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General News

Agusto Assigns “Bbb” Rating to Comercio Partners

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Agusto & Co, a foremost rating agency, has assigned a “Bbb” rating to Comercio Partners Limited, CPL. In a statement announcing the rating, Augusto said: “The rating reflects CPL’s low leverage, adequate capitalisation, good liquidity and competent and experienced management team.”

It added that, “The rating is, however, constrained by concentration in the Group’s investment portfolio, the heavy reliance on proprietary trading income, concentration in funding and the dominance of key stakeholders in the ownership and management.

“We have also considered the significant uncertainty in the economic environment, which has adversely affected businesses and households.

“CPL is a financial services group that offers asset management, securities trading and financial advisory services to high net-worth individuals (HNI), institutional and retail investors.

“The Group, which also operates a proprietary trading desk, comprises six subsidiaries: Comercio Partners Asset Management Limited, Comercio Partners Trading Limited, Comercio Partners Capital Limited, TradeFi Tech Investment Limited, Comercio Partners Property Development Limited and a Special Purpose Vehicle.”

Commenting, Stephen Osho, Co-Managing Partner, Comercio Partners, said: “The recent Bbb rating assigned to Comercio Partners Limited by Agusto & Co is a testament to the commitment of the management and staff of the firm to the highest standards of service.

“We have consistently improved our processes, responsibly and consciously focusing on our drive to meeting the set tasks of empowering minds in Africa and enhancing returns to our numerous shareholders.

“We understand the huge task of striving to stay on top and continuously implementing strategies to meet the desire and aspirations of our clients through innovation of quality products and services in our unique style.”

Similarly, Nnamdi Nwizu, Co-Founding Partner/Executive Director, Trading Division, said, “It is a testament to the hard work, dedication and processes set in place by the organization.

“At Comercio Partners, we ensure that we breathe and live our core values which are, Knowledge, Innovation, Integrity and Excellence. All key ingredients to that ensure that we continue to serve our clients responsibly.

“Whilst this rating puts a lot of responsibility on the firm, we aim and strive to improve, which we are sure will be reflected in future ratings. A big thank you to all our staff and clients who made this possible.”


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General News

FG, Netherlands Partner on Digital Migration for NIS

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The Nigeria Immigration Service (NIS) strengthened bilateral relations with the Netherlands’ government through an agreement targeted at improving migration governance and border security.

This partnership was confirmed during a meeting at the NIS headquarters in Abuja, which was attended by a Dutch team led by Jurgen Bartelink, Chargé D’Affaires of the Embassy of the Netherlands in Nigeria.

The meeting focused on increasing bilateral migration cooperation and came after the comptroller general of Immigration, Kemi Nandap, paid a working visit to the Netherlands.

Under the agreement, the Dutch government pledged to continue supporting technology-driven solutions targeted at boosting Nigeria’s border control systems and improving migration management.

During the Netherlands Embassy diplomats handed over essential operational tools, such as Edison Software licence keys and the Passport Examination Programme Manual App.

According to NIS spokeswoman ACI Akinsola Akinlabi, “The partnership focuses on enhancing bilateral collaboration on migration management and reviewing ongoing capacity-building efforts.”

Bartelink, Chargé d’Affaires of the Netherlands Embassy in Nigeria, underlined the Netherlands’ commitment to helping Nigeria’s continuing border security and migration reforms.

Also speaking, Rob Bokhoven, head of international affairs, repatriation, and deportation services at the Dutch Ministry of Justice and Security, emphasised the country’s strong bilateral relations and announced plans to share a mobile border software solution with the NIS.

Receiving the equipment, Nandap said the delivery of the gadgets would boost West African country’s border security, significantly improve the service’s document verification border management capabilities and support the implementation of Nigeria’s National Migration Policy.

“The engagement will further reinforce the strategic partnership between Nigeria and the Netherlands advancing shared goals in migration governance, border security and international cooperation,” she added.


