News Rider

BY CHIKA OKEKE, Abuja The Gemstones Miners and Marketers Association of Nigeria (GMMAN) has disclosed that Nigeria lacks skilled workers for the commercial development of  Gemstones. This was even as the association identified inadequate facilities for processing such as tumbling, bead making, cabochoning, faceting and jewellery manufacturing as the major challenges hindering the large-scale exportation of gemstones. President of GMMAN, Engr Adeniran Ajibade stated this at an event organised by the  Solid Minerals Directorate of Nigerian Export Promotion Council (NEPC) yesterday in Ibadan with the theme: "Promoting Gemstones Value Addition as a Catalyst for Global Competitiveness”. Ajibade stated that the government training should be continuous, adding that Nigeria’s gem and jewellery products have huge local and international markets. He requested vigorous marketing campaigns, professional branding that links gemstones to cultural and geographic features, establi...

BY CHIKA OKEKE, Abuja As part of its commitment to improving customer experience and expanding access to housing finance for Nigerian workers, the Federal Mortgage Bank of Nigeria (FMBN) has presented symbolic cheques to some staff of the Universal Basic Education Commission (UBEC), who accessed the bank’s Home Renovation Loan (HRL) facility.  ‎ ‎The presentation, which held yesterday at the bank’s Head Office in Abuja, formed part of activities marking the 2026 Customer Service Week, with the global theme: “The Extra Mile.” ‎ ‎Presenting the cheques, the Managing Director/Chief Executive of FMBN, Shehu Usman Osidi described the event as a practical demonstration of the Bank’s commitment to meeting the housing needs of Nigerian workers who contribute to the National Housing Fund (NHF) Scheme. Osidi, who was represented by the  Executive Director, Loans and Mortgage Services, Dr. Muhammad Sani Abdu   commended the beneficiaries for their confidence in FMBN...

BY CHIKA OKEKE, Abuja Determined to strengthen financial inclusion, the African Export-Import Bank (Afreximbank) has unveiled the Africa Credit Rating Agency (AfCRA), designed to expand the continent’s capacity to generate credible and independent analysis of African credit risk. Credit ratings play an important role in determining access to capital, influencing investor perceptions and shaping the cost at which the governments, institutions and businesses can finance development. Senior Executive Vice President of Afreximbank, Mr Denys Denya said that the assessments of African credit risk are independent, rigorous and evidence-based, while reflecting a complete understanding of the structures, institutions and economic realities being assessed. The establishment of AfCRA adds an important African-led source of credit opinion to the market, as its value will not be measured by whether it produces more favourable ratings, but by the credibility of its analysis, the quality ...

BY CHIKA OKEKE, Abuja Ministers and Heads of Federal Government Agencies at a press briefing on ‘Fuel Prices and the Subsidy Question’ in Abuja on Thursday.  The Federal Government has offered a 30-day discount on petrol dispensed by the Nigerian National Petroleum Company Limited (NNPCL), with priority for public transporters nationwide. As petrol price rises nationwide, the Federal Government is optimistic that the discount will ameliorate the plight of Nigerians, proposing a N1,350 per litre on the ex-gantry or landing cost of petrol, to keep pump prices stable, even as the price is subject to review monthly. Minister of Finance and Coordinating Minister of the Economy, Prof Taiwo Oyedele, who stated this on Thursday while addressing journalists on ‘Fuel Prices and the Subsidy Question’, in Abuja, insisted that global crude or the exchange rate should not impact on pump prices. The minister announced ten measures to ameliorate the high burden of fuel prices on Nigeri...

BY CHIKA OKEKE, Abuja The Chief Executive Officer, Nigerian Economic Summit Group (NESG) Dr Tayo Adeloju has challenged the Federal Government to convert recent economic reforms into investment, productivity, jobs and shared prosperity. He stated this on Thursday in Abuja, while addressing newsmen on the forthcoming summit with the theme: “Growth that Works: Delivering Jobs, Productivity and Shared Prosperity”. Adeloju disclosed that the reforms, including subsidy removal, exchange-rate unification, fiscal restructuring and bank recapitalisation, helped to restore macroeconomic stability. He hinted that stabilisation is necessary but insufficient, harping on the need to translate reforms into productive investments, increased productivity and decent jobs. Nigeria still faces high production costs, infrastructure deficits, low productivity and insecurity, while over 90 per cent of employment remains informal. The 32nd edition of NES would focus on five priorities such as: ‘W...

BY CHIKA OKEKE, Abuja CGC Adewale Adeniyi The Nigeria Customs Service (NCS) has backed the attainment of Nigeria’s ambition to build a $1 trillion economy with the ongoing modernisation reforms, including the deployment of B'Odogwu, the Authorised Economic Operator (AEO) programme and the Advance Ruling mechanism. Comptroller-General of Customs (CGC), Adewale Adeniyi, who stated this on Thursday at the New Nigeria Festival in Abuja, said that the service had moved beyond ideas and discussions to taking practical steps to achieve the target.  He noted that Customs modernisation projects were designed to facilitate legitimate trade, improve predictability in the trading environment and ultimately strengthen revenue generation. “Execution is nothing if it is not concrete. We have to move from ideas to action and ensure that whatever we plan translates into results. That is how we can begin to see the kind of transformation we are talking about.” he added.  The CGC inf...