Garanti BBVA and Mastercard launch Türkiye’s first AI shopping assistant

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March 10, 2026

KEY POINTS

Jaiz Bank Plc has named Omolara Muinat Ismail as its new Executive Director to help grow its retail and SME banking business.
The appointment, which took effect on February 28, 2026, has been approved by the Central Bank of Nigeria (CBN).
Mrs. Ismail has over 25 years of experience in banking and previously served as a General Manager at Jaiz Bank.
This leadership boost comes as the bank reports a jump in pretax profit to N31.3 billion for the 2025 financial year.

MAIN STORY

Jaiz Bank Plc has appointed Omolara Muinat Ismail as an Executive Director as part of its plan to strengthen its leadership and expand its non-interest banking footprint across Nigeria. In a statement signed by the Company Secretary, Mohammed Shehu, the bank explained that the move is aimed at reaching more customers in the retail and SME sectors.

The appointment is already official, having received the green light from the Central Bank of Nigeria (CBN).

Mrs. Ismail is coming into the role with a wealth of experience, having spent more than 25 years working in retail, commercial, and corporate banking. Before this new role, she was the General Manager in charge of Business Development and headed the bank’s Lagos and South Directorate. Her career also includes high-level roles at Guaranty Trust Bank, where she served as a director for its subsidiary in The Gambia. She is well-schooled, holding an MBA from both the University of Ilorin and Bangor University in the UK.

The bank is making this move at a time when its business is booming. Financial results for 2025 show that Jaiz Bank’s pretax profit climbed to N31.3 billion, a big jump from the N24.4 billion it made in 2024. Its income from financing and investing activities also shot up to N97.4 billion. With Mrs. Ismail on the executive team, the bank hopes to use her deep knowledge of the Lagos market and digital banking to keep this growth going and reach more small businesses.

WHAT’S BEING SAID

“The appointment aligns with its strategy to deepen market penetration and expand its non-interest banking footprint,” the bank stated in its notice to the NGX.
Jaiz Bank noted that the move strengthens its leadership as it looks to “consolidate its position in Nigeria’s financial services sector.”
Analysts say Mrs. Ismail’s background as a Chartered Banker and fellow of several institutes will bring a lot of technical “weight” to the bank’s board.

WHAT’S NEXT

Retail Expansion: Expect to see Jaiz Bank roll out more digital banking products specifically designed for small business owners in the South.
SME Partnerships: The bank will likely use Mrs. Ismail’s experience to form new strategic partnerships with credit administration bodies.
Financial Reporting: Investors will be watching the first-quarter results of 2026 to see if the leadership changes help maintain the bank’s high profit margins.

BOTTOM LINE

The Bottom Line is that Jaiz Bank is putting a seasoned expert in the driver’s seat to turn its big profits into even bigger market reach. By promoting Omolara Ismail, the bank is making a clear bet that her experience in the Lagos business hub will help it win over more retail and SME customers.

Tinubu vows Nigeria will defeat terrorism, Says economy is improving

Tinubu vows Nigeria will defeat terrorism, Says economy is improving

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March 10, 2026

Nigeria Ready To Welcome All Citizens - Tinubu — President Bola Ahmed Tinubu

By Boluwatife Oshadiya | March 10, 2026

Table of Contents

Key Points

President Bola Tinubu says Nigeria will not surrender to terrorists despite ongoing security threats
Tinubu says economic reforms have stabilised public finances and prevented bankruptcy
Religious and traditional leaders pledge support for government efforts on security and economic recover

Main Story

President Bola Tinubu on Monday said Nigeria would defeat terrorist groups threatening national stability and insisted the country’s economy was beginning to recover after difficult reforms implemented by his administration.

Tinubu gave the assurance while hosting religious and traditional leaders at an interfaith breaking of fast at the Presidential Villa in Abuja, where he also reaffirmed the government’s commitment to strengthening national unity and economic stability.

The President acknowledged that Nigeria continues to face security challenges but said intensified military operations were placing pressure on terrorist groups.

“Yes, we are challenged; the terrorists are very desperate now because they are getting barraged and defeated. They leave trails of blood in their wake. But I assure you of one thing: Nigeria will never surrender. We are not discouraged. We are going to win and win well,” Tinubu said.

He also told the gathering that the economic reforms implemented since his administration took office were beginning to produce measurable results, noting that public finances had stabilised and pensioners were gradually receiving relief.

“I can report that the economy has turned the corner. It is getting better. Pensioners are gradually getting relief. We have saved Nigeria from bankruptcy,” the President said, adding that the situation inherited by his government was “very daunting and challenging.”

Tinubu further stated that state governments were now in a stronger fiscal position, saying no governor was currently forced to rely on emergency bank borrowing to pay workers’ salaries.

The President said his administration would continue investing in critical sectors such as agriculture and education while pursuing policies aimed at building a safer and more prosperous country.

The Issues

Nigeria’s security landscape has remained under pressure for more than a decade due to insurgency in the North-East, banditry in the North-West, and other forms of violent criminal activity across several regions.

Successive administrations have increased defence spending and expanded military operations to address these threats, but attacks on civilians and communities have continued to pose risks to national stability and economic activity.

At the same time, the Tinubu administration has introduced a series of economic reforms aimed at stabilising public finances and restructuring Nigeria’s fiscal system. These include subsidy removal, currency policy changes, and efforts to improve government revenue generation.

The reforms have triggered short-term economic hardship for many households, but government officials argue they are necessary to prevent long-term fiscal instability and restore macroeconomic balance.

What’s Being Said

“I am just grateful, one person among millions, that I have been given the opportunity to serve. All I can do is promise that I will continue to be faithful in discharging my duty,” Tinubu said during the event.

Alhaji Yahaya Abubakar, the Etsu Nupe, who represented the Sultan of Sokoto and President of the Nigeria Supreme Council for Islamic Affairs, said the interfaith gathering reflected national unity.

“We thank the President for bringing together leaders of the two major religions in the country. This gathering symbolises unity, and we pray for peace, stability and divine guidance for Nigeria,” Abubakar said.

Archbishop Daniel Okoh, President of the Christian Association of Nigeria, also expressed support for the administration’s efforts to address economic and security challenges.

“The church will continue to support initiatives aimed at strengthening the economy and improving the security architecture of the country,” Okoh said.

