Badagry Chamber of Commerce Urges Speedy Development of Proposed Deep Seaport
The Badagry Chamber of Commerce, Industry, Mines, and Agriculture has urged the federal government to expedite the development of the proposed $2.59 billion Badagry Deep Seaport, emphasizing its potential to serve as a vital transshipment hub for the West African region. Chamber President, Mr. Yahaya Idirs, highlighted the strategic location of Badagry, stating that it serves as a crucial gateway...
Expert Emphasizes Role of Renewable Energy in Achieving Sustainable Development Goals
Victoria Agbakwuru, a leading expert in sustainability and sustainable practices compliance, has stressed the critical role of renewable energy in achieving the United Nations' Sustainable Development Goals (SDGs). In a recently published paper titled "The Role of Renewable Energy in Achieving Sustainable Development Goals," co-authored with other experts, Agbakwuru explored how renewable energy sources, such as solar, wind, and...
Maritime Group Urges Government to Diversify Port Operations, Enhance Efficiency
A maritime group, Sea Empowerment and Research, has urged the federal government to diversify port operations by developing new terminals, warehouses, and logistics facilities to boost cargo throughput and revenue generation. In a statement, Mr. Eugene Nweke, head of the group, emphasized the need for increased private sector participation in port rehabilitation and operations through public-private partnerships (PPPs) to...
Oyetola Calls for Increased Investment in Maritime Security and Sustainable Practices
The Minister of Marine and Blue Economy, Adegboyega Oyetola, has called for increased investment in surveillance systems, enhanced maritime law enforcement, and improvements in aquaculture and fishing ports. Speaking during a session with Ministry agencies to review their 2025 budget proposals, Oyetola emphasized the need to strengthen Nigeria's maritime domain and unlock the full potential of the blue economy. He highlighted...
N2.8 Trillion Needed for TCN Projects to Improve Nigeria’s Power Grid
Minister of Power, Chief Adebayo Adelabu, has revealed that the Transmission Company of Nigeria (TCN) requires approximately N2.8 trillion to execute 149 projects aimed at improving electricity transmission across the country. During his appearance before the National Assembly's power sector committees to defend the Ministry of Power's 2025 budget proposal, Minister Adelabu emphasized the critical need for these investments to...
Ecobank Unveils “Kong in a Cage” Art Installation to Promote Sustainability
Ecobank Nigeria has unveiled a new art installation titled "Kong in a Cage" by artist Toyeeb Ajayi. The installation, made entirely from recycled materials, is now on display at the Ecobank Pan African Centre in Lagos. This initiative aligns with Ecobank's commitment to sustainability and environmental protection, building upon existing efforts such as the "Get Cash for Plastic Bottles" campaign....
Africa Poised for 4.2% GDP Growth in 2025, Driven by Services Sector and Domestic Demand
The Brookings Institution has projected that Africa's economy will experience robust growth in 2025, with GDP expected to reach 4.2 percent. This positive outlook follows a challenging period marked by inflation, limited access to financing, and the lingering effects of the COVID-19 pandemic. Key drivers of this projected growth include increased investments in infrastructure, ongoing economic reforms across the...
AfDB President and Vice President Named Among New African’s 100 Most Influential Africans of 2024
Dr. Akinwumi Adesina, President of the African Development Bank (AfDB), and Hassatou Diop N’Sele, Vice President for Finance, have been recognized among the 100 Most Influential Africans of 2024 by New African Magazine. Adesina, widely recognized for his visionary leadership, has overseen a significant transformation of the AfDB during his tenure, expanding the bank's capital base from $93 billion to...
Africa Finance Corporation Receives AAA Credit Rating
Africa Finance Corporation (AFC) has received a prestigious AAA domestic credit rating with a stable outlook from China Chengxin International Credit Rating Co. Ltd. (CCXI). This significant achievement will enable AFC to deepen its engagement in China's domestic debt capital markets, access a wider pool of investors, and further diversify its funding sources to accelerate infrastructure development across Africa....
Lagos Employers Face January 31st Deadline for Annual Tax Returns
The Lagos State Internal Revenue Service (LIRS) has issued a reminder to all employers in the state to file their annual tax returns for the 2024 financial year by January 31, 2025. This deadline is in accordance with the Personal Income Tax Act, which mandates employers to submit detailed annual returns of all employee emoluments, including taxes deducted and...
