The World Bank has approved three funding operations for Nigeria, totaling $1.08 billion in concessional financing. These initiatives aim to improve quality of education, strengthen household and community resilience, and enhance nutrition for underserved groups. The funding includes $500 million in additional financing for the NIGERIA: Community Action for Resilience and Economic Stimulus (NG-CARES) Program,…
By Adewale Odumosu A major test for the Nigerian judiciary was the March 20, 2025 judgment of Justice Akpan Okon Ebong of the FCT High Court, who struck out a case filed by Mr. Femi Falana SAN, purporting to act on a fiat donated to him by the Attorney General and Minister of Justice of…
The National Horticultural Research Institute (NIHORT) has announced that it will soon release new, pest-resistant pepper varieties to address pepper shortage and soaring prices in the markets. This development comes as a welcome relief to consumers and traders alike, who have witnessed an unprecedented surge in pepper prices. The price of a large bag of…
The Raw Materials Research and Development Council (RMRDC) has urged stakeholders in the rubber industry to support its efforts to review the Act that established the Council. Its Director-General, Prof. Nnayelugo Ike-Muonso, made the call at a one-day investment forum focused on developing and rehabilitating the rubber value chain in Owerri. Represented by the Director,…
The House of Representatives Committee on Public Petitions has opted for alternative dispute resolution on the dispute between the National Identity Management Commission (NIMC) and a private technology company, Truid Limited over payment for services. Chairman of the House of Representatives Committee on Public Petitions, Hon Mike Etaba said the matter has been stepped down…
Bi-Courtney Aviation Services Ltd., operator of the Murtala Muhammed Airport Terminal Two (MMA2), has expressed the hope that the new tax policy and stable forex market in Nigeria will facilitate trade and improve the businesses. The Head of Aeronautical and Cargo Services at Bi-Courtney, Mr Remi Jibodu, expressed the hope in an interview in Lagos….
The Lagos Chamber of Commerce & Industry (LCCI) has warned against the insatiable appetite of Nigeria for loans and it’s poor use of the facilities. Its Director-General, Dr Chinyere Almona in a statement raised concerns about the efficiency of fund allocation and utilization, given that only 16 per cent of previously approved World Bank loans…
Standard Chartered Bank has expressed strong support for Nigeria’s far-reaching economic reforms, describing them as a catalyst for investment inflows and sustained growth. A statement from the Ministry of Finance said the endorsement came during a high-level meeting between a delegation from the bank and the Minister of Finance and Coordinating Minister of the Economy,…
The Minister of Steel Development, Prince Shuaibu Abubakar Audu, has said Nigeria imports about $4 billion worth of steel annually, stressing the need for import substitution to reduce pressure on foreign exchange (forex). Speaking during a visit to the National Steel Raw Materials Exploration Agency (NSRMEA) in Kaduna, Audu described the agency as a cornerstone…
