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Economic experts have called on the Federal Government to adopt a deliberate and coordinated strategy to de-risk Nigeria’s business environment and introduce long-term investment incentives to maintain the country’s current GDP growth trajectory. This position was articulated at the Lagos Chamber of Commerce and Industry (LCCI) 2025 Mid-Year Economic Review held in Lagos. Gabriel Idahosa, ...
…Drive fiscal transparency The Federal Inland Revenue Service (FIRS) and the Office of the Accountant-General of the Federation (OAGF) have announced a coordinated effort to tighten tax compliance across Ministries, Departments, and Agencies (MDAs), in a bid to overhaul Nigeria’s public sector revenue system and improve fiscal transparency. The joint initiative, unveiled during a two-day ...
By Franca Ochigbo, Chairman of First HoldCo Plc, Femi Otedola, says he will soon unveil key insights from his business journey, aimed at inspiring the next generation of Nigerian entrepreneurs. The billionaire businessman made the announcement in a post shared on his verified X account on Wednesday, noting the significant evolution of Nigeria’s business environment ...
By Titus Atondu, Makurdi The Group Managing Director and Chief Executive Officer of the Benue Investment and Property Company (BIPC), Dr Asemakaha Amaabai, has disclosed that the agency has directly employed 580 individuals and facilitated 3,008 indirect jobs in under two years through its revitalised business ventures. Speaking during an engagement with journalists in Makurdi, ...
By Olakunle Oke As Nigeria’s downstream oil and gas industry contends with global market disruptions, key players have credited the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) with spearheading reforms that have fostered competition, improved supply, and enhanced consumer outcomes. The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) attributed these gains to ...
...As CPPE commends inflation slowdown, flags worrying price pressures, policy gaps By Seun Ibiyemi Nigeria’s headline inflation rate dipped to 22.22 per cent in June 2025, according to the latest Consumer Price Index (CPI) and Inflation Report released by the National Bureau of Statistics (NBS) in Abuja on Wednesday. The figure represents a decline of ...
...As Agusto & Co upgrades OICL credit rating to Aa- By Grateful Oluseun Ogunjebe Wemabod Limited has officially commenced the redevelopment of its historic Awolowo House in Ikeja, Lagos, transforming the landmark property into a cutting-edge commercial facility named the Awolowo Tech Mall. The groundbreaking ceremony, held on Wednesday, July 16, 2025, brought together ...
The Corporate Affairs Commission (CAC) has issued a warning to Nigerians to avoid conducting business with three companies found to be operating with fake registration documents and forged incorporation numbers. In an official notice, the CAC revealed that the affected firms SPEF Cooperative Society Ltd, UPIL Staff Cooperative Society Ltd, and PREM Staff Cooperative Society ...
By Seun Ibiyemi The Nigerian National Petroleum Company Limited (NNPC Ltd.) has signed a $3.5 billion Memorandum of Understanding (MoU) with the Akwa Ibom State Government and the Gas Aggregation Company of Nigeria (GACN), marking a major step towards accelerating gas-based industrial development in the South-South region. The signing took place during the opening session ...
President and Chief Executive of Dangote Industries Limited, Aliko Dangote, has called on Nigeria’s affluent citizens to prioritise domestic investment, asserting that true national development is impossible without it, regardless of corruption challenges. Speaking to journalists, Dangote stressed that channelling wealth into the Nigerian economy is the only sustainable way to secure the country’s future ...
The Securities and Exchange Commission (SEC) has commenced investigations into 79 suspected Ponzi schemes across Nigeria, warning that those found culpable will face stringent legal action under the Investment and Securities Act (ISA). In a statement issued on Tuesday in Abuja, the Commission disclosed that among those under scrutiny is a firm known as FF ...
By Seun Ibiyemi President Bola Ahmed Tinubu has directed relevant federal agencies to take decisive steps in response to the recent visa policy changes by the United States and the United Arab Emirates affecting Nigerian citizens. This directive was disclosed in a statement issued on Tuesday in Abuja by Mr Bayo Onanuga, Special Adviser to ...
The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has credited the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) with fostering stability, innovation, energy access, and sustained growth in the petroleum downstream sector through strategic and consistent regulatory guidance. According to DAPPMAN, the Authority’s “firm, fair and functional” oversight has boosted operational efficiency, ...
…Cites PIA success in attracting $16bn investments By Seun Ibiyemi The House of Representatives has restated its firm determination to put an end to crude oil theft, a persistent threat that is draining approximately $79.4 million from Nigeria’s economy each day. Deputy Speaker, Hon. Benjamin Okezie Kalu, made this known on Monday in Abuja at ...
By Seun Ibiyemi The Nigerian Aviation Handling Company Plc. (NAHCO) Export Packaging and Processing Centre (NEPPC) has received firm backing from the Nigeria Customs Service (NCS) in its mission to transform the country’s commodity export landscape. This assurance was given by the Controller-General of Customs, Mr Adewale Adeniyi, during a recent inspection of the NEPPC ...
Data usage in Nigeria surged to an all-time high of 1.04 million terabytes in May 2025, even as internet subscriptions across networks declined, according to the latest industry figures released by the Nigerian Communications Commission (NCC). The May figure marks the highest monthly data consumption since January 2023, when the telecom regulator began publishing monthly ...
By Seun Ibiyemi The Chief Executive Officer of Aero Contractors, Captain Ado Sanusi, has criticised the Federal Government’s approval of a $300 helicopter landing fee, warning that it could open the door to arbitrary charges across the aviation sector. Speaking to journalists on Sunday in Lagos, Sanusi described the charge as unjustified and cautioned that ...
The Nigeria-Morocco Gas Pipeline project has recorded substantial progress, with recent Technical and Steering Committee meetings held in Rabat to assess developments and align future steps in line with previously signed Memoranda of Understanding among participating national oil companies. The sessions, convened by Morocco’s National Office of Hydrocarbons and Mines (ONHYM) on 10–11 July, brought ...
The Federal Airports Authority of Nigeria (FAAN) has confirmed the reopening of the runway at the Port Harcourt International Airport following a runway excursion involving Air Peace flight P47190 on Sunday morning. The aircraft, which was en route from Lagos, veered slightly off the runway after landing at the airport. No damage was recorded in ...
Heirs Insurance Group (HIG), Nigeria’s fastest-growing insurance group, has announced its audited financial results for the year ended 31 December 2024, recording substantial year-on-year growth across all business segments and financial metrics. The Group posted a combined Gross Written Premium (GWP) of ₦61 billion for its life and general insurance operations, marking a 70% increase ...
By Seun Ibiyemi Barely three years after restricted usage, Nigerian banks have reinstated the ability for citizens to use naira-denominated debit cards for international transactions. A policy shift that signals renewed confidence in the nation’s foreign exchange market and a pivotal moment for the country’s digital economy. Recall that Nigerian banks last week resumed international ...
By Seun Ibiyemi The Presidency has dismissed reports suggesting that Nigeria has suspended the issuance of five-year multiple-entry visas to United States citizens, reaffirming its adherence to existing bilateral agreements and the principle of diplomatic reciprocity. In a statement issued on Thursday in Abuja, Presidential Spokesperson Mr Bayo Onanuga described the reports as “false and ...
The Securities and Exchange Commission (SEC) has called on stakeholders to take full advantage of the newly enacted Investments and Securities Act, 2025 (ISA 2025), as part of efforts to deepen Nigeria’s capital market and stimulate broader economic development. Dr Emomotimi Agama, Director-General of the SEC, made this appeal during a stakeholder forum held on ...
