•Rain Oil leads cuts with N18/litre reduction •Diesel prices crash by up to N70/litre By Udeme Akpan Depot prices of Premium Motor Spirit (PMS), commonly known as petrol, eased across several terminals in Lagos yesterday  as petroleum marketers adjusted prices amid shifting supply dynamics in Nigeria’s downstream oil market. The latest market data showed a […]

By Etop Ekanem Fidson Healthcare Plc has commended the Bank of Industry (BoI) for providing concessionary financing that has supported the growth of pharmaceutical manufacturing in Nigeria. The commendation followed a visit by delegations from the European Investment Bank (EIB) and BoI to Fidson’s manufacturing facility in Sango-Ota, Ogun State. The visit was part of the […]

By Providence Ayanfeoluwa There are indications that Nigeria loses N3.2 trillion annually ($4billion) to transport inefficiencies,  including gridlock, poor modal integration and logistics fragmentation. The Chairman of Global Transport Policy (GTP), Dr. Oluwasegun Musa, said this in his remark at the 2026 Annual GTP conference in Lagos. He said that the country’s logistics cost as a […]

By Peter Egwuatu The Securities and Exchange Commission (SEC) has signed a Memorandum of Understanding (MoU) with Rwanda’s Capital Markets Authority (CMA), aimed at deepening cooperation and accelerating integration of African capital markets. Speaking at the signing ceremony in Abuja, Director-General of SEC, Dr. Emomotimi Agama, stressed the need for greater collaboration among African markets. […]

As Customs seizes 870 smuggled vehicles worth N3.88bn in 15 months By Efe Onodjae Stakeholders in the automobile and maritime sectors have identified delays and high clearing costs as major reasons Nigerian car importers patronise neighbouring countries’ ports and also resort to smuggling. Data from the Nigeria Customs Service (NCS) show that no fewer than 870 […]

By Yinka Kolawole The Federal Government has announced significant progress in the implementation of the Nigeria Industrial Policy (NIP) 2025, recording over $380 million in strategic financing commitments within its first 90 days and advancing key initiatives aimed at boosting local manufacturing, exports, skills development and industrial infrastructure. A 90-day progress report released by the Office […]

By Yinka Kolawole The Nigeria Textile Manufacturers Association (NTMA) has renewed its call for stronger government measures to protect the country’s textile industry from excessive imports, smuggling and unfair foreign competition. Speaking on a programme on the Nigerian Television Authority (NTA), the Director-General of NTMA, Dr. Hamma Ali Kwajaffa, said the association has consistently advocated decisive […]

By Yinka Kolawole Nigeria’s manufacturing sector reinforced its role as a major contributor to government revenue in the first quarter of 2026 (Q1’26), generating N329.59 billion in Value Added Tax (VAT) and N74.48 billion in Company Income Tax (CIT), totalling N404.07 billion. Data obtained from the National Bureau of Statistics (NBS) highlight the sector’s continued importance to […]

By Efe Onodjae Importers and clearing agents have raised concerns over mounting demurrage costs at Nigerian seaports, blaming delays linked to the National Single Window (NSW) platform for prolonged cargo clearance processes. The National President of the National Council of Managing Directors of Licensed Customs Agents, NCMDLCA, Lucky Amiwero, along with other customs agents, alleged that […]

By Rosemary Iwunze Leadway Assurance Company Limited has sustained its support for the growth of Nigeria’s creative industry, and small and medium enterprises (SMEs) with the sponsorship of the largest leather exhibition in Nigeria, the Lagos Leather Fair (LLF), for the fourth consecutive year. The Lagos Leather Fair, now in its ninth edition, is set to […]

By Obas Esiedesa The Nigerian National Petroleum Company Limited (NNPC Ltd.) has renewed its partnership with TotalEnergies to continue the deployment of advanced methane detection technology across its upstream operations for an additional 24 months as part of efforts to reduce greenhouse gas emissions and meet its decarbonisation targets. The agreement extends the use of the […]

By Cynthia Alo The Africa Association of Professional Freight Forwarders and Logistics of Nigeria, APFFLON, has warned that Nigeria may fail to reap the benefits of the African Continental Free Trade Area, AfCFTA, despite the Federal Government’s approval of a proposed $1 billion credit facility aimed at supporting exporters and businesses. The association said that although […]

•As cease fire deal eases supply fears By Yinka Kolawole,  with agency report   Oil prices fell sharply on Thursday, dropping to their lowest levels since the outbreak of the US-Iran conflict, as an interim agreement between the United States and Iran improved prospects for global crude supply. According to Reuters, Brent crude futures declined by $1.53, […]

•Wipes out profit, dividend By Peter Egwuatu TotalEnergies Marketing Nigeria Plc has attributed its decision not to pay a dividend for the financial year ended December 31, 2025, to the severe challenges that confronted the downstream petroleum industry during the year. The company reported a loss after tax of N13.853 billion in 2025, reversing the N27.496 […]

By Elizabeth Adegbesan The  Federal Government (FG) has allocated two additional crude oil export terminals to Swede Control Intertek Limited, one of the country’s pre-shipment inspection agents. The approval was announced in a statement signed by the Director of Trade and Exchange Department at the Central Bank of Nigeria (CBN), Aderinola Shonekan. According to the apex […]