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The Business NG
Each Nigerian Owes About N338,700 as External Debt Hits N78 Trillion
Nigeria's external debt has risen to approximately N78 trillion, reflecting a continued increase in government borrowing to finance infrastructure and development projects across the country.
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The Business NG
NGX Slams N562.6 Million Penalty on 32 Firms Over Financial Reporting Breaches
The Nigerian Exchange Limited (NGX) has imposed a total of N562.6 million in fines on 32 listed companies for failing to meet required deadlines for submitting their audited and unaudited financial statements during the 2024/2025 financial year.
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The Business NG
GTCO, MTN, Zenith Bank, Others Set for Dividend Payouts as Investors Await Cash Rewards
A wave of dividend payments from leading Nigerian listed companies is set to hit investors’ accounts this week, with major firms including Guaranty Trust Holding Company Plc, MTN Nigeria Communications Plc, and Zenith Bank Plc among those scheduled to reward shareholders.
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The Business NG
Sanwo-Olu Endorses Deputy Hamzat for 2027 Governorship Race
A major political signal emerged from Lagos on Sunday as Governor Babajide Sanwo-Olu openly endorsed his deputy, Obafemi Hamzat, as his preferred successor in the 2027 governorship race, setting the tone early for what is expected to be a closely watched succession battle in Nigeria's commercial capital.
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The Business NG
NGX Soars Past 225,000 as UACN, Lafarge Lead Market Rally in Record-Breaking Week
The Nigerian equities market extended its bullish run last week as the Nigerian Exchange Limited (NGX) surged to new highs, driven by strong investor demand and impressive performances from key large-cap and mid-tier stocks.
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The Business NG
Concerns Mount as FG Unveils 'Green Tax' on SUVs, High-Engine Vehicles from July 2026
Nigeria is set to introduce a new “green tax” on high-emission vehicles beginning July 1, 2026, in a policy move designed to promote environmental sustainability but already generating mixed reactions from stakeholders and policy analysts.
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The Business NG
Nigeria's Non-Oil Exports Surge 38% as Customs Records $925.8m at Lilypond in Q1
Nigeria's push to diversify its economy away from crude oil is gathering pace, with the Nigeria Customs Service reporting a strong performance in non-oil exports at the Lilypond Export Command in the first quarter of 2026.
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The Business NG
Yam Prices Surge Across Lagos as Transport Costs, Supply Gaps Bite
Traders across Lagos are reporting a steady rise in yam prices, with market operators pointing to a mix of logistical and seasonal pressures driving the increase.
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The Business NG
Finance Ministry in Flux Amid Frequent Ministerial Shifts Over Three Months
Nigeria's Federal Ministry of Finance has come under scrutiny following a series of rapid leadership changes that have seen multiple ministers of state reportedly occupy the role within a span of just three months.
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The Business NG
Electricity Shake-Up Looms as Adelabu Advises FG on Cost-Reflective Tariffs
A major shakeup may be coming to Nigeria's power sector as the Minister of Power, Adebayo Adelabu, has advised the Federal Government to adopt cost-reflective electricity tariffs and begin the recapitalisation of electricity distribution companies (DisCos).
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The Business NG
Nigeria's Debt Hits N80.5 Trillion as Spending Outpaces Earnings
Nigeria's domestic debt has risen to 80.5 trillion as of the fourth quarter of 2025, reflecting growing pressure on public finances as government
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The Business NG
Over 360,000 Applicants Disqualified as FG Releases Paramilitary Recruitment Results, Reopens Portal
The Federal Government has disqualified more than 360,000 applicants from the ongoing recruitment exercise into Nigeria's paramilitary services following the release of examination results by the Civil Defence, Correctional, Fire and Immigration Services Board (CDCFIB).
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The Business NG
High Imported Car Prices Persist Despite Federal Government Tariff Reduction
Nigeria's reduction of import tariffs on vehicles to 40 percent under its latest fiscal policy measures was expected to ease pressure on car buyers and signal a new phase of affordability in the auto market.
