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The Business NG - May 18, 2025

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In this issue

BusinessNG spotlights the growing importance of fiscal discipline, debt management, and evolving revenue trends across Nigeria’s subnational governments. With a notable rise in Federation Account Allocation Committee (FAAC) disbursements, many states are experiencing improved liquidity positions, allowing them to meet critical obligations and gradually reduce their domestic debt burdens. This development is reshaping the solvency profiles of several states, reinforcing the link between sustained revenue inflows and financial health. Our in-depth analysis explores how state governments are leveraging these allocations to enhance budget performance, prioritize capital expenditures, and implement structural reforms aimed at long-term economic sustainability and fiscal resilience.

Rice Prices to Fall Soon as BUA Battles Hoarders

Abdul Samad Rabiu, chairman of BUA Group, has vowed to bring down the price of rice in Nigeria, warning that those hoarding the staple food will suffer financial losses.

1 mins

Analysts Call for Term Limits for Lawmakers

A growing chorus of political analysts and scholars is calling for constitutional term limits for Nigerian lawmakers, warning that indefinite tenures are eroding legislative effectiveness, encouraging corruption, and stifling democratic accountability.

1 mins

Enugu, Kebbi, Niger Top Nigeria's Most Expensive States - NBS

The National Bureau of Statistics (NBS) has identified Enugu, Kebbi, and Niger States as the most expensive places to live in Nigeria, according to its April 2025 Consumer Price Index (CPI) report released on Thursday.

1 mins

Naira Edges Higher Against Dollar Amid Market Fluctuations

The naira put on a modest show against the US dollar in the foreign exchange market on Friday, despite Nigeria's persistent challenges with economic structure and fundamentals that typically support currency stability.

1 mins

Nigeria PR Week 2025: Uyo to Host Prestigious NIPR Conference

From May 19 to 24, 2025, the Nigerian Institute of Public Relations (NIPR) will convene its flagship event the National Conference and Annual General Meeting (AGM)-as part of Nigeria PR Week. Set to take place at Ceedapeg Hotels in Uyo, Akwa Ibom State, the gathering is expected to reshape the future of public relations in Nigeria and across Africa.

2 mins

Between FCCPC, MultiChoice, and the Revisionist Brigade

A new and troubling trend has emerged in Nigeria's media space. Let's call it the “Pay-As-You-Go Propaganda’ industry—a phenomenon where litigants, after losing in court, engage an army of pseudo-legal analysts, social media influencers, and media mercenaries to rewrite rulings and hoodwink the public.

2 mins

Private Hospitals Bleed as Doctors Flee Nigeria

In this compelling analysis, CLEMENT ASIMATA exposes how Nigeria's worsening brain drain is crippling private hospitals, once considered havens amid failing public healthcare. As top medical talent emigrates in droves, private clinics now grapple with severe staffing shortages, burnout, and declining service quality-leaving millions of Nigerians at risk. The story captures the full extent of the crisis, from overstretched doctors to silent operating theatres, and warns of a looming collapse unless urgent action is taken.

4 mins

Finance Ministry Rewards Top-Performing Staff

The Federal Ministry of Finance has held a Human Resource Award and Recognition Ceremony to honour staff members for their exceptional performance, commitment, and professionalism in public service.

1 mins

FAAC Shares N1.68trn in April Revenue

The Federation Account Allocation Committee (FAAC) has distributed a total of N1.681 trillion among the federal, state, and local governments as revenue allocation for April 2025.

1 mins

Stocks Push Higher as GTCO, ACCESSCORP Dominate Trade Charts

Market eyes 110,000 mark as investor sentiment holds strong despite volume drop

2 mins

LivingTrust Shines with Top Industry Award

LivingTrust Mortgage Bank Plc has emerged as a standout performer in Nigeria's financial sector, clinching the prestigious Development Bank of Nigeria (DBN) Innovation Award for 2024 in the Other Financial Institution category.

