Author: Ogochukwu Ndubuisi

Telecom Sector Attracts $1bn After Pricing Review – NCC The Nigerian Communications Commission (NCC) says its decision to return to market-driven pricing in the telecoms sector has spurred over one billion dollars in infrastructure investment or capital expenditure in 2025. Aminu Maida, Executive Vice-Chairman of the NCC, said this during an interactive session with journalists in Lagos on Friday. He explained that the policy shift, introduced in January and February 2025, allowed mobile network operators to adjust tariffs by up to 50 per cent after nearly a decade of stagnant pricing. “This act alone, has allowed investments to flow in.…

Abia Announces Approval of $125 million Islamic Bank Loan Abia Government has announced the approval of $125 million Islamic Bank (IsDB) loan financing facility by the Federal Executive Council at its meeting of Wednesday, Aug. 13. Mr Ukoha Njoku, the Chief Press Secretary to Gov. Alex Otti, disclosed this in a statement issued to newsmen in Umuahia on Thursday. Ukoha added that the facility would be used for the state Integrated Infrastructure Development Project. “This approval marks a major milestone in a project that has undergone extensive consultations and procedural steps. “The fund is a critical component of the overall…

Tinubu Deserves Credit for Stabilising Economy – Okonjo-Iweala ‎ Dr Ngozi Okonjo-Iweala, the Director-General of the World Trade Organization, (WTO,), says President Bola Tinubu deserves credit for stabilising Nigeria’s economy through bold reforms. She spoke with State House correspondents on Thursday after a closed-door meeting with the President at the Presidential Villa, Abuja. Okonjo-Iweala noted the government’s efforts to steady the economy as a key step in building long-term growth. ‎”The president and his team have worked hard to stabilize the economy and you can’t really improve an economy unless it’s stable. “He has to be given the credit for…

NUPRC Unveils Strategies to Boost Oil Sector The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has flagged inefficiencies and overlapping regulations as major obstacles to growth in Nigeria’s upstream oil and gas sector. The challenges are opaque fiscal structures and weak investor confidence. NUPRC Chief Executive, Mr Gbenga Komolafe, outlined these challenges at the Nigerian Association of Petroleum Explorationists (NAPE) golden jubilee lecture on Thursday in Lagos. Komolafe spoke on: ‘Evolution of Oil and Gas Regulation in Nigeria: Opportunities, Achievements, and Regulatory Strategies for Upstream Resource Optimisation.’ He that lengthy approvals and uncompetitive regulations hinder resource exploitation. He traced sector development…

FG Unveils N10m Interest-Free Loan Scheme for Staff in Tertiary Institutions The Federal Government has unveiled a ₦10 million Tertiary Institutions Staff Support Fund (TISSF), designed to improve the welfare, career development, and financial stability of academic and non-academic staff in tertiary institutions. The scheme, unveiled by the Minister of Education, Dr Tunji Alausa in Abuja on Thursday, is an interest-free loan. The TISSF is a joint initiative of the Federal Ministry of Education and the Tertiary Education Trust Fund (TETFund), implemented in partnership with the Bank of Industry. Alausa said the scheme was an intergral part of President Bola…

Ajaokuta Indebted to N2 billion in Electricity Yet not Producing Steel The Chairman of the Senate Committee on Steel Development, Patrick Ndubueze, disclosed that the moribund Ajaokuta Steel Company was at times indebted to the tune of ₦2 billion in electricity payments, despite not producing. Sen. Ndubueze stated this at the maiden edition of the National Steel Summit with the theme “Rebuilding and Consolidating Nigeria’s Steel Industry: Collaborative Action for Sustainable Growth and Global Competitiveness” on Wednesday in Abuja. “Once in Ajaokuta I cried for my beloved country. Ajaokuta can produce brake parts, ball bearings, seals, engine blocks and other…

eTranzact Unveils AI Readiness Report for SMEs eTranzact International Plc, in partnership with the Enterprise Development Centre at Pan-Atlantic University, on Wednesday launched a report on ‘AI Readiness of Nigerian SMEs.’ Speaking during the Lagos launch, eTranzact Managing Director/CEO, Mr Niyi Toluwalope, said the company views Artificial Intelligence as an immediate opportunity for Nigerian businesses. “This research bridges the knowledge gap by helping SMEs understand their AI adoption status and what they need to compete locally and globally,” he said. He added that the study reinforced eTranzact’s role as an enabler of digital growth and innovation beyond payments. The report…

OAGF Engages MDAs on 2025 Budget Implementation The Office of the Accountant-General of the Federation (OAGF) on Wednesday, engaged Federal Government accounting officers on new modalities to transit from the 2024 budget to that of 2025. The briefing was at a stakeholders’ engagement with chief executives of Ministries, Departments, and Agencies (MDAs) on the implementation of the 2025 capital budget and related issues. The Accountant-General of the Federation (AGF), Mr Shamseldeen Ogunjimi, said that the Federal Government initiated the implementation of a cash management and bottom-up cash planning policy for the execution of the 2025 Capital Budget. Ogunjimi said that…

Nigeria to Reposition its Steel Sector -Minister Nigeria has committed to repositioning its steel industry as a driver of industrialisation and economic diversification. The Minister of Steel Development, Prince Shuiab Audu, stated this at the opening of the maiden edition of the National Steel Summit on Wednesday in Abuja. The two-day summit is on the theme’ Rebuilding and Consolidating Nigeria’s Steel Industry: Collaborative action for Sustainable growth and Global competitiveness ‘. Audu stated that the commitment aligned with President Bola Tinubu’s Renewed Hope Agenda to grow Nigeria’s Gross Domestic Product (GDP) to a three-trillion-dollar economy by 2030. He said that…

NCC Rallies Stakeholder Support to Protect Telecom Infrastructure The Nigerian Communications Commission (NCC) has reiterated its commitment to the full operationalisation of President Bola Ahmed Tinubu’s Executive Order on Critical National Information Infrastructure (CNII), which designates telecommunications facilities as critical national assets deserving optimal protection. This comes on the heels of a successful mediation led by the Office of the National Security Adviser (ONSA), in collaboration with the Commission, which resulted in the suspension of a planned strike by the Natural Oil and Gas Suppliers Association of Nigeria (NOGASA). The strike, if carried out, would have disrupted the supply of…