By Ayomide Otitoju For many Nigerians, owning a home has long seemed like a distant aspiration. However, the Mortgage Refinancing and Equity Investment Fund (MREIF) home loan offered by FirstBank of Nigeria is helping to reshape that reality by making mortgage financing more accessible. Here are five important things to know about the initiative: 1….
By Ayomide Otitoju The federal government has unveiled plans to boost the manufacturing sector’s contribution to Nigeria’s GDP from the current 8.2% to 15% by 2030 and 25% by 2035, according to the newly launched Nigeria Industrial Policy (NIP), announced by the Federal Ministry of Industry, Trade and Investment (FMITI). The manufacturing sector currently employs…
By Ayomide Otitoju Pernod Ricard Nigeria is strategically positioned to benefit from the growing consumer preference for high-quality international spirits, commonly referred to as premiumisation, the company’s Managing Director, Michael Ehindero, has said. Speaking on the company’s market strategy, Ehindero highlighted that extensive research guides Pernod Ricard Nigeria, helping the company identify growth opportunities and…
By Ayomide Otitoju Dimension Data Nigeria has officially executed its N20 billion ($15 million) Bond Programme under Dimension Data SPV Funding Plc, following approval from the Securities and Exchange Commission (SEC). The signing ceremony, marking the completion of documentation and regulatory clearances, was held at the Capital Club, Victoria Island, Lagos. Speaking at the event,…
By Ayomide Otitoju Lagos State is playing a leading role in reshaping Africa’s urban landscape, Governor Babajide Sanwo-Olu has said, describing the city as a central driver of the continent’s economic and infrastructural growth. Speaking at the John F. Kennedy Jr. Forum hosted by the Harvard Kennedy School Institute of Politics in Boston, Massachusetts, Sanwo-Olu…
OpenAI, the artificial intelligence startup behind ChatGPT, has surpassed $25 billion in annualised revenue as of the end of last month, according to a report by The Information citing a source familiar with the figure. The milestone represents a 17% increase from the $21.4 billion in annualised revenue the company recorded at the end of…
By Ayomide Otitoju The Central Bank of Nigeria (CBN) has added domestically sourced gold, refined to London Bullion Market Association (LBMA) Good Delivery standards, to its foreign reserves, bringing total gold holdings to $3.5 billion, the apex bank announced. The move marks a significant milestone in the CBN’s strategy to diversify its reserves. According to…
By Ayomide Otitoju Justice James Omotosho of the Federal High Court, Abuja has discharged and acquitted suspended Deputy Commissioner of Police Abba Kyari of a 23-count charge related to the alleged non-declaration of assets, brought against him by the **National Drug Law Enforcement Agency (NDLEA). Kyari faced the charges alongside his two brothers, who were…
Israel launched pre-dawn airstrikes on Lebanon early Thursday, hitting a Beirut suburb controlled by Hezbollah, while reporting the interception of missiles fired by Iran. The attacks mark a widening conflict involving United States forces and have sparked new instability in Iraq. Israel warned residents in the targeted areas to evacuate before the strikes. The airstrikes…
