The United Nations’ projection that West Africa’s economy will expand by 4.4 per cent in 2026 offers cautious optimism, but beneath the headline figure lies a fragile recovery shaped more by external tailwinds than durable structural reform. According to the UN’s World Economic Situation and Prospects 2026, the sub-region’s growth will slow marginally from 4.6 per cent in 2025, reflecting the mixed impact of Nigeria’s macroeconomic reforms and elevated global prices for precious metals. While these factors are supporting short-term output, they also expose West Africa’s continued dependence on commodities and policy adjustment shocks. Nigeria, the region’s largest economy,…
Author: Elvis Eromosele
JMG Limited has said the growing adoption of clean energy solutions is significantly reducing power costs, strengthening communities, and improving business competitiveness across Nigeria. Speaking at an event to mark International Clean Energy Day in Lagos, Raymond Nwose, JMG’s Product Manager for Hybrid Power Systems, said the shift to clean energy has moved beyond environmental concerns to become an economic necessity. “Clean energy is reducing power costs, enabling communities, and enhancing competitiveness. As more countries move towards sustainability, the transition to clean energy has become an economic imperative,” Nwose said. Also speaking, Rabih Jammal, JMG’s Chief Commercial Officer, highlighted…
Emirates Airlines and Air Peace have activated a bilateral interline agreement aimed at expanding air connectivity between Africa, the United Arab Emirates and major international destinations. Under the agreement, passengers of both airlines can now enjoy single-ticket travel, seamless connections and simplified baggage handling on select routes, enhancing travel convenience and comfort. In a joint statement, the airlines said the expanded partnership builds on their existing relationship and widens connectivity beyond the 13 Nigerian cities already accessible to Emirates passengers through Air Peace’s domestic network. The enhanced agreement now allows travellers to connect to Banjul (The Gambia) and Dakar…
The Central Bank of Nigeria (CBN) has upgraded the operating licences of selected FinTech companies and Microfinance Banks (MFBs), including Opay, Moniepoint and Kuda Bank, granting them national status in recognition of their expanded nationwide operations. The disclosure was made by Yemi Solaja, Director of the Other Financial Institutions Supervision Department (OFISD) at the CBN, during the annual conference of the Committee of Heads of Banks’ Operations (CHBOs) held in Lagos. According to Solaja, the move is aimed at aligning regulatory licences with the actual operational footprint of FinTechs and tech-driven MFBs whose services now span the entire country.…
Dangote Cement Plc has inducted nearly 200 newly trained engineers and professionals into its workforce following the completion of its 18-month Graduate Trainee Programme, underscoring its commitment to job creation, skills development, and local capacity building. The trainees, drawn from engineering, finance, IT and other disciplines, completed a structured programme combining classroom learning, cross-functional exposure, executive mentorship, and hands-on project execution. Training took place at the Dangote Academy, the company’s four plant locations in Nigeria, and its head office. According to the company, several of the graduates have already been deployed across its cement operations in Nigeria and other…
Golden Morn, Nigeria’s beloved cereal brand, is thrilled to announce the launch of a nationwide consumer promotion running from January 10 to April 15, 2026. This exciting initiative offers over ₦80 million in cash and fantastic prizes, designed to reward our loyal consumers for their continued support. Participants can look forward to winning exciting prizes, including cash rewards of up to ₦5 million, laptops, televisions, mobile phones, washing machines, and airtime. All you need to do is purchase any Golden Morn 30g or 45g special promo pack from your favourite store. Inside each pack, you will find a unique code.…
Nigerians are embracing Artificial Intelligence at a record pace, far outstripping the global average. According to a Google-Ipsos report, 88 per cent of Nigerian adults have used AI chatbots, 26 points higher than the worldwide adoption rate of 62 per cent. The study shows AI is more than a novelty in Nigeria; it’s a tool for learning, work, and entrepreneurship. 93 per cent of Nigerians use AI to understand complex topics, while 91 per cent leverage it for work tasks, and 80 per cent explore new business opportunities or career paths, nearly double the global average. Academia benefits most,…
The Lagos State Internal Revenue Service’s (LIRS) announcement to enforce the power of substitution under the Nigeria Tax Administration Act (NTAA) 2025 marks a decisive step in tightening tax compliance. By allowing authorities to directly recover unpaid taxes from banks, employers, tenants, and other third parties, the state aims to tackle longstanding challenges of tax default and broaden its revenue base. The move is timely, given Nigeria’s fiscal pressures and Lagos’ reliance on internally generated revenue to fund critical infrastructure and social services. From a business perspective, the directive presents both opportunities and risks. On the positive side, a…
The Lagos State Internal Revenue Service (LIRS) will begin enforcing its statutory power of substitution under the Nigeria Tax Administration Act (NTAA) 2025 to recover unpaid taxes from defaulting taxpayers. Under Section 60 of the NTAA, LIRS can legally direct third parties, including banks, employers, tenants, customers, or business partners, to remit funds owed to a taxpayer in settlement of outstanding tax liabilities. The provision applies only to confirmed and due tax obligations, covering Personal Income Tax, Capital Gains Tax, Stamp Duties, and Withholding Tax. Once a substitution notice is issued, recipients are legally required to comply. Banks and…
Nigeria is set to become Africa’s second commercial cloves producer, with 74,000 farmers joining a nationwide initiative ahead of the 2026 wet season. Malam Abdullahi Shuaibu, National Coordinator of the Cloves Producers Association, announced the plan at the North-West Farmers Training Workshop at Ahmadu Bello University, Zaria. The program aims to boost domestic and international cloves production, generate foreign exchange, and create jobs across the country. Each farmer will receive improved cloves seeds and inputs to cultivate half a hectare, with at least 2,000 participants from each of Nigeria’s 36 states and the Federal Capital Territory. Cloves, a tropical plant…