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The Business NG - July 04, 2025

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En este número

Editorial focus for BusinessNG dated July 4, 2025:

Nigeria’s bold economic reforms have earned a ringing endorsement from the IMF in its latest 2025 Article IV Consultation report. The Fund lauded the Tinubu administration and the Central Bank of Nigeria (CBN) for major structural measures—ending fuel subsidies, halting deficit monetisation, and overhauling the FX market—which collectively improved macroeconomic stability and bolstered investor confidence .

Growth is projected at a modest 3.4% for 2025, while inflation eased from 31% in 2024 to roughly 23–23.7% by April–May 2025, thanks to tight monetary policy and FX interventions . The naira has stabilised, with FX rates converging and reserves rising—signs of effective price discovery and liquidity improvement .

Still, the IMF cautions that persistent oil price swings, FX volatility, and external risks threaten to derail progress. It calls for prudent fiscal adjustments, robust FX intervention frameworks, and scaled‑up social safety nets to protect the vulnerable .

As Nigeria charts its course towards inclusive growth, it must safeguard momentum by deepening reforms, reinforcing fiscal resilience, and adopting agile, data-driven policies—especially in FX and social protection.

Benue Crisis Draws Global Attention, Says UN, US Delegation

A joint delegation from the United Nations High Commissioner for Refugees (UNHCR) and the United States Congress has declared that the ongoing humanitarian crisis in Benue State is under close watch in Washington, D.C.

1 mins

Wike's Intervention Set to End FCT Teachers' Strike

Relief may be on the horizon for parents and pupils in the Federal Capital Territory (FCT) as the three-month-long strike by primary school teachers is expected to end following the intervention of FCT Minister, Nyesom Wike.

1 mins

US Consulate, Ogun Partner on ICT Innovation, Launch 'Window on America'

The United States Consulate in Nigeria has partnered with the Ogun State Government to launch a new digital empowerment initiative, Window on America, aimed at bridging local talent with global opportunities through Information and Communication Technology (ICT).

1 mins

Internet Providers lament as Nigerians Cut Internet Spending

Top Internet Service Providers (ISPs) in Nigeria, including Starlink and Spectranet, have experienced a sharp drop in their subscriber numbers as Nigerians tighten spending on data services amid rising living costs.

1 mins

Vaping in Nigeria: Green Outside, Deadly Within

When, during the 1920s, the American public began to identify smoking as the cause of their persistent cough, throat irritation, and other related diseases, tobacco companies - fearing a threat to their profits - began a devious media blitz. Using mostly models who posed as doctors, they falsely claimed that cigarettes were harmless or that some cigarette brands were less harmful than others.

5 mins

Zenith Bank Tops Nigeria's Tier-1 Rankings-Again

Zenith Bank Plc has retained its crown as Nigeria's number one bank by Tier-1 Capital for the 16th consecutive year, solidifying its dominance in the country's financial sector.

1 mins

Stanbic Sees Rate Cuts as Inflation Eases

Stanbic IBTC Bank has projected a 150 to 200 basis point cut in Nigeria’ interest rates in 2025, with further reductions expected in 2026. The banks latest Purchasing Managers’ Index (PMI) report cites softening inflation and key structural reforms as the main drivers of this outlook.

1 mins

Bank Stocks Power NGX Rally as Q2 Buzz Builds

Nigerian bank stocks are driving a bullish rally on the Nigerian Exchange (NGX), pushing the All Share Index (ASI) up 0.58% in intraday trading, as investor confidence swells ahead of second-quarter earnings season.

1 mins

GTCO Targets Global Investors with London Listing

Guaranty Trust Holding Company Plc (GTCO) is taking a bold step onto the global stage with its newly announced listing on the London Stock Exchange (LSE)-a strategic move designed to unlock foreign capital, elevate investor confidence, and strengthen its global brand.

1 mins

ECOWAS Bank Unleashes €174m, $125m for Regional Growth

The ECOWAS Bank for Investment and Development (EBID) has approved €174 million and $125 million in fresh funding to drive infrastructure, trade, and social development projects across West Africa.

1 mins

Experts Urge Nigeria to Diversify Pension Investments into Infrastructure, Clean Energy

British and Chilean experts have urged Nigeria to strategically channel a portion of its over §19 trillion pension fund assets into alternative investments such as infrastructure, clean energy, and logistics to deepen impact and foster national development.

1 mins

Cornerstone Backs CIIN’s Insurance Week Drive

Cornerstone Insurance Plc has thrown its weight behind the maiden edition of Insurance Week, organised by the Chartered Insurance Institute of Nigeria (CIIN), in a move aimed at deepening insurance awareness and education across the country.

1 mins

Coronation Joins CIIN Walk to Promote Insurance Awareness

Coronation Insurance Plc and Coronation Life Assurance Limited have reinforced their commitment to insurance education by actively participating in the 2025 Insurance Awareness Walk, organised by the Chartered Insurance Institute of Nigeria (CIIN).

