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CBN Cuts Interest Rate to 23% After September MPC Meeting
The Central Bank of Nigeria (CBN) has reduced the country’s Monetary Policy Rate (MPR) from 26.5% to 23%, following the conclusion of its September Monetary Policy Committee (MPC) meeting in Abuja. The 350-basis-point reduction was announced by CBN Governor Olayemi Cardoso after the committee’s two-day meeting held on September 21 and 22.
Qatar Charity Expands Abuja Housing Project With $10m Gaduwa Development
Qatar Charity is expanding its operations in Nigeria with an enlarged Abuja field office and an ongoing $10 million integrated housing development in Gaduwa, Federal Capital Territory, combining residential accommodation with healthcare and education facilities.
FG Releases 300 Containers of Power Equipment for Nationwide Transmission Upgrade
The Federal Government has released more than 300 containers of critical power equipment held at Nigerian ports for deployment and installation across the country’s transmission network, as part of a broader effort to strengthen electricity supply and unlock stranded capacity.
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FirstTrust Expands Mortgage Financing Options for Nigerians
FirstTrust Mortgage Bank has expanded its mortgage financing options for Nigerians, offering a broader range of products covering home purchases, mortgage refinancing, property improvement and residential property acquisition by Nigerians living abroad.
Lagos Orders Residents in Flood Prone Areas to Relocate as NiHSA Alert Takes Effect
The Lagos State Government has directed residents living in low-lying and flood-prone communities to relocate temporarily to safer, higher ground following a fresh seven-day flood alert issued by the Nigerian Hydrological Services Agency (NiHSA).
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FG Rules Out Immediate Electricity Tariff Hike as ₦1.23tn Raised for Power Debt
The Federal Government has ruled out an immediate increase in electricity tariffs after raising ₦1.23 trillion to address outstanding obligations in Nigeria’s power sector.
Dangote Targets Over $10bn Power Investment as Steel Business Faces Cancellation
Aliko Dangote has disclosed plans by Dangote Industries to invest more than $10bn in power, while the group is considering cancelling one or two planned businesses, including steel, and redirecting the capital towards electricity infrastructure. The disclosure highlights the growing importance of private investment in addressing Africa’s persistent power deficit and supporting industrial expansion.
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