Cocoa farmers struggle with poverty despite rising global prices
Despite soaring global cocoa prices, millions of smallholder farmers in West Africa remain poor, according to the 2025 Cocoa Barometer report.
Business and Economy
FG considers ending ‘cost of collection’ deductions by revenue agencies
Finance Minister Wale Edun says the federal government plans to end the deductions known as “cost of collection” paid to agencies such as FIRS, Customs, and NUPRC.
World Bank rejects Nigeria’s goal of achieving single-digit inflation
The World Bank has dismissed Nigeria’s short-term aim of achieving single-digit inflation, warning that the goal is unrealistic amid persistently high consumer price growth.
Is A.I. investment trapped in a circular loop?
Analysts are warning that AI investments may be turning excessively circular—companies funding their own customers, who in turn funnel money back through infrastructure contracts—creating bubble risks masked behind aggressive spending
Reps push to regulate cryptocurrency and POS activities
The House of Representatives has inaugurated an ad hoc committee to propose regulatory and consumer-protection measures for cryptocurrency and POS operations amid concerns of fraud, money laundering, and terrorism financing.
$92bn Lithium boom sidelines Nigerian investors
Despite Nigeria’s vast lithium reserves, foreign—mostly Chinese—companies dominate extraction and processing, while local investors struggle to participate due to low capacity, poor funding, and lack of policy support.
FCCPC approves sale of Chivita|Hollandia (CHI Limited) to UAC of Nigeria PLC
The Coca-Cola Company today announced that the Federal Competition and Consumer Protection Commission (FCCPC) has approved the sale of Chivita|Hollandia (CHI Limited) to UAC of Nigeria PLC (UAC), and the transaction has now been closed.
Cooking gas shortage drives price up to N3,000 per Kg
A serious scarcity of cooking gas, blamed on a strike and refinery maintenance, has pushed retail LPG prices in parts of Lagos and Ogun to between N1,800 and N3,500 per kilogram.
How new luxury property tax will affect homeowners
Nigeria’s new property tax on luxury homes has raised concerns among experts who fear it will slow sales and push rentals higher.
NAFDAC seals two Chinese supermarkets, eight cosmetics stores in Abuja
NAFDAC sealed two Chinese supermarkets and eight cosmetics shops in Abuja, confiscating goods worth ₦170m over violations of food and drug regulations.