# Westafrica Business News

> Continental Mouthpiece


## Posts

- [AFC Raises Landmark CHF 350 Million Digital Bond](https://wabusinessnewsng.com/afc-raises-landmark-chf-350-million-digital-bond/): Becoming First African Issuer, Largest International Issuer in Swiss Market Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, on Wednesday announced that it has successfully raised CHF 350 million through a 5-year Digital Bond. This milestone transaction makes the Corporation the first African institution to issue a Digital Bond listed, traded and settled on a regulated digital exchange. The issuance is also the largest digital bond ever issued in the Swiss Franc market, reinforcing AFC’s leading role in international capital markets. The bond was priced at a coupon of 1.4925%, efficiently delivering funding within the Corporation’s USD 500 […]
- [SEC fixes 5pm T+1 settlement deadline for equities, commodities](https://wabusinessnewsng.com/sec-fixes-5pm-t1-settlement-deadline-for-equities-commodities/): The Securities and Exchange Commission (SEC) has fixed 5:00 p.m. on the first business day after a transaction (T+1) as the settlement deadline for equities and commodities traded and settled through the Central Securities Clearing System (CSCS). The Commission made this clarification in a circular issued on Wednesday to capital market operators and other market participants as part of the implementation of the T+1 settlement cycle in the Nigerian capital market. According to the SEC, all transactions in the affected securities must be fully paid by 5:00 p.m. T+1 to ensure compliance with the standard Delivery versus Payment (DvP) settlement […]
- [Presco H1-26: Weaker Pricing Weighs on Margins, .... Cordros Securities](https://wabusinessnewsng.com/presco-h1-26-weaker-pricing-weighs-on-margins-cordros-securities/): Elevated operating cost, with EPS dip In its update on PRESCO following the release of its H1-26 results, Cordros Securities noted that the period was challenging, reflecting softer domestic crude palm oil prices and elevated operating costs. It noted that revenue was broadly flat with 0.2% y/y growth, while EBITDA margin remained stable at 66.8% a +20bps y/y expansion while EPS declined by 20.2% y/y to NGN71.00/s. Cordros Securities noted that for 2026E, it remained cautious with the expectation that the current operating pressures would persist through the remainder of the year. “On this basis, we model a year-end TP […]
- [‘Kill Accord Party Members’ Threatening Senator Fadahunsi Leaves Police CID After Questioning](https://wabusinessnewsng.com/kill-accord-party-members-threatening-senator-fadahunsi-leaves-police-cid-after-questioning/): Senator Francis Fadahunsi has left the Osun State Police Command’s Criminal Investigation Department (CID) in Osogbo after honouring an invitation over a viral video in which he was allegedly heard threatening members of the Accord Party. It was observed that Fadahunsi, who represents Osun East Senatorial District, departed the police facility on Wednesday afternoon after spending time with investigators. The invitation followed a viral video from an All-Progressives Congress (APC) campaign programme in Ilesa, Osun State, where Fadahunsi was heard making threatening remarks against members and supporters of the Accord Party. In a letter dated August 11, 2026, the police […]
- [29 persons have died’ — Accord asks EU to monitor Osun guber](https://wabusinessnewsng.com/29-persons-have-died-accord-asks-eu-to-monitor-osun-guber/): Many others critically injured •Over 60 party members arrested detained in the North BY BONNY AMADI The Nigerian, Accord Party has asked the European Union (EU) to intervene in the political crisis in Osun state ahead of Saturday’s governorship election. In a letter dated August 12, 2026, and addressed to Gautier Migot, head of the EU delegation to Nigeria and ECOWAS, Maxwell Mgbudem, national chairman of the party, alleged that the political atmosphere in the state had deteriorated, with reports of violence, arrests, intimidation and harassment of political actors and supporters. Mgbudem claimed that at least 29 people had been […]
- [West Africa Growth Projected at 4.6% in 2026, Remains Resilient — AfDB Report](https://wabusinessnewsng.com/west-africa-growth-projected-at-4-6-in-2026-remains-resilient-afdb-report/): West Africa demonstrated economic resilience in 2025, recording growth of 4.8%, above the continental average of 4.4%, amid geopolitical tensions, insecurity in parts of the region, increasing fragmentation of the global economy and heightened volatility in international financial markets. These were among the major highlights of the African Development Bank Group’s 2026 West Africa Regional Economic Outlook and the 2026 Côte d’Ivoire Country Focus Report. The region’s outlook remains promising, with growth projected at 4.6% in 2026, driven by stronger private investment, recovering domestic demand, continued infrastructure investments and expansion in the oil, gas and mining sectors. However, prolonged geopolitical […]
- [Tinubu approves framework to unlock $50bn deep offshore investment](https://wabusinessnewsng.com/tinubu-approves-framework-to-unlock-50bn-deep-offshore-investment/): President Bola Tinubu has approved a reform that replaces project-by-project negotiations with a transparent investment framework designed to unlock up to $50 billion in deep offshore investment. In a statement on Tuesday, Bayo Onanuga, presidential spokesperson, said the reform is expected to restart Nigeria’s large, capital-intensive offshore developments that have remained stalled for decades. Onanuga said the approval also enables the Nigerian National Petroleum Company (NNPC) Limited, the government’s nominated counterparty under the production sharing contracts (PSCs), to proceed with the necessary amendments to eligible PSCs required to implement the framework. “President Bola Ahmed Tinubu, GCFR, has approved a landmark […]
- [Professors Now Aid Illiterates To Rig Elections,’ --Peter Obi](https://wabusinessnewsng.com/professors-now-aid-illiterates-to-rig-elections-peter-obi/): Raises Alarm Over Nigeria’s Democracy The presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has alleged that Nigeria’s democratic institutions are being systematically weakened ahead of the 2027 general elections, claiming that “professors are aiding illiterates to rig elections,” while judges now endorse electoral mandates “whether stolen or not.” Obi made the remarks on Tuesday while speaking at the 2026 Goodluck Jonathan Democracy Dialogue held in Bauchi State, where he expressed concern over what he described as the steady erosion of electoral integrity, judicial independence and the rule of law in Nigeria. The former Anambra State governor lamented […]
- [Airlines resume flight operations as unions suspend industrial action temporarily](https://wabusinessnewsng.com/airlines-resume-flight-operations-as-unions-suspend-industrial-action-temporarily/): Domestic airlines have resumed flight operations following the suspension of industrial action by aviation unions over the dispute surrounding the remittance of the five percent ticket sales charge (TSC). Speaking to TheCable on Tuesday, Osifo-Whiskey Efe, spokesperson of Air Peace, said the airline had resumed operations but is still working to clear the backlog of passengers stranded by the disruption. He said Air Peace, which operates about 70 regional and international flights daily, had cancelled 29 flights as of Tuesday afternoon, with more cancellations possible. “We are trying to see how many flights we can operate with the number of […]
- [Osun Guber: APC Senator tells supporters “If you see Accord members, kill them](https://wabusinessnewsng.com/osun-guber-apc-senator-tells-supporters-if-you-see-accord-members-kill-them/): Later Explains who to kill Francis Fadahunsi, senator representing the Osun east senatorial district, has asked his supporters to kill members of the Accord Party ahead of the state’s August 15 governorship election. In a video shared on X on Tuesday by David Adeleke (Davido), Afrobeat singer, the All-Progressives Congress (APC) senator, who spoke in Yoruba, asked supporters to lynch members of the Accord Party. “From now on, whenever you see Accord members, kill them. I authorise you to kill them. They have wives and children too,” Fadahunsi said. “This is a federal government election. On election day, even if […]
- [Amplify 2026: Business of Live Gives Structural Lifeline to Emerging MSMEs in Creative Industry](https://wabusinessnewsng.com/amplify-2026-business-of-live-gives-structural-lifeline-to-emerging-msmes-in-creative-industry/): Launches Life Production Academy The Business of live events productions, light, Sound, video and all that have to do with ensuring that live events are hitch free are driven by creative artists in the production segment. These production engineers or crew have in most cases deployed their creative talents and professions to give life to events watched or monitored by people not only at the venue, but also from different parts of the globe. Remarkably, these sound, light, video, photo, decor, and other live production experts, end up as super professionals in their skills, but in most cases remain broke. […]
- [FCT can finance Abuja infrastructure through capital market – SEC DG](https://wabusinessnewsng.com/fct-can-finance-abuja-infrastructure-through-capital-market-sec-dg/): The Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has outlined how the Federal Capital Territory Administration (FCTA) can leverage Nigeria’s capital market to raise long-term funds for critical infrastructure projects instead of relying solely on annual budgetary allocations. Speaking at the Abuja Business & Investment Summit and Expo (ABIE 2026) in Abuja, Agama said the capital market offers the FCT a sustainable financing model for roads, rail, housing, water, transport and other infrastructure through instruments such as infrastructure bonds, green bonds, real estate investment trusts (REITs), asset recycling and tokenised municipal securities. He argued that Abuja’s […]
