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BUSINESS20m ago‘It’s Regressive’ – IMF warns Nigeria against restoring petrol subsidyThe International Monetary Fund (IMF) has advised Nigeria against restoring broad petrol subsidies, recommending targeted financial assistance and social protection programmes to cushion vulnerable households against rising energy costs. The fund said blanket fuel subsidies were fiscally expensive, disproportionately benefited higher-income consumers and could worsen pressure on public finances amid rising borrowing costs. Rodrigo Valdés, […] The post ‘It’s Regressive’ – IMF warns Nigeria against restoring petrol subsidy appeared first on Vanguard News.Vanguard Nigeria
BUSINESS21m agoW/Bank mobilises $5.79bn private capital for NigeriaBy Emma Ujah, Abuja Bureau Chief The World Bank Group has said it is helping to mobilise $5.79 billion in private capital for investment in Nigeria’s agriculture, telecommunications and micro, small and medium enterprises (MSMEs), in a major push to expand private-sector participation in the economy. The financing drive is being supported by policy reforms, […] The post W/Bank mobilises $5.79bn private capital for Nigeria appeared first on Vanguard News.Vanguard Nigeria
BUSINESS52m agoG-24: Nigeria, other developing nations need cheaper financing — Oyedele“Debt vulnerability is a major obstacle to growth in many developing countries,” Oyedele said, highlighting the need for predictable and coordinated approaches The post G-24: Nigeria, other developing nations need cheaper financing — Oyedele appeared first on Vanguard News.Vanguard Nigeria
BUSINESS57m agoNigeria’s private capital inflows hit $6bn as reforms gather pace — W/Bank•Tax-to-GDP ratio rises to 12.5% from 7% — Oyedele By Emma Ujah, Abuja Bureau Chief Nigeria’s private capital inflows have surged nearly 20-fold to almost $6 billion in 2026 from about $300 million in 2023, President of the World Bank Group, Mr. Ajay Banga, has said, just as the Federal Government (FG) said it has […] The post Nigeria’s private capital inflows hit $6bn as reforms gather pace — W/Bank appeared first on Vanguard News.Vanguard Nigeria
BUSINESS1h agoNigerians still suffer high cost of living, despite economic growth — IMFIMF has said despite Nigeria’s economic growth and status as an energy exporter, the cost of living remained high, leaving Nigerians struggling The post Nigerians still suffer high cost of living, despite economic growth — IMF appeared first on Vanguard News.Vanguard Nigeria
BUSINESS3h agoShell to sell Nigeria’s domestic gas business to Vaaris EnergyShell announced the deal in a statement on Tuesday, noting the transaction forms part of the strategy to simplify its portfolio and concentrate investments on areas of competitive strength. The post Shell to sell Nigeria’s domestic gas business to Vaaris Energy appeared first on Premium Times Nigeria.Premium Times
BUSINESS3h agoWhy many Nigerians spend more on phone repairs than buying new phonesBy Miracle Onyemuwa The rising cost of smartphones in Nigeria is forcing more consumers to repair damaged devices rather than replace them with new ones. This is more so, as inflation and the depreciation of the naira continue to push phone prices higher. At Computer Village, Ikeja, phone repair shops are seeing increasing numbers of […] The post Why many Nigerians spend more on phone repairs than buying new phones appeared first on Vanguard News.Vanguard Nigeria
BUSINESS3h agoE-commerce, championing Nigeria’s digital journey?•Online shopping sector jumps 15 points to 75% in new report•Customer satisfaction hits 71% despite service quality decline in key sectors•Power, Public Sector trail at 51%, 53%By Prince Osuagwu E-Commerce appears to be one sector in Nigeria where customers are not complaining as much as they used to.While poor service continues to dog several sectors […] The post E-commerce, championing Nigeria’s digital journey? appeared first on Vanguard News.Vanguard Nigeria
