Economy
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NBS to normalise December 2025 inflation data amid projected CPI hike
The National Bureau of Statistics (NBS) has announced plans to normalise Nigeria’s inflation figures for December 2025 following projections of a sharp spike in the Consumer Price Index (CPI), which it says is driven largely by technical base effects rather than underlying economic conditions. The disclosure was made on Monday during a virtual stakeholders’ engagement jointly convened by the NBS…
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Heritage Bank: NDIC declares N24.3bn second liquidation dividend to depositors
Following the revocation of the banking license of Heritage Bank Limited by the Central Bank of Nigeria (CBN) on June 3, 2024, the Nigeria Deposit Insurance Corporation (NDIC) has declared N24.3 billion second liquidation dividend to depositors with balances above the statutory insured limit of N5 million at date of closure Before now, NDIC was appointed as liquidator in accordance…
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JUST IN: KPMG misunderstood key provisions of new tax laws, says Presidency
By Kunle Sanni – The Presidential Fiscal Policy and Tax Reforms Committee has refuted concerns raised by global advisory firm Klynveld Peat Marwick Goerdeler (KPMG) regarding Nigeria’s newly enacted tax regime, dismissing many of the criticisms as misunderstandings of the law’s intent and structure. In a statement released on Saturday, the committee said it is open to feedback that enhances…
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Response to KPMG: Observations on Nigeria’s new tax laws
—𝘉𝘺 𝘗𝘳𝘦𝘴𝘪𝘥𝘦𝘯𝘵𝘪𝘢𝘭 𝘍𝘪𝘴𝘤𝘢𝘭 𝘗𝘰𝘭𝘪𝘤𝘺 𝘢𝘯𝘥 𝘛𝘢𝘹 𝘙𝘦𝘧𝘰𝘳𝘮𝘴 𝘊𝘰𝘮𝘮𝘪𝘵𝘵𝘦𝘦 We welcome all perspectives that contribute to a shared understanding and successful implementation of the new tax laws. We acknowledge that a few points raised by KPMG are useful, particularly where they relate to implementation risks and clerical or cross-referencing issues. However, the majority of the publication reflected a misunderstanding of the…
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FG establishes Nigeria House Davos ahead of World Economic Forum 2026
The federal government has announced the establishment of Nigeria House Davos ahead of the 56th Annual Meeting of the World Economic Forum (WEF), scheduled for January 19–23, 2026, in Davos, Switzerland. The initiative, according to a statement issued on Friday by Abiodun Oladunjoye, Director (Information and Public Relations), State House, marks Nigeria’s first official National House on the Davos Promenade…
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Dangote drags former NMDPRA boss to EFCC over corruption claims
The Chairman, Dangote Industries Limited, Aliko Dangote has filed a corruption petition at the Economic and Financial Crimes Commission (EFCC) against Farouk Ahmed, former Midstream Downstream Petroleum Regulatory Authority (NMDPRA) Managing Director. Dangote’s legal team submitted a petition to the EFCC, following the earlier withdrawal of a similar complaint filed with the Independent Corrupt Practices and Other Related Offences Commission…
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Africa’s trade marginalisation threatens global stability — Tuggar
By Kunle Sanni – Minister of Foreign Affairs, Yusuf Tuggar, has warned that Africa’s limited share of global trade is incompatible with the continent’s large population and poses long-term risks to global stability. Tuggar spoke on Wednesday at the 2026 Annual Conference of Ambassadors in Spain, held under the theme “Good Neighbourliness: Building Bridges or Building Walls.” He said Africa’s…
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NCC, CBN introduce joint framework to address failed airtime, data transactions
The Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) have developed a joint framework to address consumer complaints arising from failed airtime and data transactions. The framework targets issues linked to unsuccessful purchases caused by network downtimes, system glitches or human errors, following months of engagements with mobile network operators (MNOs), value-added service (VAS) providers, deposit money…
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Equities market gains N137bn to sustain positive momentum
The equities market segment of the Nigerian Exchange Limited (NGX) on Thursday continued its upward trajectory with a gain of N137 billion, driven by selective buying interest in fundamentally sound stocks. The NGX All Share Index gained by 214.80 basis points or 0.13 per cent to close at 160,806.56 basis points. Also, market capitalisation gained N137 billion to close at…
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Tinubu applauds NGX for crossing N100trn market capitalisation, urges Nigerians to invest locally
By Kunle Sanni – President Bola Tinubu has commended stakeholders in Nigeria’s capital market following the Nigerian Exchange’s (NGX) crossing of the N100 trillion market capitalisation mark, describing the milestone as a sign of renewed investor confidence and economic rejuvenation. In a statement by his spokesperson, Bayo Onanuga, on Thursday, the president praised corporate Nigeria, investors, and citizens for their…
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