- [Sanwo-Olu Condemns Vandalism of Festac -Alakija Bridge](https://wabusinessnewsng.com/sanwo-olu-condemns-vandalism-of-festac-alakija-bridge/): Lagos State Governor, Mr. Babajide SanwoOlu has directed security agencies to go after criminals who vandalised the Festac-Alakija Bridge. “Lagos will not tolerate any act of vandalism because it is barbaric and criminal,” Mr. Sanwo-Olu said, adding: “I have been informed by officials of the Office of Infrastructure who visited the bridge that the structural integrity of the bridge is intact and remedial work will be executed immediately to protect the columns.” Anyone who is found to be culpable in this horrendous, shameful and condemnable incident will surely face the law. Lagos has no place for such barbarism and acts […]
- [Nigeria Can Attract More Investment, Create Wealth via Secure, Efficient Land Administration](https://wabusinessnewsng.com/nigeria-can-attract-more-investment-create-wealth-via-secure-efficient-land-administration/): BY OPEYEMI MORADEKE ADEBAYOMI, ESQ. Lawyer, Real Estate Consultant, Corporate Governance Professional and Public Affairs Commentator Nigeria does not have a shortage of land. What we have is a shortage of certainty around land. Across the country, millions of hectares remain available for residential development, agriculture, commercial projects, industrial expansion and infrastructure. Yet, for many investors, the question is not whether Nigeria has enough land. The real question is whether an investor can acquire land, verify its ownership, perfect title and develop it without spending years navigating uncertainty, multiple claims and administrative bottlenecks. That is where Nigeria’s land administration system […]
- [Nigeria’s public debt hits N159.3trn — up by N9.9trn in one year](https://wabusinessnewsng.com/nigerias-public-debt-hits-n159-3trn-up-by-n9-9trn-in-one-year/): …. N3.10trn spent on servicing Domestic debt in Q1 BY BONNY AMADI The Nigerian Debt Management Office (DMO) says the country’s total public debt rose to N159.35 trillion as of March 31, 2026. Meanwhile, Nigeria spent N3.1trn on domestic debt servicing in Q1 The record, according to the DMO’s latest public debt portfolio report, represents a 6.7 percent or N9.96 trillion increase from N149.39 trillion recorded at the end of the first quarter (Q1) of 2025. However, the figure was almost unchanged when compared with the N159.28 trillion recorded at the end of December 2025. On a quarter-on-quarter basis, public […]
- [Setting the Record Straight: Hon. Cornelius Ojelabi, Lagos APC Chairman, Championing Youth Inclusion and People’s Choices](https://wabusinessnewsng.com/setting-the-record-straight-hon-cornelius-ojelabi-lagos-apc-chairman-championing-youth-inclusion-and-peoples-choices/): BY OPEYEMI ENIOLA In the dynamic and sometimes intrigue-laden politics of Lagos State, where narratives of sectional groups and entrenched cabals often take centre stage, Hon. (Pastor) Cornelius Ojelabi has distinguished himself as a unifying leader. As the re-elected Chairman of the All-Progressives Congress (APC) in Lagos, he has consistently prioritised youth inclusion, grassroots consensus-building, and the emergence of candidates who truly reflect the aspirations of the people often pushing back against traditional power structures. Under his stewardship, the party has embraced broader participation, placing premium on competence, loyalty, fresh ideas, and youthful energy over recycled elite dominance. Youth at […]
- [Africans support free movement, but remain divided on immigration.... Report](https://wabusinessnewsng.com/africans-support-free-movement-but-remain-divided-on-immigration-report/): A majority of Africans support the free movement of people across borders, but many remain cautious about immigration into their own countries, Afrobarometer’s new African insights flagship report shows. While citizens are quite open to having foreigners in their midst, they are evenly split on whether immigrants are good or bad for the national economy, and majorities would prefer to see fewer or no job seekers and refugees admitted into their country. One unexpected finding stands out: In Africa, unlike elsewhere, it is the most educated, the most skilled, and the wealthiest who express the greatest resistance to immigrants. The […]
- [PFIPC was never established by law’ — ICPC indicts OSGF, Budget Office, NITDA](https://wabusinessnewsng.com/pfipc-was-never-established-by-law-icpc-indicts-osgf-budget-office-nitda/): The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has recommended the prosecution of Adeniyi Adeyemi, the director general of the controversial Presidential Foreign Investment Promotion Council (PFIPC). Speaking on Thursday during a briefing with State House correspondents after presenting an interim investigation report to President Bola Tinubu at the Presidential Villa, Abuja, Musa Aliyu, ICPC chairman, said PFIPC had no legal backing and never existed as a government agency. The briefing followed a 30-day investigation ordered by the president on July 7 into allegations surrounding the purported presidential council. The commission also cleared the presidency and the Central […]
- [PS FMMBE Welcomes Stratergic Financing Partnerships with Coronation Group](https://wabusinessnewsng.com/ps-fmmbe-welcomes-stratergic-financing-partnerships-with-coronation-group/): To Accelerate Marine and Blue Economy Development The Permanent Secretary, Federal Ministry of Marine and Blue Economy, Mrs. Fatima Sugra Tabi’a Mahmood, has reaffirmed the Ministry’s commitment to leveraging strategic partnerships and innovative financing options to accelerate infrastructure development and unlock the vast economic potential of Nigeria’s marine and blue economy. She stated this on Thursday, 6th August 2026, while receiving a delegation from Coronation Group on a courtesy visit to the Ministry in Abuja. A report dated 6th August 2026, signed by : Anastasia Ogbonna Director, Press & PR, Federal Ministry of Marine and Blue Economy (FMMBE) made available […]
- [SEC moves to curb unclaimed Funds, strengthen investor protection](https://wabusinessnewsng.com/sec-moves-to-curb-unclaimed-funds-strengthen-investor-protection/): The Securities and Exchange Commission (SEC) has intensified efforts to reduce unclaimed funds and other dormant investment assets by launching a Probate/Unclaimed Monies Awareness and Investor Clinic aimed at helping beneficiaries recover inherited investments and strengthening investor protection in Nigeria’s capital market. Speaking at the opening of the clinic in Abuja organised by the Commission in partnership with Meristem on Thursday, SEC Director General, Dr. Emomotimi Agama, said the initiative was designed to bridge the gap between investors’ legal entitlements and their ability to access inherited assets. He noted that many Nigerian families face prolonged delays in accessing shares, dividends […]
- [Stocks Trading Revised Pricing Method Begins 17th August](https://wabusinessnewsng.com/stocks-trading-revised-pricing-method-begins-17th-august/): BY BONNNY AMADI The Securities and Exchange Commission (SEC) has approved the Nigerian Exchange Limited (NGX) Revised Pricing Methodology Framework for equities trading. According to the approved framework by SEC, the revised framework will become effective Monday, 17 August 2026. Our correspondent gathered that the new equities price movement methodology is designed to strengthen price discovery by ensuring that transactions of material economic value are appropriately reflected in published market prices, while maintaining safeguards against price distortion. Under the revised framework, tiered minimum traded quantity thresholds will apply for published price movements, based on the prevailing share price of each […]
- [Ending incessant health workers’ strikes](https://wabusinessnewsng.com/ending-incessant-health-workers-strikes/): BY KAYODE ADEBIYI For decades, Nigeria’s healthcare system has been held in a tight grip by recurring industrial actions, with a cycle of ultimatums, warning strikes and indefinite industrial action. These disruptions have become a grim and agonisingly regular occurrence. Even in the turn of the New Year, the sector continues to face turbulence over salary adjustments and working conditions. Recently, after 84 days of downing tools, the Joint Health Sector Unions (JOHESU) suspended its nationwide strike following an agreement with the Federal Government to implement unsettled salary adjustments and other outstanding demands. The suspension was announced in a communiqué […]
- [SEC Holds Abuja Investor Clinic on Unclaimed Capital Market Assets](https://wabusinessnewsng.com/sec-holds-abuja-investor-clinic-on-unclaimed-capital-market-assets/): The Securities and Exchange Commission (SEC) will on Thursday August 6, hold an investor clinic in Abuja to educate investors and beneficiaries on how to recover unclaimed monies and inherited investments in the Nigerian capital market. The programme, tagged “Probate and Unclaimed Monies Awareness and Investor Clinic,” is part of a nationwide awareness campaign launched by the Commission in collaboration with Meristem Registrars and Probate Services Limited to improve investor protection, financial literacy and confidence in the capital market. Speaking on the initiative, the Director-General of the SEC, Dr. Emomotimi Agama, said the campaign was aimed at helping investors and […]
- [Amidst rising costs, financing constraints, Nigerian businesses Grew in July .... NESG](https://wabusinessnewsng.com/amidst-rising-costs-financing-constraints-nigerian-businesses-grew-in-july-nesg/): Nigerian business activities recorded a boost in July 2026 even amidst mounting cost pressures, with firms recording stronger performance across major sectors. In the period, limited access to finance, energy shortages and infrastructure deficits continued to stifle business operations. The latest Business Confidence Monitor (BCM) released by the Nigerian Economic Summit Group (NESG), which showed that the overall Current Business Performance Index rose to 108.6 points in July from 104.6 points in June. The July 2026 score was also higher than 105.4 points recorded in July 2025. The report attributed the improved business climate to broad-based expansion across the economy, […]
- [NAICOM revokes Nigeria Reinsurance’s licence, cites failure to meet capital requirement](https://wabusinessnewsng.com/naicom-revokes-nigeria-reinsurances-licence-cites-failure-to-meet-capital-requirement/): The National Insurance Commission (NAICOM) has revoked the operating licence of Nigeria Reinsurance Corporation over its failure to meet the statutory minimum capital requirement (MCR). The insurance regulator also appointed Muiz Banire, a senior advocate of Nigeria (SAN), as receiver/provisional liquidator to oversee the company’s liquidation, according to a public notice dated August 4. In the public notice, Banire said his appointment took effect on August 3, 2026, following the cancellation of the corporation’s certificate of registration by the insurance regulator. The appointment, he said, was in exercise of NAICOM’s statutory powers to take charge of the receivership and liquidation […]
