Author: Ogochukwu Ndubuisi

Fuel Price Changes Driven by Market Forces – NMDPRA The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says fluctuations in fuel pump prices are a direct result of market dynamics under Nigeria’s deregulated downstream petroleum sector. The authority’s spokesperson, George Ene-Ita, said this in an interview with the News men in Abuja while reacting to the recent increase in fuel pump prices linked to the ongoing Middle East crisis. Many motorists in Abuja have expressed concern and dissatisfaction over the recent hike in prices of Premium Motor Spirit (PMS) called fuel, which were previously sold between N875 and N880…

Abia State Turnaround: How Alex Otti Is Changing the Narrative For many years, Abia State was often mentioned in conversations about untapped potential. Rich in entrepreneurial energy and known as the home of Aba’s famous commercial hub, the state had long been seen as a place capable of much more than it delivered. Today, however, a new narrative is emerging, driven by bold governance, infrastructure renewal, and a renewed sense of possibility under Governor Alex Otti. Since assuming office in 2023, Otti has positioned his administration around a clear message: restoring confidence in governance and rebuilding the foundations of economic…

Moniepoint Powers Small Businesses, Transforming Nigeria’s Financial Landscape In markets across Nigeria, from the busy streets of Lagos to small trading clusters in rural towns, millions of everyday transactions now pass through a small but powerful device: the Point-of-Sale terminal. Behind many of those payments is Moniepoint Inc., a company that has grown rapidly to become a central force in Nigeria’s digital finance revolution. Founded in 2015 by Nigerian entrepreneurs Tosin Eniolorunda and Felix Ike, Moniepoint began as a modest financial technology startup. Today it stands as one of Africa’s most influential fintech companies, providing payment services, banking infrastructure, and…

SEREC Urges Review of NPA Tariff Increase The Sea Empowerment and Research Centre (SEREC) has urged a review of the recent tariff increase by the Nigeria Ports Authority (NPA). SEREC’s Head of Research, Eugene Nweke, made the call in a statement on Friday in Abuja. The NPA announced that, from March 1, U.S. dollar-denominated rates would be adjusted biennially. The adjustment will follow the Consumer Price Index for All Urban Consumers for the U.S. city average, covering all items. The index uses 1982 as the base year for measuring price changes, calculated from the average of the previous two years.…

Strait of Hormuz: 3000 Vessels Stranded in Middle East -IMO The International Maritime Organisation (IMO) says no fewer than 3,000 vessels and 20,000 seafarers are stranded in the Middle East over the ongoing war by the U.S. and Israel against Iran. The crucial Strait of Hormuz global shipping corridor marking the entrance to the Persian Gulf is essentially closed due to the threat of strikes from Iran, and elsewhere, the IMO declared. IMO Secretary-General Arsenio Dominguez warned of the global “knock-on” effect from the closure of the sea lane responsible for 20 per cent of the world’s oil. Dominguez disclosed…

The Federal Government (FG) is to establish a digital registry for radiographers and strengthen regulatory oversight to eliminate quackery in the profession and improve regulation in Nigeria’s diagnostic healthcare services.

NGX Index Surges as Nestle Nigeria, Stanbic IBTC Rally The Nigerian equities market closed Thursday’s trading session on a positive note as the All-Share Index (ASI) advanced by 18bps, amidst gains in high-cap stocks like MTNN, NESTLE, amongst others. However, market breadth closed negative, with 32 stocks gaining and 37 declining. In today’s market session, gains in NESTLE (+4.84%), STANBIC (+5.56%) and MTNN (+0.63%) were notable drivers of the market’s upbeat outcome, offsetting declines in DANGSUGAR (-7.10%) and JAIZBANK (-7.41%). However, the market breadth closed negative at 0.84x, as the session produced more laggards (38) than gainers (32). ETERNA (+10.00%)…

Quest Merchant Bank Limited has successfully fulfilled the ₦50 billion minimum capital requirement mandated by the Central Bank of Nigeria (CBN) for merchant banks.

The Nigerian Exchange (NGX) ended its recent positive streak on Wednesday, with the All-Share Index (ASI) declining 0.08% to 196,463.22 points, bringing the year-to-date return to 26.25%.

AEDC, NEDC Partner to Roll Out solar Mini-Grids The Abuja Electricity Distribution Company (AEDC), through its subsidiary, the Niger Electricity Distribution Company (NEDC), will collaborate with the Niger Government to deploy solar mini-grids and other renewable energy solutions. Mr Omede Odekina, Brand Marketing and Corporate Communications, NEDC stated this in a statement in Abuja on Tuesday. Odekina said that NEDC welcomed the commendable efforts of the Niger government, under the leadership of Gov. Mohammed Bago, to deploy solar mini-grids and renewable energy solutions to previously unserved and underserved communities across the state. He noted that the initiatives included the provision…