Britain’s energy regulator, Ofgem today approved £28 billion of investment to upgrade the nation’s electricity and gas networks from 2026 to 2031. Energy companies now receive the funding they need to modernise infrastructure and handle growing demand. Bills Rise to Fund Essential Work Households will see network charges increase by £108 a year by 2031….
The Central Bank of Nigeria removes all restrictions on cash deposits. This move reverses tight measures from the previous administration. Nigerians can now deposit any amount without limits or fees. Key Policy Changes First the CBN scraps cumulative deposit limits for individuals and companies. Banks do not charge fees on large deposits anymore. In addition,…
Although 2025 is coming to a close, Africa’s wealthiest entrepreneurs have recorded notable changes in their net worth due to market shifts, political developments, and strong business performance. The richest entrepreneurs in Africa 2025 continue to expand their empires through strategic investments and diversified businesses, highlighting the continent’s growing economic influence. According to Forbes, here…
UN Secretary-General António Guterres addressed the Fifth Committee in New York. He revealed that 145 member states have paid their 2025 dues fully. Nigeria joins 144 others in this group. Additionally, China completed its payment on October 29. Nigeria Sets an Example Nigeria paid its full dues on September 25. This action shows commitment to…
The Central Bank of Nigeria (CBN) confirmed that 16 banks have successfully met the recapitalisation requirements ahead of the March 31, 2026 deadline. Governor Olayemi Cardoso made the announcement after the 303rd Monetary Policy Committee (MPC) meeting in Abuja on Tuesday, November 25, 2025. The banks raised the required capital through share offers, bond issuances,…
The Cross River State Government today announced the approval of single-digit interest loans for 500 small and medium enterprises (SMEs) under a collaborative program with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and Sterling Bank. Screening and Selection Officials receive over 1,000 applications for the loans. They screen and select 500 candidates….
The Kano State Executive Council approved N54.7 billion to fund development projects across key sectors. The council aims to accelerate development and improve service delivery. Projects Target Infrastructure, Education, Health, and Security The Commissioner for Information and Internal Affairs, Ibrahim Abdullahi-Waiyya, told journalists that the council ratified submissions from Ministries, Departments, and Agencies totaling N54.8…
The Nigerian Stock Exchange (NSE) rallied strongly on Friday. Investors exchanged 1.826 billion shares valued at N20.03 billion across 20,645 deals. This marked a sharp increase from Thursday, when 324.6 million shares worth N13.05 billion were traded in 18,328 transactions. The surge shows renewed investor confidence and strong market activity. According to the News Agency…
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has reported that Nigeria petrol consumption averaged 56.74 million litres per day in October 2025. This figure reflects nationwide demand across fuel distribution channels. Domestic Production and Imports According to the NMDPRA’s fact sheet released on Friday, local refineries produced 17.08 million litres daily, while imports…
President Bola Tinubu, represented by Labour Minister Dr. Muhammad Dingyadi, inaugurated the Electric Tricycle Empowerment Initiative in Abuja. The program aims to reduce transport costs, lower pollution, and expand youth employment. Cleaner Mobility and Environmental Goals Tinubu explained that the initiative aligns with Nigeria’s national energy transition plan. Moreover, the electric tricycles are expected to…
