Abuja, July 28, 2025 — Prominent economists have raised concerns over Nigeria’s persistent productivity gap, despite the recent rebasing of the Gross Domestic Product (GDP) which has expanded the nation’s economic output to ₦372.8 trillion. The rebasing exercise, carried out by the National Bureau of Statistics (NBS), reflects a broader and more current assessment of
Abeokuta, July 27, 2025 — In a monumental stride toward industrial transformation, Ogun State is set to become home to the largest garment manufacturing facility in the world, following a landmark $2.25 billion (₦3.375 trillion) investment agreement with ARISE Integrated Industrial Platforms (ARISE IIP). The development was confirmed by state authorities and ARISE IIP officials
Abuja, July 26, 2025 — The Nigeria Inter-Bank Settlement System (NIBSS) has reported that the number of active bank accounts in the country surged to 320 million as of March 2025, reflecting a steady rise in financial inclusion and digital banking adoption. According to data published by the agency, the increase marks a significant growth
Dangote Cement yesterday announced a stellar pre‑tax profit of ₦418 billion for the second quarter ended June 30, 2025, marking a remarkable 230‑percent surge year‑on‑year over Q2 of 2024. In a statement issued from its Lagos headquarters, the cement giant attributed this dramatic jump to a combination of strategic pricing, especially in the Nigerian market, and
BUA Cement Plc has stunned investors with a staggering 510.6 per cent surge in pre-tax profit for the second quarter of 2025, driven by booming cement sales and a significant windfall from foreign‑exchange gains. For the period, the company recorded ₦289 billion in revenue from cement alone, reflecting strong domestic demand and effective price management.
Nigeria’s cashless economy continues to gather steam as the total value of electronic payment transactions in the first quarter of 2025 soared to an impressive ₦284.9 trillion. This marks a significant increase compared to previous quarters, underscoring the country’s accelerated adoption of digital financial services across retail, corporate, and government sectors. According to the latest
Lagos, Nigeria, July 25, 2025 – The National Bureau of Statistics (NBS) has released the Gross Domestic Product (GDP) data for the first quarter of 2025, highlighting the major sectors driving Nigeria’s economy amid ongoing fiscal reforms and policy adjustments under President Bola Ahmed Tinubu’s administration. According to the report, the agricultural sector maintained its
ABUJA, July 25, 2025 – The Federal High Court in Abuja has granted the Federal Inland Revenue Service (FIRS) the legal backing to collect Value Added Tax (VAT) on food deliveries made through ride-hailing and logistics platforms, including Bolt Food. In the ruling delivered on Wednesday, Justice N.E. Maha affirmed the statutory powers of the
BENIN CITY, July 25, 2025 – Okomu Oil Palm Company Plc has posted a staggering second-quarter profit of ₦34.841 billion for the period ended June 30, 2025, marking a 459% increase from the ₦6.23 billion recorded in the same period last year. The impressive growth, which beat analysts’ forecasts, is attributed to strong revenue performance,
ABUJA, July 25, 2025 – The much-anticipated $2.8 billion Ajaokuta-Kaduna-Kano (AKK) gas pipeline is finally set for mechanical completion in November 2025, following three deferments and years of intensive construction work. The 614-kilometre gas transportation infrastructure, one of the most ambitious energy projects in Nigeria’s history, has reached over 86 percent completion, according to project
