Economy exits contraction but households remain pessimistic — CBN
•As PMI rebounds to 50.1pts •Business confidence moderates to 7.2pts •Households shun houses, cars, investments •Food remains top spending priority By Babajide Komolafe Nigeria’s economy exited contraction in June as the Purchasing Managers’ Index, PMI, rebounded to 50.1 points from 49.6 points in May, driven by sustained expansion in the agriculture sector despite continued weakness […]
Nsibidi Institute to display inaugural festival on Nigerian popular culture
All is now set for Nsibidi Institute to showcase the heritage and social culture of Nigerian popular culture.
How CSCS drives innovation through technology
In an era defined by rapid digital transformation, the Central Securities Clearing System (CSCS) PLC, has emerged as a key driver of innovation within Nigeria’s capital market.
LCFE lists N23.4bn Eko rice contracts
The Lagos Commodities and Futures Exchange (LCFE) has listed Eko Rice Classic Contracts valued at N23.4 billion, marking a major milestone in the transformation of Nigeria’s agricultural and commodities sectors
Excisable goods: MAN cautions FG on introduction of tax stamp
By Yinka Kolawole The Manufacturers Association of Nigeria (MAN) has cautioned the federal government against the possible introduction of tax stamp system for excisable goods in Nigeria, warning of the risks of heavy compliance costs, increased operational bottlenecks, with limited incremental revenue. In a statement yesterday, Director General of MAN, Segun Ajayi-Kadir, said while manufacturers […]
14 banks fully met new capital requirements – CBN
•As CBN reduces interest rate to 27% •External reserve hit $43bn •NECA demands reforms to ease cost of living crisis •CBN’s easing of credit conditions a welcome, timely intervention – CPPE By Emma Ujah, Abuja Bureau Chief, Peter Egwuatu, Victor Ahiuma-Young & Yinka Kolawole ABUJA—Governor of the Central Bank of Nigeria, CBN, Yemi Cardoso, said yesterday […]
FIRS defends FG’s borrowing framework
By Johnbosco Agbakwuru THE Federal Inland Revenue Service, FIRS, yesterday defended the federal government’s borrowing plan, insisting that debt remained a legitimate component of every national budget. It also announcing that Personal Income Tax, PIT, and Company Income Tax, CIT, reforms would take effect from January. FIRS equally said federal revenue collection surged to N3.64 trillion […]
Investors lose N326bn on NGX
The equities market closed on a negative note on Tuesday, as market capitalisation dropped by N326 billion, or 0.4 percent.
Apapa Customs targets 200 containers hourly scan to facilitate trade, cargo clearance
By Godwin Oritse Comptroller Oluwadare Oshoba, Customs Area Controller of the Apapa Port Command, has called on port users and stakeholders to prepare for a more seamless trade process as the Nigerian Customs Service advances its modernisation project with the commencement of fixed scanner installations. With the installation of fixed scanners now underway at Apapa Port, […]
Nigeria’s GDP records 4.23 % growth in Q2’25
•As non-oil sector contributes 95% By Elizabeth Adegbesan The National Bureau of Statistics, NBS, yesterday, said Nigeria recorded 4.23 percent Gross Domestic Product (GDP) growth in the second quarter of 2025 (Q2’25) from 3.13 per cent in first quarter,Q1’25. This represents a 1.1 percentage point quarter-on-quarter (QoQ) increase. In the GDP report for Q2’25, NBS said: “Following the […]
FAAC: NUPRC records N459.6bn revenue shortfall despite 3% rise in monthly remittance
By Obas Esiedesa, Abuja The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reported a revenue shortfall of N459.6 billion against its August 2025 budgetary target of N1.2 trillion, after remitting N745 billion to the Federation Account. In its report to the Federation Accounts Allocation Committee (FAAC) for September 2025, the Commission disclosed that its revenue collection […]
Globacom unveils TalkMasta, Welcome Bonus to enhance subscribers’ experience
The new products are part of Globacom’s commitment to enhancing communication experience and delivering value far beyond customers’ expectations.
African manufacturers seek extension of US trade programme
Manufacturers in some parts of Africa are lobbying the US Congress to grant a last-ditch extension of one to two years to a duty-free trade programme, the African Growth and Opportunities Act (AGOA), which is due to expire at the end of September, Reuters has gathered. US President Donald Trump’s aggressive tariff policies have cast doubt […]
Lafarge launches new plant to boost local manufacturing
Lafarge Africa Plc has officially commissioned the Freedom Plant, a state-of-the-art ReadyMix facility, located in Lekki, Lagos. The facility is equipped with a fully automated batching system that enables seamless remote data transfer and modification, with the capability to manage and operate the plant from any location worldwide via secure internet access. In alignment with Lafarge […]
DIVERSIFICATION: Manufactured goods export up 46.8% to N1.1trn in H1’25
By Yinka Kolawole The move to diversify Nigeria’s export portfolio seems to be yielding results as the value of manufactured goods exported from the country in the first half of 2025 (H1’25) surged by 46.76 percent to N1.1 trillion from N749.5 billion in the corresponding period of the previous year (H1’24). Analysis of reports of Foreign […]
Marching order on food is useless Mr President
By Dele Sobowale “I encourage you to continue speaking truth to power; not only to the government but also to all sectors of society, while also offering constructive solutions that will help us collectively build a nation where integrity, hard work and compassion are the hallmarks of public and private life” – President Bola Tinubu […]
