatory.It has asked them to sit up or be visited with the full weight of the law.
The Director-General of PenCom, Ms. Omolola Oloworaran gave the warning recently at its first quarterly Pension Industry Leadership Council (PILC) meeting in Lagos, where she reminded recalcitrant emplo]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/pencom-to-employers-obey-cps-rules-or-face-sanctions/Wed, 22 Apr 2026 02:22:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/pencom-to-employers-obey-cps-rules-or-face-sanctions/ Over 1,000 female professionals, entrepreneurs and industry leaders are set to converge for a high-impact discourse focused on wealth creation and career advancement, in what organisers describe as a strategic platform to empower women with the tools, networks and insights needed to thrive in today’s competitive economy.
Put together by AXA Mansard Insurance Plc in partnership with Herconomy as the sponsor of the Herconomy Conference 2026. The move is aimed at strengthening f]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/over-1000-female-professionals-for-axa-mansard-wealth-creation-confab/Wed, 22 Apr 2026 02:21:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/over-1000-female-professionals-for-axa-mansard-wealth-creation-confab/ To strengthen insurance sector’s overall performance, the Commissioner for Insurance/Chief Executive Officer, National Insurance Commission (NAICOM), Mr. Olusegun Omosehin, has outlined a set of conditions for industry operators, intermediaries, policymakers and the media, signaling a firm regulatory push to accelerate progress toward the Nigerian Insurance Industry Reform Act (NIIRA) targets.Delivering a keynote address at the Daily Economy’s Second Anniversary]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-outlines-requirements-for-stakeholders-to-meet-niira-target/Wed, 22 Apr 2026 02:19:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-outlines-requirements-for-stakeholders-to-meet-niira-target/https://www.newslocker.com/en-ng/news/nigeria-economy-news/lasaco-assurances-rights-issue-to-close-may-13/Wed, 22 Apr 2026 02:05:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/lasaco-assurances-rights-issue-to-close-may-13/ Lagos State has emerged as Nigeria’s most indebted subnational government, with a staggering debt profile of N1.04 trillion, according to fresh data released by the Debt Management Office (DMO).
The figures show that Nigeria’s combined debt stock for the 36 states and the Federal Capital Territory (FCT) rose to N4.36 trillion in 2025, up from N3.97 trillion in 2024, representing a 9.89 per cent increase within one year.
The DMO data underscores Lagos&rsquo]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-tops-nigerias-state-debt-chart-with-n104-trillion-liability/Tue, 21 Apr 2026 20:16:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-tops-nigerias-state-debt-chart-with-n104-trillion-liability/ Nigeria’s Web3 ecosystem is entering a decisive growth phase, with new data showing a sharp rebound in investment, rising global influence in developer talent, and a dominant position in stablecoin transactions despite persistent regulatory uncertainties.
The “Nigeria Web3 Landscape Report 2025,” released by Hashed Emergent, reveals that Nigerian Web3 startups attracted $43 million in funding in 2025, more than double the $20 million recorded in 2024, signall]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-emerges-global-web3-powerhouse-as-funding-hits-43m-stablecoin-volume-surges-report/Tue, 21 Apr 2026 17:52:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-emerges-global-web3-powerhouse-as-funding-hits-43m-stablecoin-volume-surges-report/https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-risks-losing-cargo-to-port-of-neighbouring-countries-serec-warns/Tue, 21 Apr 2026 08:41:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-risks-losing-cargo-to-port-of-neighbouring-countries-serec-warns/https://www.newslocker.com/en-ng/news/nigeria-economy-news/boi-rmrdc-sign-mou-to-foster-agric-value-chain-growth/Tue, 21 Apr 2026 08:26:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/boi-rmrdc-sign-mou-to-foster-agric-value-chain-growth/https://www.newslocker.com/en-ng/news/nigeria-economy-news/ncc-cbn-launch-portal-to-track-fraudulent-phone-lines/Tue, 21 Apr 2026 08:15:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ncc-cbn-launch-portal-to-track-fraudulent-phone-lines/ Governor, Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso (right) and the Executive Vice Chairman (EVC) and Chief Executive Officer (CEO) of the Nigerian Communications Commission (NCC), Dr. Aminu Maida, after signing a Memorandum of Understanding (MOU) on D]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-ncc-unveil-committees-to-safeguard-consumers-from-fraudsters/Tue, 21 Apr 2026 03:01:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-ncc-unveil-committees-to-safeguard-consumers-from-fraudsters/ The Nigerian Shippers’ Council (NSC) is pushing for the swift clearance and delivery of power project cargo at the nation’s seaports to support ongoing investments in Nigeria’s electricity value chain and ultimately drive economic growth.
The call was a key focus during a working visit by the NSC Board, led by its Chairman, Dr Ibrahim Shehu Shema, and the Executive Secretary, Dr Pius Akutah, to major operators, including CMA CGM and APM Terminals, at the Lagos P]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/shippers-council-seeks-quick-clearance-of-power-project-cargoes/Tue, 21 Apr 2026 03:00:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/shippers-council-seeks-quick-clearance-of-power-project-cargoes/ This follows a series of high-level engagements between FGNPC and officials of both state governments, described as pivotal to accelerating implementation and ensuring long-term sustainability of the projects.The delegati]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-boosts-electricity-infrastructure-in-ebonyi-enugu/Tue, 21 Apr 2026 02:59:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-boosts-electricity-infrastructure-in-ebonyi-enugu/ The ceremony, organised by the Nigeria Customs Technical Hangar Service, brought together senior officers, management staff, and colleagues to honour her for breaking new ground in the service. Balogun’s feat marks a historic milestone as she becomes the first female pilot in the Nigeria Custom]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/customs-hails-trailblazing-female-pilot-after-securing-multi-engine-commercial-lcence/Tue, 21 Apr 2026 02:57:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/customs-hails-trailblazing-female-pilot-after-securing-multi-engine-commercial-lcence/ Nigeria’s rising debt profile is entering discomforting quarters, as concerns shift from the sheer size of borrowings to the growing risks associated with refinancing existing obligations.With the recent revelation from the Debt Management Office (DMO) of the country’s debt standing at N159 trillion, the structure, cost and maturity profile of the country’s liabilities are becoming increasingly critical to macroeconomic stability.
According to the debt offi]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/refinancing-risks-rise-as-nigerias-debt-nears-n180trn/Tue, 21 Apr 2026 02:55:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/refinancing-risks-rise-as-nigerias-debt-nears-n180trn/ Banks and listed companies are stepping up preparations for quarterly earnings season, with boards lining up meetings to review and approve unaudited results for the first three months of 2026.The wave of announcements signals the start of another disclosure cycle in which banks, industrials and consumer names will give investors a fresh read on margins, asset quality, liquidity and near-term guidance.
For investors, the meeting notices are often the first public sign that r]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/investors-brace-as-earnings-season-opens-for-banks-firms/Tue, 21 Apr 2026 02:54:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/investors-brace-as-earnings-season-opens-for-banks-firms/  
Nigeria’s value-added tax receipts are poised for sustained growth as improving consumer demand and rising price pressures bolster nominal spending, reinforcing government revenue in the near term, analysts at Quest Merchant Bank said on Monday.
This is coming after data from the National Bureau of Statistics (NBS) showed that VAT collections dipped slightly on a quarterly basis in the final three months of 2025, even as full-year receipts exceeded expectations]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/consumption-inflation-to-drive-nigerias-vat-growth-analysts/Tue, 21 Apr 2026 02:53:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/consumption-inflation-to-drive-nigerias-vat-growth-analysts/ Domestic demand is about 2.5 million metric tonnes annually but local production oscillates between 1.4-1.5 million metric tonnes.So, as shortages persist, adulteration is quietly expanding along the supply chain, slipping past weak regulatory checks and rising demand pressures.The result is a worrisome mix of price distortion, consumer deception and mo]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/how-1m-ton-palm-oil-deficit-is-fuelling-adulteration/Tue, 21 Apr 2026 02:52:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/how-1m-ton-palm-oil-deficit-is-fuelling-adulteration/https://www.newslocker.com/en-ng/news/nigeria-economy-news/flour-mills-gets-fg-mandate-on-300000mt-sugar-output/Tue, 21 Apr 2026 02:50:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/flour-mills-gets-fg-mandate-on-300000mt-sugar-output/ To enhance Nigeria’s edible oil market, Olam Agri has officially launched Mama’s Pride Soya Oil, a well-refined, heart-healthy cooking oil designed to meet the evolving nutritional needs of Nigerian households. The recent launch event witnessed remarkable market enthusiasm, with trade partners from across the country in att]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/olam-agri-launches-new-product/Tue, 21 Apr 2026 02:49:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/olam-agri-launches-new-product/ Nigeria’s subnational debt burden deepened in 2025. This highlights mounting fiscal pressures across states as governments leaned more heavily on borrowing to sustain spending and plug revenue shortfalls.
Fresh data from the Debt Management Office show that the combined debt stock of the 36 states and the Federal Capital Territory (FCT) climbed to N4.36 trillion, up from N3.97 trillion in 2024.
The N392.41 billion increase represents a 9.89 per cent year-on-year rise and refle]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/states-debt-hits-n436trn-10-lead-with-n296trn/Tue, 21 Apr 2026 02:41:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/states-debt-hits-n436trn-10-lead-with-n296trn/ The United States dollar rose to a one-week peak against major global currencies on Monday, as renewed geopolitical tensions between Washington and Tehran unsettled investor confidence and weakened expectations of diplomatic progress in the Middle East.
According to Reuters, market sentiment turned cautious over the weekend following reports that the United States seized an Iranian cargo vessel, a move that further escalated already fragile relations between both countries. The deve]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/us-dollar-soars-to-7-day-high-as-meast-tensions-rattle-global-markets/Tue, 21 Apr 2026 02:39:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/us-dollar-soars-to-7-day-high-as-meast-tensions-rattle-global-markets/ This followed the Bank’s successful completion of a N150 billion righ]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/wema-bank-meets-cbns-recapitalisation-retains-national-banking-licence/Tue, 21 Apr 2026 02:37:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/wema-bank-meets-cbns-recapitalisation-retains-national-banking-licence/ The Chief Executive Officer of United Nigeria Airline, Prof. Obiora Okonkwo, has said that the airline will commence direct flights from Nigeria to New York  before October this year.
Speaking during an interview on Channels TV recently, he said that the airline makes its decisions based on where there is passenger traffic and also revealed that by July, the airline will receive the aircraft it’ll use for the long haul trip to the US.