What’s Next

The federal government is expected to continue security operations targeting insurgent and bandit groups across northern Nigeria in the coming months.
Tinubu’s administration is also expected to expand investment in agriculture and education as part of its broader economic recovery agenda.
Additional fiscal and economic policy measures may be announced later this year as the government seeks to stabilise inflation and improve public finances.

Dollar to Naira exchange rate today, March 10th, 2026

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How much is a dollar to naira today in the black market?

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March 10, 2026

The exchange rate between the Naira and the US dollar, according to the data released on the FMDQ Security Exchange, the official forex trading portal, showed that the naira closed at 1402 per $1 on Tuesday, March 10th, 2026. The naira traded as high as 1425 to the dollar at the investors and exporters (I&E) window on Monday. This is brought to you by Bizwatch Nigeria.

Table of Contents

Dollar to naira exchange rate today black market (Aboki dollar rate):

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1420 and buy at ₦1400 on Monday 9th March, 2026, according to sources at Bureau De Change (BDC).

Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.

Dollar to Naira Black Market Rate Today

Dollar to Naira (USD to NGN)	Black Market Exchange Rate Today
Selling Rate	₦1420
Buying Rate	₦1400

Dollar to Naira CBN Rate Today

Dollar to Naira (USD to NGN)	CBN Rate Today
Highest Rate	₦1425
Lowest Rate	₦1402

Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.

Dangote fertilizer limited gains from global supply disruptions amid Iran conflict

NBMA launches capacity-building programme to strengthen biosafety, biosecurity

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March 10, 2026

KEY POINTS

NBMA has launched a train-the-trainer programme to strengthen biosafety, biosecurity and biorisk management in Nigeria.

The initiative is being implemented in collaboration with the National Open University of Nigeria.

Experts say strengthening technical capacity and public awareness is critical to the safe application of biotechnology.

MAIN STORY

The National Biosafety Management Agency (NBMA) has launched a capacity-building programme aimed at strengthening biosafety, biosecurity and biorisk management across Nigeria’s scientific and regulatory landscape.

Director-General of the agency, Bello Bawa Bwari, made this known during a Train-the-Trainer Capacity Building Programme held in Abuja and organised in collaboration with the National Open University of Nigeria (NOUN).

Bwari said the initiative comes at a time when biotechnology and life sciences are increasingly transforming sectors such as agriculture, medicine, environmental management and scientific research in Nigeria.

According to him, the rapid advancement of biotechnology presents new opportunities for national development while also requiring strong regulatory systems to ensure safety, responsible use and public confidence.

THE ISSUES

Experts say that while biotechnology offers significant benefits for food security, healthcare innovation and environmental sustainability, it also carries potential biological risks that must be carefully managed.

Without adequate biosafety frameworks and trained personnel, the deployment of modern biological technologies could pose risks to human health, biodiversity and ecosystems.

WHAT’S BEING SAID

Bwari emphasised that the agency remains committed to strengthening Nigeria’s capacity to manage biological risks and ensure compliance with national and international biosafety standards.

“As the national regulatory authority responsible for biosafety and biosecurity in Nigeria, we remain firmly committed to strengthening national capacity to effectively manage potential biological risks,” he said.

He noted that the training programme is designed to equip participants with the skills needed to transfer knowledge within their institutions, professional networks and communities.

Participants are expected to undergo intensive sessions covering biosafety principles, biosecurity practices, biorisk management systems, waste management and strategies for effective community engagement.

Also speaking at the event, Deputy Vice-Chancellor of the National Open University of Nigeria, Christine I. Ofulue, described the workshop as the first activity under a recently signed Memorandum of Understanding between the university and NBMA.

She said biosafety has become an increasingly critical priority globally as advances in biotechnology, genetic research and modern agricultural innovation continue to accelerate.

“Biosafety helps prevent harm to human health, protects biodiversity and safeguards our ecosystems from unintended consequences,” she said.

WHAT’S NEXT

The training is expected to create a network of certified trainers who will further disseminate knowledge on biosafety and biosecurity across academic institutions, research organisations and regulatory bodies.

Stakeholders say the initiative will also support Nigeria’s broader development agenda by promoting responsible innovation and strengthening public awareness of biotechnology practices.

BOTTOM LINE

By investing in training and knowledge transfer, NBMA aims to strengthen Nigeria’s biosafety ecosystem, ensuring that advances in biotechnology are applied responsibly while safeguarding public health, biodiversity and the environment.

Experts say government should team up with investors to fix refineries

Dangote fertilizer limited gains from global supply disruptions amid Iran conflict

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March 10, 2026

KEY POINTS

Rising geopolitical tensions involving the United States, Israel and Iran are disrupting global fertilizer supply chains.

Dangote Fertilizer says demand for its products has surged as buyers seek alternative suppliers.

The Lagos-based plant, Africa’s largest fertilizer facility, is expanding its global and continental footprint.

MAIN STORY

Dangote Fertilizer Limited is experiencing a surge in global demand for its products as geopolitical tensions involving the United States, Israel and Iran continue to disrupt fertilizer supply chains and unsettle commodity markets.

Vice President of Dangote Industries Limited, Devakumar Edwin, said buyers across multiple regions are increasingly turning to the company’s Lagos-based facility to offset supply shortages caused by reduced Iranian output.

Speaking in an interview with Bloomberg on Monday, Edwin said global demand had risen significantly as markets adjust to tightening supply.

“Demand has gone up substantially due to the shortage in the global market,” he said.

THE ISSUES

The ongoing tensions surrounding Iran have raised concerns over shipping operations in the Strait of Hormuz, a critical maritime corridor through which roughly one-third of global fertilizer shipments pass.

Any disruption along the route could significantly affect international supply chains, pushing buyers to seek alternative producers capable of meeting urgent demand.

WHAT’S BEING SAID

According to Edwin, the supply squeeze has created an opportunity for the Dangote facility to expand its export reach as international buyers look for reliable producers outside conflict-affected regions.

The Lagos-based fertilizer plant, owned by Aliko Dangote, Africa’s richest man, is currently the largest producer of granulated urea and ammonia on the continent.

With an annual production capacity of about three million tonnes, the facility exports a significant portion of its output, including about 37 per cent to the United States.

