City Business News @10: Oyeyemi Headlines Lecture on Logistics, Nigeria’s Economy

City Business News will celebrate its 10th anniversary with a high-profile lecture focusing on the critical role of transportation and logistics in Nigeria’s economic development.

The anniversary lecture, scheduled for Thursday, June 25, 2026, will hold at Rockview Hotels from 10:00am.

Publisher of City Business News Online, Moses Ebosele, disclosed this, adding the milestone represents a decade of impactful business journalism, credible reporting, and sustained coverage of Nigeria’s economic and industrial sectors.

He said in a statement that the major highlight of the event would be a keynote address titled, “Logistics As The Engine Room Of Nigeria’s Economy,” to be delivered by Boboye Oyeyemi, a renowned transportation and logistics expert.

Oyeyemi, who is the immediate past Corps Marshal of the Federal Road Safety Corps and current President of the Chartered Institute of Logistics and Transport, is expected to lead discussions on how efficient logistics and transport systems can drive national competitiveness, trade, and economic growth.

According to Ebosele, the event will attract major stakeholders from government institutions, regulatory agencies, the private sector, and the media.

Expected guests and organisations include Frank Nneji, founder of ABC Transport, alongside representatives of the Nigeria Customs Service, Nigerian Ports Authority, Nigerian Maritime Administration and Safety Agency, Nigerian Shippers’ Council, banks, and leading automobile companies.

Ebosele said the anniversary lecture would also serve as a platform for robust conversations on the future of logistics, transportation, and supply chain management in Nigeria.

He expressed appreciation to readers, advertisers, partners, and stakeholders for their support over the last decade, while reaffirming the organisation’s commitment to professionalism, excellence, and impactful business journalism.

Naira Trades Steady at ₦1,361 Amid Mixed Forex Market Signals

The Dollar to Naira exchange rate today showed relative stability on Monday, May 11, 2026, as the Nigerian naira continued to trade within a narrow range across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel (black) market, supported by ongoing interventions from the Central Bank of Nigeria (CBN).

In the official foreign exchange market (NFEM), the naira traded at an average rate of about ₦1,361 per US dollar, with intraday movements fluctuating between approximately ₦1,355 and ₦1,366 depending on demand and supply conditions. Market analysts say this slight movement reflects continued pressure from importers, corporate dollar demand, and seasonal foreign payments, even as the CBN maintains liquidity interventions to stabilise the forex market.

In the parallel market, also known as the black market or Bureau De Change (BDC) segment, the dollar traded significantly higher than the official rate. Buying rates were recorded around ₦1,385 per dollar, while selling rates ranged between ₦1,395 and ₦1,405, depending on location and transaction volume. Traders in Lagos and Abuja attributed the higher rates to strong retail demand for dollars, especially for tuition payments, medical travel, and import-related transactions.

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Analysts note that the gap between the official and parallel market rates remains a key indicator of foreign exchange pressure in Nigeria, although the spread has shown slight signs of narrowing in recent weeks due to improved FX liquidity management and policy adjustments by the CBN.

Economic experts point to several factors influencing the Naira exchange rate today, including sustained CBN forex interventions, high import dependency, diaspora remittances, oil revenue inflows, and ongoing speculative activity in the black market. These forces continue to shape daily movements in both official and unofficial FX channels.

Financial observers also highlight the CBN’s “willing buyer, willing seller” FX policy framework as a key driver of improved transparency in the official market, although demand-side pressures continue to test the resilience of the naira.

Despite the current relative stability, analysts warn that the naira remains vulnerable to external shocks such as global oil price fluctuations and sudden spikes in dollar demand. They stress that long-term stability will depend on stronger export performance, increased foreign investment inflows, and improved domestic production capacity.

For now, the Nigeria forex market is described as stable but fragile, with traders closely monitoring policy signals and liquidity conditions that could influence future movements of the Dollar to Naira exchange rate.

Naira Trades Steady at ₦1,361 Amid Mixed Forex Market Signals

ABC Transport Unveils Archive Centre to Showcase Decades of Innovation, Excellence

In a remarkable celebration of legacy, innovation and corporate heritage, ABC Transport Plc officially unveiled its Historic and Archive Centre on Thursday, April 30, 2026, at the company’s corporate headquarters in Owerri, Imo State.

