Author: Ogochukwu Ndubuisi

WTC Unveils Export Launch Pad to Boost Nigeria`s Trade Competitiveness The World Trade Centre (WTC), Abuja, on Tuesday unveiled an export launch pad aimed at boosting Nigeria’s competitiveness in global trade. The pad was unveiled by its Vice-President, Mr Ahmed Adelaja, alongside the WTC Abuja Trade Desk shortly after its webinar. The webinar was on “Navigating Global Uncertainties and Breaking Barriers to Growth”, part of its series on `Nigeria`s Trade Competitiveness. Adelaja described the pad as WTC Abuja’s flagship business accelerator, designed to empower Nigerian exporters, particularly small and medium-scale enterprises to compete successfully in international markets. He said that…

Abia, Turkey Plan Investment Summit, Exhibition to Deepen Investment Ties The Abia Government has announced plans to host a Turkey-Abia Investment Summit and Exhibition in a strategic move to boost international trade and attract Foreign Direct Investments (FDI). Dr Green Amakwe, the Special Adviser to the Governor on Investment Promotion and Public-Private Partnerships, disclosed this at a news briefing in Umuahia on Wednesday. Amankwe said that the event would focus on a multi-faceted investment promotion drive to strengthen economic relations with Turkey and other key partners. He described the event as FDI exposition for international and local investors to explore…

Trump Bans Citizens of 12 Countries from Entering U.S. U.S. President Donald Trump has signed a proclamation on Wednesday evening banning citizens of 12 countries from entering the United States. The countries affected are Afghanistan, Myanmar, Chad, Congo, Equatorial Guinea, Eritrea, Haiti, Iran, Libya, Somalia, Sudan and Yemen. Nationals from these countries will be “fully” restricted from entering the U.S., according to the proclamation. Similarly, the entry of nationals of Burundi, Cuba, Laos, Sierra Leone, Togo, Turkmenistan and Venezuela will be partially restricted. The proclamation is effective on June 9, 2025 at 12:01 am EDT (5:01am Nigerian time). Trump said…

GTCO, OANDO Intraday Rally Boost Market Index An intraday rally in GTCO, OANDO Plc, and some other mid-cap stocks boosted the Nigerian Exchange (NGX) All-Share Index, or the market index, on Wednesday. The market opened the trading session on Wednesday strong with some price uptick in banking and oil and gas names in the local bourse. The industrial index is making an uptrend, and stockbrokers anticipated the Nigerian Exchange could actually reach N79 trillion—its highest market cap ever. Apart from banking stocks, which have become attractive at the respective valuation, investors also show interest in Oando. The energy stock has…

Lagos Launches Informal Land Mapping Project Gov. Babajide Sanwo-Olu of Lagos has launched a new land mapping project aimed at identifying and putting informal lands across the state to better use. Sanwo-Olu, who was represented by his Deputy Chief of Staff, Dr Sam Egube, spoke at the handing over of three operational vehicles to the Lagos State Informal Space Management Agency (LASISMA) on Tuesday. LASISMA is the state government agency responsible for managing informal spaces and regulating informal businesses. The governor said that the initiative would help the government to map and define informal land. He added that the open…

FG Begins Payment of N44,000 Minimum Wage Arrears to Ex-Corps Members The Federal Government has commenced the payment of N44,000 minimum wage arrears to former members of the National Youth Service Corps (NYSC). The commencement of the payment fulfills an earlier promise tied to the recent upward review of corps members’ monthly allowance from N33, 000 to N77, 000. The payment applies to those who completed their service before the new allowance took effect earlier this year. Former corps members have taken to X (formerly Twitter) to confirm receipt of the payment, expressing their gratitude and relief. The payment, widely…

Gates Foundation Supports Nigeria with $7.5m for AI Scaling Initiative The Gates Foundation has agreed to support the Federal Government with  $7.5 million for Nigeria’s Artificial Intelligence (AI) Scaling Hub, a new initiative. This would accelerate the development and scale-up AI-driven solutions to improve lives and expand opportunities across key sectors such as health, agriculture, and education. The Special Adviser of Media and Communications, Ministry of Communications ,Innovation and Digital Economy, Isime Esene, made this known in a statement issued in Abuja on Tuesday. Esene said that the announcement was made during the Scaling Hub signing of Memorandum of Understanding…

Big Banks’ Stocks Drive Intraday Rally in Equities Market Investors’ buying interest in big bank stocks is currently pushing the Nigerian Exchange (NGX) All-Share Index (ASI) up north, trading details from the local bourse show. The market is gaining and sustaining the bullish momentum that started on Monday. The equities market capitalisation surged by about N173 billion, and it appears investors are not done. During the intraday trading session. Stockbrokers are executing a series of buy orders—most of the Tier-1 bank stocks are driving the intraday growth due to their sizes. The market also sees interest in Nigerian Breweries, including…

Naira Extends Rally as CBN Bridges FX Liquidity Gap Staying strong against the dominant US dollar, the naira appreciated in the official foreign currency market as the Central Bank of Nigeria (CBN) continue to close the gap between demand and supply. According to data obtained from the CBN platform, the naira rose against the US dollar by 29 basis points to close at N1581 on Monday after $120 million FX injection last week. The USD/NGN pair fluctuated between $/₦1,579.00 and $/₦1,584.00, resulting in a 29-bps gain for the Naira, which settled at $/₦1,581.5866 by the close of the session. “Barring…

Germany Crackdown on Migration as Court Blocks Asylum Move The German government’s move to turn away asylum seekers at the country’s borders is unlawful, a Berlin court ruled on Monday. The urgent decision by the Berlin Administrative Court is a blow to Chancellor Friedrich Merz, who has pledged to crack down on migration. Shortly after taking office in April, Interior Minister Alexander Dobrindt ordered border checks to be stepped up and advised police to turn back irregular migrants, even if they applied for asylum. In the first case to emerge over the controversial move, the court ruled in favour of…