WHAT’S NEXT

Dangote Industries is also pursuing expansion plans to strengthen its position in the global fertilizer market.

The company’s founder, Aliko Dangote, has previously stated plans for the firm to challenge Qatar for the position of the world’s leading urea exporter within the next four years.

Beyond Nigeria, the group is expanding its footprint across Africa. In August 2025, Dangote signed a $2.5 billion agreement with the government of Ethiopia to construct a new fertilizer plant in the country’s Somali region.

BOTTOM LINE

As geopolitical tensions disrupt global fertilizer supply routes, Dangote Fertilizer is emerging as a key alternative supplier, strengthening its influence in the international agricultural inputs market while expanding its footprint across Africa.

Citizens advocacy for Social and Economic Rights petitions Minister over alleged FOI breach by NIMASA

Citizens advocacy for Social and Economic Rights petitions Minister over alleged FOI breach by NIMASA

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March 10, 2026

KEY POINTS

CASER has petitioned the Minister of Marine and Blue Economy over NIMASA’s alleged refusal to respond to an FOI request.

The request sought records relating to staff welfare safeguards, governance procedures and litigation involving Nigeria LNG Limited.

The group threatens legal action if the agency fails to respond within seven days.

MAIN STORY

The Citizens Advocacy for Social and Economic Rights (CASER) has petitioned the Minister of Marine and Blue Economy, Adegboyega Oyetola, over what it described as the failure of the Nigerian Maritime Administration and Safety Agency (NIMASA) to respond to a lawful request for information submitted under the Freedom of Information Act.

Executive Director of CASER, Frank Tietie, disclosed this on Monday while addressing journalists in Abuja and presenting an acknowledged copy of the petition received by the ministry.

Tietie said the organisation had earlier served NIMASA with a Freedom of Information request dated February 20, 2026, seeking access to public records relating to safeguards put in place to protect female staff within the agency.

The request also covered issues relating to administrative postings, procurement processes and internal governance procedures within the maritime regulatory body.

THE ISSUES

Under Section 4 of the Freedom of Information Act, public institutions are required to respond to requests for information within seven days, either by providing the requested details or by stating the statutory exemptions relied upon.

However, CASER alleged that NIMASA had neither released the information requested nor communicated any justification for withholding it, raising concerns about compliance with transparency and accountability laws in public administration.

WHAT’S BEING SAID

Tietie said the agency’s silence amounted to a violation of the provisions of the FOI Act.

“Under Section 4 of the Freedom of Information Act, NIMASA was required to respond within seven days either by providing the requested information or stating the specific statutory exemption relied upon,” he said.

“The agency’s silence constitutes a clear breach of its statutory obligations under the Act and reflects an unacceptable disregard for the law governing transparency in public administration.”

He further warned that the group would pursue legal action if the agency fails to comply with the request.

According to him, CASER would seek an order of mandamus from the Federal High Court compelling NIMASA to release the requested records and a declaration that the agency’s failure to respond violates the FOI Act.

WHAT’S NEXT

CASER has given the agency seven days from the receipt of its latest petition to comply with the request.

The group also called on the minister, as the supervising authority of NIMASA, to direct the agency to comply with the law and avoid what it described as unnecessary litigation that could further expose the agency to public scrutiny.

Among the documents requested are records relating to litigation involving Nigeria LNG Limited from 2023 to date, including legal opinions obtained, judgments or settlement agreements and any financial liabilities incurred.

BOTTOM LINE

The petition highlights growing concerns over transparency in public institutions, as civil society groups increasingly rely on the Freedom of Information Act to demand accountability and access to government records.

Women power Africa’s $59bn creative economy, says Boston Consulting Group Report

Local refineries won’t fully stop fuel price changes, says CPPE

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March 10, 2026

KEY POINTS

The Centre for the Promotion of Private Enterprise (CPPE) says having local refineries in Nigeria will not completely stop fuel prices from going up or down.
Dr. Muda Yusuf, Founder of CPPE, explained that this is because crude oil is priced using international benchmarks, no matter where it is refined.
Crude oil prices have jumped from $65 to over $100 per barrel in just a few weeks due to tensions in the Middle East.
While local refining helps with energy security and saving shipping costs, the price of the raw oil remains tied to the global market.

MAIN STORY

The Centre for the Promotion of Private Enterprise (CPPE) has explained that having domestic refineries in Nigeria cannot fully protect the country from changes in global fuel prices. In a statement on Monday in Lagos, the Founder of CPPE, Dr. Muda Yusuf, said this is because crude oil which is the main ingredient for making fuel is priced based on international standards.

This comes as global oil prices have spiked by over 50 per cent recently because of troubles in the Middle East.

Dr. Yusuf, who is also an economist, noted that when the price of crude oil goes up globally, the cost of refined products like petrol, diesel, and cooking gas also goes up everywhere, including Nigeria. He pointed out that many Nigerians expect local refineries to automatically make fuel very cheap, but the way refining works does not support that idea. He explained that even the crude oil supplied to local refineries is priced in U.S. dollars using global benchmarks.

However, the CPPE boss mentioned that domestic refining still has many good sides. For example, it helps Nigeria save money on shipping, marine insurance, and port charges that come with importing fuel. Refining oil at home also makes Nigeria’s energy supply more secure because the country will no longer have to rely so much on other nations for fuel. Additionally, the refining industry helps other businesses like those making fertilizers, plastics, and paints by providing them with the raw materials they need.

WHAT’S BEING SAID

“Fluctuations in crude oil prices are transmitted to domestic fuel prices in most economies, including Nigeria,” stated Dr. Muda Yusuf, Founder of CPPE.
He noted that while local refining doesn’t stop price changes, it “significantly reduces supply disruption risks and strengthens Nigeria’s energy security.”
Yusuf urged the government to provide a “supportive policy environment” to help local refiners stay competitive.

WHAT’S NEXT

Policy Support: The government is expected to look into better ways to ensure local refineries get a steady supply of crude oil.
Infrastructure Growth: There may be more focus on fixing pipelines and depots to make it easier to move locally refined fuel across the country.
Export Opportunities: As local production grows, Nigeria may start looking at selling refined fuel to neighboring countries to earn foreign exchange.

