The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that over $185 million and N14.9 billion have so far been released to the Nigerian National Petroleum Company Limited (NNPCL) from the Frontier Exploration Fund, countering recent reports alleging that the regulator withheld the money. The Commission’s Head of Media and Strategic Communication, Eniola Akinkuotu, clarified the development in a statement issued on Monday, stressing that all approved funds had been…

Kwara State is poised to become a key supplier of agricultural produce to Nigeria’s largest consuming market, following the activation of Lagos State’s ₦500 billion Offtake Guarantee Fund to secure long-term commodity supply partnerships. This positions Kwara as a major source for grains, legumes, fish, and other high-demand commodities. The development was recently confirmed at a strategic meeting led by the Commissioner for Agriculture and Rural Development, Afees Alabi, in…

The Lagos State Government has announced a dedicated commitment to developing a world-class, sustainable, and innovation-driven gemstone and jewellery industry, with the ultimate goal of positioning the state as a continental hub. This vision was disclosed by the Special Adviser to the Governor Babajide Sanwo-Olu on Mineral Resources, Abiola Olowu, at the 2025 Gemstone and Jewellery Conference and Exhibition (GGCE) at the Oriental Hotel. READ ALSO: Lagos APC slams ADC over…

The Minister of Information and National Orientation, Mohammed Idris, has urged the Institute of Chartered Accountants of Nigeria (ICAN) to support the economic reform agenda of the President Bola Tinubu administration. The minister made the appeal on Friday during a courtesy visit by an ICAN delegation led by its President, Haruna Yahaya, at the Radio House in Abuja. Idris called on ICAN to champion the cause in your financial and…

Governor Lucky Aiyedatiwa of Ondo State has declared that the state has reached a defining moment in its economic journey. He stated that the state is now fully prepared for global investment, large-scale expansion, and international competition. The governor made the declaration while speaking at the Johnvents Group 2025 End-of-Year Celebration held at The Dome in Akure yesterday. READ ALSO: Aiyedatiwa swears in new advisers, DG PPIMU, inaugurates law commission Aiyedatiwa…

The Governor of Rivers State, Siminalayi Fubara, has stated that he intends to make the state an investment hub. He made this statement while receiving Aisha Rimi, the Chief Executive Officer/Executive Secretary of the Nigerian Investment Promotion Council (NIPC), along with the management and staff of NIPC, at the Government House in Port Harcourt. READ ALSO: Fubara condemns ‘engineered’ media narratives, reaffirms Rivers state’s safety In a statement obtained by the…

The Central Bank of Nigeria (CBN) on Thursday delivered an optimistic outlook for the country’s economy in the second half of 2025 during a statutory briefing to the Senate Committee on Banking, Insurance, and Other Financial Institutions. The committee, chaired by Senator Adetokunbo Abiru (Lagos East), commended the apex bank for what it described as a clear upward trajectory since the beginning of the year but urged its leadership to…

Vice President Kashim Shettima has identified Imo State as a major pillar in Nigeria’s economic diversification agenda, declaring it a new growth frontier primed for rapid development in key sectors. Speaking on Thursday at the Imo State Economic Summit 2025 in Owerri, Shettima said the state is ready for rapid growth in technology, gas utilisation, agro-industrial processing, and small and medium-scale enterprises (SMEs). He stressed that national prosperity is only…

The Central Bank of Nigeria (CBN) has increased cash withdrawal limits on all channels to N500,000 weekly for individuals and N5 million for corporates. This was announced in a circular on Tuesday as the apex bank pegged automated teller machine (ATM) withdrawals at N100,000 daily, with a weekly cumulative withdrawal of N500,000. The CBN said the cash-policy update is part of a broader push to lower cash-handling costs, improve public…

Vice President Kashim Shettima has called on state governments, federal ministries, departments and agencies (MDAs), and the organised private sector to intensify efforts in advancing Nigeria’s business environment. Speaking yesterday in Abuja at the Presidential Enabling Business Environment Council (PEBEC) Gala and Awards Night, he acknowledged the year’s successes as a “triumph of collaboration over silos”. He stressed that the collective commitment of all 36 states, MDAs, and other stakeholders…

The Lagos State Commissioner for Tourism, Arts and Culture, Toke Benson-Awoyinka has unveiled the 2025 “Light Up Lagos” Festive Illumination. The initiative, sponsored by Nigerian Breweries Plc, aims to enhance the state’s beauty and stimulate tourism during the Yuletide season. The unveiling ceremony took place at the Chief Obafemi Awolowo Monument on Obafemi Awolowo Way, Ikeja. READ ALSO: Lagos not for ‘political apprentices’, APC tells ADC The commissioner, represented by Olajumoke…

Vice President Kashim Shettima has welcomed an offer from India’s Schoolnet India Ltd & Learnet Skills Ltd to partner with Nigerian public and private entities to introduce its KYAN smart class solutions in the nation’s schools. Shettima, who received the delegation led by Managing Director/CEO RCM Reddy on Monday, described the project as potentially very beneficial for primary and secondary schools, provided it is “domesticated with local content.” The KYAN…