- [Heirs Insurance Group Poised for Leadership in Nigeria’s Post-Recapitalisation Insurance Era](https://wabusinessnewsng.com/heirs-insurance-group-poised-for-leadership-in-nigerias-post-recapitalisation-insurance-era/): Heirs General, Heirs Life meet NAICOM’s recapitalisation requirements Heirs Insurance Group, Nigeria’s fastest-growing insurance group, has met the National Insurance Commission’s (NAICOM) recapitalisation requirements, with both Heirs General Insurance and Heirs Life Assurance included on the Commission’s list of insurance companies that have satisfied the revised minimum capital requirements. This development follows the conclusion of National Insurance Commission’s (NAICOM) landmark recapitalisation programme, which will reshape Nigeria’s insurance landscape and create a stronger industry capable of supporting larger investments, infrastructure projects and accelerated economic growth. As Nigeria pursues its ambition of building a US$1 trillion economy, the recapitalisation reforms come at […]
- [Kwara’s 176 Kidnapped: Women, Children Regain Freedom After 6 Months](https://wabusinessnewsng.com/kwaras-176-kidnapped-women-children-regain-freedom-after-6-months/): The 176 women and children who were abducted by suspected kidnappers from Woro community in Kaiama Local Government Area of Kwara State have reportedly regained their freedom after spending six months in captivity. The victims were allegedly held by terrorists suspected to be members of Boko Haram before they were released. It was gathered that the victims were released on Wednesday, bringing relief to their families and residents of the community after months of uncertainty. Confirming the development, the Senior Special Assistant to the Kwara State Governor on Communications, Ibraheem Abdullateef, announced in a statement that the victims had been […]
- [Catholic Laity to presidency: Onaiyekan spoke out of concern for Nigeria — not malice](https://wabusinessnewsng.com/catholic-laity-to-presidency-onaiyekan-spoke-out-of-concern-for-nigeria-not-malice/): The Catholic Laity Council of Nigeria (CLCN) says John Onaiyekan, cardinal and former archbishop of Abuja archdiocese, commented on President Bola Tinubu’s meeting with Catholic bishops out of concern for Nigeria. Catholic laity are ordinary, baptised members of the Catholic Church. They make up a vast majority of Catholics globally. On Saturday, Onaiyekan, while reflecting on discussions held during a meeting between the president and Catholic bishops, said the Tinubu-led administration appears determined to secure victory in the 2027 elections “by all means”. Following his remarks, Daniel Bwala, special adviser to the president on policy communication, accused the cardinal of […]
- [Analysts Update Airtel Africa Rating from “Buy” to “Hold”](https://wabusinessnewsng.com/analysts-update-airtel-africa-rating-from-buy-to-hold/): Following the recent release of Airtel Africa Plc Q1-27 Earnings, Cordros Research has updated its rating on the stock from Buy to Hold, noting that the momentum remains Intact. “However, with the stock having largely priced in the stronger outlook, our implied upside narrows to 16.9% from the current market price of NGN5,801.40, leading us to downgrade our rating from “BUY” to “HOLD”. Stated Cordros Research. Cordros Research in its update forecast a 60.7% y/y growth in PAT in 2027E. EPS including NCI is forecast at USD0.36 (2027E-2031E CAGR: +13.9%), while DPS is forecast at USD0.08 (2026FY: USD0.07). The Cordros […]
- [AI fuelling cybercrime spike in Nigeria...., Interpol report](https://wabusinessnewsng.com/ai-fuelling-cybercrime-spike-in-nigeria-interpol-report/): Artificial intelligence (AI) is enabling 55 percent of reported cybercrimes across Africa, making attacks faster, more scalable, and increasingly difficult for victims and platforms to detect, according to Interpol’s African cyberthreat assessment report 2026. The report, released on Monday, said a chunk of data breaches was observed in South Sudan, South Africa, Nigeria, and Namibia, between January 2024 and September 2025. Ransomware incidents were similarly prevalent across South Africa, Nigeria, Namibia, Senegal, and Zambia, with attackers increasingly targeting healthcare institutions, utility providers, and public service portals to maximise disruption and extortion potential. The 40-page report relied on survey data from […]
- [NAFDAC warns against unregistered menopause support capsules in circulation](https://wabusinessnewsng.com/nafdac-warns-against-unregistered-menopause-support-capsules-in-circulation/): The National Agency for Food and Drug Administration and Control (NAFDAC) has warned Nigerians against the sale, distribution, purchase and use of unregistered Menofix composition. Menofix is sold as a hormone-free, vegetarian friendly multivitamin and herbal supplement designed to help women navigate the physical and hormonal shifts of perimenopause and menopause. In a public alert on X on Tuesday, NAFDAC said it received a complaint concerning the marketing and sale of Menofix capsules. NAFDAC stated that the drug was unregistered and detrimental to health. “Following investigation by the post marketing surveillance directorate, it was established that the complaint product, Menofix, […]
- [$4.5bn NNPC’s Oil-Backed Loan: NEC Approves Refinancing](https://wabusinessnewsng.com/4-5bn-nnpcs-oil-backed-loan-nec-approves-refinancing/): BY BONNY AMADI The Nigerian, National Economic Council (NEC) has approved the refinancing of the $3.3 billion Project Gazelle pre-export finance facility through a new $4.5 billion facility named ‘Project Gazelle 2’. The approval is expected to enable the Nigerian National Petroleum Company (NNPC) Limited to refinance the outstanding balance of $1.5 billion under the original 2023 facility while unlocking an additional $3 billion in liquidity to strengthen the country’s external reserves and support the ongoing fiscal and infrastructure priorities of the government. Stanley Nkwocha, the vice-president’s media aide, disclosed in a statement that, the decision was taken at the […]
- [Tasha Dagi: The pepper market powering Kebbi’s rural economy](https://wabusinessnewsng.com/tasha-dagi-the-pepper-market-powering-kebbis-rural-economy/): BY LAWAL TAOFEEK Every Friday, hundreds of farmers from across Kebbi converge on Tasha Dagi market in Jega Local Government Area with sacks of dried pepper. The weekly trade sustains a network that stretches from northern Nigeria to parts of West Africa. Although relatively unknown outside the state, the market has become an important hub where farmers, traders and transporters meet to exchange dried pepper, a commodity that eventually finds its way to major Nigerian cities and neighbouring countries. Jega, one of the oldest commercial towns in Kebbi State, has historically served as a link between northern Nigeria, the Southwest […]
- [AVA Capital Lists on NGX Main Board](https://wabusinessnewsng.com/ava-capital-lists-on-ngx-main-board/): AVA Capital Plc has been admitted to the Main Board of Nigerian Exchange Limited (NGX) following the listing by introduction of its 5 billion ordinary shares at N7.50 per share, with a market capitalisation of ₦37.5 billion. The listing marks a significant milestone in the Company’s growth journey, reinforcing its commitment to sustainable growth, strong corporate governance and long-term value creation, while enhancing its visibility within Nigeria’s capital market. Speaking at the listing ceremony, the Chief Executive Officer of AVA Capital Plc, Kayode Fadahunsi, described the admission as a defining moment in the Company’s evolution. “Our admission to the Main […]
- [EBID Supports Bauchi State’s Economic Transformation With US$91.6 Million Transport Infrastructure Facility](https://wabusinessnewsng.com/ebid-supports-bauchi-states-economic-transformation-with-us91-6-million-transport-infrastructure-facility/): The ECOWAS Bank for Investment and Development (EBID) and the Government of Bauchi State, Federal Republic of Nigeria, have signed a financing agreement to support the implementation of the Bauchi State Transport Infrastructure Financing Programme. The agreement was signed at EBID Headquarters in Lomé, Republic of Togo, by Dr. George Agyekum Donkor, President and Chairman of the Board of Directors of EBID, and His Excellency Senator Bala Abdulkadir Mohammed, CON, Executive Governor of Bauchi State. Under the agreement, EBID will provide financing of US$91.63 million for the construction and completion of 24 strategic road and bridge projects across Bauchi State. […]
- [Cadbury Nigeria posts N83bn revenue in H1 2026](https://wabusinessnewsng.com/cadbury-nigeria-posts-n83bn-revenue-in-h1-2026/): Cadbury Nigeria Plc has announced a revenue of N83.35billion for the first half of the year, following the approval of the Company’s unaudited financial statements by its Board of Directors. This represents an increase of 8 percent over the N77.25billion revenue that the Company posted in the same period in 2025. The Company’s gross profit grew by 10 percent from N21.86billion reported in the first half of 2025, to N24.12billion in the period under review. Cadbury Nigeria also reported a profit of N8.10billion in H1 2026, which translates to a 20 percent decrease compared to the N10.17billion reported in H1 […]
- [Strong Demand Supports Bond Prices as Yields Trend Lower](https://wabusinessnewsng.com/strong-demand-supports-bond-prices-as-yields-trend-lower/): Liquidity Tightens After NTB, OMO Settlements As Treasury Bills Demand Remains Robust Funding conditions in the Nigerian financial system came under pressure during the week following the settlement of N1.20 trillion in Nigerian Treasury Bills (NTBs) and N2.19 trillion in Open Market Operations (OMO) auctions, which significantly drained liquidity from the banking system. Consequently, system liquidity declined by 20.68% to N2.99 trillion from N3.78 trillion in the previous week. Despite this moderation, liquidity remained firmly in surplus, underscoring the resilience of banking system funding even as the Central Bank of Nigeria (CBN) maintained its tight monetary policy stance aimed at […]
