Skip to main content

Posts

Afreximbank’s Income Rises By 24% To US$813.5m

BY CHIKA OKEKE, Abuja The African Export-Import Bank (Afreximbank) net income has risen by 24 percent to US$813.5 million, compared with US$654.3 million in the corresponding period of 2025, representing improved interest income and disciplined cost management. Delivered for the nine months ended 30 September 2026, the satisfactory financial performance demonstrated resilient growth, sound asset quality and continued support for trade and economic development across Africa and the Caribbean Community (CARICOM). The group’s total assets and contingencies increased by 12 percent to US$54.1 billion, from US$48.5 billion in Fiscal Year 2025. The growth was underpinned by an expansion of the bank’s lending portfolio, with net loans and advances increasing by eight percent to US$36.2 billion, compared to US$33.5 billion at year end 2025. Gross income increased to US$2.7 billion in nine months of 2026, up 11 percent from the prior period, supported by continued balance sheet growt...
Post a Comment
Read more
Recent posts

Foundations Task FG On Transparent Reward System For Vocational Graduates

BY CHIKA OKEKE, Abuja Beneficiaries of Ladi Memorial Foundation (LMF) and Wuye Women Foundation of the Mountain of Fire and Miracles Ministries (MFM) Skills Empowerment Scheme in Abuja. The Ladi Memorial Foundation (LMF), in partnership with Wuye Women Foundation of the Mountain of Fire and Miracles Ministries (MFM) have tasked the Federal Government to establish a transparent reward system for vocational graduates by providing top trainees with starter packs. At the 2026 graduation and exhibition ceremony, organised for beneficiaries of their vocational centre in Wuye, the Executive Director of LMF, Mrs Rosemary Osikoya lamented the high resources spent on political patronage rather than genuine skill empowerment. While seeking more support to empower women with skills, she enjoined philanthropists, government agencies and religious organisations to assist vocational training centres with equipment and training materials. Osikoya disclosed that such support would enable be...
Post a Comment
Read more

Attaining Nigeria’s US$1 trn Economy Depends On SMEs Growth- Oyedele

BY CHIKA OKEKE, Abuja Prof Taiwo Oyedele The Minister of Finance and Coordinating Minister of the Economy, Prof Taiwo Oyedele has disclosed that Nigeria’s ambition to build a US$1trillion economy depended significantly on growing Small and Medium-sized Enterprises (SMEs) into large and globally competitive companies. At the 4th Edition of the Nigeria Sovereign Investment Authority (NSIA) Prize for Innovation (NPI) Demo Day 2026 presentation in Abuja, the minister stated that the Federal Government is addressing financing and capacity constraints limiting business growth. This is carried out through initiatives such as the Development Bank of Nigeria (DBN), National Credit Guarantee Company (NCGC), and Investment in Digital and Creative Enterprises (iDICE) programme. He informed that the NSIA is also supporting venture capital funds to mobilise institutional investments into promising Nigerian businesses, encouraging the finalists to remain ambitious, disciplined and committ...
Post a Comment
Read more

NITDA Advocates Translating Nigeria's Tech Talent Into Global Ecosystem

BY CHIKA OKEKE, Abuja Director General of National Information Technology Development Agency (NITDA), Kashifu Inuwa Abdullahi (3rd L), flanked by others during the Tech Outlook event in Lagos recently . The National Information Technology Development Agency (NITDA) has advocated the need to translate Nigeria’s wealth of technology talent, innovative ideas and entrepreneurial achievements into a globally competitive innovation ecosystem. Director General of NITDA, Kashifu Inuwa Abdullahi, who stated this at the Tech Outlook in Lagos, pointed out that a stronger ecosystem requires reliable digital infrastructure, supportive policies, strategic investments and collaboration among the government, industry leaders, investors and innovators. He noted that NITDA in collaboration with the SATH Foundation, is advancing efforts to strengthen Nigeria’s technology ecosystem through the Nigeria Tech Outlook, an initiative designed to guide investment, inform policymaking and accelerate ...
Post a Comment
Read more

OTO Develops Taxpayers Charter In Indigenous Languages To Improve Awareness

BY CHIKA OKEKE, Abuja Mr John Nwabueze The Office of the Tax Ombud is developing a Taxpayer Charter in indigenous languages such as Hausa, Igbo, Yoruba, Nigerian Pidgin and English to explain taxpayers’ rights and responsibilities, and improve awareness.  Chief Executive Officer (CEO) of OTO, Dr John Nwabueze stated this at a stakeholders’ town hall meeting in Abuja with the theme: “Promoting Fairness in Tax and Revenue Administration in Nigeria.” He noted that the initiative would help taxpayers understand their obligations and available channels for seeking redress, encouraging tax and revenue authorities to apply the law consistently, communicate clearly and treat taxpayers with dignity. To this end, OTO called for fair treatment of taxpayers, transparency and accountability in Nigeria’s tax administration to promote public confidence and voluntary compliance. Nwabueze said that the office is committed to protecting taxpayers’ rights, resolving administrative complai...
Post a Comment
Read more

FG Unveils Draft Economic Policy Framework To Strengthen Investors Confidence

BY CHIKA OKEKE, Abuja Prof Taiwo Oyedele The Federal Government has unveiled a draft Economic Policy Framework, aimed at strengthening investor confidence, promoting policy consistency and driving sustainable economic growth. Minister of Finance and Coordinating Minister of the Economy, Prof Taiwo Oyedele stated this on Monday at the 32nd Nigerian Economic Summit (NES32), with the theme: “Growth that Works: Delivering Jobs, Productivity and Shared Prosperity”, in Abuja. Nigeria’s major economic challenge is not a shortage of development plans but the absence of an enduring economic philosophy and disciplined implementation, even as policy uncertainty imposes an invisible tax on businesses, discouraging investment without generating revenue for the government. Oyedele noted that frequent policy reversals, inadequate consultations and decisions unsupported by credible data had weakened businesses, discouraged investment and limited job creation. The minister hinted that the p...
Post a Comment
Read more

NITDA To Educators: Equip Young People With Practical Digital Skills

BY CHIKA OKEKE, Abuja Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa (7th L), flanked by the Minister of Education, Dr. Tunji Alausa; Cisco West Africa General Manager, Abdulaziz Saeed; and other dignitaries at the English West and Central Africa Instructor Safari Conference in Abuja recently. The National Information Technology Development Agency (NITDA) has tasked educators to move beyond examination-focused teaching and equip young people with practical digital skills that can translate into jobs, innovation and economic growth. Director-General of NITDA, Kashifu Inuwa Abdullahi stated this in Abuja, at the 2026 English West and Central Africa Instructor Safari Conference 2026 in Abuja. He pointed out that the ability to learn continuously, solve complex problems and adapt to technological change determine the success in future workplace. Drawing from his personal experience, the NITDA chief executive, a proud alumnus of...
Post a Comment
Read more