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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.
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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.
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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.
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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.
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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.
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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.
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The BusinessNG
The Business NG
Parents Cry Out as Private Schools Hike Fees Nationwide
Parents in Enugu, Lagos, Abuja, and Port Harcourt are raising alarm over steep tuition hikes by private and faith-based schools, with fees rising by as much as 50% this new academic session.
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The BusinessNG
The Business NG
Tax Reform: How Nigerians' Income May Be Affected in Jan. 2026
Nigerians will soon face a new tax system starting January 1, 2026, aimed at making taxes fairer while encouraging investments and savings.
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The BusinessNG
The Business NG
'CBN May Cut MPR as Inflation Eases, Naira Stabilizes'
The Central Bank of Nigeria (CBN) is expected to trim its benchmark Monetary Policy Rate (MPR) by 25 to 50 basis points at its 302nd Monetary Policy Committee (MPC) meeting scheduled for September 22-23, 2025, as inflation eases and the naira stabilizes.
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The BusinessNG
The Business NG
FG Unveils Key Education Reforms Under Tinubu Administration
The presidency has outlined a series of reforms aimed at revitalizing Nigeria's education sector under President Bola Ahmed Tinubu’s administration.
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The BusinessNG
The Business NG
Calls for State Police Intensify as Reps Seek to Boost Nigeria's Security
The demand for state police in Nigeria has intensified, with the Deputy Speaker of the House of Representatives, Benjamin Kalu, describing it as a critical solution to the country's escalating insecurity challenges.
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The BusinessNG
The Business NG
Nigerian Stocks Outpace Inflation with 38% Gain
Nigeria's stock market has continued its impressive rally in 2025, delivering real positive returns for investors as inflation eases.
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The BusinessNG
The Business NG
Banks Push Back as AMCON Levy Hits N847bn
Calls Grow to Scrap AMCON After 15 Years
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The BusinessNG
The Business NG
Nigerians Dismiss FG's N330bn Cash Transfer Claim
The Federal Government's claim that it disbursed 330 billion in cash transfers to poor and vulnerable households has sparked widespread disbelief, with many Nigerians dismissing the announcement as fraudulent and lacking transparency.
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The BusinessNG
The Business NG
Pension Savings for Informal Workers Surge to N1.46bn
Nigeria's informal workers are increasingly securing their financial future, with retirement savings under the Personal Pension Plan (PPP) climbing by 765 percent in just four years, according to the Pension Fund Operators Association of Nigeria (PenOp).
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The BusinessNG
The Business NG
Ibas Bows Out, Says Peace Is Rivers' Gain
Retired Vice Admiral Ibok-Ete Ibas, who served as Sole Administrator of Rivers State for six months, says his administration succeeded in restoring peace and stability in the state despite operating under extraordinary conditions.
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The BusinessNG
The Business NG
Banks Must Approve MDs Six Months Ahead – CBN Orders
The Central Bank of Nigeria (CBN) has directed Domestic Systemically Important Banks (DSIBs) to secure regulatory approval for their Managing Director/Chief Executive Officer (MD/CEO) successors at least six months before the incumbent’s tenure ends, as part of efforts to strengthen corporate governance and ensure stability in the financial system.
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The BusinessNG
The Business NG
FG Backs Down on 5% Fuel Tax Implementation
The Federal Government has clarified that it has no immediate plan to enforce the controversial 5% Petroleum Products Tax provided in the recently enacted tax legislation.
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The BusinessNG
The Business NG
NAICOM Sets July 2026 Deadline for Insurance Recapitalisation
The National Insurance Commission (NAICOM) has issued fresh guidelines on the minimum capital requirements (MCR) for insurance and reinsurance firms in Nigeria, directing all operators to fully comply by July 30, 2026.
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The BusinessNG
The Business NG
Banks' Loan Rates Soar to 36%, SMEs Struggle to Survive
Nigerian businesses are reeling under the weight of soaring bank lending rates, which now range between 29% and 36%, raising fears of slower growth, stalled investments, and rising job losses.
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The BusinessNG
The Business NG
NUPENG Strike: Fuel Supply Secured, Dangote Tells Nigerians
Dangote Refinery has dismissed fears of looming fuel shortages following the nationwide strike declared by the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG).
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The BusinessNG
The Business NG
Edo kidnapping goes violent, nine dead
TRAGEDY struck late Saturday as eight personnel of the Nigerian Security and Civil Defence Corps (NSCDC) and an unidentified civilian were reportedly shot dead by suspected kidnappers who were said to have gone away with a Chinese expatriate working at the BUA Cement site in Okpella, Etsako East local government area.
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The BusinessNG
The Business NG
Two Years Without Ambassador Appointments: Concerns Mount Over Vacant Embassies
Nigerians are increasingly voicing concern over President Bola Ahmed Tinubu's failure to appoint ambassadors more than two years into his administration.
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The BusinessNG
The Business NG
Nigeria Hits N20.59trn Revenue in Eight Months, Non-Oil Accounts for 76%
The federal government generated a total revenue of N20.59 trillion between January and August 2025, with the non-oil sector contributing N15.69 trillion, the presidency has disclosed. The figures mark a major shift away from Nigeria's traditional dependence on oil.
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The BusinessNG
The Business NG
Fresh Bank Shares May Weaken EPS Despite Sector Growth—Analysts
Investors are being urged to carefully consider their positions in Nigerian banks as several lenders continue to raise fresh equity to boost capital.
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The BusinessNG
The Business NG
NGX: Low-Priced Stocks Outperform Inflation, ASI in 2025
....Deliver Triple-Digit Returns Despite Risks
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The BusinessNG
The Business NG
FCCPC Enforces N100m Fine on Rogue Loan Apps
The Federal Competition and Consumer Protection Commission (FCCPC) has begun enforcing a new regulation that slams non-compliant digital lending operators with fines of up to N100 million or 1% of annual turnover, as Nigeria intensifies its crackdown on unethical lending practices.
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The BusinessNG
The Business NG
Naira Projected at N1,585/$ by December - Report
Standard Bank has revised its outlook for the Nigerian naira, projecting the currency to close 2025 at
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The BusinessNG
The Business NG
Nigeria Unveils New School Curriculum with Journalism, Coding, AI
The Federal Government has introduced a sweeping overhaul of Nigeria's secondary school curriculum, with new modules in journalism, programming, artificial intelligence (AI), robotics, and fact-checking designed to prepare students for a rapidly changing global economy.
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The BusinessNG
The Business NG
FX Stability: Chinese Traders Now Prefer Naira to Dollar - ABCON
The naira is showing signs of stability in the foreign exchange market, and traders say one key factor is China's growing acceptance of the Nigerian currency for trade settlements.
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