Business News

Lagos A recent notice by the Lagos State Internal Revenue Service (LIRS) directing banks, employers, and other third parties to remit funds belonging to tax defaulters to the state government has triggered widespread public concern, confusion, and debate. Many Nigerians interpreted the directive as a new policy that allows government agencies to seize money from

Lagos Nigeria’s inflation rate is expected to average 16 per cent in 2026, according to Bismarck Rewane, Chief Executive Officer of Financial Derivatives Company Limited, who says recent declines in inflation figures should be treated with caution, as they largely reflect a change in methodology rather than a sudden improvement in the economy. Rewane projected

Abuja / Lagos Nigeria’s energy sector recorded mixed developments on Monday, with the Nigerian National Petroleum Company Limited (NNPC Ltd) confirming a new offshore oil discovery in the Niger Delta, even as the Dangote Petroleum Refinery raised petrol prices nationwide, underscoring the complex dynamics shaping the country’s oil and fuel markets. NNPC Ltd announced that

Abuja The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Minister of Power, Adebayo Adelabu, and the Nigerian Bulk Electricity Trading Plc (NBET) over the alleged disappearance or mismanagement of ₦128 billion in public funds. The case, filed last Friday at the Federal High Court in Abuja under FHC/ABJ/CS/143/2026, seeks to

Davos, Switzerland The Federal Government has signaled a strategic shift towards reduced borrowing and stronger domestic investment as it deepens fiscal reforms aimed at stabilizing Nigeria’s economy and strengthening long-term sustainability. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, disclosed this on Tuesday while speaking with Bloomberg Television on the sidelines