United Bank for Africa has reinforced its commitment to innovation, youth empowerment, and education with the commissioning of the UBA Innovation Hub and Business Office at University of Lagos. The facility was commissioned by Tony Elumelu, Group Chairman of UBA, represented by Oliver Alawuba, Group Managing Director/Chief Executive Officer of the bank, alongside members of the university’s leadership led by Vice Chancellor, Professor Folasade Tolulope Ogunsola. The project highlights UBA’s long-standing relationship with UNILAG and Nigeria’s education sector. Tony Elumelu, an alumnus of the university, described the development as both symbolic and strategic. “Returning to my alma mater for this…
Author: Elvis Eromosele
The Nigerian Railway Corporation has again temporarily suspended the Warri-Itakpe Train Service (WITS) following technical concerns and operational challenges flagged by its engineers. The announcement was made on Wednesday in a statement issued by Callistus Unyimadu, the corporation’s Chief Public Relations Officer, who said the suspension became necessary to allow for critical operational assessments aimed at improving safety, reliability, and service delivery along the corridor. According to the NRC, engineers advised that operations be halted temporarily to address technical issues affecting the route. “The Nigerian Railway Corporation (NRC) says it has temporarily suspended the Warri-Itakpe Train Service (WITS) due to…
Meta has begun rolling out new subscription plans for users of Facebook, Instagram, and WhatsApp as the tech giant pushes to expand revenue streams beyond digital advertising. The global rollout, announced on Wednesday, introduces new “Plus” subscription plans designed to offer users enhanced platform features, advanced customisation tools, and deeper engagement options. Under the new structure, users can subscribe to: Instagram Plus Facebook Plus WhatsApp Plus Monthly subscription fees range from $2.99 to $3.99 depending on the platform and package selected. According to Naomi Gleit, Meta’s Head of Product, the subscription plans are aimed at users seeking more functionality and…
The African Development Bank (AfDB) has appointed Festus Keyamo, Nigeria’s Minister of Aviation and Aerospace Development, to spearhead its $7 billion Integrated Aviation Transformation Programme for Africa (IATP). The announcement was disclosed in a statement issued on Wednesday by Tunde Moshood, the minister’s Special Adviser on Media and Communications. The appointment forms part of the AfDB’s broader strategy to modernise Africa’s aviation industry, improve regional air connectivity, strengthen infrastructure, and attract large-scale private and institutional investments into the sector. The development also positions Nigeria at the forefront of ongoing continental aviation reforms aimed at boosting Africa’s competitiveness in global air…
The Federal Government recorded N11.89 trillion in fresh borrowings within the first nine months of 2025, while spending just N3.10 trillion on capital projects during the same period, according to the 2025 third-quarter Budget Implementation Report released by the Budget Office of the Federation. The report showed that the new borrowings comprised N7.08 trillion in domestic loans and N4.81 trillion in multilateral and bilateral project-tied loans. Despite a budget provision of N1.38 trillion for foreign borrowing during the period, no foreign loans were recorded. Data from the report showed that actual borrowing surpassed the three-quarter projection of N10.34 trillion by…
Fidelity Bank Plc recorded gross earnings of N434.95 billion in the first quarter of 2026, representing a 37.9 per cent increase from N315.42 billion posted in the corresponding period of 2025. The strong performance was driven largely by growth in the bank’s core lending business, according to the bank’s interim financial results released on the Nigerian Exchange Limited (NGX). Fidelity Bank’s interest income rose by 22.8 per cent to N314.48 billion in Q1 2026, compared to N256.10 billion recorded in Q1 2025. The bank posted a net interest income of N180.97 billion during the three-month period, helping to lift profitability…
Nigerian Ports Authority (NPA) says 43 ships carrying petroleum products, food items, containers, and other cargoes are expected to arrive at Lagos ports between May 26 and June 6. According to the agency’s Daily Shipping Position, the vessels are scheduled to berth at Apapa Port, Lekki Deep Sea Port, and Tin Can Island Port. The NPA disclosed that the incoming vessels will transport containers, fresh fish, petrol, aviation fuel, diesel, gasoline, wheat, and other general cargoes. Out of the 43 expected ships: Eight vessels are carrying containerised cargoes Thirty-five others are laden with petroleum products and bulk cargoes 11 Vessels…
FCMB Group Plc says the annual Ojude Oba Festival has evolved beyond a cultural celebration into one of Africa’s leading platforms for tourism, enterprise, and cultural commerce. The bank stated that the festival, which attracts thousands of visitors to Ijebu-Ode every year, is increasingly creating economic opportunities across hospitality, transportation, fashion, entertainment, food services, photography, and small businesses. Originally established as a traditional homage-paying gathering before the Awujale of Ijebuland, Ojude Oba has grown into a globally recognised cultural event attracting tourists, investors, creatives, diaspora communities, and international media attention. Speaking ahead of the 2026 edition scheduled for May 29,…
The Federal Government has approved the establishment of a Nigerian aircraft leasing company aimed at helping local airlines acquire aircraft more easily, reduce flight disruptions, and lower airfares. Festus Keyamo, Minister of Aviation and Aerospace Development, disclosed the development in Abuja during a meeting with representatives of the Airline Operators of Nigeria (AON). Keyamo also revealed that the African Development Bank (AfDB) has committed a $7 billion funding package to support its integrated African aviation programme, with Nigeria selected as one of the pilot countries. According to Keyamo, the new leasing company is designed to address one of the biggest…
Fidson Healthcare Plc will allot all 600 million shares offered under its N21 billion Rights Issue after the offer closed oversubscribed by 117.3 per cent, reflecting strong investor demand for the pharmaceutical company’s shares. The company disclosed that investors applied for 704.19 million ordinary shares valued at N24.65 billion, significantly higher than the 600 million shares worth N21 billion available under the offer. The development was contained in the basis of allotment approved by the Securities and Exchange Commission (SEC). Due to the oversubscription, Fidson said applications for additional shares would be scaled down, with about N3.65 billion expected to…