BusinessDay
Nigeria's leading finance and market intelligence news report.

LEAD STORIES

Isolated lockdown: Hard option for FG

Chuka Uroko
The Presidential Task Force (PTF) on Covid-19 was at the Presidential Villa Abuja on Monday to brief President Muhammadu Buhari on the efforts and progress made so far with the fight against the deadly virus that has changed fundamentally the way the…

COLUMNISTS

Recent

Today's E-paper

Businessday Investigates

How gas firms, Imo government exploit oil-producing communities

Odinaka Anudu
The people of oil-rich Ohaji, Egbema and Oguta local councils in Imo State, Southeast Nigeria, are…

Short Takes

Here’s what happens in office space market as companies embrace new normal

Chuka Uroko
The ‘new normal’ of working remotely, mainly from home, triggered by social…

Here are 5 catalysts needed to make Africa a global competitive economy 

Okafor Endurance
The challenges constraining Africa’s economy from competing with its global…

Is Nigeria’s $2.8 billion AKK pipeline project economically viable or bridge to nowhere?

Oladehinde Oladipo
Successive Nigerian governments have talked about better utilising the country’s…

Coronavirus Watch

Lagos’ discharged COVID-19 cases now 1,740 as 45 patients reunite society

BusinessDay
Forty-five new COVID-19 patients were on Sunday discharged from isolation facilities in Lagos, bringing to 1,740 …

Ghanaian president goes into isolation after meeting COVID-19 patient

Anthony Nlebem
President of Ghana, Nana Akufo-Addo, has gone into isolation for two weeks after someone close to him tested…

2,430 COVID-19 patients in Lagos avoiding admission in isolation centres –…

Anthony Nlebem
The Lagos State commissioner for health, Akin Abayomi, says 2,430 patients who tested positive for COVID-19 in the…

COVID-19: Reopening schools now is premature – ANAP

Our Reporter
The ANAP Foundation COVID-19 Think Tank (the ANAP Think Tank) has viewed with great concern the proposal to re-open…

PREMIUM

Nigerian banks bleed amid world’s highest cash reserves

Lolade Akinmurele
For every N100 deposit held by Nigerian commercial banks, about N60 idles away with the central bank as regulatory…

How gas firms, Imo government exploit oil-producing communities

Residents groan as rains expose Lagos’ dilapidated roads

Amid poor supply, GenCos say 4000MW of power is rejected daily

Why we are against increasing electricity tariff now – DisCos

Why we are against increasing electricity tariff now – DisCos

Isaac Anyaogu
Though the current electricity tariff charged customers is lower than the cost, electricity distribution companies…

COVID-19: Nigeria turns to precision lockdown to halt mounting…

Osinbajo to lead consultation on electricity tariff increase today

New electricity tariff postponement means more trouble for economy

Nigeria working towards meeting World Bank’s FX unification…

Start-Up Journal

The African SME: Investing in women

The African SME story, powered by Support4AfricaSMEs and Business Day, shares stories of African SMEs thriving…

Oma Living Show: Celebrating unsung heroes and bringing them to limelight

Oma Marilyn is a driving force across various sectors of African media, holding key roles as a Radio and TV…

‘SMEs must adapt their business models to workable models to survive’

Kemi Ogunkoya is the Founder of Rellies Works, a leadership consultancy firm that equips business leaders with the…

Rosemary Owolabi: Building successful interior design brand

Building a successful interior design brand can be very tough in Nigeria. But this is not the case for Rosemary…

Sponsored

How to achieve your financial goals without stress

BusinessDay
Imagine that in 3 years time, you might be turning this side hustle into a big business or getting set to buy a…

Honoris United Universities Welcomes Nile University of Nigeria to its…

Ifeoluwa Awosoji
Abuja, 2nd July 2020 – Honoris United Universities, Africa’s first and largest pan-African network of private…

Could cloud contact centres ease the traditional pains Nigerian companies…

Olatayo Ladipo-Ajai
Although Nigeria is an emerging market in many aspects and industries, customers in this region like those across…

