Business Archives - Page 7 of 33 - Independent Digital News Network

NAFDAC Uncovers ₦3bn Fake Drug Syndicate in Lagos, Seizes Over 10 Million Doses

Nigeria’s drug regulator has uncovered one of the largest counterfeit medicine operations in recent years, seizing over 10 million fake and banned drug doses worth more than ₦3 billion in Lagos. The bust exposes a sophisticated international syndicate cloning life-saving medicines and pushing them into local markets, raising fresh alarms about public health safety and regulatory enforcement.

IMF Growth List Sparks Debate After Elon Musk Reacts to Nigeria Ranking

IDNN8 months ago8 months ago0

Nigeria’s inclusion on an International Monetary Fund list of top global growth contributors has triggered online debate after billionaire Elon Musk reacted to the ranking. While the IMF data reflects projected contributions to global growth, economists caution that headline figures often mask domestic pressures, turning the spotlight on how global metrics intersect with local realities.

Oshiomhole Says Viral Private Jet Clip Is AI-Generated

IDNN8 months ago8 months ago0

Former Edo State governor Adams Oshiomhole has dismissed a viral private-jet clip circulating online as an AI-generated fabrication, rejecting allegations implied by the footage. The claim has intensified scrutiny of manipulated media, as observers weigh the responsibilities of platforms, the speed of online amplification and the difficulty of verifying content in high-profile political disputes.

World Bank Praises Nigeria’s Reform Consistency as Tinubu Says ‘No Turning Back’

IDNN8 months ago8 months ago0

The World Bank has commended Nigeria for maintaining consistency in its ongoing economic reforms, while President Bola Tinubu reaffirmed his administration’s commitment to staying the course despite short-term pressures. The remarks come as the government pushes fiscal and monetary adjustments aimed at stabilisation, investor confidence and long-term growth.

What Emefiele Told Buhari: Memo Reveals Naira Redesign Approval Trail

IDNN8 months ago8 months ago0

A memo submitted by former Central Bank Governor Godwin Emefiele to then President Muhammadu Buhari has surfaced, outlining the approval process behind Nigeria’s controversial naira redesign. The document, now cited in court proceedings, traces institutional consent at the highest level and intensifies scrutiny of responsibility, due process, and the legal weight of executive approval in one of Nigeria’s most disruptive monetary decisions.

FCT Strike Ends as NLC, TUC Direct Workers to Resume

IDNN8 months ago8 months ago0

The industrial action that paralysed parts of the Federal Capital Territory has ended after the Nigeria Labour Congress and the Trade Union Congress directed workers to resume duties. The decision followed negotiations with the FCT Administration, raising expectations of restored public services while shifting attention to whether agreed terms will be implemented beyond the immediate return to work.

FG to Share Electricity Subsidy Burden With States From 2026

IDNN8 months ago8 months ago0

The Federal Government has announced plans to share electricity subsidy costs with state and local governments from 2026, ending the long-standing practice of carrying the burden alone. Officials say the move is aimed at transparency and fiscal discipline, as Nigeria grapples with mounting power-sector debt and seeks to stabilise an electricity market strained by unpaid subsidies.

Onitsha Traders Reopen Market as Army Warns IPOB/ESN Remnants

IDNN8 months ago8 months ago0

Commercial activity has resumed at the Onitsha Main Market after years of disruption, as traders returned amid renewed security assurances from the Nigerian Army. The move follows sustained operations against violent groups in the South-East and marks a critical test of confidence in security efforts, economic recovery, and the state’s ability to restore normalcy in one of Nigeria’s largest trading hubs.

Onitsha Main Market Reopens as Soludo Defies Sit-at-Home Order

IDNN8 months ago8 months ago0

Onitsha Main Market reopened on Monday under heavy security as Anambra State Governor Chukwuma Soludo moved to enforce economic activity despite a sit-at-home order. The decision pits state authority against disruption fears, reopening debate about governance, security enforcement, and how long traders can absorb economic paralysis in Nigeria’s major commercial hubs.

Health Minister: Prayers Won’t Fix Nigeria’s Healthcare System

IDNN8 months ago8 months ago0

Nigeria’s Health Minister has warned that faith alone cannot resolve the country’s deep healthcare challenges, arguing that structural reforms, sustained funding, and accountability are required to reverse decades of underinvestment. The remarks reopen debate on how Nigeria balances belief, policy, and evidence-based planning as pressure mounts on hospitals, health workers, and patients nationwide.