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The Business NG - May 21, 2025

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In this issue

BusinessNG’s editorial focus underscores Nigeria’s evolving macroeconomic landscape, with particular attention to foreign exchange liberalisation and recent monetary policy shifts. These reforms are central to efforts aimed at stabilising financial markets, curbing inflation, and attracting much-needed foreign direct investment. By analysing the policy direction of the Central Bank of Nigeria and fiscal strategies of the federal government, BusinessNG offers in-depth insights into how these changes are restoring investor confidence and laying the groundwork for long-term economic resilience. The platform seeks to inform stakeholders on the implications of these reforms for businesses, households, and the broader economic outlook.

NASS Moves to Amend Pension Reform Act 2014 to Boost Retiree Benefits

The National Assembly is set to amend the Pension Reform Act (PRA) 2014, with plans to enhance retirement benefits and address emerging sector challenges.

1 mins

WHO to Slash Workforce, Halve Departments Amid Funding Cuts

The World Health Organization (WHO) has announced plans to reduce its workforce and cut the number of departments from 76 to 34 due to financial constraints.

1 mins

JAMB to Release 379,000 UTME Resit Results Wednesday

The Joint Admissions and Matriculation Board (JAMB) will release the results of 379,000 candidates who sat the rescheduled UTME on Wednesday, May 21, 2025.

1 mins

NIPOST Expands into Banking as Revenue Tops N10 Billion

The Nigeria Postal Service (NIPOST) is expanding its operations into financial services, leveraging its renewed International Money Transfer Operator (IMTO) and Super Agent licenses.

1 mins

Explosion Rocks Alake Sports Centre at Gateway Games

There was chaos on Tuesday at the Alake Sports Complex, ljeja, Abeokuta, Ogun State, one of the key venues for the ongoing 2024 National Sports Festival, after a gas explosion occurred.

1 mins

The urgency of an emergency

For Nigeria, the housing crisis is a ticking time bomb, threatening the very fabric of society.

4 mins

CIBN Reaffirms Sector Stability, Deepens Inclusive Reforms

The Chartered Institute of Bankers of Nigeria (CIBN) has reaffirmed the resilience of the Nigerian banking sector, while spotlighting bold steps taken under its current leadership to promote inclusivity across gender, age, and regions.

1 mins

Wale Edun: Nigeria's Capital Market Crucial to $1 Trillion Economy Goal by 2030

The Federal Government has identified Nigeria's capital market as a vital driver for achieving a $1 trillion economy by 2030. Speak-ing at the 2025 First Capital Market Committee Meeting hosted by the Securities and Exchange Commission (SEC) in Lagos, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, urged stakeholders to deepen investor confidence, improve financial literacy, and prepare for the rollout of the Investment and Securities Act (ISA) 2025 alongside the new Capital Market Master Plan (CMMP 2030).

1 mins

National Assembly Inserts N6.93tn of Dubious Projects into 2025 Budget, BudgIT Alleges

BudgIT, a civic tech organisation advocating for public finance transparency, has uncovered the insertion of 11,122 projects valued at N6.93 trillion into Nigeria's 2025 budget by the National Assembly. This revelation raises serious concerns about political manipulation and fiscal irresponsibility.

1 mins

Cardoso: Nigeria's Economy Stable

Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, says Nigeria's economy is now stable, with growing investor confidence reflecting the improving macroeconomic environment.

1 mins

CBN Denies Fidelity Bank Bankruptcy Rumors Amid Supreme Court Ruling

The Central Bank of Nigeria (CBN) has dismissed circulating claims on social media suggesting that Fidelity Bank is bankrupt.In a statement released Monday, the CBN reaffirmed that Nigeria's banking sector remains resilient, safe, and sound.

1 mins

NASS to Review Pension Reform Act 2014 for Improved Retirement Benefits

The House Committee on Pensions, led by Chairman Hussaini Jalo, has announced plans to amend the Pension Reform Act (PRA) of 2014. This move aims to address evolving challenges in Nigeria's pension sector.

1 mins

Long-Term Life Insurance: Unlocking Nigeria's Retirement Security

Nigeria’s pension system has come a long way since the 2004 Pension Reform Act, with assets swelling to over N23 trillion by 2024. Yet, many Nigerians—especially in the informal sector—still face uncertainty in retirement. As the country’s elderly population grows, experts are spotlighting long-term life insurance as a crucial, but underused, solution to boost retirement income.

1 mins

CIIN Releases April 2025 Examination Results with Improved Pass Rate

The Chartered Insurance Institute of Nigeria (CIIN) has officially announced the release of the results for the April 2025 Diet examination.

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

NEM Breaks Record with Over N100bn GPI, Pays N25bn in Claims, Posts N33.7bn Profit

NEM Insurance Plc has made history as the first non-life insurer in Nigeria to surpass N100 billion in gross premium income (GPI), marking a major milestone in the nation's insurance industry.

1 mins

Heirs Insurance Group Wins Insurance Company of the Year Award

Heirs Insurance Group, Nigeria's fastest-growing insurance Group, has won the prestigious award of Insurance Company of the Year at the 2024 Industry Awards.

1 mins

Funding Rates Hold as OMO Inflows Loom

Nigerian short-term interest rates remained broadly stable on Monday as the money market braced for a significant liquidity injection from maturing Open Market Operation (OMO) bills totaling approximately ₦1.14 trillion.This anticipated inflow, due Tuesday, is expected to ease existing tight liquidity conditions, offering a buffer against funding

1 mins

UBA, GTCO Lead Dividend Stocks in 2025

Investors looking for income-generating assets are finding value in a range of high-yield dividend stocks listed on the Nigerian Exchange.

