Nigeria’s GDP Grows by 3.84% in Q4 2024, Driven by Services Sector
Nigeria’s Gross Domestic Product (GDP) grew by 3.84 per cent in real terms in the fourth quarter of 2024, marking an improvement from the 3.46 per cent recorded in the same period of 2023. The growth, driven by a strong performance in the services sector, reflects the resilience of the Nigerian economy and the gradual recovery from macroeconomic challenges. Nigeria’s...
ILO Calls for Stronger Social Dialogue to Tackle Labour Market Challenges
The International Labour Organisation (ILO) has emphasized the need for robust social dialogue to address pressing labour market challenges and ensure sustainable industrial relations in a rapidly evolving global economy. This call was made during the inaugural International Conference on Industrial Relations, held recently in The Hague, Netherlands. The event, co-organized by the International Organisation of Employers, Randstad, and the...
Nigerian Stock Exchange Dips as Investors Lose N166bn Amid Inflation Decline
The Nigerian Stock Exchange (NGX) experienced a significant downturn on Tuesday, with investors losing N166 billion in market value following the announcement of a decline in Nigeria’s headline inflation to 24.48 per cent in January 2025. Despite the drop, the market maintained positive weekly and year-to-date gains, reflecting mixed sentiments among investors. The Nigerian Stock Exchange (NGX) recorded a notable...
FIRS Engages Large Taxpayers Ahead of E-Invoicing System Pilot Launch
The Federal Inland Revenue Service (FIRS) has initiated a stakeholders’ engagement with large taxpayer groups to prepare for the pilot phase of the Merchant Buyer Solution, an e-invoicing system set to launch in July 2024. The system aims to enhance tax compliance, reduce revenue leakages, and improve the ease of doing business in Nigeria by providing real-time visibility into...
Johnvents Group Secures $40.5M Investment to Boost Nigeria’s Cocoa Industry
Johnvents Group, a leading agribusiness and manufacturing conglomerate, has partnered with British International Investment (BII) in a $40.5 million deal aimed at enhancing Nigeria’s cocoa industry. The investment will expand the production capacity of Johnvents’ subsidiary, Premium Cocoa Products Ile-Oluji, from 13,000 to 30,000 metric tonnes annually, positioning Nigeria as a competitive player in the global cocoa market. In a...
Mastering AI and Human Skills: Key to Thriving in the Future of Work, Says PMI Expert
As artificial intelligence (AI) continues to reshape job roles, George Asamani, Managing Director of Project Management Institute (PMI) Sub-Saharan Africa, has emphasised the importance of balancing technical expertise with human-centric skills. In a statement, Asamani highlighted the need for young professionals to master AI tools while cultivating creativity, empathy, and critical thinking to remain relevant in an increasingly automated...
PTML Terminal Launches Direct Shipping Route from Shanghai to Lagos with MV Great Cotonou
PTML Terminal has announced the arrival of MV Great Cotonou, the first Container Roll-on Roll-off (RORO) vessel offering a direct shipping route from Shanghai to Lagos. This groundbreaking service, operated by the Grimaldi Group, reduces transit times to just 27 days, enhancing logistics efficiency and providing Nigerian businesses with a faster, cost-effective trade link to China. In a significant boost...
CAP Plc Launches Caplux Plaster Primer to Combat Dampness and Enhance Wall Preparation
CAP Plc, a leading paint manufacturer, has introduced a groundbreaking product, Caplux Plaster Primer, designed to address dampness in buildings and improve wall preparation for painting. The new primer offers superior adhesion, moisture protection, and stain-blocking technology, setting a new standard for excellence in the industry. CAP Plc has unveiled its latest innovation, Caplux Plaster Primer, a high-performance product aimed...
Daere Akobo Calls for Investment in Youth-Centred Tech Innovations to Drive Africa’s Economic Transformation
Daere Akobo, Chairman of PANA Holdings and Group CEO of PE Energy Limited, has urged African leaders to prioritise investment in youth-centred technological innovations to fuel the continent’s economic transformation. Speaking at the Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) 2025 in Lagos, Akobo emphasised the need for mentorship, innovation, and strategic policies to empower young professionals and...
US-China Tariff War Threatens to Widen Nigeria’s Trade Deficit, Analysts Warn
The ongoing tariff war between the United States and China is expected to have significant spillover effects on Nigeria’s economy, potentially worsening the country’s trade deficit with China. Analysts at Meristem Securities highlight the risks of increased imports, capital flight, and currency depreciation, urging Nigeria to brace for economic challenges as global trade tensions escalate. The tariff war between the...
