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 …
The United Kingdom Nigeria Infrastructure Advisory Facility (UKNIAF), in collaboration with the Nigerian Governors’ Forum (NGF), has concluded a major national initiative aimed at advancing state-led electricity market reforms. The initiative, known as the State Learning Workshop Series, focused on key aspects of electricity market development, Integrated Resource Planning (IRP), and energy modelling software, with …
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 …
The Alliance for Economic Research and Ethics LTD/GTE has issued a strong call for clarification from the Nigerian government regarding its recent ban on the export of raw shea nuts. In a strategic move aimed at maximising the potential of Nigeria’s shea industry, President Bola Ahmed Tinubu announced a six-month ban on the export of …
In a strategic move aimed at maximising the potential of Nigeria’s shea industry, President Bola Ahmed Tinubu announced a six-month ban on the export of raw shea nuts. This bold decision, effective immediately, is designed to curb the export of unprocessed shea, encourage local processing, and position Nigeria to capture a larger share of the …
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 …
By Rafiyat Sadiq President Bola Tinubu has ordered the immediate suspension of raw shea butter nut exports for six months, declaring that Nigeria must stop exporting poverty and start creating wealth locally. The president, in a statement shared on his official X account on Tuesday, said the decision was part of his administration’s effort to …
Nigeria’s Minister of Information and National Orientation, Mohammed Idris, has hailed the new Bilateral Air Services Agreement (BASA) with Brazil as a “significant breakthrough.” He said the pact would reconnect both nations economically, socially, and culturally. Speaking in Brasília on Monday after the signing ceremony attended by President Bola Tinubu and Brazilian President Luiz Inácio …
