Nigeria News

Union Bank of Nigeria Completes Merger with Titan Trust Bank

In a significant development in Nigeria’s financial sector, Union Bank of Nigeria has announced the successful completion of its merger with Titan Trust Bank Limited. The merger, which was approved by the Central Bank of Nigeria (CBN), marks a major milestone in the bank’s 108-year history. The merger, which began with the signing of a …

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Nigeria’s New Tax Laws Take Effect January 1, 2026

Nigeria will officially enter a new tax era on January 1, 2026, following the signing into law of four major reform bills by President Bola Ahmed Tinubu. These include the Nigeria Tax Act, the Tax Administration Act, the Nigeria Revenue Service Establishment Act, and the Joint Revenue Board Act. Together, they reshape the country’s fiscal …

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FG Approves Strategic Tax Incentives to Boost Use of Local Raw Materials in Manufacturing

At the 2025 Nigeria Manufacturing & Equipment and Nigerian Raw Materials (NME–NIRAM) Expo held in Lagos, the Federal Government of Nigeria announced a major policy shift aimed at encouraging the use of locally sourced raw materials in the manufacturing sector. The Minister of Innovation, Science and Technology, Chief Uche Nnaji, disclosed that the government has …

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Nigeria’s Capital Importation Rises 67.12% YoY in Q1 2025

Nigeria’s capital markets demonstrated renewed vitality in the first quarter of 2025, with the National Bureau of Statistics confirming total capital importation reached US $5.64 billion, representing a 67.12 percent year-on-year increase from Q1 2024 and a 10.86 percent gain over Q4 2024 . Portfolio investments dominated this uptick, delivering US $5.20 billion, or 92.25 percent of the total inflows, while Other Investment …

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UAC Acquires Chivita and Hollandia Maker from Coca-Cola in Strategic Deal

In a strategic realignment of its global business portfolio, The Coca-Cola Company has made an agreement to divest it’s entire stake in CHI Limited producers of the Chivita and Hollandia brands to UAC of Nigeria PLC. The transaction, subject to regulatory approvals and closing conditions, represents a significant milestone in Nigeria’s fast-moving consumer goods (FMCG) sector. CHI Limited, …

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NGX, FG push for capital formation frameworks

Market leaders, regulators, and government officials have urged stakeholders to work together to strengthen Nigeria’s capital market and accelerate capital formation as a key driver of national economic growth. The call was made at the 2025 Chartered Institute of Stockbrokers (CIS) National Workshop held at the Presidential Villa in Abuja. The Group Managing Director and …

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CBN Holds Interest Rate at 27.5% Amid Inflation Concerns

The Central Bank of Nigeria (CBN) has maintained its benchmark interest rate, the Monetary Policy Rate (MPR), at 27.5%, citing underlying pressure on prices of goods and services as well as continued global uncertainties. The decision was made during the 101st Monetary Policy Committee (MPC) meeting in Abuja, chaired by CBN Governor, Mr. Olayemi Cardoso. …

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Nigeria’s inflation rate declines 3rd consecutive month to 22.22%

Nigeria’s headline inflation rate eased for the third consecutive month, falling to 22.22% in June 2025 from 22.97% in May, according to the Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS). This represents a 0.75% point decline, reinforcing signs of a gradual slowdown in consumer price growth across the country. The trend …

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Nigeria Seeks $2.2 Billion Private Sector Investment to Achieve 30,000MW Power Ambition

Nigeria’s drive to boost electricity generation capacity to 30,000 megawatts (MW) by 2030 hinges on a major push for $2.2 billion in private sector investment, aimed at revitalizing the country’s aging and overstretched transmission infrastructure. This urgent call for funding took centre stage at a recent Power Sector Summit convened by the House of Representatives Committee on …

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IMF Warns of Rising Cryptocurrency Risks as Nigeria Emerges Global Leader 1,511% in five years

The International Monetary Fund (IMF) has issued a warning over the increasing risks associated with cryptocurrency use in emerging markets, placing Nigeria at the center of global concern. With the global cryptocurrency market surging by 1,511% to $3.4 trillion between 2020 and 2024, Nigeria has become one of the top three countries for crypto adoption, …

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