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The Business NG - July 16, 2025

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In this issue

BusinessNG Editorial Focus | July 16, 2025

Title: Visa Policy Shift: A Diplomatic Wake-Up Call

The recent U.S. and UAE visa restrictions on Nigerians are more than administrative actions—they are a clear signal of eroding trust in Nigeria’s systems. The U.S. now limits non-immigrant visas for Nigerians to single-entry, three-month validity, citing high overstay rates and poor identity verification. While the Tinubu administration says discussions are ongoing, this must trigger deeper reforms. Nigeria must fix its identity management, strengthen consular relations, and hold reciprocal visa talks. Our foreign policy must shift from reactive diplomacy to assertive, reform-led engagement. Until then, Nigerians will continue to face travel roadblocks.

Liquidity Crunch Deepens as Banks Settle AMCON Levies

Interbank lending rates climbed sharply on Monday as liquidity in the financial system tightened following the settlement of levies by deposit money banks to the Asset Management Corporation of Nigeria (AMCON).

1 mins

Missing N210trn: Senate Puts NNPC Under Pressures Over Financials

The Nigerian Senate Committee on Public Accounts is demanding urgent explanations from the Nigerian National Petroleum Company Limited (NNPCL) over 210 trillion in discrepancies uncovered in its audited financial statements covering 2017 to 2023.

2 mins

Dangote Begins Seaport Bid in Ogun Free Zone

Africa’s richest man, Aliko Dangote, has officially submitted paperwork to begin the construction of a deep seaport at the Olokola Free Trade Zone in Ogun State, marking a major step forward in a long-anticipated infrastructure project that could redefine Nigeria's logistics landscape.

1 mins

Equities Rally Adds N340bn as Market Hits N80trn Milestone

The Nigerian equities market extended its bullish momentum on Monday, gaining 340.58 billion in market value as investors sustained buying pressure in bellwether stocks.

1 mins

A word for Governor Oyebanji

With the 2026 Ekiti State governorship election date set, the stage is now ready. The key issue is that incumbent Governor Biodun Abayomi Oyebanji, aka BAO, of the All Progressives Congress (APC) appears poised to win unopposed. It is much like a candidate in a parliamentary system who is “returned unopposed” due to a lack of challengers.

5 mins

Polaris Bank Champions Media Excellence with 2025 Journalism Seminar

Polaris Bank has reaffirmed its dedication to journalism development in Nigeria as it prepares to host the 2025 edition of its Annual Media Capacity Seminar.

1 mins

LivingTrust Delivers 30% Profit Jump in H1 2025

LivingTrust Mortgage Bank Plc has posted a 30.1% rise in profit after tax, recording N551.28 million for the half year ended June 30, 2025, up from N423.65 million in the same period last year.

1 mins

FirstBank Rolls Out Facial Recognition for Mobile Banking

FirstBank of Nigeria has launched a groundbreaking facial biometric feature on its FirstMobile app, allowing customers to enroll and activate their devices without the need for a debit card. This innovation introduces a new era of secure, card-free mobile banking.

1 mins

UBA, VERICASH Mark 10 Years of Digital Banking Innovation

United Bank for Africa Plc (UBA), Africa's Global Bank, is celebrating a decade of groundbreaking partnership with fintech giant VERICASH, a collaboration that has redefined digital banking across the continent.

1 mins

The Alternative Bank Champions Bold Action for Africa’s Future

The Alternative Bank has reaffirmed its commitment to driving sustainable development across Africa ahead of the highly anticipated 2025 Africa Social Impact Summit (ASIS).

2 mins

PenCom Approves 9 PSSPs to Ease Pension Remittances

In a major push to streamline pension contributions and reduce administrative errors, the National Pension Commission (PenCom) has approved nine Pension Service Solution Providers (PSSPs) to help employers remit pension contributions with greater speed, accuracy, and transparency.

1 mins

Heirs Insurance Group Achieves 70% Revenue Spike in FY2024

BY OLUSEGUN OBISANYA

2 mins

NAICOM Mourns Buhari, Hails Late President's Support for Insurance Reforms

The National Insurance Commission (NAICOM) has joined the nation in mourning the death of former President Muhammadu Buhari, describing him as a committed leader whose tenure contributed to the strengthening of Nigeria's insurance sector.

1 mins

Insurance Boom: Profits Soar, Risks Linger

Nigeria's top listed insurance firms are experiencing their most profitable run in over a decade, driven by rising interest rates, stricter regulation, and better investment strategies.

