Economy/Business

Economy/Business

Naira rebounds, gains N1.65 against dollar at official market 

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The Nigerian Naira closed the trading week on December 12, 2025, with a marginal appreciation of 0.11%, reaching N1,454.41 against the US dollar in the official market. This weekly gain of N1.65 followed a period of minor volatility, indicating relative stability within the official foreign exchange window. The data underscores a tightly managed official rate with minimal fluctuations, contrasting with potentially wider disparities in parallel market rates. This stability suggests deliberate central bank intervention to control the

Economy/Business

Alake hails N50bn revenue surge as mining cadastre goes digital

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Nigeria’s Ministry of Solid Minerals Development has achieved a significant revenue increase to over N50 billion in 2025, driven by sector-wide digital reforms. The launch of the One-Gov Cloud platform is central to this growth, automating systems to enhance efficiency, transparency, and secure operations across agencies. A standout success is the Mining Cadastre Office, whose revenue surged to N30 billion, demonstrating the tangible impact of digitization and strong policy support. This trajectory underscores that sustained growth and improved governance in

Economy/Business

Oyedele says 2026 tax laws will boost small firms, protect low earners

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Nigeria’s 2026 tax reforms strategically pivot from a burdensome, multi-tax system to one designed to fuel broad-based economic growth by empowering the informal sector and low-income earners. The core strategy eliminates taxes for the smallest businesses and low-wage workers while cutting the corporate rate, incentivizing formalization to transform micro-enterprises into larger, taxable entities. This overhaul aims to stimulate inclusive development where growth is widely felt, enhance global competitiveness, and stabilize public finances after a period of severe

Economy/Business

AMCON hands over Star Paper Mill to Abia Govt.

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The Asset Management Corporation of Nigeria (AMCON) has successfully transferred the long-dormant Star Paper Mill to the Abia State Government, a strategic move central to the state’s industrial revival plan. This preserved asset, once a national icon, is projected to generate 3,000–5,000 jobs and significantly boost local supply chains and GDP upon revitalization. The handover exemplifies a critical federal-state partnership to rescue and reactivate strategic national assets. Governor Alex Otti has committed to restoring

Economy/Business

Finance ministry plays vital role in economy growth – ex perm sec

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In a farewell address, outgoing Finance Permanent Secretary Lydia Jafiya framed the ministry as the critical engine of national economic stability, where internal errors directly impact society. Her core directive emphasized unwavering unity and precision, warning that “we must not drop the ball.” Jafiya’s departure highlights the indispensable role of internal cohesion and professional collaboration in sustaining effective economic governance. The transition underscores that institutional resilience hinges on sustained teamwork and dedicated civil service, with the incoming leader pledging to build upon this established foundation.

Economy/Business

Gov. Bago presents N1.3trn 2026 budget to Niger assembly

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Niger State’s 2026 “Budget of Consolidation” is a N1.31 trillion plan prioritizing transformative capital investment, with 74% allocated to projects driving agricultural value chains, critical infrastructure, and human capital development in education and healthcare. Its core strategy is to shift from federal dependency by boosting internal revenue, explicitly linking infrastructure spending—which consumes the entire capital vote—to direct economic growth and job creation. The budget is a calculated bet on achieving food security and industrialization through specific interventions like

Economy/Business

Equities market closes week with N946bn gain

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The Nigerian equities market closed the week with robust momentum, adding N946 billion in a single day as sustained investor interest in medium and large-cap stocks drove a 1% rise in both market capitalization and the All-Share Index. This bullish sentiment is underscored by a positive market breadth and a significant 45.18% year-to-date return, highlighting a strong annual performance. Notably, the trading session saw a substantial increase in activity, with deal volume, value, and the number of transactions all rising

Economy/Business

Lekki Deep Seaport, strategic response to Nigeria’s maritime, coastal challenges – Expert

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The Lekki Deep Seaport is a critical, privately-led infrastructure solution to Nigeria’s inherent maritime constraints, specifically designed to overcome the shallow, depositional coastline that has historically limited large vessels and required costly dredging. Its strategic value lies in its 16-meter draft, which bypasses the economic and environmental burdens of maintaining shallower eastern ports, directly enabling Nigeria to participate in modern global trade. The project’s realization underscores that securing international financing is contingent on rigorous environmental safeguards, transforming compliance into a strategic

Economy/Business

NCDMB, media visit to Marconi, firm pledges cost and speedy project delivery 

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Marconi NG Engineering is positioning itself as a leading West African EPC contractor by leveraging its newly acquired, large-scale fabrication yard to deliver projects faster and at lower cost, directly supporting Nigeria’s drive for increased oil and gas investment. The company’s unique value proposition combines world-class infrastructure with deep local expertise, aligning with national local content mandates to boost economic growth and job creation. A critical insight is Marconi’s strategic plea for unwavering enforcement of local content laws, arguing that this regulatory consistency is essential to

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