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 naira recorded a modest appreciation in September as improved foreign exchange liquidity and stronger oil receipts helped reinforce conditions in Nigeria’s currency market, while the country’s external reserves climbed to $54.9 billion. The naira closed September at approximately ₦1,329.16 to the dollar in the Nigerian Foreign Exchange Market, compared with…
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 A Federal Government skills acquisition programme designed to reach five million young Nigerians has moved into its Oyo State phase, with officials highlighting technical training and entrepreneurship as part of efforts to improve employability and support income-generating activities. The programme’s Oyo phase commenced on September 28 and is scheduled to run…
By GLEBM News Desk The Nigerian Ports Authority is seeking stronger cooperation among security agencies to address attacks on vessels, barges and port-related infrastructure around Nigeria’s waterfronts and maritime channels. The authority has called for closer coordination with the Nigerian Navy, Nigeria Police and other relevant agencies as part of efforts to strengthen security and…
By GLEBM News Desk Nigeria’s telecommunications industry is facing significant infrastructure losses as repeated fibre-optic cuts continue to disrupt network services and increase the cost of maintaining connectivity. Industry stakeholders estimate that between ₦27 billion and ₦35 billion is lost annually through fibre repairs and related revenue leakage. The problem is becoming increasingly important as…
By GLEBM News Desk Nigeria’s maritime sector is being positioned for a larger role in the national economy as the Nigerian Maritime Administration and Safety Agency moves to unlock an estimated ₦5 trillion in economic opportunities within the sector. The initiative is expected to focus on improving maritime operations, strengthening local participation and increasing the…
Brent crude approached $110 per barrel on Friday as Middle East tensions disrupted energy markets, raising fresh inflation and interest-rate concerns globally. By GLEBM News Desk Global crude oil prices have climbed sharply this week, with Brent crude approaching $110 per barrel as escalating tensions in the Middle East raise concerns about prolonged disruptions to…
