Tag: Nigeria Economy
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BUA Foods Posts 507.7bn Naira Profit After Tax for 2025 Driven by Strong Revenue Growth
BUA Foods Sees Stellar 2025 Profit After Tax Rise BUA Foods Plc has posted a remarkable profit after tax (PAT) of N507.7 billion for the year ended 31 December 2025, marking a 91% jump from N266.0 billion recorded in 2024. The surge underscores the company’s ability to translate stronger turnover into meaningful bottom‑line gains, even…
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The $20 Billion Bet: Shell’s Investment and Nigeria’s Emerging Reality
Introduction: A Signal, Not Just a Sum When a multinational like Shell commits a staggering $20 billion to a single market, it is rarely just about fuel and barrels. It is a signal about Nigeria’s evolving economic reality—a country balancing debt, reform agendas, and a population hungry for jobs and opportunity. The scale of the…
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Dangote Gifts N15b to Distributors as Cement Capacity Targets Rise to 90m T by 2030
Dangote Rewards Distributors as It Sets Ambitious Capacity Goal Nigerian conglomerate Dangote Group has announced a bold target to expand its cement production capacity to about 90 million tonnes by 2030. The plan comes as the group also acknowledged the critical role of its distribution network, rewarding key distributors with gifts valued at roughly N15…
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NBS Projects Artificial Inflation Spike Ahead of December Data Release
Overview: What the Base Effect Means for December 2025 Inflation Nigeria’s December 2025 inflation figures are expected to show an artificial spike, driven not by shifting price dynamics in the economy but by a technical base effect. The National Bureau of Statistics (NBS) has openly framed the development as a one-off statistical phenomenon tied to…
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Otedola Praises Tinubu’s Economic Insight as First Bank Hits N500bn Capital Benchmark
Otedola’s Praise and the Banking Milestone Nigerian business magnate Femi Otedola, through his investment vehicle First HoldCo, has publicly commended President Bola Tinubu for his “deep economic understanding” as First Bank of Nigeria Holdings plc announces it has met the Central Bank of Nigeria’s (CBN) N500 billion minimum capital requirement. The development signals a significant…
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The Detty December Bubble: How Nigeria is Pricing Itself Out of a Billion-Dollar Cultural Economy
Overview: The Detty December Phenomenon Detty December started as a festive season in Nigeria where cities hum with concerts, parties, and pop-up experiences. What began as a cultural sprint for end-of-year celebration has evolved into a robust, money-spinning micro-economy. It is not a formal government blueprint; it’s a cultural movement that, if harnessed, could translate…
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Tinubu approves write-off of $1.42bn and ₦5.57tn NNPC debt
Overview: A Bold Fiscal Move President Bola Tinubu has directed a sweeping write-off of significant debts owed by the Nigerian National Petroleum Company Limited (NNPC Ltd) to the Federation Account. The decision, which covers approximately $1.42 billion and ₦5.57 trillion, marks a pivotal intervention in Nigeria’s petroleum and public finance landscape. The approval, captured in…
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Tinubu Approves Write-Off of $1.42 Billion, ₦5.57 Trillion NNPC Debt
Overview: A Landmark Debt Forgiveness for NNPC In a move that could shift the trajectory of Nigeria’s public finances, President Bola Tinubu has approved the cancellation of substantial debts owed by the Nigerian National Petroleum Company Limited (NNPC Ltd) to the Federation Account. The write-off amounts to about $1.42 billion and ₦5.57 trillion, aimed at…
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Allen Onyema Warns Nigerian Airlines May Collapse in Three Months If Tax Reform Is Implemented
Airlines on the Brink: Onyema’s Warning About Tax Reform Allen Onyema, the chief executive officer of Air Peace, has issued a stark warning about Nigeria’s proposed tax reforms. In a recent interview with Arise News, Onyema argued that the new tax laws could reverse the relief measures introduced by the 2020 tax regime and push…
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CITN Calls for Transparency as Nigeria’s 2025 Tax Legislation Faces Scrutiny
Rising scrutiny over Nigeria’s 2025 tax laws The Chartered Institute of Taxation of Nigeria (CITN) has publicly urged greater transparency as concerns mount about the integrity of the country’s recently enacted 2025 tax legislation. In the wake of public debates and media coverage, questions have emerged regarding whether the versions passed by the National Assembly…