1 mins

How Nigeria's Pensions Grew from N200bn to N19trn

Two decades ago, Nigeria's pension system was on the brink of collapse. The country was grappling with a debt-ridden, unsustainable pay-as-you-go scheme, where pensioners were often left unpaid for months—if not years. The total liability hovered around 2 trillion, with many retirees living in poverty and despair.

1 mins

NASD OTC Index Rises 0.26% as Investors Trade N39m in Unlisted Stocks

The NASD Over-the-Counter (OTC) Securities Exchange closed Friday's session on a bullish note, with the NASD Securities Index (NSI) gaining 0.26% to settle at 3,433.20

1 mins

Smart Strategies Shine in Unpredictable H1 2025 Market

The first half of 2025 presented a mixed bag for investors navigating Nigeria's capital market.

1 mins

Omatek, Mutual Benefits Set for Key Meetings

Two listed companies on the Nigerian Exchange (NGX), Omatek Ventures Plc and Mutual Benefits Assurance Plc, have issued official notifications for upcoming corporate meetings, signaling key governance activities in July 2025.

1 mins

Soybeans, Cocoa Gain on AFEX as Maize, Rice Dip

At the close of trading on Friday at the AFEX Commodity Exchange, soybeans and cocoa posted modest gains, rising by 2.05% and 0.27% to settle at 932.25 and 11,115.80 per contract, respectively.

1 mins

Investors Gain N1.08trn as Banking, FMCG Stocks Power Bullish Week on NGX

The Nigerian stock market extended its bullish momentum throughout the trading week, closing strong on Friday with a massive gain of 1.08 trillion in market capitalisation.

1 mins

Naira Weakens Slightly Across Forex Markets

The naira depreciated marginally across major segments of the foreign exchange (FX) market on Thursday, reflecting sustained pressure on dollar liquidity and growing demand for foreign exchange.

1 mins

FCMB Wins Enactus Award for Empowering Youth Change-Makers

First City Monument Bank (FCMB) has been honoured with the prestigious Changemaker Collaboration Award by Enactus Nigeria in recognition of its outstanding support for youth-led innovation and social impact across Nigeria.

2 mins

Goodbye Buhari: Tinubu Sends Shettima to Escort Late President's Body

President Bola Tinubu has dispatched Vice President Kashim Shettima to the United Kingdom to accompany the body of former President Muhammadu Buhari back to Nigeria following his death in London on Sunday.

1 mins

Apapa Customs Seizes N9.2bn Worth of Illegal Goods, Boosts Revenue to N1.37tn

The Apapa Command of the Nigeria Customs Service (NCS) has announced the seizure of nine containers filled with unregistered pharmaceuticals, used clothing, expired margarine, and illegal wildlife products, including animal skins—valued at over 9.2 billion in duty-paid terms.

1 mins

Customs Hosts Igbinedion University Students, Highlights Trade, Diplomacy Role

As part of its continuous efforts to promote public engagement and foster a deeper understanding of its mandate, the Nigeria Customs Service (NCS) on Tuesday, July 8, 2025, welcomed students of International Relations from Igbinedion University, Okada (IUO), on an educational excursion to its headquarters in Abuja.

1 mins

Customs Debunks Payment Rumours over Form M Migration to B'Odogwu

The Nigeria Customs Service (NCS) has categorically dismissed claims suggesting that importers or their agents are required to pay fees for migrating Form M documents from the NICIS II platform to the newly deployed B'Odogwu Trade Management System.

1 mins

Multichoice vs FCCPC: Who Controls the Price of TV?

MultiChoice Nigeria and the Federal Competition and Consumer Protection Commission (FCCPC) are locked in a legal showdown over DStv and GOtv price hikes, with both sides appealing a recent court ruling. In this report, Segun Awoniyi examines how the outcome could redefine consumer protection and corporate regulation in Nigeria.

7 mins

DAPPMAN Credits Regulator for Fuel Price Relief

The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has attributed the recent drop in fuel prices to the regulatory reforms implemented by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

1 mins

Refinery Must Work, Not Just Be Sold - IPMAN

The Independent Petroleum Marketers Association of Nigeria (IPMAN), Port Harcourt Depot Unit, has urged the Federal Government and the Nigerian National Petroleum Company Limited (NNPCL) to prioritize operational functionality over ownership structure in addressing the challenges facing the Port Harcourt Refinery.

