Business Archives - Page 14 of 20

Nigeria’s Telecom Market Expands as Subscribers Hit 179.6m

February 4, 2026

Total telecommunications subscriptions in Nigeria rose to 179.6 million by the end of January 2026, while teledensity (the number of active connections per 100 inhabitants) increased to 82.9 per cent, the Nigerian Communications Commission (NCC) said in its latest data release. The figures, contained in the NCC’s January 2026 Subscriber/Network Data report, show growth in...

Right‑of‑Way Bottlenecks Stall 624MW Abuja Power Scheme, TCN Says

February 4, 2026

The Transmission Company of Nigeria (TCN) has said right‑of‑way (RoW) bottlenecks are delaying progress on the 624-megawatt (MW) Abuja power transmission scheme, affecting the project’s implementation timeline, TCN officials confirmed. TCN said the project, designed to enhance network reliability and power evacuation capacity in Abuja and adjoining areas, has been impacted by challenges securing RoW...

UBA Group Appoints Loknath Mishra as Chief Executive Officer of UBA UK

February 4, 2026

United Bank for Africa (UBA) Group has appointed Loknath Mishra as the Chief Executive Officer of UBA UK, the bank said in a statement confirming the leadership change effective February 2, 2026. The appointment reflects the group’s ongoing focus on enhancing its international operations and financial services capabilities in the United Kingdom. In the announcement,...

Businesses Feel the Heat as Taxes and Fuel Costs Stall January Growth – NESG

February 4, 2026

Business growth in Nigeria slowed in January 2026, according to the latest Business Confidence Monitor (BCM) report by the Nigerian Economic Summit Group (NESG), which identified rising taxes and fuel price adjustments as key factors affecting commercial activity during the month. The BCM report, produced jointly by NESG and Stanbic IBTC, showed that overall business...

Businesses Buckle Under Debt as Defaults Push Bad Loans to ₦21.2tn

February 2, 2026

Nigerian banks are recording a significant increase in non-performing loans (NPLs) as defaults by businesses intensify, driving the total bad loans portfolio of the top eleven banks to ₦21.2 trillion by the end of the third quarter of 2025, financial data show. The surge reflects mounting financial stress among corporate borrowers amid tightening economic conditions....

FG Sets Target to Raise Manufacturing Share of GDP to 20–25% by 2030

February 2, 2026

The Federal Government has set an ambitious goal to increase the manufacturing sector’s contribution to Nigeria’s Gross Domestic Product (GDP) to between 20 per cent and 25 per cent by 2030, authorities said, as part of the imminent Nigerian Industrial Policy aimed at revitalising industrial growth. The announcement was made in Abuja on February 2,...

Dangote and NNPC Seal Strategic Gas Agreements to Support Expansion Projects

February 2, 2026

Dangote Industries Limited and the Nigerian National Petroleum Company Limited (NNPC Ltd) have finalised strategic gas supply agreements to support energy needs for the conglomerate’s major expansion projects, the parties said at a signing ceremony held alongside the launch of the NNPC Gas Master Plan (NGMP) 2026 in Abuja. Under the revised Gas Sales and...

Coca-Cola Pledges Additional $1bn Investment to Deepen Nigerian Operations

February 2, 2026

The Coca-Cola Company has announced plans to invest an additional $1 billion in its Nigerian operations, reinforcing its long-term commitment to the country’s economy, the United States Embassy in Nigeria said in a social media post on February 2, 2026. The investment is expected to deepen industrial footprint and support local workforce and infrastructure development....

NEF Criticises Gold Refinery Siting Amid Federal Government Clarifications

February 2, 2026

The Northern Elders Forum (NEF) has criticised the decision to locate a gold refinery in Lagos State, describing the move as a departure from equitable federal resource distribution and a source of discord, according to the forum’s statement signed by Professor Abubakar Jika Jiddere. NEF’s reaction comes amid clarifications from the Federal Ministry of Solid...

Over N200bn Lost as Onitsha Market Reopens After Deal Between Traders and Soludo

February 1, 2026

Onitsha Main Market has reopened after the Anambra State Government and market leadership reached an agreement to end the temporary closure imposed last week, following significant economic losses estimated at more than N200 billion over six days, authorities and traders said. The development marks a pause in one of the region’s most disruptive commercial shutdowns...

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ISWAP Commander Killed as Troops Eliminate 50 Terrorists in North-East

June 3, 2026

An ISWAP commander killed during ongoing military operations in Nigeria’s North-East was among at least 50 terrorists neutralised by troops of Operation Hadin Kai, according to military authorities. The operation, which targeted Islamic State West Africa Province (ISWAP) fighters and other insurgents, was carried out as part of intensified efforts to dismantle terrorist networks operating...

Enugu Teachers Besiege Government House, Demand Release of Abducted Oyo Pupils

June 2, 2026

Teachers in Enugu State on Tuesday joined a nationwide solidarity rally organised by the Nigeria Union of Teachers (NUT), marching to the Government House in Enugu to demand the immediate release of abducted Oyo pupils and their teachers. The demonstration followed a directive from the national leadership of the union after the abduction of dozens...

Oyo Lawmakers Defection Deepens as Six Reps Dump PDP for APM

June 2, 2026

The Oyo lawmakers defection trend gained momentum on Tuesday as six members of the House of Representatives from Oyo State formally left the Peoples Democratic Party (PDP) for the Allied Peoples Movement (APM). The lawmakers announced their departure during plenary at the House of Representatives, citing the prolonged internal crisis and leadership disputes within the...

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ISWAP Commander Killed as Troops Eliminate 50 Terrorists in North-East

Enugu Teachers Besiege Government House, Demand Release of Abducted Oyo Pupils

Oyo Lawmakers Defection Deepens as Six Reps Dump PDP for APM

Tinubu Re-Election Project Is My Number One Priority, Oborevwori Declares

Latest News

Nigeria’s Telecom Market Expands as Subscribers Hit 179.6m

Right‑of‑Way Bottlenecks Stall 624MW Abuja Power Scheme, TCN Says

UBA Group Appoints Loknath Mishra as Chief Executive Officer of UBA UK

Businesses Feel the Heat as Taxes and Fuel Costs Stall January Growth – NESG

Businesses Buckle Under Debt as Defaults Push Bad Loans to ₦21.2tn

FG Sets Target to Raise Manufacturing Share of GDP to 20–25% by 2030

Dangote and NNPC Seal Strategic Gas Agreements to Support Expansion Projects

Coca-Cola Pledges Additional $1bn Investment to Deepen Nigerian Operations

NEF Criticises Gold Refinery Siting Amid Federal Government Clarifications

Over N200bn Lost as Onitsha Market Reopens After Deal Between Traders and Soludo

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ISWAP Commander Killed as Troops Eliminate 50 Terrorists in North-East

Enugu Teachers Besiege Government House, Demand Release of Abducted Oyo Pupils

Oyo Lawmakers Defection Deepens as Six Reps Dump PDP for APM

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