By GLEBM News Desk Nigeria’s grid-connected power plants operated at an average of 86 per cent of their available capacity in August, according to the latest operational data from the Nigerian Electricity Regulatory Commission. The plants had an average available capacity of 4,758 megawatts during the month and generated an average of 4,102 megawatts per…
By GLEBM News Desk Nigeria is intensifying efforts to attract German technology and investment into its steel industry as the Federal Government seeks to expand domestic mineral processing and rebuild industrial capacity around steel production. The initiative is focused on attracting investment in mineral processing, equipment manufacturing, technology transfer and the development of local industrial…
By GLEBM News Desk Mortgage financing options are being expanded for Nigerian workers, self-employed professionals and members of the diaspora seeking to purchase, improve or refinance residential properties. FirstTrust Mortgage Bank has introduced a broader portfolio covering conventional mortgages, mortgage refinancing, home-improvement finance, diaspora mortgages and short-term loans. The development comes as rising construction and…
By GLEBM News Desk Women farmers in Nigeria are calling for improved access to land, agricultural finance and climate information as unpredictable weather patterns increase production risks and threaten farm incomes. The farmers raised the concerns at a climate-focused gathering in Lagos where stakeholders examined the implementation of the BelĂ©m Gender Action Plan and its…
By GLEBM News Desk Twenty-three Nigerian companies have reached financial close on investment transactions valued at more than $630 million through a UK-backed programme aimed at helping African businesses attract capital and expand their operations. The transactions, supported by Manufacturing Africa, have the potential to create or safeguard more than 21,400 direct jobs, according to…
By GLEBM News Desk Nigeria could use its existing agricultural statistics infrastructure as the foundation for a new generation of digital farming services, with the World Bank advocating integrated data systems capable of supporting artificial intelligence applications. The proposed approach would bring together information collected from agricultural surveys with satellite imagery, weather records, soil maps,…
By GLEBM News Desk The Central Bank of Nigeria has reduced its benchmark interest rate to 23 per cent, cutting the Monetary Policy Rate by 350 basis points as policymakers respond to improving inflation and foreign-exchange conditions. The decision was announced by CBN Governor Olayemi Cardoso on Tuesday following the Monetary Policy Committee’s 307th meeting…
By GLEBM News Desk Industrial investment in Nigeria remains heavily concentrated in Lagos and Ogun states, with the two states attracting about ₦1.74 trillion of investment between 2024 and 2025, according to industry data. The figure represents about 87 per cent of total industrial investment recorded across the country during the two-year period, highlighting the…
By GLEBM News Desk Credit extended to Nigeria’s private sector rose to ₦84.55 trillion in August 2026, pointing to continued expansion in bank financing even as businesses continue to contend with elevated borrowing costs and difficult operating conditions. Data from the Central Bank of Nigeria showed that private-sector credit increased by ₦1.13 trillion during the…
By GLEBM News Desk Nigeria’s edible-oil supply chain is facing a potential disruption as the National Union of Edible Oil Tanker Drivers of Nigeria moves ahead with a planned industrial action over a dispute involving the Petroleum Tanker Drivers branch of the Nigeria Union of Petroleum and Natural Gas Workers. The edible-oil tanker drivers had…
