Wale Edun, Finance Minister The Saudi Arabia’s SALIC International Investment Company’s acquisition of a 35.43% stake in Olam Agri Holdings for a substantial $1.24 billion, marking a significant boost to Nigeria’s agricultural and livestock sector Minister of Finance Wale Edun made this announcement following a meeting with President Bola Tinubu in Lagos, emphasizing the administration’s commitment to fostering a stable …

First Bank Corporate Headquarters In a bid to reposition and reorganize for a long term growth, First Bank, the Nigeria’s oldest financial institution and a key subsidiary of FBN Holdings, has sacked approximately 100 senior executives. This strategic development is informed by the changes in leadership and governance following billionaire businessman Femi Otedola’s assumption of the chairmanship of FBN Holdings. …

By Simon Kolawole “Nigeria is finished patapata!” Do you often hear that? I have observed over time that there are people who get excited by negative news concerning Nigeria. If the National Bureau of Statistics (NBS) reports that we have recorded a negative GDP growth rate or the economy is heading for a recession, they will be the first to …

The Warri Refining and Petrochemicals Company (WRPC) in the Warri area of Delta State has commenced operations. Mele Kyari,the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), made the disclosure during a tour of the 125,000 barrels per day refinery on Monday, December 30, 2024. This development emerges after the commencement of crude refining by the …

Dr. Odili, former Governor, Rivers State,. Nyesom Wike, Minister, FCT Minister of the Federal Capital Territory (FCT), Nyesom Wike, has fired back at the former Governor of Rivers State, Dr Peter Odili, saying that “an elder statesman should not be a trader and a sycophant all the time.” Wike, who was speaking at the Special Thanksgiving Service organized by Speaker …

Arthur Orizu. By Unwana Sunday The Director, Media & Advocacy, NDLEA, Mr. Femi Babafemi, has announced the arrests of several suspected drugs traffickers in different parts of the country. In a statement, he noted that the agency has arrested a 48-year-old businessman, Orizu Ifeanyi Arthur, while attempting to board an Air France flight 844 from the Nnamdi Azikiwe International Airport, …

By Our reporter The Manufacturers Association of Nigeria has described the closures of factories in Lagos state as “unwarranted and ill-timed,” accusing LASWARCO of disregarding ongoing discussions aimed at resolving the disputed fees. The association called on Lagos State Governor Babajide Sanwo-Olu to reopen factories sealed by the Lagos State Water Regulatory Commission over alleged non-payment of water abstraction fees. …

A wild fire has engulfed the Federal Institute of Industrial Research Oshodi (FIIRO) office, destroying property reportedly worth millions of naira. The fire, which reportedly began around midnight on Christmas Day, continued into the early hours of Boxing Day, prompting a swift response from the Lagos State Fire and Rescue Service. The cause of the fire remains unknown, but it has resulted …

As part of efforts to increase housing opportunities for all Nigerians, the Federal Government has launched a N250 billion Ministry of Finance Incorporated (MOFI) Real Estate Investment Fund (MREIF). According to a statement released by the Ministry of Finance on its X page, the government said the initiative was designed to provide low-cost, long-term mortgage financing and stimulate economic growth …

By our reporter One of the massive projects inaugurated by Governor Seyi Makinde early this month, the 11 megawatts Ibadan Hybrid Power Project, has commenced operation. The Commissioner for Information and Orientation, Prince Dotun Oyelade, in a statement said the whole of the Oyo State Secretariat and its environs, covering all Ministries, Departments, and Agencies, including the Secretariat Clinic, the …