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Pharmacists Raise Alarm: Half of Drugs in Nigeria Are Fake

The Business NG

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The BusinessNG

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.

Pharmacists Raise Alarm: Half of Drugs in Nigeria Are Fake

National Chairman of the ACPN, Pharmacist Ambrose Igwekamma Ezeh, made the alarming disclosure in a statement released ahead of the association’s 44th annual national conference.

Ezeh described the growing influx of counterfeit drugs, beverages, and food products as a national emergency, noting that the situation has returned to crisis levels last witnessed decades ago.

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Jittery Investors Dump Fidelity Bank Over N225bn Debt Fears, Earnings Delay

Fidelity Bank is facing a confidence crisis as jittery investors continue to offload its shares, triggering an 11% slump on the Nigerian Exchange (NGX) amid mounting concerns over delayed earnings and a lingering N225 billion judgment debt.

time to read

1 min

The BusinessNG

The Business NG

Tinubu Reassures Nigerians: 'Better Days Are Coming'

President Bola Tinubu has appealed to Nigerians to remain hopeful as his administration's reforms begin to take effect, promising that the economy will soon deliver tangible prosperity.

time to read

1 min

The BusinessNG

The Business NG

Banks Set to Cut Loan Rates in 2026 - Analyst

A financial analyst Nairametrics founder and financial analyst, Ugo Obi-Chukwu, has projected that Nigerian commercial banks will begin lowering lending rates in 2026 as strong capital buffers and profitability drive a shift toward real sector financing.

time to read

1 min

The BusinessNG

The Business NG

Despite Losses in 28 State Airports, Ogun Rolls Out Gateway

Only 4 Airport are Profitable - Analysts ValueJet Begins Scheduled Flights October 7 State-Owned Airports in Nigeria Operate at a Loss — NCAA

time to read

1 min

The BusinessNG

The Business NG

Naira to Hit N1,300 by Year-End -BUA Chairman

Chairman of BUA Group, Abdul Samad Rabiu, has expressed confidence that Nigeria's currency could appreciate to between N1,300 and N1,400 per US dollar by December 2025, citing ongoing fiscal and monetary reforms.

time to read

1 min

The BusinessNG

The Business NG

Shoprite Faces Collapse as 25 Branches Shut Down Nationwide

Struggling retail consumer goods giant, Shoprite Nigeria, is fighting to stay afloat as store closures, empty shelves, and mounting financial pressure push the once-thriving supermarket chain closer to collapse, BusinessNG can report.

time to read

1 min

The BusinessNG

The Business NG

Concerns Mount Over PenCom's New Governance Exemptions

The National Pension Commission's (PenCom) newly released Corporate Governance Guidelines for Pension Fund Operators have sparked debate, with critics warning that certain exemptions could weaken board independence in the pension industry.

time to read

1 min

The BusinessNG

The Business NG

14 Banks Scale CBN Capital Test

Fourteen Nigerian banks have already met the Central Bank of Nigeria's (CBN) new capital requirements, marking a major step in the ongoing recapitalisation exercise.

time to read

1 min

The BusinessNG

The Business NG

Natasha Returns to Senate, Says No Apology

Senator Natasha Akpoti-Uduaghan has gone back to the National Assembly after completing a six-month suspension.

time to read

1 min

The BusinessNG

The Business NG

Nigeria's GDP Grows 4.23% on Oil Rebound

Nigeria’s economy expanded by 4.23% year-on-year in the second quarter of 2025, driven by higher crude oil output and a stronger non-oil sector, according to data released by the National Bureau of Statistics (NBS). The figure surpasses the 3.48% growth recorded in Q2 2024.

time to read

1 min

The BusinessNG

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