- [Pension Net Asset Value Rises 11.83% to N30.70tn in June](https://wabusinessnewsng.com/pension-net-asset-value-rises-11-83-to-n30-70tn-in-june/): A m/m Decline by 1.99% in June Raises Equities holdings to N5.91tn in June As Market Correction Reshapes Portfolio Allocation BY BONNY AMADI The Nigerian Pension net asset value increased by 11.83% from N27.45 trillion recorded in December 2025, to N30.7 trillion as at the end of June 2026. However, the pension industry witnessed its first month/month (m/m) notable contraction in 2026 as total pension assets declined to N30.70 trillion in June 2026 from N31.32 trillion in May, representing a monthly decline of 1.99%. Pension funds increased their holdings in domestic quoted shares to N5.91 trillion in June 2026 from […]
- [How methane emissions fuel Nigeria’s food crisis](https://wabusinessnewsng.com/how-methane-emissions-fuel-nigerias-food-crisis/): BY MARTHA AGAS Gazing at the spotted leaves of her cocoyam plant, Victoria Tamuno of Ayamabele community, Bayelsa, feels a familiar fear—the warning signs of another low harvest. This situation has recurred for more than a decade on plants in the community. However, the issue is not limited to her cocoyam farm; the cassava and yam crops are not doing any better. “They either rotted in the soil or the tubers were so tiny, while some species went extinct. This was not the case in the past.” The mother of nine, in her 60s battling with a sick husband, says […]
- [Domestic Bonds Rally as Eurobonds Face Selling Pressure](https://wabusinessnewsng.com/domestic-bonds-rally-as-eurobonds-face-selling-pressure/): The Nigerian secondary bond market closed last week on a bullish note, supported by strong investor demand across key maturities Increased buying interest drove bond price appreciation and pushed yields lower, reflecting sustained confidence in domestic fixed income instruments. Consequently, the average FGN bond yield declined by 21 basis points week-on-week to close at 17.46%. The Debt Management Office (DMO), on behalf of the Federal Government of Nigeria (FGN), recorded robust investor demand at its July 2026 bond auction, with total subscriptions of N1.74 trillion against an offer of N1.20 trillion, representing an oversubscription rate of 1.87x. The strong subscription […]
- [Sanwo-Olu pays N3.1bn compensation to owners of land acquired for Lagos infrastructure](https://wabusinessnewsng.com/sanwo-olu-pays-n3-1bn-compensation-to-owners-of-land-acquired-for-lagos-infrastructure/): 331 families, schools, mosques get cheques Hundreds of beneficiaries, including filling stations, private schools and mosques have been compensated by the Lagos State Government as Projects Affected Persons on parcels of land acquired for overriding public interest. Governor Babajide Sanwo-Olu, on Monday, presented N3.1 billion cheques to owners of ancestral land, residential buildings and business centres acquired across Badagry, Epe, Ikorodu, Igbogbo and Ogba areas for various development projects of the State Government. The ceremony, held at Adeyemi Bero Hall in Alausa, was a sequel to the compensation scheme held two years ago for families and businesses affected by the […]
- [Nigeria’s $2bn Renewable Energy Investment Yields Only 76,000 Jobs](https://wabusinessnewsng.com/nigerias-2bn-renewable-energy-investment-yields-only-76000-jobs/): …. As, REA Flags Local Capacity Gap Dr. Abba Aliyu, Managing Director of the Rural Electrification Agency (REA), has disclosed that Nigeria’s renewable energy workforce participation remains significantly low, with the sector generating only about 70,000 jobs despite attracting over $2 billion in cumulative investment, compared to the 16.2 million jobs supported by the global solar industry. The gap, according to the REA MD, underscores the urgent need for a deliberate shift toward local capacity development, warning that Nigeria cannot build a sustainable energy transition on permanent import dependence. The REA MD made this known in his keynote address at […]
- [Amidst CBN’s Tight Policy Stance Liquidity remains Robust](https://wabusinessnewsng.com/amidst-cbns-tight-policy-stance-liquidity-remains-robust/): With N929bn bond settlement debit As DMO offers N700bn semi-monthly T-Bills Nigerian money market remained resilient during the week despite significant funding outflows and the Monetary Policy Committee’s (MPC) decision to maintain a tight monetary policy stance. System liquidity opened the week with a net surplus of N3.20 trillion, lower than the N4.68 trillion recorded in the previous week, largely reflecting a decline in balances at the Central Bank of Nigeria’s (CBN) Standing Deposit Facility (SDF). Liquidity was subsequently boosted by N1.50 trillion in Open Market Operations (OMO) bill maturities, which provided substantial inflows into the banking system. However, funding […]
- [Investors gain N2.53trn in Five Days as Equities Open Week Higher](https://wabusinessnewsng.com/investors-gain-n2-53trn-in-five-days-as-equities-open-week-higher/): BY BONNY AMADI Investors on the NGX equities market reaped a total of N2.53 trillion in the last trading week as market opens the new week positive. The NGX Equities market closed last week on a positive note, supported by renewed buying interest across key counters. Investors in the market collectively grew their investment value by N2.53 trillion for the five trading sessions of the week. The benchmark NGX All Share-Index (ASI) gained 0.xx% week-on-week to close at 247,357.40 points, while market capitalisation increased by approximately N2.53 trillion to N159.59 trillion. Consequently, the market’s year-to-date return improved to 58.96%. Market […]
- [38 of 190 Survived: Urgent measures needed to prevent more death on Atlantic migration.... MSF](https://wabusinessnewsng.com/38-of-190-survived-urgent-measures-needed-to-prevent-more-death-on-atlantic-migration-msf/): Urges ECOWAS, others to collectively prevent further loss of life Just 38 people, out of around 190, have survived an horrific attempt to cross by boat from western Africa to the Canary Islands. The survivors disembarked at Nouadhibou, Mauritania, on 18 July, where Médecins Sans Frontières (MSF) teams assisted them on arrival. The deadly incident highlights the perils of the Atlantic migration route. MSF urges West African governments of countries along the migration route, European states, and regional and international organisations to work collectively to prevent further loss of life, with saving lives at sea an immediate priority. According to […]
- [Tinubu approves expansion of Nigerian Army from eight to 12 divisions](https://wabusinessnewsng.com/tinubu-approves-expansion-of-nigerian-army-from-eight-to-12-divisions/): Recruitment of 28,000 personnel President Bola Tinubu has approved the expansion of the Nigerian Army from eight to 12 divisions and recruitment of 28,000 personnel. Bayo Onanuga, special adviser to the president on information and strategy, said in a statement on Thursday that the approval is a “landmark move to enhance the country’s security architecture and improve the operational effectiveness of the Nigerian Army.” Onanuga added that the approval reflects the president’s commitment to equipping the armed forces to effectively tackle Nigeria’s changing security challenges and further strengthen the country’s defence capabilities. The presidential spokesperson said the expansion builds on […]
- [BUA Cement records 29.2% y/y Revenue growth in Q2-26](https://wabusinessnewsng.com/bua-cement-records-29-2-y-y-revenue-growth-in-q2-26/): As EPS grows 48.8% with 57.5% expansion in OPEX BUA Cement Plc (BUACEMENT) released its Q2-26 unaudited results on Thursday reporting a 48.8% y/y increase in EPS to NGN4.39 (Q2-25: NGN2.95), bringing H1-26 EPS to NGN9.59 (H1-25: NGN5.34). Profit before tax (PBT) increased by 66.7% y/y to NGN191.75 billion, while profit after tax (PAT) rose by 48.8% y/y to NGN148.50 billion, following a tax expense of NGN43.25 billion. The earnings expansion was underpinned by a 29.2% y/y growth in revenue, a 642bps y/y expansion in EBITDA margin to 54.3%, and a net FX gain of NGN3.56 billion (Q2-25: net FX […]
- [Deep Learning Indaba 2026: Africa’s Largest AI Movement Convenes in Lagos](https://wabusinessnewsng.com/deep-learning-indaba-2026-africas-largest-ai-movement-convenes-in-lagos/): to Champion “Sovereignty in the Era of AGI” The Deep Learning Indaba (DLI), Africa’s premier grassroots movement for machine learning and artificial intelligence (AI), has officially announced its 8th annual continent-wide gathering Returning for a landmark edition, the Indaba will take place from August 2nd to August 7th, 2026, hosted at the Pan-Atlantic University (PAU) in Lagos, Nigeria. As the global tech landscape accelerates toward Artificial General Intelligence (AGI), the 2026 Indaba anchors its focus on a critical imperative: Sovereign Intelligence. This year’s assembly centres on the strategic necessity for Africa to build, steward, own, and understand its own digital […]
- [AU to Summon South Africa over Xenophobia, Financial losses](https://wabusinessnewsng.com/au-to-summon-south-africa-over-xenophobia-financial-losses/): BY BONNY AMADI The AU Commission Chairperson acknowledged that the attacks have affected nationals from several African countries Access Multimedia Content The Chairperson of the African Union (AU) Commission, Mahmoud Ali Youssouf, has agreed on the need to summon South Africa to address growing concerns over rising xenophobic attacks on foreign nationals in the country at the next AU summit. His commitment came after bilateral talks with President John Dramani Mahama, who reiterated his request on the sidelines of the AU Extraordinary Summit on Universal Health Coverage and ending AIDS, held in Accra. President Mahama disclosed that the South African […]
- [Unilever Nigeria H1-26 UFS underpinned by 29.8% Opex growth](https://wabusinessnewsng.com/unilever-nigeria-h1-26-ufs-underpinned-by-29-8-opex-growth/): 57.8% y/y surge in tax expenses•N2.00 interim dividend declared UNILEVER’ Nigeria Plc H1-26 earnings released recently by the NGX Exchange showed stronger revenue growth by 18.8% y/y, driven by the Food Products segment. However, OPEX growth by 29.8% y/y outpaced revenue growth of 22.2% y/y, limiting margin expansion despite ongoing cost optimization. The board declared an interim dividend of NGN2.00/share, translating to a dividend yield of 1.6%. Unilever Nigeria Plc (UNILEVER) published its Q2-26 unaudited results on 21 July, reporting EPS of NGN1.49, which also showed decline by 3.1% y/y, which brought H1-26 EPS to NGN2.72, reflecting +8.3% y/y growth. […]
