Economy/Business

Economy/Business

CSO wants  NMDPRA boss probed over alleged ‘unexplained wealth’

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A Nigerian civil society organization is demanding an investigation into the head of the national oil regulator, NMDPRA, following explosive allegations by billionaire Aliko Dangote that the official possesses unexplained wealth, including paying $5 million in foreign school fees. This accusation emerges amidst a high-stakes industry conflict, with Dangote claiming the regulator’s issuance of new fuel import licenses undermines his massive new refinery. While the regulator’s actions are defended by a transparency watchdog as promoting fair competition, the core issue

Economy/Business

Ranching key to ending farmer-herder clashes -ACCI

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Transitioning from open grazing to structured ranching is the critical solution to Nigeria’s persistent farmer-herder conflicts, directly addressing a primary source of rural insecurity, farmland destruction, and displacement. This shift promises significant economic benefits by boosting meat and dairy productivity, creating jobs across the livestock value chain, and unlocking private sector investment for modernization. Success hinges on strong political will to enact reforms and foster strategic public-private partnerships to finance and implement the transition. Concurrently, supporting small businesses and promoting affordable clean energy

Economy/Business

Tax Policy: NEZA supports 10-yr transition for free zone operators

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Nigeria’s free zone operators warn that abruptly applying the national tax policy will destabilize investments and trigger capital flight. They advocate for a critical 10-year transition period to harmonize policies and develop a competitive incentive framework. This strategic delay is essential to preserve investor confidence and the long-term integrity of the economic zones. Ultimately, the goal is to ensure tax reforms strengthen, rather than undermine, Nigeria’s position as a competitive investment destination.

Economy/Business

Valcertra digital platform  ‘ll address Africa’s export challenges— Odoh 

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Valcertra is a pioneering digital platform launching in 2026 to tackle Africa’s critical export challenges, which cost SMEs an estimated $38 billion annually in lost opportunities. It directly addresses systemic failures—like inconsistent standards and documentation gaps—by verifying products and producers through accredited partners, ensuring global compliance. The platform’s core value proposition is building trust via secure transactions, escrow services, and field validation, aiming to unlock over $1 billion in annual trade. Ultimately, Valcertra measures success by

Economy/Business

ACCI urges businesses to partner with tax experts on new reforms

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The Abuja Chamber of Commerce and Industry (ACCI) urges Nigerian businesses to proactively engage qualified tax consultants to navigate the comprehensive 2025 Tax Reform Acts, which take effect in January 2026. This collaboration is critical to ensure compliance, avoid penalties, and leverage reforms that eliminate multiple taxation rather than impose new burdens. The ACCI positions itself as a vital bridge between government and business, advocating that constructive partnership—not confrontation—is essential for revenue generation without stifling enterprise growth. Ultimately, informed

Economy/Business

Yuan weakens to 7.0656 against dollar

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The Chinese yuan weakened slightly against the U.S. dollar, reflecting ongoing market pressures and a controlled depreciation within China’s managed exchange rate system. The key insight is that the yuan’s value is not freely floating but is centrally guided, with its daily trading band strictly limited to a 2% range around a government-set parity rate. This mechanism allows Chinese authorities to manage currency stability and mitigate volatile capital flows, making even minor official adjustments significant signals of policy intent. Consequently, this controlled depreciation primarily serves strategic

Economy/Business

Tinapa can generate over 12,000 jobs – MD

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Tinapa Business Resort, now under state control after past financial failures, is being repositioned to unlock its significant economic potential. Its Free Trade Zone status and dual focus on business and leisure position it to generate over 12,000 jobs and substantial revenue for Cross River. While investor interest exists, the current priority is meticulous groundwork to avoid previous mistakes and ensure a sustainable future. The project’s revival represents a critical opportunity to finally realize its original vision as a major regional hub for trade, tourism, and

Economy/Business

Nigerians lament as Christmas decorations get pricey

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Soaring inflation in Nigeria is fundamentally altering Christmas traditions, with decorations like trees doubling in price and festive hampers nearly tripling in cost. This price surge is forcing consumers to forgo purchases, opt for cheaper alternatives like plants, or reuse old items, severely dampening both retail sales and festive spirit. The situation reveals a deeper economic strain where even symbolic seasonal spending is becoming a significant financial burden for families and businesses alike. Consequently, the core celebration is being reshaped by necessity, highlighting how inflation

Economy/Business

Afri Invoice records surge as firms brace for FIRS tax reforms

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Nigerian businesses are urgently adopting digital invoicing in anticipation of major FIRS tax reforms, creating a critical shift in the national tax ecosystem. Afri Invoice is capitalizing on this transition by offering incentives for early adoption, positioning its platform as a essential compliance tool that automates invoicing, ensures real-time reporting, and guarantees alignment with FIRS requirements. The solution is uniquely designed for local challenges, operating offline and in low-data environments while providing robust features like QR-code validation and automated tax calculations

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