Nigeria's electricity crisis remains one of the most significant constraints on its economic development. Despite being Africa's largest economy, Nigeria struggles with chronic power shortages, with operational output hovering around 5,000 megawatts (MW) for a population of over 200 million people. The centralised model of electricity generation, transmission, and distribution has, according to experts, proven …
Group Managing Director/Chief Executive Officer of Access Holdings Plc, Innocent Ike, has assumed office today, 29 August 2025, promising to build on the legacies of late Herbert Wigwe and acting CEO, Bolaji Agbede, in the financial institution. Access Holdings had announced Ike’s appointment on Wednesday, following regulatory approval, with effect from 29 August 2025. Ike …
Guaranty Trust Holding Company Plc (GTCO) has injected ₦365.9 billion into its banking subsidiary, Guaranty Trust Bank Limited (GTBank), to comply with the Central Bank of Nigeria's (CBN) new minimum capital requirement for commercial banks with international authorization. This strategic move has pushed GTBank's share capital from ₦138.19 billion to ₦504.04 billion, surpassing the CBN's …
Agusto & Co., a pan-African credit rating agency, has projected that Nigerian banks' profit before tax (PBT) for 2025 will drop by 19.2 per cent, primarily due to higher impairment charges, reduced foreign exchange (FX) revaluation gains, and regulatory changes. The pan-African rating agency made this known in its latest banking industry report for 2025. …
By Victor Ezeja The proposed return of Petrobras to Nigeria, as discussed during President Bola Tinubu's state visit to Brazil earlier this week, is seen as a significant development with far-reaching implications for Nigeria’s oil and gas industry. This comes five years after it exited joint venture activities in the country. The deal is part of broader …
PwC Nigeria has projected Nigeria's Gross Domestic Product (GDP) to grow by 3.4 per cent in 2025, building on the 2.7 per cent growth recorded in 2024. This growth is primarily supported by higher crude oil production and strengthened performance in key sectors, including finance & insurance, ICT, construction, and real estate. Nigeria's recent GDP …
While Nigeria battles insurgency, the rate of kidnapping has equally escalated and turned into a lucrative industry, with abductors getting billions of naira as proceeds yearly. A recent report by SBM Intelligence revealed that between July 2024 and June 2025, kidnappers demanded roughly ₦48 billion as ransom and got ₦2.57 billion, representing 5.35 per cent …
Nigeria’s external reserves have been projected to reach $45 billion by the end of 2025, bolstering efforts by the Central Bank of Nigeria (CBN) to stabilise the naira and pave the way for economic growth. This comes as external reserves have recorded a steady rise in recent times, reaching $41 billion on Tuesday, August …
Victor Ezeja The Manufacturers Association of Nigeria (MAN) has opposed the Nigeria Customs Service (NCS)'s recent reintroduction of a 4 per cent Free on Board (FOB) charge on imports, which took effect on 4 August 2025. This levy, which is applied to the total value of goods before shipment, has sparked significant concern due to its potential to …
Nigeria's significant decline in Foreign Direct Investment (FDI) is a pressing economic issue, reflecting deep-seated structural weaknesses and investor apprehensions. The latest Capital Importation report released by the National Bureau of Statistics reveals that Foreign Direct Investments into Nigeria fell sharply by 70.06 per cent quarter on quarter to $126.29 million in the first quarter …