Custodian Investment: Exceeding Expectations for 25 years

BusinessDay
Every journey starts with a step and ours is not any different with the history of our success beginning in 1991…

OIL PRICE CRASHES, ECONOMY IN TURMOIL

Good news for Nigeria as Citigroup expects bullish crude price at $60 in…

The price of crude oil is expected to become bullish and climb to $60 per barrel in the next 12 months as demand is…

South Korea’s oil refining success shows how Nigeria squandered golden…

Two weeks after the release of the 2017 and 2018 audited accounts of the PortHarcourt, Warri and Kaduna refineries,…

Oil inches above $41 for first time since March in respite for Nigeria’s…

Brent crude is trading above $41 per barrel on Friday with hopes that OPEC would extend its oil production curb…

Explainer: What wave of bankruptcies in US shale industry means for…

There is light at the end of the tunnel for Nigeria and OPEC+ countries as the biggest independent shale oil groups…

Editorial

COVID-19 four months after: The known and unknown

The Editorial Board
Four months after, the COVID-19 virus arrived on the shores of Nigeria and disrupted the activities of economic…

Opinion

Psychopathy or Patriarchy: Re-imagine a world with less ‘special’…

Leadership and conflict resolution

Govt officials as investment clogs in the Niger Delta?

Shelter as a tool for societal development  

The role of technology in preventing societal dystopia

Nigeria: Debt burden nears a point of no return

Re-imagining the business school model

The year of gas in Nigeria: Takeaways from $2.8bn AKK Gas Pipeline…

Leveraging the capital market & private sector to bridge…

Wealth And Investing

Recapitalisation: Small insurers have option of merger or squeezed out by competition Dec.…

Modestus Anaesoronye
Small sized insurance firms that may not be able to meet 50 percent of the minimum paid up share capital by December 31, 2020, as directed by the National Insurance Commission (NAICOM), will face…

Financial Health Check-up? These Personal Finance Ratios…

Inflation is Stealing Your Money

Herbert Wigwe splashes N21m on new Access Bank shares

How to reduce labour costs in your business without firing…

In Focus

COVID-19: Nigeria turns to precision lockdown to halt mounting…

Osinbajo to lead consultation on electricity tariff increase today

New electricity tariff postponement means more trouble for economy

Nigeria working towards meeting World Bank’s FX unification…

Shell’s $22bn loss waves warning flag to Nigeria’s indigenous oil…

Women in Business

Women in Business: Odunayo Sanya

Kemi Ajumobi
Odunayo is a versatile professional with 20+ years of postgraduate work experience in the education, financial…

Women in Business: Abimbola Alale

Kemi Ajumobi
Abimbola H. Alale (Ph.D) is the current Managing Director and Chief Executive Officer of the Nigerian Communication…

Meet Aderinola Mary Ojulari, the boss lady at Mercedes-Benz Nigeria  

Kemi Ajumobi
Aderinola Mary Ojulari is the Deputy Managing Director/ Chief Finance Officer at Weststar Associates Limited…

Abimbola Fashola, deliberate about teaching morals, upholding the value of…

Kemi Ajumobi
Dame Abimbola Emmanuella Fashola was born into the Ojo Ibadan family of Ibadan, Oyo State. She is a Secretary…

Interview

Aig-Imoukhuede on the business of saving lives

Our Reporter
He speaks with the management of GBCHealth, a New York based leading private sector coalition on health on ongoing…

New BBC, MTN partnership aims to tackle fake news, reduce data usage

Micheal Ani
After successfully launching the BBC News Minute Bulletin, an initiative aimed at delivering verified news in…

Lessons from Baef, the EcoSpot farmer

Ayo OyozeBaje
Introduction: Further to our determined quest to meet with young Nigerians, who are actively engaged in modern…

Companies

Stanbic IBTC, EFG Hermes lead as transactions rise by 21% in H1 2020

Teliat Sule
In spite of the Covid 19 pandemic, stakeholders at the nation’s capital market executed N1.01 trillion worth of…

