A refinery and an airline: Nigeria’s bold statement on global business
By Jerome Okolo If Allen Ifechukwu Onyema hadn’t pulled out a nice bottle of Veuve Clicquot Brut Rosé at his home (that’s the actual bottle in the photo) the other…
Category: Business and Economy
Halal Economy: No cause for alarm
By Celestine Mel It is a pity once more, that this intervention seeks to wrestle with a ghost; a long, brooding echo of fear masquerading as civic concern. The essay…
Hot money vs hard investment: Nigeria’s capital flow crossroads
By Nathan Olaníyì Nigeria’s foreign inflows are rising, but most of the money is chasing yields, not building factories or infrastructure. Without patient capital, growth risks becoming fragile. Nigeria’s economy…
Buhari gov’t printed N22.7 trillion, practiced ‘voodoo’ economics – Dogara
Isaac Samuel Former Speaker of the House of Representatives, Yakubu Dogara, has attributed the decline of the value of naira to economic policies of the previous administration, which he said…
Edun, Abbas clash as Nigeria’s debts hit N149.39trn
Isaac Samuel The Minister of Finance Wale Edun and Speaker of the House of Representatives, Abbas Tajudeen, on Monday, clashed over the true state of Nigeria’s debt profile. While Abbas…
Taxation, increased revenues and the limits of fiscal reforms
By ETIM ETIM If any evidence was needed to prove the efficacy of President Tinubu’s fiscal reforms, the latest report from the Ministry of Budget & National Planning would suffice.…
How Tinubu’s Exchange Rate Reforms Turned the Naira into Nigeria’s Export Engine
By Tanimu Yakubu When President Bola Ahmed Tinubu’s administration dismantled Nigeria’s rigid foreign exchange regime in 2024, critics were quick to call it a currency collapse. The naira plunged to…
How to make the Arise Park work
By ETIM ETIM I’m pleased that the ARISE Recreational & Leisure Park will open for business in December, according to Gov. Umo Eno who toured the facility yesterday. The park…
FG: Nigeria Heading toward zero export of crude oil, zero import of refined petrol
The Special Adviser to President Bola Ahmed Tinubu on Economic Affairs, Dr. Tope Fasua, has hinted that Nigeria is heading toward achieving zero export of crude oil and zero import…
Nigeria’s Share of ECOWAS GDP Drops from 53.3% in 2023 to 35.2% in 2024
A report by the ECOWAS Bank for Investment and Development’s (EBID) has shown that Nigeria’s share of West African Gross Domestic Product (GDP), declined from 53.3 per cent to 35.2…
AfCFTA: Nigeria to Have Mutual Recognition Agreement with Two African Countries on Products Quality Assurance
The federal government has disclosed that it would soon achieve a Mutual Recognition Agreement (MRA) with one or two of its major trading partners in Africa that will facilitate acceptance…
BAT Canvasses ESG Principles for Nigeria’s Industrialisation
The British American Tobacco (BAT) Nigeria has called for making Environmental, Social, and Governance (ESG) principles the foundation for Nigeria’s industrial and economic transformation. This call was made recently by…
LCCI Commends FG’s Enactments of Tax Laws
The Lagos Chamber of Commerce & Industry (LCCI) has commended the federal government on the enactments of four tax laws that were signed into law by President Bola Ahmed Tinubu…
MAN Asks Lagos to Reconsider Proposed Ban on Single Use Plastics
The Manufacturers Association of Nigeria (MAN) has called on the Lagos State Government to reconsider the implementation of the ban on single-use plastics (SUPs). The ban is scheduled to take…
NPA targets N1.28 trillion revenue in 2025
Isaac Samuel The Nigerian Ports Authority (NPA) is projecting a massive revenue leap to over N1.27 trillion in 2025, representing a 40 percent increase from the N894.86 billion it realized…
FG Urges ECOWAS to Foster Growth of Private Sector, Free Market Economy
Nigeria’s Foreign Affairs Minister, Mr. Yusuf Maitama Tuggar, has called on the Economic Community of West African States (ECOWAS) to foster the growth of the private sector and the free-market…
PZ Cussons’ Sells 50% Stake in PZ Wilmar for $70m
The PZ Cussons Plc has sold its 50 per cent stake in PZ Wilmar to Wilmar International Limited (Wilmar) for $70 million. The sale, which would enable Wilmar to hold…
Sugar Tax: FG Advised to Target Balanced Fiscal Approach, Not 1200% Increase
