Nigeria’s solid minerals sector has received a major boost following the discovery of what the Federal Government describes as a world-class polymetallic mineral province in Kaduna State, a development expected to strengthen the country’s position as a leading destination for strategic mineral investments. Minister of Solid Minerals Development, Dr. Dele Alake, disclosed this at the…
…as Private sector credit growth slows Credit extended to the Federal Government by the banking sector surged by 75.6 per cent year-on-year to N40.38 trillion in May 2026, underscoring the government’s growing reliance on domestic borrowing despite prevailing tight monetary conditions. Latest monetary and credit statistics released by the Central Bank of Nigeria (CBN) showed…
By Seun Ibiyemi The Association of Bureau De Change Operators of Nigeria (ABCON) has thrown its weight behind recent sanctions imposed by the United States against individuals accused of financing terrorism, while stressing that the action should not be interpreted as a reflection of the entire Bureau De Change (BDC) industry. ABCON President, Aminu Gwadabe,…
By Seun Ibiyemi Former Osun State Governor, Prince Olagunsoye Oyinlola, has formally withdrawn his support for Governor Ademola Adeleke and declared backing for the Allied Peoples Movement (APM) governorship candidate, Hon. Adewale Adebayo, ahead of the August 15, 2026 governorship election. Oyinlola made the declaration during a meeting with APM National and State Assemblies candidates…
By Seun Ibiyemi The Senate on Wednesday took a decisive step toward restructuring Nigeria’s security framework by passing the Constitution Alteration Bill seeking the establishment of state police across the federation. The landmark legislation, considered one of the most significant constitutional reforms in recent years, secured the support of more than two-thirds of senators following…
…Unveils 3.7GW local manufacturing plan By Seun Ibiyemi The Managing Director and Chief Executive Officer of the Rural Electrification Agency (REA), Abba Aliyu, has identified distributed renewable energy as Nigeria’s quickest route to achieving sustainable economic growth and industrial competitiveness. Aliyu made the declaration while delivering a keynote address titled “Scaling Mini-Grids and Solar Infrastructure…
…Commissions 505kWp interconnected solar mini-grid in Epe By Seun Ibiyemi The Minister of Power, Joseph Tegbe has declared that the projects being embarked on by the Rural Electrification Agency (REA) is measurably changing the lives of Nigerians across the country. Delivering the keynote address at the official commissioning of a landmark 505kWp interconnected solar mini-grid…
By Seun Ibiyemi The Managing Director of Port and Terminal Multiservices Limited (PTML), Mr Ascanio Russo, has unveiled a proposed fresh investment of $50 million in the terminal as part of efforts to strengthen port infrastructure, boost operational efficiency and support Nigeria’s ambition of becoming the leading maritime hub in West and Central Africa. Russo…
By Seun Ibiyemi The Nigerian Ports Authority (NPA), the Maritime Police Command, the Lagos State Government and other key maritime stakeholders have established a joint task force aimed at addressing persistent traffic congestion, extortion and security challenges along the Apapa and Tin Can Island port corridors. The decision was reached at a stakeholders’ meeting held…
By Seun Ibiyemi Investors on the Nigerian Exchange (NGX) recorded a gain of N1.639 trillion on Tuesday as bullish sentiment persisted across major sectors of the market, including banking, insurance, telecommunications, consumer goods, real estate and industrial stocks. The positive performance lifted the market capitalisation by 1.06 per cent to N154.484 trillion from N152.845 trillion…
