Founder and Executive Chairman of BUA Group, Abdul Samad Rabiu, has called for a decisive shift in Africa’s development strategy, urging governments, financiers, and the private sector to move the continent from raw material extraction to large-scale industrial processing and value addition. Rabiu made the remarks as Special Guest of Honour at an Africa Finance […]
Nigeria’s economic reform programme is being executed with safeguards for low-income households, Minister of Finance Wale Edun has said, as policymakers and financial leaders intensify debate over how to balance short-term pain with long-term stability and growth. Speaking in Abuja at the Oxford Global Think Tank Leadership Conference, Edun acknowledged that recent reforms have coincided […]
The Lagos State Government has announced reforms to its landlord-tenant laws aimed at improving justice administration and encouraging greater investment in the real estate sector. Attorney General of the State, Mr Lawal Pedro (SAN), disclosed at a press conference in Lagos that a bill has been presented to the State House of Assembly to fast-track […]
The Nigeria Revenue Service (NRS), formerly known as the Federal Inland Revenue Service (FIRS), has set an ambitious revenue collection target of ₦40.71 trillion for 2026, following a record-breaking performance in 2025 where it collected ₦28.3 trillion, surpassing the ₦25.2 trillion target by ₦3.1 trillion. Executive Director of the Government and Large Taxpayers Group, Ms […]
The Nigerian Communications Commission has launched a sweeping review of the country’s telecommunications policy, 26 years after the current framework was introduced. The Commission announced the review on Monday, releasing a consultation paper to gather input from stakeholders. Officials say the move is necessary as rapid technological changes and market realities have rendered the existing […]
The Federal Account Allocation Committee (FAAC) disbursed a record N22.44 trillion to the Federal Government, States, and Local Governments in 2025, marking one of the largest fiscal injections in Nigeria’s history. Data from the Office of the Accountant-General of the Federation showed that allocations rose sharply across all tiers during the year under review. The […]
Selloffs in technology stocks dominated headlines across global equity markets during the week, as investor concerns over artificial intelligence, related expenditure plans triggered notable volatility. Anchoria Securities Limited reported that global equities delivered a mixed performance, with sharp divergences across regions. In the United States, equity benchmarks ended the week significantly lower. The Nasdaq declined […]
The Centre for the Promotion of Private Enterprise (CPPE) has raised a red flag over compulsory domestic value-addition policies, cautioning that poorly sequenced mandates could distort commodity markets, suppress primary producers’ incomes, and erode Nigeria’s hard-won non-oil export gains. In a statement issued in Lagos, CPPE founder, Dr Muda Yusuf, acknowledged the growing emphasis on […]
Enugu State has recorded a landmark internally generated revenue (IGR) of ₦406.8 billion in 2025, representing 80 per cent of its ambitious ₦509.9 billion target for the year, according to the Enugu State Internal Revenue Service (ESIRS). Briefing journalists in Enugu, ESIRS Chairman, Mr Emmanuel Nnamani, described the performance as a “historic leap,” noting that […]
Rite Foods Limited, makers of Fearless Energy Drink, has congratulated Afrobeat legend Fela Anikulapo Kuti on his historic posthumous recognition with the Grammy Lifetime Achievement Award, conferred by the Recording Academy in January 2026. The award, presented at the Special Merit Awards ceremony in Los Angeles ahead of the 68th Grammy Awards, marked a global […]
The Group Managing Director and Chief Executive Officer of United Bank for Africa (UBA) Plc, Oliver Alawuba, has urged leaders in Nigeria’s South-East to place peace and security at the heart of their development agenda. Speaking at the South-East Vision 2050 Regional Stakeholder Forum in Enugu, Alawuba stressed that safety remains the foremost condition investors […]
Nigeria’s persistent struggle to translate economic policy into tangible enterprise growth will be tested later this month as the World International Economic Group (WIEG) hosts its first international investment summit in Lagos on February 25–26, 2026. Themed “From Policy to Capital: Unlocking Enterprise Growth for Sustainable Development,” the summit is being positioned not as another […]
Nigeria is preparing to host a landmark international investment summit as the World International Economic Group (WIEG) Nigeria brings its globally recognised platform to Lagos on February 25–26, 2026. The event, which marks WIEG’s first summit in Nigeria and is themed “From Policy to Capital: Unlocking Enterprise Growth for Sustainable Development,” is expected to catalyse […]
Ethereum tumbled sharply on the last trading day of the week, losing 11 per cent in 24 hours to trade at $1,900.31, as a violent market-wide deleveraging swept through the cryptocurrency sector. The sell-off, triggered by cascading liquidations and extreme risk-off sentiment, has left ETH underperforming broader market declines and reinforced investor rotation into Bitcoin […]
The International Finance Corporation (IFC), a member of the World Bank Group, and the Abdul Samad Rabiu Africa Initiative (ASR Africa) have announced the expansion of the She Wins Africa program, increasing its reach from 100 to 1,000 women entrepreneurs across Sub-Saharan Africa. The announcement was made at the closing ceremony of the inaugural cohort […]
MTN Group has confirmed it is in advanced talks to acquire the remaining 75 per cent stake in IHS Holding Limited, a move that would give Africa’s largest mobile operator full control of one of the world’s biggest independent tower companies. In a cautionary notice to investors on Thursday, the South African telecom giant said […]
AIICO Insurance has reported a pretax profit of ₦19.8 billion for 2025, representing a 24.86 per cent increase from ₦15.9 billion in 2024. However, the company’s full-year unaudited results reveal troubling trends that cast doubt on the sustainability of its earnings momentum. Premiums received rose sharply to ₦189.2 billion from ₦156.1 billion, but claims paid […]
Conoil Plc closed 2025 on a sour note, with profit after tax plunging by 77 per cent to ₦2 billion, the lowest in five years, according to unaudited results. Earnings per share also fell sharply, breaking a five-year streak of consistent growth. The downturn was driven by thin margins, surging finance costs, and weaker sales […]
Africa’s startup ecosystem is set for another lift as applications open for the 10th cohort of the Google for Startups Accelerator Africa, a 12-week hybrid programme focused on Series A companies building AI-driven solutions for the continent. Applications will run until March 18, 2026. Since its launch in 2018, the accelerator has supported more than […]
Moniepoint deepened its footprint in Nigeria’s real economy in 2025, disbursing more than N1 trillion in credit to small and medium-scale enterprises, as the fintech expanded data-driven lending to businesses largely excluded from traditional banking channels. The company said the milestone underscores growing momentum in financial inclusion, particularly across the informal sector, where […]