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BUSINESSAug 12EXPLAINER: What Tinubu’s new deep offshore tax incentives mean for NigeriaPresident Bola Tinubu has approved a new tax incentive framework for deep offshore oil and gas projects, designed to attract up to $50 billion in fresh investment, accelerate stalled developments and increase Nigeria’s crude oil production. The post EXPLAINER: What Tinubu’s new deep offshore tax incentives mean for Nigeria appeared first on Premium Times Nigeria.Premium Times
BUSINESSAug 12Nigeria’s crude oil production down 4% in July — NUPRCNigeria’s crude oil production fell by four per cent month-on-month in July 2026, despite the country maintaining production above its OPEC quota for the third consecutive month, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The post Nigeria’s crude oil production down 4% in July — NUPRC appeared first on Premium Times Nigeria.Premium Times
BUSINESSAug 12Pétrole : pourquoi le Nigeria se tourne de plus en plus vers la merPour échapper aux défaillances techniques de ses oléoducs terrestres et aux actes de sabotage qui les frappent dans le delta du Niger, la Nigerian National Petroleum Company privilégie les exportations de brut par voie maritime.Jeune Afrique
BUSINESSAug 12How Ridima Is Changing the Way Nigerians Buy, Sell and Think About Gift CardsAsk ten Nigerians what a gift card is, and most will describe the same thing: something you receive from someone, redeem at a store, and forget about. That description made sense ten years ago. It does not describe how gift cards in Nigeria work today. The post How Ridima Is Changing the Way Nigerians Buy, Sell and Think About Gift Cards appeared first on Vanguard News.Vanguard Nigeria
BUSINESSAug 12US-Iran crisis pushes oil to $87, Nigeria gains $22/barrelBy Udeme Akpan The latest disagreement between President Donald Trump and Iran over the reopening of the Strait of Hormuz has pushed up oil prices by 5 per cent to $87 per barrel from $83 per barrel in the global market. This was even as Bank of America (BofA) warned that oil prices could continue […] The post US-Iran crisis pushes oil to $87, Nigeria gains $22/barrel appeared first on Vanguard News.Vanguard Nigeria
BUSINESSAug 12Nigeria’s capital importation rises 256.9% to $2.82bnNigeria’s capital importation rose by 256.9 per cent year-on-year (YoY) to $2.82 billion in April 2026 from $0.79 billion in the corresponding period of 2025, indicating increased investor confidence in the economy, the Central Bank of Nigeria (CBN) has said. However, capital importation declined by 26.7 per cent month-on-month (MoM) from $3.85 billion in March […] The post Nigeria’s capital importation rises 256.9% to $2.82bn appeared first on Vanguard News.Vanguard Nigeria
BUSINESSAug 12Abdul Samad Rabiu, the other billionaire industrialist who wants to change NigeriaHis career path mirrors that of Aliko Dangote, Africa's richest person. More low-profile, the head of BUA also built an empire in cement and sugar and also comes from Kano, a city that has been a crossroads for trans-Saharan trade for millennia.Le Monde [en]
BUSINESSAug 11CIBN urges banks to deploy fresh capital to MSMEs as Nigeria targets $1 trillion economy“It can be widely accepted, and there is empirical evidence to support the fact that an economy cannot grow to a $1 trillion mark without the support of the financial services sector,” Mr Alabi said. The post CIBN urges banks to deploy fresh capital to MSMEs as Nigeria targets $1 trillion economy appeared first on Premium Times Nigeria.Premium Times
BUSINESSAug 11ECOWAS to offer $65,000 to Nigerian startups — How to applyThe Economic Community of West African States (ECOWAS) has opened applications for its 2026 Startup Awards, with a total cash prize of $65,000 up for grabs among the top three startups. The post ECOWAS to offer $65,000 to Nigerian startups — How to apply appeared first on Vanguard News.Vanguard Nigeria
BUSINESSAug 11In Kaduna, TMDK Group is strengthening Nigeria’s energy, food securityLying quietly beside the road is the TMDK Agro Industrial Park, estimated to cost $75 million, with the potential to unlock northern Nigeria’s agricultural wealth and address Nigeria’s food security concerns. The post In Kaduna, TMDK Group is strengthening Nigeria’s energy, food security appeared first on Premium Times Nigeria.Premium Times
BUSINESSAug 11US-Africa Trade Commission appoints Aremu as Nigeria Country DirectorThe U.S.-Africa Trade Commission has appointed Dr. Fakunle John Aremu as its Country Director for Nigeria, according to an appointment letter dated July 10, 2026. Aremu is an international trade, investment and economic development executive with over 15 years of experience across Africa. In the letter signed by Titus Olowokere, the commission’s Executive Director/CEO, Aremu […] The post US-Africa Trade Commission appoints Aremu as Nigeria Country Director appeared first on Vanguard News.Vanguard Nigeria
BUSINESSAug 11Nigerian cost of living pain deepens as election loomsNigeria is experiencing an exacerbation of its cost of living crisis, occurring as an election approaches. This highlights worsening economic conditions in the country with potential political implications.businessghana.com · Ghana
