Economy/Business

Economy/Business

Weekly Review: Equities investors record N1.67trn gain

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The Nigerian stock market demonstrated robust growth for the week ending December 20, 2025, with the NGX All-Share Index rising 1.76% and investors gaining N1.673 trillion in wealth. While the market breadth narrowed slightly, the Financial Services and ICT sectors dominated trading activity, accounting for the majority of turnover volume and value. Notably, the NGX AFR Bank Value and Oil & Gas indices were outliers, posting minor declines amidst the broader rally. This performance underscores sustained investor

Economy/Business

Repeal 2025 appropriation act, consolidate 2026 budget -Ife

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A leading economist has called for the repeal of Nigeria’s 2025 budget and its consolidation into the newly proposed 2026 budget, citing severe budget indiscipline and the failure to implement 70% of the current year’s capital projects. While experts acknowledge the 2026 budget is more conservatively structured than its predecessors, they warn its oil revenue assumptions remain dangerously optimistic and threaten fiscal credibility. The core critique centers on unrealistic benchmarks bloating the deficit, increasing unsustainable borrowing, and crowding out vital private

Economy/Business

Yusuf employs additional manpower, Kano tops in Northern Nigeria, 9th nationally in IGR

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Kano State has achieved the highest Internally Generated Revenue (IGR) in Northern Nigeria and ranks ninth nationally, a position attributed to recent institutional reforms and a commitment to professionalism. To sustain this performance, the administration has strategically recruited 120 permanent revenue officers while enforcing a strict zero-tolerance policy against corruption. This demonstrates a clear model where governance focused on capacity-building and integrity directly translates to superior fiscal outcomes, setting a benchmark for regional economic management.

Economy/Business

Naira weakens further at official market

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The Nigerian naira experienced a volatile week, opening with gains but succumbing to sustained demand pressures to close 0.4% weaker at N1,464.49 against the US dollar. This trajectory highlights the persistent fragility of the currency despite intermittent appreciation, underscoring that underlying market forces continue to drive depreciation. The key takeaway is that without addressing core demand imbalances, short-term rallies are unlikely to be sustained, signaling ongoing forex market instability.

Economy/Business

NSE flags off construction of residential terrace to bridge shelter gap

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The Nigerian Society of Engineers (NSE) is strategically pivoting into real estate development, launching an 18-unit residential project in Lagos through a landmark public-private partnership. This initiative signals a powerful model where professional bodies directly invest in critical national infrastructure, specifically targeting Nigeria’s severe housing deficit. The NSE positions this not merely as a construction project, but as a foundational step in a broader mission to leverage engineering expertise for sustainable urban development and economic growth. This move establishes the Society as an active developer

Economy/Business

NGX gains N1.08trn as investors extend year-end rally

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The Nigerian Exchange closed the week with a significant N1.08 trillion gain, fueled by a year-end rally and strong investor interest in specific top-performing equities. This surge elevated the Year-To-Date return to 47.73%, underscoring robust market confidence despite a notable shift toward higher-volume, lower-value trading activity. Market experts attribute this sustained bullish trend to typical seasonal patterns rather than unusual catalysts. The advance, led by stocks like Union Dicon Salt and Austinlaz, demonstrates concentrated momentum

Economy/Business

BRIPAN inaugurates Folorunsho, reaffirms economic stability role

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The Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) has inaugurated Mr. Albert Folorunsho as its new president, signaling a continued focus on stabilizing distressed businesses and bolstering economic confidence. Under the outgoing leadership, the association strengthened its national impact through strategic engagement with financial institutions and regulators, alongside significant membership growth and capacity building. A substantial treasury of N145 million has been secured to fund future initiatives, including a new secretariat. The incoming administration is tasked

Economy/Business

Multiple budget implementation to end in March 2026-Tinubu

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President Bola Tinubu has announced a definitive end to Nigeria’s problematic system of multiple, overlapping budgets, setting a hard deadline of March 31, 2026, to fully fund and close all prior capital liabilities. From April 2026, the nation will transition to a single, consolidated annual budget supported by a unified revenue cycle, aiming to eliminate abandoned projects, unpaid contracts, and fiscal inefficiency. This structural reform, framed within a N58.18 trillion “Budget of Consolidation,

Economy/Business

KACCIMA urges FG to resolve Dangote refinery dispute, warns of economic setback

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A leading Nigerian business chamber warns that the unresolved dispute between the government and the Dangote Refinery poses a severe, multi-faceted economic threat. They argue that operational disruptions could trigger massive job losses, directly fueling the nation’s insecurity crisis, while also undermining investor confidence. The chamber frames the stalemate as economic sabotage and rejects claims of monopolistic intent, urging the government to prioritize transparency and support for critical indigenous industries. Their core demand is for urgent federal intervention to resolve the impasse and

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