FBN Holdings shares recorded a notable 7.86% increase week-to-date (WTD), closing the week ending January 10, 2025, in the green, despite a complex legal dispute with General Hydrocarbons Limited (GHL). The ongoing conflict stems from a loan agreement made during Oba Otudeko’s leadership at FBN Holdings, which has sparked a series of legal battles. A … Read more
As Nigeria’s legal profession faces mounting challenges, a growing number of lawyers are diversifying into real estate ventures. Once primarily involved in property transactions for legal compliance and documentation, many lawyers are now shifting their focus to capitalize on the lucrative opportunities within the real estate sector. Nigeria’s judicial system, burdened by slow court processes … Read more
The Nigerian stock market has achieved a remarkable feat in 2024, closing with a striking 37.65% gain. The All-Share Index surged, fueled by substantial growth in mid and large-cap stocks. These stocks saw their prices rise sharply, boosting the market’s performance. The Oil and Gas sector led the charge, posting an incredible 160% increase. It … Read more
The Central Bank of Nigeria (CBN) has imposed a new restriction on the Non-Resident Nigerian Ordinary Account (NRNOA) and the Non-Resident Nigerian Investment Account (NRNIA). Starting from January 10, 2025, the CBN now prohibits local deposits into these accounts. Instead, the focus will be on external inflows from Nigerians living abroad. This decision by the … Read more
Experts, policymakers, and stakeholders recently gathered in Abuja for a high-level symposium focused on the future of Nigeria’s oil and gas industry, which has been a key driver of the nation’s economy for nearly 70 years. The event addressed critical issues such as environmental challenges, socio-economic impacts, and security concerns, with the goal of creating … Read more
The oil and gas sector received 31.1% of total credit from deposit money banks (DMBs) in Q3 2024, according to the Central Bank of Nigeria (CBN). This is up from 29.9% in the previous quarter. In comparison, the manufacturing sector saw a decline of -6% in credit allocation, down to N8.7 trillion. The financial and … Read more
Economic experts at the recent FirstBank forum expressed a cautiously optimistic outlook for Nigeria’s economy in 2025. The discussions focused on potential recovery drivers and sustained growth despite the economic challenges of 2024. Olusegun Alebiosu, CEO of First Bank Group, conveyed optimism about the proposed N49.7 trillion 2025 budget, which he believes will provide significant … Read more
The NESG-Stanbic IBTC Business Confidence Monitor (BCM) report projects a hopeful decline in Nigeria’s inflation rate, forecasting it to reach 27.1% by December 2025. This offers optimism for businesses and consumers dealing with ongoing economic challenges. The decline is attributed to structural reforms, despite the ongoing struggles with rising fuel prices and currency depreciation. Inflation … Read more
The submission of Nigeria’s 2025 federal government budget has sparked growing concerns due to key omissions and lack of transparency. One notable absence is the Lagos-Calabar Coastal Road project, a major infrastructure initiative aimed at boosting economic connectivity and growth. This omission has raised eyebrows, especially since Landmark Resort was demolished for the project. Many … Read more
The Nigerian economy is on the verge of a transformation with the need to rebase the country’s Gross Domestic Product (GDP) and Consumer Price Index (CPI). Dr. Tayo Aduloju, Chairman and CEO of the Nigerian Economic Summit Group (NESG), highlighted that the 2014 GDP rebasing was a turning point for Nigeria, helping it surpass South … Read more