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Business - Page 39

Nigeria-France Tax Data Deal Sparks Debate Over Sovereignty, As FIRS Moves To Calm Public Concerns

Nigeria’s decision to sign a new tax-administration cooperation agreement with France has ignited wide public debate, with questions emerging about the possible exposure of sensitive national economic information. The Federal Inland Revenue Service (FIRS), however, maintains that the partnership poses no risk

December 12, 2025

Business·Top Stories

Stock Market Cap Closes With N948bn Gain, UAC Nigeria Leads Gainers

The stock market capitalisation increased to N89.37 trillion on Friday, August 1, from N88.42 trillion on Thursday, July 31, representing a growth of N948.11 billion. Also, the all-share index (ASI) expanded by 1,399.53 basis points, from 139,863.52 ASI to 141,263.05 ASI. Traders

August 1, 2025

Business·Oil & Gas

PETROAN Urges Tinubu To Order Privatisation Of Port Harcourt Refinery

The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) has strongly criticized the Nigerian National Petroleum Company Limited (NNPCL) for reversing its earlier consideration to privatize the Port Harcourt Refining Company (PHRC). PETROAN called on President Bola Tinubu to approve the

August 1, 2025

Business·News·Oil & Gas

Jigawa Residents Spent More On Petrol In June

The latest Petrol Price Watch released by the National Bureau of Statistics (NBS) showed that the average retail price of Premium Motor Spirit (PMS) in Nigeria rose to N1037.66 in June 2025, with Jigawa residents spending more on the commodity. The NBS report released on

August 1, 2025

Business·Currency

Naira Loses ₦3.84 As External Reserves Rise By $2.15bn In July

The Nigerian naira recorded a loss against the U.S. dollar at the official foreign exchange market in July 2025. The Central Bank of Nigeria (CBN) data indicate that the naira traded N1,533.55 per dollar at the Nigerian Foreign Exchange Market (NFEM) on

August 1, 2025

Business·Top Stories

Lafarge Africa Records N268.62bn Revenue In Three Months

Between April and June 2025, Lafarge Africa generated N268.62 billion in revenue, overshadowing the N157.80 billion turnover reported in the second quarter (Q2) of 2024. Lafarge Africa’s revenue grew faster than the company’s cost of production, as the former increased by 70.22

August 1, 2025

Business·Top Stories

How Oil Investor, Augustine Avuru, Lost N83.36m Daily In Six Months

The first half (H1) of 2025 was not a good period for oil and gas investor, Augustine Avuru, as the value of his investment in Seplat Energy dropped by 4.38 percent. Prime Business Africa notes that Avuru is the fourth majority shareholder

August 1, 2025

Business·Currency·Markets

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 1st August 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 the black market, as of 1st August 2025, is

August 1, 2025

Business·News

Sterling HoldCo Records 157% Profit Surge, Plans ₦53bn Public Offer

Sterling Financial Holdings Company Plc (Sterling HoldCo) has announced a 157% increase in its profit-after-tax for the half-year ended June 30, 2025, with earnings climbing to ₦41.78 billion from ₦16.26 billion in the same period last year. The unaudited financial results, released

July 31, 2025

Business·Top Stories

UAC Nigeria, Wema Bank Raise Stock Market Cap By N369.75bn

An increase in the shares of Wema Bank, UAC Nigeria, Guinness and others on the gainers list added N369.75 billion to the market capitalisation of the Nigerian Exchange Limited (NGX) on Thursday, July 31. The gain led to the capitalisation of the

July 31, 2025

Business·Top Stories

First HoldCo’s Profit Drops By 25% To N116bn In Q2 2025

Between April and June 2025, First HoldCo generated N812.12 billion in interest income, surpassing the N501.54 billion recorded in the second quarter (Q2) of 2024, representing an increase of 61.92 percent. The growth in turnover overshadowed the 27.65 percent increase recorded in

July 31, 2025

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SEC Orders Full Registration of Tradable Instruments by January 2026

The Securities and Exchange Commission (SEC) has ordered all Capital

UK Targets Sugary Milk Drinks as Government Tightens Health Levy

The UK Labour government has expanded its existing sugar tax

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 26th November 2025

What is the dollar-to-naira exchange rate on the black market,

CBN Further Raises Benchmark Interest Rate To 27.25%

CBN Holds Interest Rate At 27% — Fourth Time In 2025

The monetary policy committee (MPC) of the Central Bank of

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Business - Page 39

Nigeria-France Tax Data Deal Sparks Debate Over Sovereignty, As FIRS Moves To Calm Public Concerns

Stock Market Cap Closes With N948bn Gain, UAC Nigeria Leads Gainers

PETROAN Urges Tinubu To Order Privatisation Of Port Harcourt Refinery

Jigawa Residents Spent More On Petrol In June

Naira Loses ₦3.84 As External Reserves Rise By $2.15bn In July

Lafarge Africa Records N268.62bn Revenue In Three Months

How Oil Investor, Augustine Avuru, Lost N83.36m Daily In Six Months

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 1st August 2025

Sterling HoldCo Records 157% Profit Surge, Plans ₦53bn Public Offer

UAC Nigeria, Wema Bank Raise Stock Market Cap By N369.75bn

First HoldCo’s Profit Drops By 25% To N116bn In Q2 2025

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Business - Page 39

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