He said: “We’re plann]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/united-nigeria-airline-to-commence-direct-flights-to-new-york-this-year-okonkwo-ceo/Tue, 21 Apr 2026 02:36:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/united-nigeria-airline-to-commence-direct-flights-to-new-york-this-year-okonkwo-ceo/ A proposed new securities exchange, Contisx, is betting on mobilising diaspora capital and retail savings to challenge the dominance of established platforms, following preliminary approval from the Securities and Exchange Commission (SEC).
Founder, Contisx Securities Exchange Plc and Chairman, Tekedia Capital, Prof Ndubuisi Ekekwe revealed this on his X (formerly Twitter) handle page on Monday.
He stated that the exchange has received Approval-in-Principle (AIP) from the re]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/contisx-secures-secs-approval-in-principle-targets-diaspora-billions-to-rival-ngx-fmdq-exchanges/Tue, 21 Apr 2026 02:35:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/contisx-secures-secs-approval-in-principle-targets-diaspora-billions-to-rival-ngx-fmdq-exchanges/ ​The launch follows a period of explosive growth for Bitget’s CFD business, which recently recorded a peak daily trading volume exceeding $6 billion. As volatility increases across traditional markets, cr]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/bitget-hits-6bn-daily-cfd-volume-launches-copy-trading/Tue, 21 Apr 2026 02:33:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/bitget-hits-6bn-daily-cfd-volume-launches-copy-trading/ Dangote made this assertion during a series of high-level engagements with global financial leaders on the sidelines of the recently concluded International Monetary Fund (IMF) and World Bank Spring Meetings in Washington, D.C. T]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/imfworld-bank-meetings-dangote-champions-infrastructure-and-job-creation-as-catalysts-for-africas-economic-growth/Mon, 20 Apr 2026 23:49:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/imfworld-bank-meetings-dangote-champions-infrastructure-and-job-creation-as-catalysts-for-africas-economic-growth/ Federal High Court, Abuja, has dismissed a suit filed by a local airline operator, Air Peace Limited, challenging the authority of the Federal Competition and Consumer Protection Commission (FCCPC) to investigate consumer complaints, and issue summons in the exercise of its statutory mandate.
Air Peace, had approached the court to challenge the FCCPC’s authority to investigate consumer complaints and issue summons in the exercise of its statutory mandate.
FCCPC Direct]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fccpc-wins-court-case-against-air-peace-on-ticket-refund-others/Mon, 20 Apr 2026 19:14:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fccpc-wins-court-case-against-air-peace-on-ticket-refund-others/ Nigeria’s $450bn digital economy drive is gathering significant political and institutional backing, as the Ministry of Finance Incorporated (MOFI) joins the 15th West Africa Convergence Conference (WACC) 2026 as a strategic partner.
The conference, scheduled to hold in Lagos this June, comes at a pivotal time when Nigeria’s ICT sector now contributing over 18 percent to the nation’s Gross Domestic Product is increasingly being positioned as a central pillar]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-450bn-digital-economy-push-gains-political-backing-as-mofi-joins-wacc-2026/Mon, 20 Apr 2026 19:01:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-450bn-digital-economy-push-gains-political-backing-as-mofi-joins-wacc-2026/ Management of FGN Power Company (FGNPC) has reaffirmed its commitment to strategic stakeholder collaboration following high-level engagements with the Ebonyi and Enugu State Governments.
In a statement, the meetings are a critical component of the ongoing efforts to accelerate Phase 1 of the Presidential Power Initiative (PPI), aimed at transforming Nigeria’s energy landscape.
The delegation, led by the Chief Commercial Officer (CCO) of FGNPC, Mr. Babatunde Daramo]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fgn-power-moves-to-boost-ebonyi-enugu-ppi-phase-1/Mon, 20 Apr 2026 18:33:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fgn-power-moves-to-boost-ebonyi-enugu-ppi-phase-1/https://www.newslocker.com/en-ng/news/nigeria-economy-news/tinubu-approves-75m-investment-in-flutterwave-ahead-of-ipo/Mon, 20 Apr 2026 16:23:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/tinubu-approves-75m-investment-in-flutterwave-ahead-of-ipo/ Concerned Petrol Station Workers (PSWs) across Nigeria have called on the leadership of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) to urgently include them in ongoing union reforms.
They warned that their continued exclusion undermines fair representation in the oil and gas sector.
The Convener, Comrade Ibrahim Zango, on Monday expressed concern over what he described as persistent marginalisation in the union’s restructuring processes, including]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nupeng-reforms-petrol-station-attendants-others-demand-inclusion-decry-marginalisation/Mon, 20 Apr 2026 16:06:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nupeng-reforms-petrol-station-attendants-others-demand-inclusion-decry-marginalisation/ Opposition is building among youths and stakeholders in the Niger Delta over plans by Eni to divest its five per cent stake in the Renaissance Joint Venture (JV), with calls for Federal Government intervention and warnings of resistance if concerns are not addressed.
The stake, estimated at between $400 million and $500 million, has attracted interest from local and international investors. However, indications that the transaction may favour the Sandesara brothers, owners]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/tension-mounts-in-niger-delta-over-eni-divestment-plan/Mon, 20 Apr 2026 11:14:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/tension-mounts-in-niger-delta-over-eni-divestment-plan/https://www.newslocker.com/en-ng/news/nigeria-economy-news/nb-outlines-strategies-for-sustained-growth-pricing-shocks-protection/Mon, 20 Apr 2026 08:54:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nb-outlines-strategies-for-sustained-growth-pricing-shocks-protection/https://www.newslocker.com/en-ng/news/nigeria-economy-news/manufacturers-fault-world-banks-proposal-to-reinstate-petrol-import-licences/Mon, 20 Apr 2026 08:49:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/manufacturers-fault-world-banks-proposal-to-reinstate-petrol-import-licences/https://www.newslocker.com/en-ng/news/nigeria-economy-news/vanguard-economic-discourse-farmers-food-entrepreneurs-brainstorm-for-sector-growth/Mon, 20 Apr 2026 08:33:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/vanguard-economic-discourse-farmers-food-entrepreneurs-brainstorm-for-sector-growth/https://www.newslocker.com/en-ng/news/nigeria-economy-news/no-ban-on-airtime-data-credit-fccpc/Mon, 20 Apr 2026 08:29:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/no-ban-on-airtime-data-credit-fccpc/https://www.newslocker.com/en-ng/news/nigeria-economy-news/nb-warns-continued-instability-could-lead-to-fx-risk-higher-inflation/Mon, 20 Apr 2026 08:23:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nb-warns-continued-instability-could-lead-to-fx-risk-higher-inflation/https://www.newslocker.com/en-ng/news/nigeria-economy-news/ngx-expands-trading-window-to-7hrs/Mon, 20 Apr 2026 08:15:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ngx-expands-trading-window-to-7hrs/https://www.newslocker.com/en-ng/news/nigeria-economy-news/nimasa-gets-approval-to-disburse-cvff/Mon, 20 Apr 2026 08:07:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nimasa-gets-approval-to-disburse-cvff/https://www.newslocker.com/en-ng/news/nigeria-economy-news/stock-market-rally-intensifies-as-investors-reap-n87trn/Mon, 20 Apr 2026 08:04:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/stock-market-rally-intensifies-as-investors-reap-n87trn/ The development could shape the future of banking, payments, and investment in the country. With more young people embracing digital finance, CBN’s move under its Governor, Olayemi Cardoso aligns with broader strategy to strengthen financial syste]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-leverages-digital-finance-to-expand-access-to-financial-services/Mon, 20 Apr 2026 07:38:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-leverages-digital-finance-to-expand-access-to-financial-services/ Prof. Ken Ife, development economist, attributed Nigeria’s recent uptick in inflation to rising energy costs and structural inefficiencies in the oil and gas sector, calling for urgent policy act]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/rising-fuel-energy-costs-drive-nigerias-inflation-experts/Mon, 20 Apr 2026 04:27:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/rising-fuel-energy-costs-drive-nigerias-inflation-experts/https://www.newslocker.com/en-ng/news/nigeria-economy-news/recapitalisation-12-insurance-firms-in-tight-corner/Mon, 20 Apr 2026 04:18:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/recapitalisation-12-insurance-firms-in-tight-corner/ The Nigerian delegation was led by the Minister of Finance and Coordinating Minister of the Econ]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-key-takeaways-from-2026-imfworld-bank-spring-meetings/Mon, 20 Apr 2026 04:18:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-key-takeaways-from-2026-imfworld-bank-spring-meetings/ The Nigerian Civil Aviation Authority (Nigerian Civil Aviation Authority) has reacted to the case involving a Nigerian passenger who accused Egypt Air of discrimination after being denied boarding.
According to the Authority, preliminary findings suggest the incident may have been linked to a visa-related technical issue rather than discriminatory treatment.
NCAA’s spokesperson Mike Achimugu, said on his X handle on Sunday that contrary to the information he received and d]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/egyptair-visa-issue-behind-boarding-denial-ncaa/Mon, 20 Apr 2026 04:14:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/egyptair-visa-issue-behind-boarding-denial-ncaa/ Nigeria is ramping up efforts to align with global sustainability reporting standards as it seeks to unlock capital flows needed to close its estimated $31.5 billion annual financing gap for the Sustainable Development Goals (SDGs), amid a broader $1 trillion yearly shortfall across developing economies.
At the centre of this push is the growing adoption of the International Sustainability Standards Board (ISSB) framework, which regulators, policymakers, and market operators]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-seeks-315bn-to-fund-development-goals/Mon, 20 Apr 2026 04:12:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-seeks-315bn-to-fund-development-goals/ While other states were piling on more domestic debts, Imo paid off N42.40 billion to emerge the first of 22 states that cut its indebtedness.
According to data released by the Debt Management Office, whereas 22 states worked hard to reduce their debts, 14 others increased theirs. While Imo recorded the largest reduction, Akwa Ibom and Bayelsa states followed by slashing theirs by N37.3]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/imo-leads-in-reduction-of-domestic-debt/Mon, 20 Apr 2026 04:11:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/imo-leads-in-reduction-of-domestic-debt/ In an assessment, the Centre for the Promotion of Private Enterprise (CPPE) described the new framework as a deliberate pivot toward industrialisation, one that could redefine investment flows, reshape supply chains, and reset competitive dynamics across multiple sectors.
The]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-2026-tariff-shake-up-has-triggered-business-reset-cppe/Mon, 20 Apr 2026 04:10:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-2026-tariff-shake-up-has-triggered-business-reset-cppe/ Nigeria’s domestic debt profile has taken a controversial turn, with the Federal Government raising N100 billion through the Unclaimed Funds Trust Fund (UFTF), sparking concerns over governance, transparency, and investor confidence.