BOTTOM LINE

The Bottom Line is that while local refineries are great for making sure Nigeria doesn’t run out of fuel, they aren’t a magic wand for low prices. Since the “soup” is made from expensive global “ingredients,” the price at the pump will still follow the world market, even if we save money on the shipping.

Economist urges crude subsidies for local refiners to buffer global shocks

Experts say government should team up with investors to fix refineries

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March 10, 2026

KEY POINTS

Energy experts have told the Federal Government to work closely with credible investors to speed up fixing the country’s refineries.
This follows news that NNPCL is talking with Chinese firms about a deal to repair and run the oil plants.
Experts say bringing in capable partners will provide the skills and money needed without putting pressure on government funds.
Fixing the refineries locally will help Nigeria stop relying on imported fuel and help keep prices steady.

MAIN STORY

Energy experts are advising the Federal Government to partner with experienced investors to get Nigeria’s refineries back on their feet. Speaking in Lagos on Monday, the experts said that working with partners who have the right technical skills is the best way to grow local fuel production.

This comes after the Group CEO of NNPCL, Mr. Bayo Ojulari, mentioned that the company is in talks with Chinese firms to help fix and manage the refineries.

Dr. Ayodele Oni, an energy expert, said the plan is a good step. He explained that such a deal would bring in better ways of working without the government needing to spend a lot of money. Oni noted that in the past, huge sums were spent on repairs, but the results did not really improve how much fuel was produced. He believes that letting partners own a part of the business will bring in global best practices and help keep fuel prices stable over time.

Another expert, Dr. Joseph Nwakwue, added that finding the right partners with the money and technical know-how is very important for the country. He said it is in everyone’s interest for the state-owned refineries to work perfectly. Mr. Moses Igbrude of the Independent Shareholders Association also agreed, saying that these kinds of partnerships are common all over the world. However, he told the government to keep a close watch on the deals to make sure everything is clear and that Nigeria’s interests are protected.

WHAT’S BEING SAID

“It is worth exploring because the NNPCL… might not need to spend its own funds on the deal,” said Dr. Ayodele Oni.
“I hope the talks will bring in the right partners with the financial strength and technical skills to run the refineries well,” noted Dr. Joseph Nwakwue.
Mr. Moses Igbrude called it a “practical option” but warned that authorities must “keep a close eye on things.”

WHAT’S NEXT

NNPCL is expected to share more news on the talks with the Chinese firms very soon.
People are waiting to see which refinery—Port Harcourt, Warri, or Kaduna—will be the first to start this new partnership.
The government may also give more details on how private investors can safely join in managing these national assets.

BOTTOM LINE

The Bottom Line is that experts believe the government should not try to fix the refineries alone. By opening the door to the right international partners, Nigeria can finally turn its old oil plants into working machines that produce cheap fuel for everyone.

PETROAN warns petrol could hit ₦2,000 without urgent domestic refining

PETROAN warns petrol could hit ₦2,000 without urgent domestic refining

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March 10, 2026

KEY POINTS

PETROAN has issued a stark warning that petrol (PMS) prices could surge toward ₦2,000 per litre if domestic refineries remain inactive during the current global crisis.
The association urged NNPC Ltd. to facilitate the immediate commencement of production at the Port Harcourt (Area 5) and Warri refineries.
Geopolitical tensions involving the U.S., Iran, and Israel have already driven petrol prices up by 30%, currently selling above ₦1,000 per litre.
Diesel (AGO) is similarly projected to approach ₦3,000 per litre if international supply chain disruptions persist.

MAIN STORY

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has raised the alarm over a looming energy price peak, projecting that petrol could hit ₦2,000 per litre in the coming days. Dr. Billy Gillis-Harry, National President of PETROAN, made the call on Monday, urging the Group CEO of NNPC Ltd., Mr. Bayo Ojulari, to prioritize domestic refining as the only viable shield against a volatile global market.

According to PETROAN, the urgency stems from the escalating conflict involving Israel, the United States, and Iran, which has compromised critical oil routes. Gillis-Harry noted that before the current Middle East crisis, petrol sold at ₦774 per litre but has already crossed the ₦1,000 mark—a 30% increase. Diesel has seen an even more drastic 49% jump, rising from ₦950 to over ₦1,400 per litre. Without the immediate activation of the Port Harcourt Area Five Plant and the Warri Refinery, the association warns that these prices will continue to climb as international supply shrinks.

PETROAN argues that government-owned refineries are uniquely positioned to stabilize the economy because they are less vulnerable to the global supply disruptions that plague private refineries dependent on imported crude. By utilizing Nigeria’s own crude oil resources under the custody of NNPC Ltd., the country can decouple local pump prices from international shocks. Gillis-Harry emphasized that a ₦2,000 petrol price would deepen economic hardship and worsen inflation nationwide, calling on President Bola Tinubu to direct an immediate “rehabilitate and produce” mandate for all state-owned refineries.

WHAT’S BEING SAID

“With no clear end to the conflict, petroleum product prices… are expected to rise sharply. PMS could rise close to ₦2,000 per litre,” warned Dr. Billy Gillis-Harry, President of PETROAN.
He described the current 49% spike in diesel as a threat to manufacturing, stating that “diesel is vital for industrial operations.”
PETROAN commended the President’s reform policies but insisted that domestic production is the final step to “bring relief to citizens and stimulate economic growth.”

WHAT’S NEXT

Retailers are bracing for potential price adjustments at the pumps as international crude prices react to the latest drone and missile attacks in the Gulf.
Stakeholders are awaiting a technical update from NNPC Ltd. regarding the “profit index evaluation” that previously paused operations at the Warri and Port Harcourt plants.
There is growing pressure for the Federal Government to implement a “Domestic Crude for Domestic Needs” policy to ensure local refiners have priority access to Nigerian crude.

BOTTOM LINE

The Bottom Line is that PETROAN has set ₦2,000 as the psychological and economic “red line” for the Nigerian fuel market. By linking this projected hike directly to the inactivity of the Port Harcourt and Warri refineries, the association is making it clear that Nigeria’s energy security can no longer afford to wait on international markets to stabilize.

