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The Business NG - July 07, 2025

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En este número

BusinessNG Editorial Focus – July 7, 2025
Headline: FX Access Restored, Trust Still Missing

The recent resumption of international transactions on naira-denominated cards by several Nigerian banks has sparked a wave of public reaction—ranging from cautious optimism to lingering skepticism. While the move signals a level of stability returning to the foreign exchange market, it also underscores the deep trust deficit that exists between financial institutions, policymakers, and the Nigerian public.

After months of FX restrictions, the restoration of dollar access is a welcome relief for businesses, students, and frequent travelers. However, many Nigerians remain unconvinced that the Central Bank of Nigeria’s (CBN) reforms are sustainable. Memories of abrupt policy reversals, liquidity crunches, and inconsistent communication continue to haunt stakeholders.

This development highlights a core challenge for the CBN: credibility. Confidence cannot be rebuilt solely through temporary measures or market interventions. It requires a long-term commitment to transparency, policy consistency, and structural reforms that go beyond exchange rate management.

As FX flows improve and banks regain the capacity to support international transactions, the CBN must seize the moment to rebuild trust. Without it, the benefits of reform will be undermined by fear, hesitation, and the shadow of past failures. Nigeria needs stability—not just in its currency, but in its institutions.

Nigeria Targets Return of Foreign Students, Invests N75bn in Campus Power – TETFund Boss

75 Billion Allocated to Solve Power Crisis in School

2 mins

Atiku Vows Anti-Graft War as 2027 Bid Takes Shape

Former Vice President Atiku Abubakar has reignited political speculation about a 2027 presidential run, issuing a stern warning to corrupt public officials and pledging a zero-tolerance policy on graft if elected president.

1 mins

Investor Optimism Lifts NGX by 0.83% Despite Delisting Shock

The Nigerian Exchange (NGX) sustained its positive momentum into the first trading week of July 2025, as equities investors added N377.26 billion in value to their portfolios.

1 mins

Tola Adeniyi: A life of words and wisdom

As we reflect on the life and legacy of Tola Adeniyi, a man whose words have inspired and challenged generations, we are reminded of the power of journalism and literature to shape our understanding of the world and our place within it.

1 mins

Middle East: When will the wars end?

The Middle East has been a hotbed of conflict for decades, with wars and skirmishes erupting over issues like land, borders and rights. Over the decades, the region has become a complex web of alliances, rivalries, and power struggles, with global powers like the United States, the UK, France, China and Russia pursuing their own interests and agendas. Regional players like Qatar and Turkey have also been vying for influence, with some making efforts to broker peace deals.

3 mins

Customs Intercepts N172.9m Cannabis Haul, Hands Over Seized Drugs to NDLEA

In a major anti-smuggling breakthrough, the Nigeria Customs Service (NCS), Ogun 1 Area Command, has intercepted a truckload of cannabis sativa valued at 172.92 million, handing the contraband over to the National Drug Law Enforcement Agency (NDLEA) for prosecution and further investigation.

1 mins

Adeniyi's WCO Victory Excites Maritime Journalists

The Network of Nigerian Maritime Journalists (NNMJ) has celebrated the election of Comptroller-General of Customs, Adewale Adeniyi, as Chairperson of the World Customs Organization (WCO), calling it a historic win for Nigeria and the global customs community.

1 mins

Seme Customs Seeks Stakeholder Backing to Boost Border Securities

In a bid to tighten security across Nigeria's western border corridor and enhance stakeholder collaboration, the Nigeria Customs Service (NCS), Seme Area Command, has embarked on strategic visits to cultural and media institutions in Lagos.

1 mins

First Nigerian-Owned Container Vessel Docks in Lagos

In a landmark moment for Nigeria's maritime sector, the Nigerian Ports Authority (NPA) has welcomed the country's first wholly Nigerian-owned container vessel, MV Ocean Dragon, which berthed at a Nigerian port on July 2, 2025.

2 mins

Dr. Mustapha Calls Out Untrained Agents, Faults Policy Confusion, and Praises CRFFN, Customs

Renowned freight forwarder and logistics expert, Dr. Azeez Abayomi Mustapha, has urged the Federal Government to enforce regular training for freight forwarders, warning that widespread unprofessional conduct is damaging the reputation and efficiency of Nigeria's port industry.

1 mins

Naira Inches Toward N1,500 Breakout as Banks Restore FX Card Access

The Nigerian Naira is edging closer to a key psychological threshold, trading at N1,528/$ on Friday in the official market, just shy of breaking the N1,500/$ resistance level.

2 mins

IMF Warns Nigeria: Adjust Budget to Match Oil Price Reality

The International Monetary Fund (IMF) has urged the Nigerian government to revise its 2025 national budget in line with current global oil market realities.

