Remita Nominated for “Product of the Year” at ThisDay Awards
Remita, a leading Nigerian payment platform, has been nominated for the prestigious "Product of the Year" award at the ThisDay Awards. This recognition acknowledges Remita's significant contributions to the Nigerian financial sector through its innovative and impactful solutions. Developed and powered by SystemSpecs Holdings, Remita is a pioneering platform that played a crucial role in establishing seamless interbank payments in Nigeria....
Nigerian Researcher Develops Advanced Numerical Models for Economic Risk Assessment
Olatunji Oluwafemi, a researcher from the Department of Mathematical Sciences at Adekunle Ajasin University, has developed advanced numerical models designed to address economic risks and dynamics. His research focuses on solving stiff differential equations, which are crucial for accurately modeling complex and sensitive phenomena in various fields, including economics, environmental science, and chemical processes. "With economies becoming more interconnected and vulnerable...
Nigeria Targets Improved Business Climate with Commercial Courts, Subnational Reforms
The Presidential Enabling Business Environment Council (PEBEC) has unveiled a roadmap to enhance Nigeria's business environment through the establishment of commercial courts, subnational councils, and a focus on digitalization. PEBEC's 2025 Outlook document highlights key initiatives aimed at streamlining business regulations, fostering transparency, and improving access to justice for businesses. A core aspect of the plan involves the nationwide establishment of...
NATCOMS to Sue NCC Over 50% Telecom Tariff Hike
The National Association of Telecoms Subscribers (NATCOMS) has vowed to challenge the Nigerian Communications Commission (NCC)'s recent approval of a 50% increase in telecom tariffs. In a statement released on Monday, the NCC announced the approval of the tariff hike, citing increased operational costs faced by telecommunications operators. While the NCC capped the increase at 50%, lower than the...
World Bank Debars Two Nigerian Companies, CEO for Corruption in Social Safety Nets Project
The World Bank Group has announced a 30-month debarment of two Nigerian companies – Viva Atlantic Limited and Technology House Limited – and their Managing Director and Chief Executive Officer, Mr. Norman Didam. This action follows an investigation that uncovered fraudulent, collusive, and corrupt practices by the entities during the implementation of the National Social Safety Nets Project in...
Digital Economy: FG Targets 21% ICT Contribution to GDP by 2028
Nigeria's Minister of Communications, Innovations, and Digital Economy, Dr. Bosun Tijani, has unveiled plans to boost the Information and Communications Technology (ICT) sector's contribution to the country's Gross Domestic Product (GDP) to 21% within the next two to three years. Currently, the ICT sector contributes between 14% and 16% to Nigeria's GDP. Key Drivers of Growth To achieve this ambitious target,...
Maritime Workers Union Raises Concerns Over Deteriorating Port Infrastructure
The Maritime Workers Union of Nigeria (MWUN) has raised serious concerns about the safety of port workers due to the deteriorating condition of quay aprons at Nigerian ports. In a statement that was recently released , MWUN President-General Adewale Adeyanju highlighted the significant safety risks posed by the sinking and decaying quay aprons, which are crucial for port operations. "The lives...
Niger Delta Youths Protest Oil Block Allocations to Non-Indigenous Companies
A group of Niger Delta youths have staged protests across the region, expressing strong objection to the recent allocation of oil block licenses to corporate entities and individuals who are not indigenous to the region. The protests, which took place in major cities across the Niger Delta, were a reaction to the recent licensing round conducted by the Nigeria Upstream...
Transportation Minister Seeks Increased Funding for Infrastructure Development
Minister of Transportation, Senator Saidu Alkali, has called for increased funding to sustain and expand Nigeria's transportation infrastructure, as outlined in the 2025 budget proposal. Addressing the Joint Committees at the National Assembly, Minister Alkali emphasized the critical role of transportation in national development, stating, "The nation's progress is intricately tied to the efficiency and development of our transportation...
Axxela Announces Organizational Restructuring to Drive Growth and Support Nigeria’s Energy Transition
Axxela Limited, a leading gas and power portfolio company in sub-Saharan Africa, has announced a significant organizational restructuring to accelerate growth and enhance its position as a key player in Nigeria's energy transition. This strategic move involves transitioning to a group structure comprising independent business units, each led by a dedicated managing director. This empowered model aims to drive individual...
