Business

The Managing Director of the Nigerian Railway Corporation (NRC), Dr. Kayode Opeifa, has declared that the administration of President Bola Ahmed Tinubu will invest more in the country’s rail transport sector within the next two years than all past Nigerian governments combined.   Opeifa made the statement at the 11th…

Global foreign direct investment (FDI) fell by 11%, marking the second consecutive year of decline and confirming a deepening slowdown in productive capital flows, according to the World Investment Report 2025, released today by UN Trade and Development (UNCTAD) on 19 June. Although global FDI rose by 4% in 2024…

The Nigerian Electricity Regulatory Commission (NERC) has issued a new directive requiring all grid-connected Power Generation Companies (GenCos) to fully integrate their operations with the National Supervisory Control and Data Acquisition (SCADA) system by Dec. 31.The News Agency of Nigeria (NAN) reports that (SCADA)/Energy Management System (EMS) serves as the…

Fidelity Bank Plc has reaffirmed its financial resilience in light of the Central Bank of Nigeria’s (CBN) recent regulatory forbearance measures concerning Single Obligor Limits (SOL) and other credit facilities. In a statement issued on the Nigerian Exchange (NGX) Disclosures Portal, the bank assured stakeholders of its compliance with the…

FirstHoldCo Plc has reaffirmed its commitment to regulatory compliance, pledging to resolve all outstanding issues related to the Central Bank of Nigeria’s (CBN) prudential requirements, including breaches of the Single Obligor Limit (SOL) and forbearance on credit facilities.   The financial holding company also assured shareholders of its intention to…

Nigeria’s officially launched the National Tax Transition Steering Committee (NTTSC), a major institutional lever for driving national tax reforms in line with ECOWAS Directive C/DIR.5/07/23. This directive aims to establish a regional mechanism for monitoring and evaluating the ECOWAS Fiscal Transition Programme (FTP). The ceremony, presided over by Mrs Lydia…

Nigeria imported crude oil worth N1.19 trillion in the first quarter of 2025, making it the country’s third most imported commodity during the period, according to the National Bureau of Statistics (NBS). This revelation comes despite Nigeria being Africa’s largest oil producer—an irony that exposes deep-rooted inefficiencies in the country’s…

The Senior staff Association of Electricity and Allied Companies (SSAEAC) has given Abuja Electricity Distribution Company (AEDC) two weeks to the to pay productivity bonus and other outstanding staff benefits or be ready for another round of strike. In a letter addressed to the Acting Managing Director/CEO AEDC, Engr Chijioke Okwuokenye…

The Board of Banks’ Chief Executive Officers (CEOs) says that prolonged litigations of financial cases and enforcement bottlenecks impede banks’ capacity to support Small and Medium Enterprises (SMEs).   Chairman of the Board, Mr Oliver Alawuba, said this at the 23rd National Seminar on Banking and Allied Matters for Judges…

The domestic equities market on Tuesday sustained a decline profile, shedding N183 billion as bears continued to dominate the market as sell-off in banking stocks persisted. Market capitalisation of listed equities declined by 0.25 per cent to N72.497 trillion from N72.680 trillion it closed the previous day. The NGX All…