By Babajide Komolafe The Central Bank of Nigeria, CBN, yesterday, said that the Composite Purchasing Managers’ Index, PMI, rose  to 56.4 points in November, marking the twelfth consecutive month of expansion in economic activity. According to the PMI report for November released by the apex bank on Monday 29 out of 36 subsectors surveyed expanded during […]

First City Monument Bank (FCMB) has been named Nigeria’s ‘Best SME focused Bank’ for 2025 by the Chartered Institute of Bankers of Nigeria (CIBN). This recognition comes as FCMB holds a leading 24% share of the banking industry’s ¦ 1.8 trillion total SME disbursement for 2024. The award was presented at the 60th Annual Bankers Dinner […]

By Obas Esiedesa, Abuja The Federal Government, yesterday, unveiled 50 oil and gas blocks for bidding, targeting about $10 billion in fresh investments and an additional 400,000 barrels per day in national production. In the long term, the government hopes to deliver 10 billion barrels of oil over the next decade. Announcing the bid round in […]

•As non-oil sector contributes 96% By Elizabeth Adegbesan Nigeria has recorded growth  at 3.98% in its Gross Domestic Year-on-Year (YoY). It went up significantly to 4.23% in the second quarter of 2025 (Q2’25) and now reversing to 3.98% in Q3’25. On Quarter-on-Quarter (Q-o-Q) reversal in economic growth rate, the National Bureau of Statistics, NBS, yesterday, put […]

By Peter Egwuatu  The Federal Government, PwC Nigeria and other stakeholders have emphasised the need for collaboration among regulators and operators in order to improve the supply of power in the country. This was agreed during the discussions with stakeholders and industry leaders at PwC Nigeria’s15th Annual Power and Utilities Roundtable. The forum, themed “Nigeria’s multi-tier […]

By Babajide Komolafe Ecobank Nigeria Limited has announced the launch of a tender offer for its outstanding U.S.$300 million, 7.125% Senior Note Participation Notes due 2026. The bank in a statement said: “As at the date of this announcement, $150 million of the Notes remain outstanding. “The proposed offer commenced on Friday, 28 November 2025, and […]

Manufacturers under the aegis of the Manufacturers Association of Nigeria (MAN) have kicked against a proposal to increase excise duty on carbonated sugar-sweetened beverages (SSB) through amendment of extant law. Stakeholders expressed divergent views at a public hearing jointly organised by the Senate Committees on Finance and Customs on the proposed amendment to the Customs and Excise […]

By Yinka Kolawole   The manufacturing sector remained the top-contributing sector to Nigeria’s Value-added Tax (VAT) collections in the first half of 2025 (H1’25), with a contribution of N584.63 billion, representing 26.6 percent of the total local VAT collections of N2.197 trillion within the period, thus reaffirming the sector’s critical role in the country’s economic development. Analysis of the latest data […]

Against the backdrop of the declaration by the Federal Government that Nigeria’s economy has turned the corner to stability and recovery, going by some macroeconomic indicators, current trend in foreign investments inflow has indicated that foreign investors are yet to buy into the position.

—As OPEC+ nations reaffirm commitment to oil market stability By Udeme Akpan, Energy Editor The Dangote Petroleum Refinery and other major depot operators have reduced the average gantry price of Premium Motor Spirit, PMS, to N840 per litre, down from N843 per litre. The price adjustment follows a decline in global crude oil prices, as […]