RMRDC Pushes Local Raw Materials Drive to Boost Industrial Growth
By Julian Osamoto The Raw Materials Research and Development Council (RMRDC) says Nigeria’s drive toward local raw materials utilisation, import substitution, and value addition remains critical to achieving sustainable industrial growth and economic diversification. Director-General and Chief Executive Officer of the Council, Professor Nnanyelugo Ike-Muonso, stated this at the RMRDC in Abuja, while assessing the […]
NDIC Boosts Deposit Funds to Protect Depositors
By Oluwakemi Kindness The Nigeria Deposit Insurance Corporation (NDIC) says it is intensifying efforts to strengthen its Deposit Insurance Funds (DIFs) as part of measures to safeguard Nigeria’s financial system and protect bank depositors. The Managing Director and Chief Executive of the NDIC, Thompson Sunday, disclosed this during a courtesy visit to the Director-General of […]
CBN Rejects Interventionist Policies, Backs Orthodox Strategy
By Oluwkaemi Kindness The Governor of the Central Bank of Nigeria, Olayemi Cardoso, says the bank will not return to interventionist measures that previously weakened policy credibility. This is as he reaffirmed the apex bank’s commitment to orthodox monetary policy, transparency, and evidence-based decision-making. Cardoso stated this during the opening session of the Monetary Policy […]
CBN Holds Interest Rate at 26.5% Amid Rising Inflation Concerns
By Oluwakemi Kindness The Central Bank of Nigeria has retained the benchmark interest rate at 26.5 percent as authorities continue efforts to rein in inflation and stabilise the economy. The decision was announced on Wednesday by the CBN Governor, Olayemi Cardoso, after the 305th meeting of the Monetary Policy Committee in Abuja. Cardoso said all […]
NAICOM Pushes Insurance Reform, Flags Trust Gap in Sector
By Oluwakemi Kindness The National Insurance Commission (NAICOM) says the success of ongoing reforms in Nigeria’s insurance industry will depend on effective implementation of the Nigerian Insurance Industry Reform Act (NIIRA 2025). Speaking at the opening of Insurance Week 2026, the Commissioner for Insurance and Chief Executive of NAICOM, Olusegun Ayo-Omosehins, who was represented by […]
Nigeria Launches Fund to Protect Insurance Customers
By Oluwakemi Kindness Millions of Nigerian insurance policyholders are set to benefit from a new protection fund designed to ensure they are not left stranded if insurers fail. The development on friday followed the inauguration of the Insurance Policyholders Protection Fund (IPPF) Committee. The IPPF is a statutory initiative under Nigeria’s insurance reform framework aimed […]
FG Nears Fresh $1.25bn World Bank Loan Deal
By Sofiat Adenekan-Abdul The Federal Government is moving closer to securing a fresh $1.25 billion loan from the World Bank as efforts intensify to support ongoing economic reforms, stimulate job creation, and improve Nigeria’s business competitiveness. The proposed facility, titled Nigeria Actions for Investment and Jobs Acceleration, has advanced to a critical stage in […]
CBN Warns States Against Excessive Borrowing
By Oluwkemi Kindness The Central Bank of Nigeria has warned that reckless borrowing, unplanned spending, and poor fiscal coordination by State Governments could undermine Nigeria’s planned transition to an Inflation Targeting monetary policy framework. Speaking during an engagement with sub-national stakeholders organised through the Nigeria Governors’ Forum Secretariat, the Deputy Governor in charge of Economic […]
FG Approves Review of Civil Servants Allowances
By AL-KADRIYAR Abdullahi The Federal Government of Nigeria has approved a comprehensive review of key allowances for civil servants as part of efforts to address rising living costs and improve public service delivery. In a statement made available by the National Orientation Agency NOA, says the review, announced through the National Salaries, Incomes and Wages […]
Nigeria Launches First National Industrial Relations Policy
By Chinedu Echianu The Federal Government on Wednesday formally launched Nigeria’s first National Industrial Relations Policy (NIRP), describing it as a major step toward strengthening industrial harmony, promoting decent work and supporting inclusive economic growth. The policy was unveiled at the United Nations Building in Abuja during a ceremony attended by government officials, labour leaders, […]