Business Archives - Page 2 of 25

24 Companies Control 74.8% of Nigerian Stock Market Value

August 18, 2026

Nigeria’s equities market has recorded a sharp rise in value in 2026, but the gains remain heavily concentrated among a relatively small group of companies. As of August 17, 24 companies accounted for 74.8 per cent of the total market capitalisation of the Nigerian Exchange Limited (NGX). The companies, drawn mainly from the banking, consumer...

Nigeria-China Trade Hits $18bn as Aquatic Exports Gain Zero Tariff Access

August 17, 2026

Nigeria’s bilateral trade with China has climbed to $18 billion in the first half of 2026, as Nigerian aquatic products secure zero-tariff access to the Chinese market. The new arrangement is expected to expand Nigeria’s export opportunities and increase foreign exchange earnings by opening access to a market of about 1.4 billion consumers. The development...

Tax Ombud to Launch Taxpayer Bill of Rights, Obligations Soon

August 17, 2026

The Office of the Tax Ombud has announced plans to introduce a Taxpayer Bill of Rights and Obligations within the coming weeks. The initiative is designed to improve taxpayers’ understanding of their rights and responsibilities while promoting fairness in Nigeria’s tax administration. Tax Ombud and Chief Executive Officer of the Office of the Tax Ombud,...

Importers Count Demurrage Losses Over Empty Container Delays

August 12, 2026

Importers operating through the Apapa and Tin Can Island ports are facing rising demurrage and detention costs amid persistent difficulties in returning empty containers, the Africa Association of Professional Freight Forwarders and Logistics of Nigeria (APFFLON) has said. The association said the delays were creating additional financial pressure for importers, freight forwarders and transport operators,...

Nigeria’s Capital Importation Surges 256.9% to $2.82bn — CBN

August 12, 2026

Nigeria recorded a sharp increase in capital importation in April 2026, with total inflows rising by 256.9 per cent year-on-year to $2.82 billion, according to the Central Bank of Nigeria, CBN. The figure represents a significant increase from the $0.79 billion recorded in April 2025, suggesting stronger investor confidence in the Nigerian economy despite a...

New Tax Law Fails to End Multiple Taxation Burden, MAN Says

August 10, 2026

The Manufacturers Association of Nigeria, MAN, says manufacturers are still struggling with multiple taxes and levies despite the introduction of the Nigeria Tax Act 2025. The association said the multiple taxation burden remained evident during the second quarter of 2026, with manufacturers continuing to encounter different tax collectors and regulatory agencies. The disclosure was contained...

Nigeria FDI Inflows Rise 148% as Africa Records 26% Decline

August 10, 2026

Nigeria recorded a sharp rebound in foreign direct investment in 2025, emerging as one of Africa’s strongest performers despite a significant decline in investment across the continent. The country’s Nigeria FDI inflows increased by 148 per cent, rising from $1.61 billion in 2024 to $4.01 billion in 2025, according to the United Nations Trade and...

Nigeria OPEC Output Unchanged as OPEC+ Raises Production by 188,000 bpd

August 3, 2026

Nigeria will maintain its current crude oil production strategy after seven members of the OPEC+ alliance agreed to raise their combined oil output by 188,000 barrels per day (bpd) beginning in September 2026. The latest production adjustment is expected to support stability in the global oil market without affecting Nigeria’s existing production plans. The decision...

Customs Releases Trucks After CGC Intervention at Lagos Bonded Terminal

July 24, 2026

The Customs releases trucks operation has brought relief to dozens of transport operators after the Nigeria Customs Service (NCS) freed 36 trucks impounded during an investigation into alleged trade infractions at Zarmmak Bonded Terminal in the Amuwo Odofin area of Lagos. The trucks, owned by members of the Association of Maritime Truck Owners (AMATO), had...

Engineers Advocate Stronger Engineering Cost Control for Better Project Delivery

July 24, 2026

Engineering professionals have urged public and private sector stakeholders to adopt stronger engineering cost control measures to improve project execution, eliminate waste and ensure better value for infrastructure investments across Nigeria. The call was made by members of the Institute of Appraisers and Cost Engineers (IACE) during the institute’s 2026 National Technical Conference held in...

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2027: Obi Supporters to Track Votes From Polling Units to Abuja, Says Yesufu

September 11, 2026

Political activist and Nigeria Democratic Congress member, Aisha Yesufu, has said supporters of the party’s presidential candidate, Peter Obi, will take direct steps to protect their votes in the 2027 presidential election. Yesufu said the supporters would deploy representatives to polling units and monitor election materials and results throughout the collation process. She said the...

Reps Probe N432bn Oil Revenue Debt Owed to NMDPRA

September 10, 2026

The House of Representatives Public Accounts Committee, PAC, has commenced an investigation into outstanding oil revenue debt owed to the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, by the Nigerian National Petroleum Company Limited, NNPCL, and oil companies. The liabilities under investigation have been put at N432.07 billion. The probe followed findings contained in...

Reps Probe N432bn Oil Revenue Debt Owed to NMDPRA

September 9, 2026

The House of Representatives Public Accounts Committee, PAC, has commenced an investigation into an oil revenue debt of N432.07 billion owed to the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, by the Nigerian National Petroleum Company Limited, NNPCL, and oil companies. The investigation followed findings contained in the Auditor-General’s annual audit reports, which identified...

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2027: Obi Supporters to Track Votes From Polling Units to Abuja, Says Yesufu

Reps Probe N432bn Oil Revenue Debt Owed to NMDPRA

Reps Probe N432bn Oil Revenue Debt Owed to NMDPRA

INEC schedules five by-elections across four states for Sept 19

Latest News

24 Companies Control 74.8% of Nigerian Stock Market Value

Nigeria-China Trade Hits $18bn as Aquatic Exports Gain Zero Tariff Access

Tax Ombud to Launch Taxpayer Bill of Rights, Obligations Soon

Importers Count Demurrage Losses Over Empty Container Delays

Nigeria’s Capital Importation Surges 256.9% to $2.82bn — CBN

New Tax Law Fails to End Multiple Taxation Burden, MAN Says

Nigeria FDI Inflows Rise 148% as Africa Records 26% Decline

Nigeria OPEC Output Unchanged as OPEC+ Raises Production by 188,000 bpd

Customs Releases Trucks After CGC Intervention at Lagos Bonded Terminal

Engineers Advocate Stronger Engineering Cost Control for Better Project Delivery

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2027: Obi Supporters to Track Votes From Polling Units to Abuja, Says Yesufu

Reps Probe N432bn Oil Revenue Debt Owed to NMDPRA

Reps Probe N432bn Oil Revenue Debt Owed to NMDPRA

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