Tag: #BusinessNews
-
EXPERTS WARN AGAINST BLIND RELIANCE ON AI IN AUDITING, STRESS STRONG GOVERNANCE
Accounting and audit professionals have been urged to embrace Artificial Intelligence (AI) as a tool to improve efficiency without allowing it to replace professional judgment, ethical reasoning and independent thinking in financial reporting. Speaking at the 2026 Audit Committee Institute Conference on Wednesday July 1 in Lagos, Chairman of the Audit Committee Institute, Christian Ekeigwe,…
-
FCT TRADERS CALL FOR TEMPORARY ACCESS ROADS AS CONSTRUCTION IMPACTS BUSINESS
Traders in Mararaba and Aso markets have appealed to authorities and contractors to provide temporary access roads and improve drainage systems as ongoing road construction continues to affect business activities. According to several traders, flooding, traffic congestion and poor road access have reduced customer visits and sales, especially during rainfall. Some business owners said customers…
-
COLOMBIAN ENVOY URGES NIGERIAN ENTREPRENEURS TO TAP AfCFTA OPPORTUNITIES FOR GLOBAL GROWTH
Young Nigerian entrepreneurs have been encouraged to take advantage of opportunities under the African Continental Free Trade Area (AfCFTA) to expand their businesses and compete in international markets. Speaking at the Trade Commissioners Summit 2.0 in Abuja, Colombian Honorary Consul to Nigeria, Mrs. Maricel Romero, urged entrepreneurs involved in foreign trade to identify products unique…
-
NIGERIA RECORDS N34.78 TRILLION TRADE VALUE IN Q1 2026 — NBS
Nigeria recorded a total merchandise trade value of N34.78 trillion in the first quarter of 2026, according to the National Bureau of Statistics (NBS). The report shows that exports stood at N21.17 trillion, representing 60.85% of total trade, with crude oil continuing to dominate Nigeria’s export basket. Non-crude oil and non-oil products also contributed to…
-
FG APPROVES PAYMENTS TO OVER 1,240 LOCAL CONTRACTORS NATIONWIDE
The Federal Government has approved payments to more than 1,240 local contractors across the country. According to the Ministry of Finance, the payments followed a verification and reconciliation process to ensure that only valid and confirmed obligations were settled across Ministries, Departments and Agencies (MDAs). The ministry says the funds are expected to provide relief…
-
HEIRS INSURANCE GROUP REACHES 3 MILLION POLICYHOLDERS IN FIVE YEARS
Heirs Insurance Group says it has reached a major milestone, impacting and protecting more than three million customers within its first five years of operation. The company says the achievement reflects its commitment to customer-focused services, innovation, and the use of technology to improve access and trust in insurance. It also noted recognition in industry…
-
ACCI CALLS FOR SUSPENSION OF SUGAR-SWEETENED BEVERAGE TAX BILL, SEEKS WIDER REVIEW
The Abuja Chamber of Commerce and Industry (ACCI) has called on lawmakers to suspend consideration of the proposed Sugar-Sweetened Beverages (SSBs) tax amendment bill. According to the chamber, the bill requires wider review to fully assess its potential impact on businesses, employment, and the wider economy. It warned that the proposed changes could place additional…
-
GTEXT FOUNDER WARNS OF LIQUIDITY CHALLENGES IN NIGERIA’S REAL ESTATE SECTOR
The Founder of GText Holdings, Dr Stephen Akintayo, has identified liquidity challenges as a major concern affecting operators in Nigeria’s real estate sector. Speaking during the company’s 18th anniversary celebration in Lagos, Akintayo said real estate investments often require long-term capital commitments, making it difficult for some firms to maintain steady cash flow. He noted…
-
EID-EL-KABIR: COMMERCIAL ACTIVITIES RESUME SLOWLY IN OSOGBO
Commercial activities recorded a slow start in Osogbo on Friday following the Eid-el-Kabir holiday, with many shops and markets still under lock and key. Markets in areas such as Akindeko, Adekunle, Igbona and Ayegbaju witnessed low business activity as several traders reportedly remained out of town for the Sallah celebration. While commercial banks and government…
-
CHINESE-NIGERIAN PARTNERSHIP TARGETS ELECTRIC VEHICLE PRODUCTION IN NIGERIA
A new partnership between China’s Launch Design Shanghai and Hybrid Motors Nigeria is set to boost electric vehicle manufacturing and assembly in Nigeria. The companies say production facilities will be established in Lagos and Abuja to support the rollout of “Acely,” an indigenous electric vehicle brand designed for Nigerian roads and consumers. According to the…
