By Esther Ososanya The electricity supply situation in Lagos State has deteriorated following a fire outbreak at the Egbin Power Plant, which damaged a major transformer and disrupted power transmission to several parts of the state, the Transmission Company of Nigeria (TCN) confirmed on Thursday. According to a statement by TCN spokesperson Ndidi Mbah, the …
By Esther Ososanya In a major boost for Africa’s energy sector, the African Export-Import Bank (Afreximbank) has signed a $1.35 billion financing deal with Dangote Industries Limited (DIL). The deal is part of a larger $4 billion syndicated loan to support the Dangote Refinery, Africa’s largest industrial project to date. This agreement will help refinance …
By Esther Ososanya President Bola Ahmed Tinubu has directed the immediate rollout of free healthcare for low-income retirees under the Contributory Pension Scheme (CPS). He described the initiative as a vital part of his administration’s plan to protect vulnerable citizens and uphold dignity in retirement. The President gave the order after receiving a detailed …
By Esther Ososanya The Executive Secretary of the National Sugar Development Council (NSDC), Mr Kamar Bakrin, has issued a clarion call to Nigerian farmers and private investors to take advantage of what he describes as a “golden window” for investment in the country’s sugar industry. Speaking during a courtesy visit by the All Farmers Association …
By Esther Ososanya Senegal’s Prime Minister, Ousmane Sonko, has unveiled a bold national recovery plan; it's believed it could reshape the fiscal future of West Africa. Unveiled in Dakar before cabinet members, policy experts, and civil society groups, the plan introduces sweeping reforms. It targets corruption in the power sector and imposes fresh taxes on …
By Esther Ososanya The Nigeria Customs Service (NCS) has launched a new Handbook on Import and Export Procedures for Renewable Energy Equipment to simplify Nigeria’s trade in clean energy goods and strengthen global partnerships that promote sustainable development. At the official launch in Abuja, Comptroller-General of Customs, Adewale Adeniyi, reaffirmed the agency’s commitment to efficient …
By Esther Ososanya Nigeria imported N146.11 billion worth of motorcycles in the first quarter of 2025, a surprising 24.4% increase from the N117.4 billion spent in the same period of 2024, according to the latest Foreign Trade in Goods Statistics released by the National Bureau of Statistics (NBS). The motorcycles, identified by the NBS as …
By Esther Ososanya The U.S. Federal Reserve may be forced to delay cutting interest rates until at least October after fresh inflation data revealed that tariff-driven price increases are reigniting consumer costs across multiple sectors, complicating the central bank’s battle to restore price stability. The Personal Consumption Expenditures (PCE) price index, the Fed’s preferred inflation …
By Esther Ososanya The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has reaffirmed its support for suppliers and distributors in the petroleum sector, describing their role as vital to Nigeria’s energy security and economic development. Speaking at the Annual General Meeting of the Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) in …
By Rafiyat Sadiq A new directive by the Tanzanian government prohibiting foreign nationals from owning and operating businesses in 15 small-scale sectors has triggered backlash in neighbouring Kenya and renewed concerns over regional trade relations. The sweeping ban affects activities such as mobile money transfers, tour guiding, small-scale mining, crop buying on farms, beauty salons, …