1 mins

Oil Slips as Trump Threatens Russia with Sanctions

Crude oil prices edged lower on Tuesday as geopolitical tensions, rising supply, and softening demand continued to pressure market sentiment.

1 mins

Fuel Price Falls as Buhari is Honoured

Petroleum marketers across Nigeria have slashed petrol prices in response to a drop in ex-depot rates from the Dangote Refinery, as the country observes a public holiday today in honour of former President Muhammadu Buhari.

1 mins

Geregu Power Posts N20.18bn Profit in H1 2025

Geregu Power Plc has reported a profit after tax of N20.18 billion for the half-year ended June 30, 2025, marking a strong performance despite macroeconomic headwinds in Nigeria's power sector.

1 mins

Natasha Misled Public on Court Ruling-Legal Analyst

Legal analyst Dayo Fadugba has accused suspended Kogi Central Senator Natasha Akpoti-Uduaghan of deliberately misrepresenting the outcome of a recent Federal High Court judgment, claiming she falsely portrayed a legal defeat as a victory in a bid to return to the Senate.

1 mins

Buhari Had No Home in London, Relied on Friends for Medical Bills

Femi Adesina

1 mins

Nigeria, China Target Youth with Digital Skills

In commemoration of World Youth Skills Day (WYSD) 2025, the Nigeria-China Strategic Partnership (NCSP) is intensifying efforts to empower Nigerian youth through artificial intelligence (AI) and digital skills development. The initiative underscores the growing strength of Nigeria-China relations while addressing the pressing need to equip the country's youth for the digital future.

1 mins

Jumia Names Temidayo Ojo as New CEO for Nigeria

Africa’s leading e-commerce platform, Jumia, has announced the appointment of Temidayo Ojo as the new Chief Executive Officer of Jumia Nigeria, succeeding Sunil Natraj.

1 mins

Auxano Solar Becomes First Nigerian Manufacturer to Attain Global IEC Certification for Solar Panels

In a landmark development for Nigeria’s clean energy industry, Auxano Solar, a leading indigenous solar panel assembler, has received the prestigious IEC 61215 and IEC 61730 certifications for its photovoltaic (PV) modules.

2 mins

Rinsola Babajide Eyes Strong Start at AS Roma After Free Transfer

Super Falcons forward Rinsola Babajide has expressed excitement and determination following her move to AS Roma Femminile, as she begins a new chapter in her professional career with the Italian Serie A women's side.

1 mins

Real Madrid Sign Álvaro Carreras from Benfica on Six-Year Deal

Real Madrid have officially completed the signing of Spanish fullback Álvaro Carreras from Benfica, securing the 22-year-old on a six-year contract that will keep him at the Santiago Bernabéu until June 30, 2031.

1 mins

Trump Hails Messi as World's Biggest Football Star After Club World Cup Final

U.S.President Donald Trump has described Lionel Messi as the biggest football star on the planet, following the Argentine forward's appearance at the 2025 FIFA Club World Cup with Inter Miami.

1 mins

Man United Appoint Darren Fletcher as U-18 Lead Coach

Manchester United have confirmed the appointment of club legend Darren Fletcher as the new lead coach of their Under-18 team, strengthening the Premier League club's commitment to youth development.

1 mins

Juventus Target Super Eagles Midfielder Raphael Onyedika in Summer Move

Italian giants Juventus have set their sights on Raphael Onyedika as a potential midfield reinforcement ahead of the new Serie A season, amid growing transfer activity in Turin.

1 mins

Ronaldo Welcomes Jorge Jesus as New Al-Nassr Manager

Cristiano Ronaldo has expressed excitement over the appointment of veteran Portuguese coach Jorge Jesus as the new manager of Al-Nassr, marking a fresh chapter for the Saudi Pro League side ahead of the 2025/26 season.

1 mins

Nigeria's Hotel Boom: Inside the Surge in Hospitality Investment

Nigeria's hospitality sector is witnessing an unprecedented construction boom, a development that signals investor confidence, post-pandemic economic revival, and a growing appetite for premium accommodation experiences across the country.

6 mins

Read all Stories from The Business NG

The Business NG Description:

Publisher: Tuns-Media-&-Comm-Enterprise

Category: Newspaper

Language: English

Frequency: Weekly

The BusinessNG, a leading business news publication across Nigeria and WestAfrica With a strong team of 30 staff members and a weekly print circulation of over 10,000 copies, we are poised for growth and report all political relating to business news at all level