Sami Tunji

Abuja, Nigeria

Writer, Researcher and Editor at Freelance

Senior Business Correspondent at The Punch

Writer. Researcher. Editor || Senior Business Correspondent @MobilePunch || MBA candidate @QuanticSchool || published on @Nairametrics @TheAfricaReport

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Articles

NSIA plans to exit fertiliser programme

1 week ago | punchng.com | Sami Tunji

The Nigeria Sovereign Investment Authority has announced plans to withdraw from the Presidential Fertiliser Initiative, marking the conclusion of an eight-year intervention that increased the number of operational blending plants from four in 2017 to over 90 across the country. The planned exit was disclosed at the NSIA’s 2024 Earnings Presentation and media engagement held in Abuja on Wednesday.
NSIA to exit fertiliser programme after eight years

1 week ago | punchng.com | Sami Tunji

The Nigeria Sovereign Investment Authority has announced plans to withdraw from the Presidential Fertiliser Initiative. This marked the conclusion of an eight-year intervention that increased the number of operational blending plants from four in 2017 to over 90 across the country. The planned exit was disclosed at the NSIA’s 2024 Earnings Presentation and media engagement held in Abuja on Wednesday.
FG, states, LGs share N1.578tn FAAC allocation for March

1 week ago | punchng.com | Sami Tunji

Federation Account Allocation Committee The Federation Account Allocation Committee has shared a total of N1.578tn among the three tiers of government for March 2025, marking the third consecutive monthly decline in revenue disbursements this year. This was disclosed in a statement on Tuesday by the Director of Press and Public Relations, Office of the Accountant General of the Federation, Bawa Mokwa, after the April FAAC meeting in Abuja.
Nigeria’s inflation rose to 24.23% in March 2025 - NBS

1 week ago | punchng.com | Sami Tunji

Nigeria’s headline inflation rose to 24.23 per cent in March 2025, up from 23.18 per cent recorded in February, according to the latest data released by the National Bureau of Statistics. The figure represents a 1.05 percentage point increase, marking a sustained rise in the general price level across the country. On a month-on-month basis, inflation rose sharply by 3.90 per cent in March, compared to 2.04 per cent in February, indicating that the average price level increased at a faster pace.
Recapitalisation: CBN cautions banks against illicit funds

1 week ago | punchng.com | Sami Tunji

The Central Bank of Nigeria has warned deposit money banks to avoid raising capital from illicit sources as part of the ongoing recapitalisation exercise. The apex bank said the measure was necessary to preserve financial system stability and ensure that the banking sector remains strong enough to support the country’s $1tn economic target.
Nigeria’s external debt servicing may hit $5.2bn -Fitch

1 week ago | punchng.com | Sami Tunji

Nigeria’s external debt service is projected to rise to $5.2bn this year, highlighting growing pressure on public finances despite ongoing economic reforms, Fitch Ratings has said. The credit rating agency disclosed this in its latest rating action commentary published on Friday, in which it upgraded Nigeria’s long-term foreign-currency issuer default rating to ‘B’ from ‘B-’, with a stable outlook.
BPP, anti-graft agencies partner to tackle procurement fraud

1 week ago | punchng.com | Sami Tunji

The Bureau of Public Procurement says it is strengthening collaboration with anti-corruption agencies to enhance transparency and accountability in Nigeria’s procurement processes. Director-General of the BPP, Dr Adebowale Adedokun, disclosed on Monday in Abuja at a national stakeholders’ interactive workshop with civil society organisations on emerging trends in procurement practices.
NIPOST eyes restructuring

1 week ago | punchng.com | Sami Tunji |Moses Adewole

The Chairman of the Nigerian Postal Service Governing Board, Barrister Isaac Kekemeke, has admitted that the agency has failed to meet public expectations over the years but is now poised for a turnaround. Speaking at the maiden meeting with top management, General Managers of Commercial Business Units, and State Postal Managers in Abuja on Monday, Kekemeke said efforts were underway to reposition NIPOST and restore the confidence of Nigerians.
BPP to sanction procurement officers over inflated projects

1 week ago | punchng.com | Sami Tunji

BPP Boss, Adebowale Adedokun The Bureau of Public Procurement has issued a stern warning to procurement officers across ministries, departments and agencies, stating that it will expose and sanction any official involved in inflating contract costs or circumventing due process.
Nigeria spent $2bn on W’Bank, IMF loans repayment - Report

1 week ago | punchng.com | Sami Tunji

Nigeria has spent a total of $2.32bn in servicing its debt to the World Bank and International Monetary Fund in 2024. This is a significant increase from the $998.92m paid to both institutions in 2023, according to data from the Debt Management Office. Analysis of the 2024 external debt service report showed that Nigeria paid $689.44m to the World Bank, comprising $663.23m to the International Development Association and $26.21m to the International Bank for Reconstruction and Development.