Project to Boost Southern Africa’s Energy Security and Regional Trade By Esther Ososanya Namibia and Botswana plan to build a joint $4 billion oil refinery to cut fuel imports and secure energy supplies for Southern Africa. The refinery will process 60,000 to 100,000 barrels of crude oil per day. It will operate from two sites: …
By Esther Ososanya Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has declared the country “open for business” and ready to welcome global and domestic investors, citing a combination of improved macroeconomic indicators, fiscal reforms, and targeted policy measures under President Bola Ahmed Tinubu’s administration. The declaration, made during a press …
By Esther Ososanya U.S. manufacturers are increasingly turning to artificial intelligence to manage supply chains and protect profit margins as global trade tensions escalate. From unpredictable tariffs under President Donald Trump to sudden export bans, companies are betting on AI to stay lean and agile without overstocking warehouses. For The Toro Company, a Minnesota-based lawnmower …
By Esther Ososanya Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has praised Lotus Capital Limited for its pioneering role in developing the country’s non-interest finance sector, stressing that innovative financing and private-sector collaboration are critical to achieving inclusive economic growth. The development was disclosed in an official press statement …
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 …
