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Friday, 30 October 2026
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Business News in Nigeria — Direct & Verified

Business Stories

Business
TSource: The Guardian Nigeria
•2 days ago

Nigeria to step up arms production, defence capacity - The Guardian Nigeria News

Quick Read: The Nigerian government has declared a strategic move to bolster its national security through increased domestic arms production. This initiative is designed to enhance the country's defence capacity and reduce reliance on external sources.

Business
TSource: The Guardian Nigeria
•2 days ago

FG signs over $100m gas pipelines project in South-East - The Guardian Nigeria News

Quick Read: The Federal Government of Nigeria has finalized an agreement for a gas pipeline project in the South-East. This infrastructure development is valued at more than $100 million.

Business
TSource: The Guardian Nigeria
•2 days ago

WIEN, KPMG to launch energy sector inclusion benchmark - The Guardian Nigeria News

Quick Read: The Women in Energy Network (WIEN) has partnered with KPMG to develop a new benchmark for inclusion in the Nigerian energy sector. This initiative is designed to assess and improve diversity standards within energy-related organizations.

Business
TSource: The Guardian Nigeria
•2 days ago

Court overturns Delta’s 5% consumption tax law - The Guardian Nigeria News

Quick Read: A court has officially overturned the 5% consumption tax law previously enacted in Delta State. This judicial decision invalidates the tax, impacting how consumption-based levies are applied within the state.

Business
TSource: The Guardian Nigeria
•2 days ago

How Cologne Quest is changing perfume reviews through real-world testing - The Guardian Nigeria News

Quick Read: Cologne Quest is revolutionizing the perfume review industry by implementing real-world testing protocols. This approach provides consumers with a more accurate understanding of how fragrances perform in daily life.

Business
PSource: Premium Times
•2 days ago

NCGC guarantees N64.13bn loans to businesses, individuals

Quick Read: The National Credit Guarantee Company (NCGC) has successfully facilitated N64.13 billion in loans by providing credit guarantees that de-risk lending for borrowers lacking traditional collateral. By partnering with 19 financial institutions, the company has supported over 174,000 beneficiaries and created nearly one million jobs across Nigeria.

Business
PSource: Premium Times
•2 days ago

Russia not behind waving of Russian flags during 2024 protests in Nigeria — Lavrov

Quick Read: Russian Foreign Minister Sergey Lavrov has formally distanced Moscow from the display of Russian flags by protesters during Nigeria's August 2024 #EndBadGovernance demonstrations. Lavrov asserted that these actions were personal expressions of individuals and do not reflect official Russian policy or support for undermining Nigerian sovereignty.

Business
TSource: The Guardian Nigeria
•2 days ago

Nigeria plans to scrap the common entrance exam - The Guardian Nigeria News

Quick Read: The Nigerian government has declared its intention to abolish the common entrance examination. This decision represents a major policy shift regarding the assessment process for students transitioning from primary to secondary education.

Business
PSource: Premium Times
•2 days ago

Dangote Refinery’s historic IPO nets investors from 120 countries worldwide, 54 in Africa

Quick Read: Dangote Petroleum Refinery has successfully concluded its 'People’s IPO,' attracting investors from 120 countries, including all 54 African nations. The transaction serves as a landmark for African capital markets by demonstrating the continent's capacity to mobilize domestic savings and broaden ownership of strategic industrial assets.

Business
PSource: Premium Times
•2 days ago

Court sentences former banker to five years over N2.7bn fraud

Quick Read: The Special Offences Court in Ikeja, Lagos, has sentenced former banker Christopher Jackson Edeh to five years in prison for a N2.7 billion fraud. Judge O.O. Abike-Fadipe convicted Edeh on nine counts of fraudulent false accounting and unauthorised access to a computer system.

Business
LSource: Linda Ikeji's Blog
•2 days ago

Nigerian man extradited from Benin Republic to US over $100m stolen identity tax scheme

Quick Read: Akinade Adedeji Raheem has been extradited from Benin Republic to the United States following allegations of orchestrating a massive identity theft and tax fraud scheme. The operation, which spanned five years, allegedly defrauded the U.S. Treasury of over $100 million by filing fraudulent tax returns.

Business
PSource: Premium Times
•2 days ago

Nigeria to begin large-scale local production of weapons within one year — Musa

Quick Read: The Nigerian Minister of Defence, Christopher Musa, has announced that the country will begin large-scale local production of defence hardware within the next year. This strategic move is designed to bolster national security, foster self-reliance, and position Nigeria as a key contributor to Africa's defence manufacturing sector.