1 mins

PenCom Eyes Tougher Sanctions in Pension Law Review

The National Pension Commission (PenCom) has announced plans to prioritize strict compliance in the upcoming review of the Pension Reform Act (PRA) 2004.

1 mins

Pension Fund Assets Hit N23.56trn in April as PFAs Eye Higher-Yield Investments

Nigeria's pension fund assets rose to N23.56 trillion in April 2025, up from N23.33 trillion in March-marking a 1.40% month-on-month growth, according to the National Pension Commission (PenCom).

1 mins

FG Unveils Flood Insurance Scheme to Shield Nigerians from Climate Shocks

The Federal Government has launched a National Flood Insurance Policy (NFIP) to provide financial protection for individuals, businesses, and communities increasingly devastated by floods across the country.

1 mins

Wema Bank, Aradel Replace Conoil, Julius Berger in NGX 30 Index

The Nigerian Exchange Limited (NGX) has announced changes to several of its indices following the completion of its 2025 half-year (H1) review, with Aradel Holdings and Wema Bank replacing Conoil and Julius Berger in the prestigious NGX 30 Index.

1 mins

Reps Launch Probe into Nigeria's €1.2m Unpaid Dues to OACPS

The House of Representatives has resolved to investigate Nigeria’s €1.2 million outstanding financial obligation to the Organisation of African, Caribbean, and Pacific States (OACPS), raising concerns over potential sanctions and damage to Nigeria's international reputation.

1 mins

Conoil's Profit Slumps 93% as Debt Surpasses Equity

Conoil Plc's Q1 2025 results paint a troubling picture.

1 mins

SEC Warns Nigerians: Value Growth Platform Is Likely a Ponzi Scheme

The Securities and Exchange Commission (SEC) has issued a public alert against Value Growth Platform, an online investment outfit it describes as a suspected Ponzi scheme masquerading as a legitimate financial service provider.

1 mins

Market Cap Dips N150bn as Dangote Stocks Drag NGX

The Nigerian Exchange (NGX) closed in the red on Monday, shedding over 150 billion in market capitalisation as major stocks led by Dangote Cement and Dangote Sugar Refinery slumped.

1 mins

Africa's Beating Economic Pulse

Nigeria's private sector showed resilience in H1 2025, driven by improved purchasing activity, stable exchange rates, and easing inflation. According to economic analyst ABIODUN JIMOH, despite lingering challenges such as high fuel costs and insecurity, business confidence remained upbeat, supported by government reforms and a favourable monetary environment.

4 mins

PDP Crisis Deepens as ADC Rises

The Peoples Democratic Party (PDP) is once again battling internal upheaval after its National Executive Committee (NEC) reaffirmed Senator Samuel Anyanwu as acting National Secretary—a decision that has drawn sharp rebuke from former Vice President Atiku Abubakar’s camp. Accusing the ruling APC of engineering the move to destabilize the opposition, Atiku’s allies warn that the PDP may be walking into a political trap. As Nigeria’s 2027 election looms and a new ADC-led coalition emerges, the party faces what could be its most defining moment yet. This report is by Segun Awoniyi, political analyst and columnist.

6 mins

Experts Warn of Health Crisis from Excess Salt, Demand Food Label Reforms

Nigeria is facing a growing public health crisis driven by excessive sodium consumption, which medical experts say is fueling a surge in hypertension, stroke, and heart disease.

1 mins

Lassa Fever Kills 145 Nigerians in 2025, Ondo Leads Outbreak

The Nigeria Centre for Disease Control and Prevention (NCDC) has confirmed 145 deaths from Lassa fever so far in 2025, with 766 cases confirmed out of 5,678 suspected infections across 18 states.

1 mins

Kwara Rallies Youth in Drug-Free Walk, Warns Offenders

The Kwara State Government has intensified its anti-drug abuse campaign with a drug-free endurance walk held in Ilorin to mark World Drug Day 2025, warning that substance abuse poses a major threat to societal peace and development.

1 mins

Kogi Poly Expels 273 Students Over Poor Results, Exam Fraud

The management of Kogi State Polytechnic, Lokoja, has withdrawn 273 students over poor academic performance, while six others have been expelled for involvement in examination malpractice, the institution announced on Monday.

1 mins

UN: Global Drug Use Surges to 316m, Cocaine Market Expands Fastest

A new United Nations report has revealed a dramatic rise in global drug use, with 316 million people—roughly 6% of the world’s population aged 15-64—using drugs in 2023.

1 mins

Obi Slams FG Over School Strike, Says Infrastructure Can't Replace Education

Former Labour Party presidential candidate, Peter Obi, has criticised the federal government for prioritising infrastructure upgrades in the Federal Capital Territory (FCT) while thousands of public primary school pupils remain out of school due to a prolonged teachers' strike.

