• IVM Chairman, Dr Innocent Chukwuma (right) in a hearty mood with some delegates shortly after the launch of the Innoson Pan -African Prestige Club . The Chairman of Innoson Vehicle Manufacturing (IVM), Chief Dr. Innocent Chukwuma, announced the launch of the Innoson Pan-African Prestige Club, during the Opening Ceremony of the 2026 First Ordinary…
Business Council for Africa (BCAfrica) has isolated Morocco, Egypt, South Africa and Mauritius as the only economies with the alignment required to sustain industrial growth, while Rwanda and Nigeria show meaningful progress but remain incomplete in their trajectory. BCAfrica disclosed this in its just launched 2025 Real Economic Development (RED) Index on industrial development in…
Image: Lagos Governor Babajide Sanwo-Olu The National Bureau of Statistics (NBS) has ranked Lagos State as the most indebted state in Nigeria, owing creditors a total of N1.22 trillion and $1.17 billion in domestic and external debts, respectively, The statistics body said that Lagos State also recorded the highest external debt over the reference period…
• Saleh Mamman The Federal High Court sitting in Abuja on Thursday convicted a former Minister of Power, Mr Saleh Mamman, of 12 counts of fraud and money laundering, charges preferred against him by the Economic and Financial Crimes Commission (EFCC). Mamman, who served in the administration of former President Muhammadu Buhari, was found complicit…
Aliko Dangote, the billionaire behind Africa’s largest industrial conglomerate, has set his sights on Nigeria’s epileptic power sector with a plan to generate 20,000 megawatts of electricity. Dangote’s entry into the sector follows a string of failed promises from the Nigerian government. Adebayo Adelabu, ex-Power Minister, has repeatedly missed deadlines to stabilise the grid at…
Photo: A coal fired power plant in Hanchuan, Hubei province, China / Getty Images Enugu State Government is on the move to build a 660MW coal-fired power plant in the state. The project is a part of Governor Peter Mbah’s administration’s strategy to actualise its vision to grow the state’s economy from $4.4 billion to…
•Engr Mustafa Bello Jim Ovia, the Founder / outgoing Chairman of Zenith Bank Plc, has announced his successor , Engr Mustafa Bello , to members of the Board and shareholders. Ovia made the introduction yesterday during the bank’s annual general meeting in Lagos. In his remark, Jim Ovia stated, “Distinguished shareholders, it gives me great…
Photo: HURIWA National Coordinator, Emmanuel Onwubiko. The Human Rights Writers Association of Nigeria (HURIWA) is demanding for the immediate and sweeping action by the Federal Government, including a comprehensive overhaul of NAFDAC and SON. HURIWA alleged that the NAFDAC and SON have failed in their statutory responsibilities, allowing Nigeria’s markets to degenerate into a free-for-all…
Zenith Bank Plc has announced the retirement of its founder and Group Chairman, Jim Ovia, following the expiration of his tenure. Ovia, who founded Zenith Bank in 1990, has played a central role in the institution’s growth into one of Nigeria’s leading financial services providers. In a statement issued on Tuesday, the bank said that…
The Nigerian National Petroleum Company Limited (NNPC) has again signed a Memorandum of Understanding (MoU) with two Chinese companies to get the government’s refineries working, especially the Port Harcourt and Warri. The Chinese firms are: Sanjiang Chemical Company Limited, and Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Ltd. The MoU to revamp the refineries…
