The Federal Airports Authority of Nigeria (FAAN) has clarified that President Bola Ahmed Tinubu did not order the suspension of the agency’s cashless toll payment system at the nation’s airports, but rather directed that the process be improved before full implementation. Managing Director of FAAN, Olubunmi Kuku, […]
Category: Corporate Stories
Corporate Stories
FG Plans To Recapitalise BOI To N3trn By 2026 ………To Boost Industrial Growth With N800bn Funding, PPP Expansion, Credit Guarantees
The Federal Government has unveiled plans to recapitalise the Bank of Industry (BOI) to N3trn by 2026 as part of a broader strategy to stimulate industrial growth, deepen access to long-term financing, and strengthen Nigeria’s productive base. The recapitalisation forms a key pillar of the National Industrial […]
African Union Grants Nigeria Permanent Seat On African Central Bank Board
Nigeria has secured a permanent seat on the Board of the African Central Bank (ACB) following a decision by the Executive Council of the African Union (AU) at its 39th session, marking a significant milestone in the country’s continental diplomatic and economic engagements. The Minister of Foreign Affairs, […]
Dangote, Three Others Richer Than Half of Africa-Oxfam ….Warns Weak Taxation Fuels Africa’s Wealth Gap ……Raises Alarm Over Nigeria’s Tax System as Billionaire Wealth Climbs
Africa’s wealth inequality has widened sharply, with Aliko Dangote and three other African billionaires now holding more wealth than half of the continent’s population combined, according to a new report by global anti-poverty organisation Oxfam. The report, released as political leaders and top business executives convene for […]
Shettima, Economic Stakeholders Urge Africa to Leverage Islamic Finance for Inclusive, Sustainable Development
Vice President Kashim Shettima and other economic Stakeholders have called on African nations to deepen the adoption of Islamic finance as a tool for inclusive and sustainable economic transformation across the continent. Represented by Dr. Tope Fasua, Special Adviser to the President on Economic Matters, Shettima made the […]
Nigeria’s Inflation Falls to 18.02% in September, Driven by Lower Food Prices … Dips Below 20% First Time in 3 Years …Experts Nigeria’s Disinflation Trend, Calls for Policies to Tackle Persistent Cost Pressures
Nigeria’s headline inflation rate eased to 18.02 per cent in September 2025, marking a significant moderation from 20.12 per cent recorded in August, according to the latest data from the National Bureau of Statistics (NBS). The drop represents a 2.1 per cent month-on-month decline and the first […]
AfDB to Lend Nigeria $500m in Fresh Budget Support … Cites Tinubu’s Economic Reforms as Key Driver
The African Development Bank (AfDB) has announced plans to extend a $500m loan to Nigeria this year as part of a $1bn budget support programme, citing the country’s ongoing economic reforms under President Bola Tinubu as a major factor driving its decision. Executive Director representing Nigeria and São […]
ISSB-Aligned Disclosures Will Lower Capital Costs, Attract Global Investors — SEC
The Securities and Exchange Commission (SEC) has unveiled plans to drive the adoption of International Sustainability Standards Board (ISSB) disclosure frameworks in Nigeria, asserting that alignment with the global standards will strengthen market transparency, reduce information risk, and attract international capital flows into the country’s capital markets. Speaking […]
Afreximbank Delivers HY’2025 Results With Net interest income at $835.9m
African Export-Import Bank Group (Afreximbank/Group) has released its consolidated financial statements for the six months ended 30 June 2025 (H1’2025). Amid heightened geopolitical tensions, persistent inflationary pressures, currency volatility, and tighter global financing conditions, the Afreximbank Group delivered, once again, satisfactory results for the first half of the […]
DMO Warns States Against Over-Borrowing, Advocates PPPs ……Says Nigeria Risks Debt Crisis Without PPPs, Improved Revenues
The Director-General of Nigeria’s Debt Management Office (DMO), Ms. Patience Oniha, has cautioned state governments against excessive borrowing, urging them instead to adopt Public-Private Partnerships (PPPs) and prioritise tax revenue mobilisation to fund infrastructure projects. She warned that without such measures, Nigeria risks sliding into another debt crisis. […]