By Esther Ososanya The National Sugar Development Council (NSDC) has signed fresh agreements with four major operators to roll out large-scale greenfield projects expected to produce 400,000 metric tonnes of sugar annually. This is one of Nigeria's boldest industrial pushes in decades to protect its economy and cut the massive foreign exchange drain from sugar …
By Esther Ososanya Commercial drivers in the Federal Capital Territory are raising the alarm over worsening inconsistencies in fuel prices across filling stations, warning that the rising costs paired with passenger resistance to fare hikes are crippling their daily income and pushing many closer to financial collapse. For the past five days, the capital city …
By Esther Ososanya The Pension Transitional Arrangement Directorate (PTAD) has disbursed ₦5,119,328,000 in outstanding pension arrears to 90,689 pensioners across its four pension departments. The payment aligns with PTAD’s mandate to clear liabilities and ensure timely settlement of entitlements. A statement issued Monday by Olugbenga Ajayi, Head of PTAD’s Corporate Communications Unit, revealed the payment …
By Esther Ososanya Nvidia and AMD have agreed to give the U.S. government 15% of revenue from sales to China of advanced computer chips, a U.S. official said on Sunday, in an unusual move likely to unsettle U.S. companies. U.S. President Donald Trump's administration halted sales of H2O chips to China in April, but Nvidia …
By Esther Ososanya Global equities gained on Monday as traders positioned for a pivotal U.S. inflation report. The data could sway the dollar, Treasury yields, and interest rate bets. MSCI’s world share index rose close to its late-July record, driven by strong U.S. earnings and a 0.3% lift in Europe’s STOXX 600. Economic and Geopolitical …
By Esther Ososanya The Nigeria Sovereign Investment Authority (NSIA) has formally handed over the management of the Presidential Fertiliser Initiative (PFI) to the Ministry of Finance Incorporated (MOFI), capping nearly a decade of what industry watchers describe as one of the country’s most transformative farm input programmes. Launched in 2016 to fix chronic inefficiencies in …
By Esther Ososanya Group urges FG to act like Senegal, Kenya, South Africa as tobacco-related deaths, youth addiction rise Nigeria is losing over ₦526 billion annually to the treatment of tobacco-related diseases and productivity losses, even as 30,000 citizens die every year due to smoking and tobacco use, according to data presented by the …
By Esther Ososanya U.S. President Donald Trump is set to sign an executive order Thursday that will pave the way for Americans to invest in alternative assets, including private equity, real estate, and cryptocurrency, through their 401(k) retirement plans, according to a senior White House official. The move could unlock access to the $12 trillion …
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 …