1 mins

GTCO Makes History with Landmark London Stock Exchange Listing

Guaranty Trust Holding Company Plc (GTCO) has made history as the first financial services institution in West Africa to list its ordinary shares on the main market of the London Stock Exchange (LSE).

1 mins

Dollar Surges as Strong U.S. Jobs Data Sends Sterling, Euro Sliding

The U.S. dollar rallied on Thursday, sending both the British pound and the euro into retreat following a stronger-than-expected U.S. jobs report that renewed market confidence in the American economy.

1 mins

Pension Stocks Shine as Oil Drags NGX in H1 2025

The Nigerian Exchange (NGX) wrapped up the first half of 2025 with a mixed performance across its major indices, as investors weighed economic headwinds against safe-haven opportunities in blue-chip stocks.

1 mins

Nigeria's New Pension Remittance Regime Takes Off with Strong Early Performance

The recently launched pension remittance framework under the Contributory Pension Scheme (CPS) has recorded strong initial success, with increased compliance by employers and growing enthusiasm among workers across the public and private sectors.

1 mins

Insurance Embraces Tech for the Future

Top Insurance Leaders Applaud IMT for Driving Tech Revolution in Nigerian Industry

2 mins

Sanusi Named 2025 Insurance Ambassador

IIN Crowns Sanusi Muheez Ishola as Nigeria's Insurance Ambassador for 2025/2026

1 mins

NDIC Opens Nationwide Auction of Defunct Bank Properties

In a decisive move to recover funds from failed financial institutions, the Nigeria Deposit Insurance Corporation (NDIC) has announced the commencement of public auctions for landed properties belonging to three defunct banks: Fortune Bank, United Commercial Bank, and Heritage Bank, all currently in liquidation.

1 mins

Nigeria's Corporate Giants Post Record N8.2 Trn Profits in 2024

Despite operating under the weight of high inflation, foreign exchange volatility, and weak consumer demand, Nigeria's top companies defied the odds in 2024—posting a record-breaking ₦8.19 trillion in combined profits.

1 mins

NGX Closes Week on Flat Note as ASI Rises Marginally Despite N244bn Loss

The Nigerian equities market ended the trading week on a subdued note Friday, July 4, 2025, with the All-Share Index (ASI) posting a marginal gain of 0.01%.

2 mins

Nigerian Stock Market Gains 16.57% in H1 2025 Amid Sector Rotation, Policy Headwinds

Nigeria's capital market delivered a resilient performance in the first half of 2025, with the benchmark Nigerian Exchange All Share Index (NGXASI) gaining 16.57% year-to-date (YTD), rising from 102,926.40 points at the start of the year to close at 119,978.57 points. The strong showing reflects renewed investor confidence, driven by solid corporate earnings, sector-specific rallies, and a steady stream of regulatory update

2 mins

NASD OTC Index Rises 0.20% as Investors Gain N18m

The NASD Over-the-Counter (OTC) Securities Exchange closed on a positive note on Friday, with the NASD Securities Index (NSI) advancing by 0.20% to finish at 3,398.64 points, up from 3,392.00 recorded the previous day.

1 mins

JAPAULGOLD, GTCO Lead Market in Volume and Value Trades

Trading activity on the Nigerian Exchange saw JAPAULGOLD emerge as the most active equity by volume, contributing 15.92% of the total shares traded.

1 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

Edo Confirms Dengue Fever Outbreak, Records 86 Cases

The Edo State Government has confirmed an outbreak of dengue fever, with 86 cases reported across several local government areas in the state.

1 mins

UniJos ASUU Declares Indefinite Strike Over Unpaid June Salary

The University of Jos chapter of the Academic Staff Union of Universities (ASUU) has embarked on an indefinite strike over the nonpayment of June salaries to its members.

1 mins

Moses Orshio Adasu University Matriculates 9,991 Freshers

The Reverend Father Moses Orshio Adasu University, Makurdi, has matriculated 9,991 new students during its 32nd Matriculation Ceremony held at the New Convocation Square on Friday, July 4, 2025.

1 mins

Diarrhoea Outbreak Hits Kaduna School, 81 Students Affected

An outbreak of diarrhoea has affected 81 students at the Government Girls Senior and Junior Secondary School in Kawo, Kaduna State, prompting swift medical and public health responses from state authorities.

1 mins

209 Students Earn First Class at Dutse Varsity

A total of 209 students will graduate with First Class degrees from the Federal University Dutse (FUD) during its combined 8th and 9th convocation ceremony for the 2022/2023 and 2023/2024 academic sessions.

1 mins

Pharmacists Raise Alarm: Half of Drugs in Nigeria Are Fake

The Association of Community Pharmacists of Nigeria (ACPN) has issued a grave warning to Nigerians, revealing that over 50% of drugs currently in circulation across the country are fake or substandard.

