The International Monetary Fund (IMF) has concluded its latest mission to Senegal without finalizing a new lending programme, though discussions are still ongoing. Mission Chief Edward Gemayel confirmed that negotiations would continue in the coming weeks, noting that Senegal’s government was committed to restoring fiscal discipline after uncovering billions of dollars in unreported debt left …
For the first time in history, the U.S. Labor Department will miss releasing its key employment report for a second consecutive month, as the ongoing government shutdown stretches into its second month, the longest ever recorded. The data blackout has left economists, investors, and policymakers struggling to gauge the true state of the American economy. …
The National Pension Commission (PenCom) and the National Insurance Commission (NAICOM) have introduced tough new measures to force employers into complying with pension and insurance laws. Both regulators now require insurance companies to only work with employers that comply with pension deductions and employee life insurance contributions. In a joint circular issued on Wednesday, PenCom …
Financial expert Funsho Doherty has slammed the recently approved 15% import duty on petrol and diesel, warning that it could further strain Nigerian households already grappling with high fuel costs. In an open letter to Senate President Godswill Akpabio, Doherty, who previously worked with Goldman Sachs & Co., PNC Advisors, Arthur Andersen, and served as …
Power generation companies (GenCos) in Nigeria have lost an estimated ₦987.92 billion in five years due to the persistent electricity crisis arising from frequent collapse of the national grid and poor distribution infrastructure. A recent report released by the Association of Power Generation Companies (APGC) explained that the figure represents the value of electricity that …
The National Sugar Development Council (NSDC) has launched the Sugarcane Outgrower Development Programme (SODP) to increase local sugar production and reduce Nigeria’s dependence on imports. The initiative, which supports the Nigeria Sugar Master Plan II (NSMP II), aims to bring farmers into the national sugar value chain while boosting rural jobs and income. Announcing the …
Nigeria’s equity market closed October with a flourish, extending a rally that has been in motion since April. The Nigerian Exchange Limited (NGX) All-Share Index (ASI) opened the month at 142,713.1 points and ended at 154,126.4, representing an approximate 8% rise. According to reports, the index has already accumulated year-to-date returns approaching 50% for 2025. …
The U.S. dollar held close to a three-month peak on Monday as investors looked ahead to a slate of economic data this week that could offer fresh insight into the strength of the world’s largest economy and signal whether the Federal Reserve will maintain its hawkish posture. Asia-Pacific trading was subdued due to a holiday …
The Nigerian government's approval of a 15 per cent import tax on petrol and diesel, primarily to protect local refineries, has, however, sparked significant concerns over higher fuel prices and increased economic hardship for citizens. A memo dated October 10, 2025, signed by Zacch Adedeji, Chairman of the Federal Inland Revenue Service (FIRS), addressed to …
Nestlé Nigeria PLC has announced its financial results, recording a 33 per cent increase in revenue in nine months of 2025 (January to September). According to the report released on Friday, the beverage producer posted a total revenue of N884.5 billion compared to N665.3 billion in the nine months of 2024. The company’s operating profit …