1 mins

95% of BDCs Face Closure as CBN's Recapitalization Deadline Nears

With less than a month to the June 3, 2025, recapitalization deadline, more than 95% of Bureau De Change (BDC) operators in Nigeria risk closure as the Central Bank of Nigeria (CBN) prepares to enforce its new capital requirements.

2 mins

Five Leadership Types Nigeria Needs to Thrive - Mutual Benefits CEO

Femi Asenuga, Managing Director and CEO of Mutual Benefits Assurance Plc, outlined the five key leadership styles Nigeria must embrace to compete globally. Speaking at the 15th Annual Lecture Series of Bells University of Technology, Ota, Asenuga emphasized that leadership is crucial to driving innovation and infrastructural development.

1 mins

ICPC, PTAD to Sign MoU to Combat Pension Fraud

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Pension Transitional Arrangement Directorate (PTAD) are set to sign a Memorandum of Understanding (MoU) aimed at curbing fraud and corruption in Nigeria's pension system.

1 mins

Pensioners Demand Action as PTAD Reaffirms Commitment

Despite a fresh pledge by the Pension Transitional Arrangement Directorate (PTAD) to prioritize the welfare of retirees and maintain stakeholder trust, Nigerian pensioners have expressed growing frustration over unpaid arrears, operational inefficiencies, and continued silence on service disruptions.

1 mins

Edun Urges Strategic Use of Pension Funds for Growth

The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has called for the strategic deployment of Nigeria's over 23 trillion pension assets to drive economic development, urging the industry to support national priorities such as infrastructure, housing, and digital inclusion.

1 mins

Experts Push for ECOWAS Brown Card as Digital Motorists' Passport

At the first zonal meeting of the ECOWAS Brown Card Insurance Scheme hosted in Abuja, stakeholders called for the digitisation of the Brown Card to serve as a regional \"digital protection passport\" for motorists.

1 mins

SMES Must Prioritize Insurance Over Funding, Experts Advise

Small and Medium-sized Enterprises (SMEs) form the backbone of Nigeria's economy, contributing nearly half of the nation's GDP with over 40 million businesses. Despite their importance, most SMEs remain uninsured, exposing them to significant risks. According to a 2019 SMEDAN report, only 35 percent of SMEs had any form of business insurance.

1 mins

NGX Sees Robust Growth as All-Share Index Hits 109,710.37

The Nigerian Exchange Limited (NGX) witnessed a significant upswing in its All-Share Index, which rose by 976.97 points, representing a 0.90% week-on-week increase.

1 mins

Naira Gains Marginally as MPC Decision Nears

The naira closed the week with a slight gain against the U.S. dollar at the official foreign exchange market, settling at N1,599.01/$1 on Friday, May 17, according to data from the Central Bank of Nigeria (CBN).

1 mins

Nigeria's FX Reserves Rebound After Months of Decline

Nigeria's foreign exchange reserves have recorded their first sustained increase in 2025, rising by $364 million between April 30 and May 14.

1 mins

Access Bank's Mortgage Loans Hit N289 Billion, Just 2.3% of Total Loans

Access Holding Plc reported mortgage loans totaling about N289.3 billion in Q1 2025, representing only 2.3% of its N12.2 trillion total loan portfolio, according to its interim report on the Nigerian Exchange Group.

1 mins

Top NGX Stocks Hit 52-Week Highs on Bullish Momentum

ABIODUN JIMOH

1 mins

FX Reserves Rebound by $364m in Two Weeks

Nigeria's foreign exchange reserves have recorded their first sustained recovery in 2025, gaining $364 million between April 30 and May 14.

2 mins

Nigeria Invites U.S. Investors to Tap Growing Market

Nigeria is signaling a renewed and determined push to deepen trade and investment ties with the United States, leveraging sweeping reforms to attract American businesses and the Nigerian diaspora.