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AfDB Cuts Nigeria’s Growth Projection to 3.2%

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Peter Enogb, principal country economist, African Development Bank (AfDB), says the rise in global uncertainty, emanating from increases in global trade tariffs, has slowed Nigeria’s projected growth to 3.2% in 2025.

“Without this level of heightened uncertainty, our projections would probably have been somewhat higher. We’ve reduced our projections for Nigeria. We initially were projecting 3.5% – 3.6% growth in 2025.

“But given the current situation, our models are showing that we’re taking a more cautious approach. So that’s why we produced this and, of course, the main driver is uncertainty in the global economy,” Enogb said.

He said this at the launch of the 2025 Nigeria Country Focus Report (CFR) on Thursday.

AFDB projected that real GDP growth would hit 3.1% in 2026. Following the 2024 consumer price index (CPI) rebasing, with lower weights for food items, the inflation rate is expected to reduce over the medium term to 24.7% in 2025 and 17.3% in 2026.

As imports start to rise over the medium term, the current account is projected to decline to 3.9% of GDP in 2026.

The National Bureau of Statistics (NBS) reported that Nigeria’s headline inflation slowed for the second consecutive month to 22.97% in May. This is down from 24.48% at the start of the year

This is contrary to the World Bank projection that Nigeria’s economy would record steady growth of 3.6% despite the shift in the global trade dynamics.

Joseph Ogebe, head of research and development at Nigerian Economic Summit Group (NESG), also said that global uncertainty had been very high in recent times, resulting from the Trump 2.0 effect.

“And also with the recent war between Israel and the international community, we’ve seen what’s happening to oil prices. Even with the call-off of the war, we’ve seen the effect on oil prices too, which has implications on the fiscal side. So it has implications for the general economy,” he said.

The head of research at NESG said that rather than focusing on just growth, what should be looked at is a strategy called growth with depth.

“Growth with depth means that your growth must be diversified, export-led, productive, and technologically driven,” he said.

Ogebe said that if the Government works towards adopting a strategy of growth with depth, there is a tendency for the government to move towards its goal of achieving a $1 trillion economy by 2030.

The report revealed that the country’s recent policy moves, including fuel subsidy removal, exchange rate unification, and tax reforms, reflect a commitment to long-term transformation.

However, it also pointed out that at about 13%, Nigeria’s tax-to-GDP ratio is among the lowest in West Africa, noting that fiscal reforms are urgent.


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TikTok Expands Mental Health Support, Unveils Digital Safety Tools in Africa

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TikTok has announced the expansion of its global mental health fund to Sub-Saharan Africa and introduced new digital safety tools aimed at improving well-being on the platform.

The announcement was made at the inaugural Digital Well-being Summit held in Johannesburg, South Africa, with participants including government officials, mental health experts, NGOs and industry leaders from several African countries.

As part of the initiative, three organisations—South African Depression and Anxiety Group (SADAG), Mentally Aware Nigeria Initiative (MANI), and Kenya’s Mental360—were named as the first African beneficiaries of the platform’s $2.3 million Mental Health Education Fund.

TikTok also introduced an in-app guided meditation feature called “Sleep Hours,” rolled out globally to support better nighttime routines for users. The tool is automatically enabled for users under 18 from 10 p.m., with optional use for older users.

According to the company, the move is part of its broader efforts to support mental health, reduce stigma, and increase access to reliable support services on its platform.

The platform is also expanding access to local in-app mental health helplines across Africa, following successful pilots in Europe. The helplines will offer expert support on issues such as self-harm, harassment, and suicidal ideation.

Additionally, TikTok unveiled its first set of Mental Health Ambassadors in Africa under its collaboration with the World Health Organization. The ambassadors include medical professionals from South Africa, Nigeria, and Kenya.

Valiant Richey, TikTok’s Global Head of Trust and Safety Outreach, said the company remained committed to creating a safe and supportive space for users across all regions.

The summit featured discussions on online safety, digital literacy, and access to professional mental health resources, with support from local partners such as Spectra.


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