Business

The Dangote refinery has re-employed the engineers sacked last month during the crisis between it and the Petroleum and Natural Gas Senior Staff Association of Nigeria. Our correspondent reliably gathered that the engineers were now being posted to Borno, Zamfara, Benue and others. The engineers, some of whom were still graduate trainees during their sack, were invited to pick up …

Nigeria walked a fine line between applause and anxiety at the 2025 Annual Meetings of the International Monetary Fund (IMF) and World Bank, as the country’s reform momentum drew commendation from global financiers, while fiscal, debt, and oil-sector concerns triggered calls for vigilance and deeper discipline. The IMF, in its World Economic Outlook and Fiscal Monitor released during the meetings, …

Economists and financial analysts have explained that conflict of interest is the reason why the recent drop in the price of rice attracted mixed feelings from Nigerians and traders. The Chief Executive Officer of the Centre for the Promotion of Private Enterprise, Muda Yusuf, and the Executive Officer of SD & D Capital Management disclosed this in an interview with …

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has announced the launch of the 2025 SMEDAN Pitch Competition. The competition will award N20 million in grants to five outstanding entrepreneurs whose businesses demonstrate innovation, resilience, and sustainable growth. SMEDAN empowers Nigerian entrepreneurs The pitch competition forms part of this year’s National MSME Conference, which aims to promote innovation …

The Minister of Steel Development, Shuiabu Abubakar, says the ministry is exploring a partnership with the Republic of China for the revitalisation of both Ajaokuta Steel Company Limited (ASCL) and National Iron Ore Mining Company (NIOMCO). Mr Abubakar disclosed this at the opening of the 10th edition of Nigeria’s Mining Week, themed ‘Nigeria Mining: From Progress to Global Relevance`, on …

Nigeria is edging toward economic collapse as the Central Bank of Nigeria (CBN) is allegedly unable to honour government promissory notes, legal luminary Afe Babalola has warned. Speaking at a leadership conference in Ado-Ekiti, Babalola said commercial banks have raised alarm that the CBN is refusing to redeem promissory notes issued by the federal government, which he described as a …

The International Monetary Fund (IMF) has excluded Nigeria from its latest list of Africa’s fastest-growing economies, naming Benin Republic, Côte d’Ivoire, Ethiopia, Rwanda, and Uganda among the continent’s top performers. The IMF said the five nations are now ranked among the world’s fastest-expanding economies, driven by sustained policy reforms, fiscal prudence, and strategic investments in infrastructure and manufacturing. Director of …

The International Monetary Fund, IMF, has decried Illicit Financial Flows, IFFs out of Nigeria, noting that it was contributing to the worsening revenue problem of the country. The Managing Director of the global institution, Ms. Kristalina Georgieva, who stated this at the ongoing 2025 Annual Meetings of the IMF and World Bank in Washington DC, promised renewed focus on tracing …

After eighteen years of shutting down its production plant in Port Harcourt and eventual exit from Nigeria, French tyre manufacturing giant, Michelin, is planning a ‘strategic’ comeback to the country. This came to light during TechCabal interview with the Managing Director and Vice President of Sales for Michelin Sub-Saharan Africa, Amaury Vadon. Michelin, which was the leading brand in the …

The senator representing Anambra Central, Victor Umeh, has disclosed that former Anambra State governor and Labour Party presidential candidate, Peter Obi, owns more than 200 shops in the Trade Fair Complex recently demolished by the Lagos State Government. The Lagos authorities had defended the demolition, citing violations of the state’s physical planning and development control regulations. However, speaking during an …