Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has announced that 80 per cent of the capital component of Nigeria’s 2024 budget has so far been released. Edun disclosed this after a closed-door session with the House of Representatives Committee on Appropriation in Abuja on Wednesday. The session, also attended by the …
Africa’s economic sovereignty is again under the spotlight following former President Olusegun Obasanjo’s warning against over-reliance on the International Monetary Fund (IMF) and World Bank. The ex-president’s comments, made at the Intra-Africa Trade Fair in Algeria, have sparked widespread debate, drawing reactions from economists, civil society actors, and ordinary Nigerians. “The World Bank is not …
President Bola Tinubu has directed the Minister of Works, David Umahi, to reserve all Nigerian National Petroleum Company (NNPC) Limited tax credit road contracts below N20 billion exclusively for indigenous contractors. The order restricts the minister from awarding any of such projects to expatriate firms. Umahi made this known in a statement, hinting that the …
The Pension Transitional Arrangement Directorate (PTAD) has received Presidential approval to include key pension initiatives in the 2026 budget proposal, aiming to improve welfare for Defined Benefit Scheme (DBS) pensioners. The approved items include: Full implementation of the N32,000 pension increment Settlement of unfunded pension liabilities Proposed pension harmonisation policy Health insurance coverage for DBS …
Ethiopia on Tuesday inaugurated the Grand Renaissance Dam, Africa’s largest hydroelectric project, aimed at boosting its economy, ending frequent blackouts, and supporting the growth of electric vehicles. The country has already banned the importation of gasoline-powered vehicles. As waters from the reservoir powered the turbines, Ethiopians dressed in colourful regalia gathered in Addis Ababa to …
In a bid to ease growing concerns among Nigerians, the federal government has announced a delay in the implementation of the new tax law, including the controversial 5% fuel surcharge, until January 1, 2026. Finance Minister Wale Edun made this revelation on Tuesday, attempting to quell fears of an even greater strain on household budgets …
PZ Cussons Nigeria Plc has made a comeback to profitability, posting a ₦10.07 billion profit after tax; however, the company remains in a debt obligation with negative net assets, which puts its financial position at risk. A review of the company's audited financial statements for the year ended May 31, 2025, shows PZ Cussons remains …
The National Union of Petroleum and Natural Gas Workers (NUPENG) has vowed to press ahead with its nationwide strike following the breakdown of a conciliation meeting convened by the Minister of Labour and Employment, Muhammad Dingyadi, to resolve the dispute between the union and the Dangote refinery. The meeting, which was held on Monday, ended …
President Bola Tinubu has approved the termination of the appointment of Fegho John Umunubo as Special Assistant to the President on Digital and Creative Economy in the Office of the Vice President. The announcement was contained in a statement issued on Monday, September 8, 2025, by Abiodun Oladunjoye, Director of Information and Public Relations at …
The global Islamic fintech sector is on a swift upward trajectory. According to the 2022 Global Islamic Fintech (GIFT) Report, the market witnessed transaction volumes of around $79 billion in 2021, with projections to reach $179 billion by 2026—an annual growth of approximately 18%. While key Islamic fintech hubs currently include Saudi Arabia, Malaysia, UAE, Turkey, …