ECOWAS court of justice pledges stronger protection for women’s rights through Effective justice delivery

Customs Officers undergo sensitisation ahead of National Single Window launch

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March 10, 2026

KEY POINTS

Nigeria Customs officers are undergoing sensitisation ahead of the first phase launch of the National Single Window on March 27

The digital platform aims to streamline trade processes and enhance transparency among government agencies involved in imports and exports.

Officials say the initiative will improve Nigeria’s trade competitiveness and reduce bureaucratic bottlenecks.

MAIN STORY

Officers of the Nigeria Customs Service (NCS) have begun a sensitisation programme in Lagos ahead of the first phase launch of the National Single Window (NSW) scheduled for March 27.

Director of the National Single Window Project, Tola Fakolade, disclosed this during a sensitisation session for customs officers in Lagos.

Fakolade said the programme was designed to clarify misconceptions surrounding the initiative and prepare officers for the operational integration of the platform across relevant government agencies.

He explained that the National Single Window is a digital platform created to simplify and coordinate trade-related procedures by bringing multiple agencies involved in import and export processes onto a single interface.

According to him, the initiative will improve efficiency, enhance transparency and facilitate easier trade operations within Nigeria’s ports and border points.

THE ISSUES

Nigeria’s trade environment has long been characterised by complex regulatory procedures, multiple documentation requirements and delays caused by fragmented operations among government agencies.

Stakeholders believe that integrating trade processes through the National Single Window will reduce administrative bottlenecks, improve compliance and strengthen Nigeria’s competitiveness in global trade.

WHAT’S BEING SAID

Fakolade emphasised that the platform would not interfere with the statutory revenue responsibilities of any government agency.

“The National Single Window is not taking any revenue from agencies. What it will do is facilitate ease of trade by integrating processes and improving transparency across participating agencies,” he said.

He added that the initiative, which is backed by the Presidency, is aimed at modernising Nigeria’s trade infrastructure and enhancing collaboration among agencies.

Also speaking, Deputy Comptroller-General of the Nigeria Customs Service, Oluyomi Adebakin, described the platform as a critical step toward strengthening Nigeria’s global trade standing.

According to her, digitising and harmonising trade procedures would simplify regulatory processes, reduce delays and improve operational efficiency within the customs system.

WHAT’S NEXT

Further sensitisation and stakeholder engagement sessions are expected to continue across relevant government agencies ahead of the official rollout of the first phase of the platform on March 27.

When fully operational, the National Single Window will allow traders to submit documentation and complete regulatory requirements through a unified digital portal.

BOTTOM LINE

The National Single Window initiative is expected to modernise Nigeria’s trade ecosystem by integrating government agencies on a single digital platform, reducing bureaucracy and improving the efficiency of import and export processes.

Customs advocates impact-driven reform communication at WCO capacity building session

Civil Servants hail reintroduction of gratuity as “major relief” for retirees

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March 10, 2026

KEY POINTS

Federal civil servants have expressed delight over the reintroduction of gratuity, describing it as a return to the “good old days” of enhanced retirement benefits.
The Federal Executive Council (FEC) approved the new exit benefit scheme on March 5, 2026, for officers in treasury-funded MDAs.
Retiring officers with a minimum of 10 years of service will receive a lump-sum gratuity equivalent to 100% of their total annual emoluments.
The benefit complements the Contributory Pension Scheme (CPS), providing a much-needed financial buffer for post-service investments and family support.

MAIN STORY

Federal civil servants in Abuja have commended the Federal Government for the reintroduction of gratuity, characterizing the move as a significant intervention that will ease the financial burdens of life after service.

Following the Federal Executive Council’s (FEC) approval of a new exit benefit scheme on March 5, workers noted that the policy restores a critical component of social security that had been missing for many retirees since the inception of the Contributory Pension Scheme (CPS) 22 years ago.

Under the approved framework, retiring federal civil servants will receive a gratuity equivalent to one full year’s salary package (100% of total annual emoluments). For many, like Hajia Safia Umaru, this lump sum represents a “big relief” from the fear of post-retirement poverty. She noted that such funds allow retirees to plan for housing, business startups, and the continued education of children who are often still in school at the time of their parents’ retirement.

Wale Ogunnaike, a Deputy Director retiring in July, provided a practical breakdown of the scheme’s impact. He explained that under the current CPS Act, a retiree with N20 million in total savings might only access N5 million (25%) as a lump sum, with the balance paid in monthly installments over 10 years. With a gross monthly earning of N500,000, Ogunnaike anticipates an additional N6 million in gratuity. This combined N11 million (pension lump sum plus gratuity) enables “reasonable and wise investment decisions” befitting his status.

While celebrating the policy, workers like Mrs. Alice Ita and Mr. Obinna Ibe have called for the Contributory Pension Scheme Act to be reviewed to allow access to at least 50% of total savings. They also emphasized the need for automated and prompt implementation to ensure that bureaucratic bottlenecks do not delay payments. As the government moves to strengthen the welfare framework, the reintroduction of gratuity has rekindled hope among Nigeria’s workforce, providing a “Plan B” that stabilizes lives after decades of service.

WHAT’S BEING SAID

“This is a very big relief from financial constraints… I used to be afraid whenever I hear what retirees go through after leaving the service,” stated Hajia Safia Umaru, a federal civil servant.
“With N5 million pension lump sum and N6 million gratuity payments, I can make reasonable and wise investment decisions,” noted Wale Ogunnaike, Deputy Director.
“The system should be automated in such a way that the person receives the benefit immediately. There should not be bureaucratic bottlenecks,” urged Mr. Obinna Ibe.

BOTTOM LINE

The Bottom Line is that the reintroduction of gratuity has transformed the retirement outlook for federal workers from one of “constant worry” to one of “renewed confidence.” By providing a full year’s salary as a lump sum, the government is giving retirees the capital needed to survive Nigeria’s current economic climate—provided the implementation remains prompt and transparent.

Women power Africa’s $59bn creative economy, says Boston Consulting Group Report

Women power Africa’s $59bn creative economy, says Boston Consulting Group Report

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March 10, 2026

KEY POINTS

Africa’s creative economy is currently valued at about $59 billion, with women playing a central role in innovation and entrepreneurship.

Rapid digital connectivity and Africa’s youthful population are accelerating growth in sectors such as fashion, film, music, and digital content.

Expanding Africa’s share of the global creative economy could increase exports to $150–160 billion by 2030.

