Category: Business

Oduwole endorses Sigvent Industrial Cluster, says project will unlock Ogbomoso’s economic potential

Lukman Laleye Babalola

The Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, has endorsed the Sigvent Industrial Cluster Limited as a transformative project capable of unlocking the vast economic potential of Ogbomosoland, while driving industrialisation, innovation, job creation, and enterprise development. Dr. Oduwole made the remarks at the Ogbomoso Economic Summit and Exhibition held in Ogbomoso, Oyo State, where she commended the promoters of the Sigvent Industrial Cluster for their vision and commitment to inclusive economic growth. According to the Minister, the initiative aligned with the Federal Government’s industrialisation strategy, which prioritized…

Over ₦673million Diaspora Investment deals recorded in 2024 — Dabiri-Erewa ….. Says NDIS 2025 hold Nov.,11th-13th in Abuja

Lukman Laleye Babalola

The Chairman/CEO of the Nigerians in Diaspora Commission (NiDCOM), Hon. Abike Dabiri-Erewa, has urged Nigerians in the diaspora and at home to take advantage of growing investment opportunities through the Nigeria Diaspora Investment Summit (NDIS), as the 2024 edition recorded over ₦673 million worth of investment deals.   Dabiri-Erewa made the call at a joint world press conference ahead of the 2025 Nigeria Diaspora Investment Summit, scheduled to hold from November 11 to 13, 2025, in Abuja, with the theme: “Fast Tracking Regional and National Development by Mobilising Diaspora Investment.”…

Nigeria Customs leads stakeholders’ engagement on emerging threats in Cross-Border trade

Lukman Laleye Babalola

In a continued demonstration of its commitment to safeguarding Nigeria’s economy and national security, the Nigeria Customs Service (NCS) on Tuesday, 30 September 2025, led a sensitisation lecture on emerging threats in cross-border trade, with a sharp focus on trade-based financial crimes. Held at the Sterling Academy Hub, Sterling Bank Plaza, Abuja, the capacity-building engagement brought together stakeholders from financial institutions, compliance bodies, and regulatory agencies. The session addressed growing threats such as Trade-Based Money Laundering (TBML), Trade-Based Terrorism Financing (TBTF), and Trade-Based Proliferation Financing (TBPF). Themed “Emerging Threats or…

Customs, NCC strengthen partnership to enhance revenue generation, national security

Lukman Laleye Babalola

The Nigerian Customs Service and the Nigerian Communications Commission (NCC) have formalized a strategic partnership aimed at bolstering revenue generation, national security, and consumer protection. This collaborative effort seeks to improve the monitoring and regulation of imported communication devices, thereby ensuring compliance with established standards and regulations. This was disclosed by the agencies during a courtesy visit by the Executive Vice Chairman and Chief Executive Officer of the NCC, Aminu Maida, at the Customs House in Abuja.   The Comptroller-General of Customs, Adewale Adeniyi, emphasized the importance of synergy between…

Customs, MAN seal new partnership to drive industrial growth

Lukman Laleye Babalola

The Nigeria Customs Service (NCS) and the Manufacturers Association of Nigeria (MAN) have entered into a strategic partnership aimed at boosting industrial growth, facilitating trade, and enhancing Nigeria’s economic competitiveness.   The agreement followed a high-level consultation in Lagos on Friday, 26 September 2025, where both parties signed a joint communiqué after over six hours of deliberations. The document was endorsed by Comptroller-General of Customs, Adewale Adeniyi, and MAN President, Francis Meshioye.   CGC Adeniyi reaffirmed Customs’ commitment to balancing revenue generation with reforms that promote industrialisation and job creation.…

Nigeria Customs unveils One-Stop-Shop to cut cargo clearance time to 48 hours

Lukman Laleye Babalola

The Nigeria Customs Service (NCS) has introduced a One-Stop-Shop (OSS) Initiative aimed at reducing cargo clearance time from 21 days to 48 hours, in line with global best practices and the Federal Government’s Ease of Doing Business policy. The reform was unveiled on Thursday, 23rd September 2025, during a meeting of NCS Management and Customs Area Controllers in Abuja, chaired by the Comptroller-General of Customs (CGC), Adewale Adeniyi.   Describing the OSS as a “transformative shift,” Adeniyi said the initiative would sanitise operations, minimise duplication of efforts, and restore transparency…

Airline Operators hail Customs for reforms, strengthened collaboration

Lukman Laleye Babalola

The Airline Operators of Nigeria (AON) has applauded the Nigeria Customs Service (NCS) for introducing business-friendly reforms that have eased operations in the aviation sector.   A delegation from the AON Board of Trustees, led by its President, Abdulmunaf Sarina, paid a courtesy visit to the Comptroller-General of Customs (CGC), Adewale Adeniyi, in Abuja on Monday, September 22, 2025. Welcoming the delegation, Adeniyi described AON as a key player in the nation’s economy, noting that the association’s contributions go beyond financial investment to include expertise and innovation. He explained that…

CAC, SMEDAN unveil free registration for 250,000 small businesses

Lukman Laleye Babalola

As part of President Bola Ahmed Tinubu’s Renewed Hope Initiative, the Federal Government has launched the free registration of 250,000 Micro, Small and Medium Enterprises (MSMEs) across the country.   The landmark scheme was unveiled in Abuja with the signing of a Memorandum of Understanding (MoU) between the Corporate Affairs Commission (CAC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN). Registrar-General/CEO of CAC, Hussaini Ishaq Magaji, SAN, said the initiative would ease the burden of registration by waiving all statutory fees for business names. He assured that…

Customs, MAN renew partnership to tackle economic challenges

Lukman Laleye Babalola

The Comptroller-General of Customs (CGC), Adewale Adeniyi, has called for stronger collaboration between the Nigeria Customs Service (NCS) and the Manufacturers Association of Nigeria (MAN) to address economic challenges and promote sustainable growth.   Adeniyi made the call on Thursday, September 18, 2025, when MAN’s Director-General, Segun Ajayi-Kadiri, paid him a courtesy visit at the Customs House in Maitama, Abuja. The Customs chief stressed the need to set a new agenda that goes beyond immediate concerns, noting that lasting partnerships can only thrive when both parties understand each other’s challenges…

Nigeria Customs confirms suspension of 4% FOB implementation following Finance ministry directive

Lukman Laleye Babalola

The Nigeria Customs Service (NCS) has acknowledged the directive of the Federal Ministry of Finance suspending the implementation of the 4% Free-on-Board (FOB) charge on imported goods. In a statement signed by the National Public Relations Officer, Assistant Comptroller of Customs, Abdullahi Maiwada, the Service noted that consultations have already commenced with the supervisory ministry to explore alternative measures during the suspension period in order to ensure seamless service delivery. “The Service appreciates the Ministry’s engagement on this matter and remains committed to supporting government fiscal policies,” the statement read.…