Tag: business today

Why Jonathan should not contest in 2027 — Shehu Sani

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Senator Shehu Sani, a former congressman from Kaduna Central, cautioned former President Goodluck Jonathan from running for president in 2027, stating that the political climate has changed. Political circles have been speculating about Jonathan’s return ever since the African Democratic Congress launched a new opposition coalition and discussions on a one-term Southern presidency have continued. On Sunday Politics on Channels Television, Sani made the case that the Peoples Democratic Party, which Jonathan led to victory in 2011, is today weak and dispersed. In the South-West, the PDP is supporting the…

Nigeria’s debt to World Bank IDA hits $18.2bn – Report

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As of June 30, 2025, Nigeria still owes $18.2 billion, making it the third-largest debtor to the World Bank’s International Development Association. This is an increase of $1.7 billion, or around 10.3 percent, in just one year from $16.5 billion in June 2024. According to the most recent data from the IDA’s financial statements, Nigeria moved up from its prior standing as the fourth-largest borrower in 2023 to third place in 2024, where it remained until 2025. The World Bank Group’s concessional lending arm, the IDA, provides grants and loans…

Netanyahu has become ‘a problem’, says Danish PM

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As her nation presently holds the EU chair, Danish Prime Minister Mette Frederiksen stated on Saturday that Israeli leader Benjamin Netanyahu has turned into a “problem” and that she will attempt to exert pressure on Israel regarding the Gaza war. In an interview with the daily Jyllands-Posten, Frederiksen declared that Netanyahu was now a problem in his own right and that the Israeli government was gone “too far.” The latest settlement project in the occupied West Bank and the “utterly appalling and catastrophic” humanitarian situation in Gaza were denounced by…

Fire Breaks Out at Yinka Ayefele’s Fresh FM Headquarters in Ibadan

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A fire that destroyed Fresh FM Nigeria’s head office in Challenge, Ibadan, on Friday night has been confirmed by the organization’s management. The station said that the fire outbreak had impacted important facilities, including the studios of Fresh 105.9 FM and Blast 98.3 FM, in a statement issued late Friday by Samson Akindele, Group Head of Corporate Affairs, Fresh FM Nigeria, and Yinka Ayefele Limited. The statement claims that the fire caused significant damage after spreading to other workplaces, including the newsroom, transmitter/server room, and other crucial broadcasting equipment. According…

UNDP, REA partner on clean energy transition

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In order to accelerate Nigeria’s transition to clean energy, foster innovation, and prepare a new generation of experts for a future-ready energy sector, the Rural Electrification Agency and the United Nations Development Programme have inked an agreement. The development was revealed in a statement released by the electrification agency on Friday. Energizing education and innovation, expanding skills development, supporting state-level policy reforms, unlocking innovative finance, and boosting research and public engagement are the five main pillars upon which the relationship will be built. It was formally announced at a signing…

Meet recapitalisation target or face liquidation, NAICOM warns insurers

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Insurance firms that miss the July 2026 recapitalization deadline risk severe regulatory action, including merger or liquidation, the National Insurance Commission  NAICOM  has warned. The commission would not think twice about taking action against non-compliant companies, according to a circular sent to all insurance and reinsurance companies in Nigeria by Deputy Commissioner (Technical), Dr. Usman Jankara. According to the recently enacted Nigerian Insurance Industry Reform Act 2025, insurance companies must raise their capital to N10 billion for life insurance, N15 billion for non-life insurance, and N35 billion for reinsurance. The…

Inflation rate drops to 21.88% in July

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According to data from the National Bureau of Statistics, Nigeria’s headline inflation rate fell to 21.88 percent in July 2025 from 22.22 percent in June, marking the fourth consecutive month of declines. The July figure was 0.34 percentage points lower than the June rate and 11.52 percentage points lower than the 33.40 percent recorded in July 2024, according to the most recent Consumer Price Index report, which was made public on Friday. According to the NBS report, the Consumer Price Index increased 2.5 points from the previous month (123.4) to…

Soldiers rescue six kidnapped victims in Kogi

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Six abducted victims have been freed in Obajana, Kogi State, thanks to the efforts of troops from 12 Brigade Nigerian Army Lokoja and other security agencies. The victims were successfully rescued during the operation, which took place early on Thursday, and no troops were hurt. Brig. Gen. Kasim Sidi, Commander of 12 Brigade Nigerian Army and Force Commander Operation Accord III, told reporters in Obajana on Thursday that the rescue effort was made feasible by astute reporting and information collecting. According to Sidi, who was represented by Lt Col. Francis…

FIRS names 16 tech firms for e-invoicing onboarding

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FIRS Begins Fresh Recruitment Exercise - [See How To Apply]

16 tech businesses have been announced by the Federal Inland Revenue Service as service partners to help taxpayers join its e-invoicing platform. At a two-day workshop in Lagos on Thursday, the tech companies—certified by the National Information Technology Development Agency as access point providers and system integrators—were introduced to assist taxpayers with the onboarding, system integration, and invoice transmission processes. The National E-Invoicing Solution (Merchant-Buyer Model), as defined by the FIRS, is a computerized record of transactions between buyers and suppliers that essentially replaces conventional paper or electronic documents like…

Freed Ibom Air Passenger Gets N500,000 Job, Luxury Trip

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Comfort Emmanson, the Ibom Air passenger who was just released from Kirikiri prison, has been given a paid position and a fully compensated trip by Ossai Success, the Delta State Governor’s Senior Special Assistant on Media. Ossai declared in an Instagram post on Wednesday that Emmanson in Delta State will henceforth receive a monthly salary of N500,000. Flight tickets, lodging in a five-star hotel, a guided tour, and admission to the Delta Social Media Summit in Asaba on August 28 are also included in the package. “As the Big Heart…