Business

Trade facilitation: Customs unveils digital baggage import declaration

The Nigeria Customs Service, NCS has announced the deployment of a Simplified Baggage Import Declaration System at the Seme Area Command. This marks a new phase in its drive for digital innovation, trade facilitation, and improved passenger clearance processes. The initiative is designed to streamline baggage declaration, reduce clearance time, and enhance transparency for legitimate […]
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12 states have enacted tax harmonisation law — Oyedele

By Yinka Kolawole,  with agency report Not less than 12 states have enacted the tax harmonisation law considered a crucial  part of the broader tax reform agenda introduced by the administration of President Bola Tinubu. Speaking in Abuja yesterday, the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms  and Minister of State for […]

Decline in textile sector persists as GDP contribution falls 3.6% in 2yrs

By Yinka Kolawole Activities in Nigeria’s cotton, textile and garment industry continued to trend downward in 2025, with the industry’s contribution to the nation’s Gross Domestic Product, GDP, declining to N4.384 trillion, reflecting persistent structural challenges confronting the sector. Data from the National Bureau of Statistics (NBS) shows that the sector’s output has recorded a steady […]

Power crisis worsens as generation drops 11% to 2,898 MW

•NISO blames poor gas supply By Mariam Eko The crisis in Nigeria’s power sector worsened yesterday with further decline recorded in power generation.   Data obtained from the Nigerian Independent System Operator, NISO, showed that generation stood at 2,898 megawatts, MW, yesterday, a shortfall of 11 percent from 3,222MW recorded on Monday. The sharp drop forced electricity Distribution […]

Vitafoam shareholders endorse N3.75 bn dividend, bonus shares

Shareholders of Vitafoam Nigeria Plc , have approved a N125 million capital injection through a bonus share issue and endorsed a N3.75 billion dividend payout, signalling strong investor confidence in the company’s improving financial performance.

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