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Economy

Capital market contribution to GDP jumps to 33%

The Nigerian capital market’s contribution to the nation’s Gross Domestic Product has increased to 33 per cent from 13 per cent. This rise follows a N68.93 trillion growth in market capitalisation since April 2024. The Director-General of the Securities and Exchange Commission, Dr Emomotimi Agama, made this disclosure during his inaugural address to the newly […]

Finance

FG pledges 5% of GDP for industrial financing push

The Federal Government has announced plans to allocate up to five per cent of Nigeria’s Gross Domestic Product annually for industrial development financing. This move aims to significantly increase the manufacturing sector’s contribution to the economy. The initiative forms part of the newly launched Nigeria Industrial Plan, which was unveiled in Abuja by the Federal […]

Business

Oando unveils second tranche stock dividend distribution

Oando Plc has commenced the second tranche of its stock dividend distribution. This continues the issuance of 1.28 billion additional shares to shareholders. The milestone follows shareholder approval granted at the company’s 45th Annual General Meeting held on December 17, 2024. The firm stated in a statement on Sunday. At the meeting, shareholders authorised the […]

Insurance

Mutual Benefits Assurance pays ₦5.94bn claims in January 2026

Mutual Benefits Assurance has paid a total of N5.94bn in claims to policyholders in January 2026. This payout underlines its strong financial capacity and commitment to prompt claims settlement. The figures were disclosed in a statement from the underwriter on Friday. A breakdown of the figures indicated that N3.43bn was paid under its General (Non-Life) […]

Why affordable housing can't be realistic in Nigeria - Developers
Housing

MOFI real estate fund to pay final dividend on February 27

The Ministry of Finance Incorporated Real Estate Investment Fund is set to pay a final dividend to shareholders on February 27, 2026, following a strong earnings performance for the 2025 financial year. According to its financial statement filed with the Nigerian Exchange, MOFI posted a profit after tax of N25.353 billion. Out of the total […]

Aviation

FG launches major investment drive in aviation sector

Nigeria’s aviation sector is poised for a significant investment push as the Federal Government plans to develop aerotropolises in major cities and host global aircraft lessors, financiers, and airline operators for strategic business discussions. The initiative, themed Aircraft Acquisition and Investment Summit, comes as the Director of Public Affairs and Consumer Protection at the Nigeria […]

Business

Nigeria wins as tribunal dismisses UK tech firm’s $6.2m arbitration

An international tribunal has dismissed a $6.2 million claim filed by European Dynamics UK Ltd against Nigeria over a national e-Procurement project. The decision was announced in a press release issued on February 22, 2026, by Kamarudeen Ogundele, Special Assistant to the President on Communication and Publicity in the Office of the Attorney General of […]

News

Plateau mine where 37 died closed during my tenure – Fayemi

Former Ekiti governor Kayode Fayemi stated that the Plateau State mining site, where 37 miners lost their lives, had been closed during his tenure as Minister of Solid Minerals Development. In a statement posted on X on Sunday, Fayemi said he visited the Zurak mining site in 2017 with then National Security Adviser, Babagana Monguno. […]

Oil and Gas

Oil falls 1% ahead of US-Iran nuclear talks

Oil prices slid about one per cent on Monday as the United States and Iran geared up for a third round of nuclear talks, easing fears of a conflict escalation, while President Donald Trump’s latest tariff increases raised concerns over global growth and fuel demand. Brent crude futures fell 76 cents, or 1.06 per cent, […]

Bitcoin drops to $60,000 amid escalating Iran-Israel tensions
Crypto

Bitcoin falls below $65,000 after Trump announces 15% global tariffs

Bitcoin dropped over 5 per cent to under $65,000 on Monday following President United States Donald Trump’s announcement of plans to raise global tariffs to 15 per cent. The decline contrasted with gains in Asian equities during early trading, highlighting crypto’s decoupling from regional stock markets amid renewed tariff concerns. Bitcoin has experienced a steep […]

Tech

Trump launches tech corps to boost US AI presence overseas

Amid growing competition with China, the United States is leveraging a key instrument of American soft power and diplomacy to extend its influence in artificial intelligence: the Peace Corps. The White House on Friday introduced the “Tech Corps” initiative, a Peace Corps program aimed at promoting American AI abroad and supporting partner nations in implementing […]

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FG eyes manufacturing growth with major GDP allocation

The Federal Government has announced that it will allocate up to five per cent of Nigeria’s Gross Domestic Product each year to industrial development financing, aiming to significantly boost the manufacturing sector’s share of the economy. This initiative is outlined in the newly launched Nigeria Industrial Plan, unveiled in Abuja by the Federal Ministry of […]

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