The decision by the Nigerian Communications Commission (NCC) and the Corporate Affairs Commission (CAC) to require regulatory approval for significant changes in telecom company ownership raises concerns about whether the measure will strengthen market transparency or create fresh hurdles for investors. Under the new framework announced on June 21, any transfer of shares amounting to …
Nigeria’s latest inflation data for May 2026 present a complex and politically sensitive economic picture. The headline inflation is rising, monthly price pressure is slowing, food costs remain structurally high, and regional disparities are widening in ways that are quietly reshaping household survival patterns across the country. According to the Consumer Price Index (CPI) released …
Jaiz Bank Plc has reported a 28 per cent growth in profit before tax to ₦31.24 billion for the year ended December 31, 2025, up from ₦24.44 billion in 2024, as the non-interest bank posted across-the-board growth in earnings, deposits and assets despite a tough macroeconomic environment. Disclosing the bank's audited results at a press …
The Nigerian Content Development and Monitoring Board (NCDMB) and Nigeria LNG Limited (NLNG) have reaffirmed their commitment to deepen collaboration on local content, as the gas giant's Train 7 project reached 90 percent completion and pre-commissioning activities got underway. The renewed commitment was made on Wednesday when NLNG's Managing Director and Chief Executive Officer, Engr. …
Family-owned businesses across Africa are growing faster than their global counterparts, even as inflation, tax complexity and supply chain disruptions weigh on the operating environment, according to PwC's Africa Family Business Survey 2025. The survey, which sampled 79 family businesses across East, West and Southern Africa, found that 66% reported sales growth in the past …
The Nigerian Electricity Regulatory Commission (NERC) has commended the Edo State Judiciary for adopting the Edo State High Court (Nigerian Electricity Supply Industry) Practice Directions, 2026. In a statement, the national electricity regulator said the move marks a significant milestone in strengthening the legal framework governing the power sector. The new legal framework, which officially …
Aradel Holdings Plc delivered one of the strongest earnings performances in Nigeria's oil and gas sector in the first quarter of 2026. The company posted a triple-digit growth in revenue, profit and production following the expansion of its asset base. Its revenue surged by 265 per cent to ₦728.5 billion, from ₦199.9 billion a year …
Nigeria's latest Company Income Tax (CIT) figures have exposed a growing imbalance in the economy, with foreign-linked entities contributing significantly more tax revenue than domestic businesses. This worry comes at a time when key productive sectors are showing signs of distress. Data released recently by the National Bureau of Statistics (NBS) showed that total CIT …
The federal government has dismissed reports that it plans to introduce new taxes on telecommunications services and petroleum products. It dismissed the claim in a statement on Tuesday by Maryann Duke, Senior Special Assistant on Communications and Press Affairs to the Minister of Finance and Coordinating Minister of the Economy, describing it as inaccurate and …
The International Monetary Fund (IMF) has warned that the rapid rise of stablecoins in Nigeria could weaken the country’s control over its monetary system. It highlighted this concern in a report on Tuesday following the release of its latest Article IV report on Nigeria, detailed in Annex VII. According to the Brettonwood financial institution, more …
