Uche Cecil Izuora Stakeholders in Nigeria’s financial technology ecosystem have called for smarter regulation, stronger cybersecurity, improved digital infrastructure and deeper collaboration and building trust among public and private sector players to accelerate financial inclusion and position Nigeria as Africa’s leading digital financial hub. The call was made at the 3rd Business Journal Fintech and Financial Inclusion Roundtable 2026, held on Friday in Lagos, where regulators, industry leaders and technology experts agreed that while Nigeria has recorded remarkable success in digital payments, greater efforts are needed to expand access to credit, insurance, pensions and other financial services for millions…
Author: Orientalnews Staff
Yemisi Izuora The Stanbic IBTC has reported that growth was maintained in the Nigerian private sector during July as firms again signalled a marked increase in new orders during the month. In turn, output and employment also rose, albeit modestly, while inflationary pressures softened. The headline figure derived from the survey is the Purchasing Managers’ Index (PMI). Readings above 50.0 signal an improvement in business conditions on the previous month, while readings below 50.0 show a deterioration. Stanbic IBTC Bank Nigeria PMI Index, sa, >50 = improvement m/m. Dots = long-run average since January 2014. 60 55 50 45…
Yemisi Izuora The Nigerian Content Development & Monitoring Board (NCDMB), in partnership with Butane Energy Limited, has commissioned a Liquefied Petroleum Gas (LPG) plant in Bauchi State as part of its strategic efforts to deepen domestic gas utilization, expand access to cleaner cooking fuel, and strengthen indigenous participation across Nigeria’s energy sector. The Bauchi LPG plant is the third facility developed under the NCDMB–Butane Energy partnership, following the successful establishment of similar plants in Katsina and Kaduna States. This expansion directly supports the Federal Government’s Decade of Gas initiative and aims to tackle energy poverty across Northern Nigeria. Speaking…
Yemisi Izuora The Centre for the Promotion of Private Enterprise [CPPE] has demanded for a fundamental rethink of Nigeria’s development-finance architecture to address the severe financing constraints facing manufacturing, agriculture, agribusiness, MSMEs and export-oriented enterprises. The Chief Executive Officer (CEO) of the CPPE, Dr. Muda Yusuf, estimates a conservative current real-sector financing gap of over ₦50 trillion when account is taken of unmet financing needs across manufacturing, agriculture, agribusiness, MSMEs, supply chains and export-oriented enterprises. According to the Centre, Nigeria’s real sector is confronted with a structural financing deficit characterised by prohibitive interest rates, short loan tenors, stringent collateral requirements, limited…
Yemisi Izuora The Nigerian Content Development and Monitoring Board (NCDMB) and the Bank of Industry (BOI) have inaugurated the Investment Committee of the Nigerian Content Equity Fund (NCEF) a groundbreaking $100 million financing product designed to avail long-term financing to service companies and provide access to funds in exchange for equity rather than traditional debt instruments. The committee was inaugurated by the Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe, setting the stage for the rollout of the pioneering financing window under the Nigerian Content Intervention Fund (NCI Fund). According to the product paper, the underlying goal of the…
Yemisi Izuora A former Minister of Information and Culture, Lai Mohammed, has challenged governments to provide enabling policies while financial institutions should support the transition to address issues of climate change with patient capital. In addition he urged technology providers to continue to meet, while industry stakeholders must remain committed to measurable environmental outcomes. He stated that sustainability is now more than simply about compliance, adding that it has become an advantage, and a measure of corporate leadership. He added that climate change is a shared challenge that demands collective responsibility. He spoke at Oriental News Nigeria 2026 Conference in…
Uche Cecil Izuora The first-ever nominees for The Nigeria Prize for Creative Arts (NPCA) driven by the Nigerian Liquified Natural Gas (NLNG) have been unveiled. The successful nominees came from 98 submissions, which have advanced in the inaugural edition of the US$20,000 Prize. Sponsored by NLNG, the newly introduced Prize is open to Nigerian creatives aged 18 to 35. For its maiden edition, entrants were invited to interpret the theme, “Identity,” through documentary stories about Nigeria, its people, communities, cultures and evolving sense of identity. The unveiling places the filmmakers behind the 11 shortlisted works one step closer to the…
Uche Cecil Izuora The Organization of Petroleum Exporting Countries and its allies known as (OPEC+ ) has approved a further 188,000-bpd production quota increase for September. The output increase completes the planned unwinding of the voluntary output cuts introduced in 2023 while leaving room for additional supply once Middle East oil flows normalize. The increase, agreed by seven producers led by Saudi Arabia and Russia, comes despite continued supply disruptions linked to the conflict involving Iran and shipping constraints in the Persian Gulf and Red Sea. While largely symbolic for now, the September increase completes the reversal of approximately 3.5 MMbpd…
Yemisi Izuora Seplat Energy is servicing its debt profile which hit $370.7 million in 2025 with part of proceeds from $281.6 million raised from sale of an additional stake in four oil blocks acquired from U.S. group ExxonMobil. Seplat said that it had signed a binding agreement to sell a 10 per cent interest in the assets for $281.6 million. The transaction covers OML 67, 68, 70 and 104, which Seplat acquired in December 2024 through its purchase of Mobil Producing Nigeria Unlimited, or MPNU, for a final price of $800 million. MPNU was subsequently renamed Seplat Energy Producing Nigeria Unlimited,…
Yemisi Izuora FMDQ Securities Exchange Limited has approved the quotations of HillCrest Agro-Allied Industries Limited’s ₦2.42 billion Series 1 and ₦9.31 billion Series 2 Commercial Papers (“CPs”) under its ₦30.00 billion CP Issuance Programme. This approval by the Exchange’s Board Listings and Markets Committee underscores the important role of the Nigerian debt capital market in supporting access to efficient short-term funding for agro-processing enterprises. HillCrest Agro-Allied Industries Limited (“HillCrest” or the “Issuer”) is a Kwara State-based agro-processing company operating in the Nigerian rice milling sub-sector. The company produces parboiled rice from locally sourced paddy through its expanding, technology-driven milling operations. Proceeds from…