The Federal Government has approved tax waivers for 107 companies, including major players such as Dangote Group and Mikano International Limited, under its Pioneer Status Incentive (PSI) scheme. The move, aimed at spurring investment and driving economic growth, was confirmed in the latest report by the Nigerian Investment Promotion Commission (NIPC). According to the NIPC’s
In a bid to prioritize passenger safety and adhere to international aviation standards, Air Peace, one of Nigeria’s leading airlines, has announced the temporary grounding of all its flights nationwide. The decision comes in response to the ongoing strike action by the Nigerian Meteorological Agency (NiMET) staff, which has significantly impacted the airline’s ability to
Nigeria has taken its economic reform agenda to the global stage, as the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, leads a high-powered delegation to the ongoing Spring Meetings of the International Monetary Fund (IMF) and the World Bank in Washington, D.C. The country is using the platform to
Petroleum marketers across the country are grappling with significant losses following a fresh reduction in the pump price of Premium Motor Spirit (PMS), popularly known as petrol, by the Nigerian National Petroleum Company Limited (NNPC Ltd). The state-owned oil firm has cut the retail price of the product to N880 per litre in Lagos and
The Nigerian manufacturing sector is currently under immense pressure as the value of unsold finished goods surged to an alarming N2.14 trillion in 2024, a sharp 87.5 per cent rise compared to the previous year. The Manufacturers Association of Nigeria (MAN), which disclosed the figures in its economic review for the second half of the
As President Trump intensifies his “America First” trade agenda in 2025, trading partners are grappling with how to navigate a wave of new U.S. tariffs and unpredictable negotiating tactics. Since returning to office, Trump has imposed sweeping tariffs on aluminum, steel, cars, and a variety of imports from countries with trade deficits with the U.S.,
Top-tier event management outfit, Laurel Events Limited, has announced plans to host a high-impact Business Forum aimed at equipping entrepreneurs and industry professionals with strategic tools for business growth, operational excellence, and sustainable corporate culture. The event, tagged Laurel Business Forum (LBF 2025), is scheduled to take place on Tuesday, April 29, 2025, at Darlington
A wave of unrest has swept through Itasa, a quiet agrarian town in Iwajowa Local Government Area of Oyo State, as indigenes, traditional authorities, youth groups, and concerned stakeholders have risen in unison to demand the immediate withdrawal of a mining company, Architype Industries Nigeria Limited, from their land. The community has accused the company
In a strategic move to deepen public understanding of national economic data, the National Orientation Agency (NOA) has partnered with the National Bureau of Statistics (NBS) to drive inclusive awareness on the ongoing rebasing of Nigeria’s Gross Domestic Product (GDP). The collaboration was formally presented during a sensitisation event aimed at demystifying the rebasing process
Nigeria’s economic growth in 2025 may experience a setback due to a newly imposed 14 percent reciprocal tariff by the United States on Nigerian imports. This is highlighted in the latest ‘Nigeria Economic Outlook – April 2025’ report released by PricewaterhouseCoopers (PwC). The tariff is part of a broader set of measures, referred to as
