Author: Ogochukwu Ndubuisi

FG Moves to Operationalise Digital Postcode System The Federal Government has reaffirmed its commitment to the nationwide adoption of the National Digital Alphanumeric Postcode System to improve governance, strengthen service delivery and accelerate Nigeria’s digital transformation. The Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani, said this on Thursday in Abuja at a stakeholder workshop on the operationalisation of the Nigerian Digital Postcode for Ministries, Departments and Agencies (MDAs). Tijani, represented by the Permanent Secretary in the ministry, Mr Nadungu Gagare, described the digital postcode as a critical national digital public infrastructure that would support smarter governance and…

United Capital Forecasts Marginal Rise in June Inflation to 15.95% The Research Department of United Capital Plc has projected a marginal increase in Nigeria’s headline inflation rate to 15.95 per cent in June 2026, from 15.93 per cent recorded in May. The projection is contained in the company’s June research report made available to the News Agency of Nigeria on Thursday in Lagos. According to the report, the expected increase is largely driven by rising prices of some food items, particularly tomatoes, although the impact was moderated by lower prices of Premium Motor Spirit. It said the survey recorded mixed…

Google Projects $90.6bn Economic Boost, Unveils Five AI Initiatives for Africa Google Cloud on Wednesday says its Johannesburg Cloud Region could generate an additional $90.6bn in economic output and support nearly 315,000 jobs by 2030. Maureen Costello, Vice President for UK, Ireland, and Sub-Saharan Africa at Google Cloud, made this known in a statement. According to her, the projection came as the company unveiled five Artificial Intelligence (AI) initiatives aimed at accelerating Africa’s digital transformation through infrastructure, innovation, startup funding and digital skills development. She said the announcements were made at Google’s inaugural Africa Cloud Summit in Johannesburg, which was…

Dangote Cement Pays N3.3 Trillion as Dividend in 15 Years Shareholders of Dangote Cement Plc are set to receive a record dividend of N45 per share for the 2025 financial year, representing a 50 per cent increase over the previous payout and further reinforcing the company’s position as one of the most rewarding investments on the Nigerian capital market. The company has now distributed over N3.3 trillion in dividends to shareholders over the last 15 years, underscoring its unwavering commitment to creating sustainable value for investors The latest dividend announcement reflects the strength of Dangote Cement’s business model, its resilient…

Transcorp Hotels PLC Graduates 16TH Cohort of Business Empowerment Programme for Women Transcorp Hotels Plc, the hospitality subsidiary of Transnational Corporation Plc, has graduated the 16th cohort of its Business Empowerment Programme for Women (BEPW), strengthening its commitment to creating opportunities, empowering communities, and driving inclusive economic growth. The BEPW is one of Transcorp Hotels Plc’s flagship sustainability initiatives, reflecting the Company’s commitment to creating long-term social, economic, and environmental impact. The Corporate Social Responsibility (CSR) programme provides young women with hands-on tailoring training, as well as skills in business, financial management, marketing, and customer service. Established in 2016 in…

Banking and Insurance stocks wiped about N878 billion from the Nigerian equities…

CBN Withdraws Licences of 46 Microfinance Banks The Central Bank of Nigeria (CBN) has revoked the operating licences of 46 microfinance banks (MFBs), citing their failure to meet regulatory requirements for continued operation. In a statement on Wednesday by Hakama Sidi-Ali, acting director of corporate communications, the apex bank said the revocation took effect from July 1, 2026, in line with Sections 12 and 13 of the Banks and Other Financial Institutions Act (BOFIA), 2020. The CBN said the action was approved by Olayemi Cardoso, the apex bank governor, as part of efforts to safeguard the stability of the financial…

Sell pressures in Dangote Cement, Aradel Holdings and other decliners halted Nigerian Exchange

EU Cuts Steel Import Quotas to Protect Industry The European Union Commission has unveiled new steel import quotas to reduce duty-free imports, protect the bloc’s steel industry and boost production capacity. The new rules, which take effect on Wednesday, reduce annual tariff-free steel import quotas by 47 per cent to 18.3 million metric tonnes. They commission also imposed a 50 per cent duty on imports exceeding the quotas across 26 categories of steel products. It said the measures were designed to raise steel production capacity utilisation in the European Union to 80 per cent. The commission said the rules would…

NCC Pushes Faster Fibre Rollout, Says Broadband Key to $1trn Economy The Nigerian Communications Commission (NCC) has urged accelerated Fibre-to-the-Home (FTTH) deployment, saying faster broadband expansion is critical for Nigeria to achieve its $1 trillion economy ambition. The NCC Executive Vice Chairman, Dr Aminu Maida, made the call virtually on Tuesday at the Association of Telecommunications Companies of Nigeria’s (ATCON’s) Critical Conversation Forum on FTTH in Lagos. The forum, organised by ATCON, had the theme: “Addressing Challenges, Strengthening Standards and Ensuring Sustainable FTTH Deployment in Nigeria.” Maida said internet connectivity had become essential for education, healthcare, commerce, governance, financial services…