E-Invoicing: Manufacturers' VAT Recovery Tied to Supplier Compliance
Under Nigeria's new e-invoicing system, manufacturers' input VAT recovery depends on suppliers' compliance, creating financial risks if vendors fail to onboard.
Category : Business
Quackery Threatens Construction Value Chain Development
Stakeholders blame unqualified workers for building collapses, call for stricter laws and professional control in Nigeria's construction sector.
CAP PLC Launches Spruce Mid-Tier Paint Brand
CAP PLC unveils Spruce, a new mid-tier paint brand under Dulux, targeting Nigeria's demand for affordable, quality paint solutions.
Indigenous Oil Firms Evade Niger Delta Clean-Up Funding
Indigenous oil companies and refineries have failed to contribute to Niger Delta clean-up, despite legal obligations, threatening long-term funding of the $6 billion programme.
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Nigeria Becoming Africa’s Largest Fintech Hub, Says VC
Vice Chancellor Olu Akinkugbe of James Hope University says Nigeria is rapidly emerging as Africa’s largest fintech hub, with over 430 startups and a sector valued at over $10.6 billion.
TCN Boosts Abuja Power with 300MVA Transformer Upgrade
TCN has commissioned a 300MVA transformer at Katampe Substation, increasing capacity from 450MVA to 750MVA to improve electricity supply in Abuja.
Griffin Capital Launches Integrated Finance Platform
Griffin Capital Group unveils a fully integrated financial services platform in Nigeria, combining investment banking, asset management, lending, and insurance under one structure to boost capital mobilization.
12 of World's 20 Fastest Growing Economies in Africa: AfDB
The African Development Bank says 12 of the 20 fastest-growing economies globally are in Africa, with GDP growth projected at 4.5% in 2026 despite global challenges.
Fidelity Bank Gross Earnings Rise 38% in Q1 2026
Fidelity Bank Plc reported a 37.9% increase in gross earnings to N434.95 billion in Q1 2026, driven by strong interest income growth. Profit before tax stood at N92.48 billion.
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Nigeria housing deficit nears 28 million units
Lagos State Government warns Nigeria's housing deficit could hit 28 million units without urgent intervention. Over 15 million homes are substandard.
12 of World's Top 20 Fastest-Growing Economies in Africa
African Development Bank President Sidi Ould Tah announced that 12 of the world's 20 fastest-growing economies are in Africa, with GDP growth stabilizing at 4.3% in 2026.
Air Peace Acquires New Boeing 737-800NG Jet
Air Peace acquires a Boeing 737-800NG to boost capacity and launches direct Lagos-Barbados flights, enhancing connectivity and passenger comfort.
Private Sector Credit Drops 15% on Political Risks
Private sector credit in Nigeria fell by 14.8% (N14 trillion) from February to April 2026, despite a surge in banking liquidity, raising concerns over investment and job creation.
Equities dip N889bn ahead of Eid-ul-Adha holiday
Nigerian equities market fell by N889 billion on Tuesday ahead of the Eid-ul-Adha holiday, with the all-share index dropping 0.55% to 249,738.84 points.
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Importers Abandon Nigerian Ports for Benin as Charges Hit N20m
Importers are diverting cargoes to Benin, Ghana, Togo, and Burkina Faso due to high tariffs and poor services at Nigerian ports, with costs hitting N20 million per container.
Private investors to fund 95% of aircraft leasing firm
Minister Keyamo says 95% of Nigerian Aircraft Leasing Company will be funded by private investors and development banks, easing airline financing challenges.
Is 26 Degrees Cold in Nigeria? Understanding Temperature
26°C in Nigeria feels cool in the south and warm in the north. Learn how regional geography, season, and adaptation shape temperature perception across the country.
NIMASA Urged to Use 3% Levy for National Carrier
MARASSON urges NIMASA to use the 3% gross freight levy to establish a PPP national carrier, warning Nigeria loses billions yearly to foreign operators.
Lotus Bank Subsidises Ram Sales for Lagos Residents at Eid Souq
Lotus Bank's Eid Souq in Lagos offered subsidised rams for N20,000, drawing thousands. The event featured shopping, entertainment, and family activities.
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Tetracore Energy Starts Power Generation at Atakobo IPP
Tetracore Energy's Atakobo IPP Phase I starts 20MW power generation, distributing to industrial offtakers in Ogun State, with plans to expand to 100MW.
NIWA warns boat operators ahead of Eid-el-Kabir
NIWA warns boat operators to follow safety rules during Eid-el-Kabir, threatening arrest and boat seizure for violations like overloading and night travel.
FG Approves 50% Train Fare Discount for Eid-el-Kabir
The Federal Government has approved a 50% discount on all NRC train services to ease transportation costs during Eid-el-Kabir, effective May 26 to June 1, 2026.
Wema Bank Names 10-Year-Old as One-Day MD/CEO Winner
Wema Bank appoints 10-year-old Chinmamanda Diamond Ozoakpata as winner of its 2026 One-Day MD/CEO Children's Day initiative, promoting financial literacy and leadership among Nigerian children.
AXA Mansard Insurance Q1 Revenue Up 20% Despite FX
AXA Mansard Insurance reports 20% revenue growth to ₦48.46 billion in Q1 2026, but profit dips 42% due to foreign exchange losses from naira appreciation.
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Eid-el-Adha: LASWA Warns Commuters, Boat Operators on Safety
LASWA has cautioned commuters and boat operators to prioritize safety on Lagos waterways during Eid-el-Adha and the rainy season, urging daylight travel and life jacket use.
Private Investors to Fund 95% of New Aircraft Leasing Firm
Nigeria's aviation minister says private investors and development banks will provide 95% of funding for a new aircraft leasing company, with FG offering sovereign guarantees.
FG Approves 50% Train Fare Discount for Eid Al Adha 2026
Nigeria's federal government approves 50% fare discount on NRC train services for Eid Al Adha 2026 to ease transportation costs. Discount runs May 26 to June 1.
Fintiri warns LG chairmen on tractor diversion
Adamawa Governor Fintiri warns local government chairmen against misuse of tractors, stressing accountability and transparency in agricultural interventions for food security.
Stakeholders Seek Carbon Finance for Clean Cooking in Nigeria
Stakeholders urge carbon finance to subsidise clean cooking as LPG costs force Nigerians back to wood and charcoal, causing health and environmental crises.
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Monica Cash: Zero-Fee Bitcoin to Naira Withdrawals in Nigeria
Monica Cash offers zero-fee Bitcoin to Naira withdrawals as Nigerians seek lower transaction costs. The platform supports BTC, USDT, ETH, and more.
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