Latest data from the Debt Management Office (DMO) shows that the instrument, listed as “UFTF FGN Security,” stood at N100 billion as of December 31, 2025. Though it accounts for just 0.12 per cent of total domestic debt, its em]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/backlash-trails-fgs-move-to-tap-unclaimed-funds-for-n100bn-loan/Mon, 20 Apr 2026 04:06:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/backlash-trails-fgs-move-to-tap-unclaimed-funds-for-n100bn-loan/ The Nigerian Safety Investigation Bureau (NSIB) had unveiled its new Conditions of Service (CoS) which it says will attract and retain specialised talent required to prevent transport disasters.
During the unveiling of the CoS in Abuja this week,  the Director General of the NSIB, Captain Alex Badeh Jnr., said that the document which has been approved by the Office of the Head of the Civil Service of the Federation, prioritises welfare and meritocracy. The NSIB said that fo]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nsib-to-provide-healthcare-for-retirees-vehicle-housing-loans-112-day-maternity-leave-for-workers/Mon, 20 Apr 2026 04:02:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nsib-to-provide-healthcare-for-retirees-vehicle-housing-loans-112-day-maternity-leave-for-workers/ With the broader financial system grappling with a funding shortfall, banks still deposited about N4.1 trillion with the Central Bank of Nigeria (CBN) over five days, underscoring a deepening divide in liquidity conditions.
The placements, made through the apex bank’s Standing Deposit Facility (SDF), came at a time when average system liquidity remained in deficit, highlighting how cash-rich banks are opting to earn risk-free returns rather than lend into the interbank]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/banks-stash-n41trn-at-cbn-in-5-days-amid-liquidity-shortfall/Mon, 20 Apr 2026 04:00:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/banks-stash-n41trn-at-cbn-in-5-days-amid-liquidity-shortfall/ Turkish Airlines and Air Peace, West Africa’s largest airline, have signed a bilateral interline agreement which will enhance seamless connectivity between Nigeria, West and Central Africa, Türkiye, and Turkish Airlines’ extensive global network.
The interline partnership enables passengers of both airlines to enjoy single-ticket travel, coordinated schedules and simplified baggage handling on selected routes and eligible itineraries.
Through this agreement, Tur]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/air-peace-turkish-airlines-sign-agreement-for-seamless-single-ticket-travel/Mon, 20 Apr 2026 04:00:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/air-peace-turkish-airlines-sign-agreement-for-seamless-single-ticket-travel/https://www.newslocker.com/en-ng/news/nigeria-economy-news/eha-amufu-college-deepen-investment-in-farming-to-tackle-food-crisis/Mon, 20 Apr 2026 03:57:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/eha-amufu-college-deepen-investment-in-farming-to-tackle-food-crisis/ Nigerian Breweries Plc has unveiled a multi-layered strategy to shield its operations from foreign exchange volatility, inflationary pressures and policy shocks in 2026.
It is pivoting from crisis recovery to a deliberate build-up of what management describes as a “financial shield” designed to prevent a repeat of the losses recorded in recent years.At its pre – 80th Annual General Meeting (AGM) media roundtable in Lagos, top executives said the company is r]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/inside-nigerian-breweries-2026-shock-survival-framework/Mon, 20 Apr 2026 03:48:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/inside-nigerian-breweries-2026-shock-survival-framework/ The equities market closed the week ended April 17 on a positive note with investors recording gains of about N8.7 trillion as the benchmark index advanced by 6.6 per cent week-on-week, reflecting sustained buying interest in large-cap stocks.Market capitalisation rose to approximately N139.8 trillion, while the All-Share Index (ASI) settled above 217,000 points, extending the market’s upward trend and lifting year-to-date returns to about 39.5 per cent.Trading activity]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/equities-market-up-66-as-investors-bag-n87trn-in-1-week/Mon, 20 Apr 2026 03:47:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/equities-market-up-66-as-investors-bag-n87trn-in-1-week/ Nigerian Exchange Limited (NGX) will extend its daily trading hours from 9:30 a.m.–2:30 p.m. to 9:00 a.m.–4:00 p.m., effective Monday, April 27, 2026, following approval from the Securities and Exchange Commission Nigeria (SEC).
The change introduces an earlier market opening and a later close, adding 90 minutes to the existing trading window. NGX said the adjustment is intended to improve market activity and allow more time for trades to be executed within a sing]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ngx-to-begin-9am4pm-trading-april-27/Mon, 20 Apr 2026 03:45:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ngx-to-begin-9am4pm-trading-april-27/  
Energia Limited has appointed Oladimeji Bashorun as its Chief Executive Officer, following the exit of Chidi Egonu.
The company disclosed that Bashorun, who previously served as Chief Operating Officer, will take over leadership after overseeing operations and contributing to the firm’s strategic direction in recent years.
Bashorun brings over two decades of experience in the oil and gas sector, having held technical and leadership roles at Shell Petroleum Develo]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/energia-appoints-bashorun-ceo/Mon, 20 Apr 2026 03:44:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/energia-appoints-bashorun-ceo/  
By Adewale Sanyaolu
Energy experts have expressed concern over the reclosure of the Strait of Hormuz, barely 24 hours after its reopening by Iran.
Since its reclosure on Saturday, several commercial vessels have been stranded mid-passage, as the standoff between Iran and the US shows no signs of resolution.
The strait, which before the current crisis served as the transit corridor for roughly 20 per cent of the world’s lique]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/more-hardship-for-nigerians-over-reclosure-of-strait-of-hormuz/Mon, 20 Apr 2026 03:42:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/more-hardship-for-nigerians-over-reclosure-of-strait-of-hormuz/ By Adewale Sanyaolu
The Chairman/Managing Director of ExxonMobil Affiliates in Nigeria, Mr. Jagir Baxi, has disclosed that the Erha Deepwater project has, over 20 years, generated over $70 billion in value, including about $23 billion to the Federal Government.
Baxi stated this when he led the Board of ExxonMobil Nigeria and its affiliates, ESSO Exploration and Production Nigeria Limited(EEPNL), on a courtesy visit to the Minister of State Petroleum Resources (Gas) Mr. Ekperikpe Ekpo, at]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-rakes-in-70bn-from-exxonmobil-erha-deepwater-project/Mon, 20 Apr 2026 03:39:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-rakes-in-70bn-from-exxonmobil-erha-deepwater-project/ The Group Chief Executive Officer of NNPC Ltd, Mr. Bashir Bayo Ojulari, has hinted that announced at OLEF 2026 that Nigeria’s upstream oil and gas sector has attracted over $24 billion in capital investment following targeted interventions by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
Ojulari stated this in his keynote address at the 2026 Oloibiri Lecture & Energy Forum (OLEF 2026) held in Abuja with the theme “Beyond Three Million Barrels]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-upstream-oil-gas-sector-attracts-24bn-investment-ojulari/Mon, 20 Apr 2026 03:38:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-upstream-oil-gas-sector-attracts-24bn-investment-ojulari/  
Shell Nigeria Exploration and Production Company Limited (SNEPCo) has teamed up with the Nigerian National Petroleum Company Limited (NNPC) and the Nigerian Content Development and Monitoring Board (NCDMB) to deliver a Geosciences Centre of Excellence at the University of Lagos, a world-class learning and research hub in a critical sector of the economy.
The centre which was commissioned at the weekend is a five-level structure equipped with state-of-the-art learning a]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/shell-nnpc-ncdmb-deliver-geosciences-centre-of-excellence-at-unilag/Mon, 20 Apr 2026 03:37:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/shell-nnpc-ncdmb-deliver-geosciences-centre-of-excellence-at-unilag/ From Uche Usim, Washington DCCentral Bank of Nigeria (CBN) Governor, Dr Olayemi Cardoso, has calmed concerns over recent movements in Nigeria’s external reserves, insisting there is “no cause for alarm” despite short-term dips that have triggered public anxiety.
Speaking on the development on Friday at a media briefing to mark the end of the IMF-World Bank Spring Meetings in Washingto]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/no-cause-for-alarm-over-dipping-reserves-cardoso/Mon, 20 Apr 2026 03:28:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/no-cause-for-alarm-over-dipping-reserves-cardoso/ The initiative, unveiled during a high-level engagement between both institutions, is a coordinated push to restore order to revenue administration and ease the burden on businesses and commuters long subjected to arbitrary levies.
Executive Secretary of the JRB, Segun Adesokan, said the]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/jrb-police-launch-nationwide-crackdown-on-illegal-tax-collection/Mon, 20 Apr 2026 03:26:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/jrb-police-launch-nationwide-crackdown-on-illegal-tax-collection/ At an inauguration ceremony in Abuja over the weekend, the industry’s newly installed FCT leadership laid out an ambitious roadmap anchored on storytelling, youth engagement, and a proposed multi-billion naira film village designed to transform prod]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/igbowood-debuts-plans-multi-billion-naira-film-village/Mon, 20 Apr 2026 03:25:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/igbowood-debuts-plans-multi-billion-naira-film-village/ The company said the increase shows rising investor confidence and a strong market response to its restructuring and growth strategy.
IEI disclosed this at its Capital Markets Day recently held in Lagos, where it engaged investors, analysts and other capital market stakeholders on its financial performance and long-term strategic direction. The event served as a pl]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/iei-records-700-stock-growth-in-3-yrs/Mon, 20 Apr 2026 03:23:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/iei-records-700-stock-growth-in-3-yrs/ A strong call for urgent action on youth unemployment took centre stage at a national prayer conference, tagged “New Wine/Fresh Fire Conference 2026,” in Sango-Ota, Ogun State, where religious leaders and policy advocates warned that Nigeria’s future stability depends on how effectively it engages its growing young population.
Addressing journalists at Rhema Christian Church & Towers on Saturday, Archbishop Taiwo Akinola, l]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/church-leaders-demand-urgent-solution-to-growing-youth-unemployment/Mon, 20 Apr 2026 02:43:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/church-leaders-demand-urgent-solution-to-growing-youth-unemployment/ A new International Labour Organization (ILO) report is advocating for a decisive strengthening of social protection systems worldwide, warning th]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ilo-calls-for-stronger-social-protection-for-workers-globally/Mon, 20 Apr 2026 02:38:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ilo-calls-for-stronger-social-protection-for-workers-globally/ The Nigeria Labour Congress (NLC) has issued a powerful Easter message blending faith with politics, calling on the nation’s leaders to embrace sacrifice and deliver meaningful change, while warning that Nigerian workers will no longer bear the burden of what it described as “unjust suffering.”
The NLC in its Easter message by its President, Joe Ajaero framed Easter as more than a religious ce]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nlc-demands-leadership-with-responsibility/Mon, 20 Apr 2026 02:35:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nlc-demands-leadership-with-responsibility/ In a strongly-worded statement issued in Abuja, the union’s top officials called for calm, insisting that the April 15, 2026, judgment obtained by the former union president, Innocent Bola-Audu, was already being challenged at the appellate level.
