By Obas Esiedesa The completion of the 624-megawatt Abuja Feeding Scheme, designed to significantly boost electricity supply to the Federal Capital Territory (FCT), is being delayed by persistent right-of-way (RoW) challenges, the Transmission Company of Nigeria (TCN) has said. The donor-funded project, which is about 91 per cent completed, is expected to ease power shortages in […]

As Business Confidence drops to 6-month low By Babajide Komolafe Rising taxes and fuel price adjustments slowed the pace of business growth in Nigeria in January 2026, pushing business confidence to a six-month low, according to the latest Business Confidence Monitor (BCM) report released by the Nigerian Economic Summit Group (NESG). The report showed that the Current […]

United Bank for Africa (UBA) has appointed Loknath Mishra as the Chief Executive Officer of its United Kingdom subsidiary, UBA UK, with effect from February 2, 2026. The appointment, according to the bank, underscores UBA Group’s commitment to strengthening its international presence and consolidating its position as a key financial bridge between Africa and global markets. […]

By Folarin Kehinde, Abuja The Federal Government has approved the digitisation of Nigeria’s fish import licensing process as part of efforts to strengthen transparency, regulatory oversight and domestic fish production. The Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, gave the approval and directed the Department of Fisheries and Aquaculture to fast-track the implementation of […]

By Peter Egwuatu  Nigeria’s economic outlook for 2026 shows encouraging signs of stability and renewed business confidence, but  experts at PricewaterhouseCooper, PwC, warned that the gains remain fragile and highly exposed to oil market volatility, foreign exchange pressures and policy-induced shocks.  This was the consensus at the PwC and Businessday Executive Roundtable, on Nigeria’s 2026 Budget […]

By Babajide Komolafe The Central Bank of Nigeria, CBN, has disclosed that payment system downtime and service interruptions increased significantly during the December festive season, popularly known in Lagos as “Detty December,” exposing coordination gaps across Nigeria’s digital payments ecosystem. According to the CBN Fintech Report, insights drawn from surveys of fintech executives, stakeholder workshops and […]

By Obas Esiedesa, Abuja The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has clarified that the Nigeria’s local content policy was not designed to restrict scope of operation of foreign oil companies in the country’s oil and gas sector. Lokpobiri spoke at the pre-conference opening of the 2026 Nigeria International Energy Summit (NIES) in […]

By Cynthia Alo The National Tax Policy Implementation Committee (NTPIC) has continued its stakeholder engagement programme, convening a high-level consultative session with leading tax advisory firms, professional bodies and institutional representatives to support the effective implementation of Nigeria’s newly enacted tax laws. The institutions were represented by their national presidents, while the advisory firms were represented […]

•Urges domestic funding to sustain fintech growth •Says over 60% of fintechs eye regional expansion By Babajide Komolafe, Economy Editor Nigeria’s fintech ecosystem remained Africa’s leading innovation hub in 2024, raising over $520 million in equity funding despite rising global interest rates and tightening financial conditions, the Central Bank of Nigeria (CBN) has disclosed. According to […]

By Yinka Kolawole A new report by Global Financial Integrity (GFI), a United States-based think tank, has revealed that Nigeria lost a total of $77.7 billion to trade-related illicit financial flows (IFFs) over a period of 10 years, between 2013 and 2022. IFFs refer to cross-border movements of money or value that are illegally earned, transferred, or […]

…As 2025 Media Personality winners emerge The President of the Manufacturers Association of Nigeria (MAN), Chief Francis Meshioye, has expressed appreciation for the constant support of the media in its advocacy for the manufacturing sector in the country. Meshioye gave the commendation last week in Lagos at the 10th edition of the MAN Media Personality of […]

The federal government has reaffirmed its commitment to protecting public health by eliminating substandard cosmetics and ensuring that products used in Nigeria meet approved safety standards. Permanent Secretary, Federal Ministry of Health and Social Welfare, Daju Kachollom, stated this at the inauguration of the National Policy on Cosmetics Safety and Health in Abuja. She said the […]

The Coca-Cola Company is set to invest an additional $1 billion in its Nigerian operations, further deepening its footprint in the country and reinforcing long-standing US–Nigeria trade relations. The United States Embassy in Nigeria disclosed this in a social media post highlighting the role of American companies in driving bilateral trade and economic growth between both […]

The Nigeria Employers’ Consultative Association, NECA, has raised alarm over the renewed enforcement by the National Agency for Food and Drug Administration and Control, NAFDAC, of a ban on the production and sale of alcoholic beverages in sachets and small PET bottles, describing the move as a serious regulatory misstep with far-reaching economic and governance consequences. […]

By Udeme Akpan Towards meeting the energy demands of their ongoing expansion projects, three subsidiaries of Dangote Industries Limited, Dangote Petroleum Refinery, Dangote Fertiliser Plant and Dangote Cement Plc have scaled up their Gas Sales and Purchase Agreements (GSPA) with subsidiaries of the Nigerian National Petroleum Company Limited (NNPC Ltd): Nigerian Gas Marketing Limited and NNPC […]