Business

The federal government has unveiled the Nigerian Industrial Policy (NIP) aimed at driving value addition, industrial growth, employment creation across the country, and ensuring that the manufacturing sector contributes up to 25 percent to the nation’s Gross Domestic Product (GDP). Minister of State for Industry, Senator John Enoh, stated this at the soft launch of the […]

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By Yinka Kolawole The federal government, through the Presidential Committee on Fiscal Policy and Tax Reforms, has highlighted some of the incentives in the new tax laws aimed at boosting the manufacturing sector in Nigeria. Speaking at a stakeholders engagement with the Manufacturers Association of Nigeria (MAN) themed, “From Legislative Assembly to Factory Floor: What the […]

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By Babajide Komolafe Businesses across key sectors of the   economy are grappling with prohibitive borrowing costs as maximum lending rates charged by banks rose   to as high as 46 per cent. Vanguard analysis of banks’   deposit and lending rates published by the Central Bank of Nigeria (CBN)   show that while prime lending rates largely hovered between […]

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…As GenCos frown over 33.6% deficiency in evacuation By Mariam Eko Nigeria’s power supply crisis seems to be unabated as stranded electricity generation capacity rose by 1.19 per cent to 2,275 megawatts, MW, over a five-year period, highlighting persistent weaknesses in the country’s transmission infrastructure and worsening liquidity challenges across the power value chain. Operational data […]

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By Babajide Komolafe Banks have recorded an increase in loan defaults by households and corporates  in the fourth quarter of 2025, reflecting growing repayment pressures on consumers and businesses. “The Central Bank of Nigeria’s (CBN) disclosed this in its Credit Conditions Survey (CCS) Report for Q4 2025, which revealed that lenders experienced higher default rates on […]

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By Udeme Akpan, Energy Editor The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the oil and gas industry regulator, said Nigeria’s oil output, including condensate, dropped significantly by 8.3 percent year-on-year (YoY) to 1.544 million bpd in December 2025 from 1.684 million recorded in the corresponding period of 2024. The Commission did not provide reasons in its […]

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