business
Heirs Energies Secures $750m Afreximbank Facility to Double Production and Fast-Track Nigeria’s Energy Sufficiency Goals In a landmark move for Africa’s indigenous energy sector, Heirs Energies Limited has secured a $750 million financing facility from the African Export-Import Bank (Afreximbank) to significantly scale its oil and gas operations. The agreement was finalized during a high-profile […]
FCCPC Issues Stern Warning to Transporters Over ‘Exorbitant’ Fares, Vows to Penalise Operators for Consumer Exploitation Amid Holiday Rush The Federal Competition and Consumer Protection Commission (FCCPC) has issued a high-level warning to interstate transport operators across Nigeria, declaring that while the law allows for price adjustments in a deregulated market, the “systemic exploitation” of […]
Ogun Customs Command Intercepts N2bn Contraband in Two Weeks, Seizes Narcotics and Substandard Food Items in Major Border Crackdown The Ogun Area I Command of the Nigeria Customs Service (NCS) has dealt a massive blow to economic saboteurs, intercepting various contraband goods with a total Duty Paid Value (DPV) of ₦2,006,008,898 in just two weeks of […]
EU Commits to Powering 10 Gombe PHCs and Local Businesses with 300kW Solar Microgrids Under Nigeria Solar for Health Project The European Union (EU) has announced a significant investment in healthcare infrastructure in Gombe State, revealing plans to install solar microgrids with a cumulative capacity exceeding 300 kilowatts (300kW) to provide reliable, 24-hour electricity to […]
Datesstore Nigeria Partners Saudi Arabia for Raw Materials, Seedlings, and Technology to Establish Africa’s Largest Date Processing Hub In a major step toward boosting Nigeria’s agro-processing and non-oil export sector, Datesstore Nigeria Limited has announced a strategic partnership with key stakeholders in Saudi Arabia to establish a robust and sustainable date processing industry within the […]
UNDP, Mastercard Foundation, and NerdzFactory Champion Innovation at Lagos Showcase, Provide Grants to Scale Young African Innovates Solutions A major push to harness youth-led solutions for economic transformation took center stage in Lagos, as the NerdzFactory Company, in partnership with the United Nations Development Programme (UNDP) and the Mastercard Foundation, organized the Innovation State Showcase for […]
Asian Stocks Soar to One-Month High After Federal Reserve’s Rate Cut and Less-Hawkish Outlook Spurs Investor Optimism Asian stock markets closed sharply higher, tracking record gains on Wall Street, as investors continued to react positively to the Federal Reserve’s (Fed) latest decision to cut interest rates. The market rally was driven by the expectation that […]
CBN Mandates Dual Connectivity for PoS Terminals, Sets One-Month Deadline to End Transaction Failures The Central Bank of Nigeria (CBN) has issued a significant directive mandating all key players in the Nigerian payments ecosystem to establish mandatory dual connectivity for Point-of-Sale (PoS) transactions, setting a strict compliance deadline of one month. This move is a […]
Federal Government Slashes Oil Block Signature Bonus to Minimum $3 Million to Attract Investors in 2025 Licensing Round In a bold move to revive investment and participation in the nation’s oil and gas sector, the Federal Government, through the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has drastically reduced the signature bonus required for oil blocks […]
Nigerian Corporate Executive Funmi Ekundayo Elected President of the Global Corporate Secretaries International Association Nigerian governance expert and corporate executive, Funmi Ekundayo, has achieved a major global milestone by emerging as the new President of the Corporate Secretaries International Association (CSIA). The announcement, made over the weekend, elevates Ekundayo to the leadership position of the […]
Federal Government Agency NDPHC Restores 450MW to National Grid Following Major Scheduled Maintenance at Geregu NIPP Plant The Federal Government has achieved a significant boost in the nation’s power generation capacity, announcing the successful restoration of an additional 450 Megawatts (MW) to the national grid. The increase was confirmed by the Niger Delta Power Holding […]
CBN Issues Final Licenses to First Batch of 82 BDCs Under Tougher 2024 Guidelines, Demands N2 Billion Capital for Top Tier In a major step towards sanitizing the retail segment of Nigeria’s turbulent foreign exchange (FX) market, the Central Bank of Nigeria (CBN) announced the issuance of the first batch of final licenses to 82 […]
FG’s Electronic Money Transfer Levy Revenue Hits N360 Billion Total, Doubles Collection Rate After Extension of N50 Charge to Fintech Giants The Federal Government’s policy of expanding the tax net to capture Nigeria’s booming digital economy has yielded a massive financial dividend, with total revenue generated from the Electronic Money Transfer Levy (EMTL) reportedly doubling […]
FCMB Group’s Gross Earnings Soar 40.9% to Record N828.1 Billion in 9M 2025, Fueled by 64.7% Surge in Interest Income FCMB Group Plc has announced a robust financial performance for the first nine months of the year, posting a significant surge in top-line earnings despite a tough macroeconomic environment. According to its unaudited results filed […]
Lagos State Tops Nigeria’s 2025 Ease of Doing Business Ranking with 85.6% Score, Widens Gap Over Kaduna and Oyo The Presidential Enabling Business Environment Council (PEBEC) has officially released its 2025 Subnational Ease of Doing Business (EoDB) Report, confirming that Lagos State has maintained its position as the most competitive business environment in Nigeria. Lagos […]
Netflix Secures Definitive $72 Billion Deal to Acquire Warner Bros. Studio and Streaming Assets, Including HBO Max and DC Comics In a monumental transaction set to redefine the global entertainment landscape, Netflix, Inc. today, Friday, December 5, 2025, announced it has entered into a definitive agreement to acquire the film, television studio, and streaming assets […]
Nigeria-Slovenia Chamber Urges Entrepreneurs to Tap into Central European Market, Citing Slovenia’s EU Membership and Stable Economy The Nigeria-Slovenia Chamber of Commerce has strongly encouraged the Nigerian business community to actively explore the substantial trade and investment opportunities available in Slovenia, describing the Central European nation as a promising frontier for global expansion. The appeal […]
Asian Markets Show Mixed Results as Investors Await Crucial US Inflation Data Set to Finalize Bets on Next Week’s Federal Reserve Rate Cut Asian stock markets traded with mixed results today, Friday, December 5, 2025, as investors struggled for a firm direction ahead of critical economic data from the United States that is expected to […]
Investor Confidence and Strong Harvest Propel Nigeria’s Agro-Sector Output to Record N30.5 Trillion in Q3 2025 Nigeria’s agricultural sector has demonstrated significant resilience and growth, with the latest figures indicating that the sector’s output soared to N30.5 trillion in the Third Quarter (Q3) of 2025. This impressive performance is primarily attributed to a sharp surge in […]
Works Minister Umahi Assures Protesting Contractors, Sets December 20 Deadline for Payment of N4 Trillion Debt Backlog The Federal Government has moved decisively to quell rising tensions among contractors handling critical infrastructure projects, assuring them that all verifiable outstanding payments will be cleared by December 20, 2025. The assurance was delivered by the Minister of […]