Author: Olu Anisere

FG’s Loan Facilities Viable to Boost Export Trade – NEPC The Nigerian Export Promotion Council (NEPC) has described loan and grant facilities provided by the Federal Government as viable tools to boost export trade. Coordinator of the NEPC in Imo, Mr Anthony Ajuruchi, said this at an engagement forum of non-oil exporters with trade-related agencies, organised by the council, in Owerri, on Wednesday. Ajuruchi said that with support from government agencies, the export market in Imo and Nigeria at large can afford to expand and compete with global markets. He urged exporters in Imo to take advantage of the soft…

FG Declares Nationwide Push to Address Housing Deficit The Federal Government has declared a nationwide broader strategy to reduce Nigeria’s housing deficit. The Minister of Housing and Urban Development, Ahmed Dangiwa made this known while inaugurating the FHA Express View Estate 1 and FHA Complex in Lugbe, Abuja on Tuesday. Represented by the ministry’s Permanent Secretary, Dr Shuaib Belgore, he said the newly commissioned estate was among several housing projects being delivered under President Bola Tinubu’s Renewed Hope Agenda. He said: “This event is not just about cutting a ribbon. It is about showing Nigerians that progress is possible. “The…

Mobile Data: NCC Commits to Consumer Protection, Transparency Dr Aminu Maida, the Executive Vice-Chairman of the Nigerian Communications Commission (NCC), has reaffirmed the organization’s commitment to transparency, accountability, and innovation in regulating the country’s telecommunications sector. Many Nigerians have complained about what they describe as high tariffs and expensive data by telecom providers. Maida said during an interactive session with newsmen on Tuesday in Abuja that the commission was determined to protect the interest of telecom services and mobile data users nationwide. He said that NCC was adopting information disclosure strategies, rooted in behavioural economics to nudge service providers toward…

South Africa Rand Rally on Higher Gold Prices, Economic Data The South African rand traded around 17.6 per U.S dollar in the forex market, closed near its 30-day high of 17.5 against the greenback amidst sharp rally in the gold market. ZAR attraction was spurred by higher gold prices and a weaker US dollar amid economic concerns following U.S tariff and uncertainties relating to geopolitical risks. The local currency gained more than 1% in the last two days, boosted by weaker dollar after U.S reported inflation rate eased, raising investor expectations of an interest rate cut by the US Federal…

Presco Plc to Acquire GOPDC and SOP in $171.64 Million Deal Presco Plc, a listed Nigerian business, is seeking shareholder approval to acquire a 100% equity stake in Ghana Oil Palm Development Company Limited (GOPDC) for $124.93 million and Saro Oil Palm Limited (SOP) for $46.71 million. The acquisition will significantly expand Presco’s operations, increasing its plantation size by 37% from approximately 43,547 hectares to 59,760 hectares. This move will solidify Presco’s position as a leading oil palm producer in Africa. GOPDC, a Ghanaian agro-industrial company, operates two main estates in Ghana’s Eastern Region, spanning around 21,000 hectares of oil…

Insurance Companies Get 12-Month Window for Recapitalisation Nigeria’s insurance operators and reinsurance companies have been given a 12-month deadline to comply with significantly higher capital requirements, following the commencement of the Nigerian Insurance Industry Reform Act (NIIRA) 2025. The new legislation, recently signed into law, represents one of the most far-reaching reforms in the nation’s insurance sector in decades. It repeals several outdated provisions, introduces a modernised risk-based capital framework, and is positioned as a critical driver in the federal government’s ambition to grow the economy to $1 trillion. According to Section 15(6) of Part IV of the Act, insurers…

Airtel Launches WhatsApp Self-Service Platform for Customers Airtel Nigeria has launched a WhatsApp self-service platform, “Airtel Assist,” enabling customers to carry out transactions at any time of day. This is contained in a statement by the Chief Executive Officer of Airtel Nigeria, Mr Dinesh Balsingh, on Thursday in Lagos. Balsingh said the service would give customers quick and easy access to Airtel services without needing to visit a shop or call a customer care line. “With Airtel Assist, we are leveraging technology to serve real people with real needs in real-time. It is fast, secure, and always available”, he said.…

Global Cryptos Market Cap Surpasses $4T, BTC, ETH Rally Global cryptocurrency market capitalisation surpassed $4 trillion again amidst a fresh but strong rally across the top 10 digital assets as a result of an improved sentiment driven by corporate and retail buyers. Trading data showed that the crypto market size inched higher by more than 2% to $4.14 trillion, driven by a monster rally in Bitcoin and Ethereum with support price appreciation in other notable names. Bitcoin briefly touched $124,000 again before it pulled back to $121,000. BTCUSD market cap edged higher to about $2.5 trillion early on Thursday, cementing…

Naira Rises Against Dollar as External Reserves Hits $40.292bn The naira appreciated against the US dollar at the Nigerian Foreign Exchange Market (NFEM) in the absence of significant demand for foreign currency. Spot rate data obtained from the Central Bank of Nigeria (CBN) FX update platform showed that the naira closed at N1534.82, more than N2 gain from N1537.09 quoted for the previous day. Pressure at the official FX market eased sharply. Intraday FX data showed that the naira touched an intraday high of N1536.50, compared with an intraday high of N1543 on the previous day. The market witnessed a…

South Africa to Offer US New Deal to Avoid 30% Tariff South Africa will offer a “generous” new trade deal to the United States on Tuesday to avoid 30-percent tariffs, government ministers said. Washington on Friday slapped the huge tariff on some South African exports, the highest in sub-Saharan Africa, despite efforts by Pretoria to negotiate a better arrangement to avoid massive job losses. The ministers did not release details of the new offer but said previously discussed measures to increase imports of US poultry, blueberries and pork had been finalised. “When the document is eventually made public, I think…