Business

Under the old, repealed Value Added Tax Act, businesses were trapped in an unfair, distorted tax system that treated essential operational expenses as luxury overheads.

FCMB's market capitalisation had risen 49.7 percent to about N771.7 billion by August, even though its share price was still 2.9 percent lower year-to-date.

The average maximum lending rate in the banking sector fell to 29.19 percent in August from 33.16 percent in July, according to Central Bank of Nigeria (CBN) data.

The Nigerian Exchange Limited (NGX) closed Friday’s trading session marginally lower, as market capitalisation slipped N24 billion from N163.679 trillion at the open to N163.655 trillion at the close.

NNPC Limited has welcomed the $800 million Final Investment Decision on the Ima Gas Project, describing the development as a major vote of confidence in Nigeria’s upstream gas sector. The Ima project, operated by TotalEnergies in partnership with...

More Nigerians are getting access to formal credit, but a growing share of those loans are being used to manage everyday financial pressure rather than to expand businesses or acquire productive assets.

Keyamo disclosed this on Thursday following the announcement by Saudi Ambassador to Nigeria, Yousef Bin Mohammed Al-Balawi, at the Kingdom’s 96th National Day celebration in Abuja.

Treasury bill stop rates fell sharply across all three maturities at Wednesday’s primary market auction, extending the repricing of Nigeria’s short-term fixed-income market following the Central Bank of Nigeria’s 350-basis-point interest-rate cut.

The suspension was disclosed in a notice signed by Bonaventure Onwuji on behalf of the Head of the Issuer Regulation Department.

The Manufacturers Association of Nigeria (MAN) welcomed the CBN Monetary Policy Committee’s decision to cut the Monetary Policy Rate (MPR) by 350 basis points to 23 percent from 26.5 percent, but said the key issue for businesses was the cost of actual bank loans.