The unveiling, which coincided with the birthday celebration of the company’s founder, Frank Nneji, marked another significant milestone in the 33-year journey of one of Nigeria’s most innovative and diversified transport and logistics companies.

Founded on February 13, 1993, ABC Transport Plc has evolved from a visionary transport company into a nationally recognised brand known for pioneering modern transport solutions, operational excellence and customer-focused innovation across Nigeria and West Africa.

The newly commissioned Historic and Archive Centre was established to document, preserve and showcase the company’s rich history and transformational journey over the decades.

The facility houses an extensive collection of historical artefacts, awards, photographs, archival documents, video recordings and memorabilia from some of the company’s defining moments.

Among the notable exhibits are memorabilia from the commissioning of the first ABC coach, the launch of Nigeria’s first ultra-modern transport terminal, the expansion into regional operations through Coach West Africa, and several landmark achievements that helped redefine road transportation and logistics services in Nigeria.

Over the course of its 33-year history, ABC Transport Plc has recorded several groundbreaking milestones, including:

1993 – Launch of the company’s first Owerri-Lagos route

1996 – Introduction of ABC Cargo Express services

1998 – Launch of Sleeper Coach Services

1999 – Partnership with NIPOST for mail transportation services

2000 – Establishment of the Driver Training Academy and commencement of e-ticketing services

2001 – Commissioning of the first ultra-modern transport terminal in West Africa, located in Abuja

2003 – Celebration of the company’s 10th anniversary and commissioning of Terminal 3 in Amuwo Odofin, Lagos

2004 – Launch of Coach West Africa, pioneering regional transport routes across West Africa

2006 – Listing on the Nigerian Stock Exchange and collaboration with state governments on municipal transport projects

2007 – Launch of the Shuttle Service and opening of the Port Harcourt Mega Terminal

2008 – Establishment of ABC Haulage and commencement of Sprinter Services

2012 – Launch of the Undergraduate Scholarship Award Scheme

2014 – Rollout of the first trucks from the company’s assembly-line subsidiary

2023 – Corporate rebranding, incorporation of ABC Cargo Express, and celebration of the company’s 30th anniversary

2026 – Celebration of 33 years of operations and unveiling of the Historic and Archive Centre

Designed as both a heritage and educational facility, the centre provides a serene and intellectually engaging environment where students, researchers, transport enthusiasts, business leaders and members of the public can learn about the evolution of the transport industry through the lens of ABC Transport’s journey. The facility also reflects the company’s commitment to institutional memory, leadership, innovation and nation-building.

The event was intimate yet deeply symbolic, bringing together alumni staff, pioneer employees, current management and staff, strategic partners, family members and longtime associates of the organisation who played significant roles in its early development and sustained growth.

Guests at the occasion shared memories and reflections on the company’s humble beginnings, transformational milestones and enduring impact on Nigeria’s transportation sector. The celebration also featured a special birthday cake-cutting ceremony in honour of the founder, whose visionary leadership laid the foundation for the company’s success story.

Speaking during the unveiling ceremony, the Group Managing Director/CEO of ABC Transport Plc, Jude Nneji, described the Historic and Archive Centre as a strategic investment in preserving institutional heritage and inspiring future generations.

“This Historic and Archive Centre is more than a collection of memories; it is a living testament to resilience, innovation, vision and the pioneering spirit that built ABC Transport over the last 33 years.

“As we continue to evolve as a modern transport and logistics company, it is important that we preserve the stories, sacrifices, milestones and achievements that shaped our journey.

“We want young people, students, professionals and future entrepreneurs to walk into this centre and understand that great institutions are built through vision, consistency, courage and service. This centre ensures that the legacy of our founder and the collective efforts of everyone who contributed to this journey will continue to inspire generations to come,” he said.

The unveiling of the Historic and Archive Centre represents yet another bold step in ABC Transport Plc’s continued commitment to excellence, innovation and legacy preservation as the company positions itself for the future while honouring its storied past.

As ABC Transport celebrates 33 years of transformational impact, the company remains steadfast in its mission to deliver safe, reliable and innovative transport and logistics solutions while continuing to shape the future of mobility and logistics in Nigeria and beyond.