Business

Strong indications emerged at the weekend that prices of Premium Motor Spirit (PMS), popularly called petrol, may crash further in 2025. Industry experts, who spoke to Saturday Sun, noted that petrol, which…

A judge in Abuja has ordered banks to freeze 21 bank accounts because of suspected money laundering. The judge also ordered the police to arrest the people who own these accounts. This happened on Friday after the…

When Tolu Abolaji’s phone got damaged and needed replacement, a friend wanted her to take a loan from her bank. After buying the phone, she…

Nigeria’s economy experienced a 3.01 percent increase in foreign exchange inflows, rising to $22.89 billion in Q3 2024 from…

TELECOMMUNICATIONS operators said they made a proposal of 100 per cent tariff hike to the regulator, the Nigerian Communications Commission (NCC) in their plea for hike in tariffs on services offered including voice,…

Propelled by the economic relief provided by President Bola Ahmed Tinubu's crude-for-naira swap initiative, two prominent players in Nigeria's…

The Managing Director of Financial Derivatives Company Limited, Bismarck Rewane, has described President Bola Tinubu’s 15% inflation target for 2025 as “aspirational” and “bullish”. The economist stated this…

BY the end of the year, all commercial, merchant, and non-interest banks would have just…

Nigerian companies faced funding squeeze in 2024 as investors flocked to high-yielding government debt instruments. According to data from FMDQ, the total number of company issuances in 2024 decreased to…

…Demand from Ghana, Ivory Coast rising …Festivities drive local purchases …Low-yield seedlings stunt output growth It is a happy time for onion farmers who have seen the price of their product jump by…

The Federal Government has kicked-off the implementation of the 2024 Withholding Tax Regulations. The new regulations, approved in July last year and put into the gazette in October, took effect yesterday.…

Telecommunications subscribers have vehemently rejected a proposed 40 per cent telecom service tariff hike in Nigeria expected to kick off in 2025. The National Exco of the National Association of Telecoms…

President Bola Tinubu has again said that his administration is focused on reducing inflation from 34.6 percent to 15 per cent by 2025. Addressing Nigerians in a New Year Day broadcast, the president said the…

Amid rising insecurity and other macroeconomic challenges, the Nigerian equities market witnessed remarkable growth in 2024, returning N22 trillion gain to investors. The Nigerian stock market, which started the…

Yesterday, the Naira appreciated N1,650 per dollar in the parallel market, compared to N1,655 on Monday. Similarly, the Naira appreciated to N1,535 per dollar in the official foreign exchange market. Data…

The Nigeria Labour Congress, NLC, yesterday insisted on the withdrawal of the Tax Reform Bills forwarded by President Bola Tinubu to the National Assembly for passage to enable all key national stakeholders to be…

The Chairman, Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele has said that illicit funds in Nigeria such as laundered money or proceeds of crimes will also be taxed under the controversial tax…

Linda Yaccarino, the chief executive officer (CEO) of X, formerly Twitter, has announced that the social media platform will launch a payment system called X Money in 2025. In a statement on X on Tuesday, Yaccarino…

The Central Bank of Nigeria (CBN) said that Nigeria’s Broad Money Supply (M2) increased by 51% year-over-year (YoY) to N108.96 trillion in November 2024 as a result of the Federal Government’s increased borrowings. The…

Ardova Plc has agreed to a bulk purchase framework with Dangote Refinery. This is in a bid to guarantee supply security at affordable prices for its customers. This framework will see Ardova Plc offtake a full…

Heineken Lokpobiri, minister of state for petroleum resources (oil), says the federal government has plans to achieve a target of three million barrels per day (bpd) in crude oil production by 2025. Lokpobiri spoke on…

FirstBank, the oldest bank in Nigeria and part of FBN Holdings’ entities has exited close to 100 senior staff members in what our sources…

West Power and Gas Ltd (WPG), the parent company of Eko DisCo, Nigeria’s second-largest distribution company (DisCo), is close to…

The World Bank has disbursed a $1.5 billion loan to Nigeria under the Reforms for Economic Stabilisation…