Author: Ogochukwu Ndubuisi

US, FG seek Innovative Solutions to Boost Agricultural Trade The U.S. Mission’s Foreign Agricultural Service (FAS) has partnered with the Federal Government to adopt innovative solutions aimed at enhancing agricultural trade for economic growth and food security. Mr Matthew Obogbaimhe, Chairman of the Nigerian-American Chamber of Commerce (NACC), Kaduna Chapter, said this at a roundtable on Thursday in Abuja. Obogbaimhe said revitalising Nigeria’s agricultural sector required more than trade restrictions, stressing that the sector demands innovation, sustainable practices and investment in infrastructure. The roundtable, tagged “Innovative Approaches to Agricultural Trade for Economic Growth and Food Security,” was organised by FAS…

Naira Spot Rate Little Change on Balanced FX Demand, Supply The naira rate closed with little change against the US dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM), climbing by 30 kobo to end the day at ₦1,488.26 per US dollar from N1,488.56 the previous day. With the Central Bank of Nigeria (CBN) keeping its eyes on US dollar liquidity, and export inflows passing through the official window, the forex market continues see adequate level of FX supply to meet corporate demand. Forex market analysts noted that the naira spot exchange rate movement suggests absence of significant demand for…

Zenith Bank, GTCO Drive NGX Index Higher by 0.31% in Fresh Rally Zenith Bank, GTCO, and other banking names drove the Nigerian Exchange (NGX) All-Share Index (ASI) and other key performance indicators higher on Thursday. The local bourse recovered from losing streaks on Thursday as investors began to re-entered positions in post-interest rate cut reactions. The local bourse experienced an uptrend with bullish sentiments that dominated trading activities, bolstered by interest in financial and consumer goods stocks. According to data from the Nigerian bourse, the All-Share Index (ASI) increased by 0.31%, closing at 141,149.04 points. The positive movement was largely…

GCR Upgrades Sterling Bank’s Ratings with Stable Outlook GCR Ratings has upgraded Sterling Bank Limited’s national scale long and short-term issuer ratings to BBB+(NG) and A2(NG) from BBB(NG) and A3(NG), respectively. The African focused rating agency also upgraded Sterling Investment Management SPV Plc’s Series 2 NGN32.89 billion Fixed Rate Senior Unsecured Bond rating to BBB(NG) from BBB-(NG). Outlooks on the ratings are maintained as stable, GCR said, adding that the ratings of Sterling Bank Limited reflect the strengths and weaknesses of the non-operating consolidated group, Sterling Financial Holdings Company Plc. Ratings analysts highlighted that the Group comprises Sterling Bank, Sterling…

Femi Otedola Stake in First Holdco Rises with N1.21bn Shares Purchase First HoldCo Chairman Femi Otedola, has increased his stake in the oldest financial institution listed on the Nigerian Exchange (NGX), purchased 39,313,379 units valued at ₦1.21 billion. Data from the Nigerian Exchange shows First Holdco is trading negatively during intraday session, down by 48 basis points due to negative investors’ sentiment. In a regulatory disclosure, First Holdco told the Nigerian Exchange on Thursday that the new transaction, at a share price of ₦31 per unit, was executed in Lagos on September 23, 2025, under the identification code NGFBNH000009. Anchoria…

China to Build Africa’s First Insulin Plant in Nigeria The Chinese Ambassador to Nigeria, Yu Dunhai, has announced his country’s plans to build Africa’s first local insulin production facility in Nigeria. Yu disclosed this on Wednesday in Abuja at a reception marking the 76th anniversary of the founding of the People’s Republic of China. He said that this would transform blood glucose levels management, prevent diabetes-related complications, and end the country’s reliance on imported insulin. “Chinese companies are in talks with Nigeria to build Africa’s first local insulin production facility, potentially ending Nigeria’s reliance on imported insulin and positioning Nigeria…

New Marine Policy: FG Targets Lower Logistics Costs, Trade Competitiveness – Oyetola The Federal Government has unveiled a new National Marine and Blue Economy policy, designed to cut logistics costs. The policy is also designed to boost trade competitiveness and attract private sector investment into the transport and maritime sectors. The Minister of Marine and Blue Economy, Mr Adegboyega Oyetola, disclosed this at the 2025 Transportation Correspondents Association of Nigeria (TCAN) Annual Summit on Wednesday in Lagos. Oyetola, represented by the Director, Maritime Services, Department of Marine & Blue Economy, Dr Mercy Ilori, explained that the policy would provide a…

PenCom Releases Guidelines on Foreign Currency Pension Contributions The National Pension Commission (PenCom) has released guidelines on Foreign Currency (FCY) pension contributions, as part of the pension revolution 2.0, for stronger pension and stronger Nigeria. The announcement was made by the Director General (D-G) of PenCom, Omolola Oloworaran on her X (Twitter) handle in Abuja on Wednesday. She said that PenCom was embarking on a wave of rolling out new initiatives daily to enable setting higher standards across critical pillars of the pension endeavour. Oloworaran said that the FYC guidelines provide a pension arrangement under the Contributory Pension Scheme (CPS),…

U.S. Might End Effort to Resolve Ukraine Conflict, Impose New Sanctions U.S. Secretary of State Marco Rubio said on Tuesday that at some point the United States (U.S.) might end its effort to resolve the Ukraine crisis and impose new sanctions on Russia. “We are the only ones that can talk to Ukraine and Russia, and everyone has encouraged us to play that role. “At some point that role might end. “President Donald Trump has already repeatedly expressed his deep disappointment at the direction that Russian President Vladimir Putin is taking this, even after Alaska. “And at some point, he…

WHO Responds to Trump’s Remarks on Paracetamol, Vaccines The World Health Organisation (WHO), has responded to remarks made on Monday by President Donald Trump in Washington, suggesting that paracetamol use in pregnancy may cause autism. Spokesperson Tarik Jasarevic said that while some observational studies had raised questions, many others found no such link, and the evidence overall remains inconsistent. If there were a strong connection, he said, it would have been seen consistently across multiple studies. Jasarevic, in a statement on Tuesday, said that medicines in pregnancy should always be used cautiously and under medical supervision, particularly in the first…