Nigeria Tax System Needs Global Alignment, Expert Says
Tax expert Olayinka Oyebola urges Nigeria to align its tax system with global standards to boost compliance, efficiency, and economic competitiveness at CITN conference.
Category : Business
Togo Removes Visa Requirements for All African Nationals
Togo has eliminated visa requirements for all African citizens visiting for up to 30 days, aiming to boost continental integration and mobility.
Wema Bank Closes Children’s CEO Contest Entries May 20
Wema Bank announces final call for entries in its One-Day MD/CEO competition for children, with submissions closing May 20, 2026. Winner to lead bank on May 25.
Edo Takes Delivery of 50 CNG Buses for Transport Relief
Edo State receives 50 CNG buses to improve transportation across three senatorial districts, with 50 more expected. Commissioner Kassim Afegbua urges residents to support policies and stop indiscriminate dumping to curb flooding.
Nigeria's Crude Oil Hits $116, Surpasses Brent and WTI
Nigeria's premium crude grades, Brass River and Qua Iboe, surge past $115 per barrel, outperforming Brent and WTI, boosting the Tinubu administration's revenue.
Abdulsamad Rabiu Overtakes South African Billionaire
Nigerian billionaire Abdulsamad Rabiu surpasses Johann Rupert to become Africa's second richest man with $16.1 billion, behind Aliko Dangote's $32.3 billion.
Naira Weakens to N1,373.70/$ as Dollar Inflow Declines
The naira depreciated to N1,373.70/$ amid persistent FX demand. FX turnover rose to $76.3 million but remained insufficient. Oil production increased to 1.49 million bpd.
Tony Elumelu Targets Seplat Board Seat After $500 Million Deal
Tony Elumelu is set to join Seplat Energy's board as a Non-Executive Director after Heirs Energies acquired a 20% stake for $500 million. Shareholders vote on May 20, 2026.
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How salary earners, business owners can get tax ID in Nigeria
Learn how salary earners and business owners in Nigeria can obtain their Tax Identification Number (TIN) online or physically, using NIN or BVN, as part of the new mandatory tax ID system.
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Nigeria Could Be 5th Richest Economy by 2076: ECOWAS
ECOWAS predicts Nigeria could become the world's fifth-largest economy by 2076, driven by regional trade and integration, not Western markets.
Stanley Uzochukwu Completes Oxford, Harvard Executive Programmes
Stanley Uzochukwu, CEO of Stanel Group, completed executive programmes at Oxford and Harvard, strengthening his global leadership profile and expanding Nigeria's business landscape.
Lagos State Plans to End Electricity Band Classification
Lagos State Government moves to scrap Band A-E electricity classification, aiming for uninterrupted 24-hour power supply for all residents under new reforms.
Cooking Gas Prices Near N1,500 per Kg, New Rates Released
Nigerian households face rising cooking gas costs as crude oil prices soar, with retail rates approaching N1,500 per kilogram amid global supply tensions.
Dangote Refinery Cuts Aviation Fuel Price to N1,650
Dangote Refinery reduces Jet A1 price from N1,750 to N1,650 per litre, introduces 30-day credit facility and naira-based pricing to ease airline costs.
SWC Brings Proven Human First Model to Africa
Sky World Community (SWC) is an international multi-project ecosystem built on Human First, with two commercialized projects, including one directly benefiting Africa.
ELFBAR Pod Systems Win German Design and CMF Awards
ELFBAR's ELFX and ELFA pod systems have won the German Design Award and International CMF Design Awards, highlighting their refined industrial design and reusable approach.
Qoray Launches Dealer-Owned Electric Mobility Franchise
Qoray Mobility & Energies Limited has launched a dealer-owned electric mobility franchise model to expand clean last-mile transportation in Nigeria, empowering local entrepreneurs.
EU, AFD Boost Lake Chad Basin Recovery Through RESILAC 2
The EU and AFD are strengthening resilience and economic recovery in the Lake Chad Basin via the RESILAC 2 project, targeting 125,800 beneficiaries across Cameroon, Nigeria, and Chad.
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Marketers Oppose Dangote Refinery's Fuel Import License Lawsuit
Petrol marketers reject Dangote Refinery's lawsuit to revoke fuel import licences, warning against monopoly and supply risks in Nigeria's downstream oil sector.
Bassey Demands Environmental Audit of Niger Delta Now
Dr Nnimmo Bassey calls for immediate environmental audit of Niger Delta, as stakeholders demand PIA review. He warns of oil spill scale comparable to Deepwater Horizon disaster.
US, China Lead Top 10 Strongest Economies in 2026 as AI Reshapes Wealth
Global economic forecasts for 2026 show the US leading with $32.1 trillion GDP, followed by China. AI and technology are reshaping global wealth, with India emerging as a fast-growing economy.
Lagos Approves FlexxyDrive for E-Hailing Operations
FlexxyDrive secures Lagos approval to start e-hailing services with zero-commission model for drivers, expanding in Nigeria and Germany.
Nigerian Stock Market Opens Week with N80.81bn Loss
The Nigerian stock market started the week with an N80.81 billion loss as investors engaged in profit-taking across banking, consumer goods, industrial, and insurance sectors.
MultiChoice Bets on DStv Stream and Fintech for Survival
MultiChoice shifts focus to DStv Stream and fintech Moment after Showmax shutdown, with streaming subscribers surging 139% and Moment processing $635 million in 2025.
Nigeria Customs launches digital baggage system to end delays
Nigeria Customs Service introduces SCADS, a digital baggage clearance platform at Abuja airport, to eliminate passenger delays and automate duty assessment.
Zenith, UBA, GTCO, First Holdco Generate N570tn in 2025
Four major Nigerian banks processed N570.17 trillion in electronic transactions in 2025, led by Zenith Bank and UBA, amid fintech competition.
Dangote Refinery Cuts Aviation Fuel Price by N100
Dangote Refinery reduces Jet A1 price to N1,650 per litre, offering relief to airlines amid rising operational costs and hopes for lower ticket prices.
Dangote Refinery vs FG: 5 Key Issues in Petrol Import Battle
A fresh legal battle between Dangote Refinery, the FG, and fuel marketers over petrol import licences reignites debate on Nigeria's downstream petroleum sector.
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Nigeria Makes Tax ID Mandatory for All Citizens
The Federal Government has introduced a mandatory Tax Identification Number for all Nigerians to access essential services, aiming to broaden the tax base and streamline revenue collection.
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Dangote cuts jet fuel price to ₦1,650, offers airlines credit
Dangote Refinery reduces aviation fuel price from ₦1,750 to ₦1,650 per litre, introduces 30-day interest-free credit and naira-based pricing to support Nigerian airlines.
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