Zenith Bank has reported an impairment charge of ₦781.5 billion on its financial assets for the nine-month period ending September 2025, accounting for 39.3% of its projected pre-provision operating profit for the full year 2024. A large portion of this impairment—98.5%—relates to loan impairments, including significant write-offs, which have further weighed on the bank’s loan …
The Nigerian Bar Association (NBA) has raised concerns over controversies surrounding the recently enacted Tax Reform Acts, warning that the development casts doubt on the integrity and credibility of Nigeria’s legislative process. In a statement signed by its President, Mazi Afam Osigwe, SAN, the association said the circumstances trailing the passage of the laws strike …
President Bola Tinubu has presented the proposed 2026 Federal Budget, estimated at ₦58.18 trillion, on Friday, December 19, 2025. The president, who arrived at the National Assembly complex on Friday afternoon, presented the budget titled “Budget of Consolidation, Renewed Resilience and Shared Prosperity” at a joint session of the National Assembly. Breakdown of 2026 Budget …
Amid domestic and global economic uncertainties, FCMB Pensions, a subsidiary of FCMB Group Plc, is targeting a N1.2 trillion growth in Assets Under Management (AUM) by the end of December 2025. This ambitious goal reflects the company’s resilience in navigating financial challenges and its commitment to becoming a major player in Nigeria's pension industry. FCMB …
President Bola Ahmed Tinubu has urged Nigerians not to fear about the new tax regime set to begin next year, promising significant benefits for low-income earners, small businesses, and essential sectors. Speaking at the 8th Annual Senator Abiola Ajimobi Roundtable and the 76th posthumous birthday lecture of the late Oyo State governor at the University …
Nigeria recorded ₦12.81 trillion as revenue from crude oil exports in the third quarter (Q3) of 2025. This is according to the National Bureau of Statistics (NBS) Foreign Trade Statistics report for Q3 2025, released last week. The report revealed that crude oil exports accounted for 56.14 per cent of total exports. The NBS data …
President of the Dangote Group, Aliko Dangote, has said the pump price of premium motor spirit (PMS), also known as petrol, will come down to N740 per litre at filling stations across the country. Dangote, who spoke during a media briefing in Lagos on Sunday, said the new price will take effect on Tuesday, December …
The Nigeria National Petroleum Company (NNPC) Limited says its flagship upstream subsidiary, NNPC E&P Limited (NEPL), hit 355,000 barrels per day (bpd) of oil production, its highest daily output since 1989. It said the increased production was achieved on December 1, 2025. In a statement released on Tuesday, the national oil firm said the average …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) emerged as the highest among agencies in revenue remittances into the federation account in October 2025. According to data obtained from the Federation Accounts Allocation Committee (FAAC), out of a total of N2.93 trillion revenue remitted by seven agencies, NUPRC remitted N873.11 billion. This represents 29.8 per cent …
As discussions about Nigeria hitting a $1 trillion economy target by 2030 continue, experts have hinted at the indispensable role of Small and Medium-sized Enterprises (SMEs), in realizing that goal. SMEs, which form the backbone of the economy (contributing nearly 50 per cent to GDP and over 80 per cent to employment), must be at …
