Naira Ends Week at N1,417.95/$ as Nigeria’s External Reserves Rally
The naira closed the week on a positive note, trading at N1,417.95 per dollar in Nigeria’s official foreign exchange market,…
Category: Business
New Tax Laws Set to Boost SMEs’ Growth in Nigeria
Nigeria’s recently enacted tax laws are expected to provide a major boost for small and medium-sized enterprises (SMEs), experts say,…
NGX Market Capitalization Hits N217.7 Trillion Amid Strong Equities and ETF Growth
The Nigerian Exchange (NGX) recorded a remarkable surge in total market capitalization, closing mid-January 2026 at N217.749 trillion. This represents…
European Markets Slide Amid Trump’s Greenland Tariff Threat: Autos and Luxury Stocks Hit Hard
European markets tumbled on Monday as investors reacted to U.S. President Donald Trump’s controversial threat to impose tariffs on several…
Nigerian Stock Market Surges N2.6 Trillion as Positive Momentum Continues in 2026
The Nigerian stock market continued its strong performance in the second week of 2026, adding N2.6 trillion to its total…
SEC’s New Capital Rules Raise Concerns Among Portfolio Managers: Market Recapitalisation in Focus
Nigeria’s Securities and Exchange Commission (SEC) has unveiled its most significant overhaul of capital requirements in a decade, sparking anxiety…
Champion Breweries Raises N42bn to Acquire Bullet Brands, Expands into Energy Drinks Market
Champion Breweries Plc has announced plans to raise N42 billion through a public offer of ordinary shares to fund its…
Elon Musk Demands $134 Billion from OpenAI Ahead of Trial Over $500B Valuation
Elon Musk is turning up the heat on OpenAI, demanding between $79 billion and $134 billion in damages as his…
Dangote Group to Build World’s Largest Single-Site Refinery with $350 Million Expansion
Nigeria’s Dangote Group has taken a major step toward transforming the country into a regional petroleum powerhouse by awarding a…
Nigeria’s US Crude Oil Imports Surge to 42 Million Barrels in 10 Months
Nigeria’s crude oil imports from the United States soared to over 42 million barrels in the first ten months of…
Petrol Imports Still Dominate Nigeria’s Fuel Market Despite Rising Domestic Refining in 2025
In 2025, petrol imports continued to dominate Nigeria’s fuel market, accounting for 62.47% of total Premium Motor Spirit (PMS) consumption,…
Conference explores role of cash in digital-first economy
The Committee of Heads of Bank Operations (CHBO) in Nigeria is set to host its annual conference on Friday, 23…
Global Markets Face Volatility as US–Europe Trade Tensions Resurface Over Tariff Threats
Global financial markets are bracing for renewed volatility following fresh trade tensions between the United States and Europe, after President…
SEC Revises AUM Capital Requirement to 0.1% After Industry Pushback
The Securities and Exchange Commission (SEC) has clarified that fund and portfolio managers will now be required to hold 0.1%…
EU removes Nigeria, five African countries from high-risk financial list
The European Union (EU) has officially removed Nigeria and five other African countries from its list of high-risk jurisdictions for…
Nigeria’s Capital Market at Risk of Overregulation
Nigeria is entering a phase of overregulation that risks undermining the capital market it seeks to strengthen. The Securities and…
Nigeria’s Crude Oil Production Drops to 1.42 Million BPD in December 2025
Nigeria’s crude oil production slipped to 1.422 million barrels per day (bpd) in December 2025, down from 1.436 million bpd…
Nigeria Spends N1.7 Trillion on Petrol as Daily Consumption Hits 63.7 Million Litres
Nigeria’s daily petrol consumption surged to a record 63.7 million litres in December 2025, driving total expenditure on Premium Motor…
NRS Clarifies: No New VAT on Banking Services Under Nigeria Tax Act
The Nigeria Revenue Service (NRS) has dismissed circulating reports suggesting that the new Nigeria Tax Act introduced Value Added Tax…
LIRS Sets January 31 Deadline for 2025 Tax Returns: Employers Urged to File Early
The Lagos State Internal Revenue Service (LIRS) has reminded employers across the state that January 31, 2026, is the final…
NGX, DEG Drive Net-Zero Transition to Unlock $3 Billion in Climate Funding for Nigerian Corporates
The Nigerian Exchange Group (NGX Group), in partnership with Germany’s development finance institution DEG and Africa Foresight Group, has launched…
NRS: VAT on bank charges NOT introduced by new tax laws
The Nigeria Revenue Service (NRS) says value-added tax (VAT) on bank services charges was not introduced by the new tax…
FG Explains N152 Trillion Public Debt, Says Rise Not Due to New Borrowing
The Federal Government has clarified that Nigeria’s public debt, which now stands at N152 trillion, is largely due to improved…
BREAKING: SEC raises capital requirements for brokers, fund managers, digital firms
Nigeria’s Securities and Exchange Commission (SEC) has unveiled a major overhaul of capital requirements for capital market operators, affecting brokers,…
Nigeria Imports 1.3 Billion Litres of Petrol Despite Growing Local Refining
Nigeria imported approximately 1.31 billion litres of petrol in December 2025, even as local refining capacity increased, according to the…
20 Nigerian Banks Meet Recapitalisation Deadline as CBN Pushes for Productive Lending
About 20 deposit money banks in Nigeria have met the Central Bank of Nigeria’s (CBN) new capital requirements under the…
US Market Rally Set to Broaden Beyond Tech as Investors Rotate Into New Sectors
The long-running US stock market rally, powered largely by technology giants, may be entering a new phase as investors increasingly…
Nigeria–China Crude Oil Trade Poised for Growth as Venezuela Supplies Slump
Nigeria’s crude oil trade with China is expected to expand following a sharp decline in Venezuela’s oil exports to the…
Nigeria’s Inflation Rises to 15.15% in December 2025 as Food Prices Ease
Nigeria’s headline inflation rate climbed to 15.15 per cent in December 2025, according to the latest Consumer Price Index (CPI)…
Dangote Refinery Ensures Fuel Price Stability as Expansion Plan Targets 1.4 Million Barrels Daily
Dangote Refinery has hit a major milestone, producing 50 million litres of Premium Motor Spirit (PMS) daily, supported by a…