Business

The rhythm of Nigeria's business world
The National Association of Telecoms Subscribers (NATCOMS) plans to sue the Nigerian Communications Commission (NCC) over its approval of a 50% telecom tariff hike. NATCOMS argues the increase is excessive and calls for a moderate 5%-10% rise instead. Subscribers cite economic hardships and...
The Nigerian Communications Commission (NCC) approved a 50% increase in telecom tariffs, raising call costs to ₦16.5 per minute. This hike could generate ₦6.74 trillion in revenue by 2025. Despite benefits for major operators, consumer groups oppose it, citing affordability concerns and...
The World Bank has banned Nigerian firms Viva Atlantic Limited and Technology House Limited, alongside CEO Norman Bwuruk Didam, for 30 months over fraudulent and corrupt practices related to the National Social Safety Nets Project. Violations include bid misrepresentation, falsified documents...
Lagos State generated $71.6 million from tourism and entertainment during the 2024 ‘Detty December’ festivities, with hotels and apartments driving revenue. Events like the Greater Lagos Fiesta and African Fashion Week attracted locals and tourists, highlighting the city’s cultural vibrancy and...
The Nigerian Communications Commission (NCC) has approved a 50% tariff increase for telecom operators, addressing rising operational costs. The adjustment aims to enhance service delivery, support infrastructure investments, and balance consumer protection with industry sustainability...
The Transmission Company of Nigeria (TCN) reports vandalism of 18 transmission towers in six days across Rivers, Abia, and Kano states, disrupting power supply and grid expansion. TCN urges public cooperation to protect critical infrastructure, highlighting the financial strain and operational...
Dangote Refinery has justified its recent petrol price hike, citing a 15% surge in global crude oil prices. The refinery increased its depot price to N950 per litre, emphasizing its efforts to minimize the impact on Nigerians while maintaining competitive pricing amid rising international crude...
Taiwo Oyedele, chair of Nigeria's tax reform committee, announced plans to pass tax reform bills by Q1 2025, with implementation set for July. President Tinubu proposed four key tax bills aimed at restructuring the fiscal system, receiving backing from the Nigerian Governors Forum for equitable...
Brazil has officially confirmed Nigeria’s admission as a partner country in the BRICS alliance. The move follows Nigeria’s participation in the 16th BRICS Summit in October 2024. With this inclusion, Nigeria becomes the ninth partner country, strengthening its role in South-South cooperation and...
Nigeria’s Power Minister, Adebayo Adelabu, condemns recurring vandalism of Abuja’s electricity infrastructure, citing significant disruptions to power supply in key areas. He calls for collaboration among stakeholders to protect critical infrastructure while highlighting TCN’s new transformer...
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