By Adeyemi David Chairman of the House of Representatives Ad Hoc Committee on the Review of Tax and Export Incentives, Waivers and Exemptions, James Abiodun Faleke, has disclosed that Nigeria is losing an estimated N8 trillion annually to waivers and concessions granted to organisations and individuals by the Federal Government of Nigeria. In a statement…
By Adeyemi David The Nigeria Deposit Insurance Corporation (NDIC) has reaffirmed its commitment to protecting bank customers and strengthening public trust in financial system following a stakeholder townhall meeting in Enugu. The corporation in a tweet on it X handle announced an increase in deposit insurance coverage to ₦5 million for commercial bank customers and ₦2…
Odu’a Investment Company Limited has unveiled a new strategic roadmap, SRC 2.0 (2026–2030), setting an ambitious target of N1 trillion in total assets, N50 billion in group revenue, and N30 billion in profit before tax by the end of the decade. The strategy was presented at the company’s 2026 annual directors’ meeting held at Lagos…
Dangote Group has signed a $400 million agreement with China’s XCMG Construction Machinery Co., Ltd. to acquire advanced construction equipment, as it ramps up expansion of its petroleum refinery and wider industrial operations. The deal will support the expansion of the Dangote Petroleum Refinery and Petrochemicals from its current 650,000 barrels per day to 1.4…
Nigeria’s banking sector emerged as the top destination for foreign capital in the third quarter of 2025, attracting $3.14 billion and accounting for 52.25 percent of total capital imported into the country. This is according to the Capital Importation Report for Q3 2025 released by the National Bureau of Statistics (NBS), which showed a significant…
By Adeyemi David The Centre for the Promotion of Private Enterprise (CPPE) has said Nigeria’s inflation decline to 15.10 percent in January points to a significant shift toward macroeconomic stabilisation, offering relief for households and renewed confidence for investors. Founder of the CPPE, Muda Yusuf, made the assertion in a statement issued Monday in Lagos…
The National Bureau of Statistics (NBS) has reported that Nigeria’s telecommunications industry sustained strong performance in the second quarter of 2025, with active voice subscriptions reaching 171,730,06, representing a 0.48 percent increase from the 170,904,257 recorded in the corresponding period of 2024. The figures are contained in the NBS Telecoms Data: Active Voice and Internet,…
By Adeyemi David Ahead of 2026 deadline, Sterling Financial Holdings Company Plc has announced that its core banking subsidiaries, Sterling Bank and The Alternative Bank, have been fully recapitalised in compliance with revised minimum capital requirements set by the Central Bank of Nigeria (CBN). The confirmation follows final regulatory approvals received in January 2026, with…
….As food inflation hits single digit first time in 10 yrs … Naira hits N1,390 on black market as gap closes 2.5% …. Nigeria records strongest foreign inflows in five years on reforms By Adeyemi David Nigeria’s headline inflation rate moderated slightly to 15.10 per cent in January 2026, down from 15.15 per cent recorded…
By Adeyemi David Nigeria has pledged full infrastructural and operational support for the Combined Maritime Task Force in the Gulf of Guinea as part of efforts to strengthen regional security and tackle transnational crimes. President Bola Tinubu made the commitment during the 39th Ordinary Session of the Assembly of Heads of State and Government of…
