Business

Federal Government Slashes Oil Block Signature Bonus to Minimum $3 Million to Attract Investors in 2025 Licensing Round In a bold move to revive investment and participation in the nation’s oil and gas sector, the Federal Government, through the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has drastically reduced the signature bonus required for oil blocks […]

Nigerian Corporate Executive Funmi Ekundayo Elected President of the Global Corporate Secretaries International Association Nigerian governance expert and corporate executive, Funmi Ekundayo, has achieved a major global milestone by emerging as the new President of the Corporate Secretaries International Association (CSIA). The announcement, made over the weekend, elevates Ekundayo to the leadership position of the […]

Federal Government Agency NDPHC Restores 450MW to National Grid Following Major Scheduled Maintenance at Geregu NIPP Plant The Federal Government has achieved a significant boost in the nation’s power generation capacity, announcing the successful restoration of an additional 450 Megawatts (MW) to the national grid. The increase was confirmed by the Niger Delta Power Holding […]

CBN Issues Final Licenses to First Batch of 82 BDCs Under Tougher 2024 Guidelines, Demands N2 Billion Capital for Top Tier In a major step towards sanitizing the retail segment of Nigeria’s turbulent foreign exchange (FX) market, the Central Bank of Nigeria (CBN) announced the issuance of the first batch of final licenses to 82 […]

FG’s Electronic Money Transfer Levy Revenue Hits N360 Billion Total, Doubles Collection Rate After Extension of N50 Charge to Fintech Giants The Federal Government’s policy of expanding the tax net to capture Nigeria’s booming digital economy has yielded a massive financial dividend, with total revenue generated from the Electronic Money Transfer Levy (EMTL) reportedly doubling […]

FCMB Group’s Gross Earnings Soar 40.9% to Record N828.1 Billion in 9M 2025, Fueled by 64.7% Surge in Interest Income FCMB Group Plc has announced a robust financial performance for the first nine months of the year, posting a significant surge in top-line earnings despite a tough macroeconomic environment. According to its unaudited results filed […]

Lagos State Tops Nigeria’s 2025 Ease of Doing Business Ranking with 85.6% Score, Widens Gap Over Kaduna and Oyo The Presidential Enabling Business Environment Council (PEBEC) has officially released its 2025 Subnational Ease of Doing Business (EoDB) Report, confirming that Lagos State has maintained its position as the most competitive business environment in Nigeria. Lagos […]

Netflix Secures Definitive $72 Billion Deal to Acquire Warner Bros. Studio and Streaming Assets, Including HBO Max and DC Comics In a monumental transaction set to redefine the global entertainment landscape, Netflix, Inc. today, Friday, December 5, 2025, announced it has entered into a definitive agreement to acquire the film, television studio, and streaming assets […]

Nigeria-Slovenia Chamber Urges Entrepreneurs to Tap into Central European Market, Citing Slovenia’s EU Membership and Stable Economy The Nigeria-Slovenia Chamber of Commerce has strongly encouraged the Nigerian business community to actively explore the substantial trade and investment opportunities available in Slovenia, describing the Central European nation as a promising frontier for global expansion. The appeal […]

Asian Markets Show Mixed Results as Investors Await Crucial US Inflation Data Set to Finalize Bets on Next Week’s Federal Reserve Rate Cut Asian stock markets traded with mixed results today, Friday, December 5, 2025, as investors struggled for a firm direction ahead of critical economic data from the United States that is expected to […]

Investor Confidence and Strong Harvest Propel Nigeria’s Agro-Sector Output to Record N30.5 Trillion in Q3 2025 Nigeria’s agricultural sector has demonstrated significant resilience and growth, with the latest figures indicating that the sector’s output soared to N30.5 trillion in the Third Quarter (Q3) of 2025. This impressive performance is primarily attributed to a sharp surge in […]

Works Minister Umahi Assures Protesting Contractors, Sets December 20 Deadline for Payment of N4 Trillion Debt Backlog The Federal Government has moved decisively to quell rising tensions among contractors handling critical infrastructure projects, assuring them that all verifiable outstanding payments will be cleared by December 20, 2025. The assurance was delivered by the Minister of […]

Indigenous Contractors Stage Fresh Protest at Ministry of Finance, Demanding Immediate Payment of Long-Overdue N500 Billion+ Debt Members of the All Indigenous Contractors of Nigeria (AICAN) have launched a fresh, high-stakes series of protests in Abuja, dramatically converging on the Federal Ministry of Finance and the National Assembly Complex to demand the immediate settlement of […]

SpenAgro CEO Mbachu Unveils Strategy to Achieve Global Cocoa Dominance, Anchored on Premium Quality and Farmer Empowerment The Chief Executive Officer of SpenAgro, Ebuka Mbachu, has declared the company’s intent to become a dominant force in the global cocoa market, asserting that the firm is taking decisive steps to position itself as a leading exporter […]

FG to Enforce 30% Local Processing Mandate on All Natural Resource Exports, Awaits Presidential Assent on Landmark Bill The Federal Government has disclosed its final plans to enforce a landmark policy requiring a minimum of 30 per cent local value addition to all natural resources and raw materials before they are shipped out of Nigeria. […]

Fully Private Digital Bank, Bank78 MFB, Debuts with AI-Powered Support to Restore Trust and Combat Transaction Downtimes Nigeria’s digital banking landscape entered a new, competitive phase as Bank78 Microfinance Bank (MFB) officially commenced operations, positioning itself as the country’s first fully private digital bank. The new entrant is built around a philosophy focused on reliability and […]

Reps Issue Final December 8 Ultimatum to Finance, Power, and Budget Offices Over Evasion of 2007-2024 Power Sector Probe The House of Representatives Ad Hoc Committee investigating Nigeria’s controversial power sector reforms and expenditures from 2007 to 2024 today, Thursday, November 27, 2025, issued a final, non-negotiable ultimatum to several critical Ministries, Departments, and Agencies […]

Governor Fubara Declares Rivers “Most Peaceful Destination” for Business, Citing Large Turnout at Rotary Conference as Evidence Rivers State Governor, Siminalayi Fubara, today, Saturday, November 22, 2025, boldly declared that Rivers State is now one of the most peaceful destinations in Nigeria, suitable for both tourists and business investors. Making the declaration at the All […]