1 mins

TCAN to hold second Transportation Summit in Lagos

The Transportation Correspondents Association of Nigeria (TCAN) is set to hold its 2025 Transportation Summit, an annual event that provides a platform for stakeholders' interaction on pertinent issues affecting the nations transportation sector.

1 mins

Apapa Customs Urges Freight Agents to Embrace Health Checks, NAGAFF Demands Honest Declarations

The Nigeria Customs Service (NCS), Apapa Command, has appealed to freight agents and customs brokers to prioritize their health by undergoing regular medical checkups, even as the National Association of Government Approved Freight Forwarders (NAGAFF) stressed the need for transparency in cargo declarations.

1 mins

Apapa Customs Rakes in N1.3 Trillion in H1 2025

The Nigeria Customs Service (NCS), Apapa Area Command, has generated an impressive N1.378 trillion in revenue between January and June 2025, marking one of the highest half-year collections in its history.

1 mins

Carloha Supports Lifemate Anniversary with Tiggo 8 Pro

Lifemate Furniture’s 19th anniversary celebration came to a thrilling climax as one lucky shopper won a brand-new Chery Tiggo 8 Pro SUV, courtesy of Carloha Nigeria.

1 mins

Ibadan Electricity DisCo Sold for N100 Billion – AMCON

The Ibadan Electricity Distribution Company (IBEDC) has been sold for N100 billion, the Asset Management Corporation of Nigeria (AMCON) announced on Thursday.

1 mins

Ogun Assembly Begins Mid-Year Budget Review July 21

The Ogun State House of Assembly will commence its midyear budget performance appraisal on Monday, July 21, 2025, as part of its consti-

1 mins

Bauchi Fulani Community Rejects Proposed Emirates, Warns of Ethnic Tensions

The Fulani community in Bauchi State, under the banner of Daddo Pulāku and allied Fulani associations, has firmly rejected the state government's proposal to create new Emirates, Chiefdoms, and Districts, warning that such moves could ignite ethnic tensions.

1 mins

Industry Leaders Back NCDMB, Reject Claims Local Content Raises Costs

At the just-concluded NOG Energy Week in Abuja, leading figures in Nigeria's oil and gas sector came out strongly in defence of the country’s local content policy, debunking widespread claims that it inflates operational costs.

2 mins

Kebbi PDP Backs Coalition to Oust APC in 2027

The Peoples Democratic Party (PDP) in Kebbi State has announced its willingness to join forces with other political parties in a grand coalition aimed at removing the ruling All Progressives Congress (APC) from power in the 2027 general elections.

1 mins

Amaechi Dares Wike to Popularity Test, Says 'He Doesn't Respect Me

Former Minister of Transport and ex-Governor of Rivers State, Rotimi Amaechi, has challenged the Minister of the Federal Capital Territory (FCT), Nyesom Wike, to a public test of popularity, accusing him of disrespect and political ingratitude.

1 mins

Paul Onuachu Gets Hero's Welcome Ahead of Trabzonspor Return

Nigerian striker Paul Onuachu received a rousing welcome from fans and club officials upon his arrival in Turkey on Wednesday night, as he prepares to seal a permanent move to Trabzonspor.

1 mins

Nani Dismisses Gyokeres Strike Rumours Amid Arsenal, Man Utd Links

Former Sporting CP star Nani has downplayed reports that striker Viktor Gyokeres is planning to go on strike to force a move away from the club amid transfer interest from Arsenal and Manchester United.

1 mins

Piers Morgan Mourns Diogo Jota's Tragic Death in Spain Crash

Tributes are pouring in following the shocking death of Liverpool and Portugal forward Diogo Jota, who died alongside his brother, Andre, in a car accident in Zamora, Spain.

1 mins

Alanyaspor Sign Nigeria's Uchenna Ogundu on Three-Year Deal

Turkish Super Lig side Alanyaspor have officially announced the signing of Nigerian teenage striker Uchenna Ogundu on a three-year contract.

1 mins

Osimhen Awaits Manchester United Move as Summer Decision Looms

Napoli forward Victor Osimhen is reportedly on Manchester United's summer transfer radar, with the Nigerian international now said to be awaiting word from England on his next move.

1 mins

Sinclair Slams Chelsea Over Potential Madueke Sale to Arsenal

Former Chelsea defender Frank Sinclair has cautioned the Blues against what he describes as a \"crazy mistake\"—selling winger Noni Madueke to London rivals Arsenal during the summer transfer window.

1 mins

NGX Banks on Dangote Fertiliser to Power Market Revival

The Nigerian Exchange Group (NGX Group) is gearing up for what could become the most significant listing on the Nigerian capital market in years: Dangote Fertiliser Limited.

5 mins

Lea todas las historias de The Business NG

The Business NG Description:

Editor: Tuns-Media-&-Comm-Enterprise

Categoría: Newspaper

Idioma: English

Frecuencia: 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