The Lagos State Government has announced strong investor interest in its latest bond issuance, securing N310 billion from the market, 55 per cent above its initial N200 billion target. An update shared on the state’s X handle confirmed that the N200 billion conventional bond attracted bids worth N310 billion, marking one of the most successful debt sales by a Nigerian sub-national. The state’s N14.8 billion Green Bond, Nigeria’s first sub-national climate-focused bond, also reported robust demand, closing with 97.7 per cent oversubscription at N29.29 billion. Largest Sub-National Bond, First Sub-National Green Bond According to Lagos, the conventional bond represents the…
Author: Elvis Eromosele
Nigeria’s Internet Service Provider (ISP) market is consolidating around three major players, Spectranet, Starlink and FibreOne, who now control 65 per cent of all actively connected ISP customers, according to new Q2 2025 data released by the Nigerian Communications Commission (NCC). This dominance comes at a time when the ISP segment is shrinking, even as national demand for broadband continues to surge. Market Shrinks as Operators Go Dormant Although the NCC has 224 licensed ISPs, only 133 were active in Q2 2025. This means about 40 per cent of licensees are inactive, highlighting a deepening structural crisis in the segment.…
By Elvis Eromosele If you have crossed the overhead bridge along the Alausa/Magodo Expressway recently, you may have noticed a bold sign squarely sitting on the median. It reads both in English and Yoruba: “Do not urinate or defecate here. Offenders will be prosecuted.” The message is stern. But what is even more striking is that such a sign is needed at all, right in the heart of Lagos, the nation’s commercial capital. To the discerning, the sign is more than a warning; it is a mirror. It is a mirror that reflects the uncomfortable truth of our sanitation reality: open defecation…
Boxing analyst Steve Bunce says Anthony Joshua agreed to fight YouTuber-turned-boxer Jake Paul because the financial package on the table was simply “an offer he couldn’t refuse.” Joshua, 36, is set to earn £36.9 million ($50 million) for the eight-round bout scheduled for 19 December at the Kaseya Centre in Miami. The purse makes it one of the biggest paydays of his career, rivalled only by his Saudi Arabia fights. Bunce noted that Jake Paul’s previous fight against Mike Tyson drew an estimated 300 million viewers worldwide, a number far beyond traditional boxing audiences. That scale of reach and…
The Federal Government has opened the application portal for the Student Venture Capital Grant (S-VCG), a new programme offering up to ₦50 million in equity-free funding to support innovative, student-led ventures across the country. The announcement was made in a statement by Boriowo Folasade, Director of Press and Public Relations at the Federal Ministry of Education. The initiative, part of the government’s Renewed Hope Agenda, is designed to help students develop bold ideas into commercially viable, high-impact businesses. Aiming to Build Nigeria’s Next Generation of Unicorns Dr. Tunji Alausa, Minister of Education, said the programme reflects the administration’s commitment to…
CRC Credit Bureau Limited, the leading Credit Bureau in Nigeria and Africa, is pleased to announce the appointment of Mr. Patrick Ehidiame Akhidenor as a Non-Executive Director (NED) on its Board of Directors, following the approval of the Central Bank of Nigeria (CBN). Mr. Akhidenor joins the Board as the representative of First Bank of Nigeria Limited, succeeding Mr. Olusegun Alebiosu, who was recently appointed the Group Managing Director of First Bank. Mr. Akhidenor brings to CRC over three decades of distinguished experience in the banking and financial services industry, with expertise spanning credit and risk management, corporate finance, operations,…
Xpress Payment Solutions Limited, one of Nigeria’s leading financial technology companies, has been officially appointed as a Collecting Agent for the Federal Inland Revenue Service under the Treasury Single Account framework. The appointment enables all taxpayers on the FIRS TaxPro Max platform to use Xpress Payments as their preferred channel for remitting payments to the Federal Government through the TSA. Taxpayers making statutory remittances such as Company Income Tax, Value Added Tax, Withholding Tax and other FIRS payments will have the opportunity of choosing Xpress Payments while generating their Payment Reference Number on TaxPro Max. Payments can then be made…
The Association of Issuing Houses of Nigeria has lauded the resilience of Nigerian companies, which, despite economic headwinds, continue to play big in the financial markets. Speaking during the AIHN’s yearly Investment Banking Awards in Lagos, Kemi Awodei, the President, noted that the tough economic conditions in 2024 did not deter companies seeking capital for expansion, mergers and acquisitions, as well as debt issuances. The award ceremony was an opportunity for AIHN members to celebrate excellence within Nigeria’s capital market ecosystem, while also unveiling the association’s new executive committee members. The gathering brought together leading issuing houses, investment banking professionals,…
The National Agency for Food and Drug Administration and Control (NAFDAC) has destroyed counterfeit, expired, banned and substandard products valued at ₦20 billion following a major enforcement sweep across the South-West. The destruction exercise, conducted at the Moniya Dumpsite in Ibadan, Oyo State, marks a renewed push by the agency to remove unsafe and falsified products from circulation and protect public health. Massive Haul of Dangerous Products Destroyed The items destroyed included: Counterfeit and substandard medicines Expired and unsafe processed foods Fake cosmetics Banned or contaminated products seized from manufacturers, importers and distributors NAFDAC stated that the operation also…