Business

For decades, Africa has suffered from an odd economic absurdity: a continent geographically contiguous yet financially fragmented; politically independent yet commercially disjointed. It has often been easier for African countries to trade with Europe, clear payments through New York, or secure financing from London than to transact efficiently with one another. Colonial cartography may have […]

The Director General of the Nigerian Maritime Administration and Safety Agency, NIMASA, Dr. Dayo Mobereola, has reaffirmed the Agency’s commitment to advancing regional maritime integration, cooperation and capacity development across Africa.   Dr. Mobereola made this known when he received the Honorary Consul of the Republic of Liberia in Lagos, Mr. Dapo Akinosun, SAN, at […]

The trouble with reform is that eventually it collides with reality. For two years President Bola Tinubu’s administration has sought to convince investors that Nigeria’s oil industry is turning a corner. Fuel subsidies have been scrapped. Exchange-rate distortions have been reduced. The Petroleum Industry Act is finally being implemented. The Nigerian National Petroleum Company (NNPC) […]

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has voted to retain the Monetary Policy Rate (MPR) at 26.5% following its 305th meeting, which recorded the attendance of 11 members.   The Governor of the Central Bank, Olayemi Cardoso, who spoke at the end of the committee two day meeting on May […]

Dangote Industries Limited has commenced preliminary processes for the construction of a deep-sea port spanning over 10,000 hectares at the Olokola Free Trade Zone in Ogun State, as part of plans to expand into logistics, maritime infrastructure, and export-led industrialisation.   In a statement, the company said the multi-billion-dollar project is aimed at transforming the […]

For years, the obituary of the African bank has been drafted with almost theatrical confidence. Fintech firms, armed with sleek apps, venture capital and evangelical jargon about “disruption”, were supposed to reduce traditional lenders to the financial equivalent of rotary telephones. Nigeria, with its youthful population and chronic distrust of institutions, looked especially ripe for […]

… Explores local hydrographic solutions   The management of the Nigerian Maritime Administration and Safety Agency, NIMASA and the National Hydrographic Agency are exploring avenues to enhance the use and patronage of locally developed nautical charts and other hydrographic communication tools as part of efforts to advance maritime safety in Nigeria.   This formed the […]

President Bola Ahmed Tinubu has welcomed world aircraft-maker Airbus’ proposal to establish maintenance and hangar facilities in Nigeria as part of a broader effort to position the country as a regional aerospace and aviation services hub.   President Tinubu also emphasised Nigeria’s urgent need for modern helicopters and fixed-wing aircraft capable of supporting security operations, […]

French energy major, TotalEnergies is preparing to announce a long delayed Final Investment Decision (FID) on the Ima gas field after nearly three years of negotiations with its junior partner, Amni International, according to senior industry sources familiar with the talks. Courtesy From Huhuonline.com understands that the decision, expected as early as July 2026, marks […]

FirstBank, West Africa’s premier financial institution and financial inclusion service provider, has confirmed the appointment of Olayinka Ijabiyi as the substantive Group Head, Marketing and Corporate Communications. The appointment takes immediate effect and reinforces strong corporate governance at a pivotal point in the Bank’s growth and transformation journey.   Olayinka Thomas Ijabiyi is a seasoned […]

A fleet of trucks are seen lifting Premium Motor Spirit, known as petrol, at the refinery located in the Ibeju-Lekki area of Lagos State. Credit: X/ @DangoteGroup   Dangote Refinery has increased the ex-depot price of Premium Motor Spirit (PMS) or petrol and Automotive Gas Oil (diesel) following a sharp upward movement tied to international […]

Lagos, Nigeria – April 2026 – United Bank for Africa Plc,  leading Pan-African financial institution, has released its unaudited financial results for the first quarter ended March 31, 2026, demonstrating resilient operating performance and continued balance sheet strength despite a moderated profitability environment.   Gross earnings increased by 5% to ₦801.5 billion, driven by growth […]