The ThinkBusiness Africa has advised the federal government to evolve a balanced approach for Sugar-Sweetened Beverage (SSB) that should prioritise enforcement of existing regulations than focusing on increasing the tax…
LCCI Welcomes Latest Inflation Report
Says it marks a new shift The Lagos Chamber of Commerce and Industry (LCCI) has declared that The chamber said that the latest inflation report marked “a positive, albeit modest,…
NECA Tells FG to Realign its Multiple Reform Policies
The Nigeria Employers’ Consultative Association (NECA) has called on the federal government to realign its reforms policies to avoid hurting the growth of the private sector. The Director General of…
USA Tasks Nigeria on Business-friendly Regulatory Climate to Boost Investments
The United States Ambassador to Nigeria, Mr. Richard M. Mills, has tasked Nigerian government on engendering business friendly regulatory and investment climate to boost investments in line with the United…
NECA Welcomes FG’s Relaunch of National Talent Export Programme
The Nigeria Employers’ Consultative Association (NECA) has commended the federal government for relaunching the National Talent Export Programme (NATEP) with the target of creating one million jobs in five years…
AFC: Africa’s $4trn domestic savings can transform infrastructural development
Africa Finance Corporation (AFC), has revealed that Africa has over $4 trillion of domestic savings in banking assets, institutional funds and reserves. The revelation was contained in the AFC’s 2025…
Nigeria to manufacture plastic automotive components – says NADDC DG
Comfort Isaac The Director general of the Nigerian Automotive Design and Development Council Mr. Oluwemimo Osanipin said Nigeria will soon begin the production of plastic automotive components. Osanipin who disclosed…
Oando Profit-After-Tax Hits N220bn in FY2024, Grew by 267%
Oando PLC posted a robust audited full year (FY) 2024 financial results by growing its revenue by 44 percent to N4.1trillion compared to N2.9 trillion in FY 2023. In the…
DBN Disburses N1trn to MSMEs, Facitates 1.2m Jobs
The Development Bank of Nigeria (DBN) has disbursed over N1 trillion to Micro, Small, and Medium Enterprises (MSMEs) and facilitated the creation of over 1.2 million jobs in the country.…
Two Years of President Tinubu: A Business Perspective
By Abdul Samad Rabiu As Nigeria marks two years under the leadership of President Bola Ahmed Tinubu, I believe it is important to reflect, not from the lens of politics,…
Nigeria sliding into debt slavery under Tinubu, Atiku warns
Isaac Samuel Former Vice President Atiku Abubakar has raised the alarm over Nigeria’s growing debt profile under the administration of President Bola Ahmed Tinubu. Atiku, who was the presidential candidate…
NACCIMA Tasks FG on Unlocking Nigeria’s Untapped Economic Sectors
The National President of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), Mr. Dele Kelvin Oye, has tasked the federal government on overhauling and strengthening Nigeria’s…
MAN Frowns at the Untoward Practices of Commercial Banks Regarding Unmet Forex Forward Obligations
The Manufacturers Association of Nigeria (MAN) has expressed deep concerns regarding the unwholesome treatment of its members by some commercial banks in Nigeria regarding unmet foreign exchange (Forex) forward obligations.…
MAN Expresses Worry over CBN Continued High MPR
The Manufacturers Association of Nigeria (MAN) has expressed deeply felt concern and worry about the continued decision of the Central Bank of Nigeria (CBN) to maintain the Monetary Policy Rate…
FG: Revised National Employment Policy Will Engender Productive, Employment Intensive Growth
The federal government has declared that the revised National Employment Policy (NEP) would create an enabling environment for productive and employment intensive growth in Nigeria. This was made known in…
First Quarter Cadbury profit jumps by 182%
Cadbury Nigeria Plc has announced a profit of N5.98 billion for the first quarter of 2025, following the approval of the unaudited financial statements of the Company by its Board…
Afreximbank Projects Sustained High Cocoa Price in 2025
The African Export Import Bank (Afreximbank) has projected that the price of cocoa in the international commodity market would remain high in 2025. This projection is contained in “Afreximbank Research…
