Economy
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BREAKING: At N140 per share, First Holdco hits all-time high
The stock price of First Holdco Plc on Thursday hit N140 per share on the Nigerian Exchange Limited (NGX), making it an all-time high since it was listed in 2012. In its Year till Date (YtD) performance, the stock price of First Holdco has appreciated by 192.3 per cent from N47.90 per share it closed for trading in 2025,…
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New revenue allocation formula to reach Tinubu in two weeks — RMAFC
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) says it expects to submit the final draft of the reviewed revenue allocation formula to President Bola Tinubu within the next two weeks for onward transmission to the National Assembly. Chairman of the Commission, Dr. Mohammed Bello Shehu, disclosed this on Wednesday while receiving a delegation from BusinessDay Newspaper led by its…
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Lagos launches market access initiative to expand opportunities for MSMEs
By Adeola Ogunrinde The Lagos State Government on Thursday launched the “Access to Market” initiative to connect Micro, Small and Medium Enterprises (MSMEs) with buyers, distributors, corporate partners and investors as part of efforts to strengthen entrepreneurship and drive sustainable economic growth. Speaking at the launch of the initiative at JJT Park, Alausa, the Commissioner for Wealth Creation and Employment,…
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Oyedele tells NOA forum why many Nigerians are still poor
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has said many Nigerians are yet to experience the full benefits of the Federal Government’s economic reforms because the country is still adjusting to the effects of the removal of fuel subsidy and other fiscal measures. Oyedele made the remarks while responding to questions at a public engagement…
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NITDA reaffirms Nigeria’s AI vision for MSMEs
The National Information Technology Development Agency (NITDA) has reaffirmed Nigeria’s commitment to an inclusive, innovation-driven AI ecosystem at the launch of the ECOWAS Small Business Coalition (ESBC)-INNOPOWER Free MSMEs AI Master Trainer Programme in Abuja. Speaking through the Director of Digital Development Services, Mr. Oladejo Olawunmi, the Director General, Kashifu Inuwa, described AI as a transformative force reshaping economies and…
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Tinubu reforms boosted Seplat, Dangote, BUA, others’ H1 gains — Presidency
The Presidency has attributed the strong first-half 2026 financial performance of companies listed on the Nigerian Exchange (NGX) to the economic reforms introduced by President Bola Tinubu’s administration, arguing that the gains reflect the impact of structural policy changes rather than isolated corporate successes. In a statement on Wednesday, Bayo Onanuga, special adviser to the president on information and strategy,…
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REPORT: Nigeria’s Dangote refinery aims to raise $5 billion with October listing, source says
Nigeria’s Dangote oil refinery is set for Africa’s biggest ever market listing as it seeks to raise about $5 billion through an initial public offering expected to conclude in October, a source with knowledge of the plan told Reuters. Majority owned by Africa’s richest man, Aliko Dangote, the refinery emerged as a big winner from the Iran war by selling…
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Femi Otedola mulls at increasing First Holdco stake to over 51%
Chairman of First HoldCo Plc, Mr Femi Otedola on Monday hinted at plans at increasing his stake in the oldest financial institution above 51 per cent from current 26 per cent. Nairametrics in a report noted that the billionaire investor disclosed that he has invested more than N600 billion of his personal wealth in First HoldCo, describing the move as…
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NRS issues comprehensive guidelines on virtual assets taxation
The Nigeria Revenue Service (NRS) on Monday issued comprehensive guidelines on the taxation of virtual assets. The guidelines provide a regulatory framework for the taxation of cryptocurrency and other digital asset transactions in line with the Nigeria Tax Act, 2025, and the Nigeria Tax Administration Act, 2025. The new guidelines are aimed at taxpayers, Virtual Asset Service Providers, Peer-to-Peer…
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Lagos MCCTI, Agbado/Oke-Ode LCDA partner to boost MSMEs
By Olatomiwa Osho The Lagos State Ministry of Commerce, Cooperatives, Trade and Investment (MCCTI) has strengthened grassroots economic development through a partnership with Agbado/Oke-Ode LCDA. The agreement, reached at the Ministry’s Alausa office, will extend enterprise, cooperative, and investment programmes to the grassroots, giving MSMEs better market access, skills, and support. Permanent Secretary Mr. Babatunde Onigbanjo described the partnership as…
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