BUSINESSAug 11Low import bill pushes Nigeria’s trade surplus to $3.46bBy Elizabeth Adegbesan Driven by an 18.7 percent decline in import bill, Nigeria’s trade surplus rose by 32.06 percent month-on-month (MoM) to $3.46 billion in April 2026 from $2.62 billion in March 2026. The Central Bank of Nigeria, CBN, disclosed this yesterday in its April 2026 Economic Report. CBN said: “The goods account recorded a […] The post Low import bill pushes Nigeria’s trade surplus to $3.46b appeared first on Vanguard News.Vanguard Nigeria
BUSINESSAug 10Tinubu’s subsidy removal, FX reforms, stabilising Nigeria’s economy – Zacch AdedejiHe said the reforms by the Tinubu administration were necessary because it inherited an economy burdened by an unsustainable fuel subsidy regime, an opaque foreign exchange market, an underperforming oil sector and a narrow tax base. The post Tinubu’s subsidy removal, FX reforms, stabilising Nigeria’s economy – Zacch Adedeji appeared first on Premium Times Nigeria.Premium Times
BUSINESSAug 10Dangote refinery shifts Nigeria towards domestic value additionBy Udeme Akpan Nigeria’s petroleum industry is undergoing a shift from an export-driven crude oil model towards greater domestic processing following the operationalisation of the Dangote Petroleum Refinery in Lagos. For decades, Nigeria exported crude oil while importing refined petroleum products, including petrol, diesel and aviation fuel. The model generated foreign exchange from crude exports […] The post Dangote refinery shifts Nigeria towards domestic value addition appeared first on Vanguard News.Vanguard Nigeria
BUSINESSAug 10Nigerian newspapers review: Only 6 banks pay N1.27trn dividends despite huge profitsIn today’s Nigerian newspapers review programme, Today in the News, Vanguard's lead headline states that only six banks paid N1.27 trillion in dividends despite declaring huge profits. The post Nigerian newspapers review: Only 6 banks pay N1.27trn dividends despite huge profits appeared first on Vanguard News.Vanguard Nigeria
BUSINESSAug 10Nigeria Economy Recovering After Painful Reforms NRSNigeria's economy is showing signs of recovery following a period of challenging reforms. This indicates a positive shift in the country's economic outlook after difficult policy changes.opinionnigeria.com · Nigeria
BUSINESSAug 10Nigeria’s FDI jumps 148% despite Africa’s investment declineBy Yinka Kolawole Nigeria emerged as one of Africa’s strongest foreign investment performers in 2025, recording a 148 per cent increase in Foreign Direct Investment (FDI) inflows despite a sharp decline across the continent, according to the UN Trade and Development (UNCTAD) World Investment Report 2026. The report showed that global FDI rebounded by six per […] The post Nigeria’s FDI jumps 148% despite Africa’s investment decline appeared first on Vanguard News.Vanguard Nigeria
BUSINESSAug 10Nigerians are increasingly borrowing to build houses — CBN·Other lendings rise, lenders report low default rates By Elizabeth Adegbesan Credit for house purchase by households increased to 9.6 index points in the second quarter of 2026 (Q2’26), indicating that Nigerians are intensively borrowing to purchase personal houses. The Central Bank of Nigeria, CBN, disclosed this yesterday in its Credit Condition Survey Report for Q2’26 […] The post Nigerians are increasingly borrowing to build houses — CBN appeared first on Vanguard News.Vanguard Nigeria
BUSINESSAug 10Nigerian Breweries’ revenue up 9% to N804 bn… restores retained earnings to positive   By Peter Egwuatu  Nigerian Breweries Plc, Nigeria’s foremost brewing company, has announced a strong performance for the first half of the 2026, recording a group revenue of N804 billion, representing a 9% increase over the N738 billion reported in the corresponding period of 2025. The company has also restored its […] The post Nigerian Breweries’ revenue up 9% to N804 bn appeared first on Vanguard News.Vanguard Nigeria
BUSINESSAug 10Nigeria spent N3.1trn on domestic debt servicing in Q1 – DMOThe Debt Management Office, DMO, has said the federal government spent N3.14 trillion on servicing its domestic debt in the first quarter (Q1) of 2026. The post Nigeria spent N3.1trn on domestic debt servicing in Q1 – DMO appeared first on Vanguard News.Vanguard Nigeria
BUSINESSAug 10Nigeria economy recovering after painful reforms NRSNigeria's economy is reportedly recovering following challenging reforms, according to NRS. This indicates an improvement in the nation's economic situation after a period of difficulty.vanguardngr.com · Nigeria
BUSINESSAug 10Nigeria’s economy recovering after painful reforms —NRSThe Nigeria Revenue Service, NRS, has said the Nigerian economy is showing strong signs of recovery and accelerated growth following a series of “painful” reforms implemented by President Bola Tinubu. The post Nigeria’s economy recovering after painful reforms —NRS appeared first on Vanguard News.Vanguard Nigeria
BUSINESSAug 10Nigeria needs $1 . 74trn investment to achieve $1trn economy Experts – Daily TrustExperts suggest Nigeria requires $1.74 trillion in investment to reach a $1 trillion economy. This highlights a significant economic goal and the substantial capital needed to achieve it.dailytrust.com · Niger
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