MAIN STORY

Women are emerging as key drivers of Africa’s fast-growing creative economy, which is currently valued at about $59 billion, according to a new report by Boston Consulting Group (BCG).

The report, titled “Africa’s Next Growth Frontier: Empowering Women in the Creative Industries,” highlights how the continent’s expanding youth population and growing digital connectivity are transforming the creative sector into a major economic growth engine.

The study notes that Africa’s creative industries—including fashion, design, music, film, and digital content—are increasingly shaping the continent’s economic narrative, shifting attention from reliance on extractive industries to innovation-driven growth.

With nearly 890 million people under the age of 25, Africa has the youngest population globally, creating both a vast consumer market and a deep pool of creative talent.

THE ISSUES

Despite its rapid expansion and growing global influence, Africa’s creative economy remains significantly underdeveloped relative to its potential.

Currently, the continent accounts for less than three per cent of the $2 trillion global creative economy, highlighting both the sector’s growth constraints and the opportunity for expansion.

Experts say unlocking the sector’s potential will require improved infrastructure, stronger intellectual property protection, better financing mechanisms, and expanded global market access.

WHAT’S BEING SAID

According to Lisa Ivers, Africa’s creative industries provide a unique pathway for inclusive and sustainable economic growth.

“Unlike extractive industries, Africa’s creative economy offers a model rooted in agency, innovation, and shared prosperity,” she said.

Ivers noted that women-led creative businesses are generating employment, strengthening local supply chains, and reinvesting in their communities, making them central to Africa’s transformation.

The report also identifies four major drivers shaping the sector’s growth: digital acceleration, cultural intellectual property, the African diaspora, and the continent’s youthful population.

With 300–400 million Africans actively engaged on social media, creators now have unprecedented opportunities to distribute content globally and build digital-first business models.

WHAT’S NEXT

BCG projects that if Africa doubles its share of the global creative economy to six per cent by 2030, the continent’s creative exports could reach $150–160 billion.

The report also highlights fashion and design as the sector’s largest segment, currently valued at $31 billion, with women accounting for over 60 per cent of the workforce.

In countries such as Kenya and Madagascar, women represent more than 80 per cent of the industry workforce, underscoring their dominant role in shaping Africa’s fashion economy.

BOTTOM LINE

With its youthful population, expanding digital reach, and rich cultural heritage, Africa’s creative industries are poised to become a major economic pillar—with women at the forefront of driving innovation, employment, and global cultural influence.

ECOWAS court of justice pledges stronger protection for women’s rights through Effective justice delivery

ECOWAS court of justice pledges stronger protection for women’s rights through Effective justice delivery

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March 10, 2026

KEY POINTS

The ECOWAS Court of Justice has reaffirmed its commitment to protecting the rights of women and girls across West Africa.

The pledge was made during the court’s 2026 International Women’s Day event themed “Break the Silence, End Gender-Based Violence Now.”

Stakeholders called for stronger legal action, institutional accountability, and collective efforts to combat gender-based violence in the region.

MAIN STORY

The ECOWAS Court of Justice has reaffirmed its commitment to safeguarding the rights of women and girls across the West African sub-region through effective justice delivery and strengthened legal protections.

President of the court, Ricardo Gonçalves, gave the assurance during the 2026 International Women’s Day celebration organised by the ECOWAS Court’s Women’s Forum in Abuja.

The event, which coincided with the global observance of International Women’s Day, was held under the sub-theme “Break the Silence, End Gender-Based Violence Now.”

Speaking at the event, Gonçalves said the court remained committed to advancing the rule of law, addressing discrimination, and strengthening the protection of women’s rights across the ECOWAS region.

He noted that through its judgments, outreach programmes and collaborations with member states and relevant stakeholders, the court aims to ensure that justice and protection for women and girls become a lived reality rather than a mere aspiration.

THE ISSUES

Gender-based violence continues to pose a major challenge across the West African sub-region, limiting opportunities for women and undermining social and economic development.

Stakeholders at the event stressed that while progress has been made in advancing women’s rights, many women and girls still face discrimination, violence, and barriers that restrict their full participation in society.

The ECOWAS Court has, over the years, delivered landmark rulings aimed at protecting victims of gender-based violence and promoting legal reforms across member states.

WHAT’S BEING SAID

Gonçalves, who was represented by Marie Saine, said protecting the rights of women and girls is central to promoting justice, human dignity, and inclusive development within the ECOWAS community.

“Through our jurisprudence, we have upheld the fundamental rights of women and girls, challenged discrimination, and provided remedies for victims of sexual and gender-based violence,” he said.

Also speaking, Dupe Atoki emphasised that the rights of women and girls are fundamental human rights that must be respected, protected, and fulfilled at all times.

She stressed that justice systems must remain accessible, impartial, and responsive to the realities faced by women and girls.

In his keynote address, Tony Ojukwu described the ECOWAS Court as the conscience of the West African sub-region and urged stakeholders to ensure that violence against women is met with the full force of the law.

Earlier, President of the ECOWAS Court Women’s Forum, Oluwatosin Nguher, called for collective action to accelerate gender equality and address gender-based violence, which she described as one of the most persistent human rights challenges of modern times.

WHAT’S NEXT

The ECOWAS Court is expected to intensify its judicial interventions, partnerships, and advocacy initiatives aimed at strengthening legal protections for women and girls across member states.

Stakeholders also pledged to expand awareness campaigns and policy reforms to ensure that victims of gender-based violence have greater access to justice.

BOTTOM LINE

By reinforcing its commitment to justice and legal protection, the ECOWAS Court of Justice aims to play a stronger role in ensuring that women and girls across West Africa live free from violence, discrimination, and inequality.

ECOWAS Naval Chiefs Intensify Collaboration In Gulf Of Guinea

Nigeria secures hosting rights for 2027 Intra-African trade fair

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March 10, 2026

By Boluwatife Oshadiya | March 10, 2026

Table of Contents

Key Points

Nigeria wins bid to host the 2027 Intra-African Trade Fair in Lagos
Previous editions of the fair generated over $167 billion in trade deals
Event expected to attract more than 100,000 participants

Main Story

Nigeria has secured the right to host the fifth edition of the Intra-African Trade Fair (IATF) in 2027, a major continental trade event expected to boost investment and commercial partnerships across Africa.

