… As CPPE blames Middle East tensions for rise in May inflation By Seun Ibiyemi The National Bureau of Statistics (NBS) says Nigeria’s headline inflation rate rose to 15.93 per cent in May. The NBS disclosed this in its Consumer Price Index (CPI) and Inflation Report for May released in Abuja on Monday. The report…
By Seun Ibiyemi The Manufacturers Association of Nigeria (MAN) has called on the Federal Government and the National Environmental Standards and Regulations Enforcement Agency (NESREA) to suspend the proposed ban on single-use plastics below 80 microns, warning that the policy could trigger widespread economic disruptions, job losses, and increased production costs across the country. This…
…Warns against prolonged high interest rates By Seun Ibiyemi The Centre for the Promotion of Private Enterprise (CPPE) has welcomed the positive assessment of Nigeria’s economic reforms contained in the latest International Monetary Fund (IMF) Article IV Consultation Report, describing the Fund’s findings as consistent with the position long held by stakeholders within the Nigerian…
By Seun Ibiyemi The Senate Committee on the South East Development Commission (SEDC) on Tuesday questioned the commission’s management over the utilisation of its ₦16.6 billion budgetary allocation, demanding comprehensive documentation to justify several expenditure items flagged during an oversight session in Abuja. The hearing, chaired by Senator Orji Kalu, representing Abia North Senatorial District,…
Seplat Energy Plc has announced the appointment of renowned investor and business leader, Tony Elumelu, as Chairman of its Board of Directors, effective January 2027, as part of a significant leadership transition designed to position the company for its next phase of growth and expansion. The company also announced the appointment of Engr. Effiong Okon…
Lagos State Governor, Babajide Sanwo-Olu, has declared that the successful conclusion of the Invest Lagos Summit 3.0 has provided concrete evidence that Lagos remains Africa’s foremost business gateway, attracting global investors, development partners and strategic institutions. Speaking at the closing ceremony of the two-day summit held at Eko Hotel and Suites, Victoria Island, Lagos, on…
The Federal Government has announced access to a $1 billion African Continental Free Trade Area (AfCFTA) Adjustment Fund Credit Facility aimed at supporting Nigerian businesses, boosting production, enhancing competitiveness, and expanding intra-African trade. The Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, disclosed this on Tuesday during the second quarter 2026 meeting of the…
…To deliver keynote at Africa summit in London By Seun Ibiyemi The President and Chairman of the Board of Directors of the ECOWAS Bank for Investment and Development (EBID), Dr. George Agyekum Donkor, has been named recipient of the Distinguished African Development Finance Leadership Award for Regional Integration and Economic Transformation at the 2026 African…
Heirs Insurance Group has announced that it has provided insurance protection to more than three million customers within its first five years of operation, underscoring its rapid growth and expanding influence in Nigeria’s insurance industry. The company disclosed this on Monday during a media briefing in Lagos to mark its fifth anniversary, highlighting significant milestones…
By Seun Ibiyemi Nigeria recorded a merchandise trade surplus of N7.55 trillion in the first quarter of 2026, driven by stronger crude oil exports and a significant decline in imports, according to the latest Foreign Trade in Goods Statistics Report released by the National Bureau of Statistics (NBS). The report showed that the country’s total…