2 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

NASD OTC Index Inches Up 0.13% as Market Sees Modest Activity

The NASD Over-the-Counter (OTC) Securities Exchange sustained a positive momentum on Tuesday, with the NASD Securities Index (NSI) rising by 0.13% to close at 3,154.56 points, up from 3,150.49 points in the previous session.

1 mins

FGN Bond Yield Hits 19.06% Before MPC

The average yield on Federal Government of Nigeria (FGN) bonds climbed to 19.06% in the secondary market as investors adopted a wait-and-see approach ahead of the Central Bank’s Monetary Policy Committee (MPC) decision.

1 mins

NESTLE, UNILEVER Drive Marginal NGX Gain as Investors Pocket N20.51bn

The Nigerian Exchange (NGX) closed slightly higher on Tuesday, erasing losses from the previous session.

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

No One Can Defeat Tinubu Without Peter Obi - Sam Amadi

Sam Amadi, former NERC chairman and political analyst, has asserted that defeating President Bola Tinubu in the 2027 election is impossible without Peter Obi's involvement.

1 mins

2027: North West People, Not Politicians, Will Decide - Baba Ahmed

Dr. Hakeem Baba-Ahmed, former Special Adviser to President Tinubu, stated that the people of Nigeria's North West will ultimately judge political leaders in the 2027 elections based on issues like violence, poverty, and insecurity.

1 mins

Nigeria, Benin Launch SIGMAT to Curb Trade Malpractices on West Africa Corridor

Nigeria Customs Service and Benin Republic Customs have launched SIGMAT, a digital platform designed to combat smuggling and trade fraud along the Nigeria-West Africa trade corridor.

1 mins

Customs CG Directs 50% Cut in Physical Inspections, Pushes Digital Modernisation

The Comptroller General of Customs, Adewale Adeniyi, has ordered the Nigeria Customs Service to reduce physical container inspections at ports by at least 50% before the end of the third quarter of 2025.

1 mins

CGC Adeniyi Commissions Seme Facilities, Highlights Merit

The Comptroller-General of the Nigeria Customs Service (NCS), Bashir Adewale Adeniyi, on Monday commissioned several new welfare and administrative facilities at the Seme Area Command, including the Customs Officers' Wives Association (COWA) Office, a Senior Officers'Mess, and a gymnasium.

1 mins

OPEC Bets on Slowing Non-OPEC Supply to Balance Oil Market

In its May monthly report, the Organization of the Petroleum Exporting Countries (OPEC) maintained its 2025 global oil demand growth

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.

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

Nonye Soludo's Compassionate Leadership Earns Public Praise in Anambra

Anambra State's First Lady, Mrs. Nonye Soludo, is receiving widespread commendation for her community-focused initiatives and compassionate style of public service, which residents say is setting a new standard for leadership in the state.

1 mins

Dangote Refinery Pledges Petrol Price Stability Despite Rising Crude Costs

Dangote Petroleum Refinery & Petrochemicals has reaffirmed its commitment to maintaining stable petrol prices in Nigeria, even as global crude oil prices continue to rise.

1 mins

IFC Forum: African Private Sector Leaders Urge Integrated Value Chains for Sustainable Growth

Private sector leaders, investors, and policymakers have called for the creation of integrated value chains and inclusive business models as key drivers of Africa's long-term economic growth, during the IFC 2025 African Equity Forum held in Lagos.

1 mins

NSF remains beacon of Unity - Obasanjo

•Eulogisizes 22nd edition of festival •Says sports transcend politics, language barriers

1 mins

Flying Eagles Win Bronze at U-20 AFCON

Nigeria's Flying Eagles have returned to the country after a commendable performance at the 2025 Africa U-20 Cup of Nations held in Egypt. The young Nigerian team, coached by Aliyu Zubairu, clinched the bronze medal by beating the host nation's U-20 team, the Young Pharaohs, 4-1 on penalties in a thrilling third-place playoff match.

1 mins

Cundy Backs Palmer as Chelsea's Striker vs Forest

Former Chelsea star Jason Cundy has called on Chelsea manager Enzo Maresca to bench Tyrique George for the club's final Premier League game of the season against Nottingham Forest.

1 mins

Shearer Backs Spurs to Win Europa League Final

Former Newcastle United striker Alan Shearer has tipped Tottenham Hotspur to defeat Manchester United in the highly anticipated Europa League final set for Wednesday at the Athletic Bilbao Stadium.

1 mins

Barcelona Set to Give Messi's No. 10 Shirt to Lamine Yama

Barcelona are set to usher in a new chapter by handing teenage sensation Lamine Yamal the club’s legendary No. 10 shirt, previously worn by Lionel Messi.

1 mins

Farioli to Replace Maresca if Chelsea Misses Champions League

Chelsea is reportedly ready to replace current manager Enzo Maresca with Ajax’s outgoing coach Francesco Farioli if the club fails to qualify for the Champions League next season.

1 mins

Iwobi Opens Up on Arsenal Exit

Former Arsenal and Nigeria international Alex Iwobi has opened up about his surprising departure from the Gunners in 2019, revealing that he had mixed feelings about the move but ultimately does not regret it. Speaking to Inside Scoop, Iwobi explained that the

1 mins

Inflation Eases, Doubts Linger

Nigeria's headline inflation rate climbed to 24.69% in April 2025, according to the latest figures released by the National Bureau of Statistics (NBS), reflecting persistent upward pressure on the cost of living despite a marginal deceleration in the monthly rate of increase. The April figure marks a modest rise from 24.23% recorded in March, underscoring the continued strain on households and businesses across the country.

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