BUSINESS3h agoNigeria loses $2bn yearly to cocoa value addition gap — FGBy Cynthia Alo & Kafayat Kokumo The Federal Government (FG) has said that Nigeria loses about $2 billion annually in potential value from cocoa because the country’s processing capacity is largely underutilised. Meanwhile, the International Institute of Tropical Agriculture (IITA), has said that West Africa needs high-yielding, climate-resilient cocoa varieties to improve productivity and protect […] The post Nigeria loses $2bn yearly to cocoa value addition gap — FG appeared first on Vanguard News.Vanguard Nigeria
BUSINESS12h agoNigeria meets OPEC quota for fifth straight month as oil output hits 1.84m barrelsThe commission noted in a statement that Africa’s biggest oil producer logged a peak production of 1.84 million barrels during the month as the country met its OPEC quota for the fifth month in a row. The post Nigeria meets OPEC quota for fifth straight month as oil output hits 1.84m barrels appeared first on Premium Times Nigeria.Premium Times
BUSINESS13h agoShell to sell Nigeria domestic gas business to Vaaris EnergyShell Petroleum B.V. has signed an agreement to sell its full interest in Shell Nigeria Gas Group to Vaaris Energy Limited, a Nigerian energy company, as the oil major refocuses its investments on strategic businesses. The post Shell to sell Nigeria domestic gas business to Vaaris Energy appeared first on Vanguard News.Vanguard Nigeria
BUSINESS17h agoProtecting Nigeria’s oil and gas assets through coordination and accountability, By Chido OnumahA Common Framework for Protecting National Assets The signing and launch, on 12 October, of the Standard Operating Procedure(SOP) for Government Security and Intelligence Agencies and Other Stakeholders under the Nigerian Oil and Gas Industry-Wide Security Architecture gives Nigeria a common framework for protecting hydrocarbon assets. It connects security operations with economic recovery, environmental protection […] The post Protecting Nigeria’s oil and gas assets through coordination and accountability, By Chido Onumah appeared first on Premium Times Nigeria.Premium Times
BUSINESS20h agoNigerian newspapers review: [AI] World Bank, IMF warn of jobs crisis in Nigeria, othersIn today’s Nigerian newspapers review programme, Today in the News, Vanguard leads with the International Monetary Fund (IMF) and the World Bank warning that Artificial Intelligence (AI) could worsen the jobs crisis in Nigeria and other developing economies unless governments and businesses take urgent steps to prepare workers and deploy the technology to create employment. The post Nigerian newspapers review: [AI] World Bank, IMF warn of jobs crisis in Nigeria, others appeared first on Vanguard News.Vanguard Nigeria
BUSINESS21h agoKerrygold Strengthens Ties with Nigeria’s Baking Community at Cake Expo 2026Kerrygold reaffirmed its commitment to Nigeria’s growing baking community through its partnership with the International Cake Exploration Societe, Nigeria (ICES, Nigeria), at Cake Expo 2026, held on October 7 and 8 at All Seasons Plaza, Ikeja. The two-day expo brought together bakers, cake artists and enthusiasts from across the industry for an engaging experience focused […] The post Kerrygold Strengthens Ties with Nigeria’s Baking Community at Cake Expo 2026 appeared first on Vanguard News.Vanguard Nigeria
BUSINESS22h agoIMF upgrades forecast for Nigeria’s economic growth to 4.2%"Oil-importing, non-resource-intensive economies are more adversely affected by higher energy and food prices, whereas some larger economies continue to benefit from earlier stabilisation and reform efforts, even though they are largely absent from the AI-driven global technology upswing and face headwinds from declines in official development assistance. The post IMF upgrades forecast for Nigeria’s economic growth to 4.2% appeared first on Vanguard News.Vanguard Nigeria