- [Oyo Govt Probe: Court Stops EFCC](https://wabusinessnewsng.com/oyo-govt-probe-court-stops-efcc/): Calls Move ‘Fishing Expedition’ Nigerian Federal High Court in Ibadan has restrained the Economic and Financial Crimes Commission (EFCC) from proceeding with its proposed investigation into the finances of the Oyo State Government, ruling that the anti-graft agency’s planned probe was speculative and amounted to a fishing expedition. Justice Nkeonye Maha, who delivered the judgment on Wednesday in suit number FHC/IB/CS/61/2025, held that although the EFCC possesses statutory powers to investigate financial crimes, such powers must be exercised within the confines of the Constitution and the rule of law. The court specifically faulted the Commission’s proposed investigation, particularly the demands […]
- [Prepare for Autonomous Ships, Digital Shipping Disputes ...Oyetola Urges Judiciary](https://wabusinessnewsng.com/prepare-for-autonomous-ships-digital-shipping-disputes-oyetola-urges-judiciary/): As CJN, SGF, House Speaker Seek Faster, Stronger Collaboration to Unlock Nigeria’s Maritime Potential Nigerian Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, has urged the judiciary to prepare for a new generation of maritime disputes arising from autonomous ships, digital shipping and the global transition to cleaner maritime transport. Dr. Oyetola said the rapid evolution of maritime technology was creating unprecedented legal questions around liability, navigational responsibility, insurance, collision regulations and the allocation of responsibility when autonomous vessels or their systems fail. Delivering the keynote address at the opening ceremony of the 18th International Maritime Seminar for Judges […]
- [First HoldCo Ownership: Otedola acquires N77bn more shares to Boost N1trn Grip](https://wabusinessnewsng.com/first-holdco-ownership-otedola-acquires-n77bn-more-shares-to-boost-n1trn-grip/): The chairman of First HoldCo, Plc, Femi Otedola, has increased his shareholding in the financial Holding company to 21.96 percent stake. According to a statement on share dealing by an insider obtained from the Nigerian Exchange (NGX) on Wednesday, Otedola acquired 706.13 million shares to boost his stake from 20.42 percent on Wednesday. The transaction, valued at N77.58 billion, increased the volume of First HoldCo shares Otedola holds, from 9.28 billion to 9.99 billion shares. Following the acquisition, made through his investment vehicle, Calvados Global Services Limited, Otedola’s total investment in First HoldCo is now worth N1.04 trillion, based on […]
- [UNN VC Laments Low South-East Uptake of FG’s Students Loan](https://wabusinessnewsng.com/unn-vc-laments-low-south-east-uptake-of-fgs-students-loan/): South East beneficiaries falls lower than one North-East state BY BONNY AMADI The Vice-Chancellor (VC) of the University of Nigeria, Nsukka (UNN), Professor Simon Uchenna Ortuanya, has expressed concern over the low participation of students from the South-East in the Federal Government’s Nigerian Education Loan Fund (NELFUND). He revealed that only about 7,201 UNN students have so far benefited from the interest-free loan scheme. Ortuanya described the level of participation as worrisome, noting that the total number of NELFUND beneficiaries across the entire South-East remained lower than the figure recorded in a single state in Nigeria’s North-East. The Vice-Chancellor made […]
- [Every year, destructive floods expose Nigeria’s vulnerabilities](https://wabusinessnewsng.com/every-year-destructive-floods-expose-nigerias-vulnerabilities/): BY EBUKA UKOH Across West Africa, cities are expanding faster than infrastructure. Wetlands that once absorbed floodwaters have been built over. Natural waterways have narrowed under unplanned development. Drainage systems designed for smaller populations now serve millions more people. Climate change has intensified rainfall, but poor placement has multiplied its consequences. Lagos State, like several others this year, was on the national news diet. You can trust that it was for the wrong reason. Every rainy season, we say the same things: “The rain was too much.” “Flood everywhere.” “It happened unexpectedly. What do we do now?” Then, perhaps the […]
- [AfDB to provide $13 million to bolster Ebola response-outbreak](https://wabusinessnewsng.com/afdb-to-provide-13-million-to-bolster-ebola-response-outbreak/): The African Development Bank Group has approved grants worth USD 13 million to enhance national emergency responses to the Ebola virus disease (EVD-B) outbreak. The AfDB grant will also strengthen efforts to arrest the spread of Ebola in the Democratic Republic of Congo (DRC), South Sudan and Uganda. On 15 May 2026, DRC announced a new outbreak of Ebola virus disease centred in Ituri province, in the east of the country, and also affecting Bunia, Rwampara and Mongwalu. The funding package comprises a grant of USD 10 million drawing on reallocated resources from the Bank Group’s DRC portfolio, and which […]
- [CSCS Declares First Ever Interim Dividend, N1.00/share](https://wabusinessnewsng.com/cscs-declares-first-ever-interim-dividend-n1-00-share/): Following Record H1 2026 Performance• ….186% growth in operating profit The Board of Directors of Central Securities Clearing System (CSCS) Plc has approved an interim dividend of N1.00 per ordinary share for the six months ended 30 June 2026, marking the first interim dividend in the Company’s history. The decision reflects the Company’s record first half financial performance, strong cash generation, resilient balance sheet and the Board’s confidence in the sustainability of its earnings. The CSCS Plc interim dividend also reflects the Company’s continued ability to reward shareholders while maintaining the financial capacity to invest in technology, innovation and future […]
- [Nigeria’s Health Minister Visits Aster DM Healthcare in UAE to Discuss Collaboration](https://wabusinessnewsng.com/nigerias-health-minister-visits-aster-dm-healthcare-in-uae-to-discuss-collaboration/): Dr. Iziaq Adekunle Salako, the Honourable Minister of Health from Nigeria, headed a senior delegation from the Ministry of Health and the Consulate of Nigeria to Dubai for an official visit to Aster DM Healthcare’s UAE facilities. The visit aimed to explore opportunities for collaboration in healthcare training, capacity building, and knowledge sharing between Nigeria’s Ministry of Health and Aster DM Healthcare Dr. Salako witnessed firsthand the international standards of care and medical excellence that Aster provides through its extensive network of hospitals, clinics, and pharmacies in the region. The leadership team of Aster DM Healthcare warmly welcomed the delegation, […]
- [Recapitalisation: Analysts Commend FCMB’s Fiscal Turnaround](https://wabusinessnewsng.com/recapitalisation-analysts-commend-fcmbs-fiscal-turnaround/): Say FY2025 Earnings Most Impactful in Company’s Recent History FCMB Group Plc has entered what financial analysts describe as one of the most decisive phases in its corporate history, following a remarkable turnaround in its financial performance that has strengthened investor confidence and reinforced the group’s long-term growth prospects. This comes after the company’s successful recapitalisation, which preserved its international banking licence. The financial holding company delivered an exceptional performance in its audited results for the financial year ended December 31, 2025, posting a 141.72 percent surge in profit before tax to N160.3 billion from N66.3 billion in 2024. Profit […]
- [Nigeria’s Rising Debt not as People Think....Oyedele to senate](https://wabusinessnewsng.com/nigerias-rising-debt-not-as-people-think-oyedele-to-senate/): N40trn added to debt stock via naira devaluation N35trn added to debt stock via ways & means securitisation N33trillion added to debt without new borrowing…. Senator Monguno BY BONNY AMADI Nigeria’s minister of finance and coordinating minister of the economy, Taiwo Oyedele says the sharp increase in Nigeria’s public debt is largely the result of naira depreciation and accounting adjustments rather than fresh borrowing by the Bola Tinubu administration. Oyedele spoke on Monday while briefing the senate committee on finance on the state of the nation’s economy. The minister was responding to questions from Adamu Aliero, senator representing Kebbi central, […]
- [More Students killed, ’46 rescued’ as troops foil ISWAP abduction attempt in Borno school](https://wabusinessnewsng.com/more-students-killed-46-rescued-as-troops-foil-iswap-abduction-attempt-in-borno-school/): An unidentified number of students have been reportedly killed as troops of Operation Hadin Kai and personnel of the Nigeria Police Mobile Force (MOPOL) have foiled an attempt by Islamic State West Africa Province (ISWAP) terrorists to abduct students at the Federal Government Girls College (FGGC), Monguno, Borno state. Mohammed Goni, acting military information officer of Operation Hadin Kai, in a statement on Sunday, said 46 students were rescued during the operation. The terrorists were said to have attacked the school at about 1:30am on Saturday after allegedly gaining access with the assistance of suspected collaborators. Goni said the FGGC […]
- [Over 400 -700 million lack safe water, basic hygiene In Africa....World Bank](https://wabusinessnewsng.com/over-400-700-million-lack-safe-water-basic-hygiene-in-africa-world-bank/): Turning Africa’s water crisis from an emergency to economic opportunity The world Bank in its latest publication of the Voices writes that the scarcity of safe water in Africa, which places about 400 million people in lack of safe water, provides immense opportunities for the continent. The report said that Africa does not have a water problem, rather.  Africa has a water opportunity; what is missing is not the water, but the infrastructure, institutions, and financing needed to transform water into jobs, growth, food security, and resilience. It noted that Africa has seen its population grow from 800 million to […]
