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ABUJA — President Bola Ahmed Tinubu has formally lauded the Bank of Industry (BOI) for a historic N636 billion loan disbursement to Nigerian enterprises in 2025. This record-breaking volume, the highest in the institution’s history, reached over 7,000 enterprises across the federation. The President characterized this milestone as empirical validation of his administration’s macroeconomic reforms….
ABUJA — The Nigeria Revenue Service (NRS) has shattered previous records by generating N28.3 trillion in tax revenue during the 2025 fiscal year. This figure represents a staggering 30 percent increase over the N21.7 trillion collected in 2024. Executive Director of Government and Large Taxpayers, Hajiya Amina Kurawa, announced these results during a management retreat…
LAGOS — Global oil prices surged toward the $70 threshold this week following a breakdown in diplomatic negotiations between Washington and Tehran. Brent crude climbed to $69.25 per barrel, marking a sharp ascent from the $67 recorded just last week. This rally intensified after nuclear talks in Oman collapsed without a resolution between the two…
The Nigerian Exchange Limited sustained a remarkably positive trajectory during the final trading sessions of the week. Investors effectively added four trillion naira to their collective wealth over a brief five-day operational period. This significant appreciation reflects a renewed confidence in the underlying fundamentals of the domestic corporate sector. Market capitalisation reached an unprecedented peak…
The Federation Account Allocation Committee (FAAC) has shared a total of ₦1.97 trillion for December 2025. This disbursement represents the collective revenue generated by the federation during the final month of last year. The committee distributed these funds among the Federal Government, the 36 states, and 774 local governments. This record-breaking figure reflects a significant…
In a landmark shift for Nigeria’s fintech landscape, global payment giant PayPal has officially re-entered the country. This return comes via a strategic partnership with Paga, Nigeria’s leading mobile payment platform. The collaboration ends a 13-year wait since Paga first proposed a partnership to the American firm. Consequently, this move promises to bridge the gap…
The Nigerian Civil Aviation Authority (NCAA) has pushed back strongly against claims that soaring domestic airfares are driven by multiple government taxes, insisting that airlines do not pay the levies being cited and that recent fare spikes are the result of market forces rather than regulatory burdens. In a statement posted on X on Sunday,…
President Bola Tinubu has approved the cancellation of a significant portion of the Nigerian National Petroleum Company Limited’s outstanding debt to the Federation Account, wiping off about $1.42 billion and N5.57 trillion following a reconciliation of records between both parties. The approval was disclosed in a document prepared by the Nigerian Upstream Petroleum Regulatory Commission…
The Tony Elumelu Foundation (TEF) has officially announced the opening dates for its flagship 2026 Annual Grant program, reinforcing its decade-long commitment to catalyzing African entrepreneurship. Applications for the highly competitive program will be accepted from January 1 to March 1, 2026. Widely recognized as one of the continent’s most comprehensive entrepreneurship support initiatives,…
With just four days to the scheduled commencement of Nigeria’s sweeping tax reforms, tensions are mounting as organised labour, small businesses and employers’ groups warn of resistance, while manufacturers have declared support for the new laws. The Nigeria Labour Congress (NLC) has threatened a nationwide revolt over the planned January 1, 2026 implementation of the…
