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Business - Page 70

Federal Government Unveils Tax Reliefs to Ease Burden on Workers, Small Businesses

Nigeria has unveiled a sweeping set of tax reforms aimed at easing the financial burden on low-income earners and small businesses while tightening compliance and expanding the country’s tax base. The new laws, signed by President Tinubu in June 2025, are set

November 4, 2025

Business·Top Stories

Nigerian Stock Market Capitalisation Jumps By N1trn

On Tuesday, May 6, the equity capitalisation of the Nigerian stock market increased by N1.04 trillion from N67.06 trillion on Monday, May 5, to N68.10 trillion, after the all-share index (ASI) appreciated by 1.55 percent. The all-share index had appreciated to 108,361.1

May 6, 2025

Business·Top Stories

Elumelu’s Transcorp Power Records 55.4% Revenue Increase In Q1

Transcorp Power, a power-generating company largely owned by Tony Elumelu, recorded strong financial performance in the first quarter (Q1) of 2025. According to Prime Business Africa’s analysis of data obtained from the Nigerian Exchange Limited (NGX), the company’s revenue from contracts with

May 6, 2025

Business·Top Stories

Ecobank Posts N187bn Profit, Reduces Loans To Customers

In the first quarter (Q1) of 2025, Ecobank’s gross earnings surged by 17 percent to N1.05 trillion, rising from N904.15 billion recorded in the corresponding period last year. Ecobank disclosed this in its consolidated unaudited financial statements for the period ended March

May 6, 2025

Business·Currency·Markets

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 6th May 2025

What is the dollar-to-naira exchange rate on the black market, like the Aboki Fx? The exchange rate for the US dollar (USD) to Nigerian Naira (NGN) in the parallel market, also known as black market, as of 6th May 2025, is N1,600

May 6, 2025

Business·FEATURES·Oil & Gas

Crude Oil Price Drop Below $60 Heightens Concerns For Weaker Naira, Wider Budget Deficit

The recent plunge in crude oil prices below $60 per barrel has raised significant concerns for Nigeria’s economy, particularly regarding the Naira’s stability and the widening budget deficit. The crash in global crude oil prices in recent times has been driven by a combination of geopolitical, economic,

May 6, 2025

Business·News

Anxiety As CBEX Reopens Portal Despite SEC Ban, Ongoing N1.2trn Fraud Probe

There is an air of uncertainty on issues surrounding the Crypto Bridge Exchange (CBEX) platform as it has suddenly announced the resumption of operations, allowing new users to register, trade and withdraw funds. This is despite an existing ban on its activities

May 5, 2025

Bulls Charge Ahead As NGX Shatters Records As Market Cap Surpasses N50trn

Business·Top Stories

Beta Glass Leads Gainers, Ecobank Tops Losers’ List

The Nigerian stock market capitalisation closed trading at N67.06 trillion on Monday, May 5, after the all-share index (ASI) settled at 106,698.5 ASI. Investors exchanged 569.04 million shares in 18,612 deals worth N18,93 billion at the end of trading. Top five gainers

May 5, 2025

Business

Adesina Spoke Like Peter Obi, Onanuga Reacts Over Claims On GDP Per Capita

The Nigerian Presidency has countered a claim by president of the African Development Bank (AfDB), Dr Akinwumi Adesina on Nigeria’s Gross Domestic Product (GDP) per capita. Adesina reportedly said that Nigerians today are worse off than they were in 1960 in terms

May 5, 2025

Business·Top Stories

Austin Laz’s Liquidity And Machine Problem Costing Shareholders Their Investments

Within two weeks, Austin Laz’s shareholders lost 18.18 per cent of their investment as the aluminium roofing sheets producer announced it failed to record any revenue in the first quarter (Q1) of 2025. In a statement dated April 22, 2025, Austin Laz,

May 5, 2025

Business·Top Stories

Fidelity Bank Generates N315bn In Three Months, Profit Up By 189%

Fidelity Bank’s gross earnings increased by 64.20 per cent quarter-on-quarter to N315.42 billion in the first quarter (Q1) of 2025, from N192.08 billion generated in the same period in 2024. The company’s turnover was driven largely by interest income, which grew to

May 5, 2025

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Business - Page 70

Federal Government Unveils Tax Reliefs to Ease Burden on Workers, Small Businesses

Nigerian Stock Market Capitalisation Jumps By N1trn

Elumelu’s Transcorp Power Records 55.4% Revenue Increase In Q1

Ecobank Posts N187bn Profit, Reduces Loans To Customers

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 6th May 2025

Crude Oil Price Drop Below $60 Heightens Concerns For Weaker Naira, Wider Budget Deficit

Anxiety As CBEX Reopens Portal Despite SEC Ban, Ongoing N1.2trn Fraud Probe

Beta Glass Leads Gainers, Ecobank Tops Losers’ List

Adesina Spoke Like Peter Obi, Onanuga Reacts Over Claims On GDP Per Capita

Austin Laz’s Liquidity And Machine Problem Costing Shareholders Their Investments

Fidelity Bank Generates N315bn In Three Months, Profit Up By 189%

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