By Ayomide Otitoju Dangote Petroleum Refinery imported crude oil worth $3.74 billion in 2025, according to the latest Balance of Payments report released by the Central Bank of Nigeria (CBN), highlighting ongoing structural changes in the country’s oil sector. The CBN noted that the refinery’s crude imports contributed to movements in Nigeria’s current account position,…
By Ayomide Otitoju The MTN Foundation, in partnership with the Bank of Industry (BOI), has opened applications for the third phase of its Y’ellopreneur programme, a ₦1 billion matching-fund initiative aimed at supporting women-led businesses across Nigeria. The programme, implemented through the Enterprise Development Centre of Pan-Atlantic University, is designed to provide female entrepreneurs with…
By Ayomide Otitoju Rite Foods Limited has partnered with RecyclePoints to launch the “Waste-Is-Naira” (W.I.N) initiative, a community-driven programme aimed at promoting recycling and advancing Extended Producer Responsibility (EPR) in Nigeria. The initiative, unveiled at the company’s headquarters in Opebi, Lagos, is designed to convert plastic waste into economic value while strengthening sustainable waste management…
By Atomide Otitoju Bank of Tanzania has made an equity investment in Africa Finance Corporation (AFC), becoming a sovereign shareholder and further strengthening the institution’s capital base and pan-African ownership structure. The investment underscores growing confidence among African sovereign institutions in AFC’s mandate to mobilise long-term capital for infrastructure and industrial development across the continent….
By Ayomide Otitoju Smartphone For All has secured international recognition for its efforts to bridge Africa’s digital divide, winning the 2025 Pinnacle Awards in the Telecoms and Wireless category for Digital Inclusion & Accessibility Champion, as well as the 2026 Merit Award for addressing the digital divide. The Pinnacle Awards, a global platform recognising innovation…
By Ayomide Otitoju Nigeria’s annual food inflation rate increased to 12.2 per cent in February 2026, up from 8.89 per cent recorded in January, signaling renewed pressure on household food costs. In its latest Consumer Price Index (CPI) report, the National Bureau of Statistics (NBS) attributed the rise to increased prices of key staples, including…
By Ayomide Otitoju The Afreximbank Academy (AFRACAD) has announced the commencement of registration for its 2026 Certificate of Trade Finance in Africa (COTFIA), a flagship programme aimed at strengthening trade finance capacity across the continent. According to AFRACAD, registration for the programme—open to banking professionals and other practitioners in trade finance—will close on May 31,…
By Ayomide Otitoju The Federal Competition and Consumer Protection Commission (FCCPC) and the National Agency for Food and Drug Administration and Control (NAFDAC) have commended Rite Foods Limited for its adherence to safe manufacturing practices and its commitment to delivering high-quality products that reinforce consumer confidence. The commendation was given at a stakeholder forum marking…
Artificial intelligence (AI) is increasingly shaping business competitiveness, but cracks in its widespread adoption emerged in 2025 as many organisations reported failed pilot programmes and underwhelming outcomes. Despite the challenges, companies that successfully implemented AI recorded significant productivity gains, largely driven by a strong focus on human capital rather than technology alone. Heinrich Swanepoel, Head…
