By Seun Ibiyemi The Bank of Industry Limited (BOI) has commended President Bola Ahmed Tinubu for his support following the oversubscription of its N250 billion Series 1 Fixed Rate Bond within five working days. The bond was issued through BOI Financing SPV Plc under the bank’s $1 billion Multi-Currency Instruments Programme. BOI Chief Executive Officer,…
By Seun Ibiyemi Nigeria’s headline inflation rate eased to 15.43 per cent in July 2026, but households continued to face renewed pressure from rising food prices, which accelerated sharply on a month-on-month basis. The National Bureau of Statistics (NBS) disclosed this in its Consumer Price Index report for July 2026 released on Monday. According to…
The Federal Government has urged state governments to aggressively expand their internally generated revenue (IGR) and reduce dependence on monthly allocations from the Federation Account to build sustainable and resilient economies. The Minister of Finance and Coordinating Minister of the Economy, Prof. Taiwo Oyedele, gave the charge on Monday in Owerri, Imo State, while declaring…
…As Comptroller Oshoba credits reforms, forex stability By Seun Ibiyemi The Nigeria Customs Service (NCS), Apapa Area Command, generated a record N323 billion in revenue in July 2026, marking the highest monthly collection ever recorded by the command. The latest performance surpassed the N304 billion collected in October 2025, which was previously one of the…
By Seun Ibiyemi The Debt Management Office (DMO) has offered a total of N1.1 trillion worth of Federal Government of Nigeria (FGN) bonds for subscription in its August 2026 auction as the government continues to raise funds through the domestic capital market. The auction, scheduled for August 17, 2026, comprises three re-opened FGN bonds with…
Caverton Offshore Support Group Plc recorded a 41 per cent quarter-on-quarter increase in revenue to N8.6 billion in the second quarter of 2026, while its loss narrowed by about N1.2 billion as the company continued efforts to strengthen its financial position. The company disclosed this in its unaudited results for the six months ended June…
By Seun Ibiyemi The University of Port Harcourt (UNIPORT) Business School is set to convene a three-day workshop aimed at developing practical strategies to accelerate Nigeria’s sustainable economic transformation through innovative governance, strategic leadership and institutional reform. The workshop, scheduled for September 2 to 4, 2026, will be held under the theme, “Advancing Sustainable Economic…
The Senate Public Accounts Committee has given Seplat Energy and three other oil companies 48 hours to appear before it and respond to queries raised in the 2021, 2022 and 2023 audit reports of the Nigeria Extractive Industries Transparency Initiative (NEITI). The other companies affected are Network E&P Nigeria Limited, All Grace Energy Limited and…
United Bank for Africa (UBA) Plc has partnered with Mikano Motors to introduce a vehicle financing scheme aimed at expanding access to new cars for Nigerians, with customers required to provide only 30 per cent of the vehicle cost upfront. Under the initiative, tagged “Drive Your Dream Today,” UBA will finance the remaining 70 per…
By Seun Ibiyemi President Bola Ahmed Tinubu has set an ambitious target to more than double the contribution of Nigeria’s livestock sector to the national economy, potentially lifting its annual economic value from over $32 billion to more than $64 billion. The President disclosed this on Monday in Abuja at the opening of the 9th…
