Economy
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Benin Republic, others owe Nigeria $11.57m for electricity generation in Q3 2025, says NERC
The Nigerian Electricity Regulatory Commission (NERC) has revealed that Togo, Niger, and Benin Republic owe Nigeria $11.57 million for electricity supplied by electricity generation companies (GenCos) under bilateral arrangements in the third quarter (Q3) of 2025. In its Q3 2025 report, the commission said although an invoice of $18.69 million was issued by the market operator (MO), only $7.12 million…
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Wale Tinubu lauds Femi Otedola, Tony Elumelu as exceptional investors, hails Seplat, Geregu transactions
By Kunle Sanni – Group Chief Executive Officer of Oando Plc, Wale Tinubu, has praised billionaires Femi Otedola and Tony Elumelu for what he described as exceptional investment decisions, citing recent transactions involving Geregu Power Plc and Seplat Energy as landmark deals that signal strong investor confidence at the start of 2026. Reflecting on the first week of work in…
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Nigeria’s fish production rises by 300,000 metric tonnes in 2025 — Ministry
By Kunle Sanni – Nigeria recorded an increase of 300,000 metric tonnes in fish production in 2025, marking the first growth in output in more than a decade, the Ministry of Marine and Blue Economy has said. The development was disclosed in a statement issued on Wednesday by the Special Adviser to the Minister, Dr Bolaji Akinola, who attributed the…
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2026 budget to consolidate Tinubu’s reforms — Information minister
The Minister of Information and National Orientation, Mohammed Idris, has described the 2026 federal budget as a strategic instrument designed to consolidate the gains of President Bola Ahmed Tinubu’s reform agenda and accelerate shared prosperity for Nigerians. Idris stated this in an op-ed published on Monday in national newspapers, titled “A Defining Moment for Nigeria: Why Staying the Course Matters.”…
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Helios Investment exits Axxela after selling 75% stake to BlueCore Gas
Helios Investment Partners, a private investment firm, says it has completed the sale of its 75 per cent equity stake in Axxela Limited, an African gas and power company, to BlueCore Gas InfraCo Limited, a consortium of Nigerian and international energy players. BlueCore is backed by a strategic alliance comprising Afrigaz Energie LLP (a portfolio company of Stanbic IBTC Infrastructure…
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FirstHoldCo: FirstBank achieves N500bn CBN capital requirement
First HoldCo Plc on Monday announced that its commercial banking subsidiary, First Bank of Nigeria (FirstBank), has successfully met the Central Bank of Nigeria’s (CBN) minimum capital requirement of N500 billion. The Group Company Secretary,First Holdco Plc, Abiola Baruwa in a signed statement on the Nigerian Exchange Limited (NGX) noted that meeting capital requirement of CBN is a milestone…
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Access Holdings drops by 11.9% to emerge worst banking stock price in 2025
The stock price of Access Holdings Plc dropped by 11.9 per cent to emerge as the worst performing banking stock on the Nigerian Exchange Limited (NGX) in 2025 amid negative sentiment trading by investors. The stock price that closed for 2024 at N21 per share, slumped by 11.9 per cent or N2.85 per share to close 2025 at N23.85 per…
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Market cap of NGX crosses N100trn on strong early-year buying
Nigerian Exchange Limited (NGX) opened the year on a strong footing, with equities market capitalisation crossing the N100 trillion mark, buoyed by renewed investor demand and broad-based gains across listed stocks. Market data showed that equities market capitalisation rose from N99.94 trillion on January 2 to N101.81 trillion by January 5 to open the week positive, translating to a N1.87…
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More than 95% poor Nigerians are exempted from FG’s tax reform, says Adedeji
The Executive Chairman, Nigeria Revenue Service, Dr. Zaach Adedeji on Sunday revealed that more than 95 per cent poor Nigerians are exempted from the Federal Government new tax reform, stressing that the aim of the reform is to tax rights. The Nigeria Revenue Service in an exclusive interview with Reuben Abati on AriseTV stated that the focus of tax reform …
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Tinubu’s reforms not designed for instant abundance – Budget Office DG
By Kunle Sanni – The Director General of the Budget Office of the Federation, Tanimu Yakubu, has said that President Bola Tinubu’s economic reforms, popularly referred to as Tinubunomics, were never designed to deliver “instant abundance” but to reset Nigeria’s macro-fiscal framework under difficult conditions. He made the disclosure on Sunday, saying the reforms represent a “macro-fiscal reset undertaken within…
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