Business

Investors in the Nigerian equity market lost another N478 billion at the close of trading on Tuesday to continue their bearish sentiment. This follows the fall in stock prices, including PZ, CWG and ABC Trans, on the stock exchange floor. The benchmark All-Share Index (ASI) fell to 246,686.66 points from 247,560.66 points the previous day. After five hours of trading …

Former Jigawa State governor, Sule Lamido, and the Economic and Financial Crimes Commission on Tuesday disagreed on the competency of a subpoenaed witness presented in his ongoing trial over alleged money laundering charges of N1.35 billion. The disagreement occurred before Justice Ijeoma Ojukwu of the Federal High Court, Abuja, during the continuation of proceedings in the long-running case in which …

By Ayo Kehinde Prices of major staple foods fell significantly in April 2026, offering consumers some relief from persistent cost of living pressures as food inflation continued to moderate across Nigeria. Data from the Bureau of National Statistics (NBS) showed that the average sold price of white garri fell by 39.86% year-on-year, while brown beans saw an even steeper decline …

The Chairman of the Presidential Fiscal Policy and Tax Reforms, Mr Taiwo Oyedele, on Tuesday disclosed that the administration of President Bola Tinubu was working to reduce taxes from the current 62 to a maximum of nine, to create a more business-friendly environment in the country. Oyedele, disclosed this at the 2023 annual conference of Institute of Chartered Accountants of …

Lynn Austin, American author of numerous Christian fiction novels and winner of numerous awards, once said: “Bitterness is like a weed. Remember how difficult it always was to pull out thistles once they took root? Remember how deep those roots grow, and how if you pulled off the end, the plant would grow right back? You have to dig deep. …

The National Bureau of Statistics said prices of tomatoes, pulses, garri, onions, ginger and other food items recorded a month-on-month increase in April 2026. The NBS stated this in its Selected Food Price Monitoring report for April 2026, released in Abuja on Tuesday. The report shows that the average price of 1kg of tomatoes increased by 6.60 percent on a …

The Central Bank of Nigeria (CBN) revealed that the country is spending $2.34 billion on food imports in 2025, with the second quarter of this year recording higher demand. The Apex Bank revealed the data in its latest quarterly statistical bulletin on sectoral foreign exchange utilization, which shows that the country is still heavily dependent on imported foodgrains. Data analysis …

The federal government has abolished the long-standing practice of placing civil servants on compulsory leave before retirement, declaring that such a provision does not exist under the Civil Service Rules. The directive, issued by the Federation’s head of the Civil Service, Didi Walson-Jack, orders all ministries, departments and agencies to immediately end the widely adopted three-month terminal leave for civil …

By Victor Osula, Abuja The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has assured industry stakeholders that Nigeria’s crude oil and gas production remains stable and unaffected despite the ongoing nationwide strike by workers protesting against the commission’s foreign training policy. The commission gave the assurance on Monday after members of the Petroleum and Natural Gas Senior Staff Association of Nigeria …

Nigeria’s banking industry appears to be booming, largely driven by the policies of the Central Bank of Nigeria (CBN), under the leadership of Governor Olayemi Cardoso, while the real economy continues to experience sluggishness. At a time when millions of Nigerians are increasingly slipping into poverty, when inflation continues to erode household incomes, when the business world is collapsing due …