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The Nigerian stock market experienced a significant boost, gaining N1.52 trillion in a single day. This surge has pushed the total market capitalisation above N161 trillion, reflecting strong investor confidence.
Lagos State has launched a N10bn MSME financing scheme to support cooperative businesses. The initiative involves 19 accelerators providing low-interest, non-collateral loans.
Nigeria’s tax reforms aim to end reliance on borrowing, building a sustainable fiscal system for economic growth, infrastructure, and social protection.
Nigeria's asset management sector is poised for significant consolidation following new regulations from the SEC. Firms are actively preparing for this transition to adapt to the evolving landscape.
The Nigerian Ports Authority reports significant growth in the maritime sector for Q1 2026, attributed to ongoing port reforms and infrastructure upgrades. Rising export activity further supports this positive trend in trade.
Twenty companies listed on the Nigerian Exchange Limited reported a combined revenue of N6.61 trillion in the first quarter. This growth is attributed to improved macroeconomic indicators in the country.
Nigeria's foreign exchange market saw a significant increase in trading activity, with turnover reaching $8.51 billion. This surge is expected to enhance banking liquidity due to N1.06 trillion in maturities this week.
Nigeria has once again failed to meet its OPEC oil production quota, averaging 1.49 million barrels per day in April. This shortfall is attributed to issues like crude theft, vandalism, and underinvestment in the sector.
President Trump is contemplating a fuel tax cut in response to rising oil prices and inflation driven by the Iran conflict. This move aims to alleviate cost-of-living pressures for Americans.
Nigerian power generation companies are calling for the government to take action against firms stealing electricity from the grid. They demand the identification, arrest, and prosecution of these offenders to protect the power sector.
Four major Nigerian banks have published details of over 321,000 dormant bank accounts following a CBN directive, raising privacy and economic concerns.
President Bola Tinubu announced that Nigeria plans to allocate $11.6 billion for debt servicing in 2026. He also expressed concern over Africa's low 2% share in global manufacturing value addition.
President Bola Tinubu has highlighted the opportunities within Nigeria's blue economy to attract global investors during his visit to Kenya. This initiative aims to enhance economic growth and investment in Nigeria's maritime resources.
President Tinubu praises the recent France-Nigeria business council meeting, highlighting that the partnership is now in the execution phase. This development is expected to boost jobs and economic growth in Nigeria.
Nigeria's crude oil production is reported at 1.49 million barrels per day, which contradicts the Federal Government's claim of 1.84 million. This discrepancy raises concerns about the accuracy of the government's reporting on oil output.
Petrol consumption in Nigeria increased by 10.78% in April, reaching 52.4 million litres despite a price hike. This rise comes as crude imports have significantly dropped by 95%.
President Bola Tinubu and other African leaders are advocating for a new economic order during the France-Africa summit in Kenya. The discussions aim to enhance collaboration among nations for sustainable development.
Stakeholders in Nigeria are advocating for a unified tax framework to enhance economic growth. This initiative is part of ongoing fiscal reforms aimed at strengthening the country's financial landscape.
British International Investment has partnered with Ecobank DRC to provide $30 million in financing for SMEs. This collaboration aims to boost economic growth and support small businesses in the region.
Nigeria's Finance Minister emphasizes the need to stop relying on borrowing for development. Instead, he advocates for tax reforms to create a sustainable fiscal system.
Oyedele said that the current tax regime had simplified tax payment, reduced the number of taxes and exempted low-income earners from payment of Personal Income Tax. The post New Tax Acts not just about raising revenue – Oyedele appeared first on Vanguard News.
Vice President Kashim Shettima supports the Federal Government's tax reforms as essential for Nigeria's economic growth. Oshiomhole advocates for increased taxes on the wealthy to enhance revenue.
Nigeria is intensifying efforts to enhance non-oil revenue through tax reforms. The focus is shifting from enforcement to encouraging voluntary compliance among taxpayers.
US consumer inflation reached a three-year high of 3.8% in April, driven by soaring energy prices amid geopolitical conflict. See the latest CPI data.
US consumer inflation has reached a three-year high, increasing to 3.8% year-on-year. This rise is attributed to the ongoing conflict in Iran.
A devastating fire at Kwara’s Mandate Ultra-Modern Market in Ilorin destroyed 24 shops. A suspected power surge caused the blaze affecting multiple busines
GBHub Africa has invested N150 million in Inyene Agro Processing Factory Ltd to enhance food security and nutrition. This initiative aims to support sustainable agricultural practices in Nigeria.
The naira showed stability in April despite a 30% drop in foreign exchange inflows. This was attributed to reduced import demand, which alleviated some pressure on the currency.
Security personnel foiled an armed robbery attempt at the TCN’s Ogbomoso transmission substation, repelling attackers. No staff were injured in the inciden
Tax experts reveal that Africa loses $89 billion each year due to illicit financial flows. They advocate for global tax reforms and enhanced transparency to combat this issue.