Otedola expands stake in FirstHoldCo with additional N14.8bn share purchase
Nigerian billionaire investor, Femi Otedola, has increased his stake in FirstHoldCo Plc following an additional share purchase valued at ₦14.8 billion. The move further strengthens his position as one of the most influential shareholders in the financial holding company, which oversees First Bank of Nigeria and other subsidiaries. Market filings show that the latest transaction […]
Mahdi Shehu goes hard on new tax law
Mahdi Shehu, a well-known public affairs analyst, has strongly criticised Nigeria’s newly introduced tax law, describing it as harmful to ordinary citizens and small businesses. According to him, the law places more financial pressure on people who are already struggling with the high cost of living. Shehu warned that poorly designed tax policies could worsen […]
New tax laws: ‘Impeachable offence’ – Nigerians react as lawmaker, Dasuki alleges alteration
Strong reactions have followed the passage of Nigeria’s new tax laws after a lawmaker, Dasuki, alleged that key parts of the bills were altered. The claim has triggered public anger, with many Nigerians questioning the transparency of the legislative process. Social media platforms were flooded with criticisms, as citizens demanded clarity on how the final […]
Dangote vs Farouk: CSO storm ICPC, EFCC Abuja offices, demand swift action
A civil society organization (CSO) has staged a protest at the offices of the Independent Corrupt Practices Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC) in Abuja. The group demanded immediate action regarding allegations involving Dangote and Farouk. The demonstrators carried placards and chanted slogans calling for transparency, accountability, and justice. They urged […]
Ship calls at Nigerian ports jump to 8.5% as cargo hits 33.5m MT in Q3
Ship traffic at Nigerian ports recorded a notable increase in the third quarter, with vessel calls rising by 8.5 percent. During the same period, total cargo handled across the ports reached about 33.5 million metric tonnes, showing steady growth in maritime activities and trade flow. Industry data indicates that the rise in ship calls reflects […]
Borrow responsibly – Debt Management Office instructs states
The Debt Management Office (DMO) has urged Nigerian states to borrow responsibly and ensure that loans are tied to clear development goals. The agency warned that unchecked borrowing could put pressure on state finances and limit the ability to fund essential services. According to the DMO, loans should only be taken when absolutely necessary and […]
Fuel price cut: ‘We will meet in market’ – Dangote reveals move to frustrate importers
Aliko Dangote, Nigeria’s business magnate, has revealed plans to counter fuel importers following the recent reduction in fuel prices. He emphasized that local production and competition would be key strategies to frustrate importers’ dominance in the market. Dangote stated that he is ready to meet competitors directly in the marketplace, ensuring that local refiners can […]
Trump happy with Dangote Refinery – Aliko Dangote
Business mogul Aliko Dangote has revealed that former U.S. President Donald Trump expressed satisfaction with the operations at the Dangote Refinery. According to Dangote, Trump was impressed by the refinery’s scale, efficiency, and potential impact on Nigeria’s economy. The visit highlighted the growing international interest in Nigeria’s industrial development. Dangote stated that the refinery, one […]
Naira records first appreciation against dollar after days of decline
The Nigerian naira has recorded its first appreciation against the United States dollar after several days of continuous depreciation. The local currency gained marginally at the official foreign exchange market, bringing temporary relief to businesses and individuals affected by rising exchange rates. Market observers say the improvement may be linked to recent interventions by the […]
Naira records four consecutive depreciation against US dollar
The Nigerian currency has continued to struggle, recording four consecutive days of decline against the US dollar. Reports from the financial market show that the naira weakened both at the official window and in the parallel market, raising fresh concerns about the stability of the foreign exchange system. Traders noted that rising demand for dollars, […]