Julius Berger, Lafarge, MTN boost indices as NSE conducts half year reviews

Teliat Sule
THE Nigerian Stock Exchange (NSE) has come up with the half year reviews of sectoral indexes and some indices have…

PwC Nigeria admits 8 new partners

Teliat Sule
PwC Nigeria announced it has admitted eight professionals into its partnership, effective 1 July, 2020. This is a…

Economy

NSIA grows total assets to N649.84bn in 2019

Micheal Ani
The Nigeria Sovereign Investment Authority recorded a five percent growth in Total Assets from N617.7bn in 2018 to…

Business-friendly environment will help Nigeria attract investments –…

Odinaka Anudu
Nigeria must improve its business environment and remove barriers to trade to attract local and foreign direct…

Akwa Ibom grants tax holiday but uncertainty remains over implementation

Aniefiok Udonquak
Akwa Ibom State government has announced plans to grant a waiver to taxpayers as part of efforts to cushion the…

Energy

Market constraints, estimated billing, debts top DisCos’ concerns about new…

Isaac Anyaogu
Implementing a cap on estimated billing when about 60 percent of customers have no meters and ordering a tariff…

NNPC announces top-management level appointments, redeployments

Olusola Bello
The Nigerian National Petroleum Corporation (NNPC) has announced new appointments and redeployments in the National…

N240bn debt: Pan Ocean condemns AMCON’s ‘illegal takeover’ of assets

Oladehinde Oladipo
Indigenous oil firm Pan Ocean Oil (Nigeria) Limited has expressed dismay over what it termed the "illegal…

Politics

Dangote did not endorse any candidate for Edo guber, says Chiejina

BusinessDay
Group chief corporate communications officer of the Dangote Group, Anthony Chiejina, has refuted an allegation that…

PDP constitutes screening appeal panel for Ondo guber

Solomon Ayado
The National Working Committee (NWC) of the People's Democratic Party (PDP) has approved the nomination of party…

Rivers APC: Group raises alarm over plots to compromise court judgment

Innocent Odoh
A group of concerned citizens of Rivers State has raised the alarm over alleged plot to compromise the court…

Markets

Stanbic IBTC, EFG Hermes lead as transactions rise by 21% in H1 2020

Teliat Sule
In spite of the Covid 19 pandemic, stakeholders at the nation’s capital market executed N1.01 trillion worth of…

Julius Berger, Lafarge, MTN boost indices as NSE conducts half year reviews

Teliat Sule
THE Nigerian Stock Exchange (NSE) has come up with the half year reviews of sectoral indexes and some indices have…

FX turnover declines by 48.73% as Naira maintains stability 

Hope Ashike
The foreign exchange daily turnover declined by 48.73 percent to $105.05 million on Friday from $204.90 million…

Magazines

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Technology

After a spectacular previous year, COVID-19 casts spell on Carbon’s 2020…

Frank Eleanya
For Carbon, a Nigerian-based digital banking firm, the year 2019 was a spectacular year in terms of revenue and…

Nigeria Telecoms  subscribers soar over 189mn in Q1 2020

Cynthia Egboboh
Telecoms active subscribers on voice  increased to 189,282,796 in Q1 2020, representing a 2.48 percent increase…

The good and not so great of CBN’s Regulatory Sandbox

Frank Eleanya
The Central Bank of Nigeria would be ushering in a new era of regulation in the fintech space as soon as its…

Nigeria’s internet users surge 14% in year to May 2020

Okafor Endurance
The number of internet users in Nigeria increased by 14 percent year-on-year in May 2020, according to the data…

Life and Culture

‘A Thousand Miles’ goes on set soon as promoters announce completion of…

Chuks Oluigbo
Promoters of ‘A Thousand Miles’, the soulful story of a naïve young girl and a group of desperate Africans bound…