Business
TSource: The Guardian Nigeria
•2 days ago

Court upturns Delta’s 5% consumption tax on VAT-covered transactions - The Guardian Nigeria News

Quick Read: A court has ruled against Delta State's imposition of a 5% consumption tax on transactions already covered by federal Value Added Tax (VAT). This decision effectively nullifies the state's attempt to levy additional taxes on these specific transactions.

Business
TSource: The Guardian Nigeria
•2 days ago

dRPC advocates early child care development to end out-of-school scourge - The Guardian Nigeria News

Quick Read: The dRPC is actively advocating for the integration of early child care development programs as a critical measure to address the high number of out-of-school children in Nigeria. This strategic focus aims to establish a stronger educational foundation for children to prevent future school dropout rates.

Business
TSource: The Guardian Nigeria
•2 days ago

FG targets 2030 to eliminate lead-based paints in Nigeria - The Guardian Nigeria News

Quick Read: The Federal Government of Nigeria has officially announced a strategic target to eradicate lead-based paints from the national market. This policy shift is aimed at improving public health standards by 2030.

Business
TSource: The Guardian Nigeria
•2 days ago

Experts task business leaders on taking responsibility for machine decisions - The Guardian Nigeria News

Quick Read: Experts have issued a directive to business leaders, stressing that they must remain accountable for decisions generated by machines. This stance underscores the necessity of human governance in automated business environments.

Business
PSource: Premium Times
•2 days ago

GTCO posts 12% drop in nine-month profit amid soaring costs

Quick Read: Guaranty Trust Holding Company (GTCO) experienced a 12.2% decline in net profit for the first nine months of the year, falling to N614.6 billion. The financial performance was hampered by rising interest expenses and increased operational costs despite improvements in interest income.

Business
TSource: The Guardian Nigeria
•2 days ago

Emir Sanusi advocates traditional institutions’ role in global fight against hunger - The Guardian Nigeria News

Quick Read: Emir Sanusi has formally advocated for the involvement of traditional institutions in the global effort to eradicate hunger. He suggests that these institutions possess the necessary community influence to contribute effectively to food security initiatives.

Business
TSource: The Guardian Nigeria
•2 days ago

Plateau Security: Militia hideout claim misleading, says MACBAN - The Guardian Nigeria News

Quick Read: The Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN) has formally responded to allegations regarding the presence of militia hideouts in Plateau State. The association categorically dismissed these reports as misleading.

Business
TSource: The Guardian Nigeria
•2 days ago

Niger miners’ death: Panel blames overcrowding, asphyxiation - The Guardian Nigeria News

Quick Read: An investigative panel has officially attributed the deaths of miners in Niger State to asphyxiation resulting from overcrowding. The report clarifies the circumstances surrounding the tragic incident.

Business
TSource: The Guardian Nigeria
•2 days ago

PAU Alumni chief seeks stronger University-industry ties - The Guardian Nigeria News

Quick Read: The leadership of the Pan-Atlantic University (PAU) Alumni Association has issued a call for deeper integration between academic institutions and the Nigerian industry. This initiative seeks to ensure that university training is more responsive to the evolving demands of the professional landscape.

Business
PSource: Premium Times
•2 days ago

Bayelsa suspends oil firm’s land acquisition over fatal community dispute

Quick Read: The Bayelsa State Government has suspended all land acquisition activities by Nembe Exploration and Production Company Ltd in Brass LGA. This decision follows a violent conflict between the Dieama and Okpoama communities that resulted in one death and multiple injuries.

Business
TSource: The Guardian Nigeria
•2 days ago

Creators urged to move beyond influencer marketing to creative ownership - The Guardian Nigeria News

Quick Read: Content creators in Nigeria are being advised to transition from influencer marketing models to a focus on creative ownership. This strategic shift is intended to foster more sustainable and long-term value for creators within the digital economy.

Business
NSource: Nairametrics
•2 days ago

Afreximbank’s 9M 2026 profit rises 24% as net interest income strengthens

Quick Read: Afreximbank achieved strong financial performance in the first nine months of 2026, recording a net income of $813.46 million. This 24% year-on-year growth was supported by robust interest income and successful expansion of its lending portfolio across Africa and the Caribbean.