Business

 Heirs Holdings Founder, Mr Tony Elumelu tells Presidents Ruto and Macron that Africa wants partners of substance, based on equality, and that power and infrastructure must come first. At the 2026 Africa Forward Summit, convened by Kenyan President H.E. William Ruto and French President H.E. Emmanuel Macron, Heirs Holdings Founder and Group Chair, Tony Elumelu, delivered a direct message to…

The National Information Technology Development Agency has reaffirmed its commitment to building a coordinated and inclusive digital ecosystem in Nigeria, further strengthening its role as an orchestrator of the country’s technology ecosystem. This was disclosed during a working visit focused on Nigeria’s startup ecosystem framework, where the Director General of NITDA, Kashifu Inuwa, was represented by the agency’s Director of…

The National Agency for Food and Drug Administration and Control (NAFDAC) has cleared Food & Food Integrated Company Limited, makers of BON Bread, of allegations that its bread contains harmful substances. The agency said its investigation followed a viral social media video in which a blogger, Love Dooshima, claimed that a loaf of bread remained fresh for nearly two months…

The federal government says the decision by S&P Global Ratings to upgrade Nigeria’s sovereign credit rating from ‘B-’ to ‘B’ with a Stable Outlook reflects growing international confidence in the country’s economic reforms and policy direction. Taiwo Oyedele, minister of economy in a statement issued on Friday, said the latest upgrade follows similar positive rating actions by Fitch Ratings and…

The Minister of Art, Culture, Tourism and the Creative Economy, Hannatu Musa Musawa, has called for stronger professionalism and standardisation in Nigeria’s tourism sector as the National Institute for Hospitality and Tourism (NIHOTOUR) launched a nationwide certification and registration exercise for practitioners. She made the call on Thursday at the launch of NIHOTOUR’s nationwide registration, induction and professional practice certificate…

The International Finance Corporation (IFC) says it will send a team to Nigeria to explore scalable investment structures aimed at unlocking private capital in livestock, energy, and housing sectors. The Managing Director of the IFC, Diop Makhtar, disclosed this on Thursday during a meeting with President Bola Tinubu on the sidelines of the 13th Africa CEO Summit in Kigali, where…

Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has called for stronger unity and coordination among African countries to attract global investment and drive sustainable economic development across the continent. Speaking at the Africa CEO Forum in Kigali, Rwanda, on Thursday, Oyedele stated that Africa must present a more coordinated front to the world to unlock capital…

Chairman of First HoldCo Plc, Olufemi Otedola has further strengthened his position in the group following a fresh share acquisition valued at approximately N43.41 billion. The acquisition, executed on the Nigerian Exchange Limited (NGX) on May 13, 2026, involved the purchase of 549,535,653 shares at an average price of N79 per share. Consequently, Otedola’s stake in First HoldCo has climbed…

The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has urged the management of Guinness Nigeria Plc to sustain compliance with rules and regulations in the course of doing business in the country. Olukoyede gave the charge on Tuesday while receiving the management team of the company, led by its Managing Director and Chief Executive Officer,…

Minister of Budget and Economic Planning, Senator Abubakar Bagudu, has called on German investors to increase their investments in Nigeria, saying the economic reforms introduced by President Bola Tinubu have expanded business opportunities in the country. Bagudu made the appeal on Monday night at the Nigeria–Germany Business Day held in Lagos, with the theme, “Germany and Nigeria: Cooperating for Development…