Business – Page 6 – National Daily Newspaper

$50bn pledged, $2.06bn delivered: Nigeria’s FDI gap under Tinubu

$50bn pledged, $2.06bn delivered: Nigeria’s FDI gap under Tinubu

President Bola Ahmed Tinubu’s administration has secured more than $50 billion in investment commitments through 87 Memoranda of Understanding (MOUs) since May 29, 2023, but only...

Nigeria’s FX utilisation hits $50.93bn in 2025 as dollar demand surges

Business3 weeks ago

Nigeria’s FX utilisation hits $50.93bn in 2025 as dollar demand surges

Nigeria’s foreign exchange (FX) utilisation climbed to $50.93 billion in 2025, its highest annual level since 2019, as demand for foreign currency by businesses, importers and...

Business3 weeks ago

Jetour T2 PHEV set for Abuja showcase as brand expands Nigerian footprint

Jetour Nigeria has announced plans to showcase the Jetour T2 Plug-in Hybrid Electric Vehicle (PHEV) at the forthcoming Jetour Experience Abuja, scheduled for September 22...

The Benue State Police Command has arrested 46 persons in connection with the reported attack and blockade of the convoy of the Nigeria Democratic Congress (NDC) presidential candidate, Peter Obi, in Makurdi. The arrests followed Tuesday’s confrontation along the Gboko-Makurdi Expressway, where youths reportedly barricaded the road and prevented Obi’s convoy from proceeding to Yelwata in Guma Local Government Area. Obi had travelled to the state to visit communities affected by the June 13, 2025 killings in Yelwata and commiserate with victims and their families. The police had earlier confirmed the incident, saying operatives provided security for Obi’s movement and that an investigation had commenced to establish the circumstances behind the blockade. The development has heightened political tensions in the state, with Obi and his party accusing political actors of orchestrating the incident, while the Benue State Government has denied any involvement. Obi alleged that youths linked to a government aide blocked his convoy and prevented him from reaching Yelwata. The allegation, however, has not been independently established. The NDC described the incident as an attack and obstruction of its presidential candidate, demanding an investigation and prosecution of those responsible. The party maintained that Obi’s visit was humanitarian and not a campaign activity, saying he intended to sympathise with families affected by the 2025 massacre. The Benue State Government, however, rejected the allegations, insisting that neither Governor Hyacinth Alia nor his administration had anything to do with the blockade. The governor’s Chief Press Secretary, Tersoo Kula, said the government only became aware of the incident after photographs and reports of the confrontation emerged. Kula subsequently said Governor Alia directed the police to investigate the incident, identify those responsible and ensure that they answered questions over their actions. He challenged Obi and the NDC to identify the government aide they alleged was behind the mobilisation of the youths and provide evidence linking the individual to the incident. Kula said the governor had no reason to deploy youths against Obi, arguing that if there were legitimate security concerns over the visit, recognised security agencies should have been used. Meanwhile, Benue Commissioner of Police, Cletus Nwadiogbu, said the command had received information about Obi’s planned visit the previous night and consequently made security arrangements for his movement. He said the Assistant Commissioner of Police in charge of Operations was personally assigned to lead the security team accompanying Obi. Nwadiogbu said the police were informed that Obi was travelling to Yelwata to visit victims of the 2025 attack and not for a political campaign. He said the command was investigating why youths decided to block the convoy, stressing that the police would establish the circumstances surrounding the incident. The controversy has drawn condemnation from political leaders and civil society groups, with concerns that the incident could set a dangerous precedent ahead of the 2027 general elections. Former Kano State Governor and Obi’s running mate, Rabiu Musa Kwankwaso, condemned the blockade and warned that attempts to restrict opposition politicians from moving freely could push the country towards anarchy. African Action Congress presidential candidate Omoyele Sowore also condemned the incident, warning against political violence, intimidation and thuggery. Despite being prevented from reaching Yelwata, Obi proceeded to neighbouring Plateau State, where he visited Mangu Local Government Area to meet residents and victims affected by attacks. The Benue incident has since become a fresh point of political contention, with competing claims over who was responsible for the blockade and whether the confrontation was politically motivated.

Business3 weeks ago

Peak Milk connects breakfast, love and self-care in new campaign

Peak Milk has launched a new consumer campaign, “Peak Breakfast, Peak Love,” aimed at highlighting breakfast as an everyday expression of love, care and...

Jetour X50 takes centre stage as Jetour Experience heads to Abuja

Business3 weeks ago

Jetour X50 takes centre stage as Jetour Experience heads to Abuja

Jetour Nigeria is set to take its motoring experience to the Federal Capital Territory as the automaker prepares to showcase its popular Jetour X50 during...

Nigeria records N12.59trn trade surplus in Q2 2026 — NBS

Business3 weeks ago

Nigeria records N12.59trn trade surplus in Q2 2026 — NBS

Nigeria recorded a N12.59 trillion merchandise trade surplus in the second quarter of 2026, according to the National Bureau of Statistics (NBS). The NBS...

Dangote Refinery IPO: What Nigerians need to know before buying shares

Business3 weeks ago

Dangote Refinery IPO: What Nigerians need to know before buying shares

Dangote Refinery’s planned listing on the Nigerian Exchange (NGX) is expected to become one of the biggest initial public offerings (IPO) in Nigeria’s history,...

MTN surges ahead of ISPs, captures 55% of fibre broadband market

Business3 weeks ago

MTN surges ahead of ISPs, captures 55% of fibre broadband market

MTN Nigeria has strengthened its dominance in Nigeria’s fibre broadband market, accounting for more than half of all Fibre to the X (FTTX) subscriptions recorded...

Nigerian Breweries’ H1 profitability strengthens as revenue hits N804bn

Business3 weeks ago

Nigerian Breweries’ H1 profitability strengthens as revenue hits N804bn

Nigerian Breweries Plc has reported a strong financial performance for the first half of 2026, recording N804 billion in net revenue and N164 billion...

Business3 weeks ago

FCCPC probes Uber’s exit from Nigeria

The Federal Competition and Consumer Protection Commission (FCCPC) has begun examining Uber’s exit from Nigeria, with particular attention to whether the ride-hailing company left behind unfulfilled...