Daily Business Reporter

Nigeria’s banking sector is entering a stronger phase following a major recapitalisation programme that enabled banks to raise ₦4.65 trillion in fresh capital, significantly boosting their capacity to finance large-scale investments. The initiative, mandated by the Central Bank of Nigeria (CBN), is expected to enhance the resilience of the financial system while positioning banks to […]

Nigeria’s manufacturing sector generated ₦1.17 trillion in Value Added Tax (VAT) revenue in 2025, according to data released by the National Bureau of Statistics (NBS). The figure represents a notable increase from the ₦803.53 billion recorded in 2024, highlighting the sector’s growing importance to government revenue and its resilience despite challenging economic conditions. Data from

The Managing Director of Legendary Foreshore, Victor Ameh, has warned that escalating tensions involving the United States, Israel and Iran could intensify economic pressures in Nigeria, despite creating short-term gains from rising oil prices. Speaking in an interview with Leadership Newspaper, Ameh said growing geopolitical uncertainty in the Middle East is already unsettling global oil

The Federal Government has inaugurated the newly reconstituted Governing Board of the Nigerian Commodity Exchange (NCX) as part of efforts to strengthen the country’s commodities market and enhance non-oil trade. The inauguration ceremony, which took place in Abuja on Wednesday, marks the beginning of a new leadership phase aimed at repositioning the Exchange for improved

Nigeria’s manufacturing sector contributed a total of N881.29 billion in Company Income Tax (CIT) in 2025, according to the latest data released by the National Bureau of Statistics (NBS). The figure represents a significant increase from the N663.46 billion recorded in 2024, highlighting strong year-on-year growth and underscoring the sector’s expanding role in Nigeria’s revenue

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said recent regulatory reforms have unlocked more than $10 billion in upstream oil and gas investments. The Chief Executive of the commission, Mrs Oritsemeyiwa Eyesan, disclosed this on Thursday in Abuja during the Society of Petroleum Engineers (SPE) Nigeria Council’s Oloibiri Lecture Series and Energy Forum 2026.

The Federal Government has inaugurated a technical committee to evaluate a proposed $200 billion integrated gas, power and high-speed rail project submitted by De-Sadel Nigeria Limited. The development was disclosed in a statement issued on Thursday by the Office of the Secretary to the Government of the Federation (SGF), which said the committee has been

The Nigerian naira appreciated to N1,365 per dollar on Thursday, strengthening slightly from N1,369/$ recorded on Wednesday, according to data published on the Central Bank of Nigeria (CBN) website. The gain comes amid a broader decline in the U.S. dollar across global markets, as the greenback heads for its largest weekly loss since January. Analysts

Managing Director, Federal Airports Authority of Nigeria (FAAN), Mrs. Olubunmi Kuku has  emphasised that airports are far more than transit points, but  strategic assets driving trade, tourism, employment, and economic integration. Kuku disclosed this on the sidelines of the Airports Council International (ACI) regional conference and exhibition in Luanda, Angola. She said :” The future of

The Federal Government has expressed its intention to draw lessons from Indonesia’s rise to a $1.4 trillion economy as Nigeria pursues its own goal of becoming a $1 trillion economy under the administration of President Bola Tinubu. This was disclosed in a statement by the Ministry of Budget and Economic Planning following a courtesy visit