News Rider

BY CHIKA OKEKE, Abuja The Federal Government has intensified push for Nigeria’s bilateral energy deals, with a fresh commitment to translate the government engagements into commercially viable projects, strategic investments and sustainable development.  Minister of State for Petroleum Resources (Gas), Mr Ekperikpe Ekpo stated this during a high-level engagement with global energy companies and investors on gas production, infrastructure development, Liquefied Natural Gas, LNG, expansion, industrialisation and market diversification at Gastech 2026 in Bangkok, Thailand. The engagements were aimed at translating Nigeria’s 215.19 trillion cubic feet of proven gas reserves into economic growth, industrial development and job creation, to attract investment, technology and strategic partnerships into Nigeria’s gas sector. “Nigeria is open for business. We have put in place the right fiscal policies and operating environment, and the security of investors and their investmen...

BY CHIKA OKEKE, Abuja Olayemi Cardoso The Central Bank of Nigeria has crashed the benchmark interest rate to 23 percent from 26.5 percent, signifying a three percent reduction from the last interest rate.  CBN Governor, Olayemi Cardoso disclosed the decision on Tuesday at the end of the Monetary Policy Committee ,MPC, 307th meeting in Abuja. He said: "The Committee decided as follows: reset the monetary policy rate at 23 per cent." This followed consecutive decreases in Nigeria’s inflation rates, just as the current inflation rate marked its third decline after three consecutive monthly increases. Cardoso pointed out that the committee examined recent trends in the global and domestic economic environment, considered emerging risks to the outlook and evaluated their potential for monetary policy. The Consumer Price Index ,CPI, report released by the National Bureau of Statistics ,NBS, highlighted that Nigeria’s headline inflation rate eased marginally to 15.39 per...

BY CHIKA OKEKE, Abuja  The Minister of State for Works, Rt. Hon. Bello Muhammad Goronyo has sought more partnership with the Nigerian Bar Association ,NBA, on contractual agreement that would speed-up the implementation of infrastructure projects. Goronyo, who stated this when he received a delegation from the NBA on Tuesday in Abuja, informed that the Ministry's activities are closely linked to the legal profession, as roads and other infrastructure projects require sound contractual and legal frameworks. He said: "There is no contract that can be awarded without an agreement, and there cannot be an agreement without the possibility of disputes. We therefore need to leverage our relationship and ensure that we utilise what we have so that together we can build a prosperous nation." Goronyo hinted that the Ministry led by the Minister of Works, Engr. David Nweze Umahi is committed to supporting President Bola Ahmed Tinubu in advancing the Renewed Hope Agenda t...

BY CHIKA OKEKE, Abuja Engr Joseph Tegbe The Federal Government has insisted that there are no plans to increase electricity tariff or withdraw electricity subsidies from next year despite the prolonged power crisis that had crippled the manufacturing and other informal sectors of the economy. Rather, the government’s immediate priority is to improve electricity supply and ensure that Nigerians get better service without imposing additional financial pressure on consumers. Minister of Power, Engr. Joseph Tegbe, who stated this at a press briefing on Monday in Abuja to mark his first 100 days in office, assured that the government would continue to work towards improving power generation, transmission and distribution to provide more reliable electricity across the country. He said: “There is no policy by this administration to increase electricity tariffs beyond its current level. Our priority is not on tariff increase in the immediate term. Our priority is service improveme...

BY CHIKA OKEKE, Abuja TAJBank Limited has won the 2026 Global Islamic Finance Awards, GIFA, Championship Award (Digital Banking) in the United Kingdom. The Managing Director of the Bank, Mr Hamid Joda also clinched the 2026 Islamic Banker of the Year award. GIFA Chairman, Prof. Humayon Dar said on Monday in Abuja that the award was conferred on the bank given its sustained commitment to Islamic banking best practices and people-oriented strategies in deepening non-interest products and services at the grassroots. GIFA group is a global organisation that promotes social responsibility, Shari’a authenticity, and commitment to Islamic banking and finance. He noted that the awards were conferred after various considerations by the organisation’s committee and careful deliberations which decided in favour of TAJBank, adding that the considerations were based on various factors outlined in the GIFA Methodology. Joda described the awards bestowed on him and TAJBank as a call for r...

BY CHIKA OKEKE, Abuja Sahara Group has advocated sustained investment in energy, infrastructure, industry, agriculture, and enterprise development to unlock Africa’s job market, strengthen competitiveness, and support long-term resilience. The Group Managing Director, Sahara Power Enterprise Group, Dr Kola Adesina stated this at a United Nations General Assembly roundtable on Sustainable Global Investment, Economic Resilience and Climate Financing. He said: “Africa’s most pressing challenge is expanding its productive capacity at scale. We need sustained investment in energy, infrastructure, industry, agriculture, and enterprise development to create jobs, strengthen competitiveness, and support long-term resilience.” Adesina noted that the global investment landscape presented significant opportunities for Africa, adding that foreign direct investment reached approximately $1.6 trillion in 2025, while assets linked to sustainable investment strategies rose to $16.7 trillio...