Author: Ogochukwu Ndubuisi

Japan Commits $3.5m Grant to Boost Nigeria’s Rice Seed Production The government of Japan on Monday provided about 587 million Japanese yen, equivalent to 3.5 million US Dollars, to strengthen rice seed production and boost agriculture and Nigeria’s food security. Japanese Ambassador to Nigeria, Mr Hideo Suzuki, disclosed this at the handover ceremony of the Project for the Enhancement of Rice Seeds Production System at the National Cereals Research Institute (NCRI), Badeggi, Bida Local Government Area of Niger. Suzuki explained that the project would strengthen NCRI capacity to produce high-quality breeder and foundation rice seeds, thereby improving the quality of…

CIBN, Lagos Govt Partner to Boost SME Growth, Banking Innovation The Chartered Institute of Bankers of Nigeria (CIBN) has called for stronger collaboration with the Lagos State Government to boost SME growth, financial inclusion and banking innovation. The President and Chairman of Council of CIBN, Dr Dele Alabi, made the call in a statement by Mr Taofik Sanni, CIBN’s Acting Head, Corporate Communications and Brand Management, on Monday in Lagos. Alabi spoke during a courtesy visit to Gov. Babajide Sanwo-Olu at Lagos House, Alausa, Ikeja. He said stronger collaboration between CIBN, banks and the state would support Micro, Small and…

Oil prices rose on Tuesday as renewed concerns over a potential escalation…

Guaranty Trust Bank, or GTBank, has increased its quarterly spending by 100% to $40,000…

The naira rose against the US dollar at the official window on Monday after an FX report

The Nigerian Exchange (NGX) market capitalisation and All-Share Index surged on Monday

Wike Denies Lobbying for APC Presidential Campaign DG Minister of the Federal Capital Territory (FCT), Nyesom Wike, has debunked reports suggesting that he is lobbying to be appointed Director-General (DG) of the All Progressives Congress (APC) Presidential Campaign Council (PCC). Wike made the rebuttal in a statement by his Senior Special Assistant on Public Communications and Social Media, Mr Lere Olayinka, on Monday in Abuja. A report by some sections of the media had listed Wike among top party members and government officials lobbying or being mentioned for the position of the APC presidential campaign DG. Reacting, the minister described…

Lagos Needs Bigger Budget to Meet Infrastructure Needs — Hamzat Lagos Deputy Gov. Obafemi Hamzat says the state requires a larger budget to meet its growing infrastructure needs, citing rising costs and rapid population growth as major pressures. Hamzat made this known while featuring at a Fresh FM radio programme monitored by the News Agency of Nigeria in Lagos on Monday. He said that although the government was investing heavily in key sectors, available resources remained inadequate to address the scale of demand. He identified transport, housing, healthcare and education as critical areas requiring sustained and expanded funding. “Resources available…

NERC Dissolves Kaduna Electric Board Over Non-Remittance The Nigerian Electricity Regulatory Commission (NERC) has dissolved the board of Kaduna Electricity Distribution Company (KAEDC) over persistent non-remittance to the electricity market and failure to improve operational performance. The decision is contained in Order No. NERC/2026/086 issued in Abuja on Monday and signed by NERC Chairman, Mr Musiliu Oseni, and Commissioner for Legal, Licensing and Compliance, Mr Dafe Akpeneye. According to the order, the dissolution took effect from Aug. 10 following an inquiry and consultations with key industry stakeholders, including the Bureau of Public Enterprises (BPE). NERC also appointed Mr Abubakar Hashidu…

Iran Sets Steep Conditions for Reopening Strait of Hormuz A tense standoff over the Strait of Hormuz is deepening after Iran set steep and wide-ranging conditions for reopening access and shipping lanes through the vital waterway, despite ongoing regional diplomatic efforts mediated through Oman. Iran said it was nearing a final pact with Oman to define new shipping lanes between them through the Strait of Hormuz. Still, it reiterated that the U.S. must meet other conditions, including compensation and an end to sanctions and military threats, before the strategic waterway is reopened. The strait, through which about a fifth of…