Business and economic news
KPMG has appointed Tola Adeyemi as Chief Executive Officer of KPMG One Africa and named Professor Olayinka David-West and Dr George Njenga as independent members of its Africa Governance Council, with the changes taking effect in March 2026. The firm said the
The Bureau of Public Procurement says all federal contractors must submit bids electronically from March 2, 2026, as part of reforms aimed at transparency, accountability and stronger procurement outcomes.
ECOWAS and the African Development Bank Group have begun operational rollout of the Abidjan-Lagos Corridor authority after inducting its board, with Nigeria among five countries backing the treaty and project financing push.
The Nigerian equities market gained N24.4 trillion between January and February 2026 as stronger company results, pension-fund policy changes and improving macro signals pushed investors from low-yield bonds into stocks.
Inflation and food prices have eased, but many Nigerians say stagnant wages, higher rent and transport costs continue to outweigh macroeconomic improvements.
Flour Mills of Nigeria said its partnership at the 62nd Paris International Agricultural Show supports stronger trade ties with France and wider opportunities for Nigerian agribusiness.
As Nigeria seeks to close its housing gap, Dr CKC Obiekwe’s focus on clear-title land systems, planned estates and diaspora-linked projects is being cited as part of broader private-sector support for national growth.
The Maritime Workers Union of Nigeria shipping branch visited WACT in Onne, praised the terminal’s $115 million upgrade investment, and called for deeper cooperation on labour relations, safety and upcoming union elections.
PETROAN says Nigeria should complete the privatisation of NNPC refineries by the first quarter of 2026, arguing that private-sector control is needed to end repeated losses, improve efficiency and reduce dependence on imported fuel.
NIPCO Gas says the Sagamu–Ibadan gas pipeline is now 80 per cent complete and on track for delivery between June and July, with expected gains for manufacturers in Ogun and Oyo states.
Nigeria’s equities market closed lower again, wiping N475 billion off investor holdings as persistent profit-taking in major stocks dragged key indicators.
Nigeria’s economy expanded by 4.07 per cent year-on-year in real terms in the fourth quarter of 2025, according to the latest Gross Domestic Product report released by the National Bureau of Statistics, with services remaining the biggest contributor to output.