- [NBA Elects Badejo-Okusanya, 33rd President](https://wabusinessnewsng.com/nba-elects-badejo-okusanya-33rd-president/): The Nigerian Bar Association (ECNBA) Electoral Committee has announced Oyinkansola Badejo-Okusanya as the 33rd president of the law association. Announcing the results at the NBA national secretariat in Abuja after the conclusion of the election on Sunday, Aham Ejelam, chairman of the ECNBA, said Badejo-Okusanya polled 12,317 votes, representing 47.18 percent of the total votes cast, to defeat her closest challenger, Lateef Akangbe, who secured 7,934 votes, representing 30.39 percent. Olumuyiwa Akinboro, the third presidential candidate, polled 5,855 votes, representing 22.43 percent of the total votes. The poll recorded 26,106 votes from 82,172 registered voters, representing a 31.86 percent participation […]
- [Nigeria raises N5.08 trillion from domestic bonds in H1 2026](https://wabusinessnewsng.com/nigeria-raises-n5-08-trillion-from-domestic-bonds-in-h1-2026/): Up 77.8%, as borrowing to finance fiscal needs •May crowd out private sector credit Nigerian government’s commitment to boost the domestic bond market attained its peak in the first half of 2026 (H1 2026) with 78 percent year on year (Y/Y) increase in local borrowing, compared with the same period in 2025. Nigeria’s Federal Government raised N5.08 trillion from the domestic bond market in the first half of 2026, up 77.8% from a year earlier. The elevated borrowing is driven by the government’s intensified need for more fund to finance fiscal needs. However strong investor demand pushed total subscriptions above […]
- [Equity Investors Position ahead of H1 26: Earnings Releases](https://wabusinessnewsng.com/equity-investors-position-ahead-of-h1-26-earnings-releases/): As Buy sentiments intensifies BY BONNY AMADI The NGX equity investors are currently positioning for H1 2026 corporate earnings releases as expressed in the week ended July 17. However, in the new week, it is expected the market is likely to trade with a mixed but Cautious optimism, as investors position ahead of likely interim dividend declarations. Meanwhile, the NGX equities market closed the week on a mixed note, as varying levels of buying interest across major counters shaped overall investor sentiment. The benchmark NGX All-Share Index (ASI) declined by 0.14% week-on-week to close at 243,462.13 points. Despite the marginal […]
- [A Tribute to a Rare Gift of God: Celebrating Prof. Olatunji Dare on His Birthday](https://wabusinessnewsng.com/a-tribute-to-a-rare-gift-of-god-celebrating-prof-olatunji-dare-on-his-birthday/): BY ROBERT UWEMEDIMO There are moments in life when one pauses to reflect on the people whose presence has profoundly altered the course of one’s journey. Such moments remind us that while family is often defined by blood, destiny is frequently shaped by those whom God deliberately places in our path. Today, as I celebrate the birthday of my Godfather, Prof. Olatunji Dare, I am overwhelmed with gratitude for the immeasurable blessings that have come into my life through this remarkable man. Some relationships are born out of family ties; others are born out of divine purpose. My relationship with […]
- [AfDB, Partners Champion Gender, Child Statistics](https://wabusinessnewsng.com/afdb-partners-champion-gender-child-statistics/): As Cameroon hosts Africa’s first continental forum The first African Forum on Gender and Child Statistics (AGCSF 2026) concluded on 10 July in Yaoundé with a renewed commitment from African governments and development partners to strengthen statistical systems in order to produce more reliable, harmonised and disaggregated information to guide public policies in favour of women and children. The Forum was organised by the African Development Bank Group, the African Union Commission, the United Nations Economic Commission for Africa (ECA), UN Women and UNICEF, in collaboration with the National Institute of Statistics of Cameroon (INS). Over five days, participants engaged […]
- [BOI to Channel 70% of €85m EIB Facility to Drive Nigeria’s Cocoa, Dairy Sectors](https://wabusinessnewsng.com/boi-to-channel-70-of-e85m-eib-facility-to-drive-nigerias-cocoa-dairy-sectors/): Nigeria’s foremost Development finance institution, Bank of Industry (BOI) has secured a €60 million credit facility from the European Investment Bank to fund Nigeria’s cocoa and dairy value addition drive, with a focus on processing, ingredients and chocolate manufacturing. The Managing Director/ CEO of BOI, Dr. Olasupo Olusi, disclosed this on Tuesday, July 14, during the Africa Cocoa Summit convened in Abuja on July 14 by the Federal Ministry of Industry, Trade and Investment with the aim of transitioning Africa from exporting raw beans to local processing and branding. Also known as the Cocoa Value Addition Summit with the theme: […]
- [AMANO Backs Preservation of MAN Oron’s Specialised Status](https://wabusinessnewsng.com/amano-backs-preservation-of-man-orons-specialised-status/): Lauds Oyetola’s Maritime Reforms The President of the Alumni of the Maritime Academy of Nigeria, Oron (AMANO), Mr Emmanuel Maiguwa, on Wednesday commended the Minister of Marine and Blue Economy, Dr Adegboyega Oyetola for driving the development and adoption of Nigeria’s first-ever National Policy on Marine and Blue Economy, describing it as a landmark achievement that provides the country with a comprehensive strategic framework for the sustainable development, regulation and management of its vast marine resources. He also praised Dr Oyetola for what he further described as the Minister’s visionary leadership and transformative reforms that are repositioning Nigeria’s maritime sector […]
- [US House passes bill to cut foreign aid to Nigeria](https://wabusinessnewsng.com/us-house-passes-bill-to-cut-foreign-aid-to-nigeria/): The US House of Representatives has passed a fiscal year spending bill with provisions to cut foreign assistance to Nigeria over alleged targeted violence against Christians and other vulnerable communities. The National Security, Department of State and Related Programs Appropriations Act for the 2027 fiscal year was passed by the House on Wednesday in a 217-209 vote. This bill contains a provision to withhold all foreign assistance to Nigeria until the US can certify that the Nigerian government is taking effective steps to protect Christians from violence. The bill demands “holding foreign governments and bad actors accountable for persecuting people […]
- [Unclaimed Dividend: SEC Launches Nationwide Recovery Campaign](https://wabusinessnewsng.com/unclaimed-dividend-sec-launches-nationwide-recovery-campaign/): BY BONNY AMADI The Securities and Exchange Commission (SEC) has commenced a nationwide enlightenment campaign to help Nigerians recover unclaimed dividends and other monies arising from capital market transactions. The campaign, which began with a town hall meeting in Lagos on Thursday, is aimed at sensitising investors on the existence of unclaimed monies, the role of the National Investor Protection Fund (NIPF) and the procedures for verifying and recovering legitimate claims. The SEC Director-General, Emomotimi Agama, who was represented at the event by the Director, Registration and Exchanges, Market Infrastructure Department, Hafsat Rufai, said the initiative was necessary to ensure […]
- [From Small Start to Breakthrough: Inspiring stories of FCT Entrepreneurs](https://wabusinessnewsng.com/from-small-start-to-breakthrough-inspiring-stories-of-fct-entrepreneurs/): BY GRACE ABE A popular Yoruba proverb says, “Bí a bá fẹ rìn jìnà, a gbọdọ bẹrẹ pẹlú ìgbésẹ kan”, meaning, a long journey begins with a single step. The proverb reflects the reality that major achievements often start from humble beginnings. The saying underscores the experiences of many entrepreneurs who gradually build successful ventures through patience, consistency and determination despite limited initial resources. Business experts say, starting small should not be seen as a setback but as a strategic foundation for learning, adaptation and sustainable expansion over time. In separate interviews with the News Agency of Nigeria (NAN), a […]
- [Gunmen abduct Kogi school principal, NECO official, students during exam](https://wabusinessnewsng.com/gunmen-abduct-kogi-school-principal-neco-official-students-during-exam/): Gunmen have abducted the principal of Government Secondary School, Odo-Ekina, one National Examinations Council (NECO) ad-hoc official and four students during the ongoing NECO examination in Dekina Local Government Area of Kogi State. The spokesperson of the Kogi State Police Command, Salisu Oyiza, confirmed the incident in a statement on Wednesday, saying the attack occurred at about 5:25 p.m. on Tuesday while candidates were writing the examination. During the incident, four students, the school principal and one NECO ad hoc staff member were abducted by the attackers,” Ms Oyiza said. She said a combined team of the police and other […]
- [UN Probe Into Mass Abduction: Oyo Assembly Backs Makinde](https://wabusinessnewsng.com/un-probe-into-mass-abduction-oyo-assembly-backs-makinde/): Amid Senate’s rejection The Oyo State House of Assembly, South West Nigeria, has thrown its weight behind Governor Seyi Makinde’s call for an independent international investigation into the abduction of pupils and teachers from schools in Oriire Local Government Area of the state, insisting that such a probe would strengthen Nigeria’s security architecture rather than undermine it. The Assembly’s position comes hours after the Nigerian Senate cautioned the governor on Tuesday against seeking the involvement of the United Nations, arguing that the incident was a domestic security matter that should be handled within Nigeria. In a statement issued on Tuesday […]
- [BOI secures €60m EIB facility to boost cocoa processing, chocolate manufacturing](https://wabusinessnewsng.com/boi-secures-e60m-eib-facility-to-boost-cocoa-processing-chocolate-manufacturing/): The Bank of Industry (BOI) says it has secured a €60 million credit facility from the European Investment Bank (EIB) to support cocoa value addition in Nigeria, with financing targeted at processing, ingredient manufacturing, packaging and chocolate production. Olasupo Olusi, managing director of BOI, announced the facility on Tuesday at the Cocoa Value Addition Summit in Abuja, themed ‘From Bean to Brand’. Olusi said the funding is part of the bank’s strategy to mobilise blended and concessional financing for the cocoa sector while addressing the high cost of capital faced by local processors. “An example of this is the €60 […]