Post COVID-19 Repositioning: Ooni of Ife endorses the €1 billion Open line…

BusinessDay
On Friday 3rd July 2020 an inauguration meeting was held between Black Swan Innovations AS (BSI-AS) and the key…

Radisson Hotel Group announces new appointments to drive renewed expansion…

Emelike Obinna
Radisson Hotel Group is pleased to announce the appointment of Ramsay Rankoussi as the new head of development for…

How Dubai as a destination is beefing up efforts in fight against COVID-19

Ifeoma Okeke
Coronavirus disease 2019 (COVID-19) caused by Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2) proven…

Top Videos

Podcast

Market Intelligence

Nigerian refineries face impending solvency over debt

Bala Augie
Nigeria’s largest refineries face impending insolvency over debt, as they continue to generously pay workers for…

Dangote Cement Plc: Resilient Q1 2020 results amid early impacts of…

Bala Augie
While manufacturers have seen earnings go up in flames due to the devastating impact of coronavirus pandemic…

These sectors may shoulder Nigeria during economic recession

Olufikayo Owoeye
The impact of lockdown on economic activities in the three states of Ogun, Lagos, and FCT, that cumulatively…

Quiet trading seen this week on tightened liquidity

Hope Ashike
The financial market is expected to witness quiet trading sessions this week due to a tightened system liquidity,…

Financial Times

The lockdown death of a 20-year-old day trader

Financial Times
Alex Kearns was an ordinary 20-year-old. He played the trombone, studied at the University of Nebraska and, like…

Ukraine scraps bond sale after central bank governor quits

Financial Times
Ukraine has cancelled a bond sale hours after the country’s central bank chief Yakiv Smolii announced his…

Delistings threaten to spoil Singapore exchange’s challenge to HK

Financial Times
Singapore’s stock exchange is struggling with a rash of delistings and governance scandals that threaten its…

Tesla shares surge as carmaker rides out coronavirus shutdown

Financial Times
Tesla revealed on Thursday it had ridden out the coronavirus shutdown far better than expected, triggering a…

Backpage

Avoiding or mitigating recession in post Covid-19 Nigeria

OLISA AGBAKOBA
Introduction The massive macro-financial shock caused by Covid-19 has continued to ravage the global economy…

Radical solution to educational crises in Nigeria (Part 1)

Prof. B. Chima Onuoha
It is no longer news that Nigeria’s educational sector is in shambles. United Nations International Children's…

Covid-19: President Buhari should call Bello to order as gun shots decide…

Ikeddy ISIGUZO
Battles over the coronavirus pandemic assumed new dimensions at the Federal Medical Centre (FMC), Lokoja, Kogi…

National Consultative Front (NCF) and the challenges ahead

Ayo Oyoze Baje
“The opposition can only be victorious in 2023 general election when there is only one united front. Let us work…

Lead Stories

Market constraints, estimated billing, debts top DisCos’ concerns about new…

Isaac Anyaogu
Implementing a cap on estimated billing when about 60 percent of customers have no meters and ordering a tariff…

COVID-19: Reopening schools now is premature – ANAP

Isolated lockdown: Hard option for FG

Confusion as Nigeria applies dichotomous protocols for burial of…

Recent

Confusion as Nigeria applies dichotomous protocols for burial of…

Despite 99% awareness, Nigerians still ignorant of COVID-19 –…

Business-friendly environment will help Nigeria attract investments…

Here’s what happens in office space market as companies embrace new…

2 killed, several injured as Boko Haram attacks UN helicopter

Today's E-paper

Columnists

NBC amendment: A microcosm of the war for Nigeria’s soul

David Hundeyin

Diversity, inclusion and the challenges

Olamide Balogun

The art of gifting

Eugenia Abu

Dateline Lagos 1925-1931 – the gunpowder plot

Femi Olugbile

Wash your hands off the matter or wash your hands of the…

Dr Ganiu Bamgbose

Coro: Opening up of interstate travel and sundry issues…Edo:…

I.K Muo

Businessday Investigates

How gas firms, Imo government exploit oil-producing communities

Odinaka Anudu
The people of oil-rich Ohaji, Egbema and Oguta local councils in Imo State, Southeast Nigeria, are cut off from the…

