Business & Economy

Nigeria’s $24.9bn Imports From China Expose Cost Of Weak Industrial Base

adminNovember 4, 2026

Idongesit Mishael, Uyo Nigeria’s growing dependence on imported industrial machinery and equipment is raising fresh concerns about the country’s capacity to build a self-sustaining economy, following a record $24.9 billion imports from China in 2025. The development, which reversed three consecutive years of declining imports from the Asian country, has exposed a major weakness in...

Sanusi Faults FG’s Response To Economic Hardship, Demands Accountability For Reforms

adminNovember 4, 2026

The Emir of Kano, Muhammadu Sanusi II, has urged the Federal Government to distinguish between genuine public concerns over economic hardship and political attacks on President Bola Tinubu, warning that intolerance of criticism could undermine efforts to address the country’s challenges. Sanusi made the appeal while speaking virtually at the Oxford Global Think Tank Leadership...

Fuel Price Increases Weigh On Nigerian Businesses Despite Continued Private Sector Expansion

adminNovember 2, 2026

Rising operating expenses are putting additional pressure on Nigerian businesses, even as the country’s private sector continues to record growth, according to the latest economic indicators published by The Guardian. Data from the October Stanbic IBTC Bank Purchasing Managers’ Index (PMI) showed that business conditions remained in expansion territory, with the headline index standing at...

Oando Cuts Production Costs By 22%, Records ₦159.7bn Operating Profit

adminNovember 1, 2026

Oando Plc has reduced its production operating costs by 22 per cent and returned to operating profitability, posting ₦159.7 billion operating profit in the first nine months of 2026, against a loss of ₦109.7 billion recorded in the corresponding period of 2025. The improvement came as the indigenous energy company increased average daily production by...

Dangote Refinery IPO Attracts Investors From All 54 African Countries, 120 Nations Globally

adminOctober 28, 2026

Dangote Petroleum Refinery and Petrochemicals has attracted investor applications from all 54 African countries and 66 other countries across the world, closing its N2.15 trillion initial public offering with participation spanning six inhabited continents. The geographical reach of the offer, which closed on Tuesday, October 27, marks an attempt to broaden African participation in the...

Akwa Ibom Targets Agribusiness Growth With 100 Youth Training Sponsorships

adminOctober 28, 2026

Akwa Ibom State Governor, Umo Eno, has committed to funding agricultural business training for 100 young people at CSS Global Integrated Farms in Nasarawa State, introducing another opportunity for youths to explore agriculture as a source of livelihood. The pledge was made at the ninth Ibom Ignite Conference in Uyo on Tuesday, where the governor...

‘Trade Deals Don’t Create Jobs, Industries Do’ — ECOWAS Chief

adminOctober 27, 2026

Nigeria and other West African countries must shift from exporting raw materials and signing trade agreements to building industries that process local resources and create jobs, the President of the ECOWAS Commission, General Birame Diop, has said. Diop said regional industrialisation and stronger value chains were essential to translating West Africa’s market potential into employment...

JPMorgan Moves Into Nigeria’s Merchant Banking Market After CBN Approval

adminOctober 23, 2026

Global financial giant JPMorgan has secured preliminary regulatory approval to establish a merchant bank in Nigeria, opening a new chapter in its participation in the country’s financial services market as the Central Bank of Nigeria pushes to strengthen the banking sector. The proposed institution, to operate as JPMorgan Merchant Bank Nigeria Limited, has received Approval-in-Principle...

Champion Breweries Eyes Canned Products By December, Adds Bullet Energy Drink

adminOctober 22, 2026

Champion Breweries Plc is preparing to introduce canned versions of its products by December 2026, following the arrival of its canning line, as the company expands its offerings with Bullet Energy Drink. The company’s Head of Marketing and Corporate Communications, Omotunde Adenusi, revealed the development during a meeting with the 2026 Press Week Committee of...

Dangote Eyes $1.5bn Investment In Kenya’s Petroleum Distribution System

adminOctober 22, 2026

Aliko Dangote is seeking to expand his footprint in East Africa’s oil industry through a proposed $1.5 billion investment in Kenya’s petroleum pipeline infrastructure. The Nigerian billionaire’s latest move follows his acquisition of a 25 per cent interest in Kenya Pipeline Company (KPC), after purchasing 4.5 billion shares for 42.5 billion Kenyan shillings, equivalent to...

vvcwatch

Follow us:

vvcwatch

Dangote Targets Southern Africa Energy Market With Namibia Storage Project

Police Threaten Arrest Of Political Thugs Over Campaign Material Destruction