Author: Ogochukwu Ndubuisi

FG to Implement Digital Infrastructure, Data Exchange Platforms in 2026 The National Information Technology Development Agency (NITDA) says it will begin the implementation of the Digital Public Infrastructure (DPI) and the Nigerian Data Exchange (NGDX) platforms in sectors of economy early 2026. Dr Salisu Kaka, Director, E-Government and Digital Economy of NITDA, said this at the public review of the Digital Public Infrastructure (DPI)Live Event and the Nigerian Data Exchange (NGDX) drafts by stakeholders on Friday in Abuja. The public review of both drafts had its theme as “Advancing Nigeria’s Digital Public Infrastructure through Standards, Data Exchange and e-Government Transformation.”…

Nigerian Stock Market Shrinks as Investors Lose N264bn The Nigerian stock market shrank as investors lost N264 billion to renewed profit-taking activities. The market relapse was driven by selloffs in stocks like Livingtrust Mortgage Bank, Veritas Kapital Assurance, Secure Electronic Technology, NGX Group and 39 other stocks. Specifically, the Nigerian Exchange Ltd. (NGX) market capitalisation, which opened at N90.008 trillion, shed N264 billion or 0.29 per cent to close at N89.744 trillion. Also, All-Share Index also lost 0.29 per cent or 417.72 points to close at 141,845.35, against 142,263.07 recorded on Thursday. The market breadth closed negative with 43 losers…

Fubara Resumes Office, Pledges Peace, Reconciliation Gov. Siminalayi Fubara of Rivers has pledged inclusive governance and reconciliation as he resumed office after the six months of emergency rule was lifted by President Bola Tinubu. Rivers was placed under emergency rule on March 18, following intense political crises that threatened peace, governance, and stability in the state. Fubara, in a statewide broadcast in Port Harcourt on Friday, described the period as enormously challenging but necessary to restore order and safeguard democratic institutions. He said that as governor, he chose to abide by the declaration and co-operated fully with Tinubu and the…

World Bank Group Successfully Closes Inaugural Securitization Transaction The World Bank Group, through its private sector arm, the International Finance Corporation, has closed its inaugural securitization transaction, successfully launching a new model to attract institutional private capital into emerging markets. This transaction marks the first tangible step in a larger effort to build an originate-to-distribute model for emerging market investments. The $510 million collateralized loan obligation (CLO) comes after two years of determined work to design and prepare the product. The repackaging of IFC loans into rated securities creates a new asset class for emerging markets that meet institutional investment…

Seplat Unveils $3bn 5-year Growth Plan Seplat Energy Plc has unveiled a five-year roadmap to boost production capacity by 50 per cent between 2026 and 2030. Chief Executive Officer, Roger Brown, disclosed this in a statement on Friday, following the firm’s successful acquisition of Mobil Producing Nigeria Unlimited (MPNU). He said the roadmap would be anchored on $2.5 to $3 billion capital investment over five years, beginning in 2026. The investment will fund 120 to 150 new wells and up to three major gas projects, aimed at strengthening Nigeria’s energy and power supply. Brown said Seplat’s strategy was supported by…

Marketers Demand N1.5trn Subsidy to Match Refinery Gantry Price – Dangote Dangote Petroleum Refinery has disclosed that the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) demanded an annual subsidy of N1.505 trillion to enable members to match the refinery’s gantry prices at their own depots. The refinery disclosed that although it offers petroleum products to marketers at its gantry price, DAPPMAN insists on taking delivery via coastal logistics, an option that would add N75 per litre in extra costs. Based on daily consumption volumes of 40 million litres of Premium Motor Spirit (PMS) and 15 million litres of…

China Says World is at ‘Crossroads’ Between Peace and War China has warned against interference in its affairs and further disputes amid regional conflicts. “The world today stands at another crossroads: peace or war, dialogue or confrontation,” said Defence Minister Dong Jun at the opening ceremony of the Xiangshan Forum in Beijing on Thursday. Taiwan is indisputably part of China, he said, adding that the People’s Liberation Army is a powerful force capable of defending “reunification.” Beijing would never allow attempts at Taiwanese independence to succeed, Dong said. It is prepared to thwart any “external military interference” at any time,…

Tinubu Lifts Emergency Rule in Rivers, Fubara Resumes as Governor Thursday ‎ President Bola Tinubu has lifted the State of Emergency in Rivers State, and directed that Gov. Siminalayi Fubara, his deputy and members of the State House of Assembly to resume duties on Thursday. ‎In a statement released Wednesday in Abuja, the President said the decision followed the restoration of peace and order in the state. ‎“It therefore gives me great pleasure to declare that the emergency in Rivers shall end with effect from midnight today.” ‎”The Governor, His Excellency Siminalayi Fubara, the deputy governor, Her Excellency Ngozi Nma…

United Capital Plc Mourns Loss of Six Colleagues in Afriland Towers fire The Management and Staff of United Capital Plc has announced the passing of six of their colleagues, following the tragic fire incident at Afriland Towers on Tuesday, Sept. 16, 2025. This is contained in a statement made available to newsmen by the organisation on Thursday. “Our departed colleagues were not only valued members of our team but also cherished members of our United Capital family. “Their loss leaves an immeasurable void within our organisation and in the hearts of all who knew them. “We extend our deepest condolences…

FG Disburses N330bn to Vulnerable Nigerians- Edun The Federal Government has disbursed N330 billion cash transfers to poor and vulnerable Nigerians through the National Social Safety-Net Coordinating Office (NASSCO). The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, disclosed this on Wednesday in Abuja at a meeting of the Special Presidential Panel on Social Investment Programme. He said that the intervention was part of President Bola Tinubu’s programmes to help the poorest and the vulnerable through the difficulties caused by the increase in the price level as a result of the necessary reforms put in place.…