Business

Nigeria’s fuel market is facing a strange but important shift. Some petroleum products being recorded as imports may not be foreign-refined fuel in the usual sense. They may actually be products refined by Dangote in Nigeria, shipped to Lomé in Togo, and later brought back into the country. The main…

Nigeria’s foreign trade remained active in the first quarter of 2026, with the country’s biggest trade relationships concentrated across Asia, the Americas, Europe and Africa. Trade data showed that Nigeria’s leading partners accounted for a large share of total merchandise trade during the quarter. The figures also reflected the continued…

Nigerian bank customers lost a combined N134.48 billion to fraud between 2020 and 2025, according to figures contained in the Central Bank of Nigeria’s newly released Nigeria Payments System Vision 2028 document. The figure represents successful fraud across nearly every major banking channel in the country, from ATMs and point…

The Federal Government has released the General Transition Guidelines for the implementation of the Tax Acts 2025. The guidelines explain how Nigeria will move from the old tax laws to the new tax system, which took effect on January 1, 2026. They were issued by the Federal Ministry of Finance…

The Economic Community of West African States, ECOWAS, has set a target to raise renewable energy to 48 percent of the region’s electricity mix by 2030. The plan forms part of the regional bloc’s broader effort to expand access to reliable, affordable, and sustainable electricity across West Africa, especially in…