National president, Sh]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ascsn-urges-calm-reassures-members-amid-fresh-legal-dispute/Mon, 20 Apr 2026 02:34:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ascsn-urges-calm-reassures-members-amid-fresh-legal-dispute/ The Dangote Peugeot Automobiles Nigeria Limited (DPAN) plant in Kaduna has formally commenced the production of the new Peugeot 3008 and 5008 range.
The first vehicles are expected to go on sale any time from April 2026, offered in Allure and top-of-the-range GT trims, and powered by a 1.6-litre THP petrol engine developing 163 hp, paired with the EAT6 automatic transmission.
 Peugeot 3008 GT fresh from the production line of DPAN, Kaduna
 
Built four years ago, the Gr]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/after-landtrek-pick-up-success-dangote-peugeot-begins-3008-5008-assembly-in-kaduna/Mon, 20 Apr 2026 02:14:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/after-landtrek-pick-up-success-dangote-peugeot-begins-3008-5008-assembly-in-kaduna/ Coscharis Motors, the leading representative of various global automobile brands in Nigeria, is advancing its mission to deliver cleaner and sustainable mobility solutions across Nigeria.
This is in a strategic partnership with Asia Star, a leading Chinese electric bus manufacturer
Following the successful deployment of Asia Star electric buses to Abia State, the Asia Star team recently visited Coscharis Motors’ facilities in Lagos while on a working engagement aimed at de]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/coscharis-motors-asia-star-partner-to-drive-electric-mobility-in-nigeria/Mon, 20 Apr 2026 02:09:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/coscharis-motors-asia-star-partner-to-drive-electric-mobility-in-nigeria/ Nigeria’s automotive landscape witnessed a significant shift on Wednesday as Soueast formally entered the Nigerian market, courtesy of the Kewalram Chanrai Group.The entry was marked by a media launch, followed by a test-drive of its full range of SUVs along the scenic Coastal Highway in Lagos, signalling a fresh wave of competition in the fast-evolving mobility space.
The high-profile event brought together dealerships, media and auto enthusiasts, offering first-hand expe]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/soueast-makes-bold-entry-with-suv-line-up-targets-local-production/Mon, 20 Apr 2026 02:06:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/soueast-makes-bold-entry-with-suv-line-up-targets-local-production/  
CFAO Mobility has announced plans to host the 2026 edition of its flagship event, the CFAO Mobility Open Day, aimed at showcasing a broad range of innovative mobility solutions.
According to a statement issued by the company, the event will take place on Thursday, April 30, 2026, at Harbour Point, Victoria Island, Lagos, from 9:00 a.m. to 6:00 p.m.The Open Day is expected to bring together leading global automotive and equipment brands in a dynamic exhibition designed to]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/cfao-open-day-to-feature-special-deals-on-new-vehicles-spare-parts-diagnostics/Mon, 20 Apr 2026 02:05:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cfao-open-day-to-feature-special-deals-on-new-vehicles-spare-parts-diagnostics/  
The commercial vehicle segment of Nigeria’s automotive industry is on the verge of significant growth as Chery considers a strategic expansion of its product portfolio in the country.
Obviously one of China’s leading automobile manufacturers and an exporting champion among all Chinese passenger vehicle manufacturers, for 23 consecutive years, Chery is poised to make remarkable investments in the commercial vehicle segment in Nigeria.
This was disclosed by Mr.]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/chery-targets-nigerias-commercial-vehicle-market-in-strategic-expansion-with-carloha/Mon, 20 Apr 2026 02:02:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/chery-targets-nigerias-commercial-vehicle-market-in-strategic-expansion-with-carloha/ One of the Federal Road Safety Corps’ finest officers, Deputy Corps Marshal Hyginus Omeje, has bowed out of service in a blaze of glory.
DCM Omeje retired from the corps after attaining the statutory retirement age of 60 years, bringing to a close decades of distinguished service to the nation.
  
He joined the FRSC in October 1992 and retired in March 2026 as the Deputy Corps Marshal in charge of Operations.
At a formal pull-out parade—usually accorded to]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/frsc-honours-retiring-dcm-omeje-with-grand-pull-out-parade-at-60/Mon, 20 Apr 2026 01:58:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/frsc-honours-retiring-dcm-omeje-with-grand-pull-out-parade-at-60/  
Your car battery provides the energy your vehicle needs to operate. Without one, you can’t start your vehicle, let alone drive it. While most car batteries have an expected lifespan of about three to five years, there are things you can do to ensure they reach those benchmarks.
How do car batteries work?
An automotive battery is an electrochemical storage device that converts chemical energy into electrical energy and comprises three basic components:
1. Electrodes]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/smart-ways-to-extend-life-of-your-car-battery/Mon, 20 Apr 2026 01:49:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/smart-ways-to-extend-life-of-your-car-battery/ The Minister, accompanied by the Executive Secretary of the National Sugar Development Council (NSDC), Mr Kamar Bakrin, gave the charge when he visited the GSC Complex in Sunti, Niger State.
The visit was the]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/sugar-production-fg-tasks-flour-mills-on-300000mt-target-by-2030/Sun, 19 Apr 2026 17:44:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/sugar-production-fg-tasks-flour-mills-on-300000mt-target-by-2030/ The effort was made as part of a campaign to preserve the Igbo culture and language, which some stakeholders fear is nearing extinction.
The leadership stated that for this to come to fruition, it will embark on a project to build a multi-billion-naira Igbowood]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/igbowood-film-industry-debuts-to-sustain-culture/Sun, 19 Apr 2026 15:12:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/igbowood-film-industry-debuts-to-sustain-culture/ Leading the initiative, Lagos Port Manager Adebowale Lawal Ibrahim emphasised the importance of driver fitness in ensuring safe port operations:
“We must be certain that individuals operating heavy-duty trucks are fully alert and in the right sta]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/mandatory-drug-tests-for-truckers-in-npa-apm-terminals-safety-drive/Sun, 19 Apr 2026 14:47:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/mandatory-drug-tests-for-truckers-in-npa-apm-terminals-safety-drive/ By Henry Uche
 
Top tax administrators and leading economists in Nigeria would rigorously examine Nigeria’s recent tax reforms at an annual tax conference, with a sharp focus on aligning policy with global standards, boosting competitiveness, and unlocking stronger economic positioning on the world stage.
Put together by Chartered Institute of Taxation of Nigeria(CITN), the 28th discourse themed: ‘Tax Reforms and Global Relevance: P]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/tax-reforms-ceos-economists-to-brainstorm-position-nigeria-for-global-clout/Sun, 19 Apr 2026 05:29:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/tax-reforms-ceos-economists-to-brainstorm-position-nigeria-for-global-clout/ Ejioye was selected by a review committee based on the depth and diversity of his experience, spanning business, leadership development, and public service. The criteria for acceptance include a demonstrated track record of impacting business growth metric]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ayorinde-ejioye-inducted-into-forbes-business-council/Sat, 18 Apr 2026 18:38:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ayorinde-ejioye-inducted-into-forbes-business-council/ The problem, mainly costs of adoption, they noted, is a major brake on real-world adoption.
Speaking on the panel, Neil Thompson of MIT, said the biggest hurdle is not building powerful AI models]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/real-reasons-ai-gains-are-slow-experts-2/Sat, 18 Apr 2026 05:48:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/real-reasons-ai-gains-are-slow-experts-2/ Stakeholders have renewed calls for the revival of Nigeria’s paper industry, stressing its importance to economic growth, job creation, and sustainable development.The appeal was made during activities marking World Envelope Day, where industry leaders emphasised the need for urgent government intervention to reposition the sector.
Speaking at the event, Managing Director and Chief Executive Officer of FAE Limited, Princess ’Layo Bakare-Okeowo, urged the government to re]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fae-stakeholders-call-for-revival-of-nigerias-paper-industry/Sat, 18 Apr 2026 05:44:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fae-stakeholders-call-for-revival-of-nigerias-paper-industry/ Following the intervention of the Minister of Aviation and Aerospace Development, Festus Keyamo, the Airline Operators of Nigeria (AON) has agreed to temporarily suspend the planned shutdown of operations scheduled for Monday.
In a statement released Friday evening after a meeting, the body said it reached a concessionary but conditional decision following robust deliberations by members of the Executive Council (Exco) and Trustees in consideration of an intervention the associa]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fuel-crisis-airlines-suspend-planned-shutdown-of-flight-operations/Sat, 18 Apr 2026 02:37:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fuel-crisis-airlines-suspend-planned-shutdown-of-flight-operations/ Following the intervention of the Minister of Aviation and Aerospace Development, Festus Keyamo, the Airline Operators of Nigeria (AON) has agreed to temporarily suspend the planned shutdown of operations scheduled for Monday.
‎In a statement released Friday evening after a meeting, the body said it reached a concessionary but conditional decision following robust deliberations by members of the Executive Council (Exco) and Trustees in consideration of an intervention t]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fuel-crisis-airlines-temporarily-suspends-planned-shutdown-of-flight-operations/Fri, 17 Apr 2026 22:56:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fuel-crisis-airlines-temporarily-suspends-planned-shutdown-of-flight-operations/ Following the intervention of the Minister of Aviation and Aerospace Development, Festus Keyamo, the Airline Operators of Nigeria (AON) has agreed to temporarily suspend the planned shutdown of operations scheduled for Monday.
‎In a statement released Friday evening after a meeting, the body said it reached a concessionary but conditional decision following robust deliberations by members of the Executive Council (Exco) and Trustees in consideration of an intervention t]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fuel-crisis-airlines-temporarily-suspend-planned-shutdown-of-flight-operations/Fri, 17 Apr 2026 22:56:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fuel-crisis-airlines-temporarily-suspend-planned-shutdown-of-flight-operations/ The apex bank, in a statement issued by its Acting Director of Corporate Communications, Mrs Hakama Sidi Ali, on Friday, said the introduction of NOFR marks a significant step]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-moves-to-reform-nigerias-money-market-with-nofr/Fri, 17 Apr 2026 22:10:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-moves-to-reform-nigerias-money-market-with-nofr/ The National President of the Aviation and Airport Services Senior Staff Association of Nigeria (ATSSSAN), John Ogbe, has warned that the association will mobilise against government agencies obstructing the release of ₦36 billion in outstanding severance benefits owed to over 5,000 former Nigerian Airways employees.
Speaking to Daily Sun in support of the ex-workers, Ogbe commended President Bola Tinubu for approving the final tranche of the long-overdue severance package]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/atsssan-vows-to-mobilise-against-agencies-stalling-36bn-nigeria-airways-ex-workers-payment/Fri, 17 Apr 2026 21:04:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/atsssan-vows-to-mobilise-against-agencies-stalling-36bn-nigeria-airways-ex-workers-payment/ Nigeria has committed $500,000 to the African Regional Technical Assistance Centre in West Africa (AFRITAC West 2), as part of its efforts to bolster the human and institutional capacity required to navigate an increasingly complex global economy.
