Author: Ogochukwu Ndubuisi

Nigeria’s Total Trade for Q1 2026 Stood at N34.78bn – NBS The National Bureau of Statistics (NBS) says Nigeria’s total merchandise trade stood at N34,788.59 billion in the first quarter of 2026. This is according to the NBS Foreign Trade in Goods Statistics Report for Q1 2026 released in Abuja on Monday. This shows a decrease compared to the value of N37,242,903.61 billion recorded in Q1 2025 and N36,214,343.98 billion recorded in Q4 2025. The report said total exports stood at N21,169.27 billion, accounting for 60.85 per cent of total trade. The report said total exports increased by 2.77 per…

Heirs Insurance Hits 3m Policyholders Milestone in 5 Years Heirs Insurance Group says it has impacted and protected more than three million customers in its first five years of operation. Mr Niyi Onifade, the group’s Sector Head and Managing Director of Heirs Life Assurance, said this on Monday at a news conference in Lagos to commemorate the fifth anniversary of Heirs Insurance Group. He said the milestone underscored the company’s commitment to transforming the insurance industry through customer-centric services and technology-driven solutions According to him, the company, which began operations on June 1, 2021, has remained focused on addressing long-standing…

African Export–Import Bank (Afreximbank) has committed $ 83 billion to Nigeria since its inception, with a significant share invested in Lagos, as the city has secured hosting rights for the next Intra-African Trade Fair.

The Central Bank of Nigeria (CBN) raised a total of NGN4.5 trillion through OMO and Treasury bills last week, as investor demand for naira assets remains strong via primary market auctions (PMAs)

CPPE Urges Reps to Reject Sugar-Sweetened Beverage Tax Bill The Centre for the Promotion of Private Enterprise (CPPE), an NGO, has urged the House of Representatives to reject the sugar-sweetened beverage tax bill, describing it as ill-timed and insensitive to prevailing economic realities for manufacturers. The Chief Executive Officer, CPPE, Dr Muda Yusuf, made the call in a statement issued on Sunday in Lagos. The Senate had passed a Customs, Excise Tariff, etc. (Consolidation) Act (Amendment) Bill 2025, to reform excise duties on sugar-sweetened beverages. The bill also aims to strengthen public health financing and address the growing burden of…

Sugar: LCCI Urges Review of SSB Tax Bill, Warns of Impact The Lagos Chamber of Commerce and Industry (LCCI), has expressed concern over the passage of the Sugar-Sweetened Beverage (SSB) Tax Bill by the Senate. The Director-General of the LCCI, Dr Chinyere Almona, in a statement on Monday in Lagos, said that the tax could worsen challenges facing Nigeria’s manufacturing sector. Almona said that though the chamber supported efforts to address public health concerns associated with excessive sugar consumption, such interventions should not impose undue burdens on businesses and consumers. She noted that manufacturers were already grappling with high energy…

FCCPC Clarifies Position on Airtime Market Regulation, Suspends DEON Enforcement The Federal Competition and Consumer Protection Commission (FCCPC), says its position on matters relating to digital and non-traditional lending is limited to its regulatory responsibilities. This is according to the Commission is under the Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations 2025 (DEON Regulations). A statement signed by Mr Ondaje Ijagwu, FCCPC’s Director, Corporate Affairs, in Abuja on Sunday, said the Commission had, however, suspended the implementation and enforcement of DEON regulations pending the determination of a court case. Ijagwu said the suspension followed the service of an ex…

MTN Defends Data Billing System, Unveils Transparency Drive on Usage Tracking MTN Nigeria has defended its data billing system, insisting that customers’ data are neither manipulated nor stolen, as it unveiled new transparency measures to address persistent concerns over data depletion. The telecoms operator clarified a public engagement held in Lagos at the weekend, tagged “Data on Trial.” Executives, independent auditors, regulators, media professionals and digital content creators at the event examined how mobile data is consumed and billed. Chief Executive Officer of MTN Nigeria, Karl Toriola, said the event was designed to place the company’s data processes under public…

Konga CEO Advocates for Stablecoins to Accelerate Cross-Border African Trade The Chief Executive Officer of Konga Group, Prince Ekeh, has advocated for wider adoption of stablecoins to accelerate cross-border trade and eliminate payment barriers across Africa. Ekeh said, in a statement on Sunday, that stablecoins and other emerging payment technologies could help businesses overcome transaction bottlenecks, improve liquidity access and facilitate seamless commercial activities across African markets. A stablecoin is a type of cryptocurrency that aims to maintain a stable value relative to a specified asset, a pool or basket of assets. The specified asset might refer to fiat currency,…

The Nigerian Exchange Group (NGX Group) says the anticipated Initial Public Offering (IPO) of Dangote Refinery and Petrochemicals is being positioned as an African investment opportunity.