Economy/Business

Economy/Business

Okpebholo presents ₦939.85bn Edo 2026 budget

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Edo State’s ₦939.85 billion 2026 “Budget of Hope and Growth” prioritizes tangible public impact through a decisive 68% allocation to capital projects, focusing on infrastructure, agriculture, and security. Its unique funding strategy relies on a balanced mix of internally generated revenue, federal allocations, and public-private partnerships, while promising enhanced fiscal responsibility without new citizen burdens. The budget is strategically structured around the governor’s SHINE Agenda, directing investments toward economic catalysts and community-focused social programs

Economy/Business

Renovated ACCI centre generates N147.3m in 2025- President

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The strategic renovation of the Prince Adetokunbo Kayode SAN Trade and Convention Centre has proven to be a transformative investment for the Abuja Chamber of Commerce and Industry, generating ₦147.3 million in 2025 and establishing itself as a major revenue driver. This success underscores a core model of achieving institutional sustainability through infrastructure renewal, reducing external funding dependence while elevating Abuja’s profile for business tourism. The chamber’s disciplined focus on commercial projects and transparent management delivers tangible returns, directly funding expanded member

Economy/Business

Firm empowers urban entrepreneurs, enhances financial inclusion

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Digital financial platforms are now essential for Nigeria’s urban entrepreneurs, overcoming traditional banking barriers by providing instant credit and digital tools with just a mobile phone and BVN. This enables rapid business growth, as seen in a case where instant loans allowed continuous production cycles, while also helping informal businesses formalize operations through better financial tracking and services. Consequently, these platforms are evolving into comprehensive financial partners, integrating credit, savings, and daily transactions to support both business and personal economic needs. This model is crucial for financial

Economy/Business

Firm launches free app to boost transparency in real estate

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1st Choice Properties has launched a free app to directly combat systemic corruption and fraud in Nigeria’s real estate market, which costs the nation billions annually and stifles investment. The platform directly connects verified landlords, tenants, and investors, eliminating exploitative middlemen to make transactions transparent, secure, and seamless. By integrating due diligence and facility management, the app aims to unlock the sector’s strong investment potential and support affordable mass housing. This intervention positions technological transparency as a critical catalyst for sustainable development and economic

Economy/Business

Insecurity threatens investment, productivity- says ACCI boss

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Rising insecurity in Nigeria, driven by banditry, kidnapping, and illegal mining, is critically undermining the nation’s economic foundation by disrupting supply chains, inflating costs, and forcing businesses to halt expansion or relocate. This environment directly erodes industrial competitiveness and investor confidence, threatening to trigger capital flight and worsen unemployment. The core conclusion is that economic growth is impossible without security, demanding an urgent, coordinated response. The prescribed solution is a multi-stakeholder, technology-enhanced strategy, uniting government,

Economy/Business

Customs intercept N2.28bn undeclared foreign currencies at Lagos airport

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Nigeria Customs at Lagos airport intercepted a staggering N2.28 billion in undeclared foreign currency from an Austrian national bound for Dubai, demonstrating a critical enforcement action against illicit financial flows. The seizure underscores that carrying large sums is legal, but failure to declare above the $10,000 threshold is a prosecutable offense under anti-money laundering laws. This case highlights the operational vigilance of border agencies in resisting compromise and their collaboration, as the suspect and funds were handed to the EFCC for further investigation

Economy/Business

Alleged corruption: Dangote petitions ICPC against NMDPRA boss

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Aliko Dangote has formally petitioned Nigeria’s anti-corruption agency (ICPC) to investigate the head of the national oil regulator, NMDPRA, for allegedly living beyond his means by spending over $7 million on his children’s foreign education. This high-profile accusation underscores a critical clash between industrial leadership and regulatory authority, framing systemic corruption as a direct threat to public trust and investor confidence in the nation’s vital petroleum sector. The move represents a significant escalation, transforming public allegations into a

Economy/Business

Sanwo-Olu urges inclusive investment to secure Lagos megacity future

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Lagos is transitioning from a city of potential to a city of performance, demanding sustained investment and innovation to secure its future as a liveable, inclusive megacity. The state’s development agenda is anchored on affordable housing as a cornerstone of human dignity and economic productivity, supported by intentional, interconnected investments in modern transport and climate-resilient infrastructure. Crucially, Lagos is leveraging regulatory frameworks and technology, including AI-driven land administration, to create a transparent, credible real estate market that protects consumers and sust

Economy/Business

Stock market extends gain by N13bn

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The Nigerian stock market sustained its positive momentum, adding ₦13 billion in value as investor interest broadened across key industrial and consumer stocks. While the overall gains were marginal at 0.01%, the market breadth was positive with 31 advancing stocks—led by strong performances in manufacturing and mining sectors—outpacing 26 decliners. Notably, trading activity surged in volume and value despite fewer deals, indicating heightened institutional or high-net-worth investment. This reflects a cautiously optimistic market building on a

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