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Business · Vanguard ·10 things to expect after UAE exits OPEC
Following the departure of the United Arab Emirates from the Organization of the Petroleum Exporting Countries, several shifts in global oil markets are anticipated. These include changes in production quotas, price volatility, and altered geopolitical relations among major energy-producing nations. The exit marks a significant transition for the international oil industry and its regulatory frameworks.
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Business · PM News ·Subsidy removal not a Windfall – FG
The Federal Government stated that the savings generated from the removal of fuel subsidies do not represent an unexpected financial windfall. Officials explained that the policy is intended to stabilize the national economy and manage fiscal resources more effectively rather than providing a large surplus of extra funds.
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Business · Premium Times ·Re: Emir Sanusi: Africa, Nigeria is not over borrowed but under-financed, By ‘Tope Fasua
Economist Tope Fasua examines perspectives attributed to Emir Sanusi concerning the financial status of Nigeria and the African continent. The discourse suggests that these regions face a deficit in adequate financing rather than an unsustainable debt burden. The analysis focuses on macroeconomic structures and the necessity for increased capital inflow to drive development.
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Business · PM News ·
Nigeria’s Mining Boom: Revenue jumps to ₦68bn in one year
Nigeria's mining sector recorded a significant increase in revenue, reaching ₦68 billion within a single year. This growth highlights the expanding performance of the solid minerals industry as the country seeks to diversify its economic base away from oil dependency and improve national fiscal earnings.
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Business · Leadership News ·
Private Sector Growth Slips As PMI Contracts To 49.4
Nigerian private sector growth has experienced a decline as the Purchasing Managers' Index dropped to 49.4. This contraction indicates a reduction in business activities across the country, marking a shift from previous growth trends. Economic indicators suggest that various sectors are facing challenges that have slowed down overall industrial and commercial performance.
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Business · Leadership News ·
Mining Sector Revenue Hits N68bn
Nigeria's mining sector has generated a total revenue of N68 billion, reflecting the industry's growing contribution to the national economy. This development follows ongoing government efforts to diversify revenue streams and enhance the regulatory framework within the solid minerals sector to drive sustainable financial growth.
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Business · The Punch ·Osun court summons CBN over police N100.1m judgment debt
An Osun State High Court has summoned the Central Bank of Nigeria regarding a N100.1 million judgment debt owed by the Nigeria Police Force. The legal directive follows a court ruling against the police, requiring the apex bank to provide information or facilitate the settlement of the outstanding financial obligation.
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Business · The Punch ·
Edo miners, NSCDC disagree over harassment, extortion claim
Miners in Edo State have raised allegations of harassment and extortion against the Nigeria Security and Civil Defence Corps. The security agency has dismissed these claims, leading to a public disagreement between the two groups. The dispute highlights ongoing tensions regarding the regulation and oversight of mining activities within the region.
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Business · Nairametrics ·
CAC denies manipulation of DAAR Communications records after cyber attack
The Corporate Affairs Commission has dismissed allegations of record manipulation concerning DAAR Communications after a cyber attack. The agency maintains that its database remained secure and that no unauthorized alterations were made to the company's filing information, countering claims that the digital breach led to the tampering of official records.
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Business · Premium Times ·Finding Nigeria’s missing link between growth and development, By Dipo Baruwa
Dipo Baruwa examines the discrepancy between Nigeria's economic growth figures and its actual developmental outcomes. The analysis explores why statistical increases in the gross domestic product often fail to improve the living conditions of citizens, highlighting the need for systemic changes to bridge this persistent gap in the national economy.
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Business · ThisDay ·
NCAN Leadership Crisis Deepens as Adesokan Claims Legitimacy Amid Policy Rift
The leadership dispute within the National Cashew Association of Nigeria has intensified as Adesokan asserts legal authority over the organization. This power struggle coincides with significant policy disagreements among members, further destabilizing the association's governance and complicating its strategic direction amidst ongoing internal friction regarding legitimate representation.
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Business · Leadership News ·
Foreign Currency Tax Revenues Jump 27% To N6.33trn
Nigeria's foreign currency tax revenues increased by 27 percent to reach N6.33 trillion. This growth reflects a significant rise in tax collection from foreign exchange-denominated sources, providing a boost to the government's fiscal accounts and indicating shifts in the national revenue generation landscape.
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Business · ThisDay ·
Amid Tax Law Overhaul, CITN Tasks New Members on Stronger Fiscal Reform Compliance
The Chartered Institute of Taxation of Nigeria has urged its newly inducted members to prioritize adherence to fiscal reform measures amid the ongoing overhaul of national tax laws. This initiative seeks to enhance tax compliance and support the government's efforts to modernize the country's fiscal framework through professional oversight and expertise.
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Business · ThisDay ·
ACCI Unveils Agro Expo to Drive Mechanisation, Boost Export Competitiveness
The Abuja Chamber of Commerce and Industry has launched an agricultural exposition aimed at enhancing mechanization within the sector. This initiative seeks to improve the global competitiveness of Nigerian exports by showcasing modern farming technologies and facilitating strategic partnerships among stakeholders to strengthen the country's agricultural value chain.
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Business · Leadership News ·
Single Window Failing Without Synergy With NPA, Customs, Expert Warns
An expert has warned that the implementation of Nigeria's Single Window initiative may fail without effective collaboration between the Nigerian Ports Authority and the Nigeria Customs Service. The lack of synergy between these key maritime agencies is reportedly undermining the efficiency and goals of the trade facilitation project.
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Business · Leadership News ·
Dangote Cement Powers Global Sustainability Innovation At A4S Competition
Dangote Cement has supported global sustainability initiatives through its involvement in the A4S competition. The company continues to promote innovation and environmental responsibility within the manufacturing sector, reinforcing its commitment to sustainable business practices and long-term ecological impact in Nigeria and across the international community.
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Business · BusinessDay ·Meet Rabiu Umar, nominee for NMDPRA chief executive
President Bola Tinubu has nominated Rabiu Umar to serve as the chief executive officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority. Umar is expected to lead the agency responsible for overseeing operations within the country's petroleum sector, pending formal confirmation by the Nigerian Senate.
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Business · BusinessDay ·‘Real estate market is beginning to question what it is being sold’
Stakeholders within the Nigerian real estate sector are increasingly scrutinizing property offerings and market claims. This trend indicates a growing demand for transparency and value verification among investors and prospective homeowners, as the industry faces heightened skepticism regarding the quality and legitimacy of current developmental projects.
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Business · Leadership News ·
NGX Recommits to Sustainable Markets Through Infrastructure, Innovation
The Nigerian Exchange Group is prioritizing market sustainability through enhanced infrastructure and technological innovation. The exchange aims to strengthen the national capital market by integrating modern solutions that support long-term economic stability and provide efficient trading platforms for investors within the Nigerian financial sector.
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Business · Premium Times ·Oando awaits regulatory approvals for proposed N220.8 billion rights issue
Oando is currently seeking necessary regulatory clearances for its planned N220.8 billion rights issue. The energy firm intends to use the capital raising exercise to strengthen its financial position and support ongoing operations, pending the final decision from the relevant Nigerian capital market authorities.
Nigerian News
Headlines from across Nigeria, summarised and updated continuously. Tap any headline to read the full story on the source site.