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The Director and Chief Executive Officer of the Centre for the Promotion of Private Enterprise (CPPE), Dr. Muda Yusuf, has called for urgent reforms in trade facilitation across West and Central Africa to address persistent challenges that continue to undermine the competitiveness of regional economies and hinder the effective implementation of the African Continental Free ...
Business Direct
Ecobank Transnational Incorporated (ETI) has reported a strong financial performance for the third quarter (Q3) of 2025, with profit before tax (PBT) rising by 47 per cent year-on-year to ₦394.6 billion. According to the bank’s unaudited financial statement for the period ended September 30, 2025, profit after tax (PAT) also grew by 48 per cent ...
Business Direct
...call for urgent policy actions to cut energy costs The Manufacturers Association of Nigeria (MAN) has projected a brighter economic outlook for 2026, forecasting a stronger naira, lower inflation, improved access to credit, and a 4 per cent Gross Domestic Product (GDP) growth. The Director of Research and Economic Policy Division at MAN, Dr. Oluwasegun ...
News
Investors in the Nigerian equities market lost N91 billion at the close of trading on Tuesday following declines in the share prices of MC Nichols, Lasaco Assurance, and John Holt Plc, among others. The benchmark All-Share Index (ASI) dipped to 155,353.2 points from 155,496.15 points recorded the previous day, while the equity capitalization decreased to ...
Money market
HabariPay Limited, the fintech subsidiary of Guaranty Trust Holding Company (GTCO), has reported a profit before tax (PBT) of ₦4.02 billion for the first half of 2025, representing a 95 per cent surge from the ₦2.07 billion recorded in the corresponding period of 2024. The figure, disclosed in GTCO’s half-year financial statement for the period ...
Capital Market
...as debt burden jumps to ₦41,766 per citizen Despite persistent fiscal tightening and increased earnings, Nigeria's sub-national governments are intensifying their debt burden, despite ongoing efforts at fiscal tightening. Fresh data from BudgIT’s State of States 2024 report reveals a worrying upward trend, placing a significantly heavier financial liability on the average citizen. The report, titled ...
Maritime and Blue Economy
...warn of setback to Nigeria’s Blue Economy vision Stakeholders in the Maritime industry have cautioned that the federal government’s failure to adequately invest in coastal communities poses a major threat to Nigeria’s Blue Economy aspirations and could worsen poverty among indigenous populations. Speaking at the 3rd Ehingbeti Blue Economy Hub in Lagos, Major General Tajudeen ...
Maritime and Blue Economy
...as FG faults Peter Obi’s claim on Port neglect Despite Nigeria's status as West Africa’s largest economy and a critical regional trade hub, no Nigerian port has secured a spot in the Lloyd’s List Top 100 Container Ports Ranking for 2025. This persistent exclusion highlights the deep-rooted infrastructure and operational deficiencies plaguing the nation's maritime sector. ...
Money market
Transnational Corporation Plc (Transcorp Group), one of Africa’s leading listed conglomerates, has reported a strong performance for the third quarter of 2025, driven by growth across its power and hospitality businesses. According to the company’s unaudited financial results released on Monday, revenue rose by 39 per cent year-on-year to ₦413.4 billion, compared to ₦297.7 billion ...
Capital Market
The Federal Government of Nigeria, through the Debt Management Office (DMO), has announced the listing of ₦260 billion worth of Federal Government bonds for subscription at its October 2025 auction. In a circular posted on its official X handle on Monday, the DMO disclosed that the offer opened on October 27, 2025 comprises two re-openings: ...
Energy
The Federal Government has constituted a committee to address the payment of N4 trillion outstanding debts owed to Power Generation Companies (GenCos) and to establish sustainable payment mechanisms to prevent future accumulation. The Permanent Secretary, Ministry of Power, Mr Mahmuda Mamman disclosed this on Monday in Abuja at the 10th Anniversary celebration of the Association ...
News
Guaranty Trust Holding Company Plc (GTCO) has released its audited consolidated financial statements for the half-year ended June 30, 2025, revealing solid underlying business growth despite a headline 40 percent decline in Profit Before Tax (PBT). The Group reported a PBT of ₦600.9 billion. This figure reflects the strength of its recurring income streams in ...
Business Direct
The Centre for the Promotion of Private Enterprise (CPPE) has said that reducing Nigeria’s reliance on imports will strengthen the country’s economic foundation and shield it from global market shocks. This was contained in a policy brief titled “Nigeria First Policy,” released by CPPE’s Chief Executive Officer, Dr. Muda Yusuf. The brief described the Nigeria ...
Business Direct
...as assets surge to $40bn under Oramah The African Export-Import Bank (Afreximbank) has transitioned leadership following a decade of transformative growth under outgoing President Professor Benedict Oramah, who has been credited with steering the Bank into a $40 billion continental powerhouse. Speaking at a farewell conference for Prof. Oramah, Executive Vice-President Dr. George Elombi now ...
Money market
Automated Teller Machine (ATM) transactions in Nigeria rose sharply in the first quarter of 2025, defying expectations that new cash withdrawal charges introduced by the Central Bank of Nigeria (CBN) in February would slow usage. According to the CBN’s Quarterly Statistical Bulletin for Q1 2025, total ATM withdrawals climbed to N15.97 trillion between January and ...
Capital Market
Investors in the Nigerian equities market gained a massive N4.2 trillion in the just-ended trading week, as the market recorded gains in all five trading sessions, a rare perfect week of bullish momentum. The equity market capitalisation surged to N98.7 trillion, while the All-Share Index (ASI) appreciated by 4.48 per cent, closing the week at ...
Capital Market
Investors in the Nigerian equities market enjoyed a significant windfall, recording a massive gain of ₦479 billion at the close of trading on Thursday. The market's strong performance was largely fueled by exceptional gains in bellwether stocks, particularly PZ Cussons Nigeria Plc, alongside momentum from firms like The Initiates Place Plc and Aso Savings & ...
Money market
The House of Representatives has taken fresh steps to boost transparency and public trust in Nigeria’s financial system as part of efforts to drive economic stability and business growth. To achieve this, the House Committee on Banking Regulations on Thursday held a public hearing on two key bills designed to reform the nation’s financial and ...
Business Direct
…Urges stronger regulatory framework and investment to boost CNG adoption The Lagos Chamber of Commerce and Industry (LCCI ) has called for decisive and coordinated policy measures to consolidate Nigeria’s economic recovery and reinforce macroeconomic stability amid evolving global conditions. The President of LCCI, Mr. Gabriel Idahosa, made the call on Thursday in Lagos during ...
Business Direct
...seeks CILT collaboration to achieve paperless ports, end corruption The Minister of Marine and Blue Economy, Adegboyega Oyetola, has disclosed that the Federal Government has commenced the procurement process for the modernization of seaports outside Lagos, as part of efforts to ensure balanced development across the nation’s maritime gateways. Oyetola stated this on Wednesday at ...
