Here are the seven top business stories you need to track this week — December 1 to December 5.
SMDF, ORDF TO CREATE NIGERIA’S FIRST MINING FINANCE FRAMEWORK
The solid minerals development fund (SMDF) has partnered with the Ores Reserves Development Forum (ORDF) to develop a mining finance framework addressing miners’ funding difficulties.
The ORDF is an initiative that evolved from roundtable discussions on mining finance held by the Geological Society of Nigeria (GSN) with the aim of addressing the significant challenges miners face in accessing funding.
Advertisement
In a statement on November 24, Fatima Shinkafi, the SMDF executive director, said financing has been identified as a major challenge affecting the mining sector due to limited investor confidence in geological and project data.
CBN SAYS 16 BANKS HAVE MET ITS CAPITAL REQUIREMENTS
The Central Bank of Nigeria (CBN) said 16 banks have fully met the regulatory capital requirements.
Advertisement
Speaking during a press briefing on November 25, Olayemi Cardoso, governor of CBN, said the monetary policy committee (MPC) expressed satisfaction with the sustained resilience of the banking system, with most financial soundness indicators remaining within regulatory thresholds.
KEYAMO SAYS FG MAY SEIZE DANA AIR ASSETS TO REFUND PASSENGERS
Festus Keyamo, the minister of aviation and aerospace development, said the federal government may seize Dana Air’s assets to refund passengers and travel agents whose funds remain trapped.
Speaking on November 25, Keyamo said he will also instruct the Nigeria Civil Aviation Authority (NCAA) to investigate why the affected refunds have not been processed.
Advertisement
FG DESIGNATES UYO AIRPORT FOR INTERNATIONAL FLIGHTS
On November 27, the federal government designated the Victor Attah International Airport in Uyo for international operations.
Keyamo said the airport had long met key infrastructure requirements, describing it as a “hidden gem” with facilities that rival some international airports.
The minister said the designation takes effect immediately, but full international operations will commence once the technical checks are concluded and a take-off date is agreed.
Advertisement
TINUBU APPROVES ESTABLISHMENT OF COMMITTEE FOR IMPLEMENTATION OF TAX REFORMS
President Bola Tinubu has approved the establishment of the national tax policy implementation committee (NTPIC).
Advertisement
In a statement on November 28, Bayo Onanuga, special adviser to the president on information and strategy, said the committee will ensure the implementation of the administration’s tax reforms in line with the economic aspirations of the government and the people of Nigeria.
GOOGLE COMMITS N3BN TO BOOST AI TALENT IN NIGERIA
Advertisement
Google, through its philanthropic arm Google.org, announced a N3 billion commitment to support Nigeria’s digital transformation through a two-pillar initiative focused on artificial intelligence (AI) talent development and digital safety.
Speaking on November 28, Olumide Balogun, director for West Africa at Google, said the funding would support programmes to build advanced AI capacity and strengthen digital security across communities.
Advertisement
NIGERIA ELECTED INTO INTERNATIONAL MARITIME COUNCIL
Nigeria has been elected into category C of the International Maritime Organisation (IMO) council.
Category C consists of 20 states which have special interests in maritime transport or navigation, and whose election to the council will ensure the representation of all major geographic areas of the world.
In a post on X on November 28, the Nigerian Maritime Administration and Safety Agency (NIMASA) said the country’s return to the council seat is a testament to Nigeria’s growing influence in the global maritime community.
The Nigerian Ports Authority (NPA), said the achievement underscores the visionary leadership, commitment to global best practices, and tireless efforts of Gboyega Oyetola, minister of marine and blue economy, alongside the dedicated heads of agencies under the ministry.
