By Seun Ibiyemi Nigerian banks have mobilised a total of N4.61 trillion in fresh capital under the ongoing recapitalisation programme of the Central Bank of Nigeria (CBN), reflecting robust investor confidence and increased foreign participation in the sector. This was disclosed in a statement issued on Tuesday following remarks by the CBN Governor, Olayemi Cardoso,…
By Seun Ibiyemi The Nigeria Customs Service (NCS) has uncovered a massive discrepancy between the declared and actual value of imported goods in 2024, revealing widespread undervaluation and non-compliance among importers. According to newly released Pre-Arrival Assessment Report (PAAR) performance data, the customs service recorded a 117.92 per cent increase in assessed values compared to…
Nigerian Exchange Group has partnered with the Federal Ministry of Women Affairs and Social Development to deepen women’s economic empowerment and promote gender inclusion in Nigeria’s capital market. The collaboration came to the fore during a strategic visit by the Minister of Women Affairs and Social Development, Imaan Sulaiman-Ibrahim, to NGX Group in Lagos on…
By Seun Ibiyemi Nigeria’s Minister of Power, Adebayo Adelabu, has announced that the Federal Government is implementing urgent measures to address gas supply constraints responsible for the country’s persistent electricity shortages. Speaking at a press conference in Abuja on Tuesday, Adelabu acknowledged widespread public frustration over poor power supply, attributing the situation largely to inadequate…
By Seun Ibiyemi The Federal Government on Tuesday launched the first phase of the National Single Window (NSW), a digital platform designed to streamline international trade processes and tackle the persistent congestion burden on Nigerian businesses. The initiative was unveiled by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, as part…
By Seun Ibiyemi The Nigerian naira traded with relative stability on Tuesday, amid continued fluctuations in the foreign exchange market, reflecting cautious optimism driven by improving liquidity and market reforms. Latest data from market trackers indicate that the naira hovered around the ₦1,360–₦1,370 range against the United States dollar in the official Nigerian Foreign Exchange…
By Seun Ibiyemi The Group Chief Executive Officer of NNPC Limited, Engr. Bashir Bayo Ojulari, has outlined a pragmatic roadmap for Nigeria’s energy future, stressing that the country’s success will depend on disciplined execution, strategic partnerships, and clear value delivery. Ojulari made the remarks on the opening day of CERAWeek 2026, widely regarded as the…
By Seun Ibiyemi The Centre for the Promotion of Private Enterprise (CPPE) has rejected calls for additional taxation on sugar-sweetened beverages (SSBs), describing the proposal as ill-timed and potentially harmful to Nigeria’s fragile economic recovery. In a policy brief released on Tuesday, the CPPE faulted the recommendation by the Corporate Accountability and Public Participation Africa…
By Seun Ibiyemi The Nigerian Independent System Operator (NISO) has clarified that electricity generated in the country has been consistently dispatched and fairly distributed to all Electricity Distribution Companies (DisCos), despite recent supply challenges. In a statement issued on Monday in Abuja, the system operator dismissed claims that any DisCo was allocated zero megawatts of…
By Seun Ibiyemi The Nigerian equities market began the trading week on a bearish note on Monday, shedding N1.375 trillion in market capitalisation amid widespread profit-taking by investors. At the close of trading, market capitalisation declined by 1.07 per cent to N127.750 trillion, down from N129.125 trillion recorded at the previous session. Similarly, the All-Share…
