NSDC links sugar industry growth to jobs and security The Executive Secretary of the National Sugar Development Council, Kamar Bakrin, says a fully developed sugar industry could create up to one million jobs across Nigeria. Bakrin spoke during a strategic meeting between the NSDC and the Nigeria Customs Service at the Customs headquarters in Abuja….
S&P Raises Nigeria’s Sovereign Credit Rating S&P Global Ratings has upgraded Nigeria’s long-term foreign and local currency sovereign credit ratings to “B” from “B-”. The global ratings agency announced the upgrade on Friday. It also affirmed Nigeria’s short-term ratings at “B” with a stable outlook. According to S&P, Nigeria’s macroeconomic position has improved due to…
The Central Bank of Nigeria (CBN) has launched the fourth edition of its Foreign Exchange Manual as part of ongoing reforms to improve transparency, liquidity, and confidence in the country’s forex market. The revised framework will take effect from June 1, 2026. CBN Governor Olayemi Cardoso announced the launch on Friday in Abuja. Cardoso Highlights…
The Organisation for Economic Co-operation and Development has pledged to support Nigeria with economic and investment data to strengthen policy planning, improve investor confidence, and drive ongoing reforms. Senior OECD officials made the commitment during a meeting with President Bola Tinubu in Kigali, Rwanda, on Friday. The meeting took place on the sidelines of the…
The South West Development Commission has secured a provisional rail operating and track access licence from the Nigerian Railway Corporation, opening the door for passenger and freight rail services across existing rail corridors in the South-West. The move marks a major step toward improving regional connectivity, reducing logistics costs and driving economic growth across the…
Nigeria’s broadband penetration has increased to 54.3 per cent following aggressive network expansion by telecommunications operators, the Nigerian Communications Commission has said. The Executive Vice Chairman and Chief Executive Officer of the NCC, Aminu Maida, disclosed this on Thursday during the 2026 Workshop for Judges on Legal Issues in Telecommunications held in Lagos. The NCC…
Procurement executives, policymakers and corporate leaders from across Africa will gather in Lagos on May 26 for the Digital Procurement Africa Summit 2026. The event will focus on using technology to tackle fraud, inefficiency and weak oversight in procurement systems. Gloopro is organising the summit at a time when many African businesses are redefining procurement….
Regulator Raises Alarm Over Rising Online Investment Fraud The Securities and Exchange Commission has cautioned Nigerians against investing in unregistered schemes promoted on social media platforms. The commission issued the warning in a public notice shared on its X handle on Thursday. According to the SEC, fraudsters now use WhatsApp, Instagram, Telegram, Facebook, and TikTok…
Businesses Turn to AI Amid Economic Pressures The Regional Managing Partner for EY West Africa, Anthony Oputa, has said Nigerian businesses are increasingly adopting artificial intelligence to improve productivity and strengthen operations amid economic uncertainty. Oputa stated that companies across Nigeria and West Africa now view AI as a critical tool for growth, efficiency, and…
Experts Raise Concerns Over Inconsistent Court Decisions Judicial experts have warned that inconsistent court rulings in banking and financial disputes could threaten Nigeria’s financial stability and weaken public confidence in the banking system. The warning came during the 2026 sensitisation seminar for judges of the Federal High Court held in Lagos. National Judicial Institute organised…
