Drug trafficking through ports threatens Nigeria’s trade reputation, economy — Report
By Providence Ayanfeoluwa Nigeria’s growing exposure to drug trafficking through its seaports is posing a serious threat to the country’s international trade reputation, economic competitiveness and investment prospects, the Sea Empowerment & Research Center (SEREC) has warned. In its July 2026 Policy Bulletin released yesterday, SEREC said the persistent use of Nigerian seaports as transit routes […]
SEC commences nationwide campaign to recover unclaimed dividends
By Peter Egwuatu The Securities and Exchange Commission (SEC) has commenced a nationwide enlightenment campaign to help Nigerians recover unclaimed dividends and other monies arising from capital market transactions. The campaign, which began with a town hall meeting in Lagos yesterday, is aimed at sensitising investors on the existence of unclaimed monies, the role of the […]
BoI to channel 70% of EIB facility to drive cocoa, dairy sectors
By Etop Ekanem Nigeria’s foremost development finance institution, Bank of Industry (BoI) has secured a 60 million euro credit facility from the European Investment Bank to fund Nigeria’s cocoa and dairy value addition drive, with a focus on processing, ingredients and chocolate manufacturing. Managing Director/CEO of BoI, Dr. Olasupo Olusi, disclosed this during the Africa Cocoa […]
UOO commends Gov Otti’s transformation of Abia
Speaks on 70th anniversary By Osa Amadi The Chairman of U.O.O Nigeria Plc, Nze Edozie Uche Okafor, has commended the Abia State Governor, Dr. Alex Otti, on the rapid transformation he has brought to the state within a short time. Speaking recently at the 36th Annual General Meeting (AGM) of the company held in Lagos, Edozie […]
External reserves now $52bn, as net reserves exceed $40bn
•Reforms restore investor confidence •Bigger banks will drive growth – Cardoso By Babajide Komolafe Governor of the Central Bank of Nigeria, CBN, Mr. Olayemi Cardoso, yesterday, said Nigeria’s external reserves have risen to about $52 billion, while net external reserves have exceeded $40 billion. He attributed the improvements to reforms that have restored investor confidence and […]
Stock market experts optimistic on H2’26 but warn investors
…Strong performance does not eliminate investment risk – CIS boss …Strong market performance should not lead to policy complacency – Uwaleke …Investors have made more money from the market than any other – Kurfi …Market will continue to rally upwards but… – Amolegbe …Uncertainties over 2027 election remain a possible headwind – Adonri By Peter […]
How Nigeria can overcome hunger — BUA
As BUA Foods posts N518.4 PAT By Emma Ujah, Abuja Bureau Chief The Chairman of BUA Foods Plc, Alh. Abdul Samad Rabiu, has identified heavy investments in agriculture by both the government and private sector operators as a key factor necessary to tackle hunger in the country. He spoke at the 5th Annual General Meeting of […]
Oil price reverses gains, falls 0.8% despite escalating US-Iran hostilities
By Obas Esiedesa, Abuja Global oil prices eased by 0.82 per cent to $84.24 per barrel on Wednesday as investors took profits after the previous day’s sharp rally, although renewed military confrontation and escalating rhetoric between the United States and Iran continued to underpin fears of disruptions to global crude supplies. Brent crude, the international benchmark, […]
Food inflation still rising despite drop in headline rate
By Elizabeth Adegbesan The National Bureau of Statistics, NBS, yesterday said headline inflation rate slowed Month-on-Month (MoM) by 0.02 percentage point to 15.91 percent in June 2026 from 15.93 percent in May. The decline is coming after a three consecutive months rise in headline inflation rate since March 2026. However, despite the moderation in inflation rate, […]
NIP 2025: FG positions small businesses as engine of industrialisation
By Yinka Kolawole The Federal Government has positioned Micro, Small and Medium Enterprises (MSMEs) as the biggest beneficiaries of the Nigeria Industrial Policy (NIP) 2025, with a package of low-cost financing, preferential government procurement, industrial clusters and digital transformation initiatives aimed at accelerating industrial growth and reducing the country’s dependence on imports. The policy, unveiled […]
Manufacturers sell below production cost to offload N2trn unsold inventory
By Yinka Kolawole Manufacturers in Nigeria are increasingly selling products below production cost in a desperate bid to clear nearly N2 trillion worth of unsold inventory, underscoring the severe cost pressures and weak consumer demand confronting the country’s industrial sector. Findings by the Manufacturers Association of Nigeria (MAN) show that while manufacturers have recorded modest improvements […]