AFRITAC West 2 is an IMF-supported regional technical assistance centre aimed at strengthening economic institutions, fostering macroeconomic stability, and combating poverty across West African countries.
The contributio]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-commits-500000-to-strengthen-west-africas-human-institutional-capacity/Fri, 17 Apr 2026 20:24:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-commits-500000-to-strengthen-west-africas-human-institutional-capacity/ Nigeria’s off-grid power developers have secured approximately $83 million in International Finance Corporation (IFC)-backed financing under the Distributed Access through Renewable Energy Scale-Up (DARES) programme, signalling growing investor confidence in the country’s distributed energy market.
The financing will support an initial group of Nigerian renewable energy companies deploying mini-grids and solar home systems in communities with limited or no grid]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-off-grid-developers-secure-83m-ifc-financing-as-investor-confidence-rises/Fri, 17 Apr 2026 20:20:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-off-grid-developers-secure-83m-ifc-financing-as-investor-confidence-rises/ The Minister of State for Petroleum (Gas), Ekperikpo Ekpo, has disclosed that Nigeria supplies over 68 per cent of total pipeline gas to the downstream market in Benin Republic, Togo, and Ghana, as part of the West African Gas Pipeline (WAGP) treaty.
Ekpo, who is the Chairman of the Committee of Ministers of the West African Gas Pipeline (WAGP), stated this at a meeting of the ministers yesterday in Abuja. He disclosed that in 2025, the WAGP infrastructure recorded a transp]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-supplies-68-of-gas-to-benin-republic-togo-and-ghana-minister/Fri, 17 Apr 2026 19:17:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-supplies-68-of-gas-to-benin-republic-togo-and-ghana-minister/ ‎The Chancellor of Ekiti State University (EKSU), Dr. Tunji Olowolafe, has called for meaningful educational reforms that prioritise lecturers, noting that “we celebrate graduates, but rarely ask who made them possible, the teachers.
Speaking at the University’s 30th Convocation Ceremony in Ado-Ekiti, Dr. Olowolafe warned that “a lecturer who ceases to grow can no longer truly teach.”
He disclosed that through the Tunji Olowolafe Foundation, 37 EKSU l]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/education-reforms-must-prioritise-lecturers-welfare-capacity-building-eksu-chancellor/Fri, 17 Apr 2026 18:44:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/education-reforms-must-prioritise-lecturers-welfare-capacity-building-eksu-chancellor/https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-financial-markets-dealers-introduce-new-money-market-benchmark/Fri, 17 Apr 2026 15:49:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cbn-financial-markets-dealers-introduce-new-money-market-benchmark/ ‎By Chinelo Obogo
The Minister of Aviation and Aerospace Development, Festus Keyamo, has appealed to domestic airlines not to increase airfares or suspend flight operations, as carriers grapple with an increase in the cost of aviation fuel.
‎In a letter addressed to airline operators, Keyamo warned that an increase in airfares would cause hardship for the passengers and that any suspension of flight operations could disrupt movement, erode public]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/keyamo-pleads-with-domestic-airlines-against-shutting-operations-increasing-fares/Fri, 17 Apr 2026 15:32:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/keyamo-pleads-with-domestic-airlines-against-shutting-operations-increasing-fares/ Nigeria’s two major telecommunications operators, MTN Nigeria and Airtel Nigeria, have announced the temporary suspension of their airtime and data credit services as they move to comply with new regulatory requirements governing digital lending in the country.
MTN Nigeria disclosed the development in a corporate notice filed with the Nigerian Exchange Limited (NGX), stating that its Xtratime service — which allows subscribers to borrow airtime or data and repay]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/mtn-airtel-suspend-airtime-data-credit-services-over-new-lending-regulations/Fri, 17 Apr 2026 14:26:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/mtn-airtel-suspend-airtime-data-credit-services-over-new-lending-regulations/ The federal government has ruled out any immediate plan to approach the International Monetary Fund (IMF) for fresh loans, opting instead to double down on key economic reforms, domestic resource mobilisation, and private sector-driven growth to ease mounting debt pressures.
Speaking against the backdrop of rising concerns over Africa’s debt vulnerability, the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, noted that while global]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/no-plans-for-fresh-imf-loans-to-tackle-fiscal-pressures-edun/Fri, 17 Apr 2026 11:29:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/no-plans-for-fresh-imf-loans-to-tackle-fiscal-pressures-edun/ To close Nigeria’s wide infrastructure gap, estimated at $2.3 trillion, the director-general of the Infrastructure Concession Regulatory Commission (ICRC), Dr Jobson Ewalefoh, has revealed that the federal government is leaning heavily on private sector capital to bridge funding shortfalls and accelerate project delivery.
Speaking on the sidelines of the Global Infrastructure Facility, a G20 initiative, at the IMF-World Bank Spring Meetings in Washington yesterday, Ewalefoh]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-ramps-up-ppp-drive-to-close-23-trillion-infrastructure-gap/Fri, 17 Apr 2026 11:22:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-ramps-up-ppp-drive-to-close-23-trillion-infrastructure-gap/ Tech and economic experts rose from a panel at the ongoing Spring Meetings of the IMF-World Bank in Washington DC on Wednesday, articulating reasons why Artificial Intelligence (AI) may promise sweeping productivity gains but is battling a stubborn “last mile” problem.
The problem, mainly the costs of adoption, they noted, is a major brake on real-world adoption.
Speaking on the panel, Neil Thompson of MIT said the biggest hurdle is not building powerfu]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/real-reasons-ai-gains-are-slow-experts/Fri, 17 Apr 2026 10:43:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/real-reasons-ai-gains-are-slow-experts/ MTN Nigeria has announced that applications are now open for the fifth edition of its Media Innovation Programme (MIP) with an expanded cohort of 25 fellows, increasing from 20 in previous editions.The expansion to 25 is symbolic, marking MTN Nigeria’s 25th anniversary and reinforcing its continued commitment to supporting the development of Nigeria’s media landscape.
As MTN Nigeria marks 25 years of connecting people, the programme represents a parallel investment in t]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/applications-open-for-2026-mtn-media-innovation-programme/Fri, 17 Apr 2026 10:03:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/applications-open-for-2026-mtn-media-innovation-programme/https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-net-domestic-assets-rises-203-to-n938trn/Fri, 17 Apr 2026 08:20:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-net-domestic-assets-rises-203-to-n938trn/https://www.newslocker.com/en-ng/news/nigeria-economy-news/inflation-rise-poses-significant-risks-to-business-sustainability-lcci/Fri, 17 Apr 2026 08:10:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/inflation-rise-poses-significant-risks-to-business-sustainability-lcci/ The fund also warned of a rising debt burden for the country, as Nigeria’s crude oil grades sold above $113 per barrel at the international market, yesterday, raising fresh optimism over stronger gove]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/rising-costs-imf-warns-of-tough-times-for-nigerians/Fri, 17 Apr 2026 06:18:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/rising-costs-imf-warns-of-tough-times-for-nigerians/ By Chinelo Obogo and Adewale Sanyaolu
Fuel marketers have pushed back against claims that airlines are being charged N3,300 per litre for Aviation Turbine Kerosene (Jet A1), describing the figure as more than N1,000 above their average price, while also assuring domestic operators that the cost of fuel is expected to fall in the coming weeks.
Domestic carriers on the platform of the Airline Operators of Nigeria (AON), had on April 14, threatened to shut d]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fuel-marketers-deny-charging-airlines-n3300-for-jet-a1/Fri, 17 Apr 2026 03:58:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fuel-marketers-deny-charging-airlines-n3300-for-jet-a1/ It described it as a key reform that is already strengthening financial stability, improving macroeconomic resilience and enhancing the country’s capacity to absorb external shocks in an increasingly volatile global environment.
The Fund said the Central Bank of Nigeria (CBN)-led exercise, spe]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/how-nigerias-banking-recapitalisation-won-imf-backing-amid-global-turbulence/Fri, 17 Apr 2026 03:19:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/how-nigerias-banking-recapitalisation-won-imf-backing-amid-global-turbulence/ From Uche Usim, Washington DCFrom the International Monetary Fund (IMF) comes a clear warning to Nigeria and others within the Sub-Saharan bloc to keep sovereign debt at manageable levels to avoid being boxed into a debt trap.
Nigeria’s public debt climbed sharply to N159.27 trillion by the end of 2025, a development that highlights mounting fiscal pressures as government borrowing accelerates across fe]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/imf-to-nigeria-keep-debt-at-manageable-levels/Fri, 17 Apr 2026 03:16:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/imf-to-nigeria-keep-debt-at-manageable-levels/  
L-R: Kwabena Akuamoah-Boateng, Senior Communications Officer, IMF; Abebe Selassie, Director of the African Department, IMF and Ahmadou Sy of IMF at the Regional Economic Outlook for Sub-Saharan Afr]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-eyes-hosting-african-monetary-institute-as-aus-single-currency-plan-nears-fruition/Fri, 17 Apr 2026 03:13:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-eyes-hosting-african-monetary-institute-as-aus-single-currency-plan-nears-fruition/ The Managing Director and chief executive officer, Thibault Boidin, disclosed this during the company’s pre-80th annual general meeting media briefing in Lagos on Thursday. He noted that the brewer is building on]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerian-breweries-projects-strong-2026-growth-amid-economic-uncertainty/Fri, 17 Apr 2026 03:10:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerian-breweries-projects-strong-2026-growth-amid-economic-uncertainty/ President of NiRA, Adesola Akinsanya, delivered the warning at the .ng Media Advocacy and Capacity Building Initiative in Lagos yesterday, where he urged media professionals to take a more strategic rol]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nira-warns-on-digital-identity-gap-urges-shift-to-ng-domains/Fri, 17 Apr 2026 03:09:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nira-warns-on-digital-identity-gap-urges-shift-to-ng-domains/  
By Chinelo Obogo
Despite its vast population and growing economy, Nigeria’s air travel market remains largely underdeveloped, with only about 17 million passengers recorded annually across 28 airports out of over 220 million people.The Managing Director of the Federal Airports Authority of Nigeria (FAAN), Mrs. Olubunmi Kuku, made the disclosure at the Ethiopian Aviation Forum in Addis Ababa held this week as a panelist.
She explained]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/only-17m-people-fly-out-of-220m-population-kuku-faan-md/Fri, 17 Apr 2026 03:06:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/only-17m-people-fly-out-of-220m-population-kuku-faan-md/ By Chinelo Obogo    
 talktonelo@yahoo.com 
Nigerian airlines are bleeding, not from tardy operations, but from external factors completely outside their control.
