October 6, 2025 The African Development Bank (AfDB) will lend Nigeria $500 million this year as part of a $1 billion budget support programme, following economic reforms introduced by President Bola Tinubu,…
Category: Business & Economy
Oil rises after OPEC+ hikes output less than expected
October 6, 2025 Oil prices rose more than 1% on Monday after OPEC+’s planned production increase for November was more modest than expected, tempering some concerns about supply additions, though a soft…
FCCPC approves UAC’s acquisition of Chivita/Hollandia
Oct. 5, 2025 The Federal Competition and Consumer Protection Commission (FCCPC) has approved the acquisition of Chivita/Hollandia (CHI Ltd.) by UAC of Nigeria Plc. UAC confirmed the development in a corporate disclosure…
EXPLAINER: The misconceptions around Tinubu’s income tax reforms, by Michael Chibuzo
As the countdown to the January, 2026 effective take off of two landmark Tax Reform laws gathers steam, wrong narratives and misconceptions about aspects of the new tax laws have also…
$32.8m data privacy sanction: NDPC, Meta opt for out of court settlement
The Nigeria Data Protection Commission (NDPC) and Meta Platforms, Inc., on Friday, agreed to settle out of court over the dispute on the $32.8 million fine imposed against the latter by the…
Niger State government signs multi billion dollar MoU on cotton, maize, soya production
October 3, 2025 The Republic of Benin has signed a multi-billion-dollar Memorandum of Understanding with Niger State, Nigeria, to boost cotton, maize, and soybean production. In a statement by the State government,…
Nigeria’s daily oil output plunged 16% during brief Dangote refinery strike
October 2, 2025 Nigeria’s daily oil and gas production slumped during a brief nationwide strike by oil workers’ union PENGASSAN that was called off on Wednesday after government-mediated talks with Dangote Refinery,…
Loan facility: Lawyer threatens lawsuit against Polaris Bank
A lawyer, Chuckwuma-Machukwu Ume, SAN, has threatened a lawsuit against Polaris Bank for allegedly withholding a loan facility of N868 million belonging to a customer, Kenchez Nigeria Limited. Ume, a former Attorney-General…
AFRICA-FX-Nigeria’s currency could rise and Ghana’s fall
October 2, 2025 Nigeria’s currency is forecast to edge up against the dollar in the next week to Thursday, while Ghana’s and Zambia’s may weaken, and Kenya’s should remain steady, traders said….
Nigeria to showcase 105 innovations in London to attract investments
Oct. 2, 2025 The National Board for Technology Incubation (NBTI) says Nigeria is ready to showcase 105 innovations in London that will attract foreign investments and provide solutions to some challenges facing…