Business Archives - Page 5 of 25

TotalEnergies Shareholders Miss Dividend as Fuel Price War Hits Earnings

June 19, 2026

Shareholders of TotalEnergies Marketing Nigeria Plc have been left without dividend payments for the 2025 financial year after the company reported a significant loss, blaming an intense fuel price war and broader market disruptions for the decline in earnings. The company announced a loss after tax of N13.853 billion for the year ended December 31,...

Mutual Benefits Highlights Nigeria’s Credit Gap, Calls for Stronger Financial Protection

June 18, 2026

Mutual Benefits Assurance Plc has raised concerns over the persistent Nigeria credit gap, noting that only about six percent of adults currently have access to credit through formal financial institutions. The company said improving access to finance remains important, but financial protection measures are equally necessary to help individuals and businesses withstand economic shocks. The...

Over 92% of Personal Pension Accounts Remain Unfunded Despite Inclusion Drive

June 18, 2026

Nigeria’s efforts to expand pension coverage among workers in the informal sector continue to face significant challenges, with new data showing that the majority of registered personal pension accounts remain inactive despite years of enrollment campaigns. According to the National Pension Commission (PenCom), the Personal Pension Plan (PPP), established to bring self-employed individuals, artisans, traders,...

EDITORIAL – ENUGU AIR AND THE $30 BILLION QUESTION

June 17, 2026

The recent interview by the Secretary to the Enugu State Government, published by Punch Newspapers under the headline “Enugu Air, Airport Concession Key to $30bn GDP Target”, deserves careful examination. At first glance, the proposition appears attractive: a state-owned airline and an airport concession serving as catalysts for economic transformation. Upon closer scrutiny, however, the...

FG Releases Only N2.68tn from N54.93tn Road Budget in Three Years

June 17, 2026

Despite committing record sums to road infrastructure development, the Federal Government has released only a small fraction of the funds budgeted for road construction, rehabilitation and maintenance projects over the last three years. Data from the Open Treasury Portal show that Federal road budget releases between 2023 and April 2026 amounted to N2.68 trillion, compared...

TCN Raises Alarm Over Rising Transmission Line Vandalism in Niger State

June 16, 2026

The Transmission Company of Nigeria (TCN) has raised fresh concerns over increasing cases of transmission line vandalism in parts of Niger State, warning that the destruction of critical electricity infrastructure is causing significant financial losses, threatening public safety and disrupting power supply. The company said repeated attacks on transmission facilities in the state have become...

VAT and CIT Revenue Drops to N3.79 Trillion Despite Strong VAT Growth in Q1 2026

June 16, 2026

Nigeria’s VAT and CIT revenue fell to N3.79 trillion in the first quarter of 2026, reflecting a year-on-year decline of 6.2 percent despite a significant rise in Value Added Tax collections during the period. The figures were disclosed by the National Bureau of Statistics in its latest report on Value Added Tax (VAT) and Company...

IMF Economic Prescriptions Spark Debate Among Nigerian Experts

June 13, 2026

The latest IMF economic prescriptions for Nigeria have generated mixed reactions among economists and financial experts, with many disagreeing on recommendations relating to taxation, monetary policy, and economic management. However, several analysts endorsed the International Monetary Fund’s concerns over the Federal Government’s proposed $5 billion loan arrangement with First Abu Dhabi Bank of the United...

Cardoso Wins Central Bank of the Year Award in London

June 12, 2026

Cardoso Wins Central Bank recognition after the Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, received the Central Bank of the Year Award at the Central Banking Awards ceremony held recently in London. The award acknowledges the institution’s reform efforts and contributions toward strengthening economic stability in Nigeria. The Central Banking Awards...

Textile Imports Rise 17% to N267.7bn Despite Revival Push

June 12, 2026

The value of textile products imported into Nigeria increased significantly in the first quarter of 2026, as Textile Imports Rise by 17 per cent year-on-year to N267.7 billion. The latest figures highlight the country’s continued dependence on imported textile materials despite ongoing efforts to revive domestic manufacturing. Nigeria’s textile industry was once a major contributor...

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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

TotalEnergies Shareholders Miss Dividend as Fuel Price War Hits Earnings

Mutual Benefits Highlights Nigeria’s Credit Gap, Calls for Stronger Financial Protection

Over 92% of Personal Pension Accounts Remain Unfunded Despite Inclusion Drive

EDITORIAL – ENUGU AIR AND THE $30 BILLION QUESTION

FG Releases Only N2.68tn from N54.93tn Road Budget in Three Years

TCN Raises Alarm Over Rising Transmission Line Vandalism in Niger State

VAT and CIT Revenue Drops to N3.79 Trillion Despite Strong VAT Growth in Q1 2026

IMF Economic Prescriptions Spark Debate Among Nigerian Experts

Cardoso Wins Central Bank of the Year Award in London

Textile Imports Rise 17% to N267.7bn Despite Revival Push

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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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