Author: Anuoluwapo Ige

The ongoing plan by the Federal Government to increase crude oil production to 2.062 million barrels per day could potentially lead to a confrontation with the Organisation of Petroleum Exporting Countries, a report by Bloomberg has projected. The report also pointed out that Nigeria recently emerged from a prolonged output slump, thanks to improved security conditions. However, this recovery has now placed the government in a difficult position, as it faces the challenge of balancing increased production with OPEC’s output restrictions. Although the government needs the extra revenue from higher oil exports to improve badly stretched public finances, the country…

Empowering Nigerian Women: A Strategic Pathway to Economic Prosperity Nigeria is at a pivotal juncture in its ambition to become a $1 trillion economy by 2030. Yet, one of the most significant, yet often overlooked, drivers of this transformative journey is the economic empowerment of women. With women making up half of Nigeria’s population and bearing the brunt of socio-economic challenges, unlocking their potential is not just a matter of gender equity—it is an economic imperative. Despite their central role in society, Nigerian women remain disproportionately excluded from financial systems. Current estimates indicate that up to 70% of Nigeria’s poor…

In Nigeria, various professions offer substantial salaries, with skills in medicine, technology, and management being highly rewarded. As the demand for these professions grows, they are important to the development and progress of the nation’s economy. The need for expertise in these fields highlights their role in Nigeria’s economic landscape, with professionals in these sectors commanding top salaries and contributing to the country’s growth. Orthopedic Surgeon Orthopedic surgeons lead the list with a salary range of N770,000 to N2,200,000. This highly specialised field in medicine involves treating musculoskeletal problems, making it one of the most lucrative careers in the country.…

The Nigerian manufacturing sector is constrained by high interest rate, persistent inflationary pressures among many other things that’s weakened productivity of the nation’s real sector, according to a new report. PwC stated this in its outlook report titled ‘Nigeria’s 2025 Budget and Economic Outlook’ presented at an executive hosted by the tax advisory firm in partnership with BusinessDay on Thursday. “Foreign Exchange pressures, high energy costs and elevated interest rate continue to negatively impact operational and production cost of businesses in Nigeria especially the manufacturing sector,” the report said. It stated that high cost of input and the pass through…

The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has expressed optimism about Nigeria’s inflation trajectory for 2025, asserting that the country could achieve a significant reduction from the average inflation rate of 34.80 per cent in 2024 to 15 per cent. Oyedele said this at the PwC & BusinessDay Executive Roundtable on Nigeria’s 2025 Budget and Economic Outlook with the theme: ‘Insights and Strategies for Navigating Nigeria’s Economic, Fiscal and Policy Landscape in 2025’, on Thursday in Lagos. He outlined the factors influencing inflation and emphasised the structural reforms being implemented by the government.…

Trading activity on the Nigerian Exchange (NGX) in 2025 has been relatively subdued compared to the same period in 2024 as investors shop for cheap stocks. By January 19, 2024, the NGX had recorded a trading volume of approximately 14.2 billion shares, valued at N208.4 billion. In contrast, the corresponding period in 2025 has seen 8.6 billion shares traded, amounting to a value of N213.6 billion. A key trend shaping the market this year is the heightened focus on cheap stocks, both in terms of share price and price-to-earnings ratio. An analysis by BusinessDay reveals that the most actively traded…

A newly released Jumia report has said that e-commerce in Africa is set to surpass half a billion users by 2025. The report titled “Top Trends Defining 2025’s E-commerce Future” highlighted that these trends signal new opportunities for inclusivity, innovation, and customer-centric strategies. According to the report, e-commerce is poised for a transformative year in 2025, driven by technological advancements, evolving consumer behaviour, and the urgent need for innovation. “With online retail projected to account for 23 per cent of global purchases by 2027, businesses must adapt swiftly to remain competitive in this dynamic landscape,” the report said. “In Nigeria,…

Traditionally, roses, chocolates and thoughtful gestures have taken centre stage as the perfect expressions of love. But what if, this year, you give your partner a gift that keeps on appreciating, both emotionally and financially? TEMITOPE AINA writes Valentine’s Day is just weeks away, and as the countdown begins, many are already thinking about how to make this year’s celebration special. In this article, we will explore how gifting stocks can provide a unique, lasting, and impactful way to celebrate your love. Instead of a bouquet, consider a gift that can grow in value over time and an investment in…

Nigeria is preparing to persuade the Organisation of Petroleum Exporting Countries (OPEC) to increase its oil production quota as the country’s crude output recovers from years of decline. Gbenga Komolafe, chief executive of the Nigeria Upstream Petroleum Regulatory Commission (NUPRC), said the country is focused on ramping up production to meet budgetary targets before formally engaging OPEC for a quota review. “Nigeria is occupied with increasing production first to meet its budget aspiration and will then engage with OPEC to raise the nation’s quota,” Komolafe stated. Nigeria’s crude oil production rose to 1.48 million barrels per day (bpd) in December…

The Nigerian Exchange Limited continued its bearish trend on Thursday, as the benchmark All-Share Index dipped by 0.05 per cent, closing at 102,788.20. Despite the minor decline, the market posted a weekly gain of 0.59 per cent and a 4-week gain of 1.41 per cent. However, the year-to-date performance remained slightly negative, with a 0.13 per cent loss. The market capitalisation of the NGX currently stands at N63.1 tn, with 123 listed equities participating in today’s trading session, which ended with 28 gainers and 28 losers. SCOA Nigeria emerged as the top gainer, appreciating by 9.76 per cent to close…

