Author: Ogochukwu Ndubuisi

Fuel Price Uncertainty Forces Marketers to Temporarily Halt Supply — IPMAN The Independent Petroleum Marketers Association of Nigeria (IPMAN) says uncertainty over petrol prices has forced many marketers to halt fresh purchases, leading to the temporary closure of some filling stations. The Zonal Chairman of IPMAN, Western Zone, Chief Oyewole Akanni, disclosed this on Sunday in an interview with the News Agency of Nigeria in Ibadan. Akanni said that the situation was triggered by the suspension of the loading of the Premium Motor Spirit (PMS) at the Dangote Refinery about four days ago. This, he said, forced marketers to source…

President Bola Ahmed Tinubu, GCFR, has signed the Presidential Executive Order (EO) on Virtual Assets Coordination,

CIBN Projects 26.5% MPR Retention The Chartered Institute of Bankers of Nigeria (CIBN) has projected that the Central Bank of Nigeria (CBN) will retain the Monetary Policy Rate (MPR) at 26.5 per cent. The projection comes as the Monetary Policy Committee (MPC) begins its 306th meeting in Abuja on Monday. Dr Dele Alabi, President and Chairman of Council, CIBN, projected in an interview with the News Agency of Nigeria on Saturday in Lagos. Alabi said the expectation was based on the CBN’s inflation-targeting monetary policy framework and recent economic developments. According to him, inflation has neither increased significantly nor declined…

Energy Crisis Remains Nigeria’s Biggest Obstacle to Industrialisation – Emir Sanusi The Emir of Kano, Muhammadu Sanusi II, on Friday said Nigeria’s inability to provide reliable, affordable and sustainable energy remained the country’s greatest obstacle to industrialisation, economic growth and national development. Sanusi stated this while delivering the keynote address at the birthday symposium of former Minister of Power and Chairman of Geometric Power Group, Prof. Barth Nnaji, at the International Conference Centre (ICC), Enugu. He said energy security was directly linked to national development, describing a stable electricity supply as the foundation for economic growth, industrialisation and poverty reduction.…

Lagos Governor Launches Climate Investment Fund Gov. Babajide Sanwo-Olu says the Climate Defence and Catalytic Fund will unlock private investment and strengthen Nigeria’s climate finance architecture for sustainable national development. Speaking through Deputy Governor, Dr Obafemi Hamzat, on Friday, Sanwo-Olu addressed the Climate Finance Leadership and Recognition ceremony in Victoria Island, Lagos. The event also marked the official launch of the Climate Defence and Catalytic Fund and the closing ceremony of the maiden Climate Finance Preparedness Clinic. Sanwo-Olu described the fund as a landmark intervention designed to mobilise catalytic capital, support project preparation, reduce investment risks and accelerate climate-resilient development…

NAICOM Warns Insurers Against Flouting July 31 Recapitalisation Deadline The Chief Executive Officer, National Insurance Commission (NAICOM), Mr Olusegun Omosehin, has warned insurance companies yet to meet the new minimum capital requirements that the July 31 recapitalisation deadline is mandatory and not symbolic. Omosehin gave the warning on Friday in Lagos at the investiture of Mr. Akinjide Oluwarotimi-Orimolade as the 53rd President and Chairman of Council of the Chartered Insurance Institute of Nigeria (CIIN). He said operators who were yet to comply should act with urgency to meet the regulatory requirement. He described the recapitalisation exercise as a key component…

NGX Chair Seeks Capital, Insurance Partnership Chairman of the Nigerian Exchange Group, Dr Umaru Kwairanga, has called for stronger collaboration between Nigeria’s capital market and insurance industry to accelerate economic growth. Kwairanga appealed on Friday during the investiture of Mr Akinjide Orimolade as the 53rd President of the Chartered Insurance Institute of Nigeria (CIIN). He said stronger cooperation between both sectors was essential to mobilise long-term capital, deepen financial inclusion and support Nigeria’s sustainable economic development. According to him, collaboration across Nigeria’s financial ecosystem has become increasingly important as the country pursues inclusive and sustainable economic growth. He urged stakeholders…

Abia, Investors Partner on $145m Solar Manufacturing Plant The Abia government and a consortium of local and foreign investors have intensified efforts to establish a 145 million dollar solar manufacturing plant in the state under a Public-Private Partnership (PPP) arrangement. The proposed facility, to be located at Umuelele in Isiala Ngwa South Local Government Area, is a partnership between the Abia State Government, MD Nwakamma Nigeria Ltd, and Chinese technical partners. Gov. Alex Otti gave the assurance of the state’s commitment to the project while receiving the investors on Thursday in Nvosi, Isiala Ngwa South Local Government. The governor said…

Oyo Govt Approves Over N35bn for Agriculture, Others The Oyo State Government has unveiled a fresh round of multi-billion naira intervention in the agriculture sector, among others. Prince Dotun Oyelade, the state Commissioner for Information and Civic Orientation, disclosed this in a statement on Thursday in Ibadan. Oyelade said the approvals were targeted at strengthening agro-industrialisation, road infrastructure, health facilities, and repositioning sports in the state. According to him, the council meeting approved an interest-free strategic loan of N3billion for an indigenous cassava-processing factory in Ado-Awaye in Iseyin Local Government Area (LGA) He said the factory, which produces cassava flour…

Tantalizers Assures Shareholders of Sustainable Growth Tantalizers Plc has assured shareholders that its return to profitability rests on strong operational foundations designed to deliver sustainable long-term growth and improved investment returns. Speaking at the company’s Annual General Meeting in Lagos on Thursday, Chairman Alhaji Adam Nuru credited the 2025 financial turnaround to carefully executed strategic decisions. Nuru explained the decisions were specifically designed to strengthen operations, reduce execution risks, and position the company for sustained expansion across multiple business segments. He said stronger revenue generation, improved finance income, disciplined cost management and sustained operational efficiency collectively drove the company’s successful…