1 mins

Venezuela Leans Heavily on China as Sanctions Bite

Sanctions-hit Venezuela is increasingly turning to China to sustain its oil lifeline, as U.S. pressure mounts under the Trump administration’s snapback sanctions.

1 mins

US Oil Drilling Slows as Industry Sentiment Sours

Oil and gas drilling in the United States is losing steam amid growing market uncertainty, with business activity turning negative in Q2 2025, according to the latest Dallas Fed Energy Survey.

1 mins

India Eyes Major Boost to Oil Reserves with New Strategic Sites

India is moving to more than double its current strategic petroleum reserves (SPR) as it embarks on feasibility studies for the construction of three new storage sites. The move comes amid growing global energy uncertainty and the country’s desire to shield itself from external supply shocks.

1 mins

Oil Slips Ahead of OPEC+ Talks, Tariff Deadline Looms

As trading slowed on Friday, July 4, 2025, due to the U.S. Independence Day holiday and record-high domestic travel—with over 72 million Americans on the move—oil prices edged lower in thin market conditions.

1 mins

FG Convenes Petrol Price Forum Amid Soaring Costs and Deregulation Tensions

In a bid to address growing concerns over petrol pricing and supply volatility in Nigeria's downstream sector, the federal government has scheduled a two-day national stakeholders forum for July 23 and 24, 2025, to establish clear petrol pricing guidelines in the post-subsidy era.

2 mins

NNPCL Cuts Petrol Price to N910 Amid Industry-Wide Reductions

The Nigerian National Petroleum Company Limited (NNPCL) has slashed the pump price of premium motor spirit (petrol) at its retail outlets to N910 per litre, down from the previous price of N945, marking a N30 reduction.

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

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 constitutional oversight responsibilities.

1 mins

NLC Vows to Resist Move to Decentralise Minimum Wage

The Nigeria Labour Congress (NLC) has declared its readiness to resist any move by the National Assembly to transfer labour matters, including the national minimum wage, from the exclusive legislative list to the concurrent list - a move that would allow individual states to set their own wage structures.

1 mins

NBS to Unveil Long-Awaited GDP Rebase Next Week

The National Bureau of Statistics (NBS) will next week release Nigeria's newly rebased Gross Domestic Product (GDP) figures, offering what many analysts expect to be a clearer, more realistic picture of the nation’s economic structure.

2 mins

Abiodun Approves More Roads, Pledges Consistent Infrastructural Development

The Ogun State Executive Council, on Wednesday, approved the reconstruction of more roads across the state, as Governor Dapo Abiodun reiterated his commitment to consistent infrastructural development across the state.

1 mins

Coalition Drags NNPCL CEO to Tinubu Over 'Unchanged' Leadership Style

A coalition of over 50 civil society organisations led by the Patriotic Nigerian Youth Forum (PNYF) has petitioned President Bola Tinubu over what it describes as persistent highhandedness and lack of reform at the Nigerian National Petroleum Company Limited (NNPCL) under its new CEO, Bayo Bashir Ojulari.

1 mins

Palmer to Estevão: We Can't Wait

Chelsea forward Cole Palmer has shared what he told Brazilian wonderkid Willian Estevão following the Blues' 2-1 victory over Palmeiras in the quarterfinals of the FIFA Club World Cup on Saturday.

1 mins

Ronaldo Slammed for Missing Jota’s Funeral

Cristiano Ronaldo Faces Backlash for Skipping Diogo Jota’s Funeral

1 mins

Maresca to Chelsea Stars: Be Happy or Leave

Chelsea manager Enzo Maresca has issued a clear message to his squad: only happy players have a future at Stamford Bridge.

1 mins

"I Don’t Care" - Bellingham Reacts as Nico Williams Rejects Barcelona Move

Real Madrid star Jude Bellingham has made it clear he’s unbothered by Nico Williams’ decision to reject a summer transfer to Barcelona, his club’s fiercest rivals.

1 mins

Estevao Eyes Ballon d'Or Battle with Yamal

Chelsea-Bound Estevao Backs Himself to Rival Yamal, Mastantuono for Ballon d'Or

1 mins

Romano: Man Utd Not in Race for Osimhen

Respected football transfer expert Fabrizio Romano has ruled out Manchester United as a contender in the race to sign Nigerian striker Victor Osimhen from Napoli this summer.

1 mins

Navigating Nigeria's Capital Market: H1 2025 Review and H2 Outlook

The Nigerian capital market demonstrated resilience and growth in the first half of 2025, with various sectors exhibiting promising performance. Here's a comprehensive review of the market's H1 performance and what to expect in H2 2025.

2 mins

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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