Agric sector records 3.15% growth in GDP to 11.87trn
The agricultural sector comprising crop production, livestock, forestry, and fishing recorded a 3.15 per cent, year-on-year growth in real Gross Domestic Product (GDP) to N11.87 trillion in the first quarter of 2026 (Q1’26) from N11.51 trillion in Q1’25.
Unity, Providus Banks merger moves to integration
Unity Bank and Providus Bank have commenced integration process following the recently held Court-Ordered Meeting and subsequent overwhelming endorsement, the merger and business combination between Unity Bank Plc and Providus Bank Limited remain firmly on course.
NIMASA commits to shipyard evelopment, capital flight cuts
By Godwin Oritse The Nigerian Maritime Administration and Safety Agency, NIMASA, has reiterated its commitment to strengthening Nigeria’s shipbuilding and shipyard development as part of efforts to deepen the blue economy and curb capital flight. Speaking at a stakeholders’ breakfast meeting organised by the Agency themed: “Dissecting the Issues, Challenges, and Prospects in the Shipbuilding Segment […]
Dangote signs $400m equipment deal to fast-track refinery expansion
By Bashiru Ayuba Dangote Group has signed a $400 million construction equipment agreement with XCMG Construction Machinery Co., Ltd., one of China’s leading manufacturers of construction machinery, in a move set to accelerate the expansion of the Dangote Petroleum Refinery & Petrochemicals from 650,000 barrels per day to 1.4 million barrels per day, positioning it to […]
Nigeria’s oil output drops 6.3% to 1.627m bpd
•As oil price falls to $67 per barrel By Udeme Akpan, Energy Editor Nigeria’s oil output has declined both year-on-year and month-on-month, falling short of budget and OPEC targets, even as prices remain above the Federal Government’s benchmark. Data from the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, showed that total oil production, including condensate, dropped by […]
Manufacturers, agric sector face up to 60% interest rate
•As credit costs rise in key sectors despite stable deposits rate By Babajide Komolafe Manufacturers and operators in the agricultural sector are facing interest rates of up to 60 per cent, according to latest data on deposit and lending rates released by the Central Bank of Nigeria, CBN. The data, among other things, revealed sharp increases in […]
54% of Nigerian businesses still unregistered despite uptick —SURVEY
By Yinka Kolawole A recent survey has revealed that 54 percent of businesses in Nigeria remained unregistered in 2025 indicating a modest rebound in business formalization after years of decline. The report on the 2025 State of Entrepreneurship Survey conducted by FATE Foundation shows that 46 per cent of Nigerian entrepreneurs operated formally registered businesses in 2025, […]
Banks to pay N10m fine for using unaccredited cheque printer
By Elizabeth Adegbesan The Central Bank of Nigeria, CBN, has slammed a N10 million fine and withdrawal of cheques on commercial banks using unaccredited cheque printers/personaliser. The apex bank disclosed this in its revised sanctions regime on defaulters of the Nigeria Cheque Standard and Nigeria Cheque Printers’ Accreditation Scheme (NICPAS). Among other things, CBN said: […]
Power outage looms amid scheduled power plants maintenance
…Egbin, Azura, Sapele, Transcorp plants affected By Obas Esiedesa Electricity generation across the country is expected to dip temporarily as scheduled maintenance on a major gas facility will curtail supply to several thermal power plants. The Nigerian National Petroleum Company Limited (NNPC Ltd) on Thursday announced that Seplat Energy Plc, a joint venture partner and key supplier […]
Norrenberger unveils Lagos corporate office
Norrenberger has commissioned its Lagos Group Office, strengthening Norrenberger Group’s operational presence in Nigeria’s commercial capital as part of its national growth strategy.
New Tax Law: DisCos request corporate customers for identification details
By Udeme Akpan Electricity Distribution Companies, DisCos, have requested their corporate customers to provide identification details as part of conditions for electricity supply to them, citing the provisions of the new tax regime. Already, the Ikeja Electric Distribution Company (IKEDC) has written its corporate customers to provide these details on or before February 20 to avoid […]
