Nigeria’s foreign reserves has reached $41 billion, highest point since December 2021, sparking cautious cheers in Abuja, the seat of government. To put it simply, foreign reserves are the country’s emergency savings, mostly in dollars, used to pay for imports like fuel, machinery, and food. Hitting this level is a sharp turnaround from late 2024…
A data centre and cloud services provider, Open Access Data Centres Limited (OADC) has further strengthened cloud service offering in the country with the unveiling of its Open Access Fabric (OAFabric) platformin Lagos. The company said the facility is targeted at unlocking secure and seamless cloud access for Nigeria and the continent. OADC, a subsidiary…
MTN Nigeria said it has scheduled its network maintenance to restore services to 15 local government areas (LGAs) in three states in the northern parts of the country. In July 2025, MTN recorded 760 fibre cuts nationwide, bringing the year-to-date total to over 5,478 incidents. These disruptions, primarily caused by road construction and vandalism, continue…
The Nigeria Customs Service (NCS) has started consultations with the Nigerian Shippers’ Council (NSC) to address operational hitches arising from the rollout of the trade automation platform, the Unified Customs Management System, popularly known as B’Odogwu. This consultation is a response to freight forwarders and Licensed Customs Agents concerns over delays, demurrage, and disruptions linked…
Nigeria’s Minister of Marine and Blue Economy, Adegboyega Oyetola, President Bola Tinubu plans to replicate the success story of the Lekki Deep Seaport across Nigeria’s maritime sector, describing it as a model for economic growth and development. Speaking at the Nigerian Chamber of Shipping Breakfast Meeting in Lagos, Oyetola declared that the administration ofTinubu is…
Ondo State Oil Producing Areas Development Commission (OSOPADEC) has said the current 40per derivation allocation fund is no longer sustainable. It therefore called for its increase to 55per cent to enable the commission adequately address the developmental challenges of the state’s oil-bearing communities. Its Chairman, Biyi Poroye, made the demand at the flag-off of the…
After a buzzing month of July, August has been pretty quiet so far in terms of start-up funding announcements on the continent. Africa: The Big Deal report, enough has already been raised to cross the $2 billion mark in start-up funding in Africa (exc. exits). This is a good performance in itself, and means the…
Africa’s leading technology distributor, TD Africa, has attained the ISO 42001 (Artificial Intelligence Management Systems) and ISO 27701 (Privacy Information Management Systems) certifications. These globally recognized certifications, which set the highest benchmarks for responsible AI deployment and data privacy, position TD Africa as a pioneer in preparing Africa for an AI-powered future. Speaking on the…
Nigeria is betting on its Energy Transition Plan (ETP) as a path to net-zero emissions by 2060, prioritizing power, cooking and transport, sectors as focus areas. The Minister of Environment Balarabe Abbas Lawal who gave the assurance the ETP will create hundreds of thousands of new jobs by 2030 and beyond. He said gas plays…
