Real estate sector surges to N41.3tn, boosts economy –

Stakeholders have commended the recent GDP rebasing, noting that the real estate sector’s valuation has climbed to N41.3tn, highlighting its rising contribution to the nation’s economy. The contribution of Nigeria’s real estate sector to the economy surged to N41.3tn in 2024, making it the country’s third-largest economic sector, behind only trade and crop production. This is according to the latest rebased Gross Domestic Product figures released by the National Bureau of Statistics. The latest figure from NBS shows a significant upward revision of the sector’s economic value…..(Read More)

States insist on right to slash tariffs, tackle FG –

Enugu and other states have disagreed with claims by the Nigerian Electricity Regulatory Commission that sub-national entities cannot fix electricity tariffs because they do not generate and transmit electricity. The Special Adviser to the Enugu Governor on Power, Joe Aneke, said states have the power to design tariffs as far as distribution is concerned. Speaking during a webinar hosted by the Lagos State Commissioner for Energy and Mineral Resources, Biodun Ogunleye, on Saturday, Aneke said the new tariff by the Enugu Electricity Regulatory Commission did not tamper with the costs of generation and transmission, saying it based its calculations on distribution only……(Read More)

Discos owe N2.75trn in tax, salaries, others – Report –

A report by the Nigerian Electricity Regulatory Commission (NERC) has stated that the 11 electricity distribution companies have a combined debt liability of N2.75trillion. According to the report, the liability is in the form of taxes, trade payables, debts and others. The report however said the DisCos have a combined asset of N3.61tr. The report is an order for the DisCos to demarcate their assets along states to ease the regulatory functions of the states when they enact the 2023 Electricity Act……(Read More)

FX, price stability in focus after MPC rate decision –

Financial analysts are optimistic that the Monetary Policy Committee of the Central Bank of Nigeria holding benchmark rates will further sustain relative stability in the country’s foreign exchange market and the downtrend of inflation, writes FELIX OLOYEDE. Before the last Monetary Policy Committee meeting of the Central Bank of Nigeria, there were mixed expectations…….(Read More)

Eterna Plc Reports Strong FY 2024 Performance  –

Eterna Plc has reported a strong financial turnaround for the fiscal year ended December 31, 2024, despite a volatile operating environment. The company disclosed the results during its 32nd Annual General Meeting (AGM) held on July 24, 2025, where shareholders also ratified important board appointments and strategic resolutions to support future growth. The company recorded a 71 per cent increase in revenue, growing from ₦183.3 billion in 2023 to ₦313.6 billion in 2024..…(Read More)

US, China to launch new talks on tariff truce extension, easing path for Trump-Xi meeting –

Top US and Chinese economic officials will resume talks in Stockholm on Monday to try to tackle longstanding economic disputes at the center of a trade war between the world’s top two economies, aiming to extend a truce by three months and keeping sharply higher tariffs at bay. China is facing an August 12 deadline to reach a durable tariff agreement with President Donald Trump’s administration….(Read More)