Dele Alake has announced that Nigeria attracted a total of $2.6 billion in foreign direct investment (FDI) over the past 30 months. However, The disclosure highlights growing investor interest in Nigeria, particularly within the solid minerals sector. Where the Announcement Was Made Alake made this known during the ongoing Powering Africa Summit in Washington, D.C.,…
The Central Bank of Nigeria (CBN) has been named “Central Bank of the Year” at the 2026 Central Banking Awards, marking a major international endorsement of Nigeria’s recent economic reforms. The award recognises central banks that demonstrate outstanding policy leadership, innovation, and impact. Reforms That Drove the Win The recognition follows a series of sweeping…
Nigeria’s fuel sector is facing a new wave of uncertainty as Dangote Petroleum Refinery considers exporting all its refined products, a move that could trigger fresh fuel scarcity across Nigeria. The development follows the continued issuance of petrol import licences by regulators, despite the refinery’s massive local production capacity. Why Dangote Is Considering Exports Sources…
Moniepoint, a leading fintech company, has acquired Orda Africa, a cloud-based restaurant management platform. This strategic move strengthens Moniepoint’s presence in Africa’s rapidly growing food services industry. The company announced on Monday that Orda will be integrated into its Moniebook platform, an all-in-one point-of-sale (POS) and business management solution set to launch in 2025. This…
Nigeria is facing a massive housing crisis, with a staggering 14.9 million unit deficit, as rapid urbanisation continues to outpace development. Experts say the country must build at least 550,000 homes every year just to meet current demand—an ambitious target that highlights the scale of the housing crisis. Race Against Time for SDG 2030 Moreover,…
President Bola Tinubu set to headline the upcoming Niger Delta Investment and Economic Summit, a high-level event aimed at unlocking new economic opportunities across the region. However, The summit will take place in Port Harcourt, bringing together key players from government, business, and development sectors. Driving Investment and Sustainable Growth Although, Designed as a high-impact…
Nigeria Revenue Service has officially taken full control of Value Added Tax (VAT) collection in Nigeria, marking the exit of the Nigeria Customs Service from import VAT collection. Also, This move is part of Nigeria’s broader tax reform agenda, aiming to simplify revenue administration and reduce duplication across agencies. Customs Collection Drops to Zero However,…
Residents in Eket are finally getting relief as Pivot Energy opens a new petrol station in the area. The development comes at a time when demand for reliable fuel supply is rising alongside growing economic activity across Akwa Ibom State. Easing Long-Standing Distribution Challenges For many motorists and businesses in Eket, accessing fuel has been…
Entrepreneurs backed by the Tony Elumelu Foundation (TEF) have generated an impressive $4.2 billion in revenue since the programme launched in 2015. However, The achievement highlights the growing impact of entrepreneurship-driven development across Africa. 1.5 Million Jobs Created Beyond revenue, the initiative has delivered massive employment opportunities, with over 1.5 million jobs created by TEF-supported…
A recent review of all 774 Local Government Areas (LGAs) in Nigeria has uncovered a troubling truth—most local governments do not make their budgets public. Although, For citizens, this means the level of government closest to them is also the least transparent. What the Findings Reveal The assessment paints a concerning picture of accountability at…
