Daily Business Reporter

After delivering one of the strongest bull runs in its history, Nigeria’s stock market is beginning to exhibit several characteristics commonly associated with a cyclical peak, prompting analysts to urge caution among aggressive investors. The Nigerian Exchange (NGX) has recorded gains of more than 120% over the past year, with the All-Share Index comfortably surpassing […]

Startups across Nigeria’s South-South and South-East regions attracted $10.23 million in disclosed funding between 2023 and 2025, representing a 29.6% increase from the $7.89 million recorded during the previous reporting period. The figures are contained in the 2025 South-South & South-East Startup Ecosystem and State of Digital Jobs Report published by #StartupSouth, which examined startup

Nigeria’s banking sector recorded a further deterioration in asset quality in January 2026, with the industry’s non-performing loans (NPL) ratio rising to 8.03%, highlighting the continuing impact of the Central Bank of Nigeria’s decision to withdraw regulatory forbearance measures introduced during earlier periods of economic stress. According to the CBN’s January 2026 Economic Report, the

Shareholders of First HoldCo Plc, the parent company of FirstBank of Nigeria, have approved plans to raise up to N253.099 billion as the group intensifies efforts to strengthen its capital base and achieve N1 trillion in paid-up capital. The resolution was passed during the company’s 14th Annual General Meeting (AGM), which was held virtually on

  The Central Bank of Nigeria (CBN) has postponed the enforcement of its mandatory Point of Sale (PoS) terminal geo-fencing framework to August 1, 2026, while also expanding the permitted geo-fence radius for operators. The development was disclosed in a circular dated May 29, 2026, and signed by Dr. Rakiya O. Yusuf, Director of the

Central to Nigeria’s tax administration system is the Federal Inland Revenue Service (FIRS), now renamed the Nigeria Revenue Service (NRS), which remains the country’s apex tax regulator. The agency generated N7.44 trillion in tax revenue during the first quarter of 2026, placing it at the centre of the Federal Government’s revenue mobilisation drive under President

Nigeria’s debt service burden remained elevated in 2025, with new data showing that the Federal Government spent a significant portion of its earnings on servicing debt obligations during the first nine months of the year. According to the 2025 Third Quarter Budget Implementation Report, total debt service payments stood at N12.52 trillion between January and

Nigeria’s total expenditure dropped 41.57% below its prorated budget target in the third quarter of 2025, highlighting continued fiscal pressures despite signs of economic improvement. According to the Federal Government’s 2025 Third Quarter Budget Implementation Report released by the Budget Office of the Federation, total expenditure stood at N8.03 trillion during the period, falling short

Northern Nigeria Flour Mills Plc reported a sharp decline in profitability for the financial year ended March 2026, as weaker sales performance and rising finance costs weighed heavily on earnings. According to the company’s audited financial results filed with the Nigerian Exchange, pretax profit fell by 96.09% to N112.7 million, compared to N2.8 billion recorded