The Naira yesterday appreciated to N1,393 per dollar in the parallel market from N1,405 per dollar on Monday.

By Babajide Komolafe Fresh concerns have emerged over Nigeria’s debt burden with the outlook for 2026 indicating new borrowings at about N29 trillion. Giving its verdict on the debt situation, the Nigerian Economic Summit Group (NESG), Nigeria’s foremost economic think-tank, in the May 2026 edition of its Debt Burden Monitor released yesterday, said that debt pressure […]

The Presidential Enabling Business Environment Council, PEBEC, has announced plans to commence a two-day clean-up and enforcement exercise along the Lagos port corridors as part of efforts to improve trade facilitation and enhance efficiency at the nation’s seaports. The operation, scheduled for May 14 and 15, 2026, will be carried out through PEBEC’s Ports and Customs […]

By Yinka Kolawole Analysis of the audited 2025 full-year financial statements of top ten Fast-Moving Consumer Goods, FMCG, companies in Nigeria has revealed that the firms incurred a combined debt burden of about N1.963 trillion, underscoring the mounting pressure facing operators in the consumer goods sector amid soaring inflation, rising interest rates and foreign exchange volatility. […]

By Obas Esiedesa Oil companies in Nigeria exported about 80 percent of the country’s crude oil production in the first quarter of 2026 despite rising demand from domestic refineries. Latest data released by the Nigerian Upstream Petroleum Regulatory Commission showed that out of the 139.93 million barrels of crude oil produced in the first three […]

By Peter Egwuatu   The Nigerian stock market closed at the weekend on a bullish note as investors gained about N1.1 trillion Week-on-Week, W-o-W, driven largely by renewed buying interest in banking and industrial stocks. Data from the Nigerian Exchange Limited, NGX, showed that the market capitalisation, which represents total value of stocks listed on the Exchange […]

Against the backdrop of rising costs of living and declining purchasing power, brewing companies have recorded sharp rise in revenues.

By Emma Ujah,  Abuja Bureau Chief The Nigeria Customs Service Trade Modernisation Project will enhance ease of doing business, boost trade facilitation, revenue generation and raise the bar of national security. The Comptroller-General (CG) of Customs, Mr. Adewale Adeniyi, said this at the workshop for Journalists on the Nigeria Customs Service Trade Modernisation Project, in Abuja […]

By Patrick Chidubem  Moniepoint Microfinance Bank (Moniepoint MFB) has stated its resolve to maintain leading position in Nigeria’s agency banking space, positioning its track record and distinctive service model as a game-changer for the sector. The company also noted its commitment to deepen value creation across the entire ecosystem. Beyond service provision, the bank is positioning […]

…As profit rises 117% to N317.2 bn •Our performance was led by  Heineken beer – Nigerian Breweries •We take beer to ease frustration, stress – Consumers •It’s habit driven – Analysts •Helped by product re-pricing – Egbomeade By Peter Egwuatu Against the backdrop of rising costs of living and declining purchasing power, brewing companies have recorded sharp […]

By Yinka Kolawole The Manufacturers Association of Nigeria (MAN) has called on the Lagos State Government to simplify its tax structure to support industrial growth, reduce business bottlenecks and attract fresh investments into the manufacturing sector. Chairman of MAN Apapa Branch, Raphael Danilola, made the appeal during the association’s annual business luncheon held in Lagos with […]

Nigeria’s maritime sector recorded strong growth in the first quarter of 2026, as the Nigerian Ports Authority, NPA, posted a 19.5 per cent increase in vessel tonnage to 46.75 million Gross Registered Tonnage, GRT, while cargo throughput rose to 32.38 million metric tons. 

By Godwin Oritse A group of concerned licensed customs agents and maritime stakeholders under the aegis of the Association of Nigeria Licensed Customs Agents (ANLCA) has petitioned the Inspector-General of Police over alleged interference of the Marine Police in port operations. Specifically, they accused the Police unit of blocking and extorting importers of duly cleared cargoes […]

By Udeme Akpan, Energy Editor & Ediri Ejor Crude oil prices including Nigeria’s Bonny Light has dropped significantly to $98 per barrel amid growing speculation that the US-Iran war — a major factor driving the current market instability — may soon come to an end. But contrary to expectations pump prices in Nigeria remained high […]

FirstHoldCo Plc delivered a masterclass performance in its first-quarter 2026 financials, recording a 100 year-on-year profit before tax (PBT) growth. Profit before tax (PBT) jumped to -321.12 billion from -186.48 billion in the corresponding period of 2025, supported by steady interest-earning capacity and robust fee income generation. The first quarter of 2026 marked a definitive […]