Author: Ogochukwu Ndubuisi

Sri Lanka Commits to 3 Year Electricity Cost Reduction Plan The Sri Lankan government reiterated that it intends to bring down electricity tariffs over the next three years by lowering power generation costs, local media reported. Anil Jayantha Fernando, Minister of Labour and Deputy Minister of Finance and Planning, said electricity pricing remained tied to a cost-recovery framework, meaning that end-user tariffs reflect underlying generation expenses. He said the administration’s priority is to address those cost drivers over the medium term rather than rely solely on periodic tariff changes. Temporary fluctuations in power tariffs might occur, Fernando said, noting that…

Active Voice Subscription Hit 171.7m in Q2 – NBS The National Bureau of Statistics (NBS) says telecom industry maintained strong performance through the second quarter of 2025, with active voice subscriptions rising 171,730,06. According to NBS, this shows a growth rate of 0.48 per cent compared to the 170,904,257 reported in the second quarter of 2024. This is contained in the NBS Telecoms Data: Active Voice and Internet, Porting and Tariff Information Report for Q2 2025, released in Abuja on Monday. On a quarter-on-quarter basis, the report showed that active voice subscribers decreased by 0.57 per cent from the 172,708,410…

Nigeria, Angola Sign Agreement to Ease Movement of Diplomats, Government Officials The Federal Government of Nigeria and the Government of the Republic of Angola have signed bilateral agreement to ease movement of diplomats and government officials across both countries. This is contained in a statement issued on Monday by Nigeria’s Minister of Foreign Affairs, Amb. Yusuf Tuggar, through the spokesperson of the ministry, Kimiebi Ebienfa. The draft Agreement between the two countries which focus on Visa Exemption for Holders of Diplomatic and Official/Service Passports was formally signed by both parties on Feb.15, 2026. According to Tuggar, who led the Nigerian…

Naira Opens Strong, Markets Anticipate Stability The naira opened strong on Monday after a previous gain as market confidence remains intact at the official window. Foreign payments and US dollar supply are projected to match as the authority seeks to maintain stability, with a preference for gradual appreciation. Last week, the Naira maintained its appreciation against the US dollar in the Nigerian Foreign Exchange Market (NFEM) window, supported by continued intervention by the authority. The exchange rate improved at the official window, and the Naira strengthened by ₦10.78 per USD to close at ₦1,355.41 compared to ₦1,366.19 recorded previously. Trading…

A flood of inflow from expired investment securities, amid zero liquidity mop-up, drove excess liquidity in the money market higher last week. 

Ethereum (ETHUSD) slumped by about 7% in the last 24 hours in the crypto market, hovering around $1,940.37

UBA Unveils Diaspora Platform to Power Global African Lifestyle Africa’s Global Bank, United Bank for Africa (UBA) Plc, has unveiled a diaspora banking and investment platform designed to serve Africans living and working across the world and within the continent. The platform, launched in collaboration with leading ecosystem partners including United Capital, Africa Prudential, UBA Pensions, Afriland Properties, Heirs Insurance Group, and Avon Healthcare Limited, represents a major step in redefining diaspora banking beyond remittances toward structured wealth creation and long-term investment. At the unveiling, which took place at UBA’s global headquarters in Lagos under the theme: “Beyond Banking: Powering…

The Chairman of Nigerian Exchange (NGX) Group, Dr. Umaru Kwairanga, has urged the listing of viable state-owned enterprises

Equity investors trading highs and lows in the Nigerian market gained about N6.8 trillion over the five trading sessions that ended on Friday

Customs Unveils System to Fast-Track Cargo Processing The Comptroller-General of Customs (CGC), Bashir Adeniyi, says full implementation of the One-Stop Shop (OSS) will make customs operations paperless and significantly enhance trade facilitation. Speaking while inaugurating the One-Stop Shop for customs operations in Lagos on Friday, Adeniyi said the platform would dismantle procedures that encourage multiple checkpoints and delays in cargo clearance. Represented by the Deputy Comptroller-General in charge of Enforcement and Investigation, Timi Bomodi, he said the initiative was a deliberate shift from fragmented procedures to coordinated governance. According to Adeniyi, the digital OSS centralises all risk interventions at the…