- [BUA Foods Unveils Next Growth Phase with Major Capacity Expansion, New Product Categories](https://wabusinessnewsng.com/bua-foods-unveils-next-growth-phase-with-major-capacity-expansion-new-product-categories/): With N504 Billion Dividend Approval BUA Foods Plc has unveiled an ambitious new phase of growth that will significantly expand its manufacturing capacity, strengthen Nigeria’s food security and accelerate its emergence as the country’s largest food manufacturing company, as shareholders endorsed the Company’s long-term strategic direction at its 5th Annual General Meeting held at Transcorp Hilton Hotel, Abuja. The expansion programme, one of the most significant in the Company’s history, includes a substantial increase in wheat milling capacity, the planned introduction of noodles into its product portfolio, the finalisation of its edible oils business and continued investments across its integrated […]
- [Nigerian Alarming Food Inflation: Kogi, Niger, Benue Top List](https://wabusinessnewsng.com/nigerian-alarming-food-inflation-kogi-niger-benue-top-list/): …. As Prices Soar –NBS BY BONNY AMADI Nigerian states continue to record alarming food inflationary trends, as food prices continue to skyrocket, remaining under intense pressure across several states. In June 2026, Kogi, Niger and Benue recorded the highest year-on-year food inflation rates, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS). The NBS report showed that while Nigeria’s headline food inflation rate stood at 17.52 per cent on a year-on-year basis in June 2026, significant disparities existed across states, with Kogi recording a staggering 53.02 per cent, the highest in […]
- [Seplat, Aradel, Oando, others to Bring Upstream Know-How to AEW in Cape Town](https://wabusinessnewsng.com/seplat-aradel-oando-others-to-bring-upstream-know-how-to-aew-in-cape-town/): Nigeria’s largest indigenous oil and gas operators have joined the African Energy Week (AEW) Conference and Exhibition, taking place in Cape Town from October 12-16, 2026, to strengthen regional collaboration and advance Africa’s next wave of upstream projects. Speakers include the companies at the centre of a structural shift in Nigeria’s upstream sector, where local operators have acquired more than $6 billion in assets divested by international majors and now account for approximately 60% of the country’s crude production. Oando PLC Group Chief Executive Wale Tinubu will attend alongside Dr. Alex Irune, Executive Director of Oando PLC and Managing Director […]
- [Atiku urges Tinubu: Suspend Gbaja to allow probe as Buhari did Babachir Law](https://wabusinessnewsng.com/atiku-urges-tinubu-suspend-gbaja-to-allow-probe-as-buhari-did-babachir-law/): Atiku Abubakar, presidential candidate of the African Democratic Congress (ADC), has asked President Bola Tinubu to suspend Femi Gbajabiamila, chief of staff, to allow for “unfettered” investigation of allegations against him. In a statement issued by Paul Ibe, media aide, on Tuesday, Atiku said “silence and indifference” cannot take away the “unfolding” corruption allegations against Gbajabiamila. The former vice-president cited how former President Muhammadu Buhari suspended Babachir Lawal, secretary to the government of the federation, to allow for investigation, adding that Gbajabiamila should not be treated differently. Atiku expressed shock over the recent allegations of “illegally cornering tens of billions […]
- [Oyetola Lauds SWDC Managing Director Charles Akinola at 70](https://wabusinessnewsng.com/oyetola-lauds-swdc-managing-director-charles-akinola-at-70/): Nigerian Minister of Marine and Blue Economy, His Excellency Dr Adegboyega Oyetola, has congratulated his former Chief of Staff and current Managing Director of the South West Development Commission (SWDC), Dr Charles Akindiji Akinola, on the occasion of his 70th birthday, describing him as an outstanding public servant, accomplished development strategist and trusted ally whose contributions have left an enduring mark on governance and national development. In a congratulatory message, Oyetola lauded Akinola’s intellect, integrity and commitment to public service, noting that he had consistently demonstrated visionary leadership in every position he had occupied. He said Akinola’s years of service […]
- [Reps withdraw passage of State Police bill, consider Tinubu’s version](https://wabusinessnewsng.com/reps-withdraw-passage-of-state-police-bill-consider-tinubus-version/): The Nigerian House of Representatives has rescinded its decision on the passage of the state police bill. The lower legislative chamber withdrew its earlier approval of the proposed legislation after Francis Waive, chairman of the committee on rules and business, moved a motion to reconsider the bill. Waive said new facts have emerged regarding the bill’s provisions, necessitating a critical review of its clauses to ensure alignment with the country’s national security architecture. He said the house needed to reverse its June 11 decision and dissolve the conference committee established to harmonise the proposed legislation with the senate’s version. The […]
- [Senate orders Makinde: Withdraw Call for UN Probe of Oyo School Abduction](https://wabusinessnewsng.com/senate-orders-makinde-withdraw-call-for-un-probe-of-oyo-school-abduction/): BY BONNY AMADI Nigerian senate has asked Seyi Makinde, governor of Oyo state, to withdraw his demand for a United Nations (UN)-led investigation into the abduction and rescue of schoolchildren and teachers in Ogbomoso. The resolution followed the adoption of a prayer by Adams Oshiomhole, senator representing Edo north, during debate on a motion commending President Bola Tinubu, the armed forces and other security agencies for rescuing the victims after 56 days in captivity. The debate of the substantive motion was sponsored by Opeyemi Bamidele, the senate leader, and 108 senators. It will be recalled that on Monday, Makinde called […]
- [Nigeria’s Private Sector Launches Gender Country Program to Unlock Inclusive Growth.](https://wabusinessnewsng.com/nigerias-private-sector-launches-gender-country-program-to-unlock-inclusive-growth/): Senior government officials, regulators, development finance institutions and business leaders have launched the Nigeria Gender Country Program (NGCP), signalling a coordinated push to position gender inclusion as a driver of business competitiveness, investment and long-term economic growth. The initiative, led by the International Finance Corporation (IFC), a member of the World Bank Group, in partnership with Nigerian Exchange Group (NGX Group) and the Lagos Chamber of Commerce and Industry (LCCI), aligns advisory expertise, funding and partnerships to strengthen women’s representation in leadership, improve access to quality employment, and expand access to finance, technology and markets for women and women-led businesses. […]
- [World Economy Poised for ‘Modest Slowdown’ to 3% growth](https://wabusinessnewsng.com/world-economy-poised-for-modest-slowdown-to-3-growth/): Global growth this year is likely to slow slightly more than previously projected, while the disinflation trend over the past two years has stalled, according to the World Economic Outlook Update, released on July 8th. Growth is forecast decelerate to 3 percent, less than the 3.1 percent projection in the April WEO and slower than the 3.5 percent growth in each of the past two years. The estimate for global inflation this year was raised to 4.7 percent, an increase of 0.3 percentage points. The “modest slowdown” in economic growth reflects the impact of the war in the Middle East […]
- [Oando Generates N204bn Profit, Uplift Across Production, Trading Volumes in FY2025](https://wabusinessnewsng.com/oando-generates-n204bn-profit-uplift-across-production-trading-volumes-in-fy2025/): Oando PLC Africa’s leading indigenous energy solutions provider, listed on the Nigerian Exchange Ltd. (NGX) and Johannesburg Stock Exchange (JSE), announced its audited results for the financial year ended 31 December 2025, delivering a 32% increase in average daily production to 32,482 barrels of oil equivalent per day (boepd) and Profit After Tax of N204.8 billion. FY2025 marked a transition year for the Group, with the first full year contribution from the Nigerian Agip Oil Company (NAOC) Joint Venture assets and a shift from acquisition-led growth to operational execution and balance sheet optimisation. Supporting this performance, the Group generated N258.3 […]
- [Benue Boils as Suspected herders kill scores weeks after MACBAN chief’s murder](https://wabusinessnewsng.com/benue-boils-as-suspected-herders-kill-scores-weeks-after-macban-chiefs-murder/): Benue state is reportedly in turmoil as a result of mass murder in fresh attacks by suspected armed herdsmen on communities in Otukpo Local Government Area of Benue State. The latest killings are being unleashed weeks after the killing of the state chairman of the Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN), Ardo Risku. Local media organisations, including Idoma Television, reported that the attacks began on Saturday when suspected herders invaded Akpachi village in Ugboju community, killing two residents and injuring several others. The attackers reportedly struck again in the early hours of Sunday, invading OtukpoNobi, where at least […]
- [WAEC, NECO Exam Fee Now N50,000 from N27,500             ](https://wabusinessnewsng.com/waec-neco-exam-fee-now-n50000-from-n27500/): As FG Endorse 82% hike BY BONNNY AMADI Nigerian president Bola Tinubu led federal government says it has approved N50,000 as the new examination fee for the West African Examinations Council (WAEC) and the National Examinations Council (NECO) for secondary school candidates from 2027. In a statement on June 18, issued by Adeniji Ibrahim, director of senior secondary education of the ministry of education, the approval followed a request by WAEC for an upward review of the fee for Senior School Certificate Examination (SSCE) for candidates from 2027. The initial registration fee was N27,500, which means the new increment comes […]
- [BEAC Joins PAPSS, Connecting Payments Between CEMAC, Rest of Africa](https://wabusinessnewsng.com/beac-joins-papss-connecting-payments-between-cemac-rest-of-africa/): The Bank of Central African States (BEAC) has officially joined the Pan-African Payment and Settlement System (PAPSS), marking a significant step in strengthening Africa’s cross-border payment infrastructure and opening a new chapter for financial integration in Central Africa while driving greater intra-African trade. As one of only two regional central banks on the continent, BEAC serves the six member countries of the Central African Economic and Monetary Community (CEMAC) — Cameroon, Central African Republic, Republic of Congo, Gabon, Equatorial Guinea and Chad. Its participation provides PAPSS with a strategic entry point into Francophone Africa and significantly expands the reach of […]