Short Takes

Here’s what happens in office space market as companies embrace new normal

Chuka Uroko
The ‘new normal’ of working remotely, mainly from home, triggered by social distancing as one of the preventive…

Here are 5 catalysts needed to make Africa a global competitive…

Is Nigeria’s $2.8 billion AKK pipeline project economically viable or…

7 new numbers that bring you up to speed on COVID-19 in Lagos

Coronavirus watch

Lagos’ discharged COVID-19 cases now 1,740 as 45 patients reunite society

BusinessDay
Forty-five new COVID-19 patients were on Sunday discharged from isolation facilities in Lagos, bringing to 1,740 …

Ghanaian president goes into isolation after meeting COVID-19 patient

2,430 COVID-19 patients in Lagos avoiding admission in isolation…

COVID-19: Reopening schools now is premature – ANAP

Premium

Nigerian banks bleed amid world’s highest cash reserves

Lolade Akinmurele
For every N100 deposit held by Nigerian commercial banks, about N60 idles away with the central bank as regulatory…

How gas firms, Imo government exploit oil-producing communities

Residents groan as rains expose Lagos’ dilapidated roads

Amid poor supply, GenCos say 4000MW of power is rejected daily

Why we are against increasing electricity tariff now – DisCos

Start-Up Journal

The African SME: Investing in women

Linda Ochugbua
The African SME story, powered by Support4AfricaSMEs and Business Day, shares stories of African SMEs thriving…

Oma Living Show: Celebrating unsung heroes and bringing them to…

‘SMEs must adapt their business models to workable models to survive’

Rosemary Owolabi: Building successful interior design brand

Sponsored

How to achieve your financial goals without stress

BusinessDay
Imagine that in 3 years time, you might be turning this side hustle into a big business or getting set to buy a…

Honoris United Universities Welcomes Nile University of Nigeria to its…

Could cloud contact centres ease the traditional pains Nigerian…

Custodian Investment: Exceeding Expectations for 25 years

OIL PRICE CRASHES, ECONOMY IN TURMOIL

Good news for Nigeria as Citigroup expects bullish crude price at $60 in next 12…

Okafor Endurance
The price of crude oil is expected to become bullish and climb to $60 per barrel in the next 12 months as demand is…

South Korea’s oil refining success shows how Nigeria squandered golden…

Oil inches above $41 for first time since March in respite for…

Explainer: What wave of bankruptcies in US shale industry means for…

Nigeria’s oil & gas sector attracts $10m capital inflow in Q1…

Opinion

Psychopathy or Patriarchy: Re-imagine a world with less ‘special’ privileges

Chinasa Ken-Ugwuh
Allow me introduce my self - My name is Chinasa, Tolulope Ken-Ugwuh (and the names, albeit mixed, still do…

Leadership and conflict resolution

Govt officials as investment clogs in the Niger Delta?

Shelter as a tool for societal development  

Podcast

WEALTH AND INVESTING

Recapitalisation: Small insurers have option of merger or squeezed out by…

Modestus Anaesoronye
Small sized insurance firms that may not be able to meet 50 percent of the minimum paid up share capital by…

Financial Health Check-up? These Personal Finance Ratios Come in Handy…

Inflation is Stealing Your Money

Herbert Wigwe splashes N21m on new Access Bank shares

Women In Business

Women in Business: Odunayo Sanya

Kemi Ajumobi
Odunayo is a versatile professional with 20+ years of postgraduate work experience in the education, financial…

Women in Business: Abimbola Alale

Meet Aderinola Mary Ojulari, the boss lady at Mercedes-Benz Nigeria  

Abimbola Fashola, deliberate about teaching morals, upholding the…

Companies & Market

Stanbic IBTC, EFG Hermes lead as transactions rise by 21% in H1 2020

Teliat Sule
In spite of the Covid 19 pandemic, stakeholders at the nation’s capital market executed N1.01 trillion worth of…

