Economy/Business

Economy/Business

NADDC pushes bill to back automotive policy with legislation

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Nigeria’s automotive regulator is seeking to transform its key industry policy into binding law to provide the long-term stability required for major investment. This legislative move aims to secure billions in capital by protecting against policy reversals and institutionalizing incentives. The core insight is that for capital-intensive sectors like automotive manufacturing, legal certainty is a more powerful investment catalyst than policy alone. This strategic shift is fundamental to transitioning Nigeria from a vehicle assembly hub to a sustainable, globally competitive manufacturing industry.

Economy/Business

Heirs energies seals $750m financing agreement with Afreximbank

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Heirs Energies has secured a $750 million financing agreement with Afreximbank, a landmark deal championed as a powerful example of African capital fueling African industrial growth. The capital is strategically allocated to refinance existing debt and fund a major expansion, aiming to double crude oil production to 100,000 barrels per day and significantly increase gas output within three years. This underscores a critical, actionable insight for African business leaders: delivering strong performance for supportive financial institutions is essential to securing further investment and

Economy/Business

Iyaloja commends Oyo Govt. on new Omi-Adio ultra modern market

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The Omi-Adio market leader commends the Oyo State government for delivering a transformative, modern market with critical amenities, directly addressing trader welfare and economic growth. To unlock its full potential, she urgently appeals for the expedited allocation of shops to relocate traders from a flood-prone area by January 2026. A key additional request is the installation of a solar power system to ensure reliable electricity, complementing the existing modern facilities. This project represents a fulfilled government promise that now requires final execution to

Economy/Business

Stakeholders brainstorm on new tax reforms in Kano

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A major Nigerian tax reform initiative is being driven by civil society and financial literacy groups to ensure public and business buy-in. The reforms aim to streamline over 70 taxes into a fairer, more efficient system that is progressive—exempting the poor, reducing middle-class burdens, and increasing contributions from the wealthy. A core operational shift will see taxes deducted directly from business profits rather than solely through salary deductions, targeting improved revenue and reduced evasion. This collaborative sensitization effort is crucial for translating complex fiscal

Economy/Business

Yuletide: Transport costs soar across Lagos

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Lagos commuters are facing crippling transport fare increases exceeding 100% during the 2025 festive season, severely exacerbating the existing cost-of-living crisis and decimating household budgets. Operators justify the hikes by citing unsustainable operational costs, including fuel and maintenance, compounded by severe traffic congestion that erodes their profits. This situation reveals a systemic breakdown where both commuters and transport providers are trapped in a cycle of economic distress, with no immediate relief in sight. The crisis underscores a critical need

Economy/Business

Tinubu’s 2026 budget, people-centred, infrastructure-driven — Goronyo

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The 2026 budget is framed as a dual-engine strategy, prioritizing security as the foundational prerequisite for economic stability and investor confidence, paired with major road infrastructure investments to reduce costs and improve national connectivity. This integrated approach aims to directly alleviate citizen hardship by stimulating job creation and economic growth through tangible projects. The government positions these allocations as a direct implementation of its Renewed Hope Agenda, with an emphasis on disciplined execution to deliver measurable improvements in quality of life.

Economy/Business

Power sector gains require reforms beyond tariff adjustments- Expert

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Nigeria’s power sector has a critical window in 2025 to leverage recent grid stability and enact transformative reforms, but success hinges on moving beyond mere tariff adjustments. The core challenge is operational: high losses, inadequate metering, and gas supply constraints cripple the system, preventing reliable electricity despite improved infrastructure. To secure lasting progress, reforms must prioritize accurate customer mapping, robust metering, and resolving the gas supply chain to restore investor and consumer confidence. Ultimately, the sector’s future depends on disciplined

Economy/Business

North-East defined by ideas, resilience, not challenges – NGX Chairman

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Nigeria’s economic future hinges on strategically investing in its youth, who represent over 60% of the population, to transform them from job seekers into enterprise creators. The Nigerian Exchange Group advocates for a capital market that bridges talent and capital, emphasizing that empowering youth with financial knowledge and funding access is essential for national progress. A key insight is the need to redefine regions like the North-East by their inherent resilience and ambition, not their challenges, to unlock their full economic potential. This requires a dual commitment

Economy/Business

Tinubu’s Forex reforms attract unprecedented investments – NGX boss

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Nigeria’s foreign exchange reforms, while initially painful, have catalyzed a dramatic economic turnaround by establishing a unified, market-driven currency system that has restored investor confidence. This is evidenced by the tripling of the stock market’s capitalization to nearly N100 trillion, a surge in foreign direct investment, and reduced corporate reliance on central bank forex. The resulting stability has lowered inflation and interest rates, enabling businesses to recover and post strong profits. Ultimately, these policies have transformed the business landscape, attracting new listings

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