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Business · The Punch ·Customs intercept N403m foreign vegetable oil shipment
The Nigeria Customs Service intercepted a shipment of foreign vegetable oil valued at approximately N403 million. This seizure aligns with the agency's mandate to enforce trade regulations and prevent the illegal importation of restricted goods into the country, aimed at protecting the local agricultural sector and national economy.
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Business · The Punch ·
Peak promotes informed dairy choices for consumers
Peak has launched an initiative to educate consumers on making better dairy selections to improve nutrition. The campaign focuses on providing essential information regarding the benefits of various milk products, ensuring that individuals can select the most appropriate options to meet their specific dietary and health requirements.
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Business · The Punch ·
W’Bank ranks Apapa, Tin Can ports among top performers
The World Bank has ranked Nigeria's Apapa and Tin Can Island ports in Lagos among the top global performers in its latest assessment. This recognition highlights improvements in operational efficiency and maritime logistics at these key trade gateways, reflecting positive developments in the country's shipping and economic infrastructure.
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Business · The Punch ·
Lagos expands homeownership drive with new beneficiaries
The Lagos State Government has expanded its housing initiative by allocating residential units to a new set of beneficiaries. This move aims to increase homeownership rates across the state and address the housing deficit through various schemes designed to provide affordable living spaces for residents.
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Business · The Punch ·
Higher tax collections lift FAAC allocation to N2.26tn
The Federation Account Allocation Committee distributed N2.26 trillion to Nigeria's federal, state, and local governments following a significant increase in tax revenue collections. This growth in revenue facilitated a higher disbursement intended to support government operations and developmental projects across the three tiers of the federation.
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Business · The Punch ·
Nigeria’s crude earnings plunge N1.75tn despite global price rally
Nigeria recorded a N1.75 trillion decline in crude oil earnings despite a general increase in global oil prices. This drop in revenue occurred during a period of international market rallies, indicating that the nation did not benefit from higher crude costs to increase its overall national income.
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Business · The Punch ·
FCCPC and the presidency’s FDI drive
The Federal Competition and Consumer Protection Commission is aligning its regulatory operations with the Nigerian government's strategy to attract foreign direct investment. The agency aims to enhance the business environment by ensuring fair market competition and consumer protection, thereby supporting the presidency's broader economic growth objectives.
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Business · The Punch ·
CBN orders banks to localise payments data
The Central Bank of Nigeria has directed commercial banks to process and store all domestic payment data within the country. This regulatory measure aims to improve data security and enhance oversight of the national financial system while ensuring that sensitive transaction information remains under local jurisdiction and regulatory control.
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Business · The Punch ·
Dangote, AFC sign $600m deal for fertiliser expansion
Dangote Group and the Africa Finance Corporation have signed a $600 million agreement aimed at expanding fertiliser production. This deal is intended to enhance agricultural output and support food security initiatives across the continent by increasing the production capacity of the Dangote fertiliser plant.
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Business · ThisDay ·Minister: FG’s Ibeju-Lekki Housing Project 90% Complete
The Federal Government’s housing project located in Ibeju-Lekki has reached a ninety percent completion stage, according to a government minister. This development marks a significant milestone in the administration's efforts to provide affordable housing units and address the residential needs of citizens within the Lagos region.
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Business · ThisDay ·
Attah: Economic Reforms Must be Measured by Actual Productivity
Attah has stated that the success of economic reforms in Nigeria should be determined by tangible increases in productivity. This perspective emphasizes shifting the focus of national policy evaluation toward real output and economic performance, suggesting a need for measurable results from current government initiatives to ensure meaningful growth.
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Business · ThisDay ·
World Bank Lists Tincan, Apapa Port on Global Top 20 Improved Ports
The World Bank has ranked Nigeria's Tincan and Apapa ports among the top 20 most improved ports globally. This recognition highlights significant advancements in operational efficiency and performance within the country's maritime sector, reflecting positive developments in infrastructure and port management services according to the latest international assessment.
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Business · ThisDay ·
‘Falcon’s 32 Years Signals Stability, Growth in Energy Sector’
Falcon’s thirty-two years of operation within the Nigerian energy sector serves as an indicator of industry stability and growth. The company’s long-standing presence highlights positive trends in the domestic energy market, suggesting a conducive environment for long-term investment and infrastructural development across the country’s power and gas landscapes.
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Business · ThisDay ·
Despite Output Rise, Nigeria Underproduces Crude Oil by 35.3m Barrels in 5 Months
Nigeria recorded a shortfall of 35.3 million barrels in crude oil production over a five-month period, despite an overall increase in output levels. This production deficit indicates that the country is still struggling to meet its allocated targets, notwithstanding recent marginal improvements in the national oil sector performance.
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Business · ThisDay ·
Nigeria’s Oil Industry: More Companies, Fewer Barrels
Nigeria's petroleum sector is currently experiencing a rise in the number of participating companies despite a simultaneous decline in total crude oil production. This trend highlights a disconnect between the growth of corporate entities within the industry and the actual output of barrels, reflecting ongoing challenges in maintaining national production levels.
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Business · ThisDay ·
Rite Foods Expands Sustainability Advocacy, Takes Climate Change Awareness to Lagos Students
Rite Foods has extended its environmental sustainability initiatives by launching a climate change awareness campaign for students in Lagos. The food and beverage company aims to educate younger generations on ecological preservation as part of its broader corporate social responsibility and advocacy efforts within the Nigerian market.
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Business · ThisDay ·
From Celebration to Ambition: Marketsquare Charts the Future
Following recent celebratory events, the Nigerian retail outlet Marketsquare has announced its strategic roadmap for future growth. The company intends to expand its operations and strengthen its presence in the domestic market, focusing on long-term sustainability and improved consumer engagement across various regions of the federation.
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Business · ThisDay ·
Julius Berger Records Strong Growth Ahead 56th AGM
Julius Berger Nigeria Plc has reported significant financial growth as the company prepares for its 56th Annual General Meeting. The construction firm's positive performance indicators suggest a robust outlook for shareholders and stakeholders, highlighting its continued expansion and operational stability within the Nigerian construction sector prior to the upcoming meeting.
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Business · ThisDay ·
CMSA Business Summit Targets Stronger, More Resilient Capital Market
The Capital Market Solicitors’ Association is hosting a business summit focused on building a more robust and adaptable capital market. The event seeks to bring together industry experts to deliberate on frameworks that can improve market stability and investor confidence amidst evolving economic conditions in Nigeria.
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Business · ThisDay ·
Expert: Tegbe Must Ramp Up Completion of Stalled Power Projects
An industry expert has advised Tegbe to prioritize and accelerate the completion of stalled power projects across Nigeria. This initiative aims to improve the national electricity supply and address infrastructure deficits that have hindered industrial growth. The call emphasizes the need for efficient project management to revitalize the energy sector.
Nigerian News
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