The Executive Governor of Lagos State has announced the signing of a Memorandum of Understanding (MoU) with the Commonwealth Enterprise and Investment Council (CWEIC), strengthening international investment collaboration ahead of Invest Lagos 3.0 in 2026. The agreement formalised during a courtesy visit by Samantha Cohen, Chief Executive Officer of CWEIC, at Lagos House, Marina. According…
The Federal Government has taken a major step toward expanding access to consumer credit. With the formal inauguration of the Board of the Nigerian Consumer Credit Corporation (CREDICORP). The Board was inaugurated by Vice President Kashim Shettima, who described improved access to consumer credit. As a critical pillar of Nigeria’s ambition to become a $1…
Aliko Dangote has unveiled ambitious plans to construct Africa’s largest detergent feedstock plant. Within the sprawling Dangote Refinery complex, marking another major step in the refinery’s transformation into a full-scale industrial powerhouse. The new facility will produce 400,000 tonnes of Linear Alkyl Benzene (LAB) annually. A critical raw material used in the manufacturing of detergents…
Doris Uzoka-Anite has revealed fresh progress on Nigeria’s infrastructure financing plans. Following a high-level meeting with Maryam Khosrowshahi and her team from Deutsche Bank. In a post shared on X, the Minister of State for Finance disclosed that discussions focused primarily on. Finalizing a proposed $560 million financing package for the Sokoto–Badagry road project. A…
The Honourable Minister of Finance and Coordinating Minister of the Economy. Mr. Wale Edun, has expressed support for the Central Bank of Nigeria’s decision. To lower the Monetary Policy Rate (MPR) by 50 basis points to 26.5%. This decision was made during the 304th Monetary Policy Committee meeting held in Abuja as seen on X….
A United States district court has sentenced Paulinus Iheanacho Okoronkwo. A former general manager at the Nigerian National Petroleum Corporation (now NNPC Limited), to 87 months in prison. Okoronkwo found guilty of accepting a $2.1 million bribe tied to oil drilling rights in Nigeria. Okoronkwo, 58, holds dual citizenship in Nigeria and the United States….
Switzerland adopted new measures against Russia. The Federal Council decided to ban the purchase and import of Russian liquefied natural gas. Announcement of the Ban The Federal Council announced the decision on February 25, 2026. They set the ban to start on April 25, 2026. Additionally, they allowed a transitional period until the end of…
The Dangote Petroleum Refinery has signed an offtake agreement with 12 major and independent oil marketers to distribute 60–65 million litres of petrol daily across Nigeria. However, this landmark deal in the downstream oil sector is expected to stabilize fuel supply and enhance Nigeria’s self-sufficiency in petrol production. Key Details Aliko Dangote, Chairman of Dangote…
The Federal Government of Nigeria is working on new ways. To make foreign-currency savings and investments easier for everyday Nigerians, including those living abroad. This effort is part of a larger plan to boost financial inclusion and strengthen the country’s capital markets. Mr. Wale Edun, the Honourable Minister of Finance and Coordinating Minister of the…
The South-East Development Commission (SEDC) has sought legislative approval for a N140 billion budget for 2026. The commission also revealed its ambitious plan to transform the South-East into a $200 billion economy within the next decade. This announcement made on Tuesday by the commission’s Managing Director, Mark Okoye, during a budget defence session with the…
