TETFund skills intervention transforms Osun College, boosts learning infrastructure

By   Fred Ezeh, Abuja
 
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

By Peter Egwuatu The Nigerian stock market reversed its upward trajectory last week with investors losing over N4.915 trillion of their investment listed on the Nigerian Exchange Limited, NGX. The development was driven by a sustained profit-taking move across major sectors.Consequently, the NGX market capitalisation, which represents the total value of stocks listed on the Exchange, declined to N155.593 trillion on Friday from N160.508 trillion the previous week.Analysts noted t

By Chukwuma Umeorah
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

By Chukwuma Umeorah
 
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

…As NGX Invest drives N2.8trn capital raise, 2m retail investors onboarded
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

By Chinwendu ObienyiThe Central Bank of Nigeria (CBN) has directed banks to continue monitoring and documenting the purpose of foreign currency transfers from domiciliary accounts, warning that failure to comply could attract fines of up to N100 million.
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

Nigeria’s oil and gas industry stakeholders will gather in November for the 15th edition of the Practical Nigerian Content (PNC) Forum, a landmark event expected to chart the next phase of local content development and industrial growth in the country’s energy sector.
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

Founder’s Weight 2.0 at the weekend in Lagos brought together more than 50 founders, entrepreneurs, operators, and business leaders for an afternoon of candid conversations, practical business insights, and high-impact networking.
​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

By Uche Usim
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

From Isaac Anumihe, AbujaAs terrorism worsens in the country intensifies, the federal government has reintroduced security patrols in all the major highways.The patrol team would involve all the departments of police, including other armed paramilitary officers.
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

By Steve Agbota and Idu Jude, Abuja
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

By Chinelo ObogoDespite economic challenges plaguing households and businesses, Nigeria’s domestic air passenger traffic climbed to 13.09 million in 2025, a development that highlighted the growing reliance on air travel for business and leisure across the country.Data released by the Federal Airports Authority of Nigeria (FAAN) in its 2025 passenger traffic analysis report showed that more Nigerians travelled by air within the country last year, showing increased demand on major domestic

From Godwin Tsa, AbujaThe Nigeria Customs Service (NCS) has reaffirmed its commitment to strengthening international partnerships, hosting a high-level diplomatic cocktail reception that brought together ambassadors, high commissioners, heads of missions, and senior government officials in Abuja.
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

Nigeria will unveil its first comprehensive Gas and Power Infrastructure Map at the 25th edition of NOG Energy Week, a move expected to provide investors and industry stakeholders with a detailed overview of the country’s energy assets and opportunities.The publication, developed by the Gas for Africa programme in partnership with NNPC Limited, will be launched during the annual energy conference in Abuja and is being positioned as a major step towards improving transparency and investment

By Fred Ezeh, Abuja
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

Former Corps Marshal of the Federal Road Safety Corps (FRSC), Dr. Boboye Oyeyemi, has urged the Federal Government to adopt a long-term and consistent automotive industry policy that prioritises local value creation and domestic manufacturing, rather than relying heavily on revenue generated from vehicle import duties.
 
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

By Moses Akaigwe
 
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

By Adewale Sanyaolu
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

By Adewale Sanyaolu
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

By Moses Akaigwe
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

By Moses Akaigwe
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

By Moses Akaigwe
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

By Moses Akaigwe
 
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

By Adewale Sanyaolu
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

By Adewale Sanyaolu
 
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

…Unveils solution
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

Daystar Power and Sterling Bank have expanded their partnership with the introduction of a new financing model aimed at helping Nigerian businesses switch to cleaner and more affordable energy solutions without the burden of heavy upfront costs.
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

From Aniekan Aniekan, CalabarThe Bank of Industry, BOI in partnership with the Cross River state government, has unveiled a N2 billion matching fund for Micro, Small and Medium Enterprises (MSMEs).
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

By Steve Agbota
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 (

The Federal Competition and Consumer Protection Commission (FCCPC) has rejected reports claiming it backed a major shake-up of Nigeria’s airtime credit market or secured presidential approval for new operators to enter the space.
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