Economy
-
New tax reforms designed to build a stronger fiscal foundation for Nigeria, says Oyedele
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the new tax reforms under president Bola Tinubu were designed to build a stronger fiscal foundation for Nigeria after years of structural weaknesses in the country’s tax administration. According to him, government revenue had remained too low compared to the country’s growing development needs, making the old…
Read More » -
EFCC chairman tasks Guinness Nigeria on compliance with regulations
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,…
Read More » -
Nigeria to spend $11.6bn on debt servicing in 2026 — Tinubu
President Bola Tinubu says Nigeria will spend about $11.6 billion on debt servicing in 2026, representing nearly half of the country’s projected revenue, as he called for urgent reforms to the global financial system. Speaking on Tuesday at the Africa Forward Summit in Nairobi, Kenya, Tinubu said African economies were being constrained by what he described as a global financial…
Read More » -
‘Invest in Africa to reduce migration pressures,’ Tinubu tells global partners
President Bola Tinubu has called on international partners to support Africa with concrete investments that create jobs and opportunities for young people, warning that irregular migration cannot be tackled through rhetoric alone. Speaking on Tuesday at the Africa Forward Summit in Nairobi, Kenya, Tinubu said the root causes of migration must be addressed through economic development, improved security and access…
Read More » -
Lagos targets 1,000 Commonwealth delegates for 2026 Invest Lagos Summit
By Adeola Ogunrinde No fewer than 1,000 delegates from Commonwealth nations and other global investment communities are expected in Lagos for the third edition of the Invest Lagos Summit, as the state government intensifies efforts to position the state as Africa’s leading gateway for business and investment. The two-day summit, themed “Lagos: Business Gateway to Africa”, is scheduled to hold…
Read More » -
Dangote eyes $50bn refinery valuation ahead of IPO
Africa’s richest man, Aliko Dangote is reportedly targeting a valuation of up to $50 billion for his refinery business ahead of the planned initial public offer (IPO) expected later this year. Dangote had, in 2025, said the refinery could sell up to 10 percent stake in the listing, implying a deal size of up to $5 billion (N6.86 trillion at…
Read More » -
Nigerian equities market appreciates by N1.5trn in one day
The Nigerian equities market on Tuesday maintained its positive momentum as investors gained approximately N1.519 trillion, bringing the total market capitalization to cross N161 trillion. The Nigerian Exchange Limited All-Share Index (NGX ASI) rose by 0.77 per cent, to close at 252,411.67 points. Similarly, the overall market capitalisation value gained N1.5 trillion to close at N161.775 trillion. The market positive…
Read More » -
Zichis Agro Allied crosses N40 per share on NGX
The stock price of Zichis Agro-allied Industries Plc on Tuesday crossed the N40 per share on the floor of the Nigerian Exchange Limited (NGX) amid high investor demand. The stock price that closed for trading on Monday at N36.69 per share, gained 9.98 per cent or N3.66 per share to close on Tuesday at N40.35 per share. Listed on January…
Read More » -
First HoldCo to seek shareholders’ approval to raise N253bn fresh capital
First HoldCo Plc, the parent company of First Bank of Nigeria will be seeking shareholders’ approval to raise up to N253.099 billion in fresh capital, as the group pursues an audacious target of reaching a N1 trillion paid-up capital base comprising share capital and share premium. The fundraising plan is contained in the notice for the group’s 14th Annual General…
Read More » -
Lagos commissioner breaks down 2026 N4.444 trillion budget, reaffirms administration’s focus on development
By Adeola Ogunrinde The Commissioner for Economic Planning and Budget, Ope George, said the 2026 “Budget of Shared Prosperity” signed by Governor Babajide Olusola Sanwo-Olu is designed to strengthen infrastructure sustainability, economic diversification, institutional reforms, and inclusive social development across Lagos State. He disclosed that the ₦4.444 trillion budget comprises ₦2.338 trillion for capital expenditure and ₦2.106 trillion for recurrent…
Read More »
Follow our WhatsApp Channel