News Rider

BY CHIKA OKEKE, Abuja Joseph Tegbe The Minister of Power, Joseph Tegbe has revealed that reforms in Nigeria’s power sector created bankable offtake projects, contract sanctity and regulatory certainty that attracted investment.  He also identified affordability as a security issue and called for an orderly and just global energy transition that takes into account the circumstances of individual countries. Tegbe disclosed this while delivering a keynote address at the 50th edition of the Middle East Energy 2026 Leadership Summit in Dubai, with the theme: "Energy Security and the Effect of Geopolitics."  The Minister stated that Nigeria with over 200 trillion cubic feet of proven gas reserves and two-decade record of reliable LNG supply to Europe and Asia, positioned the country as an important player in the global energy security conversation. He likened the Electricity Act 2023 as the most far-reaching reform of Nigeria’s power sector, adding that it ended the lon...

BY CHIKA OKEKE, Abuja An entreprenuer has set a target of providing 100,000 direct factory jobs for women within the first five years, while expanding to 400,000 women nationwide. National Coordinator of Mama’s Manufacturing Company, Mrs Chinwe Obi stated this on Tuesday during the unveiling of 'Mama Pay' empowerment programme in Abuja.  The initiative was designed to increase women’s participation in manufacturing through training, ownership opportunities, raw-material supply chains and product distribution networks across Nigeria. Obi stated that the programme would promote local production by sourcing about 80 per cent of its raw materials within Nigeria to strengthen domestic industries. She noted that the company would produce food, beverages, beauty, hygiene and household products, with factories established across states based on availability of raw materials. The Coordinator hinted that the programme would also provide business and technology training to wom...

BY CHIKA OKEKE, Abuja The Federal Government has revealed plans to strengthen rail and water transportation to lower logistics costs,  reduce pressure on roads and improve safety.  Currently, about 98 per cent of Nigerians depend on road transportation, making it imperative to expand other means of transportation.  The Permanent Secretary, Federal Ministry of Transportation, Mr Olufunso Adebiyi stated this on Tuesday in Abuja, at the ongoing 19th National Council on Transportation, with the theme: "Developing Effective Transportation System for Nigeria: The Role of Integrated Transportation.” He listed ongoing efforts to expand the railway network, adding that moving containers by rail from ports to inland destinations would reduce the number of heavy-duty vehicles on major highways, as well as road deterioration and accidents. Adebiyi, who is also the Chairman of the council’s technical session, noted that the government is also improving port infrastructure ...

BY CHIKA OKEKE, Abuja A global technology company, Zoho has laid out plans to empower 25,000 eligible Micro, Small and Medium Enterprises, MSMEs, within the Small and Medium Enterprises Development Agency of Nigeria, SMEDAN, ecosystem with wallet credits approximately N20 billion, giving businesses access to its portfolio of cloud-based applications. The initiative is designed to assist Nigerian small businesses improve productivity, formalise their operations, expand market reach and strengthen competitiveness through technology. Country Head, Zoho Nigeria, Kehinde Ogundare said on Tuesday in Abuja, that the firm has entered into a partnership agreement with SMEDAN to accelerate digital adoption among MSMEs across the country. The partnership aligns with SMEDAN’s GROW Nigerian strategy, which focuses on formalisation, access to finance and markets, productivity and digital adoption among MSMEs. He noted that access to technology alone was not enough, harping on the need to...

BY CHIKA OKEKE, Abuja Minister of Housing and Urban Development, Engr. Muttaqha Rabe Darma, 4th L; presenting a key to one of the beneficiaries ,M, of the 129 housing units; while the Managing Director/Chief Executive of FMBN, Shehu Usman Osidi, 4th R, and others watch with keen interest at the Nasarawa Technology Village, Karu, Nasarawa State recently. The Federal Government has presented keys to 129 beneficiaries of Federal Mortgage Bank of Nigeria ,FMBN-funded homes at the Nasarawa Technology Village, Karu, Nasarawa State.  Comprising three-bedroom bungalow, the beneficiaries, who contributed to the National Housing Fund, NHF, secured the  completed 129 housing units through the Rent-to-Own Scheme of the Bank.  Handing over the keys on Tuesday,  Minister of Housing and Urban Development, Engr. Muttaqha Rabe Darma said that the exercise demonstrated the need for strategic partnership between the stakeholders.  ‎He stated that out of 651 beneficiari...

BY CHIKA OKEKE, Abuja Taiwo Oyedele Nigeria's economy advanced toward the government's target of attaining $1 trillion by 2030, highlighting the benefits of fiscal reforms.  Given the accelerated growth, the Gross Domestic Product ,GDP, rose by 4.43 per cent year-on-year in the second quarter of 2026, up from 4.23 per cent in Q2 2025 and 3.89 per cent in Q1 2026.  The strong Q2 2026 outturn lifted real GDP growth for the first half of 2026 to 4.16 per cent, up from 3.68 per cent in the corresponding period of 2025, a clear signal of sustained strengthening across the economy. But in Q2 2026, 27 economic subsectors recorded real growth above 3.0 per cent, up from 23 subsectors in Q2 2025, indicating that expansion exceeded beyond the industries. The productive sectors led the way as manufacturing grew by 3.24 per cent, more than double the 1.60 per cent recorded in Q2 2025, reflecting improved industrial output.  Agriculture expanded by 4.39 per cent, up from 2...