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Nigeria’s stock market opened the week on an assertive note, adding N1.755tn in a single session as heavyweight banking, cement and insurance counters lifted the benchmark to a fresh record and stretched a rally that has now defined the equities story for most of 2026. At the close of trading on Monday, the All…
Nigeria’s steel paradox is as stark as it is familiar. A nation sitting on large iron ore deposits, generating scrap metal in industrial quantities and riding a construction boom still imports almost all the steel it consumes, draining an estimated four billion dollars from the economy every year. A newly published private framework…
The Federal Government has officially dismissed widespread reports suggesting an impending ban on the export of raw cocoa beans, clarifying that its policy is focused on promoting local value addition rather than restricting exports. Minister of Agriculture and Food Security, Senator Abubakar Kyari, made the clarification in a statement issued on Friday, following public…
The Nigeria Revenue Service has given large companies until 31 July to adopt electronic invoicing fully. Failure to integrate with the new digital platform carries steep financial and operational penalties. Taxpayers with annual revenues above N5 billion must route all transaction invoices through the state system. The directive cements a sweeping tax modernisation effort launched…
Aliko Dangote has all but concluded a $2.5bn private share placement for Dangote Petroleum Refinery and Petrochemicals FZE, clearing the path for what is widely projected to become the largest initial public offering in Africa’s history and one of the boldest tests yet of the continent’s ability to finance its own industrial ambitions from…
Female food vendors who fry akara at roadside stalls across Yobe State are set to become the newest beneficiaries of a government empowerment drive, after the State Executive Council approved N460.83 million for the purchase of beans and cooking equipment to shore up their small trades. The approval, reached at a council meeting…
The Central Bank of Nigeria has rolled out strict new rules for retail currency dealers. A fresh circular caps weekly foreign exchange purchases for bureau de change operators at $150,000. Regulators want to curb speculation and bring order to a volatile parallel market. The policy bans dealers from using third-party accounts to access these funds….
One hundred thousand companies have been placed on notice for removal from Nigeria’s official register of businesses, as the Corporate Affairs Commission pushes ahead with one of the most sustained cleanups the country’s corporate database has ever seen. The Commission disclosed the fresh round in a public notice signed by its management on Wednesday, describing…
The N2.550 trillion that landed in the coffers of Nigeria’s three tiers of government for June carries a headline that is easy to read and a subplot that is far more consequential. The distributable sum, shared at the July meeting of the Federation Account Allocation Committee (FAAC) in Abuja, marks the highest monthly payout…
Nigeria’s downstream petroleum sector is bracing for renewed pressure on the foreign exchange market after Dangote Petroleum Refinery scrapped naira pricing for petrol, diesel and aviation fuel, a decision that could oblige marketers to source as much as 1.84 billion dollars every month to keep the pumps running and tie domestic fuel costs directly…