At the centre of their nightmare is bird strikes. They are losing millions of dollars on a regular basis to this menace, which continues to fracture their wings and literally cripple their operations]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerian-airlines-bleed-lose-billions-as-bird-strikes-ground-aircraft-disrupt-flights/Fri, 17 Apr 2026 03:06:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerian-airlines-bleed-lose-billions-as-bird-strikes-ground-aircraft-disrupt-flights/  
Former members of staff of the defunct Nigeria Airways have appealed to President Bola Tinubu to give an order to enforce the approval to clear their entitlements of N36 million.
During a press briefing in Lagos on Thursday, the former workers led by Capt. Prekene Porbeni, said that more than two 20 years after the liquidation of the airline, they are still owed N36 billion from an agreed N78 billion settlement despite the approval President Tinubu made in June 2025]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerian-airways-ex-workers-cry-out-over-n36bn-unpaid-benefits-after-20-years/Fri, 17 Apr 2026 03:02:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerian-airways-ex-workers-cry-out-over-n36bn-unpaid-benefits-after-20-years/ nwekemaduka88@gmail.com
In an economy weighed down by inflation, currency volatility and slowing growth, Nigeria’s real estate sector is expanding and positioning itself as one of the country’s most resilient investment frontiers.
Fresh data from Access Research Nigeria indicates that the nation’s property market is projected to hit between $2.42 trillion and $2.81 trillion in value by the end of 2026.The surge, analysts say, is less a coincidence and more of a]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/boom-amid-gloom-nigerias-property-projected-to-hit-242trn-by-year-end/Fri, 17 Apr 2026 03:00:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/boom-amid-gloom-nigerias-property-projected-to-hit-242trn-by-year-end/ Nigeria’s housing deficit has climbed to an estimated 14.9–15 million units as of early 2026, highlighting a widening supply gap in Africa’s most populous nation.The figure, confirmed in a Federal Ministry of Housing and Urban Development report, comes as the country’s population surpasses 241 million, growing at about 2.5 per cent annually.
A January 2026 assessment by the National Housing Data Technical Committee places the shortfall at 14.925 million un]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/housing-deficit-widens-population-soars/Fri, 17 Apr 2026 02:59:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/housing-deficit-widens-population-soars/ Suspension of flights to go on unless… By Chinelo Obogo
Despite denials by marketers that there is no manipulation in cost of aviation fuel, the Airline Operators of Nigeria (AON) has insisted they are causing artificial scarcity and inflation.
Speaking on Channels TV on Thursday, the spokesperson of the AON, Prof. Obiora Okonkwo, said some Nigerian airlines may be forced to suspend operations before Monday if the prici]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/just-in-we-buy-jet-a1-at-n3300-nigerian-airlines-insist/Thu, 16 Apr 2026 21:48:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/just-in-we-buy-jet-a1-at-n3300-nigerian-airlines-insist/ Concerned stakeholders in Nigeria’s freight forwarding and clearing sector have lamented that the persistent hike in tariffs in the nation’s maritime sector is stifling trade, discouraging indigenous participation, and worsening economic hardship across the country.
The stakeholders, who spoke during a media engagement in Lagos yesterday,unanimously called for an urgent review of the current tariff structure, stricter enforcement of local content laws, and the introdu]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/persistent-tariff-hikes-crippling-trade-worsen-economic-hardship-concerned-stakeholders/Thu, 16 Apr 2026 15:04:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/persistent-tariff-hikes-crippling-trade-worsen-economic-hardship-concerned-stakeholders/https://www.newslocker.com/en-ng/news/nigeria-economy-news/elumelu-effect-drives-seplat-to-historic-n10000-first-ngx-stock-to-cross-barrier/Thu, 16 Apr 2026 12:16:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/elumelu-effect-drives-seplat-to-historic-n10000-first-ngx-stock-to-cross-barrier/https://www.newslocker.com/en-ng/news/nigeria-economy-news/dangote-sugar-shareholders-approve-n500bn-rights-issue-for-strategic-expansion/Thu, 16 Apr 2026 10:18:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/dangote-sugar-shareholders-approve-n500bn-rights-issue-for-strategic-expansion/https://www.newslocker.com/en-ng/news/nigeria-economy-news/ngx-boi-set-to-deepen-sme-financing-drive/Thu, 16 Apr 2026 10:07:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ngx-boi-set-to-deepen-sme-financing-drive/https://www.newslocker.com/en-ng/news/nigeria-economy-news/ndic-commences-process-to-conclude-the-liquidation-of-89-mfbs-pmb/Thu, 16 Apr 2026 09:46:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ndic-commences-process-to-conclude-the-liquidation-of-89-mfbs-pmb/https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-daily-oil-production-rises-42-to-154mbpd-nuprc/Thu, 16 Apr 2026 09:36:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-daily-oil-production-rises-42-to-154mbpd-nuprc/https://www.newslocker.com/en-ng/news/nigeria-economy-news/middle-east-crisis-imf-plans-50bn-lifeline-for-nigeria-others/Thu, 16 Apr 2026 09:22:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/middle-east-crisis-imf-plans-50bn-lifeline-for-nigeria-others/https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-public-debt-up-10-to-n159trn-in-2025dmo/Thu, 16 Apr 2026 09:10:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-public-debt-up-10-to-n159trn-in-2025dmo/https://www.newslocker.com/en-ng/news/nigeria-economy-news/ifad-to-boost-discussions-at-2026-vanguard-economic-discourse/Thu, 16 Apr 2026 09:03:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ifad-to-boost-discussions-at-2026-vanguard-economic-discourse/https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-inflation-rate-rise-to-1538-after-11-months-decline/Thu, 16 Apr 2026 08:57:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-inflation-rate-rise-to-1538-after-11-months-decline/https://www.newslocker.com/en-ng/news/nigeria-economy-news/naira-rises-to-n1393-in-parallel-market/Thu, 16 Apr 2026 06:15:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/naira-rises-to-n1393-in-parallel-market/ The Senate has issued a directive to the management of the Nigerian National Petroleum Company Limited (NNPCL) to appear before its Committee on Public Accounts on April 29, to account for an alleged N210 trillion flagged in audit reports spanning 2017 to 2023.
The committee also ordered the Group Chief Executive Officer, Bayo Ojulari, to appear alongside the immediate past GCEO, Mele Kyari, former Chief Financial Officer, Umar Ajia, Bala Wunti as well as the company&rsq]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nnpcl-must-account-for-n210trn-by-april-29-senate-insists/Thu, 16 Apr 2026 02:50:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nnpcl-must-account-for-n210trn-by-april-29-senate-insists/ From May 1, 2026, China will eliminate tariffs on imports from 53 African countries, including Nigeria.
The tariff-free access presents Africa’s largest population a rare opening to recalibrate its export strategy and strengthen its position in global value chains.
For decades, Nigeria’s]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/expanding-value-added-exports-via-chinas-tariff-free-door/Thu, 16 Apr 2026 02:42:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/expanding-value-added-exports-via-chinas-tariff-free-door/ The Pan-African Manufacturers Association (PAMA) has lamented that investment flows into manufacturing in Africa are not only small but also structurally weak, with minimal penetration into technology-intensive industries.
In the March 2026 edition of the PAMA News Bulletin, despite global expansion in high-value industrial sectors such as electronics and automotive manufacturing, Africa’s participation remains limited.“Analysts note that Africa’s role in global ma]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/pama-manufacturing-sector-still-struggling-to-attract-strong-investments/Thu, 16 Apr 2026 02:39:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/pama-manufacturing-sector-still-struggling-to-attract-strong-investments/ The Enterprise Development Center (EDC) of the Pan Atlantic University has collaborated with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Alliance for a Green Revolution in Africa (AGRA) and Kaduna Business School to strengthen the capacity of Agriculture Small and Medium Enterprises (SMEs) and Business Development Services Programmes (BDSP) in Nigeria.
This was made known at the recently held EDC’s AG-SME Bootcamp and Pitch Competition, a three-day]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/edc-agra-others-partner-to-empower-agric-smes/Thu, 16 Apr 2026 02:39:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/edc-agra-others-partner-to-empower-agric-smes/  
Lafarge Africa Plc, a manufacturer of cement, ready-mix, mortar and Plaster of Paris products, celebrated the graduation of 15 female truck drivers alongside five community drivers under its flagship Women on Wheels initiative.The graduation ceremony held recently at the company’s Ashaka Cement Plant in Gombe State.
The newly inducted female drivers underwent rigorous technical and safety training. They were equipped with the competencies required to operate heavy-duty]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/15-women-qualify-as-truck-drivers-under-lafarge-initiative/Thu, 16 Apr 2026 02:36:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/15-women-qualify-as-truck-drivers-under-lafarge-initiative/ However, on a month-on-month basis, the food inflation rate in March 2026 was 4.17 per cent, down 0.52 percentage points from February 2026 (4.69 per cent). National Bureau of Statistics (NBS), attributed this to the rate of change in the average prices of the following products: Yam, ginger (fresh), cassava tuber, grou]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/inflation-rises-to-1538-in-march-from-1506-in-february/Thu, 16 Apr 2026 02:34:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/inflation-rises-to-1538-in-march-from-1506-in-february/ By Chinelo ObogoBarring any meaningful intervention, domestic carriers on the platform of Airlines Operators of Nigeria (AON) have threatened to shut down operations on Monday, April 20, accusing marketers of 300 per cent hike in Jet A1.
Daily Sun learnt that the planned withdrawal of services was contained in a letter dated April 15, 2026 from the AON President, Abdulmunaf Sarina.
He revealed t]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/airlines-to-shutdown-operations-april-20-over-300-jet-fuel-price-surge/Thu, 16 Apr 2026 02:34:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/airlines-to-shutdown-operations-april-20-over-300-jet-fuel-price-surge/ The affected institutions were among 179 MFBs and four PMBs whose operating licences were withdrawn by the Central Bank of Nigeria (CBN) on May 22 and 23, 2023, as part of broader reforms to clean up the financial services sector and ad]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ndic-liquidates-89-failed-mfbs-pmbs-after-asset-transfer-deal/Thu, 16 Apr 2026 02:32:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ndic-liquidates-89-failed-mfbs-pmbs-after-asset-transfer-deal/ New figures released by the Debt Management Office (DMO) show the debt stock rose by N5.98 trillion from N153.29 trillion recorded at the end of the third quarter of 2025. On a year-on-year basis, the increase is more pronounced, with the total debt expanding by N14.6 trillion from N1]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-sovereign-debt-hits-n159trn-adds-n14trn-in-1-year/Thu, 16 Apr 2026 02:31:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigerias-sovereign-debt-hits-n159trn-adds-n14trn-in-1-year/ It aims to deliver water security to more than one billion people by 2030 through coordinated reforms, financing and large-scale partnerships.
