Nigeria is planning to raise $5 billion from First Abu Dhabi Bank through a structured derivatives deal aimed at reducing borrowing costs amid rising global interest rates. The move comes as international tensions, including the conflict involving Iran, continue to push up borrowing costs worldwide, making traditional loans and Eurobonds more expensive for developing economies….
President Bola Ahmed Tinubu has approved the construction of a second runway at the Nnamdi Azikiwe International Airport in Abuja, in a move aimed at strengthening Nigeria’s aviation infrastructure. The announcement was made by the Minister of Aviation, Festus Keyamo. Who described the decision as a critical step toward improving efficiency and safety in the…
Africa’s leading payments company, Flutterwave, has reportedly secured a full banking license from the Central Bank of Nigeria (CBN). Marking a major milestone in its evolution from a payments platform to a full financial services provider. Founded in 2016, Flutterwave has grown into one of Africa’s most influential fintech firms. Operating in over 30 countries…
Abia State Governor Alex Otti has approved the takeover of Afro Beverages by NEPAL Energies Limited in a strategic move to revive the company and boost the state’s economy. Afro Beverages, located in Aba, was recently acquired by the state government from the Asset Management Corporation of Nigeria as part of efforts to resuscitate struggling…
Temitope Ajayi, presidential aide, says Nigeria’s naira-for-crude policy is shielding the country from global fuel disruptions amid rising tensions in the Middle East. Ajayi said the initiative has helped maintain energy stability despite the ongoing crisis involving Iran, Israel, and the United States. He explained that the policy allows local refineries, including the Dangote Petroleum…
President Bola Tinubu has appointed Professor Shu’aibu Shehu Aliyu as the new Executive Secretary of the Petroleum Technology Development Fund (PTDF). Aliyu replaces Ahmed Galadima Aminu, who stepped down to pursue his governorship ambition in Adamawa State ahead of the 2027 elections. The new PTDF boss previously served as Executive Secretary of the National Commission…
The Kaduna State Government set to sign a major agreement with the University of London to expand distance online learning opportunities at Kaduna State University (KASU). According to the Commissioner for Education, Abubakar Sambo. The memorandum of understanding (MoU) will mark a significant step toward modernizing the state’s education system and aligning it with global…
Dangote Petroleum Refinery has made a significant international move, exporting jet fuel to the United Kingdom amid growing global supply challenges. This development positions Nigeria as a rising alternative supplier to Europe, especially as traditional Middle Eastern sources face disruptions. A cargo of jet fuel from the Lekki-based refinery recently arrived in the UK, marking…
The Federal Ministry of Finance Nigeria has reaffirmed plans to deepen trade and investment relations between Nigeria and Bangladesh. This follows a high-level meeting between the Minister of Finance, Wale Edun, and Bangladesh’s High Commissioner to Nigeria, Miah MD Mainul Kabir. Both sides expressed commitment to building a stronger economic partnership that goes beyond current…
The Federal Government of Nigeria and private sector leaders have aligned on a massive $50 billion investment initiative aimed at transforming Nigeria’s livestock sector into a $74 billion economic powerhouse. The plan was unveiled at a national stakeholders’ roundtable in Abuja, signaling one of the most ambitious agricultural transformation efforts in the country’s history. Government…
