Weak Intermodal Transport Stalls Nigeria's Trade Efficiency
Nigeria's ports face severe congestion and high costs due to over 90% reliance on trucks for cargo, as weak rail and waterway links undermine trade competitiveness, experts report.
Category : Business
SEREC Warns of FX Risks in £746M UK Port Deal
The Sea Empowerment and Research Center urges Nigeria to implement FX risk mitigation strategies for the £746 million port financing agreement with the UK, highlighting concerns over capital outflows and currency mismatch.
IMO Calls for Safe Evacuation of Ships and Seafarers in Persian Gulf
The International Maritime Organisation has directed member states to establish a safe framework for evacuating merchant vessels and seafarers from the Persian Gulf, condemning threats and attacks that have stranded crews, including Nigerians.
Navy Hands Over Suspected Stowaways to Immigration
The Nigerian Navy has transferred two suspected stowaways rescued from a merchant vessel to the Nigeria Immigration Service for further investigation and legal action.
CPPE Rejects New Sugar Beverage Tax, Warns of Business Harm
The Centre for the Promotion of Private Enterprise opposes a proposed tax on sugar-sweetened beverages, citing economic fragility and high costs for manufacturers.
Third Saskatoon Black Business Expo Highlights Growth
The third Saskatoon Black Business Expo, themed 'Bigger, Bolder, and Impactful,' brings together over 100 Black-owned businesses at Prairieland Park on March 28, 2026, featuring masterclasses and networking opportunities to boost economic connections.
Nigeria's Fibre Project Consultants Get $6.1 Million
Seven consulting firms and five individual consultants for Nigeria's national fibre project will receive $6.1 million in fees under the BRIDGE programme, a $2 billion initiative to expand broadband infrastructure nationwide.
LCCI Warns of Real Sector Collapse Over Fuel Costs
The Lagos Chamber of Commerce and Industry expresses alarm over soaring diesel and petrol prices, urging government intervention to stabilise the market and prevent economic collapse.
Zenith Bank Appoints Kennedy Okwudili as Executive Director
Zenith Bank Plc has appointed Mr Kennedy Onuwa Okwudili as an Executive Director, effective May 1, 2026. With over 25 years of banking experience, his promotion aligns with the bank's internal leadership development strategy.
Guinea Insurance Launches N5.8bn Rights Issue for Recapitalisation
Guinea Insurance has initiated a N5.8 billion rights issue to meet the July 31 recapitalisation deadline set by NAICOM. The company is offering 5.29 billion shares at N1.1 each to strengthen its capital base and expand services.
Nigerian Stocks Surge N1.1 Trillion on Airtel Africa Gains
The Nigerian stock market soared by N1.1 trillion, driven by gains in Airtel Africa and other blue-chip stocks, with the all-share index rising 0.85% to 200,705.88 points.
Instant Payment Growth in Africa Leaves 400M Unbanked
AfricaNenda Foundation reports a breakthrough in inclusive instant payments across Africa, with rapid national launches and increased transactions. However, 400 million Africans are still unbanked, highlighting the need for continued digital infrastructur
Nigeria's Digital TV Switchover: Satellite Solutions for Inclusion
Nigeria's digital switchover from analogue TV has stalled for decades, leaving millions in remote villages without reliable signals. A new N10 billion initiative aims to use satellite technology to bridge the gap and ensure nationwide access to digital br
Nigeria's Oil Price Gains Limited by Structural Constraints
PwC report warns that Nigeria's structural issues, like low production and crude-backed loans, may prevent full benefits from high oil prices, impacting inflation and economic stability.
Firms Push to Stabilize Nigeria's Power Supply with Grid Tech
Siemens AG and PE Energy Limited partner to deploy the GridScale X platform, aiming to enhance grid stability, metering accuracy, and operational efficiency in Nigeria's struggling power sector.
DAWN, BRACE Align on Lagos-Calabar Highway Economic Strategy
Stakeholders from South-West and South-South regions coordinate efforts to harness economic opportunities from the 750km Lagos-Calabar Coastal Highway, aiming for national transformation through joint planning frameworks.
Lagos Assures Safety for 40,000 at 2026 Fanti Carnival
Lagos State Government pledges robust security for 40,000 tourists and participants at the 2026 Lagos Fanti Carnival, highlighting cultural heritage and economic benefits.
Food Inflation, Scarcity Linked to Poor Preservation in Nigeria
Stakeholders in Nigeria's agriculture sector identify weak cold chain infrastructure and poor food preservation as key drivers of food inflation, seasonal scarcity, and massive post-harvest losses across the country.
NGX Group, FG Partner to Boost Women's Inclusion in Markets
Nigerian Exchange Group partners with the Federal Ministry of Women Affairs to advance women's economic empowerment and gender inclusion in Nigeria's capital markets, with SEC's leadership recognized globally.
Bayelsa Govt Pledges 60MW Gas Turbine Completion for Electricity
Bayelsa State government assures residents that the 60-megawatt gas turbine project is nearing commissioning to address prolonged power outages in Yenagoa and other areas.
Nigeria's Food Price Relief: A Temporary Respite
Nigeria's food inflation has dropped to single digits, offering hope after years of crisis. However, experts warn this relief may be fleeting without addressing underlying issues like insecurity and scale in farming.
Survivor Speaks on New York Airport Plane Crash
A survivor of the Air Canada plane crash at LaGuardia Airport shares his harrowing experience, detailing the chaotic escape and injuries sustained by passengers and crew.
Women Bridge Skills Gap in Nigeria's Solar Sector via installHER
The installHER program in Lagos is training Nigerian women in solar installation, system design, and energy management to address technical workforce shortages and gender inequality in renewable energy.
Navy Arrests Two Stowaways Off Lagos Coast
The Nigerian Navy has arrested two suspected stowaways, including a repeat offender, from a merchant vessel near Lagos for attempting illegal migration, handing them over to immigration authorities.
NPNEN Calls for One-Stop Export System to Boost SME Competitiveness
The Network of Practising Non-Oil Exporters of Nigeria urges a one-stop export system to tackle regulatory hurdles and enhance SME competitiveness, based on a study revealing low export rates and barriers like corruption and infrastructure gaps.
How to Beat Nigeria's High Construction Costs in 2026
Learn practical methods to manage material costs, prevent theft, and ensure profitability in Nigeria's challenging construction landscape, focusing on transparency and efficiency.
Dangote: Middle East War Could Force Global Economic Crisis
Aliko Dangote warns that unresolved Middle East conflict will drive up oil prices, forcing remote work policies and hurting vulnerable economies like Africa's, where many lack financial reserves.
Lovonus Microfinance Bank Gets New Chairman and ED
Usman Onoja has been appointed as the new chairman of Lovonus Microfinance Bank, succeeding Alfred Okoigun, who transitions to chairman of the Lovonus Group after over a decade of leadership marked by growth and integrity.
Power Minister Apologizes for Blackouts, Pledges Fix
Minister of Power Adebayo Adelabu has formally apologized to Nigerians for persistent power outages, citing gas supply issues and promising improvements within two weeks.
NGXASI Rises 0.85% as Nigerian Stock Market Bounces Back
The Nigerian equities market closed bullish on Tuesday, with the All-Share Index advancing 0.85% to 200,705.88 points. Market capitalisation increased to N128.84 trillion as Airtel Africa, GTCO, and other blue-chip stocks drove the rally.
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