Investors in Nigeria’s capital market received a total of N1.1 trillion in cash dividends from listed companies in 2024, marking a significant boost in investor returns and market confidence. Dr. Emomotimi Agama, Director General of the Securities and Exchange Commission (SEC), disclosed this during a recent market update. He revealed that quoted companies had already paid out N1.0 trillion, with the remaining amount expected to be disbursed shortly. “This level of dividend distribution underscores improved corporate performance and renewed investor confidence in the Nigerian capital market,” Agama said. In addition to the dividend payouts, Agama noted that the SEC…
Author: Elvis Eromosele
No fewer than 83,236 Nigerians are currently accessing the Federal Government’s consumer credit facility nationwide. Of the number, 50,438 are non-government workers and 32,798 are public sector employees. A further breakdown of the number shows artisans topping the table with 16,769 beneficiaries in the non-public sector and 11,451 teachers in the public sector. The figures are contained in the one year anniversary brief of Nigerian Consumer Credit Corporation (CREDICORP) shared with The Nation at the weekend by Uzoma Nwagba, Managing Director/Chief Executive Officer of the organisation. Nwagba expressed delight with the interest shown in the scheme by Nigerians, saying he…
Nigeria’s broadband penetration rose marginally to 48.15 per cent in April 2025, up from 47.73 per cent in March, according to the latest industry statistics released by the Nigerian Communications Commission (NCC). This translates to 104.3 million broadband connections across the country. While the slight uptick shows continued growth in internet access, analysts say Nigeria is still far off track in achieving the ambitious 70 per cent broadband penetration target outlined in the National Broadband Plan (NBP 2020–2025), which is due to expire later this year. When the NBP was launched in March 2020, broadband penetration stood at 39.85 per…
The Nigerian Communications Commission (NCC) has mandated telecom licensees in Nigeria to inform consumers of major service outages on their networks through media channels, stating the cause(s) of the service interruption, and the area(s) affected by the service interruption/outage, as well as the time that would be taken to restore service. Consumers must also be informed one week in advance where operators have planned service outages. This development, contained in the “Directive on Reportage of Major Network Outages by Mobile Network Operators (MNOs),” is part of the Commission’s drive to ensure timely resolution of outages, enhance quality of experience for…
The Nigerian Postal Service (NIPOST) has crossed a major financial milestone, generating over ₦10 billion in revenue in the last fiscal year. This achievement is part of the agency’s renewed efforts to reposition itself as a key player in Nigeria’s rapidly expanding digital economy. Tola Odeyemi, Postmaster General and CEO, disclosed this during her appearance on Arise TV’s The Beam with Soonest Nathaniel. She attributed the impressive revenue growth to ongoing digital transformation, improved service delivery, and efforts to curb financial leakages. “₦10 billion is just the beginning,” Odeyemi stated. “With the right systems in place, NIPOST can achieve far more.”…
Nigeria’s Communications and Digital Economy sector is experiencing unprecedented growth under the administration of President Bola Ahmed Tinubu. In the first quarter of 2024 alone, the sector attracted $191 million in foreign direct investment (FDI), a staggering ninefold increase from the $22 million recorded during the same period in 2023. This remarkable progress was revealed by Dr. Bosun Tijani, Minister of Communications, Innovation, and Digital Economy, during an interview for an upcoming State House documentary marking the President’s second anniversary in office. According to Dr. Tijani, this surge in investment is a direct result of foundational reforms implemented by the…
The National Information Technology Development Agency (NITDA) has unveiled revised IT Project Clearance Guidelines aimed at improving accountability, reducing duplication, and curbing corruption in the implementation of government IT projects. The move aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which seeks to enhance governance and service delivery across the public sector. The updated framework, which replaces the 2018 guidelines, was presented to key stakeholders including the Offices of the Accountant General and Auditor General of the Federation, as well as the Bureau of Public Procurement (BPP). During the presentation, Kashifu Inuwa, NITDA Director General, emphasised the need for…
In a significant move to advance public relations measurement education and practice in Nigeria and across Africa, Segun McMedal, renowned communications strategist has been appointed as the Strategic Book Ambassador for “The Science of Public Relations: A Comprehensive Guide to Measurement and Evaluation,” authored by media intelligence expert Philip Odiakose. With over two decades of experience, McMedal brings a wealth of expertise and leadership to this ambassadorial role. He is the Lead Partner at Upticomm Marketing Company, and the immediate past Chairman of the Lagos State Chapter of the Nigerian Institute of Public Relations (NIPR). Among his notable contributions to…
Dr. Frederick Mordi, winner of the Commonwealth Short Story Award, has released a new novel titled Man Makes a Home. The book, published by Grand Touch Limited, offers a powerful and moving portrayal of the tensions that emerge within families when Christian beliefs conflict with traditional cultural values. Mr. and Mrs. Okafor, the protagonists, seem an archetype of the ideal couple. Blessed with four beautiful daughters, a steady source of income, and an idyllic marriage, the world is their oyster. But Mr. Okafor’s failure to produce a male heir to maintain the lineage is an albatross around his neck. His…
Nigeria’s creative sector is poised for a major transformation, with over $300 million in investment commitments secured and a target to create at least two million jobs by 2027. Hannatu Musawa, Minister of Arts, Culture, and the Creative Economy, disclosed this during the Ministerial Press Briefing in Abuja on Friday. She highlighted key achievements and outlined future plans aimed at positioning Nigeria as a global hub for creativity. “In just 18 months, we have secured over $300 million in investment commitments and launched innovative funding mechanisms like the $200 million Creative Economy Development Fund (CEDF),” Musawa said. The CEDF, managed…