Afreximbank Projects Sustained High Cocoa Price in 2025
The African Export Import Bank (Afreximbank) has projected that the price of cocoa in the international commodity market would remain high in 2025. This projection is contained in “Afreximbank Research…
Report: Power Supply, High Cost of Commercial Leases are Key Challenges to Business Expansion
The NESG-Stanbic IBTC Business Confidence Monitor (BCM) for the month of April 2025 has identified power shortages, high commercial lease and limited access to finance as major challenges to business…
ESG Report: MTN Nigeria Targets 2040 for Zero Emission, Achieves 11% Emission Reduction in 2024
The MTN Nigeria has declared its commitment “to protecting our planet by achieving net zero emissions by 2040,” adding that it attained 11 per cent reduction in fuel consumption in…
MAN: FG’s “Nigeria First” Procurement Policy Directive Will Boost GDP by 56%, Reduce unemployment by 37%
The Manufacturers Association of Nigeria (MAN) has commended the Federal Government of Nigeria’s new public procurement policy directive that emphasised patronage of Made-in-Nigeria goods and services. MAN also said that…
Agribusiness: Experts Call for Unlocking Capital Market for Sustainable Long Term Funding
Financial experts and stakeholders in the Nigerian agribusiness value chain have called for financial products that would attract long term funding from the capital market for the Nigerian agricultural value…
PMI Report: Productivity Declined Marginally as Business Activity Maintain Positive Momentum
…Says Naira depreciation, higher energy costs driving inflation The productivity of the Nigerian private sector dropped marginally by -0.1 in April 2025 although business activity maintained its positive momentum into…
MAN Decries Re-introducing 4% Free-on-Board Levy, Warns Against De-industrialisation
The Manufacturers Association of Nigeria (MAN) has decried the reported plans by the Nigeria Customs Service (NCS) to re-introduce the 4.0 per cent Free-on-Board Levy (FOB). It said that such…
Lafarge Africa Celebrates Remarkable 2024 Financial Performance
Lafarge Africa Plc, a manufacturer of a range of cement brands, held its 66th Annual General Meeting (AGM) in Lagos on Friday. The AGM, attended by shareholders, board members, and…
FG to Establish Textile Development Board, Approves $90bn Agribusiness, Livestock’s Development Plan
The National Economic Council (NEC) has approved the establishment of a Cotton, Textile and Garment Development Board (CTGDB) to regulate activities in the sector. The CTGDB would be domiciled in…
World Bank appoints Aliko Dangote to Elite Group
…Tasks him to drive Investment and job creations in emerging economies The President and Chief Executive of the Dangote Group, Aliko Dangote, has been appointed to the World Bank’s Private…
LCCI: Drastic action needed to reduce Nigeria’s value, cost of public borrowing
The Lagos Chamber of Commerce and Industry (LCCI) has called for drastic actions to reduce Nigeria’s value and cost of public borrowing. The LCCI stated these yesterday in a public…
IMF Warns Countries to Guard Against Rising Public Debts
The IMF has sounded a warning to all countries over the surging public debts. This warning was issued on Wednesday by the Director, IMF Fiscal Affairs Department, Mr. Victor Gaspar.…
Africa: IMF Fears Reversal of Strong Policy Actions
The International Monetary Fund (IMF) has expressed fear that the strong policy actions that have been taken by governments in Africa to bring down inflation, stabilize public debt, and reduce…
Expert: Trump Wants to Dismantle WTO
A Professor of Economics and former Member of the Monetary Policy Committee of the Central Bank of Nigeria, Professor Mike Idi Obadan, has stated that the current tariff war, which…
Report: Manufacturing Investment Fell by 35. Percent in 2024
The Manufacturers Association of Nigeria (MAN) in its “MAN Economic Review Second Half 2024,” has said that real manufacturing investment fell by 35.3 percent year-on-year to N658.81 billion in 2024.…
CPPE Kicks Against RMRDC’s Bill on 30% Processing of Local Raw Materials Before Export
The Centre for the Promotion of Private Enterprise (CPPE) has kicked against the Raw Materials Research and Development Council (RMRDC) Bill currently before the National Assembly, which proposed that no…