- [NGX Exchange emerges World’s best](https://wabusinessnewsng.com/ngx-exchange-emerges-worlds-best/): Overtakes South Korean market NGX Exchange equities market has overtaken South Korea’s stock market to become the world’s best performing equity market in dollar terms this year, buoyed by macroeconomic reforms, improved foreign exchange liquidity and renewed investor confidence. Bloomberg report on Thursday, pointed that Nigeria’s benchmark stock index has returned 67 percent in dollar terms since the beginning of the year. The performance edged South Korea’s Kospi index, which has gained 66 percent, among the 92 global stock exchanges tracked by the publication. The report said South Korea lost its lead after the Kospi slipped into a technical bear […]
- [Renaissance Makes Offshore Oil Discovery at Oil Mining Lease (OML) 74](https://wabusinessnewsng.com/renaissance-makes-offshore-oil-discovery-at-oil-mining-lease-oml-74/): Strengthening Nigeria’s Production Growth Strategy Nigerian integrated energy company Renaissance Africa Energy (Renaissance) has announced a new oil discovery at the JK-004 exploration well in Oil Mining Lease (OML) 74, offshore Nigeria. The discovery marks another milestone for indigenous participation in the country’s upstream sector and supports Nigeria’s strategy to expand crude oil reserves, increase production and strengthen long-term energy security. The African Energy Chamber (AEC) – as the voice of the African energy sector – commends Renaissance for the discovery, which demonstrates the increasing technical capability of Nigerian companies to lead complex offshore exploration campaigns traditionally dominated by international […]
- [SEC DG calls for policy consistency as S&P places Nigeria on 2027 watchlist](https://wabusinessnewsng.com/sec-dg-calls-for-policy-consistency-as-sp-places-nigeria-on-2027-watchlist/): The Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has called for sustained policy consistency and operational resilience across Nigeria’s financial system following the country’s placement on the S&P Dow Jones Indices (S&P DJI) 2027 Watchlist for possible reclassification from a Standalone to a Frontier Market. In a strategy and position paper titled “Nigeria’s Path to Index Reclassification: A Unified Strategy on Policy Consistency and Operational Resilience,” Agama said the S&P DJI decision, alongside an ongoing Frontier Market review by FTSE Russell, represents the country’s most significant opportunity in a decade to regain global investor confidence and […]
- [Senate to Repeal, re-enact Criminal Justice Act in Four Weeks](https://wabusinessnewsng.com/senate-to-repeal-re-enact-criminal-justice-act-in-four-weeks/): As Tinubu’s demands expeditious consideration Repeal, re-enact criminal justice act ‘to tackle act ‘to tackle trial delays’…. Tinubu to Senate BY BONNY AMADI The Nigerian senate is expected to repeal the country’s criminal justice and re-enact a new one within a period of four weeks. This is in line with the president’s demand who in his letter to the red chamber on the criminal justice repeal, demanded for expedited action. Tinubu urged the senate to give the bill expeditious consideration. The senate president, Godswill Akpabio said, “In the light of the above, it is my hope that the Senate would […]
- [UTM Offshore, Seplat Energy, NNPC Sign Gas Supply Agreement](https://wabusinessnewsng.com/utm-offshore-seplat-energy-nnpc-sign-gas-supply-agreement/): for Nigeria’s First Indigenous FLNG Project UTM Offshore has signed a Gas Sales Agreement (GSA) with oil and gas company Seplat Energy and the Nigerian National Petroleum Company (NNPC), marking a vital step forward in the development of Nigeria’s first indigenous-led FLNG project. The agreement represents one of the final commercial building blocks ahead of a final investment decision, reinforcing confidence in a project that is expected to support Nigeria’s gas monetization strategy while expanding LNG exports and domestic gas utilization. The African Energy Chamber (AEC) – representing the voice of the African energy sector – commends UTM Offshore, the […]
- [Aviation Safety: Under threat with National Assembly’s proposed funding cuts.... Warns NCAA](https://wabusinessnewsng.com/aviation-safety-under-threat-with-national-assemblys-proposed-funding-cuts-warns-ncaa/): The Nigeria Civil Aviation Authority (NCAA) has warned that plans to reduce its statutory share of the five per cent Ticket Sales Charge (TSC) could undermine aviation safety and weaken its ability to effectively regulate Nigeria’s aviation industry. The warning comes as the National Assembly considers a bill seeking to reduce the NCAA’s share of the TSC in favour of the Nigerian Airspace Management Agency (NAMA). Under the existing arrangement, the NCAA collects the five per cent Ticket Sales Charge and distributes the proceeds among key aviation agencies, including NAMA, the Nigerian Meteorological Agency (NiMet), the Nigerian College of Aviation […]
- [UK Court Cannot Decide Uganda’s, Africa’s Energy Future](https://wabusinessnewsng.com/uk-court-cannot-decide-ugandas-africas-energy-future/): Let Uganda, Africans Make Their Energy Choices Four Ugandan farmers have launched a legal challenge in the UK High Court against the East African Crude Oil Pipeline (EACOP), seeking to apply Ugandan constitutional, environmental and climate law to EACOP Ltd., the project’s UK-registered operating company. Filed mere months before the pipeline is expected to begin transporting Uganda’s first crude exports, the case argues that the 1,445-km pipeline breaches Uganda’s legal protections and asks the English court to prevent the project from becoming operational. This is clearly nothing but the latest example of foreign-backed litigation targeting strategically important African energy projects […]
- [UBA Foundation Partners Slum2School to Equip Pupils with Financial Literacy Skills](https://wabusinessnewsng.com/uba-foundation-partners-slum2school-to-equip-pupils-with-financial-literacy-skills/): Introduces Money Explorers Book to Inspire Culture of Saving UBA Foundation, the Corporate Social Responsibility arm of the United Bank for Africa (UBA) Group, has strengthened its commitment to financial education by partnering with Slum2School Africa to deliver a hands-on financial literacy workshop for underserved children, equipping them with essential money management skills from an early age. At the heart of the initiative was the UBA Money Explorers Book, an engaging learning companion designed to introduce children to the fundamentals of financial literacy through interactive stories, practical money ledgers, games and activities. The programme also introduced pupils to the UBA […]
- [Budget Poor Implementation: Reps Void Bid to summon Tinubu](https://wabusinessnewsng.com/budget-poor-implementation-reps-void-bid-to-summon-tinubu/): BY BONNY AMADI The Nigerian House of Representatives on Wednesday descended into a heated and rowdy session as lawmakers clashed over an attempt to summon President Bola Tinubu to explain the poor implementation of the 2025 budget, the delayed release of appropriated funds, and worsening funding gaps affecting ministries, departments, and agencies (MDAs). The controversy began when Benedict Etanabene, who represents Okpe/Sapele/ Uvwie Federal Constituency of Delta State, raised the issue under a matter of personal explanation, calling on the House to invite President Tinubu to account for the persistent failure to implement budgets despite trillions of naira approved by […]
- [Nigerian Operators Boost Africa-Wide Energy Collaboration at AEW 2026](https://wabusinessnewsng.com/nigerian-operators-boost-africa-wide-energy-collaboration-at-aew-2026/): Leading Nigerian oil and gas operators are set to play a major role at African Energy Week (AEW) 2026, bringing upstream expertise, project development experience and investment momentum to Cape Town as Africa seeks to accelerate regional energy collaboration. Their participation reflects a growing push by Nigerian producers to engage more closely with regional and international stakeholders on new field development, gas commercialization and long-term energy investment. TotalEnergies’ Nigeria Managing Director and Country Chair Matthieu Bouyer will attend alongside former TotalEnergies Managing Director Adewale Fayemi. A strategic player in the country’s upstream market, TotalEnergies continues to operate key deepwater assets […]
- [PFIPC Saga: Lawmakers Won’t Intervene Without petition.... Spokesperson](https://wabusinessnewsng.com/pfipc-saga-lawmakers-wont-intervene-without-petition-spokesperson/): Even with a budget line in the 2026 Appropriation Act which originated from the executive arm of government, Nigerian Senate says it will not probe the Presidential Foreign Intervention Promotion Council (PFIPC) without a formal petition. The senate says it will not intervene in the controversy surrounding the disowned Presidential Foreign Intervention Promotion Council (PFIPC) unless a formal petition is tendered before it. Yemi Adaramodu, senate spokesperson, relayed this to journalists after plenary on Tuesday. The controversy centres on the existence of the PFIPC and claims by Adeniyi Adeyemi, who describes himself as the agency’s director-general, that Femi Gbajabiamila, chief […]
- [Ghana defers Ramaphosa’s visit over anti-migrant attacks in South Africa](https://wabusinessnewsng.com/ghana-defers-ramaphosas-visit-over-anti-migrant-attacks-in-south-africa/): Ghana has postponed a visit by Cyril Ramaphosa, president of South Africa, following the recent anti-migrant tensions in the former apartheid country. Some Ghanaians were among Africans who had been assaulted by a group of South Africans targeting undocumented migrants. Samuel Ablakwa, Ghana’s foreign affairs minister, summoned Thando Dalamba, South African acting high commissioner in the country, to express Ghana’s “strong concern” over the reported intimidation and harassment of foreign nationals. Weeks later, the Ghanaian government began repatriating its citizens from the country. On Tuesday, there were reports that Ghana rejected a planned state visit from Ramaphosa. The reports alleged […]

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