Economy/Business

Economy/Business

Investors gain N469bn as NGX sustains positive momentum

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The Nigerian equities market sustained its positive momentum, delivering a significant N469 billion gain driven by broad-based buying interest across 65 advancing stocks. Key performers like Meyer and Jaiz Bank led the surge, while the overall market breadth remained strongly positive despite notable declines in major financial stocks. Notably, trading activity intensified with higher volume and value, even as the number of deals declined, indicating larger institutional transactions. This performance underscores a robust, selective bullish sentiment where specific sectors and stocks are attracting concentrated investor capital.

Economy/Business

2025: DisCos collect N570bn in Q3 – NERC

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Nigerian electricity distribution companies (DisCos) significantly improved revenue performance in Q3 2025, collecting N570.25 billion—an 80.7% efficiency rate that marks a 4.63 percentage point increase from the previous quarter. This progress, however, masks severe regional disparities, with Ikeja DisCo achieving 100% collection efficiency while Kaduna DisCo lagged at just 45.67%. The data underscores a critical trend of tightening revenue recovery under existing tariffs,

Economy/Business

Replacement of FIRS with NRS 'll overhaul revenue administration – Adedeji

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Nigeria’s tax authority has been fundamentally restructured, replacing the FIRS with a new Nigeria Revenue Service (NRS) to enact a complete institutional overhaul. This transformation centralizes fragmented functions into a modern, digital, and intelligence-driven system designed to boost efficiency and transparency. The NRS leadership has clarified that the legally binding reforms aim to shift the tax burden from capital and poverty to prosperity and profits, targeting an improved tax-to-GDP ratio. This strategic pivot is a critical component of the federal

Economy/Business

2026 budget well-planned instrument to solidify Tinubu's reform agenda – Minister

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The 2026 budget is positioned as a strategic tool to consolidate President Tinubu’s economic reforms, which the government claims are already showing early positive results like easing inflation and growing reserves. Beyond fiscal policy, the administration emphasizes direct interventions—including student loans, CNG transport initiatives, and major infrastructure projects—to translate macroeconomic gains into tangible public prosperity. A core pillar of this strategy is rebuilding public trust through transparent communication about both progress and ongoing challenges. The government also points to recent security successes and enhanced

Economy/Business

Mbah urges workers' support to achieve 2026 IGR projection

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Governor Peter Mbah has set an extraordinarily ambitious target of N870 billion in internally generated revenue for Enugu State in 2026, requiring a daily collection of N2.5 billion. He explicitly identifies the state’s civil servants as the critical “engine room” for achieving this goal, linking their daily discipline and collaboration directly to the administration’s success or failure. The governor frames this massive fiscal effort as a necessary buffer against global economic shocks, urging a collective focus on service and accountability. This

Economy/Business

BIPC takes delivery of 166 retailers' chillers.

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The Benue Investment and Property Company (BIPC) has secured 166 industrial chillers to enhance the retail distribution of local beverages, directly addressing supply chain inefficiencies and growing market demand. This strategic infrastructure investment, part of a larger delivery including bottles and equipment, underscores a committed state-level initiative to scale domestic production and ensure product availability. The move signals a tangible push to bolster local manufacturing and stabilize the consumer supply chain from production to point-of-sale.

Economy/Business

Court gives EFCC go-ahead to temporarily freeze N30.7m linked to alleged NNPC fraud

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A Nigerian court has granted an interim forfeiture of N30.7 million linked to alleged fraud within the state oil company (NNPC/NNPCL), signaling active judicial pursuit of illicit funds even without a criminal conviction. This action, based on the Advance Fee Fraud Act, represents a strategic use of non-conviction-based asset recovery to seize suspected proceeds of unlawful activities. The case underscores ongoing systemic corruption challenges within Nigeria’s pivotal energy sector, despite its recent corporatization. The court has mandated

Economy/Business

'Tinubunomics' not designed for instant abundance — Budget Office DG

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The Nigerian government’s “Tinubunomics” reforms are a long-term fiscal restructuring, not a short-term stimulus, designed to correct foundational public finance errors. A senior official argues that widespread criticism is based on a fundamental misreading of national accounts, where borrowing is mistaken for income and federation-wide revenues are incorrectly presented as federal discretionary cash. Key reforms like subsidy removal aim to close fiscal leaks and reduce deficit pressure over time, not generate an immediate pool of spendable money, while much of the apparent

Economy/Business

Tax Reforms: strategy, timing, trust will determine success – CPPE

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The success of Nigeria’s ambitious tax reform hinges not on its sound legislative design but on its politically sensitive and economically realistic implementation. Given current economic fragility and public reform fatigue, a rigid, enforcement-heavy approach risks triggering resistance and eroding trust before benefits materialize. While the framework offers commendable pro-welfare and private-sector relief provisions, its ultimate credibility depends on being treated as an adaptive process, not a one-off event, with careful sequencing to align with social and economic realities.

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