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The Business NG
Nigeria's Healthcare System Under Pressure as 4,691 Doctors Move to UK in Three Years
GMC Data
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The Business NG
How Fiscal Truths Led to Wale Edun's Exit from Cabinet
The removal of Wale Edun as Minister of Finance and Coordinating Minister of the Economy on April 21, 2026, has been officially framed as part of a routine cabinet reshuffle aimed at improving economic coordination.
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The Business NG
Pressure Builds on Nigeria's Economy as Foreign Reserves Fall Since March 2026
Projected to Fall to $47 Billion CBN Vows to Raise Reserves to $51Bn
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The Business NG
Bala Mohammed's Political Future Uncertain Amid Reports of Party Search
Political uncertainty is growing around the future of Governor Bala Mohammed as reports suggest he may be quietly reviewing his political options ahead of future elections.
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The Business NG
FCT Teachers to Begin Indefinite Strike on Monday
Teachers in the Federal Capital Territory (FCT) are set to begin an indefinite strike on Monday following unresolved issues with their welfare and working conditions.
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The Business NG
Opposition in Disarray as LP, PDP and ADC Struggle to Field 2027 Presidential Candidates
Nigeria's opposition politics is heading into the 2027 general election in a state of uncertainty, as major parties struggle to agree on clear presidential candidates amid rising internal divisions and competing interests.
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The Business NG
Court Orders Arrest of Ex-Minister Sadiya Umar Farouq Over Alleged N2.49bn Fraud
A Federal Capital Territory High Court sitting in Apo has ordered the arrest of former Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar Farouq, over her alleged involvement in a 2.49 billion fraud case.
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The Business NG
MTN Nigeria Suspends Air-time, Data Lending Service Over FCCPC Regulation
MTN Nigeria has temporarily suspended its airtime and data lending service known as \"Xtratime,\" following new compliance requirements introduced by the Federal Competition and Consumer Protection Commission.
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The Business NG
FG Set for Revenue Boost as Nigerian Crude Rallies to $113/Barrel, Tops Brent
Nigeria's federal government is expected to see stronger oil revenue inflows after the coun-
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The Business NG
Naira Weakens as FX Inflows Drop in March, CBN Steps Up Dollar Sales
Nigeria’s foreign exchange market recorded a slight slowdown in March 2026, as total dollar inflows declined by 7% to $4.1 billion, accord-
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The Business NG
Old Tax Laws Made Nigerians Poor; New System Will Create Opportunities, Prosperity-Tinubu
President Bola Tinubu has declared that Nigeria's old, colonial-era tax laws contributed to widespread poverty, promising that newly implemented reforms will un-
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The Business NG
Dangote Refinery Makes History as Nigeria Becomes Net Petrol Exporter, Earns Fresh Forex Boost
Nigeria has reached a major milestone in its energy sector as the Dangote Petroleum Refinery & Petrochemicals drives the country into becoming a net exporter of petrol for the first time.
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The Business NG
1,000% Rally: Experts Warn Wema Bank May Be Overvalued After Market Boom
Financial experts have raised concerns that the rapid market surge of Wema Bank may have pushed its valuation beyond fundamental levels, following a dramatic stock rally of over 1,000% in recent years.
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The Business NG
Kano APC Stakeholders Back Murtala Sule Garo for Deputy Governor Role
Stakeholders of the All Progressives Congress (APC) Legacy Group in Kano have nominated Murtala Sule Garo as the preferred candidate for the state's deputy governor position following hours of deliberation that stretched into early Sunday morning.
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The Business NG
Hamzat, Ambode, Jandor Step Up Mobilisation as Lagos 2027 Governorship Race Intensifies
Political activities ahead of the 2027 governorship election in Lagos are gaining momentum, as loyalists of key aspirants within the All Progressives Congress (APC) intensify grassroots mobilisation and strategic alignments.
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The Business NG
NGX Soars 29% in Q1 2026 as Nigeria's Capital Market Enters a New Era of Discipline
Nigeria's capital market delivered a strong performance in the first quarter of 2026, but beneath the impressive growth lies a deeper story of structural reforms, investor discipline, and strategic repositioning.
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The Business NG
World Bank Warns Nigeria Against Subsidy Spending as Oil Revenue Windfall Grows
The World Bank Group says Nigeria's recent economic reforms are beginning to deliver results, with improved growth, easing inflation, and stronger external balances.
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