Hello Readers, Bizwatchnigeria brings you the latest business news highlights in Nigeria for the week of January 12th–18th, 2025.
Nigeria Attracts $7.6 Billion In Investments At Africa Investment Forum 2024
The Africa Investment Forum (AIF) 2024 secures $7.6 billion in investment interest for Nigeria, highlighting the nation’s growing potential to attract global capital for development projects. Dr. Akinwumi Adesina, President of the African Development Bank (AfDB), confirms the milestone, expressing optimism about Nigeria’s economic trajectory.
FCT-IRS Sets January 31 Deadline For Annual Tax Return Filing
The Federal Capital Territory Internal Revenue Service (FCT-IRS) announces January 31, 2025, as the deadline for employers to submit their 2024 annual tax returns. This directive applies to private companies, government Ministries, Departments, Agencies (MDAs), and other employers within the FCT.
Nigeria Urges Increased Investment In Key Sectors At IsDB Retreat
Nigeria’s Finance Minister, Wale Edun, urges the Islamic Development Bank (IsDB) to increase investment in energy, infrastructure, agriculture, and railway development at the ongoing IsDB Governors’ Retreat in Al-Madinah, Saudi Arabia.
China Considers Selling TikTok’s U.S. Operations To Elon Musk Amid Regulatory Pressures
The Chinese government is reportedly considering selling TikTok’s U.S. operations to billionaire Elon Musk if the U.S. Supreme Court upholds a looming ban on the social media platform.
In a landmark move to improve consumer protection within Nigeria’s telecommunications sector, the Nigerian Communications Commission (NCC) and the Federal Competition and Consumer Protection Commission (FCCPC) have signed a historic Memorandum of Understanding (MoU).
FG Responds To Emir Sanusi’s Critique Of Economic Reforms
The Federal Government responds to recent comments made by Muhammadu Sanusi II, the Emir of Kano and former Governor of the Central Bank of Nigeria (CBN), regarding the economic reforms introduced under President Bola Ahmed Tinubu’s administration.
Afreximbank to Boost African Airlines with Aircraft Financing Initiative
The Africa Import-Export Bank (Afreximbank) has announced plans to provide 25 aircraft through its leasing subsidiary to strengthen the competitiveness of African airlines.
Dr. Bosun Tijani, Nigeria’s Minister of Communications, Innovation, and Digital Economy, states that the planned increase in telecommunications tariffs should not surpass 60%, far below the 100% hike proposed by telecom operators.
NIGCOMSAT Partners With Eutelsat To Enhance LEO Satellite Services In Nigeria
Nigerian Communications Satellite (NIGCOMSAT) partners with Eutelsat to deploy Low Earth Orbit (LEO) satellite services across Nigeria, aiming to boost nationwide connectivity.
High Inflation, Interest Rates Weaken Nigeria’s Manufacturing Sector In 2024 – MAN President
The President of the Manufacturers Association of Nigeria (MAN), Chief Francis Meshioye, says Nigeria’s manufacturing sector is struggling in 2024 due to high inflation, rising interest rates, and the depreciation of the naira.
Agriculture Ministry, NIMC Launch NIN-Enabled Farmer Registry And G2P Card Initiative
The Federal Ministry of Agriculture and Food Security (FMAFS), in collaboration with the National Identity Management Commission (NIMC), introduces the National Identity Number (NIN)-enabled farmer registry and Government-to-People (G2P) card initiative.
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IMF Warns Of Global Disruption From Trump’s Economic Policies
The International Monetary Fund (IMF) issues a warning about the potential global disruptions resulting from the economic policies of incoming U.S. President Donald Trump. The IMF highlights that his proposed tariffs, tax cuts, and deregulation could heighten trade tensions, disrupt global supply chains, distort trade flows, and affect market stability.
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