As a BRICS partner member, Nigeria gets to participate in trade and investment, food security, and other benefits with other emerging economies, but the majority of its foreign-traded goods are usually deemed non-competitive, which is detrimental to the prospects, ARINZE NWAFOR writes Nigeria joined the BRICS as a partner member on January 17, 2025, and stakeholders in the real sector have received the news fairly positively. Some stakeholders have described the benefits of increased investments, bilateral and multilateral trade, diplomatic influence, and asserting sovereignty as net positives for joining the economic and political bloc. They have also recognised that Nigeria…

The National Association of Telecommunications Subscribers will engage the Nigerian Communications Commission on Friday, seeking a possible reversal of the 50 per cent telecom tariff hike to 10 per cent, as the Nigeria Labour Congress signals readiness for protest. The Federal Government approved a 50 per cent increase after operators initially requested a 100 per cent hike. However, subscribers are pushing for a 10 per cent adjustment, and if talks fail, they plan to file a lawsuit next week to challenge the decision. The hike, the first in over a decade, is aimed at revitalising the struggling telecom sector, which…

the company behind coding tools like the IntelliJ IDE for Java and Kotlin (and, indeed, the Kotlin language itself), on Thursday launched Junie, a new AI coding agent. This agent, the company says, will be able to handle routine development tasks for when you want to create new applications — and understand the context of existing projects you may want to extend with new features. Using the well-regarded SWE-Bench Verified benchmark of 500 common developer tasks, Junie is able to solve 53.6% of them on a single run. Not too long ago, that would have been the top score, but…

A researcher from the Department of Mathematical Sciences at Adekunle Ajasin University, Ondo State, Olatunji Oluwafemi, has developed advanced numerical models aimed at addressing economic risks and dynamics, according to a statement released on Monday. The statement highlighted the growing demand for precise computational methods across various sectors, including environmental modeling, chemical processes, and economic policy development. Oluwafemi’s research focuses on solving stiff differential equations, crucial for modeling complex and sensitive phenomena that require exceptional accuracy and stability. “With economies increasingly interconnected and vulnerable to rapid shifts, the need for reliable computational tools has never been greater,” said Oluwafemi. He…

SHANGHAI/HONG KONG, Jan 23 (Reuters) – China unveiled plans on Thursday to direct hundreds of billions of yuan from state-owned insurers into the stock market, marking the latest in a series of government efforts to bolster its struggling equities market. The initiative, announced by six of China’s financial regulators—including the securities watchdog—was first revealed on Wednesday, coinciding with Donald Trump’s return to the U.S. presidency. This timing, shortly after Trump threatened to impose a 10% punitive tariff on Chinese imports, highlighted Beijing’s determination to stabilize its markets amid a potentially tense geopolitical landscape. Following a press conference by China Securities…

The Central Bank of Nigeria has advised businesses to embrace exporting activities in a bid to harness value from the weak state of the naira. This call was made by the Deputy Governor, Economic Policy, Central Bank of Nigeria, Muhammad Abdullahi, on Tuesday during his keynote address at the 11th National Economic Outlook: Implications for Businesses in Nigeria 2025 organised by the Chartered Institute of Bankers of Nigeria Centre for Financial Studies in Lagos. The naira ended 2024 with significant depreciation across foreign exchange markets, recording a 40.9 per cent loss, and has struggled since the harmonisation of the segments…

Key Takeaways AI-driven SaaS is improving the customer experience through hyper-personalization and embedded AI technology, making it a profitable and appealing business model for entrepreneurs and investors. Economic pressures are driving demand for affordable, results-driven marketing services, creating opportunities for small-scale agencies to offer cost-effective, hybrid-model solutions that blend DIY tools with expert consulting. Immersive commerce is growing — augmented reality and virtual reality are subtly enhancing online shopping experiences, allowing consumers to visualize and interact with products before buying them. Subscribe to the Entrepreneur Daily newsletter to get business news, tips and inspiration sent to your inbox Email Opinions…

The stock market isn’t in a bubble yet, but it’s edging closer, with six out of seven conditions for one already in place, according to stock-market strategist Andrew Garthwaite. UBS’s global equity strategist developed a “bubble checklist” by comparing current market conditions to past bubbles, including the dot-com bubble of the late 1990s and Japan’s asset bubble in the 1980s. Key conditions for a bubble: End of a structural bull market: Check. UBS defines a structural bull market as one where equities outperform bonds by at least 5% annually over a 10-year period. Profits under pressure: Check. Earnings growth is…

Nigeria’s manufacturing sector struggled in business performance in December 2024, according to the Business Confidence Monitor report compiled by the Nigeria Economic Summit Group and Stanbic IBTC. The manufacturing sector struggled despite a slight boost in Nigeria’s Business Confidence in the month under review, the report noted. According to the report, the Business Performance Index for December 2024 stands at +0.77 up from -2.74 in November, signaling a modest recovery in commercial activity typically linked to the holiday season. However, the manufacturing sector lagged in performance, with a negative performance score of -2.43. Whereas other sectors such as Agriculture and…

The Chairman and Chief Executive Officer of the Nigerians in Diaspora Commission, Abike Dabiri-Erewa, has congratulated Nigerian-born broadcaster Richard Edoki, known as Richybongo, on his nomination for Best Newcomer at the National Hospital Radio Awards 2025. This was contained in a congratulatory message issued by the Commission’s Director of Media, Public Relations, and Protocols Unit, Abdur-Rahman Balogun, in Abuja. Dabiri-Erewa commended Edoki’s efforts as a shining example of Nigerian excellence in the diaspora while wishing him success at the awards ceremony, set for April 5, 2025, in Leicestershire. The National Hospital Radio Awards is a yearly event organised by the…