Business & Economy - Page 20

Africa’s largest financial institution, Standard Bank Group, has strongly reaffirmed its commitment to driving the growth of Dangote Industries Limited, pledging full backing for the highly anticipated public listing of the Dangote Petroleum Refinery. ​In addition to supporting the equity listing, the

The International Monetary Fund (IMF) has raised a red flag over the Tinubu administration’s plans to secure a $5 billion financing package from a United Arab Emirates (UAE) lender, warning that the complex arrangement could expose the country to hidden economic risks.

By Kunle Odusola-Stevenson For decades, the playbook for the African oil and gas sector followed a predictable script. Multinational titans—the historical International Oil Companies (IOCs)—extracted crude from the continent’s rich subsurface, while local indigenous firms operated on the margins, constrained by a

The Abuja Chamber of Commerce and Industry (ACCI) has rescheduled its Agricultural Mechanisation for Export-Quality Products in Africa (AGROMEQA) EXPO 2026 to November. The ACCI President, Chief Emeka Obegolu, disclosed this in a statement by the chamber’s Media and Strategy Officer, Mrs

A tax compliance expert has warned that large businesses with annual turnover of N5 billion and above risk penalties from July 1, if they fail to comply with the electronic invoicing (e-invoicing) mandate. The Country Director of DigiTax Nigeria, Mr Olumide Akinsola,

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has officially launched the Payments Systems Vision 2028 (PSV 2028). The ambitious blueprint is designed to accelerate Nigeria’s transition into a secure, cashless economy while fostering sustainable economic growth. ​The PSV

The National Bureau of Statistics (NBS) says Nigeria’s total merchandise trade stood at N34,788.59 billion in the first quarter of 2026. This is according to the NBS Foreign Trade in Goods Statistics Report for Q1 2026 released in Abuja on Monday. This

The Federal Ministry of Finance has approved payment to more than 1,240 contractors, providing immediate liquidity support to businesses across the country. The Federal Government also noted commitment to meeting its financial obligations. This is s contained in a statement issued by

United Capital Plc. has secured investment banking licences in Ethiopia and Rwanda, marking a significant milestone in its expansion across Africa. In a statement on Monday, the company said that the approvals made it the first foreign institution licensed to provide investment

By Rukayat Moisemhe The Centre for the Promotion of Private Enterprise (CPPE), an NGO, has urged the House of Representatives to reject the sugar-sweetened beverage tax bill, describing it as ill-timed and insensitive to prevailing economic realities for manufacturers. The Chief Executive