The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, confirmed the development during the host agreement signing ceremony held Monday in Lagos.

The trade fair, organised under the framework of the African Continental Free Trade Area (AfCFTA), serves as a marketplace that connects businesses, investors, policymakers and development institutions from across Africa and beyond.

The 2027 edition of the fair is scheduled to take place in Lagos from November 5 to November 11.

According to official data, the first four editions of the event generated more than $167 billion in trade and investment deals, underscoring its role as a major driver of continental economic integration.

Oduwole said Nigeria’s hosting of the event comes as the country marks five years since implementing AfCFTA commitments, noting that Nigeria completed its first five-year implementation review in 2025.

The minister added that the government is also expanding initiatives designed to strengthen cross-border trade, including a dedicated AfCFTA air cargo export corridor launched with Uganda Airlines to facilitate faster delivery of Nigerian goods to East and Southern African markets.

What’s Being Said

“Nigeria intends not only to exceed the level of transactions recorded at previous editions but also deepen economic collaboration across the continent,” said Jumoke Oduwole, Minister of Industry, Trade and Investment.

“In just four editions, the Intra-African Trade Fair has generated more than $167 billion in trade and investment deals across Africa,” she added.

Former Nigerian President Olusegun Obasanjo, who chairs the IATF 2027 Advisory Council, highlighted the historic significance of Lagos hosting the event.

“Through the IATF, we must elevate our standards and achievements as we advance toward realising Africa’s developmental aspirations,” Obasanjo said.

What’s Next

Planning for IATF 2027 will begin with coordination between the Federal Government, Lagos State Government and private sector partners.
Organisers expect the event to attract more than 100,000 visitors and thousands of exhibitors from across Africa and international markets.
The next edition of the trade fair before Lagos will take place in 2025 as AfCFTA member states continue expanding intra-African trade initiatives.

JAMB remits N1.57bn to CBT centres for 2026 UTME registration exercise

Dangote Refinery raises petrol price to N1,175 per litre

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March 10, 2026

By Boluwatife Oshadiya | March 10, 2026

Table of Contents

Key Points

Dangote Refinery raises petrol gantry price to N1,175 per litre, the third increase within a week
Diesel price also revised upward to N1,620 per litre amid volatile global oil markets
Retail pump prices in several states now exceed N1,200 per litre

Main Story

The Dangote Petroleum Refinery has raised the gantry price of Premium Motor Spirit (petrol) to N1,175 per litre, marking the third upward price adjustment within a week and intensifying concerns over rising fuel costs across Nigeria.

The new price represents an increase of N180 from the N995 per litre announced on Friday, equivalent to an 18 percent rise within three days. The refinery also revised the gantry price of Automotive Gas Oil (diesel) upward to N1,620 per litre.

Industry checks show that the updated prices have already been reflected across petroleum depot pricing platforms used by downstream marketers, signalling an immediate shift in the benchmark supply cost for petrol across the country.

The latest adjustment follows reports that the refinery temporarily suspended petrol sales on Sunday amid market volatility linked to rising global crude oil prices.

Retail pump prices have already begun responding to the higher supply cost, with several filling stations across Nigeria dispensing petrol above N1,200 per litre, placing additional pressure on transportation costs and business operations.

The refinery, which began commercial fuel supply to the Nigerian market in 2024, has become a major supplier in the domestic downstream sector following decades of heavy reliance on imported fuel.

The Issues

Nigeria’s fuel pricing dynamics remain highly sensitive to global oil market volatility. Although the Dangote refinery is located domestically, it purchases crude oil at international benchmark prices, meaning local petrol costs still track global crude movements.

The situation has been compounded by recent geopolitical tensions affecting global energy markets, particularly disruptions linked to the Middle East, which have pushed crude oil prices sharply higher in recent days.

As a result, the expected stabilising effect of local refining on Nigeria’s fuel prices has yet to fully materialise.

What’s Being Said

“The market has been extremely volatile, and replacement costs have shifted significantly in recent days. These adjustments reflect prevailing market fundamentals and the cost environment we are operating in,” said a senior official at Dangote Petroleum Refinery.

“Domestic refining gives Nigeria supply security, ensuring the country avoids fuel shortages even during global disruptions,” said David Bird, Managing Director, Dangote Petroleum Refinery.

What’s Next

Further petrol price adjustments may occur if global crude prices remain elevated
The Federal Government continues efforts to secure crude supply for local refineries
Market analysts expect transport and logistics costs to rise nationwide

JAMB remits N1.57bn to CBT centres for 2026 UTME registration exercise

Man City draw Liverpool in FA Cup Quarterfinal showdown

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March 10, 2026

By Boluwatife Oshadiya | March 10, 2026

Table of Contents

Key Points

Manchester City will host Liverpool in the standout FA Cup quarterfinal fixture after Monday’s draw
League One side Port Vale face Chelsea after reaching their first quarterfinal since 1954
Arsenal travel to Southampton while West Ham or Brentford will host Leeds United

Main Story

Manchester City will face Liverpool in the headline clash of the FA Cup quarterfinals after the draw conducted at the London Stadium on Monday, setting up one of the most anticipated ties of the competition’s final eight.

The fixture pits two of England’s most dominant clubs against each other in a match that could shape the race for domestic silverware this season. City progressed to the quarterfinal stage after dispatching their previous-round opponents comfortably, while Liverpool continued their push for another FA Cup title following a strong campaign under manager Jürgen Klopp.

In another notable pairing, Sky Bet League One side Port Vale will travel to Stamford Bridge to face Chelsea. Port Vale secured their place in the quarterfinals after a shock victory over Sunderland on Sunday despite sitting eight points adrift at the bottom of the League One table.

The result marks the club’s first appearance in the FA Cup quarterfinals since 1954 and makes them the lowest-ranked side remaining in this year’s competition.

Chelsea, meanwhile, survived a major scare in the previous round, coming from behind twice to secure a 4–2 extra-time victory against 10-man Wrexham at the Stok Cae Ras Stadium.

Premier League leaders Arsenal will travel to Championship side Southampton after overcoming Mansfield Town in the fifth round. Southampton advanced to the last eight following a dramatic 1–0 victory over Fulham, sealed by Ross Stewart’s stoppage-time penalty.

