Business Archives - Page 8 of 25

NESG raises fresh concern over Nigeria debt burden outlook

May 12, 2026

The Nigerian Economic Summit Group, NESG, has raised fresh concerns over the Nigeria debt burden, warning that the country’s fiscal position remains under pressure despite signs of short-term stabilisation. In its latest Debt Burden Monitor for May 2026, the economic think tank stated that Nigeria debt burden continues to reflect elevated fiscal strain driven by...

Nigerian manufacturers face rising manufacturing debt burden of N1.96trn in 2025

May 11, 2026

Nigeria’s top manufacturing companies recorded a combined manufacturing debt burden of N1.96 trillion in 2025, according to analysis of audited financial statements of leading Fast-Moving Consumer Goods, FMCG, firms. The data highlights increasing financial pressure on manufacturers operating in a challenging macroeconomic environment marked by inflation, foreign exchange volatility, and rising borrowing costs. The manufacturing...

FG moves to clear Apapa, Tin Can port corridor congestion in Lagos

May 11, 2026

The Federal Government has commenced renewed efforts on port corridor clearance along the Apapa and Tin Can Island axis in Lagos as part of ongoing measures to ease persistent traffic congestion affecting Nigeria’s busiest maritime gateways. The initiative targets improved movement of cargo, reduction of delays, and enhanced efficiency across port access roads. The port...

Nigeria oil firms sustain crude output export despite refinery demand

May 11, 2026

Nigeria’s oil producing companies continued crude output export operations despite rising domestic refining demand from local refineries, including the Dangote Refinery and rehabilitated state-owned plants. Industry data showed that about 80 per cent of Nigeria’s crude production was exported in recent months even as policymakers push for increased local supply to strengthen domestic refining capacity....

Investors boost banking industrial stocks as market rally extends

May 11, 2026

Investor interest in banking industrial stocks continued to strengthen on the Nigerian Exchange Limited, NGX, as market rally extended into another trading session driven by sustained buying pressure across key sectors. Trading activities on the exchange reflected growing confidence in equities linked to banking, industrial goods, and oil-related companies amid expectations of stronger corporate earnings...

Access Holdings dividend clarification follows strong 2025 earnings performance

May 7, 2026

The Access Holdings dividend decision has been clarified by the financial group following investor concerns over the absence of payouts despite strong 2025 earnings performance. The company explained that the dividend suspension was not linked to weak financial results but to pending regulatory approvals required for distribution. The clarification was made during its 2025 full-year...

Rice price rise of 50kg local rice to N112,000 drives inflation pressure

May 7, 2026

The Rice price rise in Nigeria has intensified after the National Bureau of Statistics (NBS) reported that the average price of a 50kg bag of local rice increased by 20.5 per cent to N112,000 in March 2026. The latest data shows continued pressure on staple food costs across the country, reflecting broader inflation trends in...

Nestoil banks dividend dispute raises questions over liability claims

May 6, 2026

The banks dividend dispute involving Nestoil Limited and several Nigerian financial institutions has escalated after the company rejected claims linking it to banks’ inability to pay dividends. Nestoil said it bears no responsibility for the issue and described the narrative as misleading and inaccurate. The company issued its response following reports connecting its financial exposure...

Customs trade facilitation drives South-East growth, boosts business access

May 6, 2026

The Customs trade facilitation drive under the Nigeria Customs Service has reshaped business operations in Nigeria’s South-East, with reforms targeting reduced costs and improved access to markets. Comptroller-General Bashir Adewale Adeniyi has implemented policies that decentralise cargo clearance and remove long-standing logistics barriers. The reforms have enabled faster cargo movement and reduced reliance on distant...

FG contractors debts settlement plan targets transparency, economic stability

May 6, 2026

The Federal Government has initiated a contractors debts settlement process aimed at resolving outstanding obligations owed to indigenous contractors across Nigeria. The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the process would be transparent and structured. He made the assurance during a meeting with the All-Indigenous Contractors Association of Nigeria...

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2027: Nigerians Question Whether Their Votes Will Count

September 12, 2026

As Nigeria prepares for the 2027 general elections, concerns over the credibility of the electoral process have resurfaced, with stakeholders divided over whether voters’ choices will be fully protected and reflected in the final results. The debate followed the inauguration of the All Progressives Movement, APM, presidential campaign office in Ibadan, where Oyo State Governor...

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...

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2027: Nigerians Question Whether Their Votes Will Count

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

Latest News

NESG raises fresh concern over Nigeria debt burden outlook

Nigerian manufacturers face rising manufacturing debt burden of N1.96trn in 2025

FG moves to clear Apapa, Tin Can port corridor congestion in Lagos

Nigeria oil firms sustain crude output export despite refinery demand

Investors boost banking industrial stocks as market rally extends

Access Holdings dividend clarification follows strong 2025 earnings performance

Rice price rise of 50kg local rice to N112,000 drives inflation pressure

Nestoil banks dividend dispute raises questions over liability claims

Customs trade facilitation drives South-East growth, boosts business access

FG contractors debts settlement plan targets transparency, economic stability

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2027: Nigerians Question Whether Their Votes Will Count

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

Reps Probe N432bn Oil Revenue Debt Owed to NMDPRA

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