States Pocket N2.37tn VAT Windfall as New Tax Sharing Formula Boosts Revenue
State governments across Nigeria received a massive N2.37 trillion from Value Added Tax (VAT) revenue in the first half of…
Category: Business
Nigeria FX Spot Transactions Push Weekly Forex Turnover Up 46% to $2.39 Billion
Nigeria’s foreign exchange market staged a strong comeback in the week ended July 17, 2026, as soaring FX spot transactions…
MPC Set to Hold Interest Rate at 26.50% as Inflation Risks and Global Oil Tensions Persist
Nigeria’s Monetary Policy Committee (MPC) is widely expected to leave the benchmark interest rate unchanged at 26.50 per cent when…
Abuja CityWalk to make FCT Africa’s next investment hub – Tinubu
Nigeria’s ambition to become a leading destination for global investment received a major boost as President Bola Tinubu threw his…
OPEC Warns High Inflation Could Undermine Nigeria’s Economic Gains Despite Rising Oil Output
Nigeria’s economy may be enjoying a boost from rising crude oil production and stronger government revenues, but the Organisation of…
SEC Pushes for Near-Zero Trade Failures as Nigeria’s T+1 Settlement Reform Gains Momentum
Nigeria’s capital market is entering a new era of speed and efficiency as the Securities and Exchange Commission (SEC) intensifies…
Nigerian Crude Prices Surge as US-Iran Conflict Disrupts Strait of Hormuz Shipping
Nigerian crude prices surged to a 10-day high after escalating military tensions between the United States and Iran sparked fresh…
Banking Stocks Surge 9.3% as Recapitalisation Sparks Investor Confidence on NGX
Renewed investor confidence in Nigeria’s banking sector fueled a strong rally in banking stocks last week, with the sector index…
Agribusinesses in Nigeria, Kenya, three others to get recognitions
The race to celebrate Africa’s food and agriculture champions has officially begun as public nominations open for the inaugural Foodies…
FG Raises N729bn Bond to Clear GenCos’ Debts, Boost Nigeria’s Power Sector Stability
The Federal Government has unveiled plans to raise approximately N729 billion through a new bond issuance to settle verified legacy…
IPMAN Warns Rising Petrol Imports Could Trigger Higher Fuel Prices in Nigeria
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has sounded the alarm over the growing number of petrol import licences…
Dollar sale row: Marketers halt Dangote fuel loading, FG steps in
Nigeria’s downstream petroleum sector has been thrown into fresh uncertainty following reports that the Dangote Petroleum Refinery has adopted a…
CBN Capital Rules Could Trigger N972bn Equity Rush for Nigerian Banks
Nigeria’s banking sector could be on the verge of a massive capital-raising exercise as new proposals from the Central Bank…
$400 Million AI Inference Chip Deal Signals Shift Away from Nvidia-Dominated GPU Market
The artificial intelligence industry may be witnessing the start of a new era as General Compute, an AI inference cloud…
CBN HoldCo Capital Buffer May Force Nigerian Banks to Raise N1.7 Trillion, RenCap Warns
Nigeria’s banking sector could be heading for another major capital-raising exercise as Renaissance Capital (RenCap) has warned that the Central…
Tinubu Signs Virtual Assets Executive Order, Launches Council to Strengthen Crypto Regulation in Nigeria
President Bola Tinubu has signed the Presidential Executive Order on Virtual Assets Coordination, 2026, marking a major step toward creating…
Dangote Refinery Emerges Major Winner as US-Iran Conflict Boosts Demand, Wealth Soars
Africa’s richest man, Aliko Dangote, is emerging as one of the biggest beneficiaries of the global energy market disruptions triggered…
Nigeria Crude Oil Production Hits N41.7tn in Six Months as Output Shows Strong Recovery
Nigeria earned an estimated N41.74 trillion from crude oil and condensate production in the first six months of 2026, highlighting…
Dangote Refinery Crude Imports Raise Fresh Doubts Over Nigeria’s Crude-for-Naira Policy
Nigeria’s crude-for-naira initiative has come under renewed scrutiny following revelations that the Dangote Petroleum Refinery imported nearly 39.9 million barrels…
African Leaders Launch Bold Plan to Boost Intra-African Livestock Trade Under AfCFTA
African leaders have unveiled an ambitious strategy to unlock the full potential of the continent’s livestock industry, with a renewed…
Telecom operators endorse NCC framework
Nigeria’s telecommunications industry has thrown its weight behind the Nigerian Communications Commission’s (NCC) proposed Mobile Virtual Network Operator (MVNO) business…
Nigeria Net FX Reserves Surge Over 1,200% as CBN Reforms Boost Investor Confidence
Nigeria’s net foreign exchange (FX) reserves have recorded a remarkable increase of more than 1,200 percent, rising from about $3…
Nigerian Equities Market Loses N32bn as Profit-Taking Halts Bullish Rally
The Nigerian equities market suffered a setback on Thursday as investors lost an estimated N32 billion following widespread selloffs that…
Businesses urged to prepare for AI misinformation before polls
As Nigeria moves closer to the 2027 general election, businesses, investors, and institutions are being urged to strengthen their crisis…
CBN Unveils FX BDC Purchase Tracker to Monitor Bureau De Change Transactions in Real Time
The Central Bank of Nigeria (CBN) has rolled out a new digital monitoring platform known as the FX BDC Purchase…
Fintech raises capital for African expansion
Nigeria’s leading fintech company, Mathesis Analytics, has secured a strategic investment from First Ally Capital, a move set to accelerate…
CBN Launches Digital FX Tracker, Tightens Rules for BDC Dollar Purchases Through Banks
The Central Bank of Nigeria (CBN) has unveiled a new digital platform designed to monitor foreign exchange transactions involving Bureau…
BUA Cement Selloff Drags Nigerian Stock Market Lower Despite First HoldCo’s Record-Breaking Rally
The Nigerian stock market closed slightly lower on Thursday as a steep decline in BUA Cement overshadowed impressive gains recorded…
PETROAN Urges Refinery Revival as Dangote Refinery Switches to Dollar Sales
Nigeria’s downstream petroleum sector is facing renewed uncertainty as the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has…
NERC CapEx Order Triggers Power Sector Showdown as DisCos, State Regulators Push Back
Nigeria’s electricity sector has been thrust into the spotlight following the implementation of the NERC CapEx Order, a new directive…