By GLEBM News Desk Shell has agreed to sell its domestic gas distribution business in Nigeria to Vaaris Energy, a development that could reshape ownership and investment priorities in part of the country’s gas supply market. The proposed transaction marks another change in the structure of Shell’s Nigerian portfolio as the international energy company reviews…
By GLEBM News Desk The World Bank Group is seeking to mobilise up to $5.79 billion in private financing for Nigeria, with the investment programme projected to support the creation of approximately 850,000 jobs. The initiative reflects efforts to increase private-sector participation in Nigeria’s economic development, particularly as the country seeks to attract capital, expand…
By GLEBM News Desk Nigeria has been urged to make employment generation a central objective of its technology and economic reforms as the World Bank and International Monetary Fund (IMF) warn that the rapid adoption of artificial intelligence could widen inequality and weaken opportunities for entry-level workers. The warning came as Nigeria’s delegation, led by…
By GLEBM News Desk The Dangote Petroleum Refinery has stopped selling petrol to major petroleum marketers that import fuel, escalating an ongoing dispute over the blending of locally refined petrol with imported products. An official of the refinery confirmed that the company would no longer supply petrol to marketers involved in importing petroleum products, saying…
By GLEBM News Desk Nigeria’s effort to commercialise gas currently being flared is facing implementation challenges, with about 22 of the 42 companies awarded access to flare-gas resources yet to make significant progress on developing their projects. The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, disclosed the development as the Federal Government renewed…
By GLEBM News Desk Multiple taxation, insecurity and high interest rates emerged as the leading constraints confronting Nigerian businesses in September, even as overall private-sector confidence remained positive, according to the latest Central Bank of Nigeria Business Expectations Survey. The survey put Nigeria’s Business Confidence Index at 13.4 points in September, indicating that businesses remained…
By GLEBM News Desk The Lagos Chamber of Commerce and Industry has called for measures to limit the impact of global energy-price movements on Nigerian households and businesses, saying the next phase of economic reforms should focus on converting macroeconomic stability into stronger productivity and competitiveness. The chamber made the call in an Independence Day…
By GLEBM News Desk The Coca-Cola system in Nigeria supported approximately 160,200 jobs and generated an estimated $1 billion in economic value in 2024, according to a socio-economic impact assessment conducted by global consultancy Steward Redqueen. The assessment examined the company’s wider economic footprint rather than only its direct workforce, taking into account employment and…
By GLEBM News Desk Nigeria’s ability to generate sufficient employment and raise productivity will depend partly on whether investment expands across businesses, infrastructure, innovation and workforce development, the Nigerian Economic Summit Group has said. The private-sector-led policy organisation warned that current investment levels remain inadequate for the scale of job creation and broad-based economic growth…
By GLEBM News Desk Nigeria’s manufacturing sector is facing continued pressure from elevated production costs, exchange-rate exposure and weak consumer purchasing power, prompting renewed calls for policies that help businesses expand production rather than simply endure difficult operating conditions. The Director-General of the Manufacturers Association of Nigeria, Segun Ajayi-Kadir, has warned that the ability of…