The final quarterfinal slot will see either West Ham United or Brentford host Leeds United. Leeds secured their place in the final eight with a convincing 3–0 win over Norwich City.

The FA has scheduled the quarterfinal fixtures to be played across the weekend of April 4, with the winners advancing to the semifinals at Wembley Stadium.

What’s Being Said

“The FA Cup always delivers special moments, and drawing Liverpool away will be a massive challenge for us,” said Pep Guardiola, Manager, Manchester City.

“For a club like Port Vale to reach this stage shows the magic of the FA Cup. We’ll approach the game with full respect,” said Mauricio Pochettino, Manager, Chelsea.

What’s Next

FA Cup quarterfinal fixtures will take place during the weekend of April 4–5, 2026
Semifinal matches are scheduled to be played at Wembley Stadium later in April
The FA Cup final is expected to take place at Wembley in May 2026

JAMB remits N1.57bn to CBT centres for 2026 UTME registration exercise

Businesses brace for Inflation as petrol prices approach N1,300

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March 10, 2026

Taskforce To Enforce Sanctions On Filling Stations For Petrol Overpricing

By Boluwatife Oshadiya | March 10, 2026

Table of Contents

Key Points

Petrol prices climb toward N1,300 per litre across Nigeria following refinery price hikes
Businesses warn rising fuel costs could trigger a fresh wave of inflation
Labour groups and industry bodies criticise repeated petrol price increases

Main Story

Businesses across Nigeria are preparing for a fresh surge in operational costs after petrol prices rose to as high as N1,300 per litre in several parts of the country following a new increase in supply prices by the Dangote Petroleum Refinery.

The refinery raised its gantry price of Premium Motor Spirit from N995 to N1,175 per litre, triggering immediate pump price adjustments by filling stations nationwide.

Industry reports indicate that petrol is now selling between N1,200 and N1,400 per litre at various stations, depending on location and supply costs.

Economists and members of the Organised Private Sector have warned that the surge in fuel prices could rapidly feed into broader inflation, increasing transportation costs, food prices, and manufacturing expenses.

The development comes amid heightened volatility in global oil markets, driven partly by geopolitical tensions affecting crude oil supply routes.

Crude prices briefly climbed to about $115 per barrel before easing to around $98 later in the day, according to international market data.

The Issues

Fuel costs remain a central driver of inflation in Nigeria’s largely transport-dependent economy. Rising petrol prices typically cascade across supply chains, increasing the cost of logistics, food distribution, manufacturing inputs, and retail goods.

Businesses, particularly small and medium-sized enterprises, are often forced to pass these higher costs on to consumers, accelerating inflationary pressure.

Labour unions have also warned that repeated increases in fuel prices could erode purchasing power and worsen the country’s ongoing cost-of-living crisis.

What’s Being Said

“Global oil markets are experiencing extreme volatility, with crude prices rising sharply within days,” said David Bird, Managing Director, Dangote Petroleum Refinery.

“The price of fuel will come down once Brent crude falls after the current global crisis eases,” said Chinedu Ukadike, Spokesman, Independent Petroleum Marketers Association of Nigeria.

“There is little the government can immediately do to halt the surge in prices while global supply disruptions continue,” said Eche Idoko, Spokesman, Crude Oil Refineries Association of Nigeria.

What’s Next

Businesses are expected to adjust pricing structures in response to higher logistics costs
Labour unions may intensify pressure on the government over fuel price increases
Market analysts are closely watching global crude price movements for signs of stabilisation

Fire outbreak at Federal Secretariat, Abuja

Conoil, Oando, NGX group lift Nigerian Stock Market by ₦147bn

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March 10, 2026

By Boluwatife Oshadiya | March 10, 2026

Table of Contents

Key Points

Nigerian stock market gains ₦147 billion as investors drive buying in major stocks
Conoil, Legend Internet, Omatek, NGX Group and Oando lead market rally
All-Share Index rises 228 points to close at 197,196.98

Main Story

The Nigerian stock market opened the trading week on a positive note Monday, with investors recording a ₦147 billion gain as buying interest in several large-cap stocks lifted overall market performance. Market capitalisation rose to ₦126.583 trillion from ₦126.436 trillion recorded at the previous session, representing a 0.12 percent increase.

The Nigerian Exchange All-Share Index (ASI) climbed by 228.83 points to close at 197,196.98, compared with 196,968.15 in the previous session. The rally pushed the market’s year-to-date return to 26.72 percent.

Investor demand was particularly strong in stocks including Conoil, Legend Internet, Omatek, NGX Group and Oando, which led the day’s gainers. Despite the market’s overall positive performance, the trading session ended with a negative breadth as 43 stocks declined while 27 recorded gains.

Aluminium Extrusion Industries topped the losers’ chart with a 10 percent decline to close at ₦13.95 per share. SCOA Nigeria fell by 9.90 percent to ₦30.95, while RT Briscoe dropped by 9.87 percent to ₦10.87.

On the gainers’ side, Conoil, Legend Internet and Omatek each recorded a 10 percent rise, closing at ₦185.90, ₦7.04 and ₦2.42 respectively. NGX Group advanced by 9.97 percent to ₦166, while Oando gained 9.96 percent to settle at ₦54.65 per share.

Trading activity also increased significantly during the session, with total volume rising by 30.09 percent to 762.53 million shares valued at ₦31.23 billion across 86,488 deals.

Fortis Global Insurance recorded the highest trading volume with 127.46 million shares, representing 16.71 percent of total volume, while Aradel Holdings led the value chart with ₦5.07 billion in traded shares.

What’s Being Said

Market analysts say continued investor interest in energy and financial sector stocks is supporting market momentum.

“The rally reflects sustained investor confidence in select high-performing stocks, particularly within the oil and gas and financial sectors,” said Ayodeji Ebo, Managing Director, Afrinvest Securities.

What’s Next

Investors will watch corporate earnings releases and dividend announcements expected later this month.
Analysts say continued foreign investor participation could determine whether the market sustains its strong year-to-date performance.
Monetary policy signals from the Central Bank of Nigeria may also influence market direction in the coming weeks.

JAMB remits N1.57bn to CBT centres for 2026 UTME registration exercise

Zamfara Governor Dauda Lawal defects from PDP to APC

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