BUSINESS
Nigeria’s Textile Imports Rise By 298% To N726bn Over Five Years
The importation of textile products into Nigeria has soared by an astonishing 297.8% over the past five years, rising from ₦182.53 billion in 2020 to ₦726.18 billion in 2024. This is according to data from the National Bureau of Statistics (NBS), which shows a consistent yearly increase: ₦278.8 billion in 2021, ₦365.5 billion in 2022, and ₦377.1 billion in...
Marketers Protest As Dangote Set To Reduce Gas Price
President of the Dangote Group, Alhaji Aliko Dangote, has announced plans to reduce the price of Liquefied Petroleum Gas (cooking gas). He also promised to start direct sales of the product to consumers should the existing distributors fail to allow the price crash in cooking gas. However, operators in the sector have disagreed with the plan, saying the businessman was...
Foreign Transactions Increases To N118.9bn On NGX
Foreign portfolio transactions on the Nigerian Exchange Limited surged to N118.9bn in May 2025, representing an increase of 88.54 per cent compared to N63.07bn recorded in April 2025. The rise in foreign inflows, equivalent to about $74.97m at the prevailing exchange rate, contributed significantly to the overall equity market activity, which saw total transactions jump by 45.32 per cent from...
Nigeria’s Liquidity Surges As Money Supply Hits ₦118.99 trn
Nigeria’s money supply (M2) fell slightly to ₦118.99 trillion in May 2025, representing a 0.23% month-on-month (MoM) decline from ₦119.27 trillion recorded in April. This is according to the latest Money and Credit Statistics data released by the Central Bank of Nigeria (CBN) yesterday. The report shows this is the third monthly decline in M2 recorded so far in 2025. The...
Aiyedatiwa Approves N33.8 Billion For OSOPADEC, Tasks New Board On Grassroots Development
Ondo State Governor, Dr. Lucky Aiyedatiwa, has approved a record-breaking N33.8 billion budget for the Ondo State Oil Producing Areas Development Commission (OSOPADEC), marking the highest allocation ever granted to the agency. The governor disclosed this on Monday in Akure during the inauguration of the newly constituted OSOPADEC Board. He stated that the funding would be channeled toward addressing critical...
”Nigeria’s Growth Retained at 3.6%” – World Bank
The World Bank has predicted that Nigeria's economy is expected to grow by 3.6% in 2025, despite changes in the dynamics of international trade. This was disclosed in its twice-yearly Global Economic Prospects report released on Tuesday, where it slashed its forecasts for nearly 70 per cent of all economies, including the United States, China, and Europe, as well as...
FG: Fuel Subsidy Removal Saved Nigeria $84bn, Funded Major Infrastructure Projects
The Federal Government has declared that President Bola Tinubu’s removal of the petrol subsidy has ended a massive financial drain that cost Nigeria over $84 billion and enabled the funding of 40 key road projects within two years. This was revealed in a policy document titled “Two Years Later: Key Benefits of Subsidy Removal”, released by the National Orientation Agency...
Nigerian Stock Market Records Significant Dip In Trading Activity
Stock market investors traded 3.214 billion shares worth N76.348 billion in 64,156 transactions on the floor of the Exchange during the week. This compares to 3.794 billion shares valued at N119.394 billion exchanged in 89,636 deals the previous week. As a result, the value of transactions traded on the exchange dropped by 56.4 percent. The market operated for four trading days during...
FG Signs Agreements With 10 Companies To Enhance National Gas Supply
The Federal Government on Thursday signed a series of investment agreements with ten companies to develop gas processing plants and other gas supply infrastructure across Nigeria. The agreements—comprising the Joint Venture and Operating Agreement, the Joint Venture Equity Agreement, and the Joint Venture Accounts Agreement—were signed in Abuja between the Midstream and Downstream Infrastructure Fund (MDIF) and ten gas infrastructure...
SEC Issues Warning On Ponzi Schemes, Urges Public Vigilance
The Securities and Exchange Commission (SEC) has reiterated its warning about the dangers of Ponzi schemes, emphasizing their destructive effects on investor confidence, financial stability, and the integrity of the Nigerian capital market. This warning formed the core message of a presentation titled “Ponzi Schemes: Avoiding the Pitfalls of Illegality,” delivered by Dr. Sa’ad Abdulsalam, Head of the SEC’s Enforcement Department,...
![Ohafia Monarchs Reject 'UDUMEZE OF OHAFIA' Title, Insist It's Unrecognized, Misleading [Document Attached]](https://abntv.com.ng/wp-content/uploads/2025/07/FB_IMG_1752179354516-300x194.jpg "Ohafia Monarchs Appeal For Calm, Reaffirm Neutrality In Ohafia Improvement Union Election Process")
![Ohafia Monarchs Reject 'UDUMEZE OF OHAFIA' Title, Insist It's Unrecognized, Misleading [Document Attached]](https://abntv.com.ng/wp-content/uploads/2025/07/FB_IMG_1752179354516-100x75.jpg "Ohafia Monarchs Appeal For Calm, Reaffirm Neutrality In Ohafia Improvement Union Election Process")