Category: Business
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LAGOS RESIDENTS STRUGGLE AS MEAT PRICES CONTINUE TO RISE
Meat prices in Lagos are rising sharply, and many residents say the increase is putting pressure on family budgets. A NAN market survey found that beef, goat meat and frozen chicken now cost significantly more than they did last year. Some residents say they have reduced meat consumption and are switching to fish and eggs…
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AFRICAN EXPORTERS SEE GROWTH POTENTIAL IN CHINA’S ZERO-TARIFF POLICY
African experts say China’s zero-tariff policy presents a major opportunity for African countries to expand exports and strengthen trade ties. The policy, which covers 53 African countries, took effect on May 1 and was discussed during a webinar hosted by the Sino-SA Media Club. Experts noted that Africa can benefit significantly if countries improve production…
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NIGERIA TO DRIVE ECONOMIC GROWTH THROUGH INNOVATION — FG
The Federal Government says Nigeria will continue to use innovation as a key driver of economic growth and national development. The Minister of Foreign Affairs, Amb. Bianca Odumegwu-Ojukwu, represented by the Permanent Secretary, Amb. Dunoma Ahmed, stated this at the 18th BRICS Foreign Ministers Meeting in India. She noted that Nigeria’s tech ecosystem—covering fintech, digital…
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SEC: T+1 SETTLEMENT TO CUT FAILED TRADES, BOOST NIGERIAN MARKET STABILITY
The Securities and Exchange Commission (SEC) says Nigeria’s planned shift to the T+1 settlement cycle will help reduce failed trades and strengthen stability in the capital market. According to SEC Director-General, Dr Emomotimi Agama, the new system will shorten the time between trade execution and settlement, allowing investors to receive their funds faster and improving…
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CSOs CALL FOR NUPRC REFORMS, GREATER BENEFITS FOR OIL HOST COMMUNITIES
Civil society organisations in Akwa Ibom have called for the unbundling of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to improve efficiency and strengthen benefits for oil-producing host communities. The groups made the call in a communique issued after a two-day advocacy workshop for traditional rulers on impact assessments in oil-producing regions. The organisations also…
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NAVY CHIEF REAFFIRMS FOCUS ON MANPOWER DEVELOPMENT FOR SAFE NAVIGATION AND BLUE ECONOMY GROWTH
The Chief of Naval Staff has reaffirmed the importance of manpower development in ensuring safe navigation and supporting Nigeria’s blue economy. He made this known during a courtesy visit by the Hydrographer of the Federation to the Naval Headquarters in Abuja. Discussions focused on strengthening collaboration, capacity building, and improving hydrographic operations. The Naval Chief…
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TINUBU PUSHES FOR STRONGER AFRICAN ECONOMIC INTEGRATION AT NAIROBI SUMMIT
President Bola Tinubu has called for stronger African economic integration and fairer global financial systems during the Africa Forward Summit in Nairobi, Kenya. The summit, co-hosted by French President Emmanuel Macron and Kenyan President William Ruto, brought together leaders from more than 30 countries to discuss Africa’s economic transformation and development priorities. Speaking at the…
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FG BEGINS SOUTH-WEST TOUR AHEAD OF COOPERATIVE BANK LAUNCH
The Federal Government has launched a South-West sensitisation and advocacy tour ahead of the proposed Cooperative Bank of Nigeria rollout. The initiative, led by the Federal Ministry of Agriculture and Food Security, began in Lagos and focuses on cooperative sector reforms, share capital mobilisation and digitalisation. Officials say the planned Cooperative Bank is expected to…
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CHINESE-NIGERIAN PARTNERSHIP TARGETS ELECTRIC VEHICLE PRODUCTION IN NIGERIA
A new partnership between China’s Launch Design Shanghai and Hybrid Motors Nigeria is set to boost electric vehicle manufacturing and assembly in Nigeria. The companies say production facilities will be established in Lagos and Abuja to support the rollout of “Acely,” an indigenous electric vehicle brand designed for Nigerian roads and consumers. According to the…
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NIGERIA’S PORTS RECORD STRONGER CARGO, VESSEL TRAFFIC IN Q1 2026
Nigeria’s maritime sector recorded notable growth in the first quarter of 2026, with the Nigerian Ports Authority (NPA) reporting increases in cargo movement, vessel traffic and port activities. According to the NPA, ocean-going vessel traffic rose by 19.5% to 46.75 million Gross Registered Tonnage, while total cargo throughput increased by 11.6% to 32.38 million metric…
