Category: Business
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HOUSE COMMITTEE PUSHES FOR SINGLE-DIGIT INTEREST TO BOOST NEW VEHICLE PURCHASES
The House of Representatives Committee on Industry is working on laws to enforce single-digit interest rates on loans, making it easier for Nigerians to buy new cars, tricycles, and motorcycles through affordable credit. This decision came after an oversight visit to assembly plants in Lagos with the National Automotive Design and Development Council (NADDC). Chairman…
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MINISTER SEEKS CHINA PARTNERSHIP TO REVITALIZE NIGERIA’S STEEL INDUSTRY
Prince Shuiabu Abubakar, Minister of Steel Development, announced efforts to partner with the Republic of China to revive Ajaokuta Steel Company Limited (ASCL) and the National Iron Ore Mining Company (NIOMCO) in Kogi State. The ministry was initially working with a Russian firm, but the Russia-Ukraine war stalled progress. The minister said President Bola Tinubu’s…
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EQUITIES MARKET TAKES A BREATHER AFTER 12-WEEK WINNING STREAK
After 12 straight sessions of gains, Nigeria’s stock market recorded its first loss on Tuesday, with market capitalization slipping by ₦4 billion to close at ₦93.756 trillion. The All-Share Index dipped slightly by 6.27 points, driven by selloffs in stocks like Austin Laz, Deap Capital, Fidson, and Berger Paints. Market breadth showed 36 losers versus…
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FEDERAL GOVERNMENT SETS ₦4 TRILLION BOND TO CLEAR POWER SECTOR DEBTS
The Federal Government is rolling out a ₦4 trillion bond to settle verified arrears owed to power Generation Companies (GenCos) and gas suppliers, a move aimed at boosting Nigeria’s power sector. Mrs. Olu Verheijen, Special Adviser to the President on Energy, revealed this after a key meeting involving the Ministers of Finance and Power, and…
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MALI TO CHARGE VISA BONDS UP TO $10,000 FOR U.S. NATIONALS IN RESPONSE TO U.S. POLICY
Mali has announced it will require U.S. nationals to pay visa bonds of up to $10,000 for business and tourist visas, mirroring a recent move by the U.S. government. This decision follows the Trump administration’s visa bond pilot program, which included Mali to tackle visa overstays, and is set to take effect on October 23.…
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SHELL TAKES BIG STEP WITH FINAL INVESTMENT IN NIGERIA OFFSHORE GAS PROJECT
Shell Nigeria Exploration and Production Company Limited (SNEPCo), together with Sunlink Energies, has greenlit the HI gas project offshore Nigeria, aiming to supply 350 million standard cubic feet of gas daily to Nigeria LNG before the decade ends. This move reinforces Shell’s commitment to Nigeria’s energy future, bolstering its Integrated Gas portfolio and supporting Nigeria’s…
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FG ORDERS TOUGHER MONITORING OF LPG DEPOTS TO STOP HOARDING AMID PRICE SURGE
The Federal Government has directed the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to step up monitoring of Liquefied Petroleum Gas (LPG) depots to prevent hoarding following recent sharp price increases. Minister of State for Petroleum Resources (Gas), Dr. Ekperikpe Ekpo, revealed that LPG prices have jumped from around N1,000–N1,100 per kg to as…
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WORLD BANK LAUNCHES AGRICONNECT TO BOOST GLOBAL FOOD PRODUCTION AND JOBS
The World Bank has kicked off its AgriConnect initiative aimed at transforming smallholder farming, boosting employment, and strengthening food security worldwide. Announced during the IMF/World Bank Annual Meetings in Washington, the program targets the 500 million smallholder farmers who produce most of the world’s food but often lack access to markets, finance, and modern technology.…
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MINISTER UZOKA-ANITE URGES WEST AFRICAN INSURERS TO UNITE AGAINST CLIMATE RISKS
Minister of State for Finance, Dr. Doris Uzoka-Anite, called for stronger regional collaboration among West African insurers to boost resilience against escalating economic threats from climate change. Speaking at the 2025 WAICA Education Conference in Lagos, she stressed that climate change is no longer just an environmental issue but a financial and developmental challenge affecting…
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LPG USERS, RETAILERS URGE FG TO ENSURE STEADY SUPPLY AND PRICE STABILITY
Consumers and retailers of Liquefied Petroleum Gas (LPG), or cooking gas, are calling on the Federal Government to secure consistent availability and stable prices following recent hikes linked to the Dangote Refinery strike. Speaking to NAN in Abuja, users acknowledged that queues and shortages are easing but stressed government action is needed to fully restore…