BUSINESS22h agoTotalEnergies, NNPC, Conoil… In Nigeria, how the Dangote mega-refinery is reshaping the oil marketLes revenus pétroliers de la Nigerian National Petroleum Corporation (NNPC), la compagnie pétrolière nationale, ont chuté de près de 78 % en 2025. Le lancement de la raffinerie Dangote et la libéralisation complète du marché ont déclenché une guerre des prix féroce dans l’ensemble du secteur aval.Jeune Afrique
BUSINESS23h agoEase Monetary Policy As Inflation Improves, But Stay Data-Driven, IMF Advises NigeriaThe IMF’s deputy director in charge of the Monetary and Capital Markets Department, Athanasios Vamvakidis, stated this at the Global Financial Stability Report (GFSR) press briefing during the 2026 Annual Meetings of the World Bank and IMF in Bangkok. The post Ease Monetary Policy As Inflation Improves, But Stay Data-Driven, IMF Advises Nigeria appeared first on Channels Television.Channels TV
BUSINESS23h agoIMF advocates cash transfers to cushion hardship in Nigeria“Although economic growth has held up in Nigeria, given that it is an energy exporter, living costs are still very high, and we are very mindful that the population is suffering,” she said. The post IMF advocates cash transfers to cushion hardship in Nigeria appeared first on Vanguard News.Vanguard Nigeria
BUSINESS1d agoJUST IN: IMF increases Nigeria’s growth forecasts to 4.2%, warns higher prices will aggravate poverty, food insecurity“Nigeria is supported by improved macroeconomic stability and favourable terms-of-trade effects, though higher prices for essentials are expected to further aggravate poverty and food insecurity,” the IMF said in its report Tuesday. The post JUST IN: IMF increases Nigeria’s growth forecasts to 4.2%, warns higher prices will aggravate poverty, food insecurity appeared first on Premium Times Nigeria.Premium Times
BUSINESS1d agoNigeria targets over 4% growth as reserves top $54bn — FGBy Chidinma Chukwu, Abuja The Federal Government has projected economic growth of more than four per cent in 2026, with external reserves exceeding $54 billion and inflation declining to about 15 per cent, citing the figures as evidence of progress under President Bola Tinubu’s economic reforms. The Minister of Information and National Orientation, Mohammed Idris, […] The post Nigeria targets over 4% growth as reserves top $54bn — FG appeared first on Vanguard News.Vanguard Nigeria
BUSINESS1d agoIMF Urges Targeted Cash Transfers For Nigeria’s PoorThe Economic Counselor at the Fund, Silvana Tenreyro, also projected Nigeria’s growth as 4.3 per cent by 2027, outpacing advanced economies like the United Kingdom, Canada and Germany. The post IMF Urges Targeted Cash Transfers For Nigeria’s Poor appeared first on Channels Television.Channels TV
BUSINESS1d agoDangote's Nigerian oil refinery extends IPO by 2 weeksAliko Dangote's Nigerian oil refinery is extending the deadline for its initial public offering in order to broaden participation, its owner said Monday. The IPO, set to be Africa's largest capital market operation, was due to close on Tuesday but it will now be extended for two weeks.Africanews [en]
BUSINESS1d agoNigeria’s debt interest payments surge 37.5% to N7.7trn in H1’26 — World BankNigeria’s debt interest payments surged by 37.5 per cent to N7.7 trillion in the first half of 2026 from N5.6 trillion in the corresponding period of 2025. The post Nigeria’s debt interest payments surge 37.5% to N7.7trn in H1’26 — World Bank appeared first on Vanguard News.Vanguard Nigeria
BUSINESS1d agoAs Nigeria pursues industrial growth, Dorman Long Engineering’s legacy offers lessons in building local capacityFor Dorman Long Engineering, more than 75 years of operations provide a historical perspective on the development of Nigeria’s engineering sector. Its next chapter will be shaped by how effectively it builds on that experience and responds to the opportunities and demands ahead. The post As Nigeria pursues industrial growth, Dorman Long Engineering’s legacy offers lessons in building local capacity appeared first on Premium Times Nigeria.Premium Times
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