1 mins

FGN Savings Bond Attracts N4.28bn in May

The Debt Management Office (DMO) has allotted N4.28 billion in Federal Government of Nigeria (FGN) Savings Bonds for May 2025, marking a slight dip from the N4.34 billion raised in April. Despite the minor decline, investor interest in the low-risk instrument remains strong.

2 mins

Custodian Plc Trading Below Value Despite Strong Revenue

Custodian Investment Plc may currently be one of the most undervalued stocks on the Nigerian Exchange (NGX), presenting a potential bargain for investors seeking overlooked opportunities.

1 mins

Ossun State Deputy Speaker Calls for Academic Excellence at OSCO-Health

Deputy Speaker of the Osun State House of Assembly, Rt. Hon. Akinyode Abidemi Oyewusi, has called on students of the Osun State College of Health Technology, Ilesa, to embrace academic excellence as a tool for societal transformation.

1 mins

Zamfara Varsity Secures NUC Accreditation for 28 Courses

Zamfara State University, Talata-Mafara, has secured accreditation for all 28 of its academic programmes from the National Universities Commission (NUC), marking a major milestone for the young institution.

1 mins

JAMB Directs Candidates Who Missed Rescheduled UTME to Raise Support Tickets

The Joint Admissions and Matriculation Board (JAMB) has advised candidates who missed their rescheduled 2025 Unified Tertiary Matriculation Examination (UTME) due to legitimate reasons to formally submit complaints via its official support platform.

1 mins

Lassa Fever Claims 138 Lives in 2025

The Nigeria Centre for Disease Control and Prevention (NCDC) reports that Lassa fever has claimed 138 lives so far in 2025, with a case fatality rate of 19.3 percent—up from 18 percent in the same period last year.

1 mins

FG Denies Repatriation of BEA Scholars

The Federal Ministry of Education has debunked reports suggesting that Bilateral Education Agreement (BEA) scholars studying abroad are being reintegrated into Nigerian universities.

1 mins

FG Commits to Universal Eye Care Access

Dr. Iziaq Salako, Minister of State for Health and Social Welfare, has reaffirmed the Federal Government's dedication to making eye care services accessible to all Nigerians.

1 mins

NPA Launches Clean-Up to Ease Port Congestion, Boost Trade

In a bold move to enhance port efficiency and trade facilitation, the Nigerian Ports Authority (NPA), in collaboration with the Lagos State Government and security agencies, has commenced a three-day large-scale clearance of the Lagos seaports' access corridors.

1 mins

Customs Seizes N1.5bn Contraband, Arrests Four in Lagos

The Federal Operations Unit (FOU) Zone 'A' of the Nigeria Customs Service (NCS) has recorded a major breakthrough in its anti-smuggling efforts, intercepting contraband goods valued at over N1.5 billion and arresting four suspects linked to the illegal trade.

1 mins

Customs Pledges Trade Boost at Idiroko Border

The Ogun I Command of the Nigeria Customs Service has vowed to enhance trade facilitation and ease business activities at the Idiroko-lg-olo border.

1 mins

Customs Rejigs Operation Whirlwind, Deploys 100 New Officers

In a strategic move to boost the fight against petroleum smuggling, the Comptroller General of Customs, Bashir Adewale Adeniyi, MFR, has injected fresh momentum into Operation Whirlwind with the redeployment of 100 new officers.

1 mins

Customs Revenue Hits N1.75tr in Q1 2025 as Tincan Port Surges Ahead

The Nigeria Customs Service (NCS) has recorded a significant boost in revenue generation, raking in 1.75 trillion in the first quarter of 2025.

1 mins

Renaissance Surpasses April Oil Target by 40% in First Month

Renaissance Africa Energy Company Limited, the consortium that acquired Shell’s onshore oil assets in Nigeria, has exceeded its oil production target by 40% in its first month of operations.

1 mins

EU Plans Tariffs on Ukraine Amid Farm Export Tensions

The European Commission is reportedly preparing to reintroduce tariffs on Ukrainian imports, ending the duty-free regime established after the Russia-Ukraine war began, according to the Financial Times.

