Business

The Federal Government has implemented a new tariff regime that significantly reduces Customs levies on imported vehicles, cutting import charges on new vehicles by 50 per cent and on used vehicles by about 67 per cent. The revised tariff structure, which took effect on July 1, forms part of the Federal Government’s 2026 fiscal policy measures aimed at lowering the…

Analysts at the Nigerian capital market have mounted a strong defence of the country’s recent T+1 settlement reform after FTSE Russell suspended its planned reclassification of Nigeria to Frontier Market status. The global index provider announced the decision on Tuesday, citing the need for further assessment of the operational impact of Nigeria’s transition to a T+1 settlement cycle. Market operators,…

The Nigeria’s equities market suffered its worst month on record in June 2026 after investors wiped N13.29 trillion off the value of their investment in key fundamental companies. The June decline is the largest monthly destruction of shareholder value ever recorded on the Nigerian Exchange, easily surpassing previous records as profit-taking, dividend adjustments and portfolio rebalancing triggered heavy selling across…

Nigerian carrier Air Peace has taken delivery of its first factory-new Embraer E175 aircraft, marking another significant milestone in its fleet modernisation programme aimed at enhancing domestic and regional air connectivity. The delivery was announced on Tuesday by Brazilian aircraft manufacturer Embraer, further strengthening its longstanding partnership with the airline, which already operates the Embraer E195-E2, E190-E1 and ERJ145 aircraft.…

FMDQ Exchange has revealed that the Foreign Exchange (FX) market recorded a total turnover of $2.84 billion in the week ended June 26, 2026, as trading activity strengthened across both spot and derivatives segments. According to the FMDQ report, a total turnover of $2.84 billion represented an increase of $512.37 million, or 22.06per cent, compared with the $2.32 billion recorded…

.. questions marketers over slow fuel price cuts The Federal Competition and Consumer Protection Commission (FCCPC) has raised concern over its surveillance of the downstream petroleum market, saying consumers may be facing undue exploitation as fuel prices remain high despite falling crude oil costs. In a statement on Sunday by its Director of Corporate Affairs, Ondaje Ijagwu, the Commission said…

President Bola Tinubu has congratulated the Group Chief Executive of Oando Plc, Adewale Tinubu, on his 59th birthday, commending his contributions to Nigeria’s energy sector and economic development. In a statement issued on Friday by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, President Tinubu described the Oando boss as an entrepreneur whose leadership transformed Oando from a…

The National Information Technology Development Agency (NITDA) has reaffirmed its commitment to making Nigeria a leader in Africa’s artificial intelligence (AI) economy, saying the country’s digital future depends on responsible AI adoption, digital sovereignty, and homegrown innovation. Speaking on the theme, “From Policy to Progress: Accelerating Responsible AI Adoption for Nigeria’s Digital Decade,“ at the AI Summit Nigeria 2026 in…

The Federal Government has officially handed over the Akanu Ibiam International Airport (AIIA), Enugu, to Aero Alliance Limited under a public-private partnership (PPP) arrangement aimed at transforming the facility into a world-class aviation hub. The concessionaire will oversee the financing, rehabilitation, expansion, operation, and management of the facility. Speaking during the handover ceremony on Thursday at the airport’s international terminal,…

The Economic and Financial Crimes Commission (EFCC) and the Corporate Affairs Commission (CAC) have expressed concern over the growing risks posed by unregistered Point of Sale (POS) operators to businesses and national security, pledging closer collaboration to enforce compliance across the country. The concerns were raised on Thursday in Abuja when the Chairman of the CAC Board, Senator Ibrahim Adah,…