Business

Finance ministry demands legal basis for N680m NAICOM

  • 10th August 2026

NGX listed firms earned ₦179.5bn finance income in

  • 10th August 2026

Nigeria’s monthly data consumption hits record 1.5mTB in

  • 10th August 2026

NITDA urges regulatory collaboration to support emerging technologies

  • 10th August 2026

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Finance ministry demands legal basis for N680m NAICOM charges

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Twin brothers join NNPC, defy myth of one hire

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FG tightens rules as imprest, cash advances triple

The Federal Government has moved to curb the rising use of imprest and cash advances following revelations that over N2.27 billion was disbursed under these categories in 2024—a staggering 308% increase from the N556.3 million recorded in 2023. Imprest refers to a fixed sum allocated to public officers for routine expenses, typically retired quarterly, while […]

Business

REA signs MoUs to mobilise N500bn for rural power projects

The Rural Electrification Agency on Monday signed multiple Memoranda of Understanding with major institutions and private sector partners, aiming to mobilise over N500 billion in private-sector-driven investments for infrastructure development in underserved communities. Held in Abuja, the event was themed “Strengthening Partnership for Sustainable Energy Access and Socio-Economic Development” and brought together stakeholders from the […]

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Saglev showcases EV innovation ahead of FG, AfDB visits

Saglev Electromobility Company Limited has spotlighted its strides in green industrialisation, local manufacturing, and automotive innovation in Nigeria, as it prepares to host top-level delegations from the Federal Government and the African Development Bank. In a statement, the electric vehicle manufacturer said its assembly and production facility in Imota, Lagos, will welcome the Minister of […]

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EU accuses Temu of violating digital services act

The European Commission has accused Chinese e-commerce platform Temu of violating key consumer protection rules under the Digital Services Act, citing serious failures in risk management and product safety oversight. In preliminary findings released Monday, the Commission said Temu had not adequately assessed or addressed the risks posed by illegal or non-compliant products on its […]

Tech

Chinese AI firms form alliances to counter US chip export curbs

Chinese artificial intelligence companies are stepping up efforts to strengthen homegrown innovation and reduce dependence on foreign technologies, forming new strategic alliances in response to ongoing United States export controls that restrict access to Nvidia’s most advanced chips. The moves were announced during the World Artificial Intelligence Conference in Shanghai, which wraps up Monday. According […]

US, EU reach trade deal, eases transatlantic tariff tensions
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US, EU reach trade deal, eases transatlantic tariff tensions

The United States and the European Union have reached a landmark trade agreement, ending months of tense negotiations and averting a potential escalation in tariffs that threatened to strain transatlantic economic relations. The breakthrough was sealed following high-level talks between U.S. President Donald Trump and European Commission President Ursula von der Leyen at Trump’s Turnberry […]

Aviation

Aeroflot reports information system glitch, flight delays possible

Russia’s national airline, Aeroflot, announced on Monday that a failure in its information systems may lead to temporary disruptions in service operations. This was disclosed in a statement posted by the airline on Telegram messaging app. “As a result, schedule adjustments for some flights are expected, including delays and cancellations,” Aeroflot said in the post. […]

Samsung blames US AI chip sanctions for profit slump, shares dip
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Samsung inks $16.5b semiconductor deal with Tesla

Samsung Electronics has signed a $16.5 billion contract to supply semiconductors to Tesla, according to a regulatory filing by the South Korean tech giant and a confirmation by Tesla CEO Elon Musk on X. While Samsung’s filing did not initially name Tesla, it stated that the contract took effect on July 26, 2025, with deliveries […]

Nigeria expecting $2.2bn loans from World Bank - Minister
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Stable financial system key to $1tn economy goal – Edun 

The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has emphasised the importance of a stable and reliable financial system—anchored by institutions such as the Nigerian Deposit Insurance Corporation—as critical to lifting millions out of poverty and steering Nigeria towards a $1 trillion economy. Speaking during the inauguration of the corporation’s […]

Business

Don’t celebrate GDP gains as economic growth, MAN warns FG

The Manufacturers Association of Nigeria has urged the federal government not to misinterpret the recently rebased Gross Domestic Product figures as a sign of significant economic advancement, warning that the data may conceal deeper structural issues within the economy. Reacting to the National Bureau of Statistics’ latest rebasing exercise, MAN noted that while nominal GDP […]

Nigeria borrowed money to fight Boko Haram - Oyedele
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FG retains 30% CIT under new Nigerian tax act

The federal government has announced that the corporate income tax rate will remain at 30 per cent for all large companies, under the revised Nigerian Tax Act set to take effect from January 2026. According to the provisions of the updated law, small businesses with an annual turnover of less than N25 million will continue […]

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