1 mins

Oil Prices Buoyed Despite Trump's Iran Deal Talk

Bearish signals from former U.S. President Donald Trump's remarks on a potential Iran nuclear deal weighed on oil sentiment this week.

1 mins

Saudi Aramco Strikes $90 Billion in U.S. Energy Deals

Saudi Aramco (TAD-AWUL: 2222) has unveiled 34 preliminary agreements with U.S. energy firms, potentially valued at $90 billion. The announcement was made during former U.S. President Donald Trump's visit to Saudi Arabia.

1 mins

Shell Paid Nigeria $5.34bn in 2024—Highest Among Host Nations

Shell Plc has revealed that it paid $5.34 billion to the Nigerian government in taxes and related charges in 2024—its highest payout to any single country that year.

1 mins

Kwankwaso Denies Defection Rumors, Disowns Viral Statement

Senator Rabiu Musa Kwankwaso, the 2023 NNPP presidential candidate, has denied rumors linking him to a defection to the APC, calling the reports false and politically motivated.

1 mins

APC's Tonye Cole Says Nigeria's Presidential System Is Not Working

Tonye Cole, the Rivers State APC governorship candidate in 2023, has called for Nigeria to reconsider its presidential system of government, saying it does not suit the country's unique political and cultural context.

1 mins

Malami Warns Supporters Against Divisive Talk Ahead of Kebbi 2027

Former Attorney-General Abubakar Malami (SAN) has called on his supporters in Kebbi State to avoid inflammatory and divisive statements as the 2027 elections approach.

1 mins

El-Rufai's 2027 Ambitions Stall as Northwest Politicians Reject SDP

Former Kaduna Governor Nasir El-Rufai faces a political impasse after his defection to the Social Democratic Party (SDP) failed to attract support across Nigeria's Northwest region.

1 mins

SDP Denies Appointing Uba and Gombe to NWC

The Social Democratic Party (SDP) has refuted reports claiming the appointment of Ugochukwu Uba and Dr. Sadiq Abubakar Gombe as members of its National Working Committee (NWC).

1 mins

Wike Vows to Stay in PDP While Working for Tinubu

The Minister of the Federal Capital Territory, Nyesom Wike, has firmly declared he will remain in the Peoples Democratic Party (PDP) even as he serves under President Bola Tinubu’s administration.

1 mins

Osimhen Overrated, Would Struggle in England - Turkish Pundit

Turkish football commentator Omer Urundul has cast doubt on the true quality of Nigerian striker Victor Osimhen, suggesting the forward is benefiting from weak defensive standards in the Turkish Super Lig.

1 mins

EPL: I've Family - De Bruyne Hints at Staying in England After Man City Exit

Manchester City midfielder Kevin De Bruyne has opened the door to continuing his career in the Premier League even after his departure from the Etihad at the end of the season.

1 mins

Ancelotti Congratulates Barcelona. Warns of

Departing Real Madrid manager Carlo Ancelotti has congratulated Barcelona on their LaLiga title triumph but warned that next season will bring a different challenge.

1 mins

Gateway Games 2024: Governor Abiodun Announces Cash Rewards for Ogun Athletes

Ogun State Governor, Prince Dapo Abiodun, has announced a series of cash rewards to motivate and appreciate athletes representing the state at the Gateway Games 2024.

1 mins

Moses Simon Shines as Nantes Survive Relegation Battle

Moses Simon ended the Ligue 1 season on a high note, scoring a goal and providing an assist to help Nantes secure a crucial 3-0 victory over Montpellier in their final game of the 2024/25 campaign.

1 mins

Abiodun performs Ground Breaking of Abeokuta Polo Club.

Governor of Ogun State, Prince Dapo Abiodun has performed the monumental Ground Breaking Ceremony of the Abeokuta Polo Club.

2 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