In a bold move set to reshape Nigeria’s maritime sector, Mediterranean Shipping Company (MSC), the world’s largest container shipping company, has partnered with Nigerdock to invest $1 billion in developing a modern container terminal at Snake Island. However, This landmark deal signals a major leap toward strengthening Nigeria’s position in global trade. What’s the Snake…
Dollar Remittances: The Central Bank of Nigeria (CBN) has introduced a sweeping policy that will change how Nigerians receive money from abroad. All International Money Transfer Operators (IMTOs) now required to open naira settlement accounts and process remittances through them — effectively ending dollar payouts to recipients. What the New Directive Means However, Starting from…
Despite a significant drop in global crude oil prices from $130 to $100 per barrel, petrol prices across Nigeria remain stubbornly high. Investigations reveal that oil marketers are still selling Premium Motor Spirit (PMS) at ₦1,300 per litre and above, leaving consumers wondering why relief hasn’t reached the pump. What’s Driving the Global Price Decline?…
Finland set to lead a €23 million European Union-backed initiative aimed at improving digital public services and strengthening digital skills in Nigeria. However, The programme marks a significant step toward modernizing governance and building a digitally empowered workforce. Who Is Behind the Initiative? Also, The project will implemented in partnership with: Together, these organizations will…
Nigeria recorded a strong leap in export diversification in 2025, with non-oil exports rising to N12.36 trillion, up from N9.09 trillion in 2024. This growth signals a gradual shift away from oil dependency toward a more balanced and sustainable economy. Agriculture Leads the Charge According to data from the National Bureau of Statistics (NBS), agricultural…
At the Eighth Ministerial Dialogue in Abuja, Nigeria, co-chaired by H.E. Yusuf Maitama Tuggar, Nigeria’s Minister of Foreign Affairs, and H.E. Ms. Kaja Kalla. High Representative of the EU for Foreign Affairs and Security Policy, the European Union announced a new Team Europe investment package worth EUR 290 million. However, This funding will support seven…
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…