Branded Water Forward, the platform brings together multilateral lenders, development finance institutions, governments and private investors in what is shaping up to be one of the most structured efforts yet to u]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/world-bank-tackles-global-water-crisis-targets-1bn-people/Thu, 16 Apr 2026 02:29:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/world-bank-tackles-global-water-crisis-targets-1bn-people/ Opening the Fund’s Fiscal Monitor press briefing on Wednesday, IMF Managing Director, Kristalina Georgieva, said the global economy is entering another period of uncertainty, with the fallout from the confli]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/imf-africa-hardest-hit-as-meast-war-threatens-global-growth/Thu, 16 Apr 2026 02:28:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/imf-africa-hardest-hit-as-meast-war-threatens-global-growth/ The International Monetary Fund (IMF) has warned that the escalating conflict in the Middle East could significantly slow global economic growth, deepen fiscal strains, and disproportionately hurt vulnerable economies, particularly across sub-Saharan Africa.
Opening the Fund’s Fiscal Monitor press briefing on Wednesday, IMF Managing Director Kristalina Georgieva said the global economy is entering another period of uncertainty, with the fallout from the confl]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/imf-africa-hardest-hit-as-middle-east-war-threatens-global-growth/Wed, 15 Apr 2026 23:25:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/imf-africa-hardest-hit-as-middle-east-war-threatens-global-growth/ This was revealed by Pipeline Infrastructure Nigeria Limited (PINL), which stated that the time to act is now. Speaking at its monthly stakeholders’ meeting in Port Harcourt, Rivers State, on Wednesday, PINL described the resumption of oil operations in the region as a strategic national priority.
General Ma]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-loses-226bn-revenue-following-oil-suspension-in-ogoniland-pinl/Wed, 15 Apr 2026 22:27:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-loses-226bn-revenue-following-oil-suspension-in-ogoniland-pinl/ The disclosure, made in a public notice dated April 15, 2026, informed stakeholders that the Commission is currently reviewing the breach and assessing its potential impact.
According to the Commission, response protocols have been activated, with cont]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/cac-cyberattack-scare-users-advised-to-secure-accounts/Wed, 15 Apr 2026 21:39:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/cac-cyberattack-scare-users-advised-to-secure-accounts/ The committee also ordered the Group Chief Executive Officer, Bayo Ojulari, to appear alongside the immediate past GCEO, Mele Kyari, former Chief Financial Officer Umar Ajia, and Bala Wunti, as w]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/senate-insists-nnpcl-must-account-for-n210-trillion-by-april-29/Wed, 15 Apr 2026 21:28:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/senate-insists-nnpcl-must-account-for-n210-trillion-by-april-29/ In a statement issued on Wednesday, the Corporation disclosed that the affected institutions have already been taken over by new investors, recapitalised, and are now operating under new identities. This marks a tra]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ndic-moves-to-dissolve-90-defunct-banks-after-resolution/Wed, 15 Apr 2026 21:21:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ndic-moves-to-dissolve-90-defunct-banks-after-resolution/ The Managing Director and Chief Executive Officer of the Nigerian Ports Authority (NPA), Dr Abubakar Dantsoho, has attributed the transformation of the nation’s maritime sector to the impact of the Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, and Federal Government reforms.
This comes as Dantsoho assured investors that Nigeria has the capacity to dominate Africa’s blue economy, citing ongoing Federal]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/reforms-oyetolas-impact-transforming-nigerias-maritime-sector-dantsoho/Wed, 15 Apr 2026 18:55:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/reforms-oyetolas-impact-transforming-nigerias-maritime-sector-dantsoho/ Consumers of electricity would soon bear the full brunt of what they consume as the Federal Government has commenced plans to migrate the power system into full cost reflective tariff (CRF).
This means that the federal government’s subsidy on tariff would be completely removed, thus making the consumers to bear the full weight of the cost of electricity.
Minister of Power, Chief Adebayo Adelabu gave the indication today, in Abuja, when he inaugurated the board of]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/electricity-consumers-to-pay-more-as-fg-plans-to-remove-subsidy-on-tariff/Wed, 15 Apr 2026 18:50:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/electricity-consumers-to-pay-more-as-fg-plans-to-remove-subsidy-on-tariff/ Nigeria’s power generation is set for a rebound with the coming on stream of the Southfield Petroleum Limited (SPL) and the Nigerian Content Development and Monitoring Board (NCDMB) Utorogu Gas Processing Plant. The Minister of State for Petroleum Resources (Gas), Mr Ekperikpe Ekpo, stated this at the groundbreaking ceremony of the 200 MMSCFD Southfield Petroleum Limited Utorogu Gas Processing Plant in Iwherekan, Ughelli, Delta State.
He commended SPL and the NCDMB for]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/utorogu-gas-plant-to-drive-nigerias-power-industrialisation-minister/Wed, 15 Apr 2026 17:53:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/utorogu-gas-plant-to-drive-nigerias-power-industrialisation-minister/ The Ministry of Marine and Blue Economy has convened a high-level stakeholders’ meeting in a strategic step to strengthen Nigeria’s maritime and logistics infrastructure. The meeting was specifically held to review and validate consultancy reports on the proposed Ijebu-Ode Inland Dry Port.
The Minister of Marine and Blue Economy, Adegboyega Oyetola, noted that the maritime sector remains a strategic component of Nigeria’s economy and a major gateway for internati]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ijebu-ode-inland-dry-port-fg-convenes-stakeholders-summit/Wed, 15 Apr 2026 17:35:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ijebu-ode-inland-dry-port-fg-convenes-stakeholders-summit/https://www.newslocker.com/en-ng/news/nigeria-economy-news/inflation-rate-rises-to-1538-in-march-nbs/Wed, 15 Apr 2026 16:23:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/inflation-rate-rises-to-1538-in-march-nbs/ Heirs Insurance Group and United Capital Plc have teamed up to empower ambitious women with practical tools for personal wellbeing and long-term financial growth, reinforcing the need to prioritise self-care while building sustainable wealth. This was done recently at the Yoga and Money Meet Up, an exclusive wellness and financial empowerment event for ambitious women.
The event held in Lagos, offered a curated experience combining guided Yoga and stress management sessions with ex]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/heirs-insurance-group-united-capital-champion-self-care-wealth-creation-for-women/Wed, 15 Apr 2026 12:43:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/heirs-insurance-group-united-capital-champion-self-care-wealth-creation-for-women/ AXA Mansard Insurance Plc has reported a 22 per cent increase in insurance revenues to ₦160.56 billion for the financial year ended December 31, 2025, underlining sustained growth momentum despite a challenging macroeconomic environment marked by inflationary pressures and foreign exchange volatility.
The insurer, a member of the AXA Group, disclosed this in its audited financial results released in Lagos on Monday, showing broad]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/axa-mansard-insurance-revenue-surge-22-to-n160bn/Wed, 15 Apr 2026 12:28:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/axa-mansard-insurance-revenue-surge-22-to-n160bn/https://www.newslocker.com/en-ng/news/nigeria-economy-news/global-shocks-edun-warns-against-subsidy-return-seeks-cheaper-financing/Wed, 15 Apr 2026 08:51:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/global-shocks-edun-warns-against-subsidy-return-seeks-cheaper-financing/https://www.newslocker.com/en-ng/news/nigeria-economy-news/middle-east-crisis-imf-cuts-growth-forecast-for-nigerias-economy-to-41/Wed, 15 Apr 2026 08:47:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/middle-east-crisis-imf-cuts-growth-forecast-for-nigerias-economy-to-41/https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-incurs-n418bn-power-subsidy/Wed, 15 Apr 2026 08:41:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fg-incurs-n418bn-power-subsidy/https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-misses-opec-quota-produces-138m-bpd/Wed, 15 Apr 2026 08:20:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-misses-opec-quota-produces-138m-bpd/https://www.newslocker.com/en-ng/news/nigeria-economy-news/daily-petrol-imports-rise-966-to-59m-litres-nmdpra/Wed, 15 Apr 2026 08:16:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/daily-petrol-imports-rise-966-to-59m-litres-nmdpra/ As debate over state police gains traction, insurance and security experts are warning that the idea is far more complex than it appears, especially in the area of derisking.
While it promises faster response to local security challenges, analysts say it could open the door to political interference, weak oversight and uneven standards across states. Funding gaps and coordination with federal forces also raise serious questions.For many, the issu]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/state-police-experts-x-ray-risks-stakes-realities/Wed, 15 Apr 2026 06:03:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/state-police-experts-x-ray-risks-stakes-realities/ Severe port congestion and delayed cargo clearance are driving up logistics costs in Nigeria and stakeholders are fingering the newly inaugurated National Single Window platform.Though the federal government has appealed for waivers from shipping companies and terminal operators as a way of pacifying importers and agents, they maint]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/port-chaos-trapped-cargo-fuel-calls-for-national-single-window-overhaul/Wed, 15 Apr 2026 06:01:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/port-chaos-trapped-cargo-fuel-calls-for-national-single-window-overhaul/  
The management of Lekki Port, promoters of Lekki Deep Seaport, in collaboration with the Consulate General of the People’s Republic of China in Nigeria, has strengthened its human capital development efforts through an international training programme in China for selected staff to enhance technical capacity, operational efficiency, and global best practices in port management.
A Knowledge Sharing Session was subsequently held at the port, provid]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/lekki-port-partners-china-on-knowledge-exchange-to-deepen-capacity-development/Wed, 15 Apr 2026 05:59:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/lekki-port-partners-china-on-knowledge-exchange-to-deepen-capacity-development/ They stressed the need for sustained engagement among relevant institutions to move proposals beyond concept stage into bankable projects capable of attracting long-term capital.
Central to the discussions is the formalisation of detailed feasibility studies that w]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/stakeholders-push-coastal-protection-funding-seek-stronger-feasibility-work/Wed, 15 Apr 2026 05:56:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/stakeholders-push-coastal-protection-funding-seek-stronger-feasibility-work/ Escalating tensions from the US–Iran conflict have spiked jet fuel prices and tightened already fragile global aviation supply chains. The ripple effect is now being felt in Nigeria’s domestic market, where airlines are buying aviation N2,557 per litre.
