Lekki Deep Sea Port, Nigeria’s first deep seaport, is now operating at nearly 50 per cent of its designed capacity, marking a major milestone less than two years after the commencement of operations. Wang Qiang, the port’s Managing Director, said the growth reflects rising confidence among shipping lines and cargo owners, with container volumes increasing steadily since September. To sustain momentum, Lekki Port is prioritising multimodal connectivity and full digital integration. While barge operations currently handle about 10 per cent of cargo evacuation, management says rail connectivity will be critical to long-term efficiency, especially as industrial activities within the Lekki…
Author: Elvis Eromosele
Nigeria’s sovereign wealth manager, the Nigeria Sovereign Investment Authority (NSIA), has crossed the $3 billion net asset mark, reaching $3.10 billion by June 2025, up from $1 billion at inception in 2011. The growth represents a 9.9 per cent compound annual growth rate, supported by government contributions and retained earnings. In the first half of 2025, core comprehensive income increased by six per cent year-over-year to ₦202.1 billion, despite a challenging macroeconomic environment. NSIA has evolved beyond portfolio investing into a systems builder, deploying capital across healthcare, energy, agriculture, housing and financial markets. In 2025, it earned a 100% score on…
The National Pension Commission (PenCom) has begun disbursing a ₦758 billion Federal Government bond approved to clear outstanding pension liabilities, with ₦600 billion already paid to retirees nationwide. Omolola Oloworaran, PenCom Director-General, disclosed this while presenting her one-year scorecard at the Pension Revolution Summit in Abuja. She confirmed that the bond, approved by President Bola Ahmed Tinubu in February 2025, has been fully cashed. Oloworaran also revealed that Nigeria’s pension assets have grown to about ₦27 trillion, attributing the increase to bold policy decisions and structured reforms under Pension Revolution 2.0. She said the past year has focused on rebuilding…
Paris Saint-Germain and France forward Ousmane Dembele has been named The Best FIFA Men’s Player 2025, capping a landmark season that ranks among the most successful in PSG’s history. The 28-year-old was the driving force behind PSG’s first-ever UEFA Champions League title, scoring eight goals and providing six assists in the competition as the club finally conquered Europe. Dembele’s influence stretched beyond continental glory. He played a key role as PSG completed a domestic treble, winning Ligue 1, the Coupe de France and the Trophée des Champions, and helped the club reach the final of the inaugural FIFA Club World…
Elon Musk has become the first person in history to surpass a net worth of $600 billion, with his fortune estimated at $677 billion as of 12 p.m. U.S. Eastern Time on Monday, according to Forbes. The milestone was driven largely by a sharp jump in the valuation of SpaceX, Musk’s privately held space company. Earlier this month, SpaceX completed a tender offer that valued the firm at $800 billion, doubling its valuation from $400 billion in August, investors told Forbes. Musk owns about 42 per cent of SpaceX, and the higher valuation alone added an estimated $168 billion to…
By Elvis Eromosele How checking claims against real-life examples helps society uncover truth, drive innovation, and demand better outcomes In a world saturated with bold claims, official explanations, and “it-can’t-be-done” narratives, one quiet virtue stands out as a powerful tool for truth and progress: cross-referencing. It is the simple but disciplined act of checking one claim against another, across sectors, time, geography, or experience, to see whether it truly holds water. Time and again, cross-referencing has exposed excuses, challenged monopolies of thought, and opened doors to innovation that once seemed impossible. Nigeria offers some of the clearest examples of how…
PayPal Holdings Inc. has applied for regulatory approval to establish a bank in the United States, marking a major step in expanding its financial services for small businesses. The company disclosed on December 15, 2025, that it has filed applications with the Utah Department of Financial Institutions and the Federal Deposit Insurance Corporation to set up PayPal Bank, a Utah-chartered industrial loan company. PayPal said the move is aimed at deepening its business lending operations and reducing reliance on third-party financial institutions. Since 2013, the company has provided more than $30 billion in loans and working capital to over 420,000…
Microsoft, in partnership with the Federal Government, Data Science Nigeria (DSN), and Lagos Business School (LBS), has trained over 350,000 Nigerians in artificial intelligence skills under its AI National Skills Initiative (AINSI). The milestone highlights growing collaboration to deepen digital inclusion and strengthen Nigeria’s AI talent pipeline. Microsoft said the effort builds on its wider engagement with Nigeria, which has seen more than four million people receive digital skills training since 2021 across areas such as productivity, cloud computing, and emerging technologies. Speaking at a media session in Lagos, Abideen Yusuf, Microsoft Nigeria and Ghana General Manager, said Nigeria must…
LASACO Assurance Plc has secured shareholder approval to more than triple its share capital to ₦36.08 billion through a combination of a Rights Issue and Private Placement. The approval was granted at the company’s Extraordinary General Meeting (EGM) held virtually on December 9, 2025. The move will raise LASACO’s minimum share capital from ₦11.08 billion to ₦36.08 billion, an increase of about ₦25 billion. Shareholders also approved amendments to the company’s Memorandum and Articles of Association to reflect the new capital structure. The new shares to be issued will rank pari passu with existing ordinary shares. Under the resolutions, the…
The Nigerian Bar Association (NBA) has condemned the planned resumption of tinted glass permit enforcement by the Nigeria Police Force, describing it as an unlawful revenue-generating scheme. In a statement reacting to the police announcement that enforcement will resume on January 2, 2026, the NBA said the police lack the legal authority to impose or collect such fees. It raised concerns over transparency, noting reports that permit payments are made to a private entity, which it said violates public finance principles. The association warned that the policy could fuel extortion and harassment on Nigerian roads and further burden citizens already…