Nigeria’ll not be Africa’s warehouse, but Africa’s workshop — Tinubu
By Yinka Kolawole President Bola Tinubu has declared that Nigeria will no longer be content with exporting raw materials and importing finished products, saying the country is determined to become Africa’s industrial workshop. Tinubu, who was represented by the Minister of State for Industry, Sen.John Enoh, spoke at the 6th Adeola Odutola lecture and Presidential […]
FG highlights incentives to boost manufacturing under new tax laws
By Yinka Kolawole The federal government, through the Presidential Committee on Fiscal Policy and Tax Reforms, has highlighted some of the incentives in the new tax laws aimed at boosting the manufacturing sector in Nigeria. Speaking at a stakeholders engagement with the Manufacturers Association of Nigeria (MAN) themed, “From Legislative Assembly to Factory Floor: What the […]
Businesses face costly credit as maximum lending rates reach 46%
By Babajide Komolafe Businesses across key sectors of the economy are grappling with prohibitive borrowing costs as maximum lending rates charged by banks rose to as high as 46 per cent. Vanguard analysis of banks’ deposit and lending rates published by the Central Bank of Nigeria (CBN) show that while prime lending rates largely hovered between […]
Nigerians spend $1.73bn on foreign education, health in 6mths
•Represents 19% increase; highest in 4yrs By Babajide Komolafe In spite of the high exchange rate and inflation-induced cost of living crisis across the country, Nigerians increased spending on foreign education and health services by 19 per cent to $1.73 billion in the first half of 2025, H1’25 representing the highest in four years, since 2022. Vanguard […]
EPILEPTIC POWER: Stranded generation capacity hits 2,275MW in 5 years
…As GenCos frown over 33.6% deficiency in evacuation By Mariam Eko Nigeria’s power supply crisis seems to be unabated as stranded electricity generation capacity rose by 1.19 per cent to 2,275 megawatts, MW, over a five-year period, highlighting persistent weaknesses in the country’s transmission infrastructure and worsening liquidity challenges across the power value chain. Operational data […]
Banks report higher loan default rates in Q4’25
By Babajide Komolafe Banks have recorded an increase in loan defaults by households and corporates in the fourth quarter of 2025, reflecting growing repayment pressures on consumers and businesses. “The Central Bank of Nigeria’s (CBN) disclosed this in its Credit Conditions Survey (CCS) Report for Q4 2025, which revealed that lenders experienced higher default rates on […]
