Author: Ogochukwu Ndubuisi

LG Electronics Sets the Mood with Tech That Cools and Colours That Pop As the nation witness a year buzzing with innovation and rising aspirations, LG Electronics is turning up the cool—redefining home living with refrigerators that are smarter, greener, and built to match the rhythm of the modern Nigerian lifestyle. The Nigerian refrigerator market is set to witness a dramatic surge, projected to grow from USD 814.2 million in 2023 to USD 1,777.8 million by 2029, representing a robust 13.9% CAGR, according to a report by StrategyHelix. Urbanization, a rising middle class, and growing disposable incomes are key drivers of this…

Food Security: FG secures $134m loan facility from AfDB -Minister The Federal Government says it has secured a loan facility of 134 million dollars from the African Development Bank (AfDB) to help farmers boost seeds and grain production in the country. The Minister of Agriculture and Food Security, Sen. Abubakar Kyari, made this known at the unveiling of the 2024/2025 National Dry Season Farming in Calabar. Kyari explained that with the reintroduction of the national dry season farming to boost year-round agricultural production, the loan would be handy as well as guarantee national food security in the country. He said…

AFC Backs Mota-Engil Africa with €100m Facility to Boost Gold Mining Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, today announced that it has provided a EUR 100 million, 5-year term facility to Mota-Engil Africa (MEA), the regional arm of the global construction giant, Mota -Engil Group. The funding will support the acquisition of equipment, inventories, and site infrastructure for the execution of three new gold- mining contracts in Côte d’Ivoire and Mali. AFC’s funding will enable Mota-Engil Africa to scale up operations in West Africa’s burgeoning mining sector, where gold remains a critical export commodity and a…

Benchmark Yield Dips as Investors Bet on Nigerian Bonds The benchmark yield on Nigerian government bonds declined as investors raised bets on the naira assets in the secondary market after the Debt Management Office (DMO) monthly auction. Trading activities were tight with some slight bullish undertones observed at the short (-2 bps) end of the curve, as participants made bids for the JAN 2026 (-11 bps) and MAR 2026 (-17 bps) papers. The trading session saw heightened activity following yesterday’s bond auction, where the DMO offered ₦300 billion split into ₦100 billion in April 2029s and ₦200 billion in May…

Tinubu Seeks Senate Approval of 2025-2026 External Borrowing Plan of $21.5bn President Bola Tinubu has sought the approval of the Senate for the 2025-2026 external borrowing plan of 21.5billion dollars. The president also sought the approval of the senate for a loan request of 15 billion Japanese Yen and 51 million Euros grant. Tinubu’s request is contained in a letter addressed to Senate President, Godswill Akpabio and read at plenary on Tuesday. Tinubu in the letter, said” following the removal of the first fuel subsidy and its impact on the national economy, approval is sought for the external building plan.…

AfDB President Lauds Tinubu for Approving $500m for Nigeria Trust Fund Dr Akinwunmi Adesina, President of the AfDB, has commended President Bola Tinubu for approving 500 million dollars replenishment of the Nigeria Trust Fund (NTF) for another 15 years. Adesina gave the commendation at tbe opening of the Africa Development Bank (AfDB) Annual Meetings on Tuesday in Abidjan. “To President Bola Tinubu for your support over the past two years, I’m profoundly grateful. “Thank you for graciously approving the replenishment of the Nigeria Trust Fund for another 15 years for 500 million dollars,’’ Adesina said. NTF was created in 1976…

NEPC Commits to Enhancing Solid Minerals Exportation in Kaduna The Nigerian Export Promotion Council (NEPC) has reiterated its commitment to enhancing solid minerals exportation through the establishment of clusters and aggregation centres in Kaduna State. The Executive Director and Chief Executive Officer , NEPC, Nonye Ayeni, made the disclosure on Tuesday during a strategic engagement on the establishment of solid minerals clusters, aggregation centres and hub for export competitiveness in Kaduna. The CEO, who was represented by Amina Abdulrahman, Regional Co-ordinator, NEPC, stated that the state was blessed with immense potentials on mineral resources, which was faced by numerous challenges.…

Edo Contributes 31% of Nigeria’s Diaspora Remittances The Director-General of the Edo State Diaspora Agency, Dr Loretta Ogboro-Okor, has revealed that Edo State contributes an estimated 31 per cent of Nigeria’s total diaspora remittances. This significant contribution positions the state as a major player in the country’s economic development. In a telephone interview with the News Agency of Nigeria (NAN) on Tuesday, Ogboro-Okor highlighted that out of the estimated 17 million Nigerians living in diaspora, a significant number were from Edo State. “Edo has played a critical role in diaspora contributions since 2017, when the World Bank reported 22 billion…

Tinubu Concerned about Informal Sector Operators’ Wellbeing — FIRS Chair The chairman, Federal Inland Revenue Service (FIRS), Zacch Adedeji, has attributed the drop in Nigeria’s unemployment index to the recognition of informal work by the National Bureau of Statistics (NBS). This was just as he revealed that the well-being of operators of the informal sector concerns President Bola Tinubu, saying workers in the sector account for 92.6 percent of the employed population in the country as of the first quarter of 2023. Speaking on the theme, “Taxation of the Informal Sector: Potentials and Challenges,” at the 157th Board meeting of…

FMBN Records ₦6.5bn Surplus in Q1 The Federal Mortgage Bank of Nigeria (FMBN) on Monday confirmed a ₦6.5 billion surplus in the first quarter of 2025. FMBN Managing Director and Chief Executive, Shehu Osidi, disclosed this while welcoming Dr Nasir Gawuna, who has assumed duty as the new Board Chairman in Abuja. Osidi described the surplus as proof that current management policies are effective and the Bank is moving in the right direction. He added that loan approvals nearly doubled, rising from ₦39.7 billion in 2023 to ₦71.5 billion in 2024, increasing access to housing finance. “Since the Executive Management…