Nigeria Spends $1bn to Upgrade Telecom Infrastructure   Nigeria’s telecommunications sector is set to experience a dramatic improvement in service quality by the third quarter of 2025, driven by a monumental $1 billion investment in network equipment, the Minister of Communications and Digital Economy, Dr...

NCS Impounds Contraband Worth N1.5bn    The Nigeria Customs Service (NCS) Federal Operations Unit, Zone A, Ikeja, said it intercepted seven 20ft containers of contraband worth N1.5bn between April 23, 2025, and to date. The Customs Area Controller in charge of the unit, Mohammed Shuaibu, announced this...

DBN Disburses Over N1trn to MSMEs   The Development Bank of Nigeria Plc (DBN) has announced that it has disbursed over N1tn to Micro, Small and Medium Enterprises (MSMEs) through 79 participating financial institutions across the country. The disclosure was made at a media parley with the...

$600bn Needed Annually for Africa's Energy Development - NUPRC    The Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Gbenga Komolafe, has said that Africa will require more than $600bn annually in upstream oil and gas investment to meet its fast-growing energy demands. He...

TinCan Customs Generates N145bn from Lagos Port in April    The Tincan Island Port Command of the Nigeria Customs Service (NCS) has enhanced trade facilitation, as the level of compliance at the seaport has increased drastically. Already, Controller of the Command, Comptroller Frank Onyeka, said the command...

Electricity Subsidy Bill Surges to N762bn   Electricity subsidy has increased to about N762bn in the first four months of 2025. Figures from various reports of the Nigerian Electricity Regulatory Commission (NERC) showed that the subsidy on power was approximately N178bn in January. It rose to N194bn...