Withdrawal of COVID-19 Forbearance pushes banks’ bad loans above CBN limit
By Elizabeth Adegbesan The withdrawal of the Central Bank of Nigeria’s (CBN) COVID-19 regulatory forbearance given to banks has pushed banks’ Non-Performing Loans (NPLs) ratio to 9.94 per cent in the first quarter of 2026 (Q1’26), significantly above the apex bank’s prudential benchmark of 5.0 per cent. The development was disclosed in the CBN’s first quarter […]
Ecobank Nigeria announces tender offer for outstanding 2026 senior eurobond
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 kick as Senate mulls duty hike on sugar products
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 […]
Manufacturing sector tops VAT contribution at 26.6% in H1’25
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 […]
Foreign Direct Investment loses ground despite surge in inflows
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.
Dangote Refinery, others cut petrol gantry price to N840 per litre
—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 […]
