Author: Ogochukwu Ndubuisi

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.

The Nigerian Exchange (NGX) All-Share Index rebounded on Friday, as Tier-1 bank and Lafarge Africa stocks halted the downtrend in the local bourse after 4 days.

Nigeria’s Total Capital Importation Rises to $10.37bn in Q1 2026 The National Bureau of Statistics(NBS), says the total capital importation into Nigeria stood at 10,371.90 billion dollars in quarter one (Q1) 2026. The NBS said this in its Nigeria Capital Importation Q1 2026 report released in Abuja on Friday. The report said the Q1 figure was higher than the 5,642.07 billion dollars recorded in Q1 2025, indicating an increase of 83.83 per cent on a year-on-year basis. “When compared to the preceding quarter, capital importation also increased by 60.97 per cent from 6,443.48 billion dollars in Q4 2025.” It said…

Brent topped $95 per barrel on Friday amidst tighter US sanctions against Russia and persistent geopolitical risks. Meanwhile, hopes for diplomatic progress between Washington and Tehran tempered further gains.

Africa Finance Corporation (AFC) has successfully raised a record US$2 billion syndicated loan, underscoring strong global investor support for the rapid buildout of integrated infrastructure and industrial platforms shaping Africa’s next phase of economic growth.

The Nigerian equities market extended its bearish run on Thursday, with the All-Share Index declining 0.37% to settle at 242,227.31 points.  The local bourse shrank as sell pressure persisted for four days straight, in what some stockbrokers now call a price correction after a fast-and-furious rally.