Julius Berger, Lafarge, MTN boost indices as NSE conducts half year…

FX turnover declines by 48.73% as Naira maintains stability 

These 14 NSE stocks yielded positive returns in excess of +10 as at…

Magazines

Interview

Aig-Imoukhuede on the business of saving lives

Our Reporter
He speaks with the management of GBCHealth, a New York based leading private sector coalition on health on ongoing…

New BBC, MTN partnership aims to tackle fake news, reduce data usage

Lessons from Baef, the EcoSpot farmer

‘Nigerian states must institutionalise PPP to bridge infrastructural…

Economy & Politics

Dangote did not endorse any candidate for Edo guber, says Chiejina

BusinessDay
Group chief corporate communications officer of the Dangote Group, Anthony Chiejina, has refuted an allegation that…

PDP constitutes screening appeal panel for Ondo guber

Rivers APC: Group raises alarm over plots to compromise court judgment

NSIA grows total assets to N649.84bn in 2019

Energy & Technology

Market constraints, estimated billing, debts top DisCos’ concerns about new…

Isaac Anyaogu
Implementing a cap on estimated billing when about 60 percent of customers have no meters and ordering a tariff…

NNPC announces top-management level appointments, redeployments

N240bn debt: Pan Ocean condemns AMCON’s ‘illegal takeover’ of assets

Nigeria, Iraq and Kuwait finally comply with production cut as they…

Life and culture

‘A Thousand Miles’ goes on set soon as promoters announce completion of script

Chuks Oluigbo
Promoters of ‘A Thousand Miles’, the soulful story of a naïve young girl and a group of desperate Africans bound…

Post COVID-19 Repositioning: Ooni of Ife endorses the €1 billion Open…

How I created wealth through the Internet – Mola, Mentorship…

How I built a career round brand influencing on social media — Ashmusy

Financial Times

The lockdown death of a 20-year-old day trader

Financial Times
Alex Kearns was an ordinary 20-year-old. He played the trombone, studied at the University of Nebraska and, like…

Ukraine scraps bond sale after central bank governor quits

Delistings threaten to spoil Singapore exchange’s challenge to HK

Tesla shares surge as carmaker rides out coronavirus shutdown

Backpage

Avoiding or mitigating recession in post Covid-19 Nigeria

OLISA AGBAKOBA
Introduction The massive macro-financial shock caused by Covid-19 has continued to ravage the global economy…

Radical solution to educational crises in Nigeria (Part 1)

Covid-19: President Buhari should call Bello to order as gun shots…

National Consultative Front (NCF) and the challenges ahead

More Stories

CACOVID boosts NCDC’s COVID-19 effort with donation of N1.4bn medical equipment, 26,400 test kits

BusinessDay
The private sector-led Coalition against COVID-19 (CACOVID) has donated to the Nigeria Centre for Disease Control…

Reps to verify responses to N161.98m audit queries by Finance Ministry

James Kwen
The House of Representatives Public Accounts Committee has resolved to set up a sub-committee to verify information…

Uzodimma assures on accelerated development of Imo communities

BusinessDay
Imo State Governor Hope Uzodimma has assured Imo communities of accelerated development during his tenure and…

Market constraints, estimated billing, debts top DisCos’ concerns about new electricity tariff

Isaac Anyaogu
Implementing a cap on estimated billing when about 60 percent of customers have no meters and ordering a tariff…

Lagos blames collapsed Mile 2 road, flood on dumping of refuse in drains 

Joshua Bassey
The Lagos State government at the weekend blamed the collapse of Mile 2 section of Lagos-Badagry Expressway and…

COVID-19: Reopening schools now is premature – ANAP

Our Reporter
The ANAP Foundation COVID-19 Think Tank (the ANAP Think Tank) has viewed with great concern the proposal to re-open…