Nigeria's ambitious Industrial Policy 2025 faces implementation concerns as millions of small businesses struggle to survive harsh operating conditions. The Chairman of the Alliance for Economic Research and Ethics, Dele Kelvin Oye, raised the concern. According to him, Nigeria's Industrial Policy 2025 (NIP2025) risks failing to achieve its objectives unless the government closes the gap …
Olu Olanrewaju, Director of Altair International, in this interview with FRIDAY EHIME ALEX, argues that Nigeria's housing crisis will not be solved by simply building more estates but by creating a functioning housing market that treats housing as a productive economic sector rather than a construction-driven welfare programme. Drawing on more than 30 years of …
The Federal Government has inaugurated an inter-ministerial committee to develop a new Value Added Tax (VAT) Modification Order aimed at supporting the implementation of Nigeria's Tax Reform Acts, which took effect on January 1, 2026. The committee was inaugurated by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, at the Federal …
The Nigerian stock market returned to positive territory in the week ended July 24, reversing the mild setback recorded in the previous week as investors renewed buying interest in banking and industrial stocks, pushing the benchmark index and market capitalisation to fresh highs. The Nigerian Exchange (NGX) All-Share Index (ASI) gained 1.60 per cent to …
Businesses are yet to reap the benefits of Nigeria's improving macroeconomic stability as borrowing costs remain stubbornly high despite signs that the Central Bank of Nigeria (CBN) is making progress in its fight against inflation. The CBN's decision to retain the Monetary Policy Rate (MPR) at 26.5 per cent at its July Monetary Policy Committee …
Nigeria is among 60 countries affected by a new round of United States import tariffs that took effect on Friday, as President Donald Trump's administration tightened its trade policy with duties of up to 12.5 per cent on imports from major trading partners. The new measures replace a temporary global tariff introduced earlier this year …
Türkiye and Nigeria have launched the Türkiye–Nigeria Shipbuilding and Maritime Digital Exhibition and Forum 2026, a joint initiative aimed at strengthening bilateral cooperation in shipbuilding, maritime infrastructure, investment and skills development. The forum, which began on July 20, 2026, is supported by the Ministry of Industry and Technology of the Republic of Türkiye, coordinated by …
The International Monetary Fund (IMF) has said artificial intelligence (AI) could increase Sub-Saharan Africa's gross domestic product by about four per cent over the next decade if countries, including Nigeria, address long-standing constraints such as unreliable electricity, weak digital infrastructure and skills shortages. In its 2026 departmental paper, 'Unlocking the Potential: AI in Sub-Saharan Africa', …
Femi Otedola has significantly increased his stake in First HoldCo Plc after an insider-related company acquired 706.13 million ordinary shares worth about ₦77.6 billion. The new purchase reinforces his position as one of the lender's largest shareholders just days after the company posted record half-year earnings. A regulatory filing by First HoldCo on July 22, …
The federal government has said that more than ₦40 trillion of the increase in Nigeria's public debt since 2023 resulted from the revaluation of the country's external debt following the sharp depreciation of the naira, rather than from new borrowing. Minister of Finance and Coordinating Minister of the Economy Wale Edun made the clarification on …
