Business & Economy - Page 59

Yinka Olajoyetan, Lagos  Financial services company First Holdco Plc has completed the divestment of merchant bank business FBNQuest Limited, according to an official statement. The financial services group said in a disclosure on the Nigerian Exchange that, in line with Rulebook, it

The NGX All-Share Index fell by 0.14 per cent to 143,520.53, while market capitalisation closed at N91.286.p trillion for the week. This compared with 143,722.62 points and N91.415 trillion recorded in the previous week, reflecting weaker sentiment across the market. The News

Lagos State Governor, Babajide Sanwo-Olu, has revealed a significant drop in rice prices across the market, stating that he is personally ready to sell Lagos-produced rice for ₦57,000 to ₦58,000 per 50kg bag. Speaking at the 60th Annual Bankers’ Dinner of the

By Martha Agas Experts have renewed calls for Nigeria to develop local Artificial Intelligence tools to strengthen data privacy and protect African digital resources from external misuse. The call was made during the AI Summit organised by the Centre for Journalism, Innovation

MPC expresses satisfaction with banking system stability amid recapitalisation drive The Central Bank of Nigeria (CBN), has confirmed that 16 banks have fully met the revised regulatory capital requirements, marking a significant milestone in the country’s ongoing banking sector recapitalisation programme. Olayemi

The National Bureau of Statistics (NBS) said the aggregate Value Added Tax (VAT) stood at N2.06 trillion in Q2 2025. This is according to the VAT Q2 2025  Report released in Abuja on Tuesday. The report shows a decrease of 0.03  per

The Bureau of Public Procurement (BPP)  and ICAN  have called for a robust partnership to enhance professionalism and bridge the gaps in the nation’s public procurement system. This is contained in a statement issued by BPP’s Head, Press and Public Relations, Zira

BY BLAISE UDUNZE Obviously, one would say that the macroeconomic indicators are finally pointing in the right direction, yet, daily realities for households and businesses tell a very different story because Nigeria stands at a delicate intersection. No doubt on paper, inflation

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has declared a Profit After Tax (PAT) of N5.4 trillion on a revenue of N45.1 trillion for its financial performance for 2024. This signifies a 63.6 per cent increase from N3.3 trillion PAT recorded

The Nigerian Maritime Administration and Safety Agency (NIMASA) has released a pioneering Public Private Partnership (PPP) model for maritime decarbonization with the launch of the Nigerian Maritime Continuous Emissions Monitoring System at the 2025 UNFCCC COP 30 in Belém, Brazil. The Agency