Tinubu Unveils $465m Plan to Revive Aluminium Smelter Company of Nigeria
President Bola Tinubu has announced a $465 million investment proposal aimed at revitalising the Aluminium Smelter Company of Nigeria (ALSCON). The initiative is expected to restore operations at the long-dormant facility, boost local production, create jobs, and strengthen Nigeria’s industrial base.
Sowore Rejects Rotational Presidency, Calls for Competent Leadership in Nigeria
Omoyele Sowore, activist and former presidential candidate, has criticized the idea of a rotational presidency in Nigeria, arguing that the country’s focus should be on electing capable and visionary leaders, regardless of their region or ethnicity. He maintained that true progress would only come through merit-based leadership, not power-sharing arrangements based on geography.
Dangote: NNPC Refineries May Never Function Again Despite $18bn Spent
July 12, 2025
President of the Dangote Group, Alhaji Aliko Dangote, has cast serious doubt over the future of Nigeria’s state-owned refineries, saying they may...
Tinubu’s Reforms Lay Solid Ground for Energy Investment — Lokpobiri
July 12, 2025
Nigeria’s Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has said that the legal and regulatory reforms introduced by President...
Ellison Overtakes Musk as World’s Richest Man with $101 Billion Surge
New York — Oracle co-founder Larry Ellison briefly overtook Elon Musk on Wednesday to become the world’s richest man, following a record-breaking surge in his fortune driven by Oracle Corp.’s blockbuster earnings report.
Incomplete Documentation Stalling Disbursement of N75bn Loans to Beneficiaries – BoI
The Bank of Industry (BoI) has revealed that the disbursement of the ₦75 billion loan facility to Micro, Small, and Medium Enterprises (MSMEs) is being delayed due to incomplete documentation by applicants. The bank urged prospective beneficiaries to ensure proper submission of required documents to speed up the loan approval and disbursement process.
Naira Strengthens Against Dollar Amid Surge in External Reserves
The Nigerian naira continued its upward trajectory against the US dollar, buoyed by a significant rise in the country’s external reserves. Financial analysts attribute the currency’s appreciation to increased foreign inflows and improved confidence in Nigeria’s monetary policies. This development signals a positive shift in the foreign exchange market and offers hope for economic stability.
BUSINESS: Tax ID to Become Mandatory for Bank Account Opening from January 2026
Beginning January 1, 2026, all Nigerians and non-residents will be required to present a Tax Identification Number (Tax ID) to open or operate bank accounts in the country.
New Law Will Enhance Insurance Sector’s GDP Impact — NAICOM
The National Insurance Commission (NAICOM) has expressed optimism that the recently enacted insurance law will significantly enhance the sector’s contribution to Nigeria’s Gross Domestic Product (GDP). According to the Commission, the new legislation introduces key reforms aimed at strengthening regulation, promoting investor confidence, and expanding insurance penetration across the country.
NGX Approaches ₦100 Trillion Market Capitalization as 35 Stocks Drive Rally
The Nigerian Exchange (NGX) is on the verge of hitting a historic ₦100 trillion in market capitalization, fueled by strong performances from 35 bullish stocks. The surge reflects growing investor confidence and momentum across key sectors, pushing the market to record-breaking levels.