To remain afloat, they have adjusted fares upward to cope with rising operating costs. Ticket prices have surged from about N92,000 to as high as N135,000 as carriers struggle to absorb sustained fuel volatility and w]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/us-iran-war-triggers-jet-fuel-crisis-pushes-local-airfares-to-n135000-from-n92000/Wed, 15 Apr 2026 04:29:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/us-iran-war-triggers-jet-fuel-crisis-pushes-local-airfares-to-n135000-from-n92000/ Adedeji disclosed this on Tuesday during the commissioning of the NRS headquarters in Abuja, noting that the removal of fuel subsidy by President Bola Tinubu was a critical fiscal decision that prevented the country from sliding into a major economic]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/subsidy-could-have-gulped-76-of-2026-budget-nrs-boss/Wed, 15 Apr 2026 04:27:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/subsidy-could-have-gulped-76-of-2026-budget-nrs-boss/ The Nigeria Civil Aviation Authority (NCAA) has issued an Aerodrome Certification for the Akanu Ibiam International Airport in Enugu to the Federal Airports Authority of Nigeria (FAAN).
The certificate was formally handed over on Monday, April 14, 2026, at the NCAA headquarters in Abuja after the airport’s full compliance with both national and international aviation safety and operational standards.
NCAA’s Director of Aerodrome and Airspace Standards, Ahmad Abba who]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/ncaa-certifies-enugu-intl-airport/Wed, 15 Apr 2026 04:27:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/ncaa-certifies-enugu-intl-airport/ One year after Bayo Ojulari assumed office as Group Chief Executive Officer of NNPC Limited, the moment calls for a clear-eyed assessment of his leadership, what has changed, what has worked and what lies ahead.
Ojulari did not arrive at a moment of calm. His appointment on April 2, 2025,]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/inside-ojularis-one-year-drive-to-reengineer-nnpc/Wed, 15 Apr 2026 04:26:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/inside-ojularis-one-year-drive-to-reengineer-nnpc/ From Uche Usim, Washington
Fresh assessments from the International Monetary Fund (IMF) have revealed that Nigeria’s economy is entering a more fragile phase, as global shocks, particularly from energy markets and supply chains, begin to erode earlier gains.
To this end, the IMF has revised Nigeria’s growth forecast downward by 0.3 percentage points to 4.1 per cent for 2026, reflecting what it describes as a “balance of press]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/imf-downgrades-nigerias-growth-to-41-cites-inflation-spiking-fertiliser-prices-global-risks/Wed, 15 Apr 2026 04:23:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/imf-downgrades-nigerias-growth-to-41-cites-inflation-spiking-fertiliser-prices-global-risks/ Speaking yesterday the G-24 Meeting in Washington, D.C., Edun said the current financing environment is placing disproporti]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/global-financing-system-must-ease-debt-squeeze-on-developing-economies-edun/Wed, 15 Apr 2026 04:19:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/global-financing-system-must-ease-debt-squeeze-on-developing-economies-edun/ Tagged The Gathering on 100, the event will hold at the National Stadium, drawing Gen Z and Millennial participants, who account for over 60 per cent of the population, into a hybrid space blending entertainment, enterprise, and networking.
Eco]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-100-hour-gathering-reshapes-youth-spending-trends/Wed, 15 Apr 2026 04:18:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/lagos-100-hour-gathering-reshapes-youth-spending-trends/ Nigeria’s fragile economic structure has again come under pressure as the escalating US-Israel-Iran conflict triggered global oil disruptions, exposing the country’s deep dependence on imports despite its vast natural and industrial potential.With oil prices surging beyond $100 per barrel and pump prices jumping by about 35 per cent, Nigerians are facing renewed inflationary strain in an economy already battling rising costs.
Ironically, t]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/global-crisis-exposes-nigerias-import-gaps-spotlights-local-tech-manufacturing/Wed, 15 Apr 2026 04:17:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/global-crisis-exposes-nigerias-import-gaps-spotlights-local-tech-manufacturing/ The global provider of business data and analytics said the Leader designation on G2 is awarded to roughly three percent of globally listed software providers and is determined by independent customer reviews reflecting real-world usage and outcomes.
“The recognition does not rely on vendor submissions. In the Winter 2026 assessment,]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/dun-amp-bradstreet-earns-top-spot-in-g2-intelligence-rankings/Wed, 15 Apr 2026 04:17:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/dun-amp-bradstreet-earns-top-spot-in-g2-intelligence-rankings/https://www.newslocker.com/en-ng/news/nigeria-economy-news/nitda-dg-to-africa-control-your-cloud-or-lose-digital-economic-sovereignty/Wed, 15 Apr 2026 04:13:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nitda-dg-to-africa-control-your-cloud-or-lose-digital-economic-sovereignty/  
The Chief Executive Officer of Routelink Group, Femi Adeoti, has stated that Nigeria’s prevailing economic realities, driven by rising inflation and increasing cost of living, are fundamentally reshaping how citizens manage money, with fintech platforms now playing a critical role beyond convenience into financial survival.
Adeoti made this known while reacting to shifting consumer financial behaviour in the country, noting that households are increasingly moving]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/fintech-now-critical-as-inflation-reshapes-nigerians-finances-routelink-ceo/Wed, 15 Apr 2026 04:09:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/fintech-now-critical-as-inflation-reshapes-nigerians-finances-routelink-ceo/ Digital Realty has expanded Nigeria’s internet infrastructure footprint with the launch of a new Internet Exchange Point of Presence (PoP) for the Internet Exchange Point of Nigeria (IXPN) at its recently commissioned data centre in Ibeju-Lekki, Lagos.
The development is expected to boost local internet traffic exchange, reduce latency and strengthen Nigeria’s position as a digital connectivity hub in West Africa.
The new PoP builds on IXPN’s existing]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/digital-realty-ixpn-deepen-internet-infrastructure/Wed, 15 Apr 2026 04:09:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/digital-realty-ixpn-deepen-internet-infrastructure/https://www.newslocker.com/en-ng/news/nigeria-economy-news/customs-pledges-transparency-innovative-technologies/Wed, 15 Apr 2026 02:10:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/customs-pledges-transparency-innovative-technologies/ The Minister of Steel Development, Prince Shuaibu Abubakar Audu, has signed a $1 billion investment Memorandum of Understanding (MoU) with India’s Rashmi Metaliks Group in a major push to revive the nation’s steel industry.
The deal, sealed on Tuesday in Kolkata, India, is expected to be executed over three years and marks a significant milestone in the Federal Government’s drive to reposition the sector]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-seals-1bn-steel-deal-with-indian-firm-in-kolkata/Tue, 14 Apr 2026 21:56:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-seals-1bn-steel-deal-with-indian-firm-in-kolkata/ From Adanna Nnamani, Abuja
The Executive Chairman of the National Revenue Service (NRS), Zacch Adedeji, has said Nigeria would have spent as much as 76 per cent of its projected N68 trillion budget on fuel subsidy if the policy had not been scrapped.
Adedeji disclosed this on Tuesday during the commissioning of the NRS headquarters in Abuja, noting that the removal of fuel subsidy by President Bola Tinubu was a critical]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/subsidy-could-have-consumed-76-of-n68tn-2026-budget-nrs-boss/Tue, 14 Apr 2026 18:40:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/subsidy-could-have-consumed-76-of-n68tn-2026-budget-nrs-boss/ The Nigerian Shippers’ Council (NSC) on Tuesday said the approved 30 per cent tariff increase for shipping companies would not destabilise the economy, as it represents a ceiling rather than a fixed rate.
The Council, which met with shipping companies, freight forwarders, importers and exporters, insisted on comprehensive stakeholder engagement before the implementation of the proposed tariff hike.
Speaking at a one-day stakeholders’ forum on the planned increment, th]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/approved-30-tariff-increase-for-shipping-companiesll-not-destabilise-economyshippers-council/Tue, 14 Apr 2026 18:20:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/approved-30-tariff-increase-for-shipping-companiesll-not-destabilise-economyshippers-council/ The Federal Government has reaffirmed its commitment to sustainable and climate-responsive initiatives as core pillars for the development of Nigeria’s marine and blue economy.
The Permanent Secretary, Federal Ministry of Marine and Blue Economy (FMMBE), Mrs Fatima Sugra Tabi’a Mahmood, stated this while receiving a delegation from Invest International, a state-owned development finance institution under the Dutch Ministry of Finance, led by Ms Fenna Zoe Howkamp.]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-committed-to-improved-marine-ecosystem-to-boost-economy/Tue, 14 Apr 2026 17:59:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/nigeria-committed-to-improved-marine-ecosystem-to-boost-economy/ The Nigeria Civil Aviation Authority (NCAA) on Tuesday presented the Aerodrome Certificate for the Akanu Ibiam International Airport, Enugu, to the Federal Airports Authority of Nigeria (FAAN), marking a key milestone in Nigeria’s aviation sector.
The presentation, which took place at the NCAA’s corporate headquarters in Abuja, signalled that the airport has met the required safety and operational standards.
Speaking at the event, the Director-General of Civil Av]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/akanu-ibiam-airport-certified-faan-presented-aerodrome-licence/Tue, 14 Apr 2026 17:29:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/akanu-ibiam-airport-certified-faan-presented-aerodrome-licence/ The Nigerian insurance industry recorded a robust performance in the fourth quarter of 2025, with Gross Premium Written rising to N2.3 trillion, according to the latest Insurance Market Performance Bulletin released by the Research and Statistics Department of the National Insurance Commission.
The Q4, 2025 bulletin attributed the strong growth to ongoing regulatory reforms aimed at deepening market penetration, as well as increased contributions]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/2025-q4-nigerias-insurance-sector-hits-n23tn-premiums-naicom/Tue, 14 Apr 2026 16:46:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/2025-q4-nigerias-insurance-sector-hits-n23tn-premiums-naicom/https://www.newslocker.com/en-ng/news/nigeria-economy-news/agric-minister-headlines-vanguard-economic-discourse/Tue, 14 Apr 2026 08:35:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/agric-minister-headlines-vanguard-economic-discourse/https://www.newslocker.com/en-ng/news/nigeria-economy-news/insurance-industry-records-473-growth-in-premium-to-n23trn/Tue, 14 Apr 2026 08:27:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/insurance-industry-records-473-growth-in-premium-to-n23trn/ Nigeria’s banking sector is grappling with a worrisome paradox. While fraud cases are declining in number, the financial losses from each incident are rising sharply, revealing a worrying shift in the country’s digital risk landscape.
Recent industry data by the Nigerian Interbank Settlement System (NIBSS), show
that fraud cases fell by 4 per cent to 67,518 in 2025 from 70,111 in 2024. On the surface, this suggests that anti-fraud measures by banks and regulators]]>https://www.newslocker.com/en-ng/news/nigeria-economy-news/banks-raise-alarm-as-online-fraud-shrinks-in-numbers-grows-in-value/Tue, 14 Apr 2026 04:23:00 +0200https://www.newslocker.com/en-ng/news/nigeria-economy-news/banks-raise-alarm-as-online-fraud-shrinks-in-numbers-grows-in-value/