Economy/Business

Economy/Business

NCS extends grace period for migration to AEO programme

/

The Nigeria Customs Service (NCS) has extended the migration deadline for Fast Track Scheme beneficiaries to the Authorised Economic Operator (AEO) Programme by one month, to January 31, 2026, to ensure a seamless transition. This mandatory shift aligns with global security and trade standards, meaning only AEO-certified companies will retain expedited customs privileges like faster cargo release and fewer inspections. Stakeholders must act promptly, utilizing the official portal and a dedicated stakeholder forum on December 18th

Economy/Business

Equities market recoups losses as investors gain N694bn

/

The Nigerian equities market posted a significant gain of N694 billion, driven by strong performances in key stocks like Berger Paints and Japaul Gold, which bolstered the market’s year-to-date return to an impressive 43.74%. Despite this overall capital appreciation, underlying market activity reveals a contraction, with notable declines in trading volume, value, and the number of deals executed. This divergence suggests the rally was fueled by selective, high-value investments rather than broad market participation, indicating cautious but strategic

Economy/Business

Price of 5kg cooking gas hit N8,081 in October- NBS

/

Nigeria is experiencing a severe and accelerating cooking gas price crisis, with the cost of a 5kg cylinder surging over 26% in just one month, significantly outpacing year-on-year inflation. This inflationary pressure is most acute in northern states like Borno and Yobe, highlighting critical regional disparities in energy access and affordability. The crisis is directly attributed to supply chain disruptions, specifically a key refinery strike and critical facility maintenance, exposing systemic vulnerabilities. This situation presents an immediate threat to household energy

Economy/Business

FG unveils pioneer gas trading licence, clearing authorisation

/

Nigeria has launched Africa’s first regulated gas trading exchange, positioning itself as a potential regional hub for transparent energy pricing. This landmark platform, established under the Petroleum Industry Act, will standardize and secure the trading of natural gas, boosting investor confidence and market efficiency. By creating a trusted, competitive marketplace, it aims to unlock the value of Nigeria’s vast gas reserves for power, industrial, and commercial sectors. This initiative marks a critical step toward national energy security and economic diversification.

Economy/Business

Budget: Enugu Govt. earmarks N10bn equity for 135.4km rail project

/

Enugu State is executing a transformative, multi-modal transport strategy anchored by a major 135.5km intra-state rail project, backed by a N10 billion equity commitment in its 2026 budget. This vision extends beyond rail to aggressively expand its state-owned airline and develop Enugu into a regional aviation and logistics hub. Concurrently, the administration is making parallel strategic investments exceeding N83 billion in large-scale agricultural industrialization and mechanization to ensure food security and economic diversification. The budget’s 80

Economy/Business

Court strikes out liquidation suit against Dantata & Sawoe after $1.4m debt settlement

/

A major Nigerian construction firm, Dantata & Sawoe, narrowly avoided court-ordered liquidation by making a last-minute $1.4 million payment to settle a subcontracting debt, demonstrating the severe and immediate legal consequences for corporate payment defaults. The case underscores that courts will enforce drastic measures like appointing liquidators when companies fail to meet obligations, even after being granted extensions. Crucially, the resolution highlights that such existential threats can be averted through full debt settlement, which prompts creditors to

Economy/Business

Katsina agency sensitises entrepreneurs to enabling environment for growth, businesses dev’t 

/

Katsina State is proactively transforming its business landscape by directly engaging entrepreneurs with a concrete, multi-agency reform package. The state’s Investment Promotion Agency is spearheading efforts to simplify critical processes, evidenced by a significant 38% reduction in the time to obtain a Certificate of Occupancy. This initiative uniquely bridges the gap between federal regulators and local businesses, providing direct education on compliance and land administration to foster MSME growth and attract international trade. The core value is a demonstrable shift from policy

Economy/Business

Embrace tax reforms to boost development, expert advises Nigerians

/

Nigeria’s new National Tax Act consolidates numerous laws into a single framework, eliminating the confusion of multiple taxation and establishing the Nigerian Revenue Service as the sole collection authority. The system is designed to be fair and progressive, taxing only net income and providing clarity for small businesses and online entrepreneurs to operate with structure. This reformed regime represents a critical shift toward transparent governance, where tax compliance directly funds visible infrastructure, aiming to rebuild public trust. Ultimately, embracing this act is framed as a civic duty that strengthens

Economy/Business

Acquisition of  Saipem by Marconi a milestone for Nigeria content – NCDMB

/

The acquisition of Italian oil servicing firm Saipem by a Nigerian consortium, Marconi NG EPC, represents a transformative milestone for Nigeria’s oil and gas sector. It signifies a major achievement for the national content drive, positioning a domestically-owned company with world-class, West Africa-leading infrastructure to execute complex projects across all oilfield terrains. This strategic move directly fulfills the NOGIC Act’s mandate by enabling a Nigerian entity to competitively handle reserved contracts and bid for broader international-scale projects

Scroll to Top