By BUKOLA ARO-LAMBO NIGERIA’S external reserves have surged to $41 billion, marking the highest level in four years and signalling a promising boost for the country’s economic stability and currency strength. According to the latest data released by the Central Bank of Nigeria (CBN), Nigeria’s foreign exchange reserves stood at $41.046 billion as of 20 […]
TRAXPORT Rail Services Ltd has signed a Technical Support and Investment Agreement (TSIA) with Belgian rail operations and management company, Vecturis, marking a major milestone in Nigeria’s rail transport transformation. The agreement underscores Vecturis’ commitment to building a modern, efficient, and sustainable freight rail system in West Africa, with Nigeria at the forefront. Through the […]
By ANDREW OOTA, Abuja Delivers 5,075.4km as ₦3 trillion are abandoned FG explores alternative funding arrangement for stalled projects Stakeholders allege subnational construction amidst inter-govt conflict SEVEN years into Nigeria’s Road Tax Credit Scheme, the programme may be grappling with survival crises, with many projects valued at ₦3 trillion, according to the latest data from […]
By JOAN NWAGWU THE Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has cautioned that ongoing policy instability is discouraging investment in Nigeria’s oil and gas sector. Mr. Festus Osifo, President of PENGASSAN, raised the concern on Wednesday at the opening of the 4th Petroleum and Energy Advancement and Leadership Summit (PEALS 2025), […]
By VICTOR NWACHUKWU THE Nigerian Export Promotion Council (NEPC) has described loan and grant facilities provided by the Federal Government as viable tools to boost export trade. Coordinator of the NEPC in Imo, Mr. Anthony Ajuruchi, said this at an engagement forum of non-oil exporters with trade-related agencies, organised by the council, in Owerri, on […]
AHEAD of the 31 March 2026 deadline for banks to shore up their capital base as stipulated by the Central Bank of Nigeria, banks have raised a total of ₦2.5 trillion, mostly from local investors. This is as the total assets in the industry are projected to reach ₦242.3 trillion by the end of this […]
THE Minister of the Federal Capital Territory, Nyesom Wike, has denied claims by local contractors that his administration owes them ₦5.2 billion, insisting that the debts arose from contracts irregularly awarded by civil servants without ministerial approval. On Monday, contractors staged a protest at the minister’s gate, alleging that the FCT Administration owed them about […]
THE United States has stated that Nigeria’s recently approved ₦70,000 minimum wage for federal workers has been eroded by the persistent fall of the naira. In its Country Reports on Human Rights Practices for 2024, published on 12 August by the US Department of State’s Bureau of Democracy, Human Rights, and Labour, the US highlighted […]
By DIANA OMUEZA THE Federal Government says it is modernising the Western Ports in Apapa and upgrading the Eastern Ports in Onne, Calabar, and Rivers to promote balanced regional growth. Mr. Adegboyega Oyetola, Minister of Marine and Blue Economy, said this in a statement signed on Tuesday in Abuja by his Media Adviser, Dr. Bolaji […]
By IFEANYI OLANNYE DELTA Government says it would channel efforts and resources to boost investment in power and energy, agriculture, solid minerals, trade and investment to create employment and empower its people. The State Economic Team, led by the Secretary to the State Government (SSG), Dr Kingsley Emu disclosed this at a press conference in […]