InsideBusiness

The Nigeria Deposit Insurance Corporation (NDIC) has said a safe and resilient banking system is critical to Nigeria’s economic transformation and the Federal Government’s ambition of building a $1 trillion economy by 2030. The Managing Director and Chief Executive of the NDIC, Thompson Oludare Sunday, stated this on Wednesday at the Corporation’s Special Day during the 21st Abuja International Trade Fair organised by the Abuja Chamber of Commerce, Industry, Mines and Agriculture.

Share The Governor of Lagos State, Mr. Babajide Sanwo-Olu, has urged Nigerians, particularly Lagos residents, to uphold the nation’s founding values of patriotism, resilience and determination, stressing that the progress of Nigeria depends on the collective efforts of its people.

Harvestfield Healthcare FZE has commenced commercial production of next-generation insecticide-treated nets in Nigeria, marking a significant expansion of the country’s local capacity to manufacture malaria prevention products. The move comes as mosquito populations across Nigeria increasingly develop resistance to pyrethroid insecticides, which are widely used in conventional insecticide-treated nets.

Heirs Energies Limited, a company controlled by Seplat Energy Plc Non-Executive Director, Tony Elumelu, has acquired an additional six million ordinary shares in the energy company, raising the combined shareholding of entities controlled by Elumelu to 21.07 per cent. The notification was signed by Edith Onwuchekwa, Director, Legal and Company Secretary, on behalf of Seplat Energy Plc.

President Bola Tinubu, on Thursday, 1 October, said reducing the cost of living remains his administration’s central focus, adding that the government will pursue this goal by cutting the cost of producing and transporting goods and services. President Tinubu made these remarks during his Independence Day address to Nigerians, as the country marked its 66th anniversary.

Share Minister of Works, David Umahi, has urged the people of Ebonyi State to reject the presidential ambition of the Nigeria Democratic Congress (NDC) candidate, Peter Obi, insisting that the people of the state have the right to determine their political choices. Umahi made the call in a video circulating on social media on Wednesday, while reacting to criticism directed at Ebonyi leaders who have declared their opposition to supporting Obi in the 2027 presidential election.

A chieftain of the African Democratic Congress (ADC), Ladan Salihu, has criticised President Bola Ahmed Tinubu over his prolonged stay in Europe, alleging that Nigeria was left on “autopilot” during the President’s absence. Salihu, a former Director-General of the Federal Radio Corporation of Nigeria (FRCN), made the allegation on Channels Television’s The Morning Brief on Wednesday, a day after Tinubu returned to Nigeria following about four weeks abroad.

Share The National Chairman of the All Progressives Congress (APC), Prof. Nentawe Yilwatda, has charged political appointees of President Bola Ahmed Tinubu’s administration to work actively for the success of the President’s policies and programmes. Yilwatda said those appointed into government positions must recognise their appointments as both a privilege and a responsibility to contribute to the success and continuity of the administration that entrusted them with public office.

GCR Ratings has upgraded Aradel Holdings Plc’s national-scale long-term issuer rating to AA(NG) from AA-(NG), following a significant expansion in its oil and gas operations that has strengthened earnings and cash flow generation. The Africa-focused rating agency also upgraded the rating of the company’s ₦10.318 billion Series 1 Senior Unsecured Bonds to AA(NG) from AA-(NG), while affirming its short-term issuer rating at A1+(NG). The outlook on all ratings remains positive.

Nigeria’s private sector leadership has secured a key position in West Africa’s regional business community following the election of the President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Jani Ibrahim, as President of the Federation of West African Chambers of Commerce and Industry (FEWACCI).