Hello Readers, Bizwatchnigeria brings you the latest business news highlights in Nigeria for the week of January 19th–25th, 2025.
Vice President Shettima Leads Discussions At World Economic Forum 2025
Nigeria’s Vice President, Kashim Shettima, is actively participating in the 2025 World Economic Forum (WEF) Annual Meeting in Davos, Switzerland. He is engaging in high-level discussions focused on economic growth, investment in Africa, and global risk management.
NCC Approves 50% Tariff Hike For Telecom Operators
The Nigerian Communications Commission (NCC) has approved a 50% tariff adjustment for telecom services, citing rising operational costs. This is the first rate adjustment since 2013.
GDP Rebasing Should Not Downplay Nigeria’s Economic Challenges – MAN DG
The Director-General of the Manufacturers Association of Nigeria (MAN), Segun Ajayi-Kadir, urges the Nigerian government not to use the rebasing of the Gross Domestic Product (GDP) to minimize the country’s economic difficulties.
CBN Releases FX Code To Strengthen Ethical Standards In Nigeria’s Foreign Exchange Market
The Central Bank of Nigeria (CBN) approves the Nigerian Foreign Exchange (FX) Code, a regulatory framework aimed at promoting ethical conduct, transparency, and stability in the country’s FX market.
Nigerian Manufacturers Call For Timely Passage Of Tax Bills, Infrastructure Upgrades, And Economic Reforms
The Manufacturers Association of Nigeria (MAN) urges the Federal Government to prioritize the timely passage of the controversial tax bills and improve road infrastructure, among other essential demands.
Central Bank Of Nigeria Predicts 4.17% Economic Growth In 2025
The Central Bank of Nigeria (CBN) has projected that the country’s economy will grow by 4.17% in 2025, showing signs of faster progress. Mr. Muhammad Abdullahi, Deputy Governor of the CBN’s Economic Policy Directorate, shared this positive outlook at the 11th National Economic Outlook event held in Lagos.
Nigeria Requires $360 Million To Achieve 98% 4G Coverage, GSMA Reports
The Global System for Mobile Communications (GSMA) reports that Nigeria needs an investment of approximately $360 million to extend 4G coverage to 98% of its geographical area.
Market Wrap: All-Share Index Declines 0.05% As SEPLAT And ARADEL Lead Trading Value
The All-Share Index closes the trading day on January 23, 2025, with a decline of 48.15 points, settling at 102,788.20. This marks a slight drop of 0.05% from the previous close of 102,836.35, despite a marginal increase in trading volume.
Nigerian Government Bond Sees Sell-Offs Ahead Of ₦450 Billion Auction
The Nigerian bond market experienced increased selling activity as investors prepared for the government’s first bond auction of 2025, scheduled for Monday. This caused the average yield on government bonds to rise to 20.80%.
Nigeria And Other African Nations Push For Full AfCFTA Implementation To Achieve $29 Trillion Economy
Nigeria’s Vice President, Kashim Shettima, joins global leaders in advocating for the full implementation of the African Continental Free Trade Area (AfCFTA) to position Africa’s economy for a projected $29 trillion expansion by 2050.
Nigeria Seeks Partnership With World Economic Forum On African Atlantic Gas Pipeline Project
The Federal Government of Nigeria seeks to partner with the World Economic Forum (WEF) on the African Atlantic Gas Pipeline (AAGP) project, which aims to connect Nigeria to Morocco